24option Review

24option Review24option’s headquarters are located in Cyprus. It is a well established binary options brokerage firm that have earned itself a great admiration from many binary options traders due to its excellent and consistent services.

It was formerly managed by CBAY Financials, but as of late 2015, the management changed to Rodeler Ltd.

It is a regulated binary options broker, by the Cyprus Securities Exchange Commission (CYSEC) and its license number is 207/13.

Since its founding, 24option binary options broker has been awarded severally by the FX Empire. Some of the awards that 24option has received include: Best Binary Options Broker 2014 award, Best Binary Options Broker 2015 award and Most Innovative Broker 2015 award.

Basic information:

Online since: 2010
Jurisdiction: Cyprus
Max Returns: 89%
Bonus: 100%
Minimum Deposit: $250
Minimum Investment: $24
Maximum Investment: $50000
Currencies: USD, EUR, GBP, Yen, RUB
Mobile: Yes
Countries: All nations excl. USA & Australia

Pros:

– Fast and easy withdrawals (in as little as one hour)
– Accepts many different types of payments including Paypal
– Low initial investments for trading
– Extensive trading options
– Multiple account options
– Available in multiple languages

Cons:

– Access to Demo requires an account with a paid deposit

Binary Minery Rating:

5 stars

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24option binary options trading account types

24option offers two main trading account types; the demo trading account and the real trading account.

The demo trading account is mainly designed for binary options trading beginners as well as for experienced traders who wish to test their trading strategies before using them to trade in the real account.

However, the demo account is only accessible to those who have already opened a real account and deposited $250.

There are five different types of real trading accounts and each has its unique features that suit certain group of binary options traders. Below is a closer look at the 5 real account types.

  1. Basic account

Traders opening this type of an account are guaranteed a payout of up to 82%. It also offers one withdrawal per month that is free from any fees.

Trading is central and the traders are offered customer support.

  1. Silver account

In addition to all the benefits offered in the basic account, this account also entitles options traders to receiving trading alerts and a personal coach.

  1. Gold account

Traders opening this account type benefit from all the benefits of the silver account and in addition, they are also entitled to a payout of up to 84%, receiving email and SMS alerts and an opportunity to use expert advisers in live trading.

  1. Platinum account

In addition to all the benefits of the gold account, traders with this type of an account are also entitled to a payout of up to 86%, fully free cash withdrawals to the bank, session of financial expert, provision of a research website, an opportunity to trade forex and higher trading limits.

  1. Diamond account

On top of all the platinum account benefits, traders who open this type of account are also entitled to a payout of up 88% and a chance to acquire a customized platform.

Rewards and bonus offered by 24option broker

24option broker offers a variety of cash prices and bonuses.  These bonuses can be grouped into four categories which are:

  1. Cash Bonus

This bonus is given upon every deposit that a trader makes.

Depending on the amount and account type, there are other special terms and conditions that may apply to this cash bonus. The trader should therefore be very careful when accepting this bonus and ensure that he or she has gone through all the terms and conditions.

  1. Technology bonus I

This is a kind of a reward, where a trader is given a free ipad, if he or she makes a minimum deposit of 10,000 dollars and has a trading volume of 50,000 dollars.

  1. Technology Bonus II

This is also a kind of a reward, where a trader is given a free MacBook, if he or she makes a minimum deposit of 20,000 dollars and has a trading volume of 100,000 dollars.

  1. $24 New Account Bonus

This bonus is only available for traders using the 24option mobile application. Also, before claiming this bonus, the account has to be verified and the trader has to make a deposit within one hour from when he or she registered the account.

24option trading software

24option provides traders with two types of trading platforms. These are the Pix2 trading platform and the 24option mobile app which is designed for mobile phone devices and it is free to download.

The Pix2 trading platform and 24option mobile app are trading softwares offered by the Tech Financials and they are different from the normal trading platforms like Tradologic which are used by other binary options traders.

Also, for the binary options traders who use their phones, there is a secondary website made for mobile phone devices so as to ensure that traders can access their trading accounts from wherever they are and make trades without having to sit infront of a computer.

Features of the Tech Financials trading software:

  1. It allows four types of trading options which are: boundary binaries, one touch binaries, classic binaries and short term binaries.
  2. It offers a variety of durations for the expiry of the binary options trades. Some of the expiry duration options included are 30 seconds, 2 minutes, 5 minutes, 15 minutes, 30 minutes, 1 hour, 24 hours and end of month.3
  3. It allows the trading of all the assets listed.
  4. It allows mobile trading.

Screenshot

24Option Review

Types of Binary Options Trading Contracts

24option offers four different types of trades to its binary options traders. Each of the options has a different payout percentage.

These options are:

  1. Boundary binaries

This type of a binary trading contract includes a standard yield boundary option and a high yield boundary option.

The Payout Percentage of the boundary options ranges from 65 to 70%.

  1. Classic binaries

This type of binary options trading contract consists of above and below options as well as high and low options.

The payout percentage of the high and low options range from 70 to 85% while the payout percentage for the above and below options ranges from 220 to 360%.

  1. Short term binaries

This type of binary options trading contract consists of binaries with short expiry durations that range from thirty seconds to five minutes.

The payout percentage of this type of option ranges from 70 to 85%.

  1. One touch binaries

This type of binary options trading contract consists of Touch binaries, No Touch binaries as well as high yield binaries.

The payout percentage of the Touch and No Touch options range from 70 to 77% while the payout percentage of the high yield  binaries range from 200 to 350%.

Withdrawal and depositing options

24option binary option traders have a variety of options for withdrawing and depositing money from and into their 24option wallets respectively. The allowed options of transacting money in 24option are:  JCB,MasterCard, Skrill Moneybookers, Dankort, Visa Card, Bank Wire, Discover Card, Diners Club, Cartasi, Liberty Reserve, Visa Electron Dankort ans Laser.

The process of depositing money takes 24 hours since the deposits are manually approved. The minimum deposit amount is $250.

The withdrawal process will depend on the type of acount you open. Withdrawal is free for the gold and platinum accounts. The rest of the accounts have a processing fee which is different for different options of transacting money. For those who use the Liberty Reserve, the processing fee is 1%. For the Moneybookers the processing fee is 2%. For the Credit cards the processing fee us 3.5% and for the Bank Wire option the processing fee is $30.

For the bank wire, the minimum withdrawal amount is $1000.

Also, 24options doesn’t allow deposits and withdrawals from residents of United States and Australia.

Assets list

In 24option, binary options traders have a wide range of trading assets to choose from. The assets range from currency pairs, commodities, indices to stocks.

Below is a comprehensive list of the assets:

  1. Currencies

The currencies are mainly in pairs. Some of the most traded currencies are: Australian dollar, Japanese Yen, US dollar, European pound, Great Britain pound, Canadian dollar, New Zealand dollar and Swiss Franc among many others like the RUB.

  1. Commodities

The commodities offered by 24option include: coffee, oil, sugar, XAU/EUR, gold, copper, XAU/JPY, platinum, corn, silver and XAU/XAG.

  1. Indices

The indices offered by 24option are: ASX 200 Future, Hang Seng Future, IBEX-35,CAC 40 Future, MIB-40 FUTURE, FTSE-100, DAX-30, Bombay 30 and Dow Jones.

  1. Stocks

Some of he most traded stocks in 24option are: BEIERSDORF, COCA-COLA, BMW, FACEBOOK, MICROSOFT, GOOGLE, IBM, SONY, FRANCE TELECOM, TWITTER and NIKE among many others.

Customer service

24options offers customer services to its traders regardless of the type of account that the trader holds.

It offers its customer services via live chats and emails.

To date, 24option broker has spread to various countries, prompting it to offers its customer services in a a variety of languages which include: English, Spanish, French, German, Italian, Danish, Swedish, Russian, Japanese, Arabic, Romanian, Korean, Finnish, Indonesian, Turkish and Portuguese. However, 24option broker doesn’t allow traders from United States and Australia.

24option also has a special academy for the beginners who want to learn how to trade.

Conclusion

In conclusion, 24opion is a proven binary options broker whose services are non-questionable.

The traders only have to be careful with their trading strategies so that they can be guaranteed of good payouts.

The other thing that 24option traders have to be cautious about, are the various bonuses offered by 24option. Before accepting any kind of a bonus, the trader has to understand all the strings that are attached to that bonus. So, the trader should read all the terms and conditions of a bonus before accepting one. Failure to do this will result to frustrations since things may not work out as the trader had planned.

Additional information

Customer Service: Live Chat / Email: info@24option.com
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
Assets: Currencies, Stocks, Indices, Commodities
Expiry Times:  30 sec, 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

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24Option Articles:

References and Further Reading:

  1. Storage Exchange:A Global Trading Platform for Storage Services (Martin Placek)
  2. Does Algorithmic Trading Increase Volatility? Empirical Evidence from the Fully-Electronic Trading Platform Xetra (Sven Groth)
  3. Trading strategies in the overnight money market: Correlations and clustering on the e-MID trading platform (Daniel Fricke)
  4. Does futures trading destabilize cash prices? Evidence for U. S. live beef cattle (Robert Weaver)
  5. Autonomous Forex Trading Agents (Rui Barbosa)
  6. Online service quality dimensions and their relationships with satisfaction: A content analysis of customer reviews of securities brokerage services
  7. Measuring Switching Costs and the Determinants of Customer Retention in Internet-Enabled Businesses: A Study of the Online Brokerage Industry (Pei-Yu)
  8. Binary trading relations and the limits of EDI standards: the Procrustean bed of standards (Pei – Yu)
  9. Efficiency and Robustness of Binary Feedback Mechanisms in Trading Environments with Moral Hazard (Dellarocas)
  10. Services Marketing : Integrating Customer Focus Across the Firm (Wilson)
  11. Improving the Investments Course  with a Securities Trading Game (Donald Fischer)
  12. Commodities and Capabilities (Sen. Amartya)
  13. Interpreting Objects and Collections (Susan Pearce)
  14. Optimal Pricing and Return Policies for Perishable Commodities (Barry Alan)
  15. Intra-industry trade in identical commodities (James Brander)
  16. Industrial Minerals & Rocks: Commodities, Markets, and Uses
  17. Recent Inflationary Trends in World Commodities Markets (Jessika Kogel)
  18. Federal Regulation of Bank Activities in the Commodities Markets (David Gilberg)
  19. Rational speculative bubbles and commodities markets: application of duration dependence test (Riza Emekter)
  20. The Theory of Hedging and Speculation in Commodity Futures (Leland Johnson)
Binary Minery Review: 24option: 5 stars.