24Option Review – Pros & Cons, Free Demo account

Best Binary Options Brokers: 2020 Ranking
  • Binarium
    Binarium

    Best Choice! The leader in our ranking!
    Perfect for beginners!
    Free Demo Acc + Free Trading Education!

  • Binomo
    Binomo

    Good choice for experienced traders!

24option – trusted forex trading platform review

вњ… This Trading Platform is available in Singapore

24option is one of the leading brokers of the binary options niche. Since 2020, this broker started to gain a leading position in the Russian financial market in terms of trading binary options. The main goal of 24option is an absolute success of each trader!

This broker constantly improves service to attract clients. 24option expands the list of assets and improves conditions for its traders. 24 options provide analysis of trading transactions and create their rating for carrying out awarding with cash prizes for the most active traders. 24option actively conducts promotions, contests, and also provides additional bonuses for refilling deposit balance.

Location – Cyprus, Limassol

Trading platform – TechFinancials

The minimum deposit – 200$

Minimum amount of the deal – 24$

Yield – up to 89%

Free Demo Account – NO

Regulators – CySEC, FCA, MiFID

Types of funding – Visa, MasterCard, Discover, Skrill, Bank transfer

Assets – 100+ (commodities, stocks, indices, currencies)

Return on losses – NO

Types of options – High/Low, Boundary, Touch, High Yield

Applications – mobile, tablet

This broker actively carries out training for traders of all levels. Everyone is able to learn the necessary trading strategies, concepts and methods of risk management. В Every new trader, even without any basic knowledge, has the chance to learn secrets of trading from “scratch” with access to huge collection of training materials. The training itself is presented as an educational center and consists of sections with “step-by-step” structure of learning for trader.

Despite the fact that 24option does not provide Demo account, trader of any level can choose a suitable type of account for his own needs among presented:

Profit up to 82%

Fee for monthly money withdrawal

Basic access to “Trading Central”

Profit up to 82%

Fee for monthly money withdrawal

Basic access to “Trading Central”

Profit up to 82%

Fee for monthly money withdrawal

Basic access to “Trading Central”

Training in real time mode

Profit up to 82%

Fee for monthly money withdrawal

Basic access to “Trading Central”

Training in real time mode

Access to the research website

Fee for monthly money withdrawal

Basic access to “Trading Central”

Training in real time mode

Access to the research website

Increased trade limit

Input-output of monetary funds is carried out through payment systems Visa, MasterCard and Chinese Union Pay.

Regarding to ways of trading, 24option offers for traders: “Short”, “Price above-below,” “One touch” and “Boundary”. The validity is following: 30 sec, 60 sec, 2 min, 5 min, 15 min, 30 min, 1 hour, 24 hours+ and till the end of the month. And the maximum sum of transaction is set by the broker in the amount of 100 000$. Profit of transactions varies in the range from 65% to 450%.

24option also provides traders of all experience levels the ability to create charts and market analysis using the Meta Trader 4 Platform (MT4). This Platform enables the most popular tools for graphing and provides immediate execution of queries and results in real time.

The advantages of the platform:

Simple and intuitive interface

Large number of manuals and instructions

An excellent system of trading signals

Trouble-free withdrawal of funds

Great hardware of the trading

Modern security protocols of web trading

7 Binary Options

In our review of 24Option, you will find that this broker offers top notch binary options trading. The broad span of their service provisions makes the user feel completely comfortable with every phase of the entire process.

The 24Option team immediately helps clients to realize the features are innovative and help investors to expand their knowledge. The platform is phenomenal with a full category of trading options that offer investment amounts to appeasing every budget. You can also access your account from any mobile device to enable you to utilize all the trading chances.

24Option is one of the recommended binary options brokers in 7BinaryOptions.com.

Basic information:

Online since: 2020
Jurisdiction: CySEC
Software: TechFinancials
Max Returns: 88%
Minimum Deposit: $100
Minimum Investment: $24
Maximum Investment: $100 000
Currencies: USD, EUR, GBP, Yen
Mobile: Yes
Countries: All nations excl. USA & Australia

  • Very good trading software
  • 60 s option
  • Excellent customer service
  • Free signals
  • Mobile Trading
  • Doesn’t accept US traders

7 Binary Options Rating:

Is It Regulated?

Sometimes it is hard to analyze the trustworthiness of a binary options broker. After all, a fantastic and professional website doesn’t mean anything. Extensive features are no guarantee of honesty or sound business practices either. Finding out whether a broker is trustworthy is crucial. The first thing that we do is analyze and review any broker, regardless of whether they are new to the market or one of the more established players.

We use a number of methods for comparing how trustworthy the various brokers are, but the most important is whether or not they are regulated. Regulation provides third-party oversight to ensure that the broker is not doing anything that might harm or unfairly disadvantage its customers. When looking at the regulatory status of the various binary options brokers that are available, 24 Option is in an elite group.

This is because 24 Option is regulated by CySEC. In fact, it was one of the first binary options brokers to be officially recognized by CySEC when the regulator started to monitor the industry.

CySEC regulation is impressive in itself, but 24Option has taken it a few steps further. Specifically, it also has a registration by a number of institutions. 24option takes measures to safeguard Clients’ Funds. In this sense, the Company cooperates only with banks authorized and regulated by EU member states and that are highly rated by credit rating agencies

In addition, CySEC is the regulatory body in Cyprus which allows to brokers to provide its services within the European Union. The mission of the CySEC is to exercise effective supervision to ensure investor protection and the healthy development of the securities market.

It is important to say that it is healthy to be skeptical when looking at binary options brokers – the industry has too many cowboy operators. 24Option ticks all the right boxes, so it is worth further evaluation.

Available Underlying Assets Reviewed

Generally speaking, brokers that offer a large number of underlying assets offer the best trading experience. This is because you have more choice and can diversify and/or target your trading strategy to suit your needs. You will not be disappointed by the range of underlying assets available at 24Option.

It has more than 120. This is more than almost all other brokers and is probably due to the fact that 24Option is one of the longest operating of all binary options brokers. It gives you the choice to trade binary options and Forex/CFD in over of over six stock, commodity, indices, and currency exchanges.

Best Binary Options Brokers: 2020 Ranking
  • Binarium
    Binarium

    Best Choice! The leader in our ranking!
    Perfect for beginners!
    Free Demo Acc + Free Trading Education!

  • Binomo
    Binomo

    Good choice for experienced traders!

The underlying stocks include many of the biggest and more well-known companies in the world. This includes oil companies, technology companies, telecommunications companies, car manufacturers, and more. There are around 60 to choose from; and because they are major underlying stocks, you will find a lot of information to analyze and track, which should help your decision making process.

Commodities are a popular underlying asset for many traders involved in binary options, and many include specific commodities as part of their overall strategy.

With 24Option, you can choose from a number of commodity options including:

  1. gold
  2. silver
  3. crude oil
  4. copper
  5. platinum
  6. you can even place binary options and Forex/CFDs trades on a coffee

The range of underlying indices available at 24Option is not as good as the other types of underlying asset, but there are still all the big names. This includes Dow Jones and the FTSE 100, two of the most followed indices in the world. You can also trade on the S&P 500 as well as Russia’s MICEX and China’s Hang Sheng.

Currencies are traded in pairs. You have to pick the currency that you think will perform better within the set timeframe out of the two. The currencies included in the various pairs are the world’s major currencies, so you should be able to do plenty of research and trend analysis. The currency pairs that 24Option offers include:

You should remember that research is the crucial part of every trading strategy whatever underlying asset you choose and whatever type of option you decide to trade. Make sure you get to know the markets you trade in as much as you can. What is the Trading Platform Like?

Analyzing the trading platform is a crucial part of determining the quality of a binary options broker. The trading platform is essentially the user interface— the place where you gather information, monitor data, place trades, and manage your account.

Trading platforms vary greatly from broker to broker, but you can put them all into two broad categories. The first is a custom built platform, and the second is a platform based on software created by well-known providers (SpotOption is probably the best-known example). There are advantages and disadvantages to both approaches.

Creating a custom platform means the broker can optimize the platform for its customers, i.e. tailor it to the services it offers, the underlying assets it offers, and the options it offers. A custom built platform also gives the broker more control over making it easy to use and ensuring every trader has all the information they need.

Using a third party platform, on the other hand, is less costly to develop and less risky, as the software is already tried and tested.

This is all important, as the trading platform offered to customers can make or break a binary options broker. In other words, the trading platform is more important than special offers, or other marketing tools. After all, if traders don’t like using it, they won’t.

Points You Should Know about 24Option Platform:

  1. 24Option chose to use a third-party platform from the Israeli company TechFinancials. It is an established name in the binary options and forex broker industries. Therefore, its platform is well tried and tested. It is also intuitive with an attractive and easy to use design.
  2. While it is also free from clutter, it is packed with information, so you can make the right decisions for your trades. This includes prices that are updated in real time. Real-time prices mean any quotes you get are based on the latest available information provided by 24options liquidity provider.
  3. In addition to the above, there is an impressive variety of pricing options available at 24Option. This optimizes the pay outs, which makes it possible (with the right strategy) to expand investors trading experience. Obviously, it is not possible to reach a pay-out level of 100 percent, but 24Option’s score is typically between 70 and 88 percent per successful trade. But have in mind that if your prediction is wrong you will lose your invested capital on this trade. This is more than respectable and is also better than most, if not all, of its competitors.
  4. Some people in the binary options industry describe TechFinancials’ platform as being mid-range. That may be so, but it still manages to have everything the trader needs. This includes advanced traders. For example, you can trade on a wide range of underlying assets that includes currency pairs, the stocks of many blue chip and internationally recognized companies, commodities, and indices.
  5. Analytical tools are available also, so you can gather all the information you need before deciding to make a trade. Most of this is represented in graph form to make it as easy as possible to read and identify trends. Some technical indicators are available too.

This above is just an overview of the platform with a focus on the design and technical aspects of 24Option . Now it is time to get into it in more detail by looking at some of the features and options available. After reading the next section, you will have a better understanding of what 24Option is capable of and what you can expect to achieve.

What Option Types Are Available?

Options are a type of trade that you can make that will end in either a profit or loss. Generally, there are three main types:

  • Underlying asset specific options – These can only be used to place trades from a specific list of underlying assets.
  • Time specific options – These are trades that stay live for a specific time period before expiring. They can be either long term or short term.
  • Mixture – Other options mix both of the above, i.e. they are limited by both underlying asset and time.

24 Option’s option types fall into these broad categories. Specifically, it has four options you can choose from. They include:

  1. High/Low Option

The High/Low option is one of the most common binary option types. In fact, every broker that we have analyzed offers High/Low options, although some call them Call/Put options. Despite the name, they are the same thing.

In a High/Low option trade, you predict the final price of an underlying asset based on its current price. In other words, you predict whether the final price will be higher than the current price or lower than the current price. The trade will have an expiration time, and you win or lose depending on whether your prediction is correct at that time.

High/Low binary option trades can be placed on a wide variety of underlying assets, including currency pairs and stocks. It is a low-risk form of trading, which means the pay outs are typically lower than other option types that are available. Because they are low risk trades, they are suitable for new traders and cautious traders that don’t want to occur big losses and want to explore their options.

  1. One-Touch and No-Touch Options

One-Touch or No-Touch trades are based on price, so they fall into a similar category as High/Low trades. They are a more risky trade, as they are harder to accurately predict. As a result, pay outs are typically much higher.

In both variations of the trade, the broker sets a target price for the underlying asset and an expiration time. If you select the One-Touch option, you are predicting the underlying asset will reach the price set by the broker before the time expires. As soon as this price is achieved by the underlying asset, the trade ends and you get the profits. If the underlying asset does not reach the predicted price by the time the trade expires, you lose the money.

If you select a No-Touch option, you are predicting that the price of the underlying asset will not reach the set price. If it does reach the set price, the trade ends and you lose. To win you have to wait until the expiration time during which the underlying asset cannot “touch” the target price.

This is a risky and, therefore, potentially more lucrative trade because you are making a more difficult prediction. For example, it is easier to predict if a trade is going to go higher or lower than its current value over the next five hours. It is much harder to predict that it will reach a specific value in that time period. Similarly, it is also hard to predict that it won’t reach a target price in that time period. This is because you have to predict both the movement of the price and how much it will move by. With a High/Low option, you only have to predict the direction of movement.

  1. Boundary Options

Boundary options carry a level of risk that sits between High/Low options and One-Touch/No-Touch options. As a result, the pay outs are more than they are for High/Low options but are lower than touch options.

In a Boundary options trade, an underlying asset will be given a boundary price by the broker. This is a price range that includes both an upper and a lower value. To make the trade, you predict whether the underlying asset’s price will stay within the boundary during the time period of the trade or whether it will fall outside the boundary.

This is why there is less risk than touch options, i.e. there are more price possibilities that result in a win.

Because of the nature of Forex markets, most experienced traders do not place Boundary options trades on Forex pairs.

  1. 60-Second Option

This is one of the newest types of options in the binary options industry, and it is available on 24Option. It is a high-thrill, high stakes, high pay out type of option that expires 60 seconds after you open it. A number of variations are available. You can win big, but it is not a method of trading for the risk averse.

Option Expiration Times Reviewed

Expiration times can make the difference between a successful and an unsuccessful trade. In fact, every second counts. Just one second is all it takes to turn a profit into a loss or a loss into a profit. There are no strict rules that determine whether the expiration times offered by a broker are good or not. However, all good platforms offer a wide variety to choose from. This is exactly what you get with 24 Option. The expiration times it offers include:

Short-Term

Short term expiration times allow you to make multiple trades in a short period of time. They work particularly well with trades on the underlying stocks of major companies and on currency pairs. Good results can be more challenging to achieve with binary option and Forex/CFDs trading in indices and commodities. Therefore, you should consider the type of underlying asset you are trading on before opting for a short term option. You expect average levels of profit, although the risk is normally on the high side.

The short term expiration times available at 24Option are:

  • 60 seconds
  • Two and five minutes
  • Half an hour and an hour

Long-Term

There are two long term expiration times available at 24Option. They are five hours and a variable length end-of-day expiration time. This is more limited than some other platforms, which also offer longer expiration times; but those timeframes are rarely used by traders. Binary options traders typically prefer shorter terms and like the trading day to close without any open positions. Therefore, the offering from 24Option is sufficient.

Demo Account Availability

Demo accounts are available for new traders at 24Option. This account lets you learn how to use the trading platform and get to know the features and options of the dashboard. It is not a stripped-down version, so everything you see in the demo account is exactly the same as the real account you will get when you start trading for real.

In the demo account, you can trade; but, as hinted in the last paragraph, they are not real trades. This means you don’t have to deposit or risk any of your own money when using the demo account. You are given $40,000 of virtual money so you can learn how 24Option works. This also lets you try some trading strategies so you have a plan whenever you start putting your own money on the line.

In other words, using a 24Option demo account is a completely risk free way of deciding whether you like the platform. It also lets you find out if it has all the tools you need, and it lets you test trading strategies.

One thing you should remember is that you have to keep your virtual balance above $0. This is because the virtual funds are not replenished, so once it hits zero, you will not be able to make any further virtual trades.

If you are new to binary options trading or have limited experience, we highly recommend you start with 24Option’s demo account. It is sometimes tempting to jump right in with real money, but it is always better to test the binary option system, get comfortable with the platform, and then make an informed buying decision. If you decide after using the demo that you are happy, you can simply deposit money into your account and begin trading for real cash. If you are not happy, you never have to log in to the account again.

Islamic Accounts

Binary options are traded by people from all backgrounds. It doesn’t matter what country you come from, whether you are male or female, how much money you earn, how good your education was, or what your religious beliefs are. The only rule is you have to be over 18. After that, all you need is Internet access, a willingness to learn and a tolerance for risk. However, most binary options brokers don’t have a suitable offering for one section of the community – Muslims.

24Option is unique in this regard, as it does offer the option of an Islamic account. This gives the hundreds of thousands of Muslims interested in binary options trading the opportunity to get an account and trade with the peace of mind that they are doing it on a platform and with an account that complies with Sharia Law.

It is free to set up and own an Islamic account at 24Option, just as it is free to have a standard account. Nothing about the account could be described as usury. This means there are no hidden charges or rollovers. Commission and interest are not charged either.

In addition, Islamic accounts are available in Arabic to cater to Muslims who speak it as their first – or only – language. The site itself is in Arabic as is the user interface. All the help materials are available in Arabic too, including binary options trading tutorials, ebooks, and more.

Possible Payouts

We found that 24option payouts are a bit to rave about in the meantime as well. In fact, most payouts tend to be typically higher. The payout is between a 70 and 88 percent on successful traders. For most 60 seconds options, clients have made as much as a 70 percent payouts and that’s great for one minute in our opinion.But investors should have in mind that they might lose all their invested capital.

Personal account managers explain to the clients that the payouts will vary and change as new underlying assets enter the platform. It is important to remember that clients might lose their invested capital as well. However, most investors find comfort in knowing that all of the payouts are viewable on the trading platform and this includes out of the money payouts.

Account Types

Another motivational tool during our review of trade efforts with 24option, is their various account types e.g. Platinum, Gold and Standard account.

  1. Platinum account holders generally have access to further features like high/low options, high-yield, boundary, and touch options. They get most update info about latest trends in the market, and they also get personal training session as well.
  2. Gold account holders usually get 2% return on each successful trade that they make and they can also trade all option.
  3. Standard account holders can also trade all options and they can access 24 hours customer support as well.

It helps to understand the depths of each account and which best fits your trading style. We found that the insight offered by the personal account manager team to be very useful in helping clients to decide which route to take as a beginner. The free demo account is a must for anyone on an entry trading level. This account provides the platform needed to familiarize yourself with the basics of binary trading options and without it, many newbies would be lost.

Underlying Assets

With 24Option you can trade Binary Option on different underlying assets such us currencies, commodities such as gold and silver, leading stocks such as BMW and Google, indices that include S&P500, DAX, and NASDAQ.The underlying assets of 24option review are very encouraging and provide great alternatives for various trade levels.

Boundary options are of course a favourite but we’ve found that High Yield options can be rewarding when traded with care. Traders gain a more clear perspective of the platform and its importance and this causes them to be more attentive to the underlying assets and available options. We also found as a positive incentive that 24option presents the option to close early as on online trading feature.

Screenshot of The Trading Software

Deposit and Withdrawals

The deposit interface of 24option is very simple to comprehend. It’s obviously simple if one who has never traded can do it. In addition to that, it’s fast and very safe to use, you can deposit your funds in GBP, USD, JPY and through digital payment. With all that’s going on in the world today, safety while trading is essential.

Minimum deposit amount offered by 24option broker is 100GBP, USD, EURO, and approximately 10000JPY. There are various methods of funding allowed for online binary trading, like clients can deposit funds by using MasterCard or Visa, Credit card, digital payment method or through bank transfer. The simple process afforded by 24option makes it more enjoyable. The withdrawal standard of 24option is without a doubt more convenient and many other brokers out there.

Customer Service

If nothing else we’ve mentioned encourages you to at least give 24option a chance, their superior customer service will win you over at every phase. It is most important to be provided great customer service and this has been our discovery at every phase of 24option. It is essential that we mention the significant number of available languages for 24option. This is a great underlying asset for international traders who desire to trade in their native language.

Although live chat is offered in various languages, this isn’t always possible. Most of the support comes through as English but there is support available in 13 other languages. For any binary options trading queries, 24Option has live chat, email and telephone numbers. This is in order to provide excellent customer service in a prompt and professional manner, anywhere in the world.

Summary

24Option trading platform is easy to use for trading binary options and it provides high returns for traders. It is also CySec regulated and has access to around the clock customer service for any assistance on trading. This all makes 24Option a binary option broker we can highly recommend.

Is this your final decision?

Additional information

Customer Service: Live Chat / Email: [email protected]
Languages: English, Spanish, French, German, Italian, Danish, Swedish, Russian, Latvian, Japanese, Arabic, Romanian, Korean, Finnish, Indonesian, Turkish, Portuguese
Trading Options: High / Low, Boundary, Touch Options, High Yield Options
Underlying assets: Currencies, Stocks, Indices, Commodities
Expiry Times: 60 sec, 2min, 5min, 15 min, 30 min, 1 hr, 24 hr+, End of Month
Deposits and Withdrawals: Visa, Mastercard, Bank Wire, Skrill Moneybookers, Diners Club, JCB, Discover Card, Liberty Reserve, Dankort, Cartasi, Laser, Visa Electron
Withdrawal Time: 1-3 bank days
Demo account: Yes

24option complaints and reviews 2020. Your reviews below!

This binary options broker is old enough so it is not difficult to find many 24option complaints.However, I searched a lot to find the most serious of the complaints because most of them are from angry or frustrated traders.

I searched many sites and I give the most important comments below. I also give a short 24option review after that.

Update: 24option does not offer Binary options anymore. But it offers CFDs/Forex trading. For the best binary options brokers of 2020 click here.

“Basic” “Silver” “Gold” “Platinum” “Diamond”
Broker Summary
Headquaters Cyprus
Foundation Year 2009
Free Demo account Yes
Regulation & licenses CySEC, IFSC
Accepted nationalities All countries except Belgium, Switzerland, USA, British Columbia, Canada.
Minimum Deposit 250
Minimum trade 24
Maximum trade 100000
Payout (returns)/Refunds 60-88%/ 0%
Expiry Times 2 minutes,5 minutes,30 minutes,1 hour
Early close Yes
Assets 61 stocks, 31 currencies, 11 commodities, 25 indices
Account Types Standart, Beginners, Gold, Platinum, Diamond,Islamic
Number of Assets 100
Account Currency USD, GBP, JPY, EUR, RUB
Trading Software Tech
Mobile Application Android and IOS
Deposit and Withdrawal Options Wire Transfer, Credit Card, MoneyBookers, Liberty Reserve
Withdrawal Time 3 days
24 Hours Support Yes
Support During Weekends yes
Customer Support Languages English, German, French, Arabic, Italian, Portuguese, Russian, Spanish, Dutch, Swedish, Norwegian, Polish
Phone Number >+357 25 262789
Email Address [email protected]

24option complaints all over the internet

Note & Update : most complaints are from the period 24option was offering binary options. Now it only offers CFDs and Forex and you cannot find so many of them.

Most of the complaints are about the “account managers”. They constantly call you and they want you to deposit more and more money. They are so persistent and annoying.

Many complaints were about the account managers that give many wrong signals (by the way, click here for my page of the best binary options signals around). So the trader loses the trades and they get the money. Some traders claim that they give fake signals on purpose.

Otherwise, 24option is a really really good service. No price manipulation, no withdrawal problems reported. Nothing dark.

What is my conclusion? Don’t listen to the account managers or the signals available on the website and you will do really good with 24 options. It is a very goog trading platform .

It has so many years around and the complaints are relatively few. Brokers that are not legitimate are closed after some years like Banc de Binary and many others. 24option is a serious business and is not here to grab some money and go. Read also my 24 option review conclusion below.

Here are some of the 24 option complaints by traders:

“I’m new to Forex and 24options in Cyprus account manager stalked me continuously to invest more and take a 100percent risk. He didn’t let me close the trade on a margin call. He pretended to be an expert in forex and aususd me that I’m in safe hands and they will guide me step by step. I’ve lost everything within 2 days opening the account. As an expert, he advises me to take a 100percent risk in one trade with 200 leverage. How can I complain about this? What can I do? Now they want me to 1. get a 40K loan and open 40 lots with 100percent risk 2. if not sell my house and invest in their company to recover my loss. Can anybody help me out with this scam?”

Here are more of the many complaints

“I would like to review what I have just gone through with one of your account manager by the name of Eric Smith. I was patiently listening to all stuff he had to say. When we were coming to the end of our conversation, I brought up a problem about a withdrawal problem using Skrill. He asked me if I wanted to close my account as well as I’m looking to withdraw my Money. He said he would not want to work with me if I am looking to withdraw my Money as he will not be making a profit. What good is making Money if withdrawal is an issue. He was very rude. The problem with the Skrill verification has been dragging for weeks and it has not been resolved till now! He just hung up the phone after saying another account manager will contact me! ”

“This company is the worst and also all the account manager that push the people with the martingale and lose all money”

“i had the serious misfortune of trusting kyri kyirakou of 24 option binary after he induced me to invest money in a binary options program that did not function in ‘good time’ or corresponded with its recommendations n who has continued to harass me for well over a year after I closed my account n repeatedly asked to leave me alone.. they continue to telephone me late at night, once or twice a week n wake the entire household..”

but I also found this positive comment:

“I’ve been dealing with 24 options for the last 4 months. I could say I had a good experience with them. my initial deposit was 2500$ after not touching my money for three weeks, I withdrew $1300 from it, it took like a week but because It was the first withdraw. excellent. besides, I have an account manager who gives me tips on managing my account, and tips on how to enhance my acc. very happy 10/10. recommended. good luck”

Here is a comment I found on a forum by a user that had only one post. This one:

“I joined 24option broker as a newbie to binary options and made my lack of experience perfectly clear to my account manager. This agent of them named Mark was able to help me learn the basics and now I am able to make good trades. Excellent support!”

Many would say that looks like a fake one.

And one about robots

“I paid into 24options because I was guided by a robot to open an account and have the robot work for me. They refuse to make it work for me, they want me to trade with one of their account managers.
I don’t want that, and now I have to see how I can get my money back. A scam! But this happens with other brokers too, they just don’t want to let a robot work for you.”

note : It is absolutely reasonable for a broker not to want a robot. And no serious broker lets robots trade. Only scam brokers like BinaryMate (read my review) cooperate with some Robot owners to trick their customers that they can make money while they are sleeping.

Some of the few 24option complaints about returns, execution times and withdrawals

“Is 6th week waiting for withdrawal process (5 months ago)”

“Have been trading with them for a while. Withdrawals take long sometimes but this is due to the payment method that I chose. Overall, I’m satisfied.”

Note: I found really few comments for withdrawal issues though. Most of them are from impatient customers. They are afraid of being scammed and they leave comments the same day they asked for the withdraw. But the withdrawal takes more than 3 days if it is a bank transfer. This is due to the banking system and depends on the country the broker is registered.

Here is someone impatient, like many other traders:

“Hi I got my money back now! I’ve got it last Friday. True to their words of 1-week processing. I think I judge them to early, I’m a bit hesitant and suspicious with brokers sometimes because I had a bad experience with my broker before. I’ve traded before with a few other firms and had issues withdrawing my money.24Option is responsible broker too. Reliable with straightforward procedures for withdrawal of profits. Sorry for making a fuss about them.”

I would like to mention here that the only broker without major complaints is Highlow. You can click here for my recent HighLow review. It only offers Binary Options though. No Forex/CFD.

Some controversial comments about customer service:

“Update on 24 option. they rang me and gave me the demo account I requested. I will test it out, hopefully, customer service has taken note of my problems. I will update this review later. Let’s keep an open mind lol”

“I was turned-off with their aggressive customer service before, you know when you’re a novice in this kind of things you want to take one step at a time. But now every transaction with them is seamless.”

Some traders do not read the terms & conditions:

“I didn’t use the account for a while and then realized I had been charged a withdrawal fee of about £50”

and the last ones before my 24option review:

“I like 24 Option.com because of the high trade size limits and the interface and decided to deposit £3,000. I was slightly put off with the low returns in comparison to other brokers though. The sales team/managers once you deposit only want you to trade with them so they earn commission on the volume of your trades and are very pushy trying to force you into depositing more money and taking their advice. I received slow execution times up to 3-4 seconds which I think is unacceptable in my opinion. I then asked to get a demo account to practice… and they told me I need to deposit more to get a demo even though I already deposited £3,000 and lost £3,000… Every broker has advantages and disadvantages but these are just too much, unfortunately! 5/10”

“I have traded with 24option binary broker and twice requested my deposit back..quickly they refunded my money..honest broker”

“The platform is good but here is what you need to know! The minimum investment you can make is £24 and they require you to make an initial deposit of £250. This is all good apart from the fact, that if you make a couple of loses £250 won’t be enough to recover.”

Note: now the minimum deposit is 100 euros, pounds or us dollars.

“No bad experience w/ 24option so far. Still trading with them for years now.”

Many comments and complaints are similar with these of the Stockpair broker.

24option Review

Providing traders the most updated technology and most profitable options in the industry, 24Option broker has already been one of the most renowned brokers in the binary trading industry. They say their goal is to make binary options money-making for every single one of their traders.

24Option has become the world’s one of the leading, renown and popular binary broker platform. With the positive ratings they achieved, it seems that this broker is serious about fulfilling their commitments.

24 option.com focuses on bringing the most profitable financial products to their traders. Recently it brought Bitcoin trading features for their customers. Let me reveal their full review including the pros and cons features from my experience of 2.5 months trading with this broker.

Regulation

24option is regulated by the Cyprus Securities and Exchange Commission with CIF license number 207/13. Rodeler Limited is located at 39 Kolonakiou street, Frema Plaza, Agios Athanasios, 4103 Limassol, Cyprus.

Cysec regulation was not very strict at the beginning. But now it has become one of the best. It is under European control. That means a lot. Europe sets most of the rules.

24option trading platform, minimum trade, trading assets and expiry times

Unlike most forex/cfd brokers, at 24Option, traders are accorded an opportunity to choose between two powerful trading platforms. I was given an option to use their own proprietary trading platform known as Scipio whose innovativeness is unparalleled.

Their in-house trading platform is web-based and hence I was not required to download/install third party software. The online platform is very easy to use, all buttons are working and the user interface is visually attractive.

Metatrader

In addition to the web-based trading platform, traders are at liberty to use the intuitive MetaTrader platform. As you well know, MetaTrader is a top of the line trading platform that comes with unlimited charting capabilities courtesy of dozens of free indicators and charts.

Mobile

To add to that, I was able to place trades even when I was away from my home desktop via their innovative mobile app. Unlike most other brokers, their mobile app is fully functional and you can even deposit or request a withdrawal.

Assets

When choosing the underlying asset at 24Option, I was always spoilt for choice. 24Option offers traders a wide array of assets to choose from. Since their shift from binary options to forex, 24Option has substantially increased the number of assets on offer.You can trade major and minor currency pairs, not to mention exotic currencies. Also, they offer numerous commodities- hard and soft, a bunch of indices and a wide range of global stocks.

To accommodate different trading styles, assets available at 24Option can be traded with two option types. There is the classic forex Buy/Sell and the unique High/Low option.

Even better, the options can be traded within diverse expiry durations with some as short as 60 seconds whereas some are as long as a few months. Additionally, they have low spreads and zero hidden fees and hence trading can be profitable in the long run.

Learn trading with 24 option

Traders can learn how to make analysis and strategies. They can learn how to understand financial news and make fundamental analysis and much more. Ther is an outstanding collection of educational tools given by 24Option broker.

The broker will provide Trading eBook, free eCourse, Trading Videos, Interactive eBook, Early Closure, and Expiry Calculations for its traders. This way they can learn trading if they want so easily without going any other platforms, forums or blogs.

Let’s continue with my 24option review.

User-friendliness

In terms of usability, 24Option’s website is definitely ahead of the pack. First things first, their website has a responsive layout which allows for seamless browsing from any browser including mobile browsers. In addition, to improve accessibility, information is condensed into a few pages with a clear hierarchy. All the links are functional which further improves accessibility.

From my observation, the homepage loads fairly fast and navigation is made easy by the fact that their buttons are placed strategically including an impeccable search feature. Also, the website has a great visual appeal with great contrast between the background and text.

24option Demo account

Like other standard binary options brokers, 24option provides its customers a free demo trading opportunity.

Its existence is not fully obvious on their website. Although they provide a demo, it is somewhat obscured.

—> But you can click here to open a demo account directly. $250, (now the minimum changed to 100 euros,pounds or dollars) which is obviously a negative . Because there are many good brokers that offer $10 to $50 as minimum deposit amount.

24option Withdrawal

The good thing is that for regular traders, first withdrawal is always free of charge. And if you use Platinum account your every withdrawal will be free of charge for lifetime. There is no minimum withdrawal amount for ePayments, so you can even withdraw $5 from your account anytime and within seconds.

You can withdraw your funds per for a one time in a month. Next withdrawals during the same month are charged at $30 per transaction, which is really high for mid-level traders.

Customer Service

The broker is providing support to its customers in 12 different languages through live chat, email or phone. Over eleven dedicated International support lines are provided to connect you through to your appropriate regional account manager. You can see the 24option contact number in the table at the beginning of this post.

Cryptocurrency trading

As expected for a broker like this, you can trade cryptocurrencies CFDs.

Is 24Option a Scam?

This broker may not be so ethical in its way of approaching customers but it is definitely not a scam. Just do not listen to the signals that they suggest and you will do fine �� . You will definitely get your winning money back. No price manipulation. No freezing platform. It is regulated by a European commission and it is secure.

Best Binary Options Brokers: 2020 Ranking
  • Binarium
    Binarium

    Best Choice! The leader in our ranking!
    Perfect for beginners!
    Free Demo Acc + Free Trading Education!

  • Binomo
    Binomo

    Good choice for experienced traders!

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