24Option review and feedback. Scam or not? Free demo!

24Option review

24option is one of the more recognizable binary options brands so I would not consider this brand as a scam. The broker has been active since 2009 and is one of the leading players in the market. 24option is also the official sponsor of Juventus FC.

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24option is the trade name of Rodeler Limited company registered in Cyprus and, as such, is subject to regulations of the Cyprus department CySec (license no.: 207/13).

24option is one of the most popular brokers in the world. The website has been translated into 17 languages. It's enough to know a couple of English phrases to register and start using the service.

Apart from the standard account we can also consider opening a VIP one (a Gold or a Platinum one). Becoming a VIP user means paying a higher deposit, for instance $5000 means receiving a GOLD status and additional 2% refund on winning options, namely 87% instead of the regular 85%. Moreover, there's a bonus in form of 50% of the deposit and a personal "training session" with an expert. Becoming a PLATINUM member means depositing $10000 and getting additional 4% refund on winning options, that is 89% instead of 85% altogether, which is one of the highest returns there are. To add to this, you get 100% of your deposit as a bonus, a personal "training session" along with unlimited access to the expert.

The broker is known for high returns (up to 89% when it comes to the Platinum account), but this comes with $250 minimum deposit. It also translates into a high minimal investment – $24. All in all, 24Option is not a broker for the broke ones.

24Option platform

The platform is provided by TechFinancials. A web browser and registration is all that's needed to access the platform. The application is handy, intuitive and easily understandable. There are plenty of helpful tools available, e.g. real time assets trading or trading signals, which should be used with caution since we always play against the broker in binary options (a broker earns when we lose).

Options offered: high/low, short-­term (30-, 60­-seconds, 2-­, 5­-minutes), boundary and one-touch. There are about 130 types of assets available, which is fairly satisfactory.

What's interesting about the platform is the graphic indicator "trader’s choice", which shows the current trends, meaning the best users' statistics of one asset. To find out just how effective that is, it's best to test the demo account.

TechFinancials platform also enables closing options early which may be especially useful to fundamental analysis users. This feature, however, is only available for some options.

What's distinctive of the platorm is the truly innovative way of displaying the assets: ranking them from those with the shortest to the longest expiry dates. Naturally this default setting can be changed by the user.

As far as the classic options go, expiry dates are predetermined and mostly available during the day and may be selected every 5 minutes. The longer the expiry date, the fewer choices remain. With short-­term options we decide when the asset is activated and choose its expiry date.

When it comes to the profits, they differ a lot. Pairing EUR/USD, GBP/USD and EUR/JPY seems to be the most profitable, as long as the expiry date is within the range of 10 minutes and 2 hours – then it's 82-­83%. It's worse when it comes to short-­term and long­-term options: 60­-70%, but there aren't many choices with the longer ones.

24Option deposits and withdrawals

24option account can be funded via a bank wire, credit card and electronic payment systems (e.g. Skrill, CashU,PerfectMoney or OkPay). Upon registration we choose the currency (USD, EUR, GBP, JPY or RUB), which is why the minimum deposit differs so much: $250/€250/£250/¥25,000/ RUB 15,000.

There is no payout limit, but personal data must be verified before withdrawing money. Payouts take up to a week (Skrill is the fastest method).

DEMO account

The broker offers a demo account, but you need to pay the principal first.

Client support

The website is available in 17 languages and there are representatives in 21 countries willing to speak to the users. The list of representatives can be found here:

A contact form and a chat is another way of contacting the support, but when using the chat we're usually asked to contact our account manager or give them our phone number.

Educational materials

A very comprehensive educational center with many materials that will be especially useful to the beginners. Apart from the articles and basic information we also get access to webinars, a comprehensive e­-book in a standard, pdf version and an interactive one, and a tutorial for begginers or advanced users. Also, VIP members get access to a "personal trainer" and an expert who will answer all their questions. All in all, it's one of those sites that has something for everyone, regardless of their level.

Bonus

Bonuses rely on individual negotiations with the broker and are dependent on the deposit (no more than 100% of the deposit).

24Option SCAM?

There are many different accounts of 24option, but it most definitely cannot be called a scam. There are no problems with payouts, even the higher ones. There have been signals that the highest paid members get additional spread for a dozen or so pips, but this has never been truly verified. Still, it's best to check whether your account is subject to any unfair business practices.

Summary

24option is one of the tested brokers recommended to advanced users. High minimum deposit and investment is what usually discourages beginners, but they will benefit from the educational center.

Access to a professional and comprehensible platform with one of the highest returns is one of the biggest advantages.

Discussion forum and opinions

Forum link

Broker details
Broker’s name 24Option
Website url www.24option.com
Start of 2009
Country of registration Cyprus
Regulation yes (CySec)
Platform TechFinancials
Markets Forex, Indices, Stocks, Commodities
Options High/Low, One-Touch, Boundary, Short-Term
Assets 130
Deposit methods credit card, wire transfer, Skrill, PerfectMoney, cashU, Qiwi, Sofort, Webmoney, Giropay, AstroPay, Neteller, China Union Pay, OkPay
Withdrawal methods credit card, wire transfer, Skrill, PerfectMoney, cashU, Qiwi, Sofort, Webmoney, Giropay, AstroPay, Neteller, China Union Pay, OkPay
Deposit min. $250, €250, £250, ¥25,000
Min/max stake $24, $50,000
Withdrawal min. $10
Deposit/withdrawal fee none
Profit up to 85%, up to 89% for VIP accounts
Account currency USD, EUR, GBP, JPY, RUB
Bonus up to 100% negotiated with manager
Failed transactions refund none
Demo upon request and after depositing money
On-line support yes
Languages English, Arabic, Russian, Korean, Japanese, French, Spanish, Italian, German, Portuguese, Romanian, Danish, Chinese, Turkish, Indonesian, Latvian, Swedish
US traders no
Expiry times 30, 60 seconds; 2, 5, 15, 30 minutes; 1h, 24h; 1 week
Educational materials guide, glossary, e-book, webinars, training videos, online training courses
Mobile trading yes

24Option rank

  • Platform: TechFinancials
  • Launched: 2009
  • Registration: Cyprus
Withdrawal execution
Platform
Support
Functionality and look
Reliability
Payment methods
Educational materials
Return
Assets
Very good

User Rating:

4.3/5
(1 votes)
  • Platform: TechFinancials
  • Launched: 2009
  • Registration: Cyprus
Withdrawal execution 80%
Platform 90%
Support 80%
Functionality and look 100%
Reliability 80%
Payment methods 80%
Educational materials 100%
Return 100%
Assets 84%
88% Very good

User Rating:

87
(1 votes)

Pros
  • Cysec regulation
  • Broker stable position on the market
  • High returns
  • User-friendly platform
  • Closing positions option
  • Educational materials for beginners
  • Quick withdrawals
  • Multilingual website
Cons
  • High deposit minimum
  • High stake minimum



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