24Option was founded in 2008. Opened as a binary options broker, 24Option is now a leading CFD and Forex brand owned by Rodeler Ltd. The company’s headquarters are located in Cyprus. For traders outside the European Economic Area (EEA), 24Option’s clients do business through a separate Belize-based company called Richfield Capital Limited.
The main product offered in the past has been binary options. However, 24Option has recently started offering CFD trading and forex to compete with more established brokers in this space. The similarities between the products meant that 24option was able to build its own custom trading platform and add new features for CFDs and Forex trading. Binaries are now completely removed.
Trading platform
Regarding the trading platform used by 24Option, the broker previously used the binary options trading platform powered by TechFinancials. However, looking to expand their product options, 24Option now offers CFD and Forex trading services using a proprietary platform called Scipio (with the same login details).
MetaTrader 4
Besides the Scipio trading platform, 24Option has integrated the popular MT4 trading platform for traders who want to trade the spot forex and CFD markets. The main attraction of the MT4 platform is the advanced trading tools integrated into the platform.
Thus, traders can use either platform, each offering different strengths. MT4 is more complex to use, but includes more analysis tools and automation options. Existing platforms are easier to use. Traders can, of course, do their research on one platform and trade on another. The login details are the same for both.
Mobile trading
24option offers a free mobile trading app for both iOS (iPhone and iPad) and Android. The app can be downloaded both from Apple’s App Store or Google Play Store. The application offers all the features of the main website, including many account management features. The app takes advantage of the strengths of each platform (android or iOS) to maximize the capabilities of any device.
Using the app is seamless and intuitive. The login process is quick but secure. While technical analysis is difficult on a small screen, the trading and correction details are straightforward, a real bonus for traders who need to react to events while away from their computer or laptop.
Provide trading account
24Option has 4 types of trading accounts. Trading accounts are categorized into Basic Account, Gold Account, Platinum Account and VIP Account (previously known as Diamond).
Each account level offers slightly better terms with more lessons and tighter spreads.
To open a live trading account, you must meet an initial deposit of at least $100.
Regulation and Reputation
Is 24Option a scam or can you trust it? Their regulatory history suggests they are responsible companies. It is designed to maintain your reputation as you move away from the binary sector.
In terms of regulatory oversight, 24Option is regulated by two regulatory bodies. For operations within Europe, 24Option is regulated by the Cyprus Securities Exchange Commission (CySEC) under its CIF license number. 207/13 was issued to Rodeler Ltd. Outside of Europe, 24 options fall under the jurisdiction of the Belize International Financial Services Commission. Certification is issued to Richfield Capital Limited under IFSC registration number IFSC/60/440/TS/15-16.
Bonus
Due to recent memos from CySec (C168 (2016/30/11/2016) and C194 (16/03/2017)), bonuses such as free trade deposit bonuses are now banned. 24Option does not currently offer signup bonuses.
Instruments
Currently, the company has a range of underlying assets for customers to choose from. There are over 130 different types of underlying assets in total. The selection is mainly from four main asset classes: currencies (34 pairs), commodities (11 types), market indices (25 indices) and equities (61 companies).
Customer Support
24Option’s customer support is available 24/7. Traders can contact the support team via email, live chat or phone. Localized phone support is available for the following countries:
Belize, Brazil, Chile, Colombia
Malaysia, Mexico, New Zealand
Peru, Russia, Saudi Arabia, Singapore
Ukraine, United Arab Emirates
Withdrawal
There are many different methods you can use to fund and withdraw money at 24Option. Supported methods include VISA, Mastercard, Discover, Diners, Switch, JCB, Skrill, Neteller, and bank transfer.
Is 24Option best for day trading?
For day traders, 24Option is ideal as the broker can provide the right choice of underlying assets for day traders to trade. For example, binary options allow you to trade contracts with expiry times as short as 60 seconds. As with CFDs, traders can decide when to close their trades. The ability to land trades arbitrarily is important for day traders. Because an instant decision can mean the difference between profit and loss.
Frequently Asked Questions
What is the minimum deposit requirement to open a trading account?</ p>
The minimum deposit is $250.
How fast can my withdrawal request be processed?
The typical processing time required for withdrawal requests at 24Option is 3 business days.
Is 24Option a reliable broker?
yes. 24option is a trusted broker regulated in several countries. Additionally, the broker has earned a reputation as one of the best names in the industry.
What kind of trading platform does 24Option have?
24Option offers two types of trading platforms: a proprietary platform called Scipio and the MetaTrader 4 platform.
What is the maximum leverage available?
The maximum leverage offered by 24Option is 1:200.
24option company details
24 Options is based on 39 Kolonakiou Street, FREMA PLAZA, 1st Floor, Ayios Athanasios, Limassol, Cyprus.
Accepted countries
24Option accepts traders from Thailand, UK, South Africa, Singapore, Hong Kong, Germany, Norway, Sweden, Italy, Denmark, UAE, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Traders cannot use 24Option from Belgium, Iran, China, Bosnia and Herzegovina, Israel, France, Japan, Australia, Canada, USA, India, Nigeria, Brazil and Switzerland.
