24Option Broker Review
24Option is a world renowned award winning broker, which is located in Limassol, Cyprus.
Since 2010, The broker has been providing trading services for binary option traders. Lately,24Option has expanded their services to and now it also providing services for Forex, CFD’s, commodities, stocks and indexes, and now is considered as a full service forex broker. 24Option is owned by Rodeler Limited, which is regulated by the Cyprus securities and Exchange Commission or CySEC under the license number 207/13. Grandoption, QuickOption and 24FX brands are also owned by Rodeler, which provides the clients the diversification of enjoying the most advanced trading platform available in the market.
The services of 24Option are available on a cross border basis to EU member states. Since the company’s regulatory obligations, the clients funds are safeguarded by being deposited into segregated bank accounts. The company’s has two main offices, one which is located in London, England, and the company’s headquarters, which is located at #39 Kolonakiou Street, Ayios Anthanasios Limassol, CY-4103 in Cyprus. Since 24Options is yet to be active in the United States, the broker is no accepting customers based in the United States.
Unique Features of Trading with 24Option
Due to 24Option’s large experience in the industry, being one the first online binary brokers, the broker gives it’s clients the opportunity to trade on a wide range of assets that are carefully selected to attract clients from all around the world. The list includes CFD’s trading on equity indexes from the world’s largest economies. Also, 24Option is offering CFD’s on up and coming U.S Stocks, like Google, Apple and Facebook. Furthermore, clients are able to trade on the largest banks in Europe and Russia, such as Barclays, Deutsche Bank and Sberbank.
As mentioned above, 24Option recently added Forex and CFD’s services into its arsenal, The leverage that is being offered is 200:1 when it comes to Forex trading. The clients are able to trade on all Major and Minor currency pairs, such as the USD, EUR, JPY, GBP, AUD, and CHF, exotic currency pairs are also available on the platform. Clients of 24Option have the option to trade through the broker’s own in-house platform, in addition to the MetaTrader4. The option of trading through your mobile device is also available, using the iOS and Android systems.
Like many online forex brokers, 24Option isn’t applying any commission on the clients, therefore, widening a currency pair’s dealer spread to compensate themselves. The broker is offering a variety of spreads depending on the account type of the trader.
24Option is offering the services the popular MetaTrader4 platform, in addition, the broker has developed their own in-house trading platform, that’s offering many features that make the trading on it much more efficient and comfortable, which cannot be found on many other platforms. Trading on the new platform includes both binary options trading and the new ability to trade Forex, CFD’s and commodities.
Deposits and Withdrawals
The wide range of account types that are being offered by 24Option are assessed for each client depending on the account manager’s evaluation.
Basic – The Basic account offers an a very comfortable spread for both Major, Minor and Exotic currency pairs, Exotic currency pairs as low as seven pips, major pairs as low as three pips, and minor currency pairs the spreads are as low as four pips. On the basic account the client has the option to trade on the MT4 and the company’s Web platform, which is also available on both Android and iOS. The basic account also offers a 24/7 customer service. The minimum deposit that is required for the basic account is €250, £250, ¥25,000 or RUB 10,000
Silver- Besides all of the services and features that are available on the basic account, the silver account is offering Trading alerts and a Personal Trading Coach. The minimum requirement for a Silver account is a deposit of 2000 EUR/GBP.
Gold – In addition to all of the services listed above, the Gold account is providing the trader SMS and email alerts. Also, Gold account members recieve an extra 2% return on every trade they open. The minimum deposit to become a Gold account member is 25,000 EUR/GBP.
Platinum- The Platinum account provides all of the services listed above, the account provides an exclusive access to a Live Training Session and to a research website, moreover, member of the Platinum account receive an extra 4% return for every trade they open. To become a member of a Platinum account, the client need to deposit the minimum amount of 50,000 EUR/GBP.
Diamond – The Diamond account combines all of the features of all of the account types, in addition, members of the Diamond account receive tickets to Juventus FC soccer matches in Europe,and moreover, the client receives a customizable trading platform, there is no specific amount that needs to be deposited to the account to become a member of the Diamond account, the amount needs to be set up with clients account manager.
The minimum amount to start up a live forex account with 24Option is 250 EUR/GBP. The deposit to the trading account can be done via a credit card, 24Option accepts Visa,MasterCard and Discover, wire transfers through a bank are also accepted, and through Skrill, Ucash, Neteller, Qiwi, Sofort, WebMoney, and PaySafe, but 24Option doesn’t accept PayPal.
Minimum deposit through a credit card, is €250, £250, ¥50,000 and RUB 10,000. And the minimum through a bank wire transfer is £1,000, €1,000 and ¥100,000.click here to open an account
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