Today there are several brokers to start an immersion in the financial markets. If you are reading this article you are probably interested in 24Option or have even searched the web for some options since ordering as '24Option reviews' or checking '24Option.com'.
In this article you will find everything related to this broker called 24Option and what are its main features that make it one of the most attractive platforms for investing in the financial markets this 2020.
The 24Option broker offers several different products and has several particular features. We have also analysed each of these in order to produce a description of 24Option that provides you with clarity about this broker option. Let's start with our review.
24 Option Review: Introduction
24option is a broker that was created in 2008. Starting out as a binary options broker, 24Option is now a leading brand in CFD and Forex; owned by Rodeler Ltd. The company's head office is in Cyprus and its official website is www.24option.com.
For investors outside the EEA (European Economic Area), 24Option's clients do business through a separate company called Richfield Capital Limited based in Belize.
In the past, the main product offered was binary options. However, 24Option has recently begun offering trading in CFDs, commodities, indices, forex, and many others; increasing its competitiveness and expanding its portfolio of options for all. All of these instruments that were added to 24Option also allowed it to develop its own platform for trading the markets.
24Option: Key points
|Minimum deposit||USD 250|
|Minimum operation||From 0.1 lots|
|Mobile application||iOS, Android and Windows|
|Financial instruments||Forex, Shares, Commodities, Indices, Crypt CFDs and Core Assets|
24Option's regulations show us that they are a responsible and reliable company. The move away from the binary sector was designed to maintain their reputation.
In terms of regulatory supervision, 24Option is regulated by 2 agencies. For operations within Europe, 24Option is regulated by the Cyprus Securities and Exchange Commission (CySEC).
On the other hand, for operations outside Europe, 24Option is under the jurisdiction of the Belize International Financial Services Commission. Authorisation is issued to Richfield Capital Limited under the IFSC registration number IFSC / 60/440 / TS / 15-16.
Clearly this is a serious company, which is a very common question to ask when seeking 24Option opinions.
As you may already know, bonds are the capital that brokers offer to help investors leverage. 24Option can offer you a bond of up to 50% of the value of your investment when you start trading.
Please note that some countries and at certain times of the year there may be different policies regarding the bonds offered by 24Option. This is common in various brokers around the world.
24Option Investment Platform
24Option offers an easy-to-use platform for quick and easy investments, as well as a mobile application. Investors can choose between various types of transactions and assets.
Returns will vary according to the performance of the underlying assets, but the platform has low margins, which means competitive trading costs. Forex and CFD payments are completely dependent on the movement of the underlying asset, as with any other broker.
The trading zone is clearly defined. Investors can select the underlying asset they want to trade, either directly from the list or by filtering the screen to the desired class or category, through a drop-down menu. All quite interactive and user friendly.
The trading window is always visible, next to the list, and will be updated as soon as a different stock or underlying asset is selected. The price chart in the trading window can be expanded to allow more detailed analysis of the price action.
From your computer desktop
Like most other brokers, 24Option allows users to download and use the MetaTrader 4 (MT4) platform.
This platform is an industry standard and allows for advanced charting and analysis. Investors who do not wish to use this trading software can also use 24Option's desktop platform, which is better than the industry average. For example, the desktop platform has transparent and customizable price lists to facilitate trading and execution. It allows for advanced charting with an "indicator wizard" that allows traders to create custom charts. It is also possible for traders to create a watch list by simply clicking on the star next to any currency pair. This pair will then appear in a list of favourites.
Having a desktop platform for the computer is a huge advantage of trading on 24Option, not only is it stylish but also easy and simple to use, even for beginners.
Traders can also leave conditional orders and have stop-loss and take-profit trading options that allow for hedging. Finally, unlike some brokers, 24Option displays the positioning of other clients, so traders know how other traders (bullish or bearish) feel about any instrument.
Investments from your mobile phone
24option provides a free mobile investment application for iOS (iPhone and iPad) and Android. The applications are available for download from both the Apple App Store and Google Play Store. The application offers all the features of the main website, including many account management features. The application leverages the strengths of each platform (Android or iOS) to maximize functionality on each device.
The application is simple and intuitive to use. The login process is fast and secure. Technical analysis becomes difficult on smaller screens, but trading and modification details are simple and a real advantage for operators who need to react to events while away from their computer, very valuable in the investment world.
The 24Option broker has no fees, commission or deposit financing, unlike other brokers. They are also beginning to develop new plans for lower minimum income options.
Trading volume fees vary depending on accounts and there are some fees for inactive accounts, however with all the benefits that a broker provides it is unlikely that you will leave your account inactive. Additionally there are some fees on withdrawals but these are fair and low.
Types of accounts in 24Option
24Option also offers users four different account types with account minimums ranging from USD 250 at the low end to higher amounts which we will review.
The general offer and rates are better for higher level account types. Therefore, some are more suitable for high volume trading, while others provide a certain level of investment flexibility.
24Option demo account
It is always important to mention that 24Option has the option of a demo account if you are a beginner. This type of account is nothing more than a simulator with completely real data of what happens in the financial markets, where you can trade without risking your money, since the capital used in these accounts is not that of your real investment. A very good option to start practicing.
The best option for new operators, as well as for those who want to try out 24Option, is probably the basic account. The minimum balance required is USD 250 and you have access to some educational materials.
Basic users get a free lesson to guide them through the trading process. Basic account users also get a very good demo account with USD 100,000 to test the platform (the demo accounts mentioned above are available with all account types). This account type also includes daily news and a free withdrawal.
With this type of account the trading price is better with the Gold account than with the Basic account. Users also receive two Basic lessons and a monthly webinar. Both materials are of great value for the information they have. The minimum deposit is USD 5,000 and users can make one free monthly withdrawal.
The Platinum option requires a deposit of USD 10,000 and offers the same benefits as the previous account types, but with improvements. The price is better and users receive three advanced lessons and two webinars per month. The lessons are really great for becoming a big investor. Clients can also make three free monthly withdrawals from their Platinum accounts.
The educational aspect of 24Option is one of the best known features of this broker, which has a complete offer of high-quality educational resources. Its website has articles on topics such as daily market analysis and technical analysis, which can even be viewed for free.
There are free web seminars, as well as those that you can only get as a member of 24Option. Members also have access to excellent video lessons, technical analysis, fundamental analysis, economic calendar, among many other options. These lessons explain basic and advanced concepts such as the basics of CFD trading, pip calculation, risk management, different types of analysis, etc.
There is also content focused solely on forex trading for beginners, including a financial markets glossary or the markets news section. All in all, 24Option has exceptional educational resources, valuable for beginners as well as intermediate and advanced investors.
Users, as well as potential users, can communicate with 24Option by phone, email and live chat. The company's customer service is one of its main features due to its availability and excellent service.
It is also possible to communicate with customer service representatives 24 hours a day from Monday to Friday, but the live chat only works during business hours. In general, customer service is competent and willing to help 24Option users.
Even when using the live chat, you can get an answer in 20-30 seconds and have all your questions answered, that's how efficient the service is. The speed and competence of the customer service representatives is truly commendable.
24Option has changed a lot in recent years as they stopped offering binary options, which were once their focus. There is a wide range in currency pairs and now, the company offers a wide spectrum of cryptosystems pairs such as BTC / GBP, BTC / EUR, BTC / USD, etc.
The currency pairs that 24Option offers are quite competitive, its offering is wide and strategic. Regarding commodities, currencies or spreads, indices, crypto CFDs, and all of its instruments 24Option also has an important range of options. The options to choose from are immense.
Withdrawals and deposits
For financing and withdrawal of funds in 24Option, there is a huge variety of methods you can use. Supported methods include VISA, Mastercard, Discover, HelpPay, AstroPay, JCB, Skrill, Neteller and bank transfer. The options are very varied and are expanding all the time.
After this description and analysis of 24Option, you can see that it is a broker with years of experience, safe and reliable, and that it gives you great competitive advantages over other brokers.
24Option has many advantages such as education, customer service, trading instruments and its user-friendly platforms. As you progress as an investor you can leverage all the features that the broker offers and enhance your career as an investor in the financial markets.