Online trading is at the core of what 24option does. Its hard to find a more popular broker out there. While initially, 24option became famous by offering binary options, their latest endeavours, starting in 2017 are taking them into CFDs trading arena.
In this updated 24option review we bring you all the important aspects of the broker’s offering in 2017. As a winner of multiple industry awards, 24option is no stranger to an innovative trading experience. This is something we have relieved too in our latest test of their new CFDs/Forex platform.
What we really liked was the fact that the platform is user-friendly. It’s good to see that simplicity ethos has been carried over to the new type of the offering. This will definitely delight existing and new traders who are trying to navigate an ocean of brokers and platforms.
24option is owed by Rodeler Limited which is regulated by CySEC and operating under licence 207/13. Rodeler Limited offers its services on a cross-border basis to the European Economic Area (EEA) countries that permit the provision of its services in their jurisdictions as well as Switzerland.
86.24% of retail investor accounts lose money when trading CFDs with this provider.
Account Features
24option created five different types of accounts that will provide a trading experience depending on the trading style. The accounts add many features for CFDs trading and they differ in one important aspect – the spread. Along the aforementioned differences additional perks, like trading alerts and educational resources are the features coming with the more upscale account types at 24option.
The five above-mentioned account types are:
- Basic Account
- Silver Account
- Gold Account
- Platinum Account
- Diamond Account
You can find all the details on the official 24option website.
24option also has a demo account for registered traders. Once the registration is completed, you will notice two types of accounts are available. One is the real account, the other is a demo account. Demo account is a great choice for traders who never traded with 24option before or those that aren’t sure how to start. The demo account includes 10000 of virtual money available for trading without risk.
Trading Software & Assets
It was a thrill to trade and write this 24option review of the trading platform. And make sure to stay alert as if you are not careful you will get addicted right away. Their recently updated website now offers both an online user-friendly platform and a downloadable MT4. 24option review revealed some very interesting trading diversifications in 2017 by providing even more tools and features to its clients. Now they offer Forex/CFDs trading. While this type of trading is complicated and risky; 24option trading platform is easy to use.We have analysed the 24option trading platform webtrader and MetaTrader4 (MT4) which enables us to place trades directly from the browser. The one click solution is really convenient and makes it intuitive to place trades. The web trader also includes chart where one can perform simple technical analysis. By the chart the interface for placing trades is presented. Briefly put, in order for you to place a trade you have to choose the amount of lots and the direction of your chosen underlying asset (buy/sell).
Other options offered are the “Open the trade when rate reach” option – opening trade when the price strikes desired level. Also, “close at loss” and “close at profit” features are there to make risk management easier.
You can also trade ‘as you go’ with the 24option mobile app that is free to download, while the more professional traders can download 24option MT4 desktop client software to get even more features.
Please note than not all features and settings are available to EEA customers.
Support Information
24option has a large amount of languages to choose from so if you prefer to trade in your native language 24option can be the right place for you. During the 24option review our staff tried communicating in few languages and found the support ready for everything.
We have asked some basic info about the account types and how to use the demo account. We got all the answers really fast and we were personally not pushed to make an account as is sometimes customary with other brokers. The support was there to give us information and not to sell us the service.
Banking & Company Information
24option minimum deposit is €250. Customers can use one of many deposit methods available. Most prominent ones are credit cards and net wallets such as Skrill or Neteller. You can also use traditional bank wire, which is a bit slower and charges may apply, but also other methods such as Discover Cards, JCB, Switch etc. Available deposit methods vary and depend on the place where you live.
Currently, the first withdrawal is free. After that following fees apply unless you are a 24option platinum or diamond member (Note that minimum deposit, withdrawal fees, deposit methods are subject to change by the Company. For up to date information visit the official 24option website).
You may find more information on applicable and processing fees at the official 24option website. Once you register an account, you will be required as per regulations to verify your account, so prepare scanned versions of your ID/passport, utility bill not older than 6 months with your name, and copy and/or proof of your selected deposit method which you will be using to make your deposit. Note that, E-wallet users also need to send a screenshot of their account profile page. Documents can be uploaded to the platform or can be sent via email to [email protected]. Processing of documents can take up to 3 days. Any withdrawals requests are being processed without any undue delay if the account is duly verified.
86.24% of retail investor accounts lose money when trading CFDs with this provider.