"I really would like to try trading with 24Option"

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Broker Information

  • Company Name: 24Option
  • Founded: 2010
  • Country: Cyprus

Platform Info

  • Platform: MetaTrader 4
  • Web Based: Yes
  • Mobile Trading: Yes
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Broker Services

  • Regulators: CySEC
  • Minimum Deposit: $250
  • Leverage: 1:400
  • US Clients: No
  • Funding Methods: Wire Transfer, Credit card, WebMoney, Skrill , Neteller
  • Pairs Offered: 43

24Option Review

Based in Limassol, Cyprus, the award-winning 24Option online broker has provided business services since 2010. 24Option is a full service Forex broker that recently expanded its services in December 2016 to include currency trading, CFD, products, stocks and indexes.

24Option is owned by Rodeler Limited, which is regulated in Cyprus by the Cyprus Securities and Exchange Commission or CySEC under the CIF license number 207/13.

The company offers its services across borders to EU member states, which allow the provision of their services in their jurisdictions. Due to the regulatory obligations of the company, customer funds are safeguarded by being deposited in segregated bank accounts.

The company is located at Kolonakiou Street # 39, Ayios Anthanasios Limassol, CY-4103 in Cyprus.

24Option is not currently active in the United States, so 24Option does not accept clients based there

24 option

Unique trading features with 24Option

24Option offers traders a wide range of carefully selected underlying assets to accommodate traders around the world. The list includes CFDs in stock indices of the world’s largest economies, including Dow Jones Industrials, NASDAQ, DAX, FTSE, MICEX and TADAWUL. CFDs are also offered in the popular technology shares of the United States such as Google, Facebook and Apple, as well as in the shares of the largest banks in Europe and Russia, such as Barclays, Deutsche Bank and Sberbank.

The company recently incorporated a currency and CFD brokerage service, which offers up to 400: 1 leverage for foreign exchange operations, although trade restrictions apply to some currency pairs. 24Option offers transactions in all major and minor currency pairs that include key currencies from countries around the world, such as EUR, USD, JPY, GBP, AUD and CHF, as well as exotic currency pairs. Merchants with 24Option have the ability to perform transactions through its proprietary platform, in addition to MetaTrader4 and on mobile devices that use the iOS and Android operating systems.

Like other online forex brokers, the company does not charge its clients the commission, relying instead on broadening the differential of the distributors of a currency pair to compensate themselves. 24Option offers fairly competitive dealer spreads that depend on the type of customer account.

Trading Software

In addition to allowing operators to use the popular MetaTrader4 platform developed by MetaQuotes, 24Option has developed its own dedicated internal trading platform, which includes many interesting features that are not found on other commercial platforms and that were previously not available on the page. previous web of the company. platform.

24option-platform

Deposits and Withdrawals

The different types of 24Option accounts are evaluated and updated for each client according to the evaluation of an account administrator. They include these types:

Basic: the 24Option Basic account requires a minimum deposit of € 250, £ 250, ¥ 25,000 or RUB 10,000. It offers 1 basic lesson, daily news, trade center with SMS alerts. The EURUSD pips are at 2.3 and the leverage is 1:30. Outside the EU, the leverage is 1: 500 for all accounts.
Gold: the minimum deposit is EUR / GBP 5,000. It offers 2 basic lessons, 1 monthly webinar, daily news, central commerce with SMS alerts. The EURUSD pips are at 1.8 and the leverage is 1:30.
Platinum: the minimum deposit for the Platinum account is EUR / GBP 10,000. In addition, it offers 3 advanced lessons, 2 monthly webinars, daily news, central commerce with SMS alerts. The EURUSD pips are at 1.4 and the leverage is 1: 400.
VIP – the minimum deposit is EUR / GBP 50,000. In addition, it offers 5 advanced lessons, 5 monthly webinars, daily news, central commerce with SMS alerts. The EURUSD pips are at 0.9 and the leverage is 1: 400.

Outside the EU, the leverage is 1: 500 for all accounts.
The minimum deposit to open a 24Option forex live account is 250 EUR, 250 GBP, 1200 ZAR, 10K RUB and 250 USD, with a minimum transaction size of EUR / GBP 0.01 lot. Deposits to finance a live 24Option account can be made by credit card: the company accepts Visa, MasterCard and Discover, through the electronic payment of Skrill and through bank transfers. The company also accepts UCash, Neteller, Qiwi, Sofort, WebMoeny and PaySafe, to name but a few, but they do not accept PayPal payments.

The minimum deposit for a credit card is 250 EUR, 250 GBP, 1200 ZAR, 10K RUB, 250 USD. Deposits can be made in the following currencies: EUR, GBP, USD, RUB, ZAR. For an electronic payment, the minimum deposit amounts are: € 250, £ 250, ¥ 50,000 and RUB 10,000, while for a bank transfer, they are £ 1,000, € 1,000 and ¥ 100,000.

24Option also has some maximum deposit amounts, which is a daily limit of 10,000 euros or sterling and ¥ 100,000 for credit cards, and a monthly limit of 40,000 euros or sterling and ¥ 4,000,000.

For withdrawals, the customer must first verify their account with a copy of an ID issued by the government, such as a passport or driver’s license, proof of residence in the form of a utility bill and a copy of both sides of their card. of credit if that’s where the withdrawal is being made for. This verification process must be repeated each time a new payment method is used.

Withdrawal requests are processed during normal business hours in Cyprus from Monday to Thursday from 9:00 a.m. at 4:00 p.m. and from 9:00 a.m. at 1:30 p.m. on Friday. Basic account has 1 free withdrawal rate. Gold has 1 free monthly withdrawal. Platinum has 3 free monthly withdrawals. VIP has no fees at all.

Customer Support

The 24Option customer service department offers 24/5 live chat and email support, with telephone support in 12 countries. Its proprietary trading platform is also translated into 13 languages. The live chat assistant seemed quite slow to respond when it was tested several times.

In addition to its customer service department, the company offers a wide range of educational materials, such as news and daily market updates, live webinars and interactive e-books. Its Central Trading function allows customers to access third-party market analysis and historical data. 24Option also offers videos on demand, with topics available that include courses for intermediate and advanced operations in CFDs and forex.

Safety

In addition to its CySEC supervision, which guarantees that the broker is regulated in the European Union, 24Option is also a member of the Investment Compensation Fund, which grants each trader a protection of up to € 20,000 if the broker can not fulfill its obligations.

The broker had a recent problem with CySEC that reportedly resulted in a fine and citation in January 2016, although it seems that they have now addressed most of those problems.

Conclusion

24Option is a well-established and regulated currency, CFD and commodities broker, with a wide range of tradable underlying assets and a unique and secure trading platform. The company offers telephone support in 12 countries, and its commercial platform has been translated into 13 languages.

In addition to offering merchants, the customer service staff is courteous and professional, although they seem slow enough to respond to your live chat service.

The business platform of the company has an intuitive interface. In addition, the broker offers novice traders an extensive educational program. However, the company does not extend its services to merchants in the United States. To try 24option for free, you can access the demo account without deposit and for free.

Please note that certain products and / or multiplier levels may not be available to traders in EEA countries due to legal restrictions.

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