24Option

24Option are one of the leading online binary options brokers.  They boast some of the latest technology on their trading platform and pride themselves on offering an easy to use system, and one which is also feature rich and advanced. The firm operates under  the company name Rodeler Limited and has headquarters in Cyprus.

The firm are regulated by CySec and are keen to promote their service as a secure binary options broker. They have also recently added both CFDs and Forex trading to their offering, and also expanded their customer support to include management of large investing portfolios.

They aim to offer a user friendly trading service and also give traders the tools they need to make a profit – including some of the highest limits in the industry. Here are some of the key details for 24Option;

    • Demo Account – Yes
    • Minimum Deposit – £250
    • Minimum trade – £24
    • Signals service – Yes
    • Bonus details – 24Option offer Premium Prizes – visit the Promotions page at the official wesbite  (examples include Apple Watch and VIP football tickets). Bonus terms and conditions will apply.
    • Mobile App – Yes. Android and iOS catered for.

24option trading platform reviewTrading Platform

24Option offers a user-friendly platform aimed at quick, easy trading, as well as a mobile trading app. Traders can choose from four trade types and a complete range of expiry times. These can be as short as 60 seconds, and as far ahead as a week or longer on certain assets. Payouts will vary based on the underlying asset and expiry time, but the platform does have high payout levels relative to their rivals.

The trading area is clearly laid out. Traders are able to select the underlying asset they want to trade, either directly from the list, or by filtering the display down to the class or category wanted, via a drop down menu. The trading window is always visible, next to the list, and will update as soon as a different stock or underlying asset is selected. The price graph on the trading window can be enlarged, to allow a more detailed analysis of price action.

Below the trading window is the open trades area. From here traders can see all the trades they have open, and these are flagged as to whether they are currently in the money or not. The opening price and current price are both displayed, as is the expiry time. Also, the open trades window will display a ‘Close’ value – that is a value that the trader can ‘cash in’ at that moment – either to lock in a profit or reduce a loss. These are only offered at certain times within a trade, but add to a trader’s options and are handily placed.

Trade history is also shown in this area, listing all completed trades, open and close prices and of course, the net result of the trade. There are also three tabs for traders to keep informed of markets changes, a trading alerts tab, a daily market updates tab and the very useful Economic calendar tab, which is a great source for finding the key financial statements that will get released to the markets in the near future.

Trader Choice

The platform delivers binary options on forex, commodities, selected stocks and indices.

They offers four kinds of option:

High/Low – The basic binary option. Will the underlying asset rise in value, or fall?

One Touch – Will the price ‘touch’ a particular value at least once before the expiry time?

Boundary – Will the price remain within two preset values? (A high and low value) or will it breakout? These are a useful option during flat markets.

60 Seconds – As the name suggests, very short term binary options with very short expiry times.

In addition, traders can now use CFDs (Contracts for difference) and also trade foreign exchange ‘per pip’ using the traditional model.

Mobile App

24option mobile app24Option provide a slick and easy mobile trading platform, it will work with both android and apple devices. If logged in to the full website, traders can see a demo of the mobile app, and choose a variety of devices for that demo.

The application has a very simple interface, with each stage of the trading process laid out in a clear simple process. Screens are large and easily useable without risk of mistakes due to fiddly or hard to find buttons. As well as easy trading, the app can also display the trading history, and open trades so these can be checked wherever a trader may be. It is a slick trading app and is a great addition to the range of features offered by the brand. It has been created with the trader in mind, but has been thoughtfully developed to ensure it offers a full range of functions across multiple devices.

Download the 24option Mobile app here;

24option android download 24option for iOS download

Payout

Individual options return as much as 88% on their successful binary options. These rates do vary based on the underlying asset and expiry but rates are generally very good relative to other binary options brokers. Higher yield trades are also available on specific trade types via the ‘High Yield’ tab in the trading area on weekend trading but carries higher level of risk. But have in mind that investors can lose all their capital by trading binary options.

Withdrawal and Deposit Options

24option offer a variety of deposit and withdrawal options.

Withdrawals are normally sent back to the source of the funds. The accounts do require some form of valid ID, and proof of address before making withdrawals, this is to comply with money laundering laws. If funds were deposited via credit card, details for that card will also be required for the withdrawal. Withdrawal problems and complaints generally revolve around delays in this proof of identity process, so it is worth sorting out prior to asking for a withdrawal. This can avoid problems and ensure quick withdrawal times.

24option withdrawal an deposit optionsGold and Platinum account holders can enjoy regular free withdrawals, regular account holders receive their first withdrawal free. Remaining withdrawals may incur a percentage charge and this figure will depend on the method used – Skrill for example, will incur a 2% charge. Withdrawal requests can be made at any time.

Deposits can be made at any time too. The minimum deposit is £250 (funds can be deposited in USD and EUR too – but once set the currency that an account operates in cannot be changed). 24 Option are keen to stress the security of the deposit process, and do make it as easy as possible to deposit funds.Once the minimum deposit is made, the funds appear straight away so traders are not delayed in taking out options.

CFDs

24Option recently announced that CFDs (Contracts For Difference) had been added to their platform. The trading area has noe been redesigned in-house (rather than the previous TechFinancial platform), and they have improved their platform to now include the option of trading CFDs.

While the initial offering is fairly limited, it is an interesting step from the firm, and is an area of trading which is likely to expand within the binary sector.

Other Features

24Option offers its clients the following features and benefits:

  • Multilingual support – The brand is an international business, offering trading support in a range of different languages including English, Spanish and Italian.
  • 24/7 trading – They offers 24-hour trading.
  • Education centre – The website hosts a range of educational resources catering to traders at all levels. These include regular market updates, educational videos, eBooks and a beginners’ trader manual to get you started.
  • Copy trading – Follow the trades made by winning traders

 

Where are 24Option Located?

They are owned by Rodeler Ltd, who are based in Cyprus. They are regulated by CySEC, but do have offices across Europe, including Ireland. The London office has been closed however.

How do 24Option make money?

The firm offer over the counter binary options. This means they are generally taking counter party risk. For a more detailed explanation of the over the counter profit model, read our article on How brokers make money.