24Option Review 2018: A Broker to Trust or Scam For Trading
Traders who are familiar with 24Option as one of the top representative of Binary Options trading will find it as a full service Forex, CFD and Cryptocurrency Broker, however it is important to know 24Option Review before investing money.
You are in right track because we are back with a full-fledged broker review, so that you can invest your money in much smarter way.
We believe that, trading is not so easy for novice traders who are willing to invest their money in Forex, CFDs, Cryptocurrencies, Indices, and other commodities.
Traders need to have a user-friendly dashboard where they will be able to find all trading tools perfectly and also can learn more on trading while earning money.
This regulated broker offers Forex, CFD and Cryptocurrency trading facility after closing binary options from 2017
Here, 24 Option (Full-service Forex and CFD Broker) is ensuring their traders a secure, trusted and the easy trading environment by offering user-friendly platform.
Their Tagline is –
“Access the Financial markets all in one place”.
This trading platform is providing the latest advance technology for both novice and experienced traders.
For starting trade and getting success, a trader must have the knowledge of trade-related issues.
Trading without knowledge has a drawback and by keeping this in mind 24 Option Broker is offering a sector where traders can gain proper knowledge.
It offers their traders customer service facilities including live chat and email support. The support system is ready to help its customers to meet their goals.
A wide range of trading assets is underlying in 24Option Broker’s dashboard.
Then no doubt, it ensures trade at ease.
We covered this 24Option Review with few topics like the trade window, about 24option trading, demo account, signup and login process, key features of this broker, account types, trading details and strategies, minimum deposit and methods, withdrawal methods, and other well-formed information so that you can take your decision either you will move forward with 24 Option or stay back.
24Option Review
High Capital Risk Is Involved In Financial Trading
Before entering the section of other features let’s have a look at which company has come up with this awesome trading platform in late 2009.
At first, they were famous for Binary Options trading but at this time they cut off Binary Options from their trading option.
They are working as full-service Forex and CFD Broker.
24option is operated by Rodeler Limited, a Cyprus Investment Firm, authorized and regulated by the Cyprus Securities and Exchange Commission (For European Economic Area and Switzerland) and Richfield Capital Limited, a Belize Investment Firm, authorized and regulated by the International Financial Service Commission of Belize (For International).
Richfield Capital Limited is located at Belize with their own license number IFSC/60/440/TS/17 and Rodeler Limited is located at Cyprus with CIF license number 207/13.
Check the regulation of CySec from HERE.
Earlier, it was owned by CBAY. In late 2013, both the mentioned company merged and started operation as Rodeler Ltd.
This trading platform under Rodeler Limited is performing their service within the European Economic Area and Switzerland except for Belgium where Richfield Capital Limited is providing their service internationally.
But 24 Option is not running their service in the USA, British Columbia, Canada and some other regions.
Moreover, we found news through Finance Magnates that this broker has been banned from operation in France.
At the very beginning, you will find a home page where a chart is showing a list of week’s popular assets.
A trader can also set their language from the list.
24 Option supports multiple country languages.
From this page, you will able to download MetaTrader4 as the trading platform which is one of the most popular sites for charting and analysis.
You can see videos to educate you and also can download free E-Books.
Why 24Option?
It is mandatory to check the regulation before choosing a broker.
To find out a perfect broker is not easy task as all products are not suitable for all traders.
It is a nightmare if you don’t have enough knowledge about their key features and benefits.
The question is –
“WHY CHOOSE 24OPTION AS A TRADING BROKER?”
After completing our research, we have gathered some reasons, such as-
- Trusted and regulated Broker
- Minimum deposit $250 for Credit card and Electronic payment. Wire Transfer minimum deposit $1000
- Maximum Forex leverage [1:400]
- Bitcoin Leverage up to [1:10]
- Spread start from 1.5 pips
- Minimum trade volume starts from 0.01 lot
- Maximum trade volume – 100 lots
- Margin require $250
- 25% Bonus of the First Deposit Amount or $500, whichever is the lowest.
- Free Demo account facilities
- Trouble-free withdrawal [Minimum Withdrawal $10]
- A trader can choose account types
- Proprietary Web platform and Meta trader 4 Platform
- Well informed customer care service
- Wide range of assets
- Mobile trading facilities for Android and iOS
- Attractive bonus, offers and promotion
- Free alert service
- Available free market analysis
- Trading education facilities
You can say these are the key features of 24 Option trading platform.
Some other features are also available in this platform to make your trading experience more energetic.
Step by step we are going to explain every features and facilities.
24option login and signup process
Before login or sign in, you need sign up or register with 24Option trading broker for real account or demo account.
Here, I am giving step by step instruction for signing up with 24 Option trading Broker.
Registering for an account is for free.
To begin the registration process you need to click the “VISIT OFFICIAL WEBSITE” button below.
After clicking The 24Option official website window will open in new tab.
High Capital Risk Is Involved In Financial Trading
Step-2:
After clicking on the button, the above page will come where you have to register or sign up through a valid email address, Full name, and mobile number.
Before clicking the start trading button, you can select your preferable account mode. You can either start with your Demo Account or Real Account and you need to agree with their terms and condition.
Step-3:
Completing the account registration will take you just 1 minute. Before you can log in to your trading account, you need to activate it first.
A link will be sent to your email inbox with a password; click on that link to be able to activate your account.
Now you have an active 24 Option account!
After verifying your email and activating trading account, you will be directed to your trading room where you’ll see a web trading platform or dashboard.
Here, you will see all assets and features.
You can either start with your Demo Account or you can switch to Real Account and directly start live trading by depositing money.
From next time, you can log in directly from their website by using your email and password you used during registration and you will be able to trade from the trading room.
24Option Demo Account
Opening a demo account in 24Option is so easy.
You need to sign up for opening an account by giving your Name, Email, and Contact Number.
Before clicking “START TRADING” traders need to agree with their terms and condition. You will get a confirmation email with your Demo account unique ID and Password.
Initial deposit is $250 to open an account. As you are opening demo you don’t need to put this amount in your account.
Now you are ready to trade with your demo account. After opening a demo account in 24 Option, a trader will get virtual money as their deposited money.
You are totally risk-free if you use a practice account to trade.
To open a real account you need to give some important documents to verify your account. The call centre repetitive will call you and will ask for the account types.
They will connect you with an account manager. You have to minimum deposit $250 to open a real account.
High Capital Risk Is Involved In Financial Trading
24Option Signals: Trading Central Forex Signals
Signals are mostly used in any trading as a guideline. You can not depends fully on any signal providers.
You have to combine your strategy with the signal to get the best trading result. 24Option is providing trading signals on CFD as well as for other assets.
You need to open your CFD account to get forex signals along with signal for other assets. The platform itself known as Trading Centrals. As a trader, you will get the analysis based on the market update.
Getting signals in 8 different languages is amazing for traders.
Besides this, if you want auto trading service in 24Option then 24Option is not providing this service itself but you can use Option Robot Trading Software which is integrated with many brokers including 24Option Broker.
Although they are not considering the daily market updates as investment advice.
24Option Trading Type
24Option is allowing their trader to trade Forex, CFD, Cryptocurrency and other assets.
We are going to share with you some knowledge about how these currencies and commodities are traded and also strategies.
The full form of CFD trading is Contract for Difference.
This is a popular form of derivative trading product in which you can trade on the rising or falling price of fast-moving global financial market.
The fast moving products are shares, indices, commodities, currencies and treasuries.
As you are here in this platform to trade CFD so there are few basic strategies that you can follow.
This is absolutely true that trading market can be complicated sometimes.
By following these below you can at least go for a good trade –
- Focus on a small number of markets. You can research each of the market depth each day.
- As you are a trader so you need to decide which time frame is best for you. If you are a long time trader than the weekly and monthly time frame is best for you for a short time trader daily time frame is best.
- It is best to have a trading plan. Before placing any trade you should have proper market research. How much risk you can take for one trade.
- Enter into the trading platform
- From the upper toolbar, you can select CFD.
- You can choose the CFDs which you want to trade and in the filter option, you can see all Indices, Forex, Stock, and Commodities assets.
- By clicking buy and sell button you can start the trade. You can also choose when you wish to place the trade.
- At the very right side, the graph will show the asset movement. When it is green it means “in the money” and when it is red it means “out of the money”.
High Capital Risk Is Involved In Financial Trading
24Option Forex Trading
The full form of Forex trading is Foreign Exchange.
Exchanging one currency to another currency is known as Forex. Anyone can participate in Forex trading with a small amount of investment.
There is a trade-off, so an investor can control his $10,000 worth of currencies with a little investment of $25.
24Option Cryptocurrency Trading:
A Cryptocurrency is a digital or virtual currency that uses cryptography for security. 24Option Trading Broker is one of the first brokers who offer trading CFDs on Cryptocurrencies.
The most popular five digital currencies are now available in 24Option and they are Bitcoin, Ethereum, Ripple, Dash and Litecoin.
24Option Trading Platform – Proprietary
They improved themselves with their advanced trading platform which was made and controlled by their in house team.
New features are faster and flexible than previous. The most beautiful thing about this platform is, it has a black background with colourful letters.
In the left side, there is a filter option from where you can find all assets in one list.
The extensive underlying assets make this platform extraordinary. Current underlying assets include around 40 Cryptocurrencies, 15 Commodities, 21 Indices, more than 49Forex pairs and more than 170 stocks.
The right side of the trade window traders will find a graph where they will get the asset name which he wants to trade.
You can set your lot volume which will show the change of pip value. From that graph which mentioned a few minutes ago, you will also find the spread.
Spread will vary currency pairs to currency pairs. The minimum spread starts from 1.5 pips. Lot value is also available in the trade window.
The minimum and maximum volume start from 0.01-100. This number is constant for all currency pairs. For Forex the leverage shows 1:400 and for Bitcoin 1:10.
Require margin is $250 for both long position and short position. Max trade size for Forex starts from 10 lots to 30 lots. For Stock maximum trade size are 10 lots and for Indices 3 Lots.
Swap is applicable only for CFDs trading which is not fixed. Swap fee is fixed for Commodities and Indices.
In 24 Option swap will also depend on the trading volume. Traders will set the trade value and after reaching that value, the trade will automatically open.
You can also set the stop loss and take profit to minimize your trading risk. You will get daily market analysis from the trading platform.
24Option MT4 – MetaTrader 4 Trading Platform
For their traders’ satisfaction, 24Option also offers MetaTrader 4 as their trading platform.
This platform offers three different chart types, over fifty technical indicators.
If you want you can even customize your trading platform.
Some basic features that available in MT4 are :
- Trade Forex and CFDs
- Analyze Market Prices
- Automated Trading Tools
- Monitor Trend Lines
High Capital Risk Is Involved In Financial Trading
24Option App – Mobile Trading Platform
Those who are looking for the advantage of mobile trading, 24option is a good news for them.
It is because this broker offers a handy trading from mobile phone.
Interested has to download the apps (which is free and compatible with any device), install it and then begins the happy trading.
This application will support IOS and Android Phones.
You can simply download this application from Google play store or Apple’s App Store.
You can also download MT4 trading platform in your mobile phone to trade anywhere in anytime.
Because of this handy scope anyone can trade at any time and from anywhere.
24Option Account Types
Traders ask a question while they trade at the first time that –
What account is right for me?
Traders have to choose their account on basis of the trading plan and also trading strategies.
Why do you actually need to choose the trading plan?
You need to choose the trading plan because in each plan there are some trading tools alone with trading information and trading resources.
24 Option believes that,
The more access to information, resources and tools you control, the more power you have to make the right moves at the right times.
There are four types of account offered by 24 option.
They are –
- Basic Account
- Silver Account
- Gold Account
- Platinum Account
All these types of account holders enjoy especial features.
Some features are common for each account holder and some are not.
Here we are showing you all features in one table:
| BASIC | SILVER | GOLD | PLATINUM |
| Minimum Deposit $250 | Minimum Deposit $5,000 | Minimum Deposit $10,000 | Minimum Deposit $50,000 |
| Platform Introduction | Platform Introduction | Platform Introduction | Platform Introduction |
| Dedicated Account Manager | Dedicated Account Manager | Senior Account Manager | Senior Account Manager |
| No Webinars and Seminars | Webinars and Seminars | Webinars and Seminars | Webinars and Seminars |
| Financial Market Introduction | Financial Market Introduction | Financial Market Introduction | Financial Market Introduction |
| Demo Account 100k | Demo Account 100k | Demo Account 100k+ | Demo Account 100k+ |
| Daily Market Brief | Daily Market Brief | Daily Market Brief | Daily Market Brief |
| ~ | Risk management explanation | Risk management explanation | Risk management explanation |
| ~ | Sentimental, fundamental, technical analysis one on one tutorial | Sentimental, fundamental, technical analysis one on one tutorial | Sentimental, fundamental, technical analysis one on one tutorial |
| ~ | Short, medium, long term explanation of common trading strategies | Short, medium, long term explanation of common trading strategies | Short, medium, long term explanation of common trading strategies |
| ~ | No maintenance fees | No maintenance fees | No maintenance fees |
| ~ | Max lot | Max lot | Max lot |
| ~ | ~ | One on one MT4 course | One on one MT4 course |
| ~ | ~ | Trading Central | Trading Central |
| ~ | ~ | Free withdrawal | Free withdrawal |
| ~ | ~ | ~ | Spreads |
If you are still confused about choosing the trading plan then you can contact their support or account manager and share your goals.
High Capital Risk Is Involved In Financial Trading
24option Trading Education
As we mentioned before there is no value if you have not any proper knowledge on trading.
So it is necessary to learn every day if you want to take this trading profession seriously.
The way every topic has been discussed and represented is easy to understand.
For newbie, this guide can be a great help to understand the difficult terms and issues.
24option education center is another great tool for new traders.
24 Option has a resourceful education where you will find Forex and Crytocurrencies education.
For Forex they divided the education sector in 3 parts –
- Forex Intro
- Forex Beginners
- Forex Intermediate
And for Crypto there is a section known as Interactive Crypto.
From Interactive Crypto you can learn ins and outs of Crypto Currency.
If you want you can even download the eBook.
There is also Videos for FOREX, CFDs and Crypto Currency.
You will get Daily Market Report from education sector. Market news is important to know the market trend.
From Advance market analysis, traders will get real time and historical market information.
You can even get Technical Analysis Reports, Indicators, and also Japanese Candle stick Signals.
Technical Analysis and Fundamental Analysis are also available in 24 Option Education sector.
High Capital Risk Is Involved In Financial Trading
24Option Minimum Deposit and Withdrawal Process
Here the best part of that, 24Option is fast in any kind of transaction.
This platform offers a minimum deposit amount of $250 but the deposit amount varies depends on the transaction types.
- Credit card and Electronic Payment minimum deposit amount is $250
- Wire Transfer minimum deposit amount is $1000
For depositing money 24 Option is accepted some currencies such as US Dollar, British Pound, Japanese Yen, Euro and Rubble.
You can even trade multiple currencies from one account.
They do not accept any cash deposit from their clients.
There are many ways to deposit your money in 24Option and you can choose one which you think is better for you.
Deposit options are a Credit card, Master card, Visa card, Skrill, and Wire transfer.
For wire transfer, traders need to contact their account manager through email or live chat to make the transaction appropriate and secure.
24Option make their withdrawal process easy as they make secure for depositing money.
Traders need to submit a few documents when they withdraw their first transaction’s money.
- An official ID with a picture- Passport/ Driver’s License/Official Government ID document (Not expired)
- Proof of Address- Bank or Credit Card statement/ Utility Bill such as water, electricity, phone from the last 6 months.
- Credit card front and back showing only the last 4 digits.
Credit card document only needed when you will use this for depositing your money to 24Option.
If you use more than 1 or 2 credit card for depositing amount then you have to give these above mentioning documents for each.
A trader can withdraw his money filling all the required forms and submitting it properly.
It will take 3 to 7 working days to complete the process.
|
Account Types |
USD/EUR/GBP/CHF | CNY | JPY | RUB | TRY |
| Basic | 35 | 250 | 4000 | 2500 | 100 |
| Silver | 35 | 250 | 4000 | 2500 | 100 |
| Gold | 35 | 250 | 4000 | 2500 | 100 |
| Platinum | Free | Free | Free | Free |
Free |
24Option Customer Support: Live chat, Email, Phone
The mission of 24option is to create an “easy to use” Forex and CFD trading platform.
In doing so, they offer every possible help which they believe will ensure investors’ profit and success.
They provide 24 hours customer service over phone and by e-mail.
Interesting is that, they provide it in multiple languages.
Anyone from different region or from different country having different language can contact with them over phone and ask help.
They will help instantly!
Besides, 24option provides “live chat” for its investors.
It is an effective tool for every level (New or Old) of investors.
If a trader asks help or suggestion they get it immediately.
Drawback
Every broker has its own drawback because it is quite impossible to be 100% perfect and drawback free.
24option is no exception and it acknowledges it.
One of the major drawbacks is US traders cannot trade through 24option because of regulation’s problem.
Beside this, the minimum deposit of wire transfer is too high and it is $1000 where by credit card it is only $250.
Final Words
If you are still confused or wondering either you can earn money from the 24Option trading broker or not then my answer is YES.
This platform is not a scam.
They are regulated and secure for trading assets and currencies.
They are also an official partner of Juventus Football Club.
24Option is a highly profitable site for traders.
This platform is offering the facility to trade with a wide range of assets.
As we mentioned before, this platform is also providing education for novice traders.
From our experience, we can say that this is a broker worth joining.
After overall analysis and completing this 24option review, we can call it a friend because it guides a trader and helps in every step of trading for forex, CFD, Cryptocurrencies etc.
