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With claims of an 85% profit within an hour and some of the highest bonuses of any binary options broker, 24option may be just the broker for anyone looking to profit big. We’ve taken a good look at 24option and compared this company’s offerings to those of other binary options brokers. Get the scoop in the 24option review below.
Founded in: 2010
Headquarters: London, UK
Minimum Deposit: $200
Minimum Trade Amount: $24
Maximum Per Option: $3000
Languages available: English, Spanish, French, German, Arabic, Portuguese, Romanian, Japanese, Turkish, Italian
There’s no doubt that with a bold black background and gold leaf buttons, 24option is really trying to entice traders with a trading platform that exudes luxury. Unlike other binary options brokers that offer “call” and “put” buttons for standard (high/low) options trading, 24option uses straightforward plus and minus buttons that leave no room for confusion. As with any binary options trading, traders can judge whether the price will go up (plus button) or down (minus button). Another thing we appreciated (though we didn’t quite notice right away), 24option offers multiple views of its trading platform so that traders can choose the one they find easiest to use.
We found the buttons for the OneTouch trading and Boundary options trading to be markedly less intuitive, but the company does explain each type of trading on their right sidebar, as well as having textual descriptions of each button above the column, to minimize difficulties. Overall, we found the 24option trading platform to be organized, efficient and easy to work with.
One of the most useful features that we found during our 24option review was their free demo account, which was surprisingly hidden on the site. A bit of investigating indicated that traders are eligible for a free demo account only after they make a minimum deposit of $200. Still, compared to other binary options brokers such as Bloombex Options which don’t offer a free demo, this was surprisingly comforting. Equally comforting was the broker's BuyBack option which allows traders to essentially 'cancel' their trade up to 5 minutes before expiry to avoid losing the bid. Although all of the money won't be returned, this option works well to avoid a total loss on the position.
We were also satisfied with the company’s ample binary options resource center, including a full glossary of trading-related terms. However, more useful than this is the personalized trading tutoring that is available via chat.
Finally, we were excited to see that 24option offers a wide range of bonuses which is always a nice thing for a new trader. Although we don’t necessarily recommend choosing a brokerage based on the company’s bonuses alone, it’s an added perk if you select 24option on your own.
We always prefer chat support as the fastest way to get answers to the most pressing questions. 24option offers fantastic chat support, which is available in 8 different languages. We chatted with 24option on 5 occasions and always received prompt, courteous service. Phone support is available in 7 languages and 7 different country codes, so traders who prefer to speak to a representative should be able to find someone in their region.
Buried deep down at the bottom of the contact page is information for email support, but we couldn’t help wondering why anyone would prefer this method of assistance when there are instant options available.
Our biggest complaint about 24option is that the demo account isn’t free and that its existence is not entirely obvious on the website. Nevertheless, this grievance was overpowered by the fact that a demo is available, even if it’s slightly obscured. Otherwise, we found no real problems with 24option. We noted that most of the site’s pages are on a secured server (HTTPS), which gave us confidence before depositing, and we loved the way the account registration was laid out so that all of the required fields were on one screen. Registration was easy and with multiple methods for deposit and withdrawal, we had no problem funding our account as we desired.
We noticed that the brokerage does not offer a video guide to their platform as other binary options brokers do, but with instructions strategically located on nearly every page, we had no difficulty executing our trades.
24option’s About Us page explains that their team is comprised of professionals in the Forex trading and online marketing industries. Even a short look at this company’s offering will remove all doubt that the founders of this company are familiar with the users’ needs and wants. Although the site’s dark color is markedly unusual, we found that once we got used to it, it brought a surprising charm and elegance to the trading experience. Whether you’re looking for your first binary options broker or to leave your current broker, we are confident that you’ll like 24option.
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STAY AWAY of them, recently they stolen my money, they have a fraud bonus option...joseluis54 January 2013
Don't use 24options.com ….. Slow withdrawals, bad support and terrible platform.
There are much better FX options brokers you can choose from.
24Option was my 1st binary platform, and my last - the service is SO great, and they make it SO easy that i'll never have to go elsewhere. Sometimes i loose because I'm a new trader, but I also win a lot.MariaR November 2012
I was trading with 24option.com for a few weeks and I want to warn you to stay away from this company . I had a technical issue that made me loss money and they didn’t help me and also they wouldn't compensate me for my losses . I loss a few hundreds of dollars.
STAY AWAY FROM THEM!!!!!
24Option has excellent trading bonuses, quick & easy registration, and is an overall great broker to be using. I myself, enjoyed using it and I'm sure many others have enjoyed it. I'd love to hear other peoples' thoughts about this. Let me know!knownware September 2012