Review

24option is a market-making spot Forex and CFD broker located in Limassol, Cyprus and regulated by CySec. 24option opened its doors to traders in 2010 and for several years was in the forefront of binary options trading. They decided in 2017 to expand by moving away from binary options, and now offer trading in spot Forex and CFDs only. The CFDs on offer cover a wide range, from popular individual international stocks to commodities such as metals, energies and softs, as well as equity indices. They also offer a good, wide selection of Forex currency pairs.

24option Broker Review

Accounts

There are five different account types to choose from at 24option: Basic, Silver, Gold, Platinum, and Diamond. The Basic account requires a minimum deposit of $100 and allows trading with floating spreads from 3 pips on EUR/USD. Other account types require increasingly higher minimum deposits, as you move up the ladder of the better terms which are offered. The Standard account is the same deal as the Basic Account, but also offers trading alerts and a personal coach. The Gold account is the same deal as the Silver account, except spreads are offered from 2 pips on EUR/USD. The Platinum account has several edges over the Gold account: lower spreads (as low as 1.5 pips on the EUR/USD currency pair), no withdrawal fees, access to the research website, and a live training session. Finally, the deluxe Diamond account, in addition to the full offering of the Gold account, offers clients free tickets to a top European football team and a customized trading platform.

The different accounts are easy to understand and are transparent. The major differentials between accounts are varying average spreads.

A demo account is available, as is typical with nearly all spot Forex and CFD brokers.

A wide range of over 50 Forex currency pairs, 89 individual leading global shares from American and European stock markets, over 11 leading equity market indices, spot metals (gold and silver) plus several other commodities such as crude oil and a few softs such as coffee and sugar, and one of the widest range of cryptocurrencies that we have seen, are offered for trading by 24option.

Features

A wide choice of tradeable instruments is offered, as well as a choice of two trading platforms: the perennially popular MetaTrader 4 or the broker’s proprietary web-based platform.

24option Broker

Education

24option provide a range of educational material. They host live trading webinars, offer free “learn how to trade” eBooks, as well as a free detailed daily market report. There are a range of recorded webinars designed specifically to help trading beginners, which can be viewed at leisure. There are additional levels of webinars aimed at providing detailed trading strategies and ideas suitable for intermediate and advanced level traders.

24option Broker Education

Bonuses and Promotions

Although the offering of bonuses and promotions has been restricted for brokers based in Cyprus by CySec regulation, there are currently two legacy promotions which are offered by 24option. Anyone signing up as a new client and downloading the mobile app received a one-off tradeable bonus of $24. Additionally, discretionary cash bonuses may be paid from time to time to particularly active or otherwise valuable clients.

Deposits/Withdrawals

Depositing funds into a 24option account is an easy and secure process. Deposits may be made using a range of methods, including credit cards, bank wire transfer, and Skrill. Withdrawals can be made to credit cards, or by wire transfer.

Customer Support

Customer support is based in Cyprus. Clients can contact a 24option representative by telephone during business hours, and can use email anytime of the day. There is also a direct chat service available through their website.

Conclusion

24option have transitioned away from binary options into an offering for traders looking for the ability to trade a very wide selection of assets, including stocks, cryptocurrencies, metals, stock indices, and commodities.

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Features

In terms of features, the stand-out strengths of this broker’s offerings are:

  • A wide range of instruments available for trading: all the major and minor Forex currency pairs, as well as several exotics; also, a good range of global equity indices, plus several commodities, and an extremely wide selection of stocks and shares offered on leading global equity markets. There is also an especially wide selection of cryptocurrencies offered.
  • An option to trade with the most popular trading platform in the industry, MetaTrader 4
  • Regulated by a major industry center (Cyprus).
  • An extensive provision of free educational materials and daily market analysis and commentary across all markets.

Company Information

  • Broker's Name : 24Option
  • Headquarter : Cyprus
  • Regulation : CySEC

Account Information

  • Type of Broker : Market Maker
  • U.S. Clients Allowed :
  • Minimum Deposit : $100
  • Maximum Gain : 89%
  • Minimum Position : $24
  • Account 1 : Basic
  • Account 2 : Silver
  • Account 3 : Gold
  • Account 4 : Platinum
  • Demo Account :
  • Islamic Account :
  • Segregated Account :
  • Managed Accounts :
  • Institutional Accounts :
  • Deposit Options :
  • Withdrawal Options :

Instruments Traded

  • ETFs :
  • CFDs :
  • Commodities :
  • Metals :
  • Stocks :
  • Oil :
  • Gold :
  • Binary Options :
  • Indices :

Trading Platforms

    • OS Compatibility :
      • Mobile
      • iPhone
      • iPad
      • Web
      • Mac
      • Windows
      • Linux
  • Trading Signals :
  • Charting Package :
  • Automated Trading :
  • Market Analysis :
  • Chart Trading :
  • Scalping :
  • Hedging :
  • Mobile Alerts :
  • E-mail Alerts :
  • Trailing Stops :
  • Guaranteed Stop Loss :
  • Guaranteed Limit Orders :
  • Guaranteed Execution :
  • One-click Execution :
  • OCO Orders :
  • Interest on Margin :
  • Web-based Trading :
  • Mobile Trading :

Customer Support

    • Website Languages :
      • English
      • Arabic
      • Spanish
      • Russian
  • Support Hours : 9/5
  • E-mail Support :
  • SMS Support :
  • Chat :

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Platforms

MetaTrader4

The MetaTrader 4 is an independent trading platform, developed for trading FX, commodities and other products and is one of the most advanced and easy platforms to use. It remains the gold standard of trading platforms.

In addition to the wide range of markets available to trade, the MT4 platform provides traders with a multilingual interface, instant execution, built in help guides for MT4 and MetaQuotes Language 4, a complete technical analysis package including a wide range of in-built indicators and charting tools, various custom indicators and time periods and more.

Automated trading is also offered through the MetaTrader 4 platform where traders can create and test their automated trading strategies by using the MetaEditor, Strategy Tester and Compiler tools within the MT4 platform.

With this automated trading system clients may create Expert Advisors, software programs enabling traders to constantly monitor the markets. Custom Indicators help traders to predict future price movements by analyzing past and current price information. And the Scripts feature gives traders the opportunity to set up an automatic repetition of specific operations such as closing all positions with a single keystroke.

MetaTrader Mobile

The MetaTrader 4 and platform apps can be used on iPhones, iPads, Multi-Terminal, and all Android devices.

Web Client Platform

24option offer as an alternative to MetaTrader 4 their own proprietary web client platform. It is entirely web based. Although such platforms can be prone to glitches and freezing, we find it seems to work very smoothly. It is intuitive and easy to use, yet there is no doubt it has less features than MetaTrader 4, so many traders will prefer that option.

24option App

Every second counts! The app can ensure you never get caught short (pun intended) when the market starts moving at an awkward time, as it so often does. Using the 24option app, you can enjoy the full functionality of 24option’s offering at any time, in any place you are with a smartphone.

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24option Crypto

There are many Forex brokers that offer cryptocurrency trading, but few are as comprehensive as the 24option crypto currency offerings. 24option prides itself on its wide asset offerings, and its cryptocurrency offerings are no different.  The brokerage offers CFD trading for the five top cryptocurrencies, including bitcoin, bitcoin cash, litecoin and Ethereum.

24option offers traders educational resources for trading CFDs and the strategies are valid for trading cryptocurrency CFDs as well as others.  Among the recommendations the broker makes is to focus on a limited number of markets so as to sharpen your trading strategy and make sure it’s both profitable and relevant to the CFD (or, in this case, the cryptocurrency CFD) you wish to trade.  Practice your trading strategy consistently on the same assets, and hopefully you’ll see the desired results. 

Another suggestion made by 24option which is relevant both to bitcoin trading and trading of other digital currencies is to create a solid trading plan before getting started.  Though many cryptocurrency traders are eager to jump on the bandwagon without an actual trading plan because they ‘have a feeling’ that the market is going to go up or down, or are sharing in the crypto craze that is taking the world by storm.  However, this type of overzealous action can be extremely dangerous, especially as cryptocurrencies tend to fluctuate wildly, even without specific market triggers.  Taking time to make a strategy-based trading plan will ensure that you don’t trade emotionally, but make intelligent, thoughtful decisions that will bring long-term profits.

The minimum deposit for 24option bitcoin trading is $250, and the minimum withdrawal amount is $10.  Deposits can be made in USD, GBP, JPY, EUR and RUB.  Your trading currency cannot be change once it is set, so choose your deposit currency carefully.  Some traders have noted that only one withdrawal can be made per month with 24option (bitcoin trading and regular trading), so consider this limitation when making your withdrawal.  However, we don’t see this as a serious drawback, as 24option is a regulated brokerage that offers reliable cryptocurrency trading.  

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User Reviews

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14 User Reviews
Brian S.
Brian S.

24Options has a simple registration process. Their deposit and withdrawal methods are easy and fast. Their customer service is superb and their trading platform is generally navigable and user-friendly. They also offer excellent bonuses which are not tied-up to your capital. One thing I particularly like about 24Options is, unlike other platforms, they allow you to withdraw from your account even if you haven't accomplished the volume of trades required to qualify for the bonus as long as you are willing to have your bonus forfeited.

Eden James
Eden James

I love that 24Option continues to update its site to make it easier for beginner traders like me to place trades. 
It's really fun to trade with 24Option.

Sanchez Rodriquez
Sanchez Rodriquez

I guess I must have missed the time they were closed. So far, I have been very happy with the results of my trades with 24Option. 

rjkulipa
rjkulipa

24option.com website was not opening from 10th march 2014.....anybody ,can you tell me why??
its gone for scam or what????

SebastianH
SebastianH

I don’t know. I have been trading with 24option for over a year and I haven’t had any problems with them.  The platform is pretty simple, customer service is good and I joined a few webinars where I actually learned something. I looked around but didn’t find another broker that offers better.

VictorT
VictorT

The 24option platform is the best I found. I did a lot of research into different brokers before I made my first deposit with them. One time I had a problem logging in, I contacted their support and got an answer quickly.  I have a platinum account so I even get free withdrawals.

JoshuaW
JoshuaW

After looking for a broker to trade with I found 24option.com. Have never had a problem with them and I have been trading for about a year.

joseluis54
joseluis54

STAY AWAY of them, recently they stolen my money, they have a fraud bonus option...

Paul
Paul

This is the best binary option platform! I tried a bunch of them and this was the only one that had good service and an easy platform to use. They even have webinars all the time and videos about trading, will not look for a new broker any time soon.

martina
martina

Don't use 24options.com ….. Slow withdrawals, bad support and terrible platform.
There are much better FX options brokers you can choose from.

GeorgeS
GeorgeS

Worked with other brokers before, Some of them are well known, But 24option gave me the best service and the easiest withdrawals and deposit.

MariaR
MariaR

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.

orano5
orano5

Hi All
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!!!!!

knownware
knownware

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!

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Did you have a good experience with this broker? A bad one? Tell our team and traders worldwide about your experience in our User Reviews tab. Your email address will not be posted.

Please make sure your comments are appropriate and that they do not promote services or products, political parties, campaign material or ballot propositions. Comments that contain abusive, vulgar, offensive, threatening or harassing language, or personal attacks of any kind will be deleted. Comments including inappropriate, irrelevant or promotional links will also be removed.


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Review info: 24Option
Review Date:
Rating : 4.5
Reviewed By :