Option 24 Review

Option 24
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Overview

24Option  is an award winning platform that has a good international reputation, so for traders wanting to for example move from forex into binary they may be a good choice…. more

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Details

Broker Option 24
Website URL www.24option.com
Founded 2009
Headquarters Limassol
Support Types Phone , Fax , Email , Web form , Live chat
Languages English , Spanish , German , French , Arabic , Dutch , Indonesian , Italian , Korean , Japanese , Latvian , Romanian , Russian , Swedish , Turkish , Portugeuse
Trading Platform TechFinancials
Minimum 1st Deposit $250
Minimum Trade Amount $24
Maximum Trade Amount $50,000
Bonus 100% Welcome Bonus
Payout 70-85%
Free Demo Account Yes
Regulated Yes
Regulation Cyprus Securities and Exchange Commission 207/13
Deposit Methods Bank wire , Credit/Debit Card , Neteller , Skrill , Many more
Withdrawal Methods Bank wire , Credit/Debit Card , Neteller , Skrill , Many more
Number of Assets 36
Types of Assets Currencies , Commodities , Stocks , Indices
Option Types High/Low , One Touch , Boundary , Early Closure
Account Currency USD , GBP , JPY , EUR
US Traders Allowed No
Mobile Trading Yes
Overall Score 7

Pros

  • Award Winning Broker

Cons

  • Need to deposit to use Demo Account

Full Review

24Option  is an award winning platform that has a good international reputation, so for traders wanting to for example move from forex into binary they may be a good choice. For beginners who have no trading experience and a low bankroll however they not be the best choice. With a minimum deposit of $250 that needs to be made before a demo account can be used, and minimum trades of $24 this is probably not the best place to learn your trade.

Experienced traders on the other hand and those with cash to spare may find that the platform is justifiably award winning. They have an excellent mobile platform which is something many other brokers have had the smarts to launch yet.

Top 5 trades are gleefully splashed across the homepage where you can see the latest trades that have earned users six figure sums on 60 second trades. So, this is obviously a bit of ‘playboy’ broker site, 3 of their top 5 trades being 60 second bets which is pretty much almost a red or black proposition with a lower return than roulette.

Personal account managers are available, but it has been noted that when it comes to seeking advice on trading strategies you may want to look somewhere else than your trading platform. Account managers are available on Forex platforms where you are playing against the market, so it is their interest to see you in profit, however  with binary you are playing against the house, and no matter how good a platform is they don’t want you to come out on top.

Support whilst not perfect is reportedly more reliable than many other platforms, you may be able to tell that they are reading from a manual, but, at least they answer and can point you elsewhere if they cannot directly resolve your query.

There are plenty of educational resource on the site which will serve as a good introduction to trading. However, if you really want to learn how to trade as opposed to ‘flipping a coin on a 30 second bet’ you should really be thinking of learning the ropes via somewhere like babypips.com.

24Option on the whole are a markedly better proposition than many other binary brokers. We would like to see a demo account available without depositing, however, other than that the site offers a good trading interface, and just as important, they are regulated.

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