OptionFair Vs 24Option

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a Complete Guide for Binary Options Trading

Over the past 8 years, we have seen numerous binary options brokers setting up and then closing down their operations. However, this has not stopped new brokers from joining the industry every other day. Competition among the brokers may be good for traders in terms of choice but because of the large number of new brokers joining the scene each month, many new traders are having a difficult time finding a broker that they can depend on. The safest bet instead then would be to go for a well established binary options broker with a good track record. In this review, we will look at two such brokers namely 24Option and OptionFair and see which one of these two brokers fares better for its traders.

Brokers’ Corporate Background

To start our review off, we will begin by looking at the history of these two leading binary options brokers. The 24Option brand was founded in 2020 and is owned by a Cyprus Investment Firm (CIF) called Rodeler Limited. Their headquarter is located at #39 Kolonakiou St., Ayios Anthanasios, Cy-4103 Limassol, Cyprus. This puts the trading platform under the jurisdiction of the Cyprus Securities Exchange Commission (CySEC). They operate with the CIF license number 207/13.

Incidentally, OptionFair was also established in 2020, the same year as 24Option. The OptionFair brand is however owned and managed by a company called B.O. Tradefinancials. The corporate headquarter is also located in Cyprus but in a different city at Ioanni Styliamou 6 2nd Floor, Office 202 2003 Nicosia. However, OptionFair has set up the operation center at 1st Floor, Kyriakos Tower, Kosta Hadjikakou 1 4107 Agios Athanasios, Limassol, Cyprus. As a CIF, OptionFair is also regulated by CySEC under the license number # 216/13. What is interesting about OptionFair is the fact its holding company B.O. Traderfinancials is a subsidiary of TechFinancials Inc, an London Stock Exchange listed company and the binary options trading platform provider for both 24Option and OptionFair.

Trading Platforms

As mentioned earlier, both 24Option and OptionFair use the TechFinancials powered trading platform. This means that both brokers have the same pros and cons regarding their trading platforms.

In a side-by-side comparison, it is not surprising to see that both brokers’ trading platforms look similar with regards to the user interface except for the color scheme. With OptionFair’s user interface, the colors are cooler as opposed to 24Option choice of warmer colors. Perhaps it is a trick of the eye but at a glance, OptionFair’s user interface looks more pleasing and less cluttered. Somehow, 24Option’s user interface seems a little overcrowded and hence more distracting.

Another interesting thing that can be noticed about the screenshots of both trading platforms is the big difference in the payout for the same asset, the EUR/USD. Although both these screenshots were taken within minutes of each other, we can see that OptionFair offers a higher payout at 81% as compared to 24Option’s 70%. Anyway, we will look more closely at the payout ratios offered by both brokers later on in this review.

Mobile Trading

As for support for mobile trading, both brokers have also provided mobile trading apps for iOS and Android powered mobile devices. The respective trading apps for both these brokers can be downloaded at Google Play Store and Apple App Store.

Trade Types

Since both OptionFair and 24Option are using the same trading platform provided by TechFinancials, it is only natural to expect the options contracts types offered by both brokers to be the same. Both these brokers have 4 main types of options contracts namely Classic High/Low options, Short Term options, One Touch options and Boundary options. Both brokers also offer their traders the ability to trade spot Forex and CFDs on their trading platforms.While the options contracts types are the same, the choice of expiry times differs greatly between the two brokers. As we can see from the screenshot below, OptionFair definitely has more expiry times to choose from as compared to 24Option.

From our trading example on the EUR/USD, 24Option has a total of 11 different expiry times while OptionFair has 17 different expires times with the longest expiry time being a year. 24Option’s longest expiry time offered on the EUR/USD was just slightly under a month.

Account Types

In terms of trading accounts, 24Option is the clear winner here. They have provided their traders with a choice of 6 different types of trading accounts. The trading accounts come in the form of a “Basic account”, “Silver account”, “Gold account”, “Platinum account” and “Diamond account”. These different types of trading accounts all come with different incentives for the account holder. The basic account only provides you with access to the trading platform and basic trading education. At the top end of the scale which is the diamond account, you get better returns on your investments, live training sessions, a customized trading platform personal coach, the ability to trade FX/CFDs and tickets to Juventus’ football matches.

In comparison, OptionFair has only provided one standard type of trading account for their traders. They do not make any differentiation between their traders and all of them have access to the same benefits such as trade alerts through SMS and emails and the same level of trading education. Hence, although OptionFair does not provide as many types of trading accounts as 24Option, their traders, especially those are just beginning to trade benefits from the equal access to all the trade benefits and education.

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In terms of the demo account facility, both 24Option and OptionFair have this trading facility for their traders. The requirement to access the demo facility is the same for both brokers. You are required to register and then place a minimum initial deposit before access to the demo is granted.

Minimum Deposit

In the online trading industry, the minimum deposit is a standard industry practice that is imposed by brokers on traders before they can begin live trading. It is the minimum amount which a person must deposit with the broker before his trading account can go ‘live’. 24Option stated on its website that their minimum initial deposit requirement is $250. However, it should be noted that this requirement applies to the basic trading account and not any of the higher account levels offered by 24Option. In other words, with a $250 deposit, you only have access to basic trading facilities at 24Option.

In contrast, OptionFair requires a slightly higher minimum initial deposit of $350 in order for traders to go ‘live’. Although this amount is slightly higher than 24Option’s minimum initial deposit requirement, it should be borne in mind that OptionFair doesn’t discriminate between their traders regardless of how much they deposit into their trading account. And as a result, OptionFair’s traders all have unrestricted access to all the tools and facilities provided by the broker. In this respect, OptionFair is a better broker for a beginner trader since he is less likely to commit more funds towards his binary options trading activities until he has learned more about how to trade binary options properly.

Payout Ratio

One of the most notable differences between 24Option and OptionFair is the payout ratio offered by them. For 24Option, the maximum payout ratio is staggered according to the type of trading account the trader is trading from. At 24Option for the basic account, the maximum payout ratio is just 82% and goes up to 88% for the diamond account. With OptionFair, the maximum payout ratio is 91% which is probably the highest among all the brokers in the industry. Nevertheless, it is the average returns that matters. As we have seen from the screenshots of both trading platforms above, OptionFair offer their traders better value for their investments. In our example above, there is a difference of 11% for the same asset (EUR/USD) with the same expiry time. That is a big difference if we were to take in consideration that trading is not a one off affair. Imagine a $100 difference in returns each time you make a trade. Over a period of 10 trades, that $100 will accumulate to a total of $1000!

Assets Index

In terms of trading assets, OptionFair currently have slightly more than a dozen assets over 24Option’s coverage of the markets. In total, OptionFair’s asset index totaled at 147 different types of assets while 24Option’s asset index totaled at 131 assets. Below are the respective asset indexes of the 2 brokers:

OptionFair Asset Index

Forex Commodities Stocks Indices
AUD/CAD
AUD/CHF
AUD/JPY
AUD/NZD
AUD/USD
Bitcoin/USD
CAD/CHF
CAD/JPY
CHF/JPY
EUR/AUD
EUR/CAD
EUR/CHF
EUR/GBP
EUR/JPY
EUR/NOK
EUR/TRY
EUR/USD
EUR/ZAR
GBP/AUD
GBP/CAD
GBP/CHF
GBP/JPY
GBP/USD
GBP/ZAR
NZD/CHF
NZD/USD
US Dollar Index
USD/BRL
USD/CAD
USD/CHF
USD/HUF
USD/JPY
USD/MXN
USD/NOK
USD/RUB
USD/TRY
USD/ZAR
Brent Oil
Gold (XAUUSD)
Gold/ JPY (XAUJPY)
Gold/EUR (XAUEUR)
Gold/Silver (XAUXAG)
Platinum (PL)
Silver (XAGUSD)
Adidas (ADSGn)
Alibaba (BABA)
Amazon (AMZN)
Amex (AXP)
Anz (ANZ)
Apple (AAPL)
AXA (AXAF)
Azimut Holding (0MHJ)
Baidu (BIDU)
Barclays (BARCC)
BBVA (BBVA)
BHP Billiton (BHP)
BNP Paribas (BNPP)
Boeing (BA)
BP (BP)
Cisco (CSCO)
Citigroup (C.SW)
Coca Cola (KO)
Disney (DIS)
EBay (EBAY)
Enel (0NRE)
EXXON (XOM)
Facebook (FB)
Ferrari (RACE)
FIAT (FCHA)
Gazprom (GAZP)
Gold Corp (GG)
Goldman Sachs (GS)
Google (GOOG)
GoPro (GPRO)
Herbalife (HLF)
Honda Motors (HMC)
HSBC (HSBAL)
IBM
ICICI Bank (ICBK)
Intel (INTC)
JPMorgan Chase (JPM)
MasterCard (MA)
McDonalds (MCD)
Microsoft (MSFT)
MOL PLC (MOLB)
Netflix (NFLX)
NIKE (NKE)
NK Lukoil OAO (LKOH)
Norilsk Nickel PAO (GMKN)
Orange France (ORAN)
OTP Bank (OTPB)
PAO Severstal (CHMF)
PayPal (PYPL)
Pepsi (PEP)
Pfizer (PFE)
Priceline (PCLN)
Renault (RNOp)
Richter (GDRB)
Rio Tinto
Royal Dutch Shell plc (RDSA.L)
Samsung (005930.KS)
Samsung Electronics (SMSN:LI)
Sberbank (SBER)
Siemens (SIEGn)
Silver Wheaton (SLW)
Societe General (SOGN)
Sony (6758:JP)
Sumitomo (8316: JP)
Tata Motors LTD (TAMO)
Telecom Italia (0H6I)
Telefonica (TDET)
Tesco (TSCO)
Tesla (TSLA)
Toyota (TM)
Twitter (TWTR)
Visa (V)
Vodafone (VOD)
Volkswagen (VOWG)
Westpac Banking (WBC)
Yahoo (YHOO)
ASX 200-Future (AUS200)
Bombay- 30
BOVESPA (BVSP)
BUX
CAC 40-Future (F40)
DAX 30- Future
DOW Jones (DJI)
DUBAI (DFMGI)
FTSE 100- Future
Hang Seng Future (HK50)
IBEX 35 (IBEX)
IBEX- Future
Kuwait Index (KWSE)
MIB 40- Future (FTSE MIB)
MICEX (MCX
Nasdaq 100 (NDX)
Nifty- Future
Nikkei 225-Future (JP225)
Oman Index: (MSM 30)
Qatar Index (QE)
RTS Index (RTSI)
S&P 500 (SPX)
SMI- Future (SWI20)
South Africa 40 – Future: (JSE)
TA-25 (TA25)
TADAWUL (TASI)
TOPIX500 (TPX500)

24Option Asset Index

Forex Commodities Stocks Indices
AUD/CAD
AUD/CHF
AUD/JPY
AUD/NZD
AUD/USD
CAD/CHF
CAD/JPY
CHF/JPY
EUR/AUD
EUR/CAD
EUR/CHF
EUR/GBP
EUR/JPY
EUR/NOK
EUR/TRY
EUR/USD
EUR/ZAR
GBP/AUD
GBP/CAD
GBP/CHF
GBP/JPY
GBP/USD
NZD/CHF
NZD/JPY
NZD/USD
USD/ SEK
USD/CAD
USD/CHF
USD/JPY
USD/MXN
USD/NOK
USD/RUB
USD/TRY
USD/ZAR
Coffee Futures
Copper Futures
Corn Futures
Crude Oil Futures
Gold (XAU/USD)
Platinum Futures
Silver (XAG/USD)
Sugar Futures
XAU/EUR
XAU/JPY
XAU/XAG
Alibaba
Amazon
Amex (American Express)
ANZ
Apple
Apple Inc.
AXA SA
Baidu
Barclays PLC
BBVA
Beiersdorf
BHP Billiton
BMW
BNP Paribas
British Petroleum PLC
Citi Group
Coca Cola
Deutsche Bank
Deutsche Lufthansa
E.ON
EBay
Enel
Exxon
Facebook
Ferrari
Fiat
France-Telecom
Gazprom Pao
Google Inc.
GoPro
HSBC
IBM
ICICI Bank Ltd
JPMorgan Chase & Co
LinkedIn
McDonald’s
Microsoft
Netflix
Nike
Nokia
Orange France
PetroChina
Rio Tinto
Rosneft
Royal Dutch Shell A
Samsung Electronics
SberBank
Schlumberger
Societe Generale
Sony
Sumitomo
Tata Motors Ltd
Tesco
Tesla
ThyssenKrupp
Twitter Inc
Unicredit
Vodafone
Walt Disney
Westpac Banking Corporation
Yahoo!
AEX Index
ASX 200 Futures
Bombay 30
CAC 40 Futures
DAX 30 Futures
Dow Jones 30 Futures
Dubai Index
FTSE 100 Futures
Hang Seng Future
IBEX 35 Futures
KOSPI 200
Kuwait Index
MIB 40 Futures
MICEX
MSM 30 Index
Nasdaq 100 Futures
NIFTY Futures
Nikkei 225 Futures
Qatar Index
RTS Index
S&P 500 Futures
SMI Futures
South Africa 40 Futures
TA-25 Index
Tadawul Index

Bonuses

In terms of bonuses, 24Option’s bonuses are dependent upon what has been deposited by the trader. For a deposit between $250 and $499, a bonus of 20% is awarded. For a deposit of $500 to $999, a bonus of 30% is awarded. The percentages increase until a maximum bonus of 100% is awarded for deposits above $5000. The bonus for OptionFair is structured along similar lines as that of 24Option in that it depends on the amount that has been deposited. However, OptionFair maximum bonus is capped at 50% or $5000.

The wagering requirement for OptionFair’s bonus withdrawal qualification is set at 40x the bonus value for binary options trades and at 50x the bonus value if the bonus is utilized for forex trades. For 24Option, the wagering requirement is fixed at 50x the bonus value regardless of whether the bonus is utilized for binary options trading or forex trades. Considering all the criteria to qualify for the bonuses as well as the wagering requirement, OptionFair’s bonus terms and conditions seem more flexible when compared to 24Option’s requirements.

Customer Support

For customer support, both 24Option and OptionFair are dedicated to providing the best possible support that they can offer to their traders. The methods of contacting the support teams are the same which is by email, live chat or the telephone. However, in terms of support provided at a domestic or local level, 24Option is able to provide better coverage by covering 17 different cities and countries. OptionFair’s coverage has so far only managed to extend to only 11 countries. Of course, if you are an international broker, the more countries that you are able to support on a local level, then the better is the quality of your customer support service. So clearly in the area of customer support, 24Option have a distinct advantage over OptionFair.

Verdict

Overall, both 24Option and OptionFair have been able to offer top value to their clients. However, the subtle differences between them do draw a distinction in what they can offer their traders. The most noticeable differences are the payouts and account types offered. For those who want to invest with the bare minimum, then 24Option can meet their needs with their lower minimum initial deposit requirement. However for traders who are more concerned about the returns, then OptionFair would be a better choice.

OptionFair vs 24option

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OptionFair vs 24option: The better choice

Since we have analyzed both brokers, we managed to understand the pros and cons of each one and thus we are able to make an informed recommendation. While both brokers are very reliable and have excellent trading features, depending on what you are planning to do and how you want to invest, one of them may be more suitable than the other.

OptionFair vs 24option: Minimum Deposits and Minimum Investment

The minimum deposit amount is the same for both brokers and that is $250. The deposit procedure is relatively simple, as clients have the possibility of choosing between a variety of banking options and work with whatever they find more convenient. The minimum investment of OptionFair is of $25, which 24option has a minimum investment of $24. Considering the small difference between the two brokers, it is fair to say that this aspect is not relevant in someone’s decision-making process.

OptionFair vs 24option: Maximum Returns and Maximum Investment

OptionFair offers maximum returns of up to 91%, whereas 24option’s maximum return is of 89%. Both of these rates are quite high compared to other brokers, making them very advantageous and gain, the difference is not that important. However, this does not apply to the maximum investment amount, as OptionFair allows its clients to invest maximum $15 000, while, with 24option, one can invest up to $200 000 at once. This is why24option might be a better choice for bigger investors, despite the fact that OptionFair has a slightly larger return rate.

OptionFair vs 24option: Maximum bonus and other features

These regulated brokers, due to CySEC’s decision, no longer provide binary options bonuses!

OptionFair offers a maximum bonus of $5000, that must be reinvested 40 times before being able to withdraw the earnings. 24option has an unlimited amount for its bonus, meaning that for larger investments it is possible to actually double the money. Before withdrawal, it must be reinvested 30 times. However, one may state that it can be much harder to reinvest a very large amount of money 30 times that it is to reinvest $5000 40 times, so there are pros and cons to both sides. Both brokers have a demo account and a mobile app, but while Optionfair can release funds in as little as 2 days, with 24option, you will have to wait over a week before you will receive your money.

Verdict:

Both brokers are highly professional and offer many trading assets and interesting features. 24option is a better choice for those who want to invest bigger amounts, given the fact that it has a larger maximum investment and smaller bonus trading terms. However, for small amounts and traders who are not necessarily interested in bonuses, OptionFair will be a very convenient choice, given its rapid payouts and variety of assets.

The OptionFair legit status has been confirmed not only by numerous traders around the world that have been using its services for over a decade now, but also by the decision to license the company and become a regulated broker. Starting with October 2020, OptionsFair owned and operated by B.O. Tradefinancials Ltd has been licensed by the Cyprus Securities and Exchange Commission: License Number 216/13. Even though a non-regulated broker is not necessarily a fraud, a regulated binary options broker is definitely not a scam, as it has to observe strict regulations, not to mention that any complaints brought by its customers will immediately cost the company its license.

It is natural, if not advisable to make a thorough research on the binary options broker you plan to use to ensure that you will not be scammed. However, make sure that you make the difference between pertinent and relevant reviews and testimonials written by inexperienced traders that vent their frustration on the broker after losing money through trading. If you ask yourself which one of the two is true, the OptionFair legit or scam rumors, you should carefully compare not only the amount of complaints against the positive reviews, but also the reliability of the users writing the comments and articles on this subject. It is important to listen to professional advice and do not let hateful comments affect your ability to make a logical decision.

OptionsFair is not only regulated since 2020 after getting a CySEC license, but it is also in this business for five years already since the inception of online binary options trading. Because traders need to use an intermediary to be able to trade with binary options, there are many people with fraudulent intentions out there that take advantage of this fact to create problems and fake binary options platforms. Scams are easy to uncover, because they usually are recently opened binary options platforms that require above average minimum deposits and promise great bonuses to attract traders only to become unavailable when users start to ask for money withdrawals and to disappear completely in a matter of weeks or months.

The fact that a broker has been in operation for years should be enough proof that OptionsFair is a legit broker. OptionsFair is a reputable and popular platform that provides numerous benefits and innovative features. It would be a shame to miss the once per month free withdrawal because of some unfounded rumors.

OptionFair Mobile Trading

There is no other way this binary options broker would have endured five years on this market without changing constantly and evolving their technology to suit trader’s needs. With the mobile revolution that started with the introduction of smartphones and the adoption of these and other mobile devices like tablets, much has changed in the trading landscape. Today more than a third of binary options traders regularly use smartphones and tablets to place trades using mobile binary options trading solutions. OptionFair mobile trading app also has this functionality and it is available to all traders.

It is important to say that OptionFair mobile trading app is not just the scaled down the experience of the desktop trading interface. Mobile devices require a different experience in order to make the most use of the touch screens. OptionFair mobile platform does just this: it presents an intuitive and easy way to place binary options trades from the mobile device. Now, traders don’t need to stay at home and trade in front of the desktop computer, they can go on with their lives and engage in trading on the morning commute or during the work break.

With more than 130 assets representing income streams from all over the planet, OptionFair Mobile applications offer much more than just placing trades. It is a mobile portfolio management solution that enables traders to react to any market moving. By trading on alerts, traders can fully utilize the mobile experience and other services offered trough OptionFair account.

OptionFair economic calendar is a feature that lets traders track upcoming events and prepare for price moves she expects from these events. OptionFair mobile trading also enables utilizing FairSignals service OptionsFair also has as a feature for those depositing $500 and more. With OptionFair webinars, traders will have no problem knowing when to strike if they recognize the right chart pattern. All these features can be used on the OptionFair mobile application that is available for iOS and android.

OptionFair PayPal

OptionFair PayPal deposits and withdrawals are not possible, but this binary options broker offers numerous other banking methods to ensure quick and easy money transfers. Although traders using this platform cannot transfer money in and out of their account through PayPal, they can use any of the following deposit methods: Visa, Maestro, Visa Electron and Mastercard, as well as Skrill and Moneybookers. Users can also use less popular deposit methods like Diners Club, Carte Bleue, Discover Card, Laser, Liberty Reserve, JCB, Dankort, Cartasi, and direct bank wire. These multiple banking options cover the needs and demands of all its users, and this is the reason why PayPal cannot be found on the list.

OptionFair was built on the underlying principles of reliability, integrity and efficiency in meeting customers’ needs and requirements and this broker considers banking one of the essential duties of a broker. This is why it has taken numerous steps towards improving the banking experience and providing multiple deposit methods for the convenience and satisfaction of its users. What is more, OptionFair holds the record when it comes to processing withdrawals and it only takes you one day to receive your money with Skrill.

OptionFair Deposits

Traders do not require a deposit to register on OptionsFair, but they do require funds to start trading. Depending on the preferred banking method, traders can deposit the initial funds in a matter of hours or days, not to mention that the minimum deposit also changes according to that choice. This is why you should carefully select your account info and choose a banking method that meets your specific needs. OptionFair PayPal refusal will not become a problem when depositing because this broker accepts a wide selection of deposit methods, that are widely used around the world. While focusing on simplicity and accessibility, this binary options broker has managed to uncover the easiest and fastest methods of deposit allowing users start trading as soon as they sign up at OptionFair.

OptionFair Withdrawals

There are numerous complaints on the Internet about brokers that make it increasingly difficult to withdraw money from their accounts.Whether we talk about scams or brokers that offer inefficient withdrawal options, OptionFair is not one of them. This binary options platform takes pride in its ability to offer fast and easy withdrawals for the convenience of its users. What is more, OptionsFair also provides a free of charge withdrawal once per month, irrespective of the amount being withdrawn. It is necessary for a trader to have a verified account to be able to withdraw money, something most people new to trading are not aware of, but with OptionsFair this aspect is covered from the start. When the first deposit is made, the broker verifies and validates the accounts, making withdrawals possible on the spot.

OptionFair Tips

Special offers are another awesome feature of being an OptionFair client. Watch out for holidays and other special days since OptionFair tends to have great promotions on these dates. Last promotion of this type was for the Valentine’s Day, it covered new customers. A complimentary one 1-on-1 session was offered to everyone who signed up. Optionfair now also offers up to 100% enhanced bonuses for new customers.

Altogether, Optionfair lets users trade binary options based on a standard size asset index. It covers 13 indices, from across the world. There isn’t a region of the world that isn’t represented. There are also six commodities and three gold pairs – Gold/EUR, Gold/Silver, and Gold/JPY. For those preferring foreign exchange trading, there are 21 currency pairs to choose from. 29 stocks will satisfy most of the customers who like to analyze company data.

Another great feature is the possibility to close open positions before the expiry time. This can be done by listing “My Open Trades” section in the trade window. Individual trades that are available for the early close can be discovered by clicking individual trades. The option will not be available right after purchase. It takes 5 minutes to activate. Shortest period to stop the trade before expiry is 5 minutes before.

Optionfair is one of the best binary options brokers, crowned with best binary options broker award from the FX Empire. They also offer the best trading signals!

a Complete Guide for Binary Options Trading

24option’s headquarters are located in Cyprus. It is a well established binary options brokerage firm that have earned itself a great admiration from many binary options traders due to its excellent and consistent services.

It was formerly managed by CBAY Financials, but as of late 2020, the management changed to Rodeler Ltd.

It is a regulated binary options broker, by the Cyprus Securities Exchange Commission (CYSEC) and its license number is 207/13.

Since its founding, 24option binary options broker has been awarded severally by the FX Empire. Some of the awards that 24option has received include: Best Binary Options Broker 2020 award, Best Binary Options Broker 2020 award and Most Innovative Broker 2020 award.

Basic information:

Online since: 2020
Jurisdiction: Cyprus
Max Returns: 89%
Bonus: 100%
Minimum Deposit: $250
Minimum Investment: $24
Maximum Investment: $50000
Currencies: USD, EUR, GBP, Yen, RUB
Mobile: Yes
Countries: All nations excl. USA & Australia

– Fast and easy withdrawals (in as little as one hour)
– Accepts many different types of payments including Paypal
– Low initial investments for trading
– Extensive trading options
– Multiple account options
– Available in multiple languages

– Access to Demo requires an account with a paid deposit

Binary Minery Rating:

24option binary options trading account types

24option offers two main trading account types; the demo trading account and the real trading account.

The demo trading account is mainly designed for binary options trading beginners as well as for experienced traders who wish to test their trading strategies before using them to trade in the real account.

However, the demo account is only accessible to those who have already opened a real account and deposited $250.

There are five different types of real trading accounts and each has its unique features that suit certain group of binary options traders. Below is a closer look at the 5 real account types.

Basic account

Traders opening this type of an account are guaranteed a payout of up to 82%. It also offers one withdrawal per month that is free from any fees.

Trading is central and the traders are offered customer support.

Silver account

In addition to all the benefits offered in the basic account, this account also entitles options traders to receiving trading alerts and a personal coach.

Gold account

Traders opening this account type benefit from all the benefits of the silver account and in addition, they are also entitled to a payout of up to 84%, receiving email and SMS alerts and an opportunity to use expert advisers in live trading.

Platinum account

In addition to all the benefits of the gold account, traders with this type of an account are also entitled to a payout of up to 86%, fully free cash withdrawals to the bank, session of financial expert, provision of a research website, an opportunity to trade forex and higher trading limits.

Diamond account

On top of all the platinum account benefits, traders who open this type of account are also entitled to a payout of up 88% and a chance to acquire a customized platform.

Rewards and bonus offered by 24option broker

24option broker offers a variety of cash prices and bonuses. These bonuses can be grouped into four categories which are:

This bonus is given upon every deposit that a trader makes.

Depending on the amount and account type, there are other special terms and conditions that may apply to this cash bonus. The trader should therefore be very careful when accepting this bonus and ensure that he or she has gone through all the terms and conditions.

  1. Technology bonus I

This is a kind of a reward, where a trader is given a free ipad, if he or she makes a minimum deposit of 10,000 dollars and has a trading volume of 50,000 dollars.

  1. Technology Bonus II

This is also a kind of a reward, where a trader is given a free MacBook, if he or she makes a minimum deposit of 20,000 dollars and has a trading volume of 100,000 dollars.

  1. $24 New Account Bonus

This bonus is only available for traders using the 24option mobile application. Also, before claiming this bonus, the account has to be verified and the trader has to make a deposit within one hour from when he or she registered the account.

24option trading software

24option provides traders with two types of trading platforms. These are the Pix2 trading platform and the 24option mobile app which is designed for mobile phone devices and it is free to download.

The Pix2 trading platform and 24option mobile app are trading softwares offered by the Tech Financials and they are different from the normal trading platforms like Tradologic which are used by other binary options traders.

Also, for the binary options traders who use their phones, there is a secondary website made for mobile phone devices so as to ensure that traders can access their trading accounts from wherever they are and make trades without having to sit infront of a computer.

Features of the Tech Financials trading software:

  1. It allows four types of trading options which are: boundary binaries, one touch binaries, classic binaries and short term binaries.
  2. It offers a variety of durations for the expiry of the binary options trades. Some of the expiry duration options included are 30 seconds, 2 minutes, 5 minutes, 15 minutes, 30 minutes, 1 hour, 24 hours and end of month.3
  3. It allows the trading of all the assets listed.
  4. It allows mobile trading.

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Types of Binary Options Trading Contracts

24option offers four different types of trades to its binary options traders. Each of the options has a different payout percentage.

These options are:

  1. Boundary binaries

This type of a binary trading contract includes a standard yield boundary option and a high yield boundary option.

The Payout Percentage of the boundary options ranges from 65 to 70%.

  1. Classic binaries

This type of binary options trading contract consists of above and below options as well as high and low options.

The payout percentage of the high and low options range from 70 to 85% while the payout percentage for the above and below options ranges from 220 to 360%.

  1. Short term binaries

This type of binary options trading contract consists of binaries with short expiry durations that range from thirty seconds to five minutes.

The payout percentage of this type of option ranges from 70 to 85%.

  1. One touch binaries

This type of binary options trading contract consists of Touch binaries, No Touch binaries as well as high yield binaries.

The payout percentage of the Touch and No Touch options range from 70 to 77% while the payout percentage of the high yield binaries range from 200 to 350%.

Withdrawal and depositing options

24option binary option traders have a variety of options for withdrawing and depositing money from and into their 24option wallets respectively. The allowed options of transacting money in 24option are: JCB,MasterCard, Skrill Moneybookers, Dankort, Visa Card, Bank Wire, Discover Card, Diners Club, Cartasi, Liberty Reserve, Visa Electron Dankort ans Laser.

The process of depositing money takes 24 hours since the deposits are manually approved. The minimum deposit amount is $250.

The withdrawal process will depend on the type of acount you open. Withdrawal is free for the gold and platinum accounts. The rest of the accounts have a processing fee which is different for different options of transacting money. For those who use the Liberty Reserve, the processing fee is 1%. For the Moneybookers the processing fee is 2%. For the Credit cards the processing fee us 3.5% and for the Bank Wire option the processing fee is $30.

For the bank wire, the minimum withdrawal amount is $1000.

Also, 24options doesn’t allow deposits and withdrawals from residents of United States and Australia.

Assets list

In 24option, binary options traders have a wide range of trading assets to choose from. The assets range from currency pairs, commodities, indices to stocks.

Below is a comprehensive list of the assets:

The currencies are mainly in pairs. Some of the most traded currencies are: Australian dollar, Japanese Yen, US dollar, European pound, Great Britain pound, Canadian dollar, New Zealand dollar and Swiss Franc among many others like the RUB.

The commodities offered by 24option include: coffee, oil, sugar, XAU/EUR, gold, copper, XAU/JPY, platinum, corn, silver and XAU/XAG.

The indices offered by 24option are: ASX 200 Future, Hang Seng Future, IBEX-35,CAC 40 Future, MIB-40 FUTURE, FTSE-100, DAX-30, Bombay 30 and Dow Jones.

Some of he most traded stocks in 24option are: BEIERSDORF, COCA-COLA, BMW, FACEBOOK, MICROSOFT, GOOGLE, IBM, SONY, FRANCE TELECOM, TWITTER and NIKE among many others.

Customer service

24options offers customer services to its traders regardless of the type of account that the trader holds.

It offers its customer services via live chats and emails.

To date, 24option broker has spread to various countries, prompting it to offers its customer services in a a variety of languages which include: English, Spanish, French, German, Italian, Danish, Swedish, Russian, Japanese, Arabic, Romanian, Korean, Finnish, Indonesian, Turkish and Portuguese. However, 24option broker doesn’t allow traders from United States and Australia.

24option also has a special academy for the beginners who want to learn how to trade.

Conclusion

In conclusion, 24opion is a proven binary options broker whose services are non-questionable.

The traders only have to be careful with their trading strategies so that they can be guaranteed of good payouts.

The other thing that 24option traders have to be cautious about, are the various bonuses offered by 24option. Before accepting any kind of a bonus, the trader has to understand all the strings that are attached to that bonus. So, the trader should read all the terms and conditions of a bonus before accepting one. Failure to do this will result to frustrations since things may not work out as the trader had planned.

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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