24Option Trading Platform Review
24Option Broker Review
24Option, founded in 2009, is a true binary options pioneer. 24Option is owned by Rodeler Ltd. Rodeler Ltd is a company operating under Cyprus Securities Exchange Commission (CySEC) license number 207/13. The company’s registered office is located in Limassol, Cyprus CY-4103 at 39 Kolonakiou Street, FREMA PLAZA, First Floor, Ayios Athanasios. On top of the CySEC licence, 24Option (Rodeler Ltd) is also registered with the British Financial Conduct Authority (FCA) since 04/12/2013 and Rodeler BaFin in Germany.
Outside the European Economic area, the services of 24Option (24option.com) are offered by Richfield Capital Limited, a company that belongs to the same group as Rodeler Limited and is regulated by The International Financial Services Commission Of Belize (number IFSC/60/440/TS/15-16).back to menu ↑
Is 24Option a Scam?
24Option is NOT a scam. 24Option was regulated back on 2013 by the Cyprus Securities and Investments Commission (CySEC). That means that the company takes measures to safeguard clients’ funds. As our readers already must already know, there is more than one binary options broker that sucks despite being regulated, but this 24Option review will re-assure you that 24Option is not only a trusted broker, but also a broker that definitely doesn’t suck!back to menu ↑
24Option in a Few Words
Some Binary Options brokers are just a Scam, some just Suck. 24Option is a member of the exclusive list of brokers considered to be highly respected and truly inspiring. Thanks to CySEC regulation we can revoke any suspicion of a scam by 24Option and an attractive easy-to-use trading platform with a good customer service makes 24Option a user friendly prime and trusted broker. After so many years in the industry (they were one of the first brokers to emerge on the binary options scene), we can safely say they proved their worth and have become a regulated partner for traders and investors all over the world.
The first issue comes to mind is actually bad news for US customers; 24Option no longer serve US clients due to Regulation in the EU. Funny how good news to EU clients is less good for US clients. Someone said EUR/USD? Another thing that I really don’t want to address to as an issue is; since 24Option became fully regulated the average return decreased with 2%. However, the regulation itself is a big plus. Also, 24Option still offers returns up to 88% on successful predictions, but if your prediction is wrong you will lose your invested capital!
Update: 24Option now offer a proprietary platform called Scipio (read more below) and have introduced the new Contracts For Difference (CFD) trading. These are great new changes and 2 extra reasons why 24Option Doesn’t Suck. TechFinancials is a great platform but we like to see brokers take total control of their business.
Should I Open an Account with 24Option?
Since their launch, 24Option’s innovative, fully web-based platform kept on growing slowly but smartly, providing investors with the proper and simplest tools needed to trade options: great user-interface, the trading process is easy to understand and the live charts are available by clicking on the underlying asset. If a trader wants to examine the underlying asset more closely, (s)he doesn’t need to browse to other pages; a simple click on the underlying asset tab will pop out a small window just above the underlying asset with information by Yahoo! and other sources. These great features of 24Option made this company one of the best binary options brokers out there. 24Option has improved since they were founded, the platform has been re-designed, number of underlying assets has increased and staying up to date seems to be their ambition.
It’s no secret that 24Option and TechFinancials were long time partners, with the latter providing the trading platform itself. However, recently 24Option and TechFinancials have parted ways! This is the end of a very long and beneficial partnership, for both sides but now 24Option have decided to use their own proprietary platform and from my point of view that’s not a bad thing. By managing their platform in-house, they can roll out updates, changes and new features faster than before, and obviously that’s something that will benefit us traders. The new platform is called Scipio but don’t worry if you are a fan of TechFinancials because the two platforms are not worlds apart and there are many similarities.
24Option are an official partner of Juventus Football Club and this adds to their credibility and high profile. Yea, 24Option is a top shelf well respected broker but additional confirmation never hurts so if you’re a soccer fan and a binary options fan, you’re in for a treat.
Their great customer service makes 24Option a warmer home to Binary Options traders, not to mention the regulation, which is a great feature on its own. In order to start trading clients must deposit the minimum amount of 250$ and the maximum amount varies through the different account types.back to menu ↑
Trading CFDs with 24Option
Recently we see a new trend emerging: CFD trading. 24option successfully leads the way in CFDs, offering a well-organized and professional web platform, tailor made for this way of trading. The main principle behind CFD trading is similar to Binary Options (you still have to be right about direction) but a notable difference is that once you’ve decided on a direction and an investment amount, you can keep your trade open as long as you want or close it whenever you choose to.
Staying true to their position as a market leading broker, 24Option are first to introduce Meta Trader 4 (MT4) as a platform for trading FX and CFDs. For a long time, traders have used this charting package to conduct technical analysis before opening Binary Options trades on their broker’s platform but now, thanks to 24Option you can trade CFDs directly from MT4. Of course, if you consider MT4 too complicated, you still have the option to trade on the Scipio web platform but who would pass on the opportunity to use tens of technical indicators and one of the most advanced charting packages for free.
24Option Broker Complaints
Binaryoptionsthatsuck.com do the research for you! We’re looking for broker’s complaints all over the web, checking them out and bringing the results to our readers. What we did is really simple – we searched on Google for 24option complaints or 24options fraud, scams, Etc. you can try it also. It’s unbelievable but we couldn’t find even one real complaint about 24option.
Here’s what we found: First and foremost, there’s an active discussion concerning 24Option on comments section, Complaint and Reviews Center and on Forum. Every complaint we receive is being checked and monitored by the team and I. overall, I feel most negative feedback’s addressing issues in withdrawal are not bona fide. It’s a common reaction comes from either angry or frustrated traders, but doesn’t reflects the truth. Most honest complaints are resolved by the company, so I think it’s fair to say I don’t see major issues here.
As of late, we’ve seen users complain that French and Japanese customers are not accepted anymore. This is due to regulation in those respective countries and it’s actually a positive thing that 24Option chooses to respect the legislation (we’ve seen brokers that continue to offer their services without proper authorization and this only taints their name).back to menu ↑
24Option Regulatory Announcements and Warnings
29/07/2016: French regulator Autorite des Marches Financiers (AMF) banned 24Option from operating in France. The authority stated that “In this case, it appeared that the Rodeler Limited provider did not comply, in France, with some of its obligations of providing correct information, as well as acting fairly and honestly, in the best interest of its customers, to the detriment of investors residing or established in France”. See warning – AMF.back to menu ↑
Rodeler LTD has always been a company that took regulation seriously and tried to comply with all the rules imposed by its regulator, CySEC. Staying true to that way of doing things and following CySEC’s disapproval of trading Bonuses, clearly expressed through Circular C168 (30/11/2016) and Circular C194(16/03/2017), the Management of Rodeler LTD has decided to completely terminate the offering of Bonuses and other trading benefits.back to menu ↑
Most sites will tell you how to deposit. At binaryoptionsthatsuck.com we are not worried about that, because that’s always easy; here we care about possibly the most important part of binary options – Withdrawing your profits. Brokers don’t usually cause problems when you want to depositing money, but some binary options brokers will cause problems when you want to withdraw.
At 24Option there is no maximum limit on the amount that you can withdraw (some brokers do limit!) and the minimum is 10 USD (very low). The company proceeds with the withdrawals requests without any undue delay. VIP-accounts don’t pay any fees for withdrawals which is amazing! Just remember that you need to send proper documents due to the regulation before you request your money to be transferred to your account.
Some traders are looking for the extras in each broker, here at BOTS.com we try to think different. This section is about what’s different in 24Option, what makes 24Option different then other brokers.
The Extra’s that we liked the most in 24options are the:
- 5 hour videos – Education is important! 24 options is brining you videos that every beginner will love!
- Free webinars, trade with a pro!
- Highest Limits (withdrawal) – Very important factor that some traders are not aware of, at 24options you will find the highest limits, read more about it in Binary Options Trading Limits.
- Longevity and trust. This is now one of the biggest brokers in the world but also one of the oldest and most trusted.
- Free signal package available on the trading platform.
- New Addition: CFD trading!
- New Addition: Meta Trader 4!
User Friendly 18/20
24Option now offers their proprietary platform, Scipio, completely web-based and extremely intuitive. Users can easily switch between BO, FX/CFD trading and from our tests we’ve noticed a substantial increase in speed of opening and closing trades. Overall it’s an improvement that adds more functionality and value. 24Option website appearance was and remains by far the best I’ve seen and is available in no less than 12 different languages including English, German, Spanish, Arabic and many more.
No. of Underlying Assets and Expiry time 18/20
Total of 131 underlying assets: 61 stocks, 34 currency pairs, 11 commodities, 25 indices. 24Option variety of underlying assets is vast. The expiry times are great; letting the traders choose anywhere from 60seconds, 120 seconds, 5 minutes then every 5 minutes up to end of day, week or month.
Their CFD offering is formed of 132 stocks, 42 currency pairs, 13 commodities and 18 indices, which is a huge basket that I am sure will satisfy even the most “fussy” trader.
Commissions, Support and Effective return 18/20
24Option don’t charge any fees or commissions from investors when they first deposit or purchase options and the first withdrawal is free. Withdrawals via Wire transfer are charged with a 30$. Gold account holders get one free withdrawal per calendar month but for Platinum account holders every withdrawal is free. 24Option support is available via 21 international numbers- in English, French, Italian and Spanish and more or via email. The live chat service was very quick and polite. The effective return is among the highest in the industry 70-88% in the money with an 82% average return for most major currency pairs (this fluctuates depending on market conditions), but have in mind that investors can lose all their capital as well by trading binary options. There is no Out-of-Money refund but you can close your position from ~2 minutes after purchase up to 5 minutes before it expires.
Deposit, Payment and Bonus 18/20
24Option Minimum deposit is average – 250$/250€/£250/¥50,000 or руб 10,000. Deposit is available via C.C., Wire transfer, Cash-U, MoneyBookers and many more. Withdrawals are generally available via the same methods, with a minimum of 100$ for wire withdrawals. There is no minimum withdrawal amount using Moneybookers. Following CySEC’s disapproval of bonuses, 24Option no longer offers a bonus or other type of trading benefits.
Website Extra’s 17/20
24Option innovative platform features some new extras and now also includes inside platform signals. The signals vary in strength and suggest the direction that the underlying asset is likely to take but expiry time is up to the trader to decide. Except of the regular High\Low trading, recently they’ve added a new giant Extra: CFD trading.
24Option is one of the first Binary Options Brokers to arrive in 2009. 24Option is regulated and uses TechFinancials Trading Platform, which is considered one of the best trading platform available to date. 24Option has superior payout which’s up to 88%. In order to start trading with 24Options, traders need to deposit a minimum of 250$.