24Option Review

24Option opened for business in 2010 and quickly climbed the broker ranks. Mika Holdings Inc. backs this broker, as well as another popular broker, OptionFair. Though their main office is in Limassol, Cyprus, 24Option has its corporate headquarters located in London, United Kingdom. TechFinancials powers the platform provided by this broker, and the platform does offer some unique features that binary options traders may wish to examine.

24option Trading Platform Features

The design of the 24Option platform is one of the cleanest of all. Consisting of three colors, the platform is easy on the eyes. Tabs allow for easy navigation between trade types, with asset options listed underneath. Upcoming trades are clearly listed, with each including the target price, above/below option, return percentage, and expiry time. The platform is available in an impressive 16 different languages.

Trading Room

Historical Data Charts

A mobile trading platform is also offered. The mobile platform is web-based, just as the basic platform is. No download is required. Instead, 24Option provides designated web pages that are designed specifically to load on smartphones, tablets, and other mobile devices. All of the functionality that is provided within the standard platform are also made available in the mobile platform.

24option Trade Types

24Option offers High/Low, One Touch, Boundary, and 60 Second trades. The 60 Seconds trades were just recently added to the platform. These four trade types have become the standard types in binary options trading. Each will provide a different mode of trading and each can allow traders to make use of effective strategies.

Trading Type Navigator

Assets Available

The asset list provided by 24Option could benefit from some new additions. However, the broker does well in providing some of the most popular underlying assets. These underlying assets are available in all four major asset classes and include: 11 currency pairs, 3 commodities, 9 stocks, and 13 indices. It is not known at this time if 24Option will be adding additional underlying assets to their current lineup.

24option Payout/Return Percentages

Binary options trades that end in the money will offer a payout percentage ranging from 70%-89%, with the average payout percentage being 85%. High yield trades may payout as much as much as 310%. With payout percentages as high as this, it comes as no surprise that 24Option does not offer refund percentages on most trades that end out of the money.

Account Requirements

Basic account registration is free and will allow binary options traders to access the platform and tools provided by 24Option. In order to begin trading, a financial deposit will need to be made. Credit cards, Liberty Reserve, MoneyBookers, and wire transfers are the accepted means of deposit. On credit card and electronic payments, the minimum deposit is set at $250. Wire transfers require a minimum deposit of $1,000. There are several currency options to choose from, including US Dollar, British Pound, Japanese Yen, and the Euro.
There is a daily maximum deposit limit of $10,000 and a monthly deposit limit of $40,000. Credit card and electronic payment deposits are credited to the trading account immediately. Wire transfer deposits can take up to 5 business days to show up in the trading account.
The minimum investment amount per trade is set at $24. There is no maximum limit per trade. However, there is a limit of $10,000 on the total amount of live investments at any given time.

24option Withdrawals

All withdrawals will be processed back to the method of deposit that was used. 24Option does have a minimum withdrawal amount of $100 in place for wire transfer withdrawals. However, there is no minimum in place for credit card or electronic payment withdrawals. There are fees associated with each withdrawal method. For credit cards this is 3.5%, MoneyBookers is 2%, Liberty Reserve is 1%, and bank wire transfer fee rates vary by currency type.

Banking Methods

Regular traders will not have to pay a withdrawal fee on the first withdrawal. Gold level traders are provided with one free withdrawal each month. Platinum level traders are provided with free withdrawals at all times. All traders will need to verify their identity and account ownership prior to receiving their first payout. Verification can be completed via email.

24option Customer Service

24Option customer service is available in three forms. These include live chat, email, and telephone. Customer service is available in several languages including English, French, Italian, Japanese, Spanish, Portuguese, Arabic, Turkish, and Russian. Emails can be sent directly to: info@24option.com. Live chat can be initiated by selecting the, “Start Live Chat” button on the website.

Live Chat in 7 Languages

There are 13 different international phone numbers posted within the “Contact Us” section of the website. The main number for the Cyprus location is +357 25 030600. The main number for the UK headquarters is +44 203 355 7204. Customer service is available around the clock.

24option Trading Tools

24Option ranks as one of the best at providing trading tools to binary options traders of all skill levels. They provide a virtual tour, video center loaded with helpful content, trading eBook, interactive eBook, and an education center that is loaded with extra learning tools. Also available is a twice a week live webinar that covers a broad range of topics related to binary options trading. Though they do not provided designated demo accounts, free registration provides access to each of these tools.

Video Trading Tools

24option Scam Alerts

24Option has been in operation long enough to have revealed any red flags or signs of a scam. Aside from the most basic complaints that nearly all brokers receive at some point, there are no signs of any 24Option scam. The platform is reliable, as are payouts. Customer service works well to handle any problems and provide assistance to those who need it.