24option: Review, Analysis and Complete Guide
24Option is a secure online trading broker for trading CFDs (contracts for difference) with various assets (underlyings) from a small deposit of money and using leverage in the Forex market.
In the following sections we will refer to the different financial products that 24option offers, how to trade, their security, the payment methods it offers, their regulation, the operations with Bitcoin and other cryptom currencies, the alternatives offered by the Forex market and the users’ opinions.
We invite you to analyze all these characteristics that will allow you to make the best choice when investing your money.
Pros and Cons of 24option
- Regulated broker.
- Excellent opinions.
- More than 100 underlying assets to trade.
- Minimum deposit of 100 euros.
- Excellent platform and mobile app for Android and iOS.
- Crypto currency trading: Bitcoin, Ethereum and others.
- Payment options not very accessible at first sight.
- Not supported by PayPal.
24option Financial Products
As we said before, 24option is a secure broker specialized in CFD trading that allows trading with several assets (underlyings) by means of a small deposit of money and using leverage. Users’ opinions highlight the variety of options, especially the possibility of trading Bitcoins and other crypto currencies.
Below we will detail the values you can invest in with 24option:
Stocks and financial products
- Actions: There are more than 300 actions available in 24option, both national and international. We will mention some of the most important ones: Google, Amazon, Chevron, Netflix, Sony, Toyota, Nokia, Visa, BBVA, HSBC, L’oréal, Nike, etc.
- Currencies (Forex market): in 24option it is possible to trade more than 45 currency pairs, among which we can mention EUR/USD, GBP/USD, USD/JPY, USD/CHF, USD/CAD, AUD/USD, NZD/USD, EUR/GBP, EUR/CHF, EUR/JPY, AUD/CHF, AUD/CAD, AUD/JPY, AUD/NZD, CHF/JPY, etc.
- Commodities: 24option offers the possibility to trade the following commodities: silver, gold, cotton, wheat, coffee, oil, natural gas, platinum, copper, among others.
- Indices: these are the indices you can trade with in 24option: Tadawul, Usage, Uco, Ta35, Nikkei 225, Dow Jones, Nasdaq 100, S&P 500, Dax 30, FTSE 100, MIB, Euro Stoxx 50, ASX 200, JSE TOP 40, Ice USD, H-Shares, HAN SENG, NIFTY, CAC 40, IBEX 35 and VOL.SP500.
As a leading online CFD broker, 24option was one of the first to offer CFD trading on crypto-currencies such as Bitcoin and Ethereum, among others. It currently offers five of the most popular cryptosystems available for CFD trading.
The value of digital currencies tends to change rapidly and there is no guarantee that the value of cryptosystems will remain stable, therefore it is necessary to be aware of the risk involved when trading CFDs on virtual currencies due to their high volatility.
24option operates with the following crypto currencies:
- Bitcoin – the first popular decentralized digital currency that was created in 2009. Its price has risen sharply since then but it is extremely volatile. Its price is estimated to be seven times more volatile than gold and 18 times more volatile than the dollar. Today it is trading at approximately 8200 euros.
- Ethereum: digital currency also decentralized but has developed an IT platform for its programming functionality. Its value has recently skyrocketed and promises to be vital in the economy for investing in digital currencies. It is currently trading at approximately 175 euros.
- Ripple: is the third most important digital currency in the market after Bitcoin and Ethereum. It is distinguished by its real time settlement system, currency exchange and remittance network. It was adopted by several banks because of the advantages offered by investing in them, including their price. Today it is quoted at approximately 0.18 euros.
- Dash: designed to be used with a two-tier architecture to provide greater security, this cryptomon currency is similar to Bitcoin in some aspects. It has a long-term upward trend. Today it is priced at approximately 65 Euros.
- Litecoin: This digital currency was created as a division of Bitcoin and its nature is similar to Bitcoin’s but it differs by its almost zero payment cost and the speed of its transactions which are four times faster than Bitcoin’s. Today it is trading at approximately 29 Euros.
24option offers four types of trading accounts. All 24option accounts are leveraged up to 1:500. Below we will detail the different account options according to your needs:
- Basic account: 250 euros. Ideal for novices who do not want to invest too much. Provides a daily market report, access to 1 basic lesson, demo account with 10,000 euros of fictitious money. Central trading. Only 1 free balance withdrawal is possible, for all others you pay commission. 2 daily SMS alerts from Trading Central.
- Gold account: 5,000 euros. In addition to the advantages of the basic account there are 2 basic lessons, 1 monthly webinar, daily news. Central trading. Offers the possibility of 1 monthly balance withdrawal. 2 daily SMS alerts from central trading.
- Platinum account: 10,000 Euros. All the advantages of the Gold Account plus 3 basic lessons, 2 monthly webinars, daily news. Central trading. Offers the possibility of 3 monthly balance withdrawals. 4 daily SMS alerts from Trading Central.
- VIP account: 250,000 euros. Offers account manager, 5 advanced lessons, 5 webinars, daily news. Trading Central. Unlimited balance withdrawals, no maintenance fee. 7 daily SMS alerts from Trading Central.
How to Open an Account in 24option
According to many users’ opinions, creating an account at 24option is very easy and it takes only a few minutes to register. Registration for the account is completely free and secure.
You must first log in to 24option’s website. On the top margin of the web page there is a yellow button that says “Sign up“. You enter there and start to register through a form that will ask you for your personal data.
Once your data is uploaded, 24option gives you the option to create a Real account or a Demo account. We suggest creating a Real account with the possibility of starting with the Demo account. If you start with the demo account, you will have to do the whole process again.
Once you enter your first name, last name, email and a phone number, you have to accept 24option’s terms and conditions and press the yellow button that says “Start trading”.
Everything is ready and it is safe to start investing through the 24option platform. You can start with the demo account with 100.000 virtual euros or deposit a minimum of 100 euros and start investing your money.
Requirements and verification
For security reasons, all customers of 24option need to indicate their real name that matches the name indicated on the document confirming the customer’s identity.
As with other Forex brokers, in order to make a withdrawal, identity verification is required. The 24option verification process is an integral part of the regulatory security requirements and is absolutely mandatory. This helps to prevent cases of fraudulent activity. That is why we claim that 24option is safe.
Once the appropriate documents have been submitted to complete withdrawals or deposits, it is not necessary to repeat the process each time you are going to trade or invest. The documents required for the identification process at 24option are as follows:
- National Identity Card with photo
- Proof of residence
- Credit Cards if you used it to deposit funds
The 24option Demo account is the free account offered by this broker once the initial registration has been made. This account is extremely useful to get to know the trading platform well and learn everything you need to invest your money with 24option.
By logging in and choosing to start using the demo account, the system allocates you a virtual 100,000 euros that will allow you to trade all of 24option’s available assets and invest virtually, without any risk or extra cost. You can even simulate trading with Bitcoin or other crypto currencies.
With 24option’s demo account it is not possible to make deposits or withdrawals, but the rest of the platform is fully functional. Generally, new users start using this trial account to learn how to trade correctly, or to try out trading strategies without investing real money.
24option customers can use their accounts worldwide, however, the availability of jurisdictions may depend on the country of residence, so it is always suggested to check the registration page for available jurisdictions.
The entry of 24option in the CySEC makes this broker authorized in all countries of the European Union to conduct online trade under the Passport Act. This also allows you to trade in the broker’s financial assets as a national of any EU country.
However, if you are not from an EU country and you still want to trade with this broker, 24option is registered with the Belize International Financial Services Commission. The appointed organizations allow anyone wishing to trade with this broker to be protected from any problems and makes it totally safe to trade in the Forex market.
How to Use 24option
24option has one of the easiest trading platforms in the online brokerage market. It has several menus that make navigation and trading operations easier, such as deposit, withdrawal, trade, ask for help or move from a real account to a demo one.
trades with MT4 which is the most popular trading platform on the market that can be downloaded from their website for free.
This broker offers 3 types of platforms for trading CFDs on the Forex market: the web version, the Metatrader 4 and the mobile application. According to the opinions of its users all three platforms work really well
First and foremost, you can use the web version, which is the stand-alone application of 24Option on your web portal. It contains the basics and advanced features for any investor and you only need to be registered to use it.
24option also incorporated the MetaTrader 4 platform which can be downloaded for free from its website: according to some opinions, it is the most used by expert investors, as it has very advanced indicators and trading alerts to improve forecasts.
24option has a specific application for mobiles, either with Android or IOS operating system, which can be accessed from both the demo and real accounts. This application is completely secure.
With this mobile platform you can carry out all kinds of opening and closing operations, make deposits or withdrawals, see tutorials, among others. It has general indicators and graphics to make the application light for the phone.
Research and Visualization Tools
24option offers professional graphics and analysis as part of the visualization tools that make the trader’s task easier. User feedback indicates that they are extremely useful in deciding on investments, Bitcoin trading and other trades.
There are six different chart variants and the trading platform also offers a range of tools for technical analysis of the markets. Drawing tools for self-analysis are available through the 24option trading platform. This platform offers all the necessary tools a trader needs.
On the other hand, as mentioned above, you can use the Metatrader 4 platform which offers even more configuration options than 24option’s own web platform.
But what information do these tools give us about the trading functions?
- Technical-professional analysis and stock market news
- Free Forex Market Indicators
- Trade Alerts
- Customizable tools
- Quotes of Bitcoin and other crypto-currencies
Deposits, Withdrawals, Fees and 24option Limits
Deposit Methods and Minimum Deposit
24option accepts a variety of secure banking methods for your deposits, making it easy to perform this transaction. Among them: credit cards, Perfect Money, OKPAY, Astropay, Neteller, PaySafeCard, bank transfers. Not compatible with PayPal.
At 24option it is possible to open an account with a minimum initial deposit of $100. This limit is only slightly higher than what is usually required by other online providers.
As for the 24option withdrawal methods, the same banking methods are applied as for the deposit, i.e. credit cards, Perfect Money, OKPAY, Astropay, Neteller, PaySafeCard, bank transfers. It is also not supported by PayPal. Fees applied range from 2% to 3.5%.
If a withdrawal is requested within business hours, the request is processed the same day. If the request is made outside of business hours, the request is processed the next day. 24option’s payment process is very fast. The only requirement is the validation of the trader’s data, which makes the system secure.
Fees and Commissions
24option’s rates and commissions vary depending on the plan chosen. This gives you the opportunity to choose the plan that best suits your financial situation or your short or long term investment planning.
For VIP account holders, all withdrawals are free of charge. Platinum account holders can make 3 free withdrawals per month. Gold account members can make one free withdrawal per month. Basic account holders can only make 1 free withdrawal.
In the event that the account has not been active for a month or more, 24option may charge a monthly fee for inactivity. There are no fees for making deposits.
Just as we mentioned that there is a minimum deposit amount, 24option also sets a maximum daily deposit amount of 10,000 Euros or 40,000 Euros per month. Deposits can be made in US Dollars, British Pounds, Yen or Euros.
Is 24option Safe?
When we decide to invest with an online provider, the first thing we do is ask ourselves if the platform is safe because we don’t know who is behind it.
But in this case we can say that 24option is a safe company for several reasons. The main reason is that 24option is regulated, that is, it complies with the laws of the European Community and any Latin American country with which it operates. This gives us extra security when investing our capital.
Secondly, when you decide to invest through 24option it is necessary to validate your identity, a fundamental step to be able to retire without any inconvenience. This prevents stolen credit card fraud and prevents anyone from investing for us and withdrawing funds at any time. This makes it even safer.
Finally, it is important to consider the opinions of 24option’s investors over time and this is relevant since opinions reflect that 24option not only complies with regulations, but also has excellent service and easily adapts to changes.
As stated above, 24option is a regulated company. It is registered with the CySEC under license number 207/13 and by the IFSC under registration 60/440/TS/19. This company is managed by Rodeler Limited which is also licensed.
In turn, Rodeler Limited is regulated by the IFSC in Belize. All licenses are available on 24option’s website and make this provider a safe place to operate.
One of the benefits of Forex trading is that anyone can participate with a small initial investment. However, there is a trade-off. The small capital requirements of Forex trading imply leverage when trading.
The scheme used by 24option is by “pip” value which is an important component of profit and loss calculation, and is provided through the platform before opening a Forex position.
24option is financed exclusively by the spreads of the offered assets, i.e. the difference between the purchase and sale price, which can also depend on the volatility of the Forex market. For example, 24option spreads start at 1.1 pips on EUR/USD and can even be reduced further with a higher account level.
24option offers customer service by phone, email and live chat, and is available 24 hours a day, 5 days a week, so there is always someone available to help in different languages.
It is very easy to have instant customer service from 24option. The staff is professionally trained in various topics related to the stock market activity in the Forex market, doubts that may arise with crypto-currencies such as Bitcoin or the security of trading at 24option.
The company also offers additional training for traders, with webinars and tutorials that resolve all kinds of issues quickly, as well as personal account managers.
Opinions from 24option
Feedback on 24option is very good in general and aims to highlight its reliability, the large number of asset options and the quality of the trading platform through which transactions are conducted.
In one of the investor’s opinions, Roberto P. pointed out: “This is the first time I trade in the Forex market and I found it very safe to invest with 24option. I am a novice in the Forex market and trading CFDs has been a good challenge”.
In another opinion, Carlos A. said: “I am very satisfied with 24option. I had no problem creating the account and trading but the most important thing is that when I wanted to withdraw it was easier than expected and the payment was immediate. I even encouraged myself to trade with Bitcoins”.
Finally, Cecilia D. said: “It’s a good option for trading CFDs and I find it attractive that they adapt quickly to Forex market trends. Buying bitcoins was very easy with 24option”
Alternatives and Competitors of 24option
If after reading all the features of 24option you still need to know the opinions about other service options, it is also possible to choose among other brokers. Currently, there are several companies that offer the online broker service.
Here are some reviews from other brokers so you can rate and compare features and opinions:
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First and foremost, we must not lose sight of the fact that all CFD trading is complex, speculative in nature, and involves significant risks and capital losses.
That said, we believe that 24option is a secure broker that offers many benefits and can guide a trader well to make great profits with reasonable risk. It is a serious and competitive broker that offers favorable conditions for the Forex market with a very versatile application software
Benefits are highlighted, especially in the superior plans and customer service. It is a safe provider that suits both those who are new to the stock market and those more experienced in the Forex market.
Among the negative points, the incompatibility with the Paypal payment method for both deposits and withdrawals can be uncomfortable for the trader. Even though the website is very user-friendly, it is difficult to quickly access the payment methods from some positions.
24option Technical and Characteristic Data Sheet
|Countries where it is regulated||27|
|Time to open account||1 day|
|Bank card deposit|
|Deposit with electronic wallet|
|Demo account available?|
|Easy to use platform?|
Frequently Asked Questions about 24option
It is a secure online broker specializing in the distribution of CFDs (Contract for Difference) that can be traded in stocks, commodities, currencies or crypto-currencies. The company has branches all over the world and provides trading support in different languages. It usually has cheap spreads and a professional trading platform.
At 24option opening an account is easy and fast. Only a few steps are needed to access the trading platform. To be able to trade with real money it is essential to verify the identity of the traders, otherwise they will not be able to sell or buy financial products.
The platforms offered include the website’s own, the MetaTrader4 standard and MT4 apps for both smartphones and tablets on iOS and Android.
One of the strongest activities of 24option is that it offers Forex, that is, trading one currency in exchange for another. For example, you can sell euros and buy dollars or vice versa. In this operation you can use leverage, i.e. the possibility to trade with more money than you actually have.
At 24option it is possible to make money by investing in stocks and financial products: stocks, currencies, commodities or indices. You can also invest in crypto currencies such as Bitcoin, Ethereum, Ripple, Dash or Litecoin. The strength of this provider is the trading of CFDs in the Forex market.
The security of the money you invest is also an important point when choosing a good broker. 24option uses regulated and approved payment methods (credit card, Skrill, Neteller, among others) for its clients’ transactions. The company’s funds and traders are also kept strictly separate in different bank accounts. This is why we say that 24option is safe.
This broker is regulated by CySEC under license number 207/13 and IFSC 60/440/TS/19. The broker is managed by Rodeler Limited which is also regulated by IFSC in Belize.