24option Review 2018
24option, offering Contracts for Differences trading has built a strong reputation as a highly recommended broker. It is this reputation and know-how that they bring in to the dynamic world of online trading. Being one of the most advanced companies in the industry, 24option provides its clients with a convenient and user-friendly 24option provides its clients with a convenient web platform as well as access to the MT4 to trade the financial markets.
24option Regulation and Registrations
- The 24option brand (EU) is owned by a Cyprus Investment Firm (CIF) called Rodeler Ltd. Based in Limassol, Cyprus, Rodeler Ltd is under the jurisdiction of the Cyprus Securities Exchange Commission (CySEC) and is licensed and authorized under the CIF license number 207/13. Rodeler Limited offers services within the European Economic Area (excluding Belgium) and Switzerland.
- Under the European Union (EU) “Passporting” rule, the 24option brand is also registered with EU member states.
- Non-EU based clients are serviced by the company called Richfield Capital Ltd, a Belize based company regulated by the Belize International Financial Services Commission (IFSC) under the license number IFSC/60/440/TS/17)
24option Safeguarding of Client’s funds
A key area of concern among most traders is the safeguarding of clients funds when depositing with a broker. As one of the longest surviving brokers around, 24option has earned a solid loyalty base of active traders. In addition, as a result of its regulation by the Cyprus Securities and Exchange Commission, 24option (Rodeler Ltd) should make adequate arrangements to safeguard clients ownership rights which include amongst other, to keep the client’s funds separately identifiable from funds that belong to the broker.
24option CFDs on Forex & Stocks
One of the newest and most exciting developments at 24option is their evolution and expansion into the world of CFD trading. 24option now offers traders access to a whole host of underlying assets to trade CFDs on, using their web-based platform as well as on the MT4. The Web platform opens the gateway for traders to trade CFDs on currency majors & minors, commodities, stocks, indices and cryptocurrencies. Traders can apply orders to their online trades, such as stop loss and take profit. The charts can be viewed in a variety of timeframes with the addition of different chart types and indicators that may be applied. The technology features latest trades and closed positions alongside the list of underlying assets. The platform gives a great user experience due to its clear layout. It makes placing and closing trades a relatively simple procedure.
As one of the most established and well-known brokers around, 24option is a natural choice for traders.
24option Trading Platforms
24option now uses its own proprietary trading Web platform to cater for more product offerings. Now with the in-house management of the trading platform, 24option will be able to roll out updates, add new features faster and more effectively.
Although the new platform is different from the TechFinancials powered trading platform, there are still similarities which traders will recognize. When initializing the new trading platform, the first thing that traders will notice is the black background of the platform and brightly lettered buttons.
In addition, the trade execution buttons are labeled as “Sell” and “Buy” instead of “Call” and “Put” like what most brokers are doing. This is done by 24option so as to avoid any confusion when trading. Just by looking at the colors of the numbers on the buttons, a trader will know if the price is going up (Green) or going down (Red). With 24option’s trading platform, a trader can also switch between a line candlesticks chart, and an ohlc chart, depending on their preferences. Since its introduction, the Web platform has constantly been improved to provide traders with required trading tools. The easy to use interface and charts allow 24option’s traders to examine any underlying asset in greater detail.
These additional product offerings are all available for trading with 24option’s MetaTrader 4 (MT4) trading platform which the traders can download and install onto their computers.
With this industry-proven MT4 trading platform, 24option’s traders now have access to dozens of technical indicators and a comprehensive charting package which further enhances their trading abilities.
To accommodate traders who want to trade the markets using their smartphones or mobile devices, 24option has also provided mobile trading apps that are optimized for iOS and Android powered devices. These apps can be downloaded at Google’s Play Store or Apple’s App Store. Additionally the MT4 platform has a mobile version which offers traders the ability to use most of the MT4 functionality while on the go. This includes seeing live streaming rates, placing orders and staying abreast of your trading history and open positions.
24option Account Types
To cater for their diverse range of financial instruments and clientele base, 24option is providing 5 different types of trading accounts for their traders to choose from.
For more information on the 5 trading accounts please click here.
24option Trade Types and Instruments
The range of underlying assets that are available for trading at 24option is extensive. Current underlying assets include around 17 commodities, 22 indices, more than 40 forex pairs and more than 100 stocks.
24option Deposits & Withdrawals Options
Funding of trading accounts at 24option is easy and hassle-free. To accommodate the requirements of trading from different countries, 24option has provided several methods which a trader can use to fund his trading account. To deposit funds, the following methods may currently be used*:
- Credit/Debit Cards
- Wire Transfer
*Please contact the broker for up to date information on depositing methods and minimum deposit requirements.
Withdrawals at 24option are straightforward with minimal hassle. Traders are first required to verify their account. The verification process includes submitting the necessary documentation.
As for the methods of withdrawal, it is usually done through the same way as to how the deposit was initially made. For example, if a trader initially funded his trading account with his credit card, his withdrawal will also be executed through his credit card up to the amount that was deposited. The excess balance of the withdrawn amount will then be transferred to the trader’s bank account through bank wire transfer. The timeframe for the entire withdrawal process is processed without undue delays.
For Platinum and Diamond accounts, there is no withdrawal fee applicable. For other accounts, the account holders are entitled to one free withdrawal per month. Subsequent withdrawals within the same calendar month will be subjected to a variable fee.
To get the most updated deposit and withdrawals terms and conditions, click here.
24option Customer Support
To support an international clientele base, 24option website fully supports different languages such as German, Russian, Arabic, Polish, French, Italian, Spanish and Portuguese. The support services are available 24/5and there are 4 ways which traders can contact the support team should they require any assistance. Supported channels of communication with the support team include:
- Web Contact Form
- Live Chat
24option Pros & Cons
- Regulated Broker
- Choices of Trading Accounts
- Localized Telephone Support
- Multilingual Support
- Web platform and MT4
- Wide range of underlying assets
- No support for ECN Trading
Is 24option (Rodeler Ltd) regulated?
Yes. 24option (Rodeler Ltd) is regulated by CySEC in Cyprus. This allows the company to offer its services within the European Economic Area (excluding Belgium) and Switzerland. 24option (Richfield Capital Ltd) is regulated by the Belize IFSC, this allows trading outside of the Eurozone.
How safe is my information shared with 24option – Is 24option a scam?
The broker maintains SSL security which adds a layer of encryption to protect the integrity of personal details and bank details. In addition, being regulated help to ensure traders that their funds are segregated from the broker funds. Furthermore, as a regulated broker 24option must have enough capitalization to cover their exposure levels.
Where is 24option (Rodeler Ltd) based?
24options headquarters is located in Limassol, Cyprus. In addition, the company currently has a tied agent in Germany Rodeler De GmbH and representative offices in Ireland and Netherlands.
How to open an account with 24option?
To open an account at 24option, first, read the legal documents, the key investor information documents and fill in the registration form and submit it.
Next, make an initial deposit with any of the available methods. Once the deposit has been posted to the trading account, you can begin trading immediately.
Does 24option use MetaTrader?
Yes. The MetaTrader 4 trading platform is available for 24option traders. It can be used as a download version, as a webtrader or through mobile. With the industry-leading MT4 trading platform, traders have access to technical indicators and a comprehensive charting package which further enhances their trading abilities.
What is 24option’s leverage?
The leverage provided by 24option is up to 1:400* and set by a specific instrument. 24option leverage is competitive compared to other brokers in the industry.
*Contact 24option. Leverage restrictions apply.
24option, with the recent addition of products and services, has shown itself to be a proactive broker. The fact that they have been around since 2009 also demonstrates that they are a popular broker. So if you are looking to trade CFDs with a popular and reputable broker, 24option is a good option.
|Number Of Employees||200|
Trading Account Options
24option Trading Features
|24 Hours Support||Yes|
|Support During Weekends||No|
Customer Support Languages
|Supported Trading Platforms||MT4|
|Guaranteed Limit Orders||Yes|
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