24 Option Review

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Overview

24Option is a binary option broker located in Cyprus and founded in 2010 by a company known as CBAY Financial Services TLD. This broker is fully licensed and regulated by the CySEC, and their aim is to provide traders with the highest payouts and the best customer service possible

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Details

Broker	24 Option
Website URL	http://www.24option.com
Founded	1999
Headquarters	Cyprus
Support Number	+35725030600
Support Types	Email, Chat, phone
Languages	USA , English , Spanish , Germen
Trading Platform	Tech Financials
Minimum 1st Deposit	$250
Minimum Account Size	$250
Minimum Trade Amount	$24
Maximum Trade Amount	$50000
Bonus	Up to 100%
Payout	up to 89%
Free Demo Account	Open Demo
Regulated
Regulation	CYSEC
Account Types	Live Account
Deposit Methods	C.C., WireTransfer , Moneybookers , CashU , and More
Withdrawal Methods	C.C., WireTransfer , Moneybookers , CashU , and More
Number of Assets	100+
Expiry Times	one hour, One Week, Two Weeks, Several Months
Types of Assets	Currencies , Commodities, Stocks, Indicies
Option Types	Currencies, Commodities, Stocks, Indicies
Trading Currency	USD , EURO , POUND
Account Currency	USD, EURO, POUND
US Traders Allowed
Mobile Trading
Tablet Trading
Overall Score	100/100

Pros

• One of the best sites
• Easy trading
• Great Software with easy access for mobile phones

Cons

• No US traders Accepted

Full Review

24Option is a binary option broker located in Cyprus and founded in 2010 by a company known as CBAY Financial Services TLD.  This broker is fully licensed and regulated by the CySEC, and their aim is to provide traders with the highest payouts and the best customer service possible.

Unfortunately, 24Option does not accept USA clients, due to regulatory reasons.  In this review, I’m going to cover all the unique features of 24Option, and help you decide whether or not this broker is right for you.

Platform Overview

24Option uses the TechFinancials software to run their trading platform, and it currently has the following trade types available:  High/Low, One-Touch, Boundary, and 60 Seconds.  Currently, they have a large number of assets that you can trade including 31 currency pairs, 43 stocks, 11 commodities, and 19 indices.

The user interface of the platform is very clean and easy to navigate, even for beginner traders.  The trading platform is available in over 16 different languages, and also has a mobile application so you can trade binary options right from your mobile phone.

Here’s how to start a trade on the 24Option platform.

1. Choose Your Asset
2. Choose Which Direction You Think The Market Will go
3. Select Your Expiry Time
4. Enter Investment Amount and Click BUY.

Before you click the BUY button, you can clearly see how much money you will make if the trade expires “in the money” and how much you will make if the trade expires “outside the money” (anywhere from 0-15%).

Payouts and Return Rates

The payout and return rates is one of the biggest factors traders consider when choosing a binary option broker to work with.  The payouts for your standard high/low trades can reach as high as 89%, which is higher than the majority of platforms.  On certain assets, they do offer return rate percentages of 0-15% for trades that expire “outside the money”.  And of course, they have high-yield trades with their One-Touch trade type that can exceed 500% profit.

Trading Tools

The 24Option platform provides traders with some unique features. Some of these features are:

• The Trading Trends feature helps traders gauge the temperature of the market by showing them the percentage of traders that are on each side of a binary trade.
• The Early Closure feature permits traders to end their trades manually before expiry. This feature is available until a few minutes before the trade is to expire. Use of this function comes at a cost to the trader in the form of reduced payouts.  But it’s an easy way to guarantee profit if you’re asset is currently “in the money”, but the expiry time hasn’t been reached yet.
• The Rollover function is used to extend the expiry time of a trade.  This feature is used when your trade is “out of the money” and you want to extend the expiry time in hope that the asset’s market price will rebound back “in the money” before the extended expiry time is reached.  This allows you to potentially turn a losing trade into a winning trade.

Depositing Funds

24Option makes depositing funds into your account as seamless and easy as possible.  But most importantly, it’s secure and safe.  Your funds are deposited into a segregated bank account, as required by the CySEC.  You can choose between Credit Cards, Moneybookers, and Wire Transfers for funding your account.   The minimum deposit for credit cards and moneybookers is $250, while the minimum deposit for wire transfers is $1,000.   During the registration process, you can choose between these currencies to fund your account: US Dollar, British Pound, Japanese Yen, or the Euro.

Withdrawing Funds

The withdrawal process for 24Option is designed to be as easy and convenient as the deposit process.  To start a withdrawal request, you just need to log in to your account and then click on the banking page and click on “withdrawal”.  Then just fill out the fields on that form and click “Next”.  24Option’s policy is to process withdrawals to the same funding source as your deposits.  There is no minimum withdrawal amount and no limit to the amount you can withdrawal.  The withdrawals are processed as soon as your identity is verified (to prevent fraud)