24Option Review
24Option Review
November 22, 201224Option is probably one of the best binary options brokers available online today for serious traders wanting to make money. Originally founded by Yaymay Investments Limited (a Cyprus-based firm), it is owned and managed by a professionals from the Forex and Stock Market industry.
Language Support
24Option has a highly skilled staff offering support in English, French, German, Italian, Arabic, Japanese, Spanish, and more.
Demo Account
Registering a demo account is very easy. Simply select any asset on the user interface and enter the sum of money you want to invest. Select high or low, and enter a sum. The return or profit (payout) will be displayed automatically. It is a great way to practice trading and get a feel for the platform.
The Offering/Welcome Bonus
24Option offers a cash back bonus of up to 50% on your initial purchase.
For example, deposit $2,000, get a $1,000 cash back bonus. The payout stands at an impressive 85% on average.
Withdrawal Times
The withdrawals were lightning fast after I sent all my documentation. It took them 48 hours (2 business days) to send the wire transfer.
Trading Volume Requirements:
You must trade your original deposit 40 times to qualify
Cash Back bonus must be traded a minimum of 30 times in order to cash it out.
*To read more about how bonuses work in binary options click Here.
24Option Trading Tutorial
First of all register and open a trading account. Then continue to the cashier section of the software and proceed to deposit.
The Minimum deposit is $250 (US Traders $500). Traders are welcome to deposit using their Visa, MasterCard or Via bank wire transfers. Your account balance must be sufficient to cover all your open positions at all times, otherwise you will not be able to execute trades.
Strong Points / Advantages
I found this platform to be very one of the most professional available today. If you are trading Forex on 24Option you will probably want to read up on financial developments and news such as the fiscal cliff and/or the Non Farm Payrolls report before you invest. The little red arrow in screenshot A allows you to view financial news updates directly in the trading box. I found this feature particularly useful and practical as it allows you to gain insights and make split-second decisions without having to change tabs or browsers.
Screenshot A
Special Features:
The Trading Window is divided into three main sections:
- Trade Box – upper part of screen
- My Open Trades – lower right side
- Option List – Lower left side corner
The option list section contains the directory of available assets. Assets are categorized according to user preference and/or previous trading activity.
You can use scroll down filter option found at the top of the list to pick and sort assets your assets. These are available assets:
Markets
- European and US Stocks
- Foreign Currency Exchange (Forex)
- Indices
- Commodities
Available Currency Pairs
- EUR/USD
- GBP/USD
- AUD/USD
- CAD/USD
Available Expiry Times:
- Intraday
- End of the day
- End of the week
- 60 Second Options
- 15 Minutes
- 1 Hour Options
Min/Max Trade
$24/$20,000
Usability
On a functional level I found the interface to have a lot more options available, however there is a trade off. There are a lot of brokers enabling you to trade directly from a box or window which already has the contract expiration date & time, expiration value, settlement, and strike prices already built in and in plain view to see. Here there is an additional step which requires you to open the trading box. The upside to this of course is simply having more assets available in the interface, just in a different format.
Accessibility
The support staff is available 24/7 with personal account managers ready and willing to help you get started trading. They are very professional and provide priceless trading tips and strategies for beginners as well as for more savvy traders.
Conclusions
On the overall I found the 24Option binary options platform to be particularly delightful. The staff was highly professional and dispensed very relevant and useful advise and strategies. The software was very easy to handle and I felt that everything just went really smoothly. I really liked the boundary as well as 60 second options features, although if this is your first time trading I would just stick to the High and Low format.
Overall Score: 9.6/10
Click Here to open an 24Option trading account
