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2nd place in ranking!
Top Binary Options Broker 2020!
Best For Beginners!
Free Trading Education!
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7 Binary Options
In our review of 24Option, you will find that this broker offers top notch binary options trading. The broad span of their service provisions makes the user feel completely comfortable with every phase of the entire process.
The 24Option team immediately helps clients to realize the features are innovative and help investors to expand their knowledge. The platform is phenomenal with a full category of trading options that offer investment amounts to appeasing every budget. You can also access your account from any mobile device to enable you to utilize all the trading chances.
24Option is one of the recommended binary options brokers in 7BinaryOptions.com.
Online since: 2020
Max Returns: 88%
Minimum Deposit: $100
Minimum Investment: $24
Maximum Investment: $100 000
Currencies: USD, EUR, GBP, Yen
Countries: All nations excl. USA & Australia
- Very good trading software
- 60 s option
- Excellent customer service
- Free signals
- Mobile Trading
- Doesn’t accept US traders
7 Binary Options Rating:
Is It Regulated?
Sometimes it is hard to analyze the trustworthiness of a binary options broker. After all, a fantastic and professional website doesn’t mean anything. Extensive features are no guarantee of honesty or sound business practices either. Finding out whether a broker is trustworthy is crucial. The first thing that we do is analyze and review any broker, regardless of whether they are new to the market or one of the more established players.
We use a number of methods for comparing how trustworthy the various brokers are, but the most important is whether or not they are regulated. Regulation provides third-party oversight to ensure that the broker is not doing anything that might harm or unfairly disadvantage its customers. When looking at the regulatory status of the various binary options brokers that are available, 24 Option is in an elite group.
This is because 24 Option is regulated by CySEC. In fact, it was one of the first binary options brokers to be officially recognized by CySEC when the regulator started to monitor the industry.
CySEC regulation is impressive in itself, but 24Option has taken it a few steps further. Specifically, it also has a registration by a number of institutions. 24option takes measures to safeguard Clients’ Funds. In this sense, the Company cooperates only with banks authorized and regulated by EU member states and that are highly rated by credit rating agencies
In addition, CySEC is the regulatory body in Cyprus which allows to brokers to provide its services within the European Union. The mission of the CySEC is to exercise effective supervision to ensure investor protection and the healthy development of the securities market.
It is important to say that it is healthy to be skeptical when looking at binary options brokers – the industry has too many cowboy operators. 24Option ticks all the right boxes, so it is worth further evaluation.
Available Underlying Assets Reviewed
Generally speaking, brokers that offer a large number of underlying assets offer the best trading experience. This is because you have more choice and can diversify and/or target your trading strategy to suit your needs. You will not be disappointed by the range of underlying assets available at 24Option.
It has more than 120. This is more than almost all other brokers and is probably due to the fact that 24Option is one of the longest operating of all binary options brokers. It gives you the choice to trade binary options and Forex/CFD in over of over six stock, commodity, indices, and currency exchanges.
Top Broker! The Best Choice!
2nd place in ranking!
Top Binary Options Broker 2020!
Best For Beginners!
Free Trading Education!
Free Demo Account!
Get Your Sign-Up Bonus Now:
Only For Experienced Traders.
The underlying stocks include many of the biggest and more well-known companies in the world. This includes oil companies, technology companies, telecommunications companies, car manufacturers, and more. There are around 60 to choose from; and because they are major underlying stocks, you will find a lot of information to analyze and track, which should help your decision making process.
Commodities are a popular underlying asset for many traders involved in binary options, and many include specific commodities as part of their overall strategy.
With 24Option, you can choose from a number of commodity options including:
- crude oil
- you can even place binary options and Forex/CFDs trades on a coffee
The range of underlying indices available at 24Option is not as good as the other types of underlying asset, but there are still all the big names. This includes Dow Jones and the FTSE 100, two of the most followed indices in the world. You can also trade on the S&P 500 as well as Russia’s MICEX and China’s Hang Sheng.
Currencies are traded in pairs. You have to pick the currency that you think will perform better within the set timeframe out of the two. The currencies included in the various pairs are the world’s major currencies, so you should be able to do plenty of research and trend analysis. The currency pairs that 24Option offers include:
You should remember that research is the crucial part of every trading strategy whatever underlying asset you choose and whatever type of option you decide to trade. Make sure you get to know the markets you trade in as much as you can. What is the Trading Platform Like?
Analyzing the trading platform is a crucial part of determining the quality of a binary options broker. The trading platform is essentially the user interface— the place where you gather information, monitor data, place trades, and manage your account.
Trading platforms vary greatly from broker to broker, but you can put them all into two broad categories. The first is a custom built platform, and the second is a platform based on software created by well-known providers (SpotOption is probably the best-known example). There are advantages and disadvantages to both approaches.
Creating a custom platform means the broker can optimize the platform for its customers, i.e. tailor it to the services it offers, the underlying assets it offers, and the options it offers. A custom built platform also gives the broker more control over making it easy to use and ensuring every trader has all the information they need.
Using a third party platform, on the other hand, is less costly to develop and less risky, as the software is already tried and tested.
This is all important, as the trading platform offered to customers can make or break a binary options broker. In other words, the trading platform is more important than special offers, or other marketing tools. After all, if traders don’t like using it, they won’t.
Points You Should Know about 24Option Platform:
- 24Option chose to use a third-party platform from the Israeli company TechFinancials. It is an established name in the binary options and forex broker industries. Therefore, its platform is well tried and tested. It is also intuitive with an attractive and easy to use design.
- While it is also free from clutter, it is packed with information, so you can make the right decisions for your trades. This includes prices that are updated in real time. Real-time prices mean any quotes you get are based on the latest available information provided by 24options liquidity provider.
- In addition to the above, there is an impressive variety of pricing options available at 24Option. This optimizes the pay outs, which makes it possible (with the right strategy) to expand investors trading experience. Obviously, it is not possible to reach a pay-out level of 100 percent, but 24Option’s score is typically between 70 and 88 percent per successful trade. But have in mind that if your prediction is wrong you will lose your invested capital on this trade. This is more than respectable and is also better than most, if not all, of its competitors.
- Some people in the binary options industry describe TechFinancials’ platform as being mid-range. That may be so, but it still manages to have everything the trader needs. This includes advanced traders. For example, you can trade on a wide range of underlying assets that includes currency pairs, the stocks of many blue chip and internationally recognized companies, commodities, and indices.
- Analytical tools are available also, so you can gather all the information you need before deciding to make a trade. Most of this is represented in graph form to make it as easy as possible to read and identify trends. Some technical indicators are available too.
This above is just an overview of the platform with a focus on the design and technical aspects of 24Option . Now it is time to get into it in more detail by looking at some of the features and options available. After reading the next section, you will have a better understanding of what 24Option is capable of and what you can expect to achieve.
What Option Types Are Available?
Options are a type of trade that you can make that will end in either a profit or loss. Generally, there are three main types:
- Underlying asset specific options – These can only be used to place trades from a specific list of underlying assets.
- Time specific options – These are trades that stay live for a specific time period before expiring. They can be either long term or short term.
- Mixture – Other options mix both of the above, i.e. they are limited by both underlying asset and time.
24 Option’s option types fall into these broad categories. Specifically, it has four options you can choose from. They include:
- High/Low Option
The High/Low option is one of the most common binary option types. In fact, every broker that we have analyzed offers High/Low options, although some call them Call/Put options. Despite the name, they are the same thing.
In a High/Low option trade, you predict the final price of an underlying asset based on its current price. In other words, you predict whether the final price will be higher than the current price or lower than the current price. The trade will have an expiration time, and you win or lose depending on whether your prediction is correct at that time.
High/Low binary option trades can be placed on a wide variety of underlying assets, including currency pairs and stocks. It is a low-risk form of trading, which means the pay outs are typically lower than other option types that are available. Because they are low risk trades, they are suitable for new traders and cautious traders that don’t want to occur big losses and want to explore their options.
- One-Touch and No-Touch Options
One-Touch or No-Touch trades are based on price, so they fall into a similar category as High/Low trades. They are a more risky trade, as they are harder to accurately predict. As a result, pay outs are typically much higher.
In both variations of the trade, the broker sets a target price for the underlying asset and an expiration time. If you select the One-Touch option, you are predicting the underlying asset will reach the price set by the broker before the time expires. As soon as this price is achieved by the underlying asset, the trade ends and you get the profits. If the underlying asset does not reach the predicted price by the time the trade expires, you lose the money.
If you select a No-Touch option, you are predicting that the price of the underlying asset will not reach the set price. If it does reach the set price, the trade ends and you lose. To win you have to wait until the expiration time during which the underlying asset cannot “touch” the target price.
This is a risky and, therefore, potentially more lucrative trade because you are making a more difficult prediction. For example, it is easier to predict if a trade is going to go higher or lower than its current value over the next five hours. It is much harder to predict that it will reach a specific value in that time period. Similarly, it is also hard to predict that it won’t reach a target price in that time period. This is because you have to predict both the movement of the price and how much it will move by. With a High/Low option, you only have to predict the direction of movement.
- Boundary Options
Boundary options carry a level of risk that sits between High/Low options and One-Touch/No-Touch options. As a result, the pay outs are more than they are for High/Low options but are lower than touch options.
In a Boundary options trade, an underlying asset will be given a boundary price by the broker. This is a price range that includes both an upper and a lower value. To make the trade, you predict whether the underlying asset’s price will stay within the boundary during the time period of the trade or whether it will fall outside the boundary.
This is why there is less risk than touch options, i.e. there are more price possibilities that result in a win.
Because of the nature of Forex markets, most experienced traders do not place Boundary options trades on Forex pairs.
- 60-Second Option
This is one of the newest types of options in the binary options industry, and it is available on 24Option. It is a high-thrill, high stakes, high pay out type of option that expires 60 seconds after you open it. A number of variations are available. You can win big, but it is not a method of trading for the risk averse.
Option Expiration Times Reviewed
Expiration times can make the difference between a successful and an unsuccessful trade. In fact, every second counts. Just one second is all it takes to turn a profit into a loss or a loss into a profit. There are no strict rules that determine whether the expiration times offered by a broker are good or not. However, all good platforms offer a wide variety to choose from. This is exactly what you get with 24 Option. The expiration times it offers include:
Short term expiration times allow you to make multiple trades in a short period of time. They work particularly well with trades on the underlying stocks of major companies and on currency pairs. Good results can be more challenging to achieve with binary option and Forex/CFDs trading in indices and commodities. Therefore, you should consider the type of underlying asset you are trading on before opting for a short term option. You expect average levels of profit, although the risk is normally on the high side.
The short term expiration times available at 24Option are:
- 60 seconds
- Two and five minutes
- Half an hour and an hour
There are two long term expiration times available at 24Option. They are five hours and a variable length end-of-day expiration time. This is more limited than some other platforms, which also offer longer expiration times; but those timeframes are rarely used by traders. Binary options traders typically prefer shorter terms and like the trading day to close without any open positions. Therefore, the offering from 24Option is sufficient.
Demo Account Availability
Demo accounts are available for new traders at 24Option. This account lets you learn how to use the trading platform and get to know the features and options of the dashboard. It is not a stripped-down version, so everything you see in the demo account is exactly the same as the real account you will get when you start trading for real.
In the demo account, you can trade; but, as hinted in the last paragraph, they are not real trades. This means you don’t have to deposit or risk any of your own money when using the demo account. You are given $40,000 of virtual money so you can learn how 24Option works. This also lets you try some trading strategies so you have a plan whenever you start putting your own money on the line.
In other words, using a 24Option demo account is a completely risk free way of deciding whether you like the platform. It also lets you find out if it has all the tools you need, and it lets you test trading strategies.
One thing you should remember is that you have to keep your virtual balance above $0. This is because the virtual funds are not replenished, so once it hits zero, you will not be able to make any further virtual trades.
If you are new to binary options trading or have limited experience, we highly recommend you start with 24Option’s demo account. It is sometimes tempting to jump right in with real money, but it is always better to test the binary option system, get comfortable with the platform, and then make an informed buying decision. If you decide after using the demo that you are happy, you can simply deposit money into your account and begin trading for real cash. If you are not happy, you never have to log in to the account again.
Binary options are traded by people from all backgrounds. It doesn’t matter what country you come from, whether you are male or female, how much money you earn, how good your education was, or what your religious beliefs are. The only rule is you have to be over 18. After that, all you need is Internet access, a willingness to learn and a tolerance for risk. However, most binary options brokers don’t have a suitable offering for one section of the community – Muslims.
24Option is unique in this regard, as it does offer the option of an Islamic account. This gives the hundreds of thousands of Muslims interested in binary options trading the opportunity to get an account and trade with the peace of mind that they are doing it on a platform and with an account that complies with Sharia Law.
It is free to set up and own an Islamic account at 24Option, just as it is free to have a standard account. Nothing about the account could be described as usury. This means there are no hidden charges or rollovers. Commission and interest are not charged either.
In addition, Islamic accounts are available in Arabic to cater to Muslims who speak it as their first – or only – language. The site itself is in Arabic as is the user interface. All the help materials are available in Arabic too, including binary options trading tutorials, ebooks, and more.
We found that 24option payouts are a bit to rave about in the meantime as well. In fact, most payouts tend to be typically higher. The payout is between a 70 and 88 percent on successful traders. For most 60 seconds options, clients have made as much as a 70 percent payouts and that’s great for one minute in our opinion.But investors should have in mind that they might lose all their invested capital.
Personal account managers explain to the clients that the payouts will vary and change as new underlying assets enter the platform. It is important to remember that clients might lose their invested capital as well. However, most investors find comfort in knowing that all of the payouts are viewable on the trading platform and this includes out of the money payouts.
Another motivational tool during our review of trade efforts with 24option, is their various account types e.g. Platinum, Gold and Standard account.
- Platinum account holders generally have access to further features like high/low options, high-yield, boundary, and touch options. They get most update info about latest trends in the market, and they also get personal training session as well.
- Gold account holders usually get 2% return on each successful trade that they make and they can also trade all option.
- Standard account holders can also trade all options and they can access 24 hours customer support as well.
It helps to understand the depths of each account and which best fits your trading style. We found that the insight offered by the personal account manager team to be very useful in helping clients to decide which route to take as a beginner. The free demo account is a must for anyone on an entry trading level. This account provides the platform needed to familiarize yourself with the basics of binary trading options and without it, many newbies would be lost.
With 24Option you can trade Binary Option on different underlying assets such us currencies, commodities such as gold and silver, leading stocks such as BMW and Google, indices that include S&P500, DAX, and NASDAQ.The underlying assets of 24option review are very encouraging and provide great alternatives for various trade levels.
Boundary options are of course a favourite but we’ve found that High Yield options can be rewarding when traded with care. Traders gain a more clear perspective of the platform and its importance and this causes them to be more attentive to the underlying assets and available options. We also found as a positive incentive that 24option presents the option to close early as on online trading feature.
Screenshot of The Trading Software
Deposit and Withdrawals
The deposit interface of 24option is very simple to comprehend. It’s obviously simple if one who has never traded can do it. In addition to that, it’s fast and very safe to use, you can deposit your funds in GBP, USD, JPY and through digital payment. With all that’s going on in the world today, safety while trading is essential.
Minimum deposit amount offered by 24option broker is 100GBP, USD, EURO, and approximately 10000JPY. There are various methods of funding allowed for online binary trading, like clients can deposit funds by using MasterCard or Visa, Credit card, digital payment method or through bank transfer. The simple process afforded by 24option makes it more enjoyable. The withdrawal standard of 24option is without a doubt more convenient and many other brokers out there.
If nothing else we’ve mentioned encourages you to at least give 24option a chance, their superior customer service will win you over at every phase. It is most important to be provided great customer service and this has been our discovery at every phase of 24option. It is essential that we mention the significant number of available languages for 24option. This is a great underlying asset for international traders who desire to trade in their native language.
Although live chat is offered in various languages, this isn’t always possible. Most of the support comes through as English but there is support available in 13 other languages. For any binary options trading queries, 24Option has live chat, email and telephone numbers. This is in order to provide excellent customer service in a prompt and professional manner, anywhere in the world.
24Option trading platform is easy to use for trading binary options and it provides high returns for traders. It is also CySec regulated and has access to around the clock customer service for any assistance on trading. This all makes 24Option a binary option broker we can highly recommend.
Is this your final decision?
We suggest you visit one of the most popular trading platforms instead!
Customer Service: Live Chat / Email: [email protected]
Languages: English, Spanish, French, German, Italian, Danish, Swedish, Russian, Latvian, Japanese, Arabic, Romanian, Korean, Finnish, Indonesian, Turkish, Portuguese
Trading Options: High / Low, Boundary, Touch Options, High Yield Options
Underlying assets: Currencies, Stocks, Indices, Commodities
Expiry Times: 60 sec, 2min, 5min, 15 min, 30 min, 1 hr, 24 hr+, End of Month
Deposits and Withdrawals: Visa, Mastercard, Bank Wire, Skrill Moneybookers, Diners Club, JCB, Discover Card, Liberty Reserve, Dankort, Cartasi, Laser, Visa Electron
Withdrawal Time: 1-3 bank days
Demo account: Yes
Is 24Option Scam? Broker review
On the web, you can find a lot about 24option. It is no surprise, because according to the statistics, 24option is the 2nd largest binary options broker in the world (Banc de Binary is 1st) However in this review, we will show you all information combined, making a big list of reasons why 24option is a scam or not.
24option is a binary options broker established in 2020 with headquarters in Limassol, Cyprus . Some may think this is s red flag, but, in fact, that is completely normal for binary options brokers. Most of them have their headquarters in Cyprus, because of regulatory purposes.
24option basic info
- Official Website: www.24option.com
- Headquarters: Limassol, Cyprus
- Trading Platform: Tech Financials
- 2nd largest binary options broker
Why is 24option scam?
I’ve read many complaints against 24option, saying that they scam people, they never let you withdraw your earned money, or even they lie about giving you free money and such. Those are all invalid reasons. Read on to see what I mean.
People complain, that they were offered free money (24option bonus) but then when it came down to paying customers out, there were problems. Yes – this situation can occur. But only if a customer has accepted a bonus AND has not completed all procedures needed for the bonus to be withdrawn. In order to withdraw money including the bonus offered by 24options, a customer is required to:
- Upload necessary documents to prove the customer is, in fact, the person they claim to be
- Complete wagering requirements (40x the value of the bonus)
If any of the above is not met, the withdrawal of the bonus funds is not possible. If you have this kind of problems, please, contact the customer support.
Another reason why clients might complain and dislike 24option is: losing their money. Trading binary options simply involves risk. Everyone should know that. It is an investment, with which your money is at risk if you do not invest (make trades) wisely. If you do not know what you are doing, please, learn something about binary options first and try trading on a demo account. You can do that either with 24option, but also with our demo account: x Binary Options Demo.
24Options are regulated by important regulatory authorities of the world including the FCA in the United Kingdom, CySEC, Financial Market Authority and more. The complete list of regulators, that have approved trading with 24options can be found below – all of these official authorities have said “24Option is NOT a scam,” and gave them regulations.
A list of regulations found at www.24option.com
Their platform (Tech Financials)
Tech Financials is a platform programmed by a third-party company that creates binary options trading platforms not only for Banc de Binary but also for other brokers. 24Option is, however, one of the few brokers that use this platform.
This means that trading program, where traders make all the trades is not programmed by the broker itself, but by a different company. In the company’s intents is to make the platform as good as possible, in order to sell it to their clients (24option). If it was any sketchy, they would not buy it.
24option’s platform had to be reviewed by all regulatory authorities.
Have you been scammed by any broker? MyChargeBack might be able to help you! Fill the form below.
More information about 24option
More about the author Step
I’ve wanted to build a business of some kind and earn money since I was in middle school. I wasn’t very successful though until my senior year in highschool, when I finally started to think about doing online business. Nowadays I profitably trade binary options full-time and thus gladly share my experiences with you. More posts by this author
190 Responses to “Is 24Option Scam? Broker review”
I lost a house worth of money. DO NOT GO HERE it ruined my life
The worst trading plataform, don’t trust them, they will rip you off.
The worst trading plataform, they just rip me off 300 dollars from my account with the explanation was that the account was inactive for 1 month scammers, they don’t ever let you know that there is a fee for this and before they made close all my operations, because they had to makes changes to the plataform, without any notice. Im going to redraw my money now from this scammers.
Sir, is Premium 24option a scam? Can i still get my money from them?
Hello, I don’t know anything about 24option premium, I’m sorry.
Everywhere page I open that has to do with binaryoption or forex investments all have great customer reviews but when I tried investing with binaryoption, from plus option, to binomo to IQoption, I lost a lot. I still have someone helping me with my trades but I keep losing and now they want me to invest more money. I need to speak with people who have invested and had similar situations. Please reach out to me on my username
Hello, thank you for sharing your story. Trading is really complexive and long term activity. It took some time to find the right strategy, broker and the power to influence own psychology. Be patient. We wish you good luck.
24 option is a scam organised by Israelis, do NOT trade and watch out. you will find more infos on YouTube. Good luck to all of you
HI, so Option 24 is a scam. i invested money about 3 weeks ago, now they say i must pay 10% of the total profit made. they say because the american government and the IRS tax officials have found that a lot of money is made the thought binary trading. am i scammed or what. when i asked why they did not tell me prior they are not giving clear answers. is there a way of getting back the funds i invested??
Mlu did you get any help regarding your account. I also need help.
We are on the same boat. $100 =$1000, did I get No. Now they want withdrawal fees unexplained. That is 24option.
I 100% hate 24Option with all my heart.. They are thieves… Complete liars… Scammers….
Did you get your money back? Being Approached by a guy called Franco Lunga to invest
Got approached by Annika Luan, I haven’t invested anything, am so doubtful more especially being approached on social media . And they say they are using 24 option investment
hello sirs,,do you know Tatiana Konoplina > She said she is an account manager in 24option.please help me,,Ihave jnot invested yet but receiving calls from her and emails too.
The job of the account manager is to help you make your first deposit , if you don’t your account is not completed , they don’t call you to start trading or to take your money. Because when you deposit you get assigned to the Senior Account Manager who will be basically your mentor and tell you everything about trading. After that if you don’t want to trade or you don’t like it , you just withdraw your money and close your account , no questions asked and no fees! I know many people that work there.
HI I’m new to trading, my question is how is it possible to trade with minimum $200 investment under your own account? Normal broker would put you in a pool of shares under their account and managed by them, you have the option to join or not. When you trade using 24option is it your own share as in buying actual lot, or just your small portion under their share?
Dear Mozzax11, with 24Option and any other CFD brokers, it’s only a CFD. You don’t buy the stocks directly through them. However as you can read in the comment section below, it is not recommended to use 24Option!
Mr j.pro i had a friend of mine who meet a woman in facebook in the name of EDNA PEARL he says that within 48hrs we could have our gain profit. My friend immidiately finance because he trust EDNA. After 3 days jhon have his profit , but when he tried to withraw ,the company ask him 770 USD for withdrawal charges. Yes he paid it. But until now he had not withdrawn any money. Very negative. Help him . Im planning to invest or trade. But i have doubt now. Pls help us
Dear Michael, as we tell others – never trust anyone who says they will trade on your behalf. Always manage your own money. I am sad to say it, but I think you got scammed by this EDNA. Do not pay her any more money, she will never send you money back, be carefoul.
24option Broker Review
24option General Info
24option is one of most recognized and reliable forex and CFDs brokers in online trading industry, now available in South Africa too. One of rare brands that also accept ZAR deposits!
We had a pleasure reviewing them and offer our readers an objective overview of 24option trading platform. In our 24option review you can get closer insight of available trading features.
Owned by Rodeler Limited, 24option review is present in the options industry since 2020. In 2020 they expanded they offering with CFDs and Forex making them complete. Eventually the binary options offering was ditched in favor of CFDs which enable better terms for traders since they dont need expiry time enabling customers to close trades when they want without penalties. The new platform for FX and CFDs is super intuitive and most traders will find it easy to trade on this global market.
Below, you can find out more about:
24option Trading Platform
Trading software, used by 24option is MT4 and the Web Trader . Known for its high security level, platform is easy to use and present no difficulties for South African traders. With a modern visual appearance, 24option is an excellent choice for traders to join this trading platform and start online trading journey. This broker offers its trading platform to traders worldwide, including traders from South Africa.
To start trading with 24option, minimum deposit is $250 and leverage i 1:400.
Investment amount range from 0.01 lot per trade. South African traders are enabled to open accounts with EUR, USD and GBP.
24option Trading Features
In 24option review, we found out they have available a wide range of trade options, which include all kinds of underlying assets to base CFDs on.
These trade options are combined with different features like stop loss and others. To their traders from South Africa, 24option review offers a wide range of underlying assets, which we can divide in stocks, commodities, currencies and indices. To be more specific, this broker offers on trading platform 43 stocks, 11 commodities, 30 currencies and 19 indices. Trading hours with underlying assets are Mondays to Fridays from 5 a.m. to 10 p.m.
24option have available several different and yet useful trading features, that can help traders maximize their trading experience. Features like mobile trading and demo account are excellent tools that show effort of this broker to give its best to ensure traders an alternative trading experience.
Mobile trading is for sure very convenient for all South African traders. With the use of mobile app it is possible to trades on mobile platform also.
24option mobile app is compatible with iOS system and Android devices also. Traders can place trades on a wide range of underlying assets also on mobile platform.
With such a possibility, traders no longer have to use regular platform, now they can everywhere and still be able to continue trading CFDs. Mobile app can be used on smartphones and tablets, as well as on computers.
The second great feature offered by 24option review is demo account, that has shown to be extremely useful for all levels of traders, especially for those who have just joined the 24option trading platform.
On demo platform, traders can see how it actually looks like when you trade CFDs. Great thing regarding demo is that is risk free, because you don’t invest your real money, it is only virtual one.
This way, 24option enables traders in South Africa to practice and use some of trading techniques and strategies to see will it turn out to be successful or not. Later on, when you feel confident enough in your trading skills, you can just switch from demo trading to real one and place trades in numerous underlying assets.
On trading platform, as visible in 24option review, we have seen one of the best Education Center in the forex industry.
A variety of tutorials, videos, ebooks and many more are available in our 24option review. Traders with different trading knowledge can use these trading tutorials.
This education support presents an excellent feature for both beginners traders and professional traders, due to the fact that multiple trading materials are offered for basic trading and also, advanced trading. South African traders can check 24option’s blog and see the latest market news, based on current market situation.
24option Trading Accounts
With 5 available account types, no one can actually say that 24option doesn’t provide traders with a choice.
Based on minimum deposit amount invested and other trading features and services, all these account have their differences. More detailed info please read below in 24option review:
24option Basic Account
In this account type, South African traders can find a lot of trading tools and options to be used in the trading process. They include leverage up to 1:200 (a feature which assist traders to achieve higher impact while having smalller amounts of money).
South Africans also have access to three types of spreads for different currency pairs; exotics, majors and minors. Entire trading process can be done on web-based platform as well as MT4 platform. We also discovered in 24option broker review how they provide One-click trading feature which enables traders to execute trades faster than before.
24/7 customer support service is included in 24option Basic account, alongside with one free withdrawal per month. As part of Basic account, Trading Central (basic) is also included as a powerful analyzing tool to use.
24option Silver Account
In 24option Silver account, South African traders have on disposal same trading techniques and instruments as in Basic account. They include: leverage up to 1:200, spreads (3, 4 and 7 pips), one click trading option, mobile app and customer support agents which are available 24 hrs per day.
Traders can get one withdrawal per month free of charge, as well as opportunity to use Trading Central. Also, this trading account includes trading alerts about upcoming events which are generated in real time. In Silver account type, Personal Coach is included for traders to contact him regarding any trading question.
24option Gold Account
In our 24option broker review, we noticed how Gold account is marked as the most popular trading account, in comparison with other ones. This account type included all trading options and feature as seen in Silver account type.
The only additional tool is possibility to receive trading signals via smartphone or sms. Just as with Silver account, traders in South Africa are able to get help from dedicated account manager, have one free withdrawal per month, features such as mobile app, one-click trading etc.
24option Platinum Account
What South Africans get with Platinum account seems as a wide selection of trading tools and services, which can assist traders into having better financial results while trading online.
Platinum trading account includes: leverage up to 1:200, major, exotics and minor spreads, mobile platform version and one-click trading. There is no withdrawal fee meaning how traders can withdrawal whatever number of times they want.
Traders have option to contact dedicated Personal Coach or support agents who are available 24/7. Also, it is possible to recieve trading alerts in real time, get them via sms or email. In this Platinum account, traders can learn from website research, just as having access on live training sessions.
24option Diamond Account
Diamond account presents itself as the most equipped trading account of 24option broker. This account type includes same trading instruments and features, which can be seen in Platinum account. Addition to this list are Juventus tickets if traders qualify for them and one special option; customized trading platform.
This is an excellent opportunity for South African traders who want to adjust the platform to satisfy their needs and meets standards in order to have more successful trades.
24option Customer Support
To have a good and up to date customer support is important when trading online.
After writing 24option review, we believe that traders from South Africa will be happy to know there are multiple ways on how to contact 24option. First of all, we would like to emphasize how 24option platform is available on many different countries for their traders around the world.
This includes English, Spanish, French, German, Russian, Italian, Danish, Swedish, Finnish, Japanese, Korean, Romanian, Portuguese, Arabic, Turkish and Indonesian.
Traders can reach 24option agents through email on [email protected] , live chat and via telephone for 21 countries worldwide, including South Africa on +27 10 500 8042.
Customer support agents are available 24/7 and we had a positive experience with provided feedback during our 24option review.
24option Banking Info
Main goal of 24option review is to provide South African traders the opportunity to expand their trading experience within a fast trading, regulatory environment.
Security is very important in trading process because it ensure traders to have a safe trading experience, especially visible during depositing or withdrawing money.
24option offers traders many available payment options, including debit and credit card payment, bank wire and e-wallets.
Available cards that can be used when depositing and withdrawing funds are: Visa, Visa Electron, Mastercard, Dankort, Diners Club, JCB, Discover Card, Cartasi, Liberty Reserve and Laser. From e-wallets, available payment providers are Skrill Moneybookers and Neteller.
The latest announcement arrived from PaySafe Group, who own PaSafe Card as an alternative payment method. In March 2020, they decided to join FTSE 250 Index and expand their investor net more and continue to provide services to traders in South Africa who use PaySafe Card as a way to deposit or withdraw funds.
Before money withdrawal, certain documents should be submitted. That includes proof of address, copy of photo ID and a copy of credit card, if it is used in the trading process (only last 4 digits visible).
It takes up to 5 business days until the money is visible on the trader’s account.
Minimum withdrawal is $250 and traders should know that the same currency chosen in deposit process, has to remain the same in the withdrawal process also. When withdrawing funds, 24option charges fees and amount depends whether traders use credit cards (3.5%), Skrill Moneybookers (2%) and bank wire ($30).
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