Online trading brokerages are a dime a dozen and it can be very difficult knowing which one to choose or which one is best for you. Also, traders need to consider that many of the online trading brokerages available today are not very reputable and may be fraudulent. Therefore, traders must make their decision wisely by conducting the necessary research for determining whether a broker is good for you or not. Again, this can be time consuming, but luckily for you we have researched and reviewed a handful of online trading brokerages for your viewing. See below, our in-depth review of the lucrative 24Option online trading brokerage.
An Introduction to 24Option
24Option is a well established and popular binary options, forex and CFDs online trading brokerage that provides traders with the opportunity to trade a wide range of assets across various global markets. 24Option is one of the most well respected trading brokerages in Europe and was founded in 2009 by a company known as Rodeler Ltd. The brokerage is based out of Cyprus with their headquarters located at 39 Kolonakiou Street, Ayios Athanasios, Limassol, Cyprus. Since the broker is based in Cyprus, they fall under the regulation of the Cyprus Securities Exchange Commission (CySEC), with license number 207/13. As well, the brokerage is also regulated by the International Financial Services Commission of Belize for their services outside of the European economic area. That being said, 24Option is an international online trading brokerage and offers their services in English, Spanish, Russian, and Tadawul. 24Option’s brokerage services are marketed towards both beginner and advanced traders as their interface and platform are highly advanced yet simple and easy to use. They have been featured in numerous publications and won various awards over the years, crowning 24Option as “the worlds most awarded trading platform”.
24Option Trading Platform
24Option provides their traders with two highly sophisticated trading platforms to choose from; the Tech Financials platform and the popular MetaTrader 4 (MT4) platform. Both platforms are very well developed and feature all sorts of advanced trading tools and features. See these trading platforms overviewed below.
The Tech Financials platform is web-based and accessible directly from the 24Option website. This platform is very user friendly and is geared more towards beginner and inexperienced traders. However, it also supports a number of technical indicators and various charting and analysis tools and features.
Meta Trader 4 (MT4)
The MT4 trading platform is the most popular trading platform in the world and accomodates the needs of both casual and advanced traders. The platform interface is intuitively designed making for a seamless trading experience. Traders can place various order types that are executed with lightning speed. The charting and analysis package is highly sophisticated, and traders can participate in one-click trading directly from the charts. As well traders can participate in automated trading with the use of Expert Advisors (EAs). All in all, the MT4 trading platform does not disappoint.
24Option Account Types
24Option really tries to accommodate every type of trader and their needs. One of the ways they do this is through offering four different account types that come with slightly different features and perks. See them overviewed below.
- Platform Introduction
- Dedicatedaccount manager
- Webinars & seminars
- Financial market introduction
- Demo account 100K
- Daily market brief
- Everything from the Basic Account +
- Risk management explanation
- Sentimental, fundamental, technical analysis one on one tutorial
- Short, medium, long term explanation of common trading strategies
- No maintenance fees
- Max lot
- Everything from the Silver Account +
- One on one MT4 course
- Trading central
- Free withdrawals
- Everything from the Gold Account +
- Favorable spreads
24Option Commissions and Fees
24Option charges their clients various fees for different things. The fees are incurred through spreads and commissions, but there are other fees as well. For instance, traders with a basic account must pay a €10 fee per month. Another fee which applies to all accounts is the account inactivity fee which kicks in after two months of inactivity. This fee can raise up to an outrageous €200 per month if the account is inactive for many months. Withdrawal fees can range from 0.9% to 3.5% depending on the method. Also, a €50 fee will be charged if you withdraw your funds after making only one trade. So, in addition to the commissions and spreads traders incur, there are many additional fees that can be imposed on traders if they are not careful.
24Option Bonuses & Promotions
24Option likes to keep things interesting for their clients and therefore offers various promotions to entice traders to keep trading. Traders can participate in various competitions where they can win cash prizes and other things like tickets for Arsenal or Juventus football matches through company sponsorships. Other promotions and bonuses include gifts such as laptops, TVs, and other electronics. These bonuses are rewarded for certain amounts of trading volume and or deposit bonuses. The parameters change from time to time but are always explained on their website.
24Option Customer Support
24option has excellent multilingual customer service that’s available 24/7 via email, live chat, and telephone. The customer service representatives are quick to respond and answer in a friendly and professional manner. Additional methods of support include a comprehensive education center that comes complete with webinars, eBooks, trading strategies, and more. Compared with many other online trading brokerages, 24Option goes above and beyond with the support they provide.
24Option is an online trading brokerage who cares about their customers and strives to provide them with the most trading options, best resources, and amazing customer support. They have received numerous awards for their excellent services and attract more and more traders all the time. As well, 24option offers competitive fees for the services they provide, and two outstanding trading platforms. 24Option is also licensed and regulated by a reputable regulatory authority and they have a viable reputation in the online trading industry. All in all, we believe 24Option is a trusted and competent online trading broker.
|Languages||English, Russian, German and many more|
|Deposit Methods||PayPal , Union Pay , WebMoney, wire, credit cards, Neteller and more|