24option is one of the most popular binary option brokers today but is it safe? Are there any potential red flags? In the 24option review we carefully go through various important aspects about the broker to help you understand if it’s right for you. Throughout the review you’ll find materials about trading platform, regulation, bonus offers, withdrawal options etc. Keep reading further to find out more.
Unique & feature rich platform. Having been around since 2009, 24option has developed a very competitive trading platform.
Regulated. The company (Rodeler Limited) is regulated by Cyprus Securities and Exchange Commission (Lic. No. 207/13)
Free mobile trading app. You can always keep your finger on the pulse even when you’re not at the computer.
24/7 support. Always available when you need them most. This is one of the best advantages that smaller brokers cannot offer because of limited staff members.
High returns. Up to 89% return from standard High/Low binary options if a trade ends ‘in the money’.
Free educational materials. Very useful for newcomers to understand how the industry work. Free eBook, video center and webinars.
Free signals. After you open your account with 24option, you have a chance to get free trading signals.
Many deposit options. 24option offers many deposit as well as withdrawal options. From credit cards and wire transfers to electronic payments. See more below under ‘deposit options’.
‘Early Closure’ feature. This is a great feature if you feel that your prediction was wrong and an asset price is moving in another direction. You can close your deal before an expiration and cut your potential loss by receiving some of you initial investment back.
Small list of assets.Comparing to other brokers, 24option doesn’t have a large list of assets that you can trade. This is possibly a result of having a unique platform developed in-house. This can be important if you look for something very specific. Please relate to the asset list below for more information.
High minimum deposit. Currently the minimum deposit is set to $250 or €250 (or equivalent in other currencies available). While it’s not a high minimum deposit in the world of investments, some brokers begin to offer lower minimum deposit amounts.
0% out of the money return. No refund on trades that end ‘out of the money’ for standard High/Low binary options.
High withdrawal fees. Depending on your geographical location and withdrawal method, you’ll need to pay a withdrawal commission. For a standard withdrawal to your credit card you’ll need to pay a 3.5% commission. More about commissions you can find here. Please note that these fees are applicable only for account types: Basic and Silver. With these account types only your first withdrawal is going to be free so that you could see how the process works. If you open Gold account, you’ll have a one free withdrawal every month. With Platinum or Diamond account, your withdrawal fees are going to be free as many times as you like.
24option’s trading platform is feature rich and well developed platform for binary option traders. Even though the asset list is a bit smaller than some other brokers may have, it’s secure and simple.
The platform has been developed in-house and it helps the company to develop features quicker than other brokers who are using white label solutions. You’ll see that trading platforms like GrandOption.com, YBinary.com and QuickOption.com are going to be very similar. That’s because all of these brands are owned by the same company that operates 24option.com. All of these platforms and brands are regulated by CySEC under licence no. 207/13. It was issued on 11th July 2013.
Trading Platform and Option Types
On 24option trading platform you can find the following option types: High / Low, Above / Below, Short Term (30 seconds, 1, 2 or 5 minutes), One Touch and Boundary (Click on the option type to learn more).
One Touch and Boundary deals have another trading option where it’s possible to get up to 350% return on trades. These type of trades are called ‘High Yield Touch’ and ‘High Yield Boundary’. These trades are riskier as price ranges are set with a greater reserve and in most cases it’s less likely that prices are going to reach those levels.
24option Account Types
Basic – the very basic account where you’ll have access to a trading platform, customer service, professional charts and trading tools. Your first withdrawal is going to be free but once you use it, on every next withdrawal you’ll need to pay a commission. The commission depends on a withdrawal method you’re going to use. Most popular: credit card withdrawals 3.5% and wire transfers $30, €25, £20 or ¥3,000 fixed.
Silver – even though it’s a small step up the ladder, with Silver account you’re getting a very good upgrade already. In addition to what you’re getting with the Basic account, you’re also getting free trading alerts and a personal coach. This is a very good way to begin learning binary options trading seriously.
Gold – Live trading with experts and SMS/Email alerts are very useful if trading is becoming your job. Probably the best financial gain is that you can withdraw once a month without paying a commission and you’re also getting an extra +2% on your payout. Every penny matters!
Platinum & Diamond – Both accounts are made for professional traders. It’s a great solution for those who take trading seriously and are willing to invest large amounts. You’re getting an extra +4% for a Platinum and +6% for a Diamond account payout in comparison to the Basic account. No more fees on withdrawals and lots of other useful features and bonuses.
How to Get a 24option Demo Account?
24option offer demo accounts only to users who have opened a real trading account on their platform. The whole process looks like this:
Make a Deposit
Get an Account
As the company has many branches around the world there’s also a great selection of languages that you can select to make your trading easier and more understandable.
Both most popular platforms are covered and you can find apps for iOS and Android below:
Available Asset List
- British Petroleum PLC
- Barclays PLC
- Deutsche Lufthansa
- Samsung Electronics
- Google Inc.
- Apple Inc.
- Royal Dutch
- BHP Billiton
- Rio Tinto
- Citi Group
- Westpac Banking Corporation
- Coca Cola
- JPMorgan Chase
- BNP Paribas
- Tata Motors Ltd
- Orange France
- Societe Generale
- Dow Jones
- Nasdaq Composite
- IBEX- 35
- S&P 500
- Nikkei 225
- SMI FUTURE
- MIB-40 FUTURE
- ASX 200 Future
- Hang Seng Future
- Bombay 30
- KOSPI 200
- South Africa 40 Future
- RTS Index
- Kuwait Index
- MSM 30
- Qatar Index
- Gold (XAU)
- Silver (XAG)
- Platinum XPT
Is 24option a scam?
Binary options brokers must be regulated by various independent institutions to consider a broker platform safe to use. 24option (Rodeler Limited) is regulated by CySEC (Cyprus Securities and Exchange Commission), licence no. 207/13.
24option.com Domain Owner Information
Information about the domain owner is not available.
First appeared online on the Web
Based on available information, 24option was founded in 2009. As it can be seen above, the website and the platform first appeared online in 2010 (According to the Web Archive information). The company has a solid history and there are no immediate signs of a scam.
Please note, we’ve identified a potential change of a company in May 2013 which is mentioned in the website’s Legal Terms & Conditions. In May 2013 the broker seems to operate under a different company – Cbay Financial Services Limited. Screenshot below:
There are various methods that you can use to withdraw your funds: credit card, wire transfer, or selected online payment system. Please note that depending on your account you may need to pay a commission for your withdrawal. In order to avoid these commissions you need to upgrade your account to ‘Gold‘ (withdraw your funds once a month for free) or ‘Platinum‘ and ‘Diamond‘ (withdraw your funds any time at no cost).
Please note: in order to withdraw funds you’ll need to send your proof of ID, proof of residence and to verify your payment method.
24option Signals or Trading Alerts
Starting from a ‘Gold‘ account you can use 24option trading alerts for free. This is a useful feature if you’re not sitting next to a computer all the time. Trading alerts may warn you about great deals as well as any significant changes about your live trades. These alerts are being sent either to your phone (sms) or email.