24 Option is a well-known binary broker—known for its competitive payouts, strong market presence and fair community trades. They are one of the biggest, most reputed sponsors of sports event in the world. They use Tech Financials trading platform for their operations.
Is 24 Option a Scam?
No, we don’t think so. The website www.24option.com is managed by Rodeler Ltd. Based in Limassol, Cyprus. The website has its physical address (39, Kolonakiou St., Ayios Anthanasios, Cy-4103) and contact details (Phone: 357 25 262789 and mail id: firstname.lastname@example.org) mentioned on their web page. Licensed as 207/13 by Cysec, the company offers its trading services in Eurozone. The company works in association with Richfield Capital Limited that accepts non-European traders in Belize.
One thing is for sure, they’ve observed complete transparency in their transactions.
We say 24Option is legit because Cysec offers ICF (Investor Compensation Cover). This means all your deposits and rights as a trader are well preserved. The cover will protect you under worst circumstances. Therefore, we’re confident in saying that 24 option is a legit broker with positive reputation in the business world.
Are there any Complaints Against them?
No serious complaints have been registered against the website hence, it’s trusted by BinaryOptionsBlacklist.com (a website that keeps track of black listed traders). Nevertheless, a majority of customers have complained regarding—
- Bonus Offer: At 24 Option, if you deposit £2500, you’ll get 50% match bonus, but there are specific conditions associated with this bonus. Don’t blindly accept the bonus amount without reading terms and conditions. Don’t blame the site owners if you aren’t clear with regulations set by the website.
- The second most common complaint we’ve encountered is delay in entering trade with requotes. Many traders complain of missing entry points. It’s because the trading platform didn’t let the trade go through. You need to keep this in mind when trading.
Trading Platform, Trading Options & Software
Other brokers in the market use third party trading platform, such as ‘Tradologic’ or ‘Spot Option’, but not 24 Option. They use ‘Tech Financials’—a user-friendly trading media having great interface that sets them apart. The platform maximizes securities on view—perhaps this is why it’s quite popular among traders.
Out of all the assets available for trading, 24 Option trades in commodities (silver, gold and oil), Binary Forex Pairs (Currencies, such as Pound-Dollar, Euro-Dollar, Pound-Euro, Australian Dollar-USD etc.), Stocks (Telefonica SA, Google Inc, Vodafone) and Indices (DAX-30, FTSE-100).
Bonus & Promotions on Offer
If bonuses are your thing, you’ll be glad to know that 24 Option offers up to 100% cash bonus on your trades (terms and conditions applied). They’re known as one of the best bonus providers in binary options industry.
The bigger question is should you take this bonus? Yes, if you think you can successfully trade it to earn money. On a positive note, you can trade to your heart’s content and get plenty of money on your trade.
However, if you believe in timely deposits and withdrawals or keep tabs on your funds, refuse 100% match bonuses because they rope in tough conditions.
24 Option is available on mobile. Their trading platform is fashioned as an app compatible with both iOS as well as Android. The app offers bang-on experience to traders so they can manage their accounts.
Accounts Available for Trading
Standard trading account with fixed starting deposits is available for trading. The site deals in different trade types—boundary options, one touch, short-term trading and high/low options.
Payouts: How they’re Determined?
24 Option offers different range of returns on binary options.
Minimum trade amount is $24 on option types: Above/Below, High/Low, Touch/No Touch, High Yield Boundary, High Yield Touch and 60 Seconds. The average payout rate is about 80%. Different rate of returns on options include:
- Return Rate on 60 Second Payout: 70 to 79% per successful trade
- High Yield Payout: 200 to 350% per successful trade
- High Yield Touch Payout: 200 to 350% per successful trade
- High/Low Payout: 70 to 80% per successful trade
- Boundary Payout; 65 to 76 % per successful trade
Minimum first-time deposit is £250, which is deposited through credit/debit cards (Mastercard, Visa, Dinners Club, Carte Bleue etc.), Electronic payments (MoneyGram, MoneyBookers) and Wire Transfer (minimum £1000 USD). Other than this, they accept most ewallets including Neteller and Skrill. The payments typically take 24 to 72 hours to get processed and the average payout % varies from 72% to 80%.
Is Demo Account Available?
No, not that we know of.
Countries Available on its List
24 Option offers its services to European countries. It doesn’t offer its services across the globe due to legal restrictions.
Security & Reliability Features
24 Option is regulated by Cypriot regulator that allows over-the-counter trading services using passport, across the entire European nation. The country doesn’t permit its services outside the Eurozone because of restrictions.
The site is reliable as it protects and upholds the security and integrity of all clients by protecting their bank as well as personal details. To top it, their trading platform is robust and ensures complete security of their customers.
Education and Customer Support
24 Option excels in the area of providing help and guidance to its customers. The traders registered on its platform get access to a wide library of tips, pointers and tutorial videos including basic strategies as well as advanced trading. Their online resource includes live market analysis, trading articles, financial new and updated courses by expert traders.
- Transparent, authorized services
- User-friendly platform
- Great bonus offers
- Amazing learning experience
- Offer lower payment options as compared to other brokers
- Automated trading Robot
What sets 24 Option apart from most clients is that they use two different platforms (MT4 for Forex or CFDs and Scipio Trading platform for binary options). IT means the investors have over 100 different assets to trade from.
The registration process is fairly easier and you get free trading signals if you register online.
The maximum trade value varies from £24 to £200,000, so you’ve got plenty of chances to test your luch.
Overall, 24 Option is a fairly good platform to start your career in binary trading options. They’ll give you a good start!