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24Option Review

24Option, founded in 2010, is a binary options broker located in Limassol, Cyprus. Formerly owned and managed by CBAY Financials, 24Option today is under the management of a different holding company called Rodeler Ltd since late last year. The broker is still is regulated by CySec.

24Option recently changed its website but has maintained its classic black and gold look. This regal appearance is representative of the high standards of trading at 24Option and gives the trader a sense of obligation and trust. 24Option offers cash prizes running into thousands of dollars for their monthly trading competitions.

24Option HomePage

24Option HomePage

Features

Unlike most other brokers, the 24Option website has few tabs. In fact, there are only three tabs at the top of the landing page—Trade, Open Account and Guide. Much of the information I sought while doing this 24Option review I found in the Guide section which was in a question and answer FAQ format.

There seems to be just one standard account at 24Option as no information was provided about a choice of different accounts to select. At 24Option, making the right trading decision is important. Trading begins on the main platform trading page where traders can choose between four different types of options to trade: High/Low, One Touch, Boundary and 60 Seconds.

The High/Low option is the classic binary option trading instrument, where traders must judge whether a price on an option will go high or low. The One Touch option allows the trader to profit from an option if it reaches its target price at any given moment, within its timeframe. The Boundary option is based on judging whether an option will reach a certain price range or not. And the 60 Seconds instrument is basically the classic High/Low option with a 60 second time-frame.

Once a trader has chosen an option a trading window will open. Prices are automatically displayed in the trading window when “in the money” or “out of the money.” The “I” button on the top right corner of the window posts updated financial news regarding then chosen option.

24Option offers beginner traders a demo account which is not always available from other brokers. The demo account here requires a deposit of $250. Their unique ‘buyback’ option gives traders an opportunity to ‘cancel’ their trade up to 5 minutes before expiry so they don’t lose the bid. Not all the money is returned, however.

There is a range of bonuses and promotions such as a free signals package at sign-up. Payouts can reach as high as 85%.

Through their Education Center, traders can participate in a variety of features such as e-books, free e-courses, live webinars and a large selection of instructional videos. Customer support is offered in 16 different languages and there is also personalized contact available through chat.

Platforms

24option uses a straightforward trading platform which is easy to use. Plus and minus buttons are available for a quick trade execution. The choice of assets is in drop-down form and includes a wide range of currencies, indices, commodities and stocks.

Additionally, 24option offers multiple views of its trading platform so that traders can select the one they find the easiest. Five options are available with an accompanying explanation of each one, as well as textual descriptions of each one.

AdvantagesDisadvantages
Customer support in 16 languagesOnly one standard account
Payouts as high as 85%Limited upfront information
24Option Review, 5.0 out of 5 based on 1 rating
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