Binary option broker 24option was founded in 2010 and registered in Cyprus. It is headquartered in Limassol.
The broker has official representative offices in 20 countries.
The company is owned by Rodeler Limited, Cyprus. When setting up a subsidiary, the holding company put a primary focus on promoting binary options trading. It is largely 24option achievement that trading this innovative tool is available to a wide audience of traders and that the binary options market continues to develop rapidly.
Today 24option is a trendsetter in the global binary options market. The vast majority of brokers from different countries are using technologies developed by 24option.com experts.
The company was many times recognized as the best broker of the year.
Deposits and Withdrawals
Customers of 24option can make a deposit and withdraw funds from the trading account using a wide range of financial instruments. They include bank transfer, plastic cards of the main global payment systems and withdrawals through E-Wallets of major online payment systems. All bank payments are effected within 1-2 banking days. E-Wallet payments are made within one banking day.
Those customers, who withdraw money from the trading account not more often than once a month, irrespective of a trading account type pay no commission. If the funds are withdrawn more often than once a month, the trader pays a commission according to a tariff plan for its trading account. The commission is about $20 USD on average.
Reliability and Certification
The broker is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC). It also has licenses of other European regulators, among which the following ones are most authoritative:
- FCA (Financial Conduct Authority of the UK);
- BaFIN (Federal Financial Supervisory Authority of Germany).
High level of regulation is only one of the strongholds ensuring high reliability and liquidity of the broker. Other factors contributing to 24option reputation are as follows:
- Close cooperation with the world’s major liquidity providers (banks and insurance companies);
- Numerous innovative solutions aimed at ensuring safety and security of trading and financial operations. Most of the technologies were developed by the company specialists or with their active participation.
Bonuses and Promotions
Customers of 24option get a bonus for each deposit. The amount deposited should exceed $250 USD. The bonus is a percentage of the deposit amount and can reach 100%. Bonus money are intended for trading and can be withdrawn from the trading account only after meeting a number of requirements for the number and the volume of transactions made after bonus money are credited to the customer trading account.
The broker regularly holds monthly tournaments among owners of live trading accounts. Every trader that made a deposit of no less than $1000 USD can take part in the tournament. A trader with the highest profit over the period of the contest is a winner. The winner and runners-up of the tournament receive money prizes:
- $10 000 USD;
- $5 000 USD;
- $2 000 USD;
- $1 000 USD;
- $500 USD.
The prize money can be withdrawn from the trading account any time and in any of the ways mentioned above.
Trading Accounts and Options Types
24option is offering three types of trading accounts to its clients:
The minimum deposit size is $250 USD. The funds can be deposited in US dollar or British pound.
The main difference between the accounts types is in the range of trading tools and underlying assets as well as commissions and fringe benefits. More details about technical features of the accounts and their operation principles are available on the broker’s official website.
The range of trading tools and underlying assets 24option is offering to its customers is a strong evidence of its great ambitions, its status and top place in the world rankings of binary options brokers.
The broker is offering the following underlying assets:
- 32 currency pairs;
- stocks of 44 largest international companies;
- 22 indices;
- 11 commodities.
All trading tools are divided into 4 groups:
- Classic Binaries
- high/low price – classical options with payout from 65% to 83% and expiry time from 5 minutes to several hours ;
- above/below – classical options with payout from 220% to 360% and expiry time of 30 and 45 minutes.
- One Touch Binaries.
- touch/no touch – options with traditional payout and expiry time of 30 and 45 minutes;
- high yield touch – binaries with payout from 200% to 350% and expiry time of 30 minutes.
- Boundary Binaries. The trader decides whether the market price at the time of expiry will be within a set price range.
- Standard yield boundary options with traditional payout and expiry time of 30 and 45 minutes;
- High yield boundary options with payout of 200%-350% and expiry time of 30 minutes.
- Short Term Binaries (Turbo Options).
- 30 seconds;
- 1 minute;
- 2 minutes;
- 5 minutes.
Trading Platforms Types
Customers of 24option can trade on a unique platform developed by the company specialists. Without doubt this is the most powerful software among those products used by binary option brokers.
Its functions are quite similar to those of MT4. Technical indicators adapted to binary options simplify the decision making considerably. Extensive research and information section contains all the necessary information.
Customer service of 24option is available 24/5 through the following communication channels:
- Multiline phone;
Customer service team supports the following languages:
Pros of Trading with 24option
The broker is the world’s leader among binary option brokers. It is quite difficult to pick out the features setting it apart from others as there are plenty of them. It is worth noting that some trading tools and underlying assets the company is offering are offered by no other brokers in the world.
Disadvantages of the company being quite relative are the direct result of its strengths. Thus, trying to provide maximum safety of customer assets from dishonest market participants, 24option made passport and address verification of new customers much complicated, which results in considerable delays of the first withdrawal. This procedure is repeated when one customer opens several trading accounts.
Semen Karpov: I’m ready to stand by every positive review for 24option which I can find in the Internet. It is a really first class broker. Highly recommended.
Alisa Zainer: It’s a strong company. The quality of services is brilliant. I’ve been working with the broker for a year and a half and have nothing to complain about. I recommend it to all.
Over the five years since its registration, 24option has left behind all other brokers and turned from their competitor into the “lighthouse”. There is no sense in going into detail on the company characteristics – everything is top level.
The only thing the broker should pay particular attention to is a substantial “congestion” of the trading platform. The huge choice of underlying assets and trading tools may confuse a beginner trader. Even for experienced traders this is a distraction factor.