First launched in 2008, 24Option is one of the more established binary options brokers in the marketplace. It is a well respected broker and offers a complete solution for all levels of trader.
A great deal of emphasis is applied on customer service. Full multilingual support is offered to global clients. 24/7 dealing is provided on the highly specified and respected Techfinancials binary trading platform.
This broker keeps things simple yet continues to innovate. A wide selection of contract expiry times together with a comprehensive selection of assets, make this a top choice of broker.
Telephone: Cyprus +357-25-030600 (Int), UK +44 161 960 0200, +Int
Trading Platform: Techfinancials
Demo Account: Yes
Minimum Opening Deposit: 250 USD
Minimum Trade Amount: $24
Profitability / Rebate: Up to 88% / NA
Account Holding Currency: USD, EUR, GBP, JPY, CHF, RUB
Accepts US Traders: No
The 24option binary options trading solution lets you enjoy industry leading returns of up to 88% on a standard Call/ Put option. As well as being able to trade directly from the web based trading platform you can also make use of an optimized mobile site to carry out account management and trading operations while on the move.
In addition to the expected binary trading facilities, a useful feature worth noting is the ability to close out of open contracts early. You can close any option contract from 5 minutes after purchase right up until just prior to the official expiry time. This can be done irrespective of whether your option is ‘in’ or ‘out of the money.’ Consequently you can preserve some capital rather than letting the contract expire worthless.
A range of binary contracts are offered and as a result virtually all key world markets can be traded. These include over ten stock indices and major commodities such as Gold, Silver and Oil. Furthermore you can trade Forex currency pairs and major international stocks.
In addition clients get access to a wide range of useful trading resources which are provided in the Education center. These include a number of online videos, tutorials and an eBook. These are designed for traders of all levels and as a result cover a range of topics related to binary options trading. Noteworthy inclusions are guides on strategy and risk management.
Options Types Offered
- High/Low -The classic ‘Call/Put’ option. You determine whether or not the market will be higher or lower than the current market price upon expiry of the option for up to an 85% return per successful trades.
- Touch/ No Touch -A growing range of ‘touch/ no touch’ bets are on offer. You can potentially earn if the asset does or does not attain the target price set at the time of placing before he expiry of the option (depending on trade)li>
- Boundary – The boundary trade is based upon two 2 target prices (an upper and lower target) which together these form a boundary range. You select whether to finish in or out of the range at expiry.
- 60 Second – 24option offers 60 second contracts. These are available on a variety of different underlying assets during the day.
- High Yield – These provide longer term high yield trading opportunities.
Investors can lose all their capital by trading Binary Options
Trading clients gain access to what is probably one of the best mobile trading platforms. This can be download onto your mobile device so that you can keep up with the markets while on the go.
From the mobile app you can keep a check on your account balance in addition to opening and closing positions.
You can download the 24option app for mobile trading to match your device from either Google Play (Android) or the App Store (iPhone and iPad users).
The company how has five account types are available to clients. These are known as Basic, Silver, Gold, Platinum. and Diamoned. Top level account holders earn an additional 2-4% payout for an ‘in the money’ contract.
The 24Option minimum deposit is $250. While this is not as low as some brokers, most traders will view this as less of an issue to get access to such a top broker.
For this deposit you get access to a Standard level account which provides more than enough features for most traders. Higher level accounts maybe obtained by making a larger initial deposit.
Accounts can be held in either USD, EUR, GBP or JPY. This is a one time choice, hence the account holding currency must be stipulated at the time of opening.
Also note that you can trade up to $200,000 per contract. This is noteworthy as it is one of the highest trading levels around. Almost all brokers will limit the maximum contract size you can deal in.
There are a wide range of deposit methods available for funding your account. These include Credit/Debit Card, Bank Wire transfer and almost all of the major electronic payment processors. These include UKash, CashU, Liberty Reserve, Skrill, Neteller, Astro Pay, Sofort, Giropay and Western Union.
Deposits into your account are instant for most methods. The exception is Bank Wire Transfer whereby deposits can take up to 5 working days. As a result most traders will choose to get money sent back to their card.
Withdrawals are generally dealt with promptly and are subject to standard industry processing times.
Basic and Silver account holders get their first withdrawal free. Gold and Platinum traders get one free withdrawal per month. Additional withdrawals beyond those specificed attract a fee. This is dependent upon the withdrawal method specified.
Withdrawals for Diamond account holders are always free.
International traders are very well catered for with both the website and ongoing trading support available in ten different languages. In addition to English, visitors to the website can view it in Japanese, French, Italian, Spanish, Turkish, Indonesian, Arabic, Romanian and Portuguese.
The best way for traders to contact 24Option customer services in the first instance is by live Internet chat. Email and telephone contact methods are also offered. Eleven dedicated International telephone support lines are provided so traders of different languages can be reassured. These offer a direct dial to regional account managers who can resolve issues.
You would expect a lot from this award wining broker and hence the 24Option deposit bonus is one of the best around. A wide range of bonuses and tiered promotions are available. These are available to both new and existing trading clients.
Typically new traders can earn up to a 100% first deposit bonus at account opening (Terms and Conditions apply). The exact amount will depend upon the level of first deposit made. Furthermore from time to time, non ‘cash ‘ bonuses are offered by the company. An example here is the Technology bonus offered by the broker. This was so called because new depositors could earn an iPad.
The terms and conditions for each offer vary, therefore it is important to check for the latest promotions when registering your account.
FTSE100, DAX30, Dow Jones, NASDAQ, IBEX-35, CAC 40, S&P500, Nikkei 225, SMI Future, MIB-40 Future, Nifty Future, ASX 200 Future, Hang Seng Future
EUR/USD, GBP/USD, USD/JPY, GBP/JPY, GBP/EUR, EUR/GBP, AUD/USD, USD/CAD, EUR/TRY, USD/CHF, USD/TRY
Gold, Silver, Oil
Amazon, Amex, Apple, AXA, Baidu, Barclays, BNP Paribas, BP, Citigroup, Coca Cola, Exxon, Facebook, Fiat, France Telecom, Google, ICICI Bank, JP Morgan Chase, McDonalds, Nike, Societe General, Sony, Tata Motors, Vodafone
24Option Review Verdict
- 24option is well established with a solid platform and excellent international support
- A wide range of frequent contract expiry times (60 seconds, 15mins, 30mins, hourly)
- The Touch/No Touch and Boundary contracts can make for some great trading strategies
- A fairly limited range of stocks to trade could prove restrictive depending on your strategies