24option Customer Support

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24option Customer Support

24option Customer Support

One of the leading brokers in the industry, 24option was established in Cyprus by a group of highly experienced experts back in 2020 and quickly became one of the most popular brokers on the market. By offering an intuitive, easy-to-use trading platform with a variety of underlying assets combined with excellent bonus offers and numerous educational materials, it’s no wonder that 24option is the broker of choice for many traders. But there is one thing that really puts this broker in the spotlight – versatile and highly skilled 24option customer support which can fix any problem in no time, at any time of the day. Read on to learn more about the topic.

24option Customer Support | Regulation and Education

Unlike many other brokers out there, 24option is a CySEC-regulated company and holds the license number 207/13. This leaves no doubts about the security of your funds – 24option has all your information encrypted, protected by firewalls and segregated, ensuring that no one, except the owner of the account, has access to them. This fact reflects directly to deposit and withdrawal methods. A wide variety of deposit methods, including credit cards (MasterCard, Visa, Discover), electronic payment systems (Skrill) and wire transfers, as well as 24option Minimum Deposit, one of the lowest in the industry, is combined with a user-friendly interface, making the deposit process quick and easy. And if you actually get stuck, 24option customer support is there for you at all times.

24option Short Term

On the other hand, there are some mainly inexperienced traders complaining that they’re losing money regardless of the underlying asset or winning chance they have. The fact is that many of them never educated themselves before starting with their binary options trading. 24option customer support, on the other hand, has done a terrific job with creating the all-around Education Center, ensuring that their customers have access to many useful educational materials. As we have explained in our thorough 24option Review 2020, there is a series of videos divided into three groups, based on the clients’ trading experience– Basic, Intermediate and Advanced – so that literally everyone can expand their knowledge. Also, 24option customer support wrote some of the best E-Books regarding binary options trading tips and tricks, and there is an embedded calendar showing the upcoming free webinars. Truly a valuable effort, but is that all they’ve done? Read on and find out.

24option Education Center

24option Customer Support | Contact Forms

If the fluctuations on the ever-changing market ever start to confuse or worry you, you’ll want a steady, professional support to guide you through the problem. And 24option customer support is really one of the most prominent ones out there. Their offices are established in a number of countries all around the world (UK, France, Germany, Italy, Japan, Cyprus, Spain, Bahrain, Romania, Norway, South Africa, Canada, China, Switzerland, Russia, Malaysia, South Korea, Taiwan and India), with highly skilled personnel speaking the corresponding language. One can contact them via mail, phone, live chat or an excellently designed contact form.

24option Customer Support | Conclusion

So there you have it – 24option customer support is really one of the best you can find. And so is the broker.

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    Best Binary Options Broker 2020!
    Ideal for beginners!
    Free Demo Account + Free Trading Education!
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  • BINOMO
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    2nd place in the ranking!

We hope that all your doubts are gone by now, and we can only encourage you to open a trading account with them right now – you’ll be trading with one of the best brokers in this industry!

24option Broker Review 2020

24option

Platforms

Tradable Assets

Spreads

Customer Support

Credibility

  • Wide range of instruments including cryptocurrencies
  • Tight spreads
  • Regulated by the IFSC and CySEC
  • Well-established brand
  • US traders not accepted
  • Demo account valid for 1 week only

Easily sign-up with 24option for free via the form below!

Introduction or Skip Content and Read the Bottom Line!

24option is one of the most reputable brokerages in the market and now they have diversified their online trading services by offering a suite of platforms.

It’s interesting that a well-known and established brand has entered the competitive world of FX and CFD trading.

So how do they compare to other forex brokerages?

Should you sign-up with 24option or would it be better to consider other brands instead?

Continue reading this unbiased and updated review to know the answers.

24option Overview
Founded 2020
Platform Scipio, MetaTrader 4, MT4 Mobile Apps
Minimum account size $100
Minimum lot size 0.01
Tradable assets 340+
Maximum margin 1:400 (for professional clients) / 1:30 (for retail clients)
Spread on EUR/USD 0.9 pips
Payment methods Credit Cards, OKPAY, Neteller, Skrill, Perfect Money, Wire Transfer, Alternative Payment Methods
Demo account 1 week with $100,000 virtual funds
Accepts US traders No
Regulated IFSC (Belize), CySEC (Cyprus)
Support Email, Phone, Live Chat
Website www.24option.com

CFD Service. 83.29% of retail clients lose money.

Registration 10/10

The initial part of the registration at 24option won’t take too much of your time nor would it need plenty of information from you.

The registration form on their website is very basic and only requires the following personal details:

  • Full name
  • Email address
  • Phone number

Once you have accomplished this form and clicked on Submit, you’ll get pop-up welcome message and will be asked to answer a short questionnaire.

This part of the registration is mandatory and imposed by local regulators so be sure to answer them correctly since the assessment would determine if your experience and profile is suitable for trading on their platform.

This is no technical exam that will require you to be an expert or experienced user. They will only provide you with several basic questions which you can finish in as fast as 5 minutes.

And once you’ve completed the questionnaire, there’s no need to wait further because you will instantly be informed if your account has been approved or not.

24option registration page

CFD Service. 83.29% of retail clients lose money.

Ready to sign-up with 24option? Just click on the button below and we’ll take you to the registration page:

CFD Service. 83.29% of retail clients lose money.

Account Types 10/10

Your initial deposit would determine the account type that you will be subscribed to and this could be any of the following:

  • Basic – $250 minimum deposit
  • Gold – $5,000 minimum deposit
  • Platinum – $10,000 minimum deposit
  • VIP – $50,000 minimum deposit

Each account has its own perks and of course, the higher the account type, the better the perks you’d get to enjoy.

Let’s look at it in detail:

Among the benefits that you would be able to avail may include floating spreads, education center features such as basic and advanced lessons, webinars, daily news, alerts from Trading Central, 100% margin call and free withdrawals.

24option account types

CFD Service. 83.29% of retail clients lose money.

Demo Account 8/10

If this will be your first time to use 24option’s platform or you have no trading experience at all, then the demo account is definitely useful tool that you can utilize.

How can you actually use this?

This is basically the same as the Live trading platform with live market conditions and the only difference is that you will be able to use it in virtual or practice mode.

In this way, you can explore the user interface, do test trades and apply various strategies to see which one works best for you without using the real funds on your account.

Via the demo mode, you will be utilizing the $100,000 virtual funds which we believe is more than enough for you to use to fully maximize this feature.

But there’s one small catch…

The demo account will only be valid for 1 week only so make sure that you take advantage of it before it expires.

You can get in touch with your account manager and request to add more funds in your virtual account or extend the validity of your demo account. This however is subject to their approval.

24option demo account

CFD Service. 83.29% of retail clients lose money.

How to access the 24option demo account?

Right after you have completed the registration process and the assessment, you will be redirected to the main trading platform page.

From there, locate the top section where your account number is displayed and the text “Live”. Place your mouse pointer on these details in order to reveal the dropdown menu and click on “Demo” to trigger the demo account.

How to access 24option’s demo account

CFD Service. 83.29% of retail clients lose money.

Payment Methods 10/10

There are plenty of options for you to choose from in adding funds into your 24option account. In fact, there’s a high chance that you’ll have one of these payment methods.

The banking methods that they accept are among the most secured and the most known in the market.

As of press time, here are the banking methods that 24option supports:

  • Credit cards
  • OKPAY
  • Neteller
  • Skrill
  • Perfect Money
  • Wire Transfer
  • Alternative payment methods

So what’s the big deal?

Having a lot of options to fund your 24option trading account gives makes it easier and hassle-free since there are more ways to make a deposit.

24option deposit page

CFD Service. 83.29% of retail clients lose money.

This will give you a lot of convenience in transferring funds into your account and such convenience merits a perfect score.

Minimum Deposit 8/10

You can open a live trading account with a minimum initial deposit of $100.

This amount is just a little higher than the requirement of most of brokerages today.

The thing is, majority of brokerages today require much higher initial deposits from their clients in order for them to trade.

So in comparison…

24option’s minimum deposit requirement is reasonable. And in fact, this amount is just right enough especially if you’re a beginner so you can have ample funds to invest on several instruments.

CFD Service. 83.29% of retail clients lose money.

Platforms 9.2

24option will provide you with a choice advanced platforms: one that they have developed in-house and one of the most popular forex trading applications out there.

Currently, the following platforms are your options:

  • Scipio – A proprietary web-based platform which they have enhanced with more features.
  • MetaTrader4 – They added this standard platform for the convenience of users who are used this popular software.
  • MT4 apps – These can be installed on mobile devices running on Apple’s iOS and Google’s Android.

We have tested all of the platforms listed above and we find them all very convenient to use.

They are bug-free and are not highly resource-intensive so they operate very smoothly.

Design 10/10

The downloadable MetaTrader 4 client only offers the basic platform design which is why brokerages like 24option won’t be able to incorporate any additional visual elements on this trading software.

Here’s what 24option’s MetaTrader 4 platform looks like:

24option MetaTrader 4 platform

CFD Service. 83.29% of retail clients lose money.

Nevertheless, they managed to keep the interface free from clutter and as simple as it can be.

On the other hand:

The feature of their Scipio platform design over their competition is that they have made it quick and easy for CFD/Forex trading without the need to open and close any windows on your computer.

You can simply click on the links at the top the interface to open the platform and begin trading as you wish.

Here’s what the Scipio platform looks like:

24option Scipio platform

CFD Service. 83.29% of retail clients lose money.

Its mobile version is not very far from its design so switching from the web-based version to the mobile app and vice-versa won’t cause you any confusion.

Here’s a screenshot of their Android app:

24option Android app

CFD Service. 83.29% of retail clients lose money.

Tradable Assets 8.9/10

24option’s platforms have more than 340 underlying assets which are composed of commodities, stocks, indices, forex, ETFs and even cryptocurrencies.

CFD Service. 83.29% of retail clients lose money.

Here are the current instruments that you can invest on:

Forex

You’ll find a selection of around 30 currency pairs including majors, minors and exotics. Among the forex pairs you can invest include EUR/USD, GBP/USD, USD/JPY, USD/CHF, USD/CAD, AUD/USED, NZD/USD, EUR/GBP, EUR/GBP, EUR/CHF, EUR/JPY, AUD/CHF, AUD/CAD and more.

Commodities

Plenty of commodities are available such as precious metals (gold, silver, aluminum, zinc, nickel, copper and palladium), soft commodities (coffee, cocoa, corn, orange, rice, soybean and wheat) and energies (crude oil and natural gas).

Indices

You can choose from a list of popular equity indices like TA35, TADAWUL, OMXS30, NIKKEI, DAX, FTSE, NASDAQ, SP500, ICE USD, ASX, JSE and MIB.

Shares

Here’s the kicker:

There are around 200 stocks to choose from on the platform so you practically have a lot of options. Coca-Cola, Apple, eBay, Disney, Facebook IBM, Alibaba, Amazon and Netflix are just among the popular companies you can trade on.

Cryptocurrencies

This new asset class is also available on 24option’s platform. You can invest on the most popular digital coins like Bitcoin, Bitcoin Gold, Litecoin, Dashcoin, Ripple, Ethereum, Ethereum Classic and Monero.

24option is among the very few brokers in the market today that allows CFD cryptocurrency trading for both full size and mini contracts and the coins can be traded not only against the USD currency but also against EUR and GBP.

A word of caution:

When you’re trading cryptocurrencies via CFDs, please remember that this is not the same as buying/selling cryptocurrencies from an exchange.

Trading on the most popular Exchange Traded Funds (ETFs) is possible via this CFD service and the great thing is that you’ll have around 30 choices such as UCO, USO, XLF, XLY, XLK, ACWI, DBC, EWT, FAS, LIT and MDY.

Such variety gives you the chance to expand your investment journey by having a flexible and diversified range of underlying assets which is why they deserve an above-average score.

Minimum Lot Size 10/10

We can’t emphasize enough:

The size of your lot will directly influence your risk management and the smaller the lot, the better you can control your risk.

Most retail brokerages allow their clients to trade with micro lots which means a Buy or Sell order will be placed for 1,000 units.

The fact of the matter is…

Micro lots are the smallest tradable lot size that are usually allowed by most brokers and the good news is that this brokerage offers the same size for specific account types.

Like most brokers, 24option also allow trading with micro lots for as low as 0.01 giving traders the opportunity to invest with lower risks.

Spreads 9.8/10

24option offers floating spreads and the higher the account type, the tighter the spread you get to enjoy.

For a new entrant in the forex and CFD trading industry, their spreads are very competitive even for the hottest currency pairs in the market like EUR/USD which can reach as low as 0.9 pips for VIP account holders.

Basic, Gold and Platinum accounts have EUR/USD spreads of 2.5 pips, 2 pips and 1.6 pips, respectively.

We’ve matched these numbers with other brokerages and generally, 24option’s spreads are competitive and compare fairly well with their competitors.

CFD Service. 83.29% of retail clients lose money.

Quotes Accuracy 10/10

If your broker is not capable of providing you accurate and real-time quotes then you won’t be able to make a profit regardless of how skilled or experienced you are.

In order to see the accuracy of the prices shown on 24option’s platforms, we’ve monitored them for over a week and compared them with the actual market prices from reliable quote providers.

24option quotes accuracy

CFD Service. 83.29% of retail clients lose money.

Several tests were done to check the accuracy of the prices that are shown on 24option’s platforms and the good news is that there were no discrepancies encountered and trades were also executed without any delays.

Withdrawal Time 10/10

For security purposes, you need to verify your account before you can make a withdrawal request.

Here’s how it goes:

Simply submit them your proof of ID, proof of residence, complete assessment of appropriateness and verification of the payment method that you used to accomplish this.

And once the account has been verified, you will be able to withdraw your funds and if the request will be processed without any undue delay.

Generally, the processing time is impressively fast.

Customer Support 9/10

Customer service is one of the key aspects that can help you judge the reliability and trustworthiness of a broker.

How fast and professional they are in attending to your needs and queries will definitely show how they treat their customers.

So let’s get down to it

24option offers customer support via phone, email and live chat and their availability is 24 hours a day, 5 days a week so there’s always someone to talk to whenever you need help.

They are not available on weekends but we consider this as a minor downside since the action happens on weekdays when markets are open.

24option customer support

CFD Service. 83.29% of retail clients lose money.

In order to fully determine the quality of their customer service, we’ve done a thorough test by contacting them via all modes of communication and asking the several questions.

So how did it turn out?

Getting in touch with 24option’s customer service department was never a problem.

Via phone, we were able to talk to one of their agents in less than a minute and all of our questions and concerns were answered in a timely manner.

The same goes for the email support although the response time was around 30 minutes which is still faster compared to other brokerages which would take more than day to answer a very basic question.

We found the live chat support to be a very convenient way to contact them. This feature is readily accessible on their website regardless if you’re logged-in or not. All you have to do is provide your name and email address and start the conversation.

24option live chat

CFD Service. 83.29% of retail clients lose money.

So it all adds up to this:

24option’s customer service is superb! They know how to handle almost any kind of customer query, issue or concern and they deliver it with ease and through multiple channels.

The ease of getting immediate customer service is the reason why we’re giving them a very satisfactory score.

CFD Service. 83.29% of retail clients lose money.

Credibility 9.2/10

24option is among the biggest brands in the online trading market so if you’re concerned about their credibility then this is definitely not an issue because they have been operating since 2020.

But other than that…

Recent reviews and comments show that their CFDs/Forex services have been well-received by traders.

There were plenty of positive comments from their satisfied clients that can be found on various forex and trading forums, online communities and even on social media.

So what does all this mean?

This strongly indicates that 24option was able to sustain their good credibility.

Regulation and License 9/9

24option is a brand name shared between two group companies, Rodeler Limited and Richfield Capital Limited.

Rodeler Limited is authorised and regulated by the Cyprus Securities and Exchange Commission while Richfield Capital Limited is regulated by the International Financial Services Commission.

Rodeler Limited offers services within the European Economic Area (excluding Belgium) and Switzerland while Richfield Capital Limited offers its services to all countries that are outside the European Economic area and Switzerland, the USA the British Columbia, Canada and some other regions.

Conclusion 9.2/10

24option is a great addition to the competitive foreign exchange market with their full-feature platforms and client benefits.

What sets them apart from the rest is that they have good reputation, excellent support and other trading benefits that you won’t just find from any other broker.

They have flexible trading conditions that are suitable not just for experienced and skilled traders but also for those who are just starting to explore opportunities in the financial markets.

The professional 24/5 support is unquestionable and reliable in the event that you need assistance or help with your online trading account.

24option has all the necessary features and perks that traders are looking for in a broker. It is easy to see why they are a well-established brand and a popular choice among forex and CFD traders.

CFD Service. 83.29% of retail clients lose money.

7 Binary Options

In our review of 24Option, you will find that this broker offers top notch binary options trading. The broad span of their service provisions makes the user feel completely comfortable with every phase of the entire process.

The 24Option team immediately helps clients to realize the features are innovative and help investors to expand their knowledge. The platform is phenomenal with a full category of trading options that offer investment amounts to appeasing every budget. You can also access your account from any mobile device to enable you to utilize all the trading chances.

24Option is one of the recommended binary options brokers in 7BinaryOptions.com.

Basic information:

Online since: 2020
Jurisdiction: CySEC
Software: TechFinancials
Max Returns: 88%
Minimum Deposit: $100
Minimum Investment: $24
Maximum Investment: $100 000
Currencies: USD, EUR, GBP, Yen
Mobile: Yes
Countries: All nations excl. USA & Australia

  • Very good trading software
  • 60 s option
  • Excellent customer service
  • Free signals
  • Mobile Trading
  • Doesn’t accept US traders

7 Binary Options Rating:

Is It Regulated?

Sometimes it is hard to analyze the trustworthiness of a binary options broker. After all, a fantastic and professional website doesn’t mean anything. Extensive features are no guarantee of honesty or sound business practices either. Finding out whether a broker is trustworthy is crucial. The first thing that we do is analyze and review any broker, regardless of whether they are new to the market or one of the more established players.

We use a number of methods for comparing how trustworthy the various brokers are, but the most important is whether or not they are regulated. Regulation provides third-party oversight to ensure that the broker is not doing anything that might harm or unfairly disadvantage its customers. When looking at the regulatory status of the various binary options brokers that are available, 24 Option is in an elite group.

This is because 24 Option is regulated by CySEC. In fact, it was one of the first binary options brokers to be officially recognized by CySEC when the regulator started to monitor the industry.

CySEC regulation is impressive in itself, but 24Option has taken it a few steps further. Specifically, it also has a registration by a number of institutions. 24option takes measures to safeguard Clients’ Funds. In this sense, the Company cooperates only with banks authorized and regulated by EU member states and that are highly rated by credit rating agencies

In addition, CySEC is the regulatory body in Cyprus which allows to brokers to provide its services within the European Union. The mission of the CySEC is to exercise effective supervision to ensure investor protection and the healthy development of the securities market.

It is important to say that it is healthy to be skeptical when looking at binary options brokers – the industry has too many cowboy operators. 24Option ticks all the right boxes, so it is worth further evaluation.

Available Underlying Assets Reviewed

Generally speaking, brokers that offer a large number of underlying assets offer the best trading experience. This is because you have more choice and can diversify and/or target your trading strategy to suit your needs. You will not be disappointed by the range of underlying assets available at 24Option.

It has more than 120. This is more than almost all other brokers and is probably due to the fact that 24Option is one of the longest operating of all binary options brokers. It gives you the choice to trade binary options and Forex/CFD in over of over six stock, commodity, indices, and currency exchanges.

The underlying stocks include many of the biggest and more well-known companies in the world. This includes oil companies, technology companies, telecommunications companies, car manufacturers, and more. There are around 60 to choose from; and because they are major underlying stocks, you will find a lot of information to analyze and track, which should help your decision making process.

Commodities are a popular underlying asset for many traders involved in binary options, and many include specific commodities as part of their overall strategy.

With 24Option, you can choose from a number of commodity options including:

  1. gold
  2. silver
  3. crude oil
  4. copper
  5. platinum
  6. you can even place binary options and Forex/CFDs trades on a coffee

The range of underlying indices available at 24Option is not as good as the other types of underlying asset, but there are still all the big names. This includes Dow Jones and the FTSE 100, two of the most followed indices in the world. You can also trade on the S&P 500 as well as Russia’s MICEX and China’s Hang Sheng.

Currencies are traded in pairs. You have to pick the currency that you think will perform better within the set timeframe out of the two. The currencies included in the various pairs are the world’s major currencies, so you should be able to do plenty of research and trend analysis. The currency pairs that 24Option offers include:

You should remember that research is the crucial part of every trading strategy whatever underlying asset you choose and whatever type of option you decide to trade. Make sure you get to know the markets you trade in as much as you can. What is the Trading Platform Like?

Analyzing the trading platform is a crucial part of determining the quality of a binary options broker. The trading platform is essentially the user interface— the place where you gather information, monitor data, place trades, and manage your account.

Trading platforms vary greatly from broker to broker, but you can put them all into two broad categories. The first is a custom built platform, and the second is a platform based on software created by well-known providers (SpotOption is probably the best-known example). There are advantages and disadvantages to both approaches.

Creating a custom platform means the broker can optimize the platform for its customers, i.e. tailor it to the services it offers, the underlying assets it offers, and the options it offers. A custom built platform also gives the broker more control over making it easy to use and ensuring every trader has all the information they need.

Using a third party platform, on the other hand, is less costly to develop and less risky, as the software is already tried and tested.

This is all important, as the trading platform offered to customers can make or break a binary options broker. In other words, the trading platform is more important than special offers, or other marketing tools. After all, if traders don’t like using it, they won’t.

Points You Should Know about 24Option Platform:

  1. 24Option chose to use a third-party platform from the Israeli company TechFinancials. It is an established name in the binary options and forex broker industries. Therefore, its platform is well tried and tested. It is also intuitive with an attractive and easy to use design.
  2. While it is also free from clutter, it is packed with information, so you can make the right decisions for your trades. This includes prices that are updated in real time. Real-time prices mean any quotes you get are based on the latest available information provided by 24options liquidity provider.
  3. In addition to the above, there is an impressive variety of pricing options available at 24Option. This optimizes the pay outs, which makes it possible (with the right strategy) to expand investors trading experience. Obviously, it is not possible to reach a pay-out level of 100 percent, but 24Option’s score is typically between 70 and 88 percent per successful trade. But have in mind that if your prediction is wrong you will lose your invested capital on this trade. This is more than respectable and is also better than most, if not all, of its competitors.
  4. Some people in the binary options industry describe TechFinancials’ platform as being mid-range. That may be so, but it still manages to have everything the trader needs. This includes advanced traders. For example, you can trade on a wide range of underlying assets that includes currency pairs, the stocks of many blue chip and internationally recognized companies, commodities, and indices.
  5. Analytical tools are available also, so you can gather all the information you need before deciding to make a trade. Most of this is represented in graph form to make it as easy as possible to read and identify trends. Some technical indicators are available too.

This above is just an overview of the platform with a focus on the design and technical aspects of 24Option . Now it is time to get into it in more detail by looking at some of the features and options available. After reading the next section, you will have a better understanding of what 24Option is capable of and what you can expect to achieve.

What Option Types Are Available?

Options are a type of trade that you can make that will end in either a profit or loss. Generally, there are three main types:

  • Underlying asset specific options – These can only be used to place trades from a specific list of underlying assets.
  • Time specific options – These are trades that stay live for a specific time period before expiring. They can be either long term or short term.
  • Mixture – Other options mix both of the above, i.e. they are limited by both underlying asset and time.

24 Option’s option types fall into these broad categories. Specifically, it has four options you can choose from. They include:

  1. High/Low Option

The High/Low option is one of the most common binary option types. In fact, every broker that we have analyzed offers High/Low options, although some call them Call/Put options. Despite the name, they are the same thing.

In a High/Low option trade, you predict the final price of an underlying asset based on its current price. In other words, you predict whether the final price will be higher than the current price or lower than the current price. The trade will have an expiration time, and you win or lose depending on whether your prediction is correct at that time.

High/Low binary option trades can be placed on a wide variety of underlying assets, including currency pairs and stocks. It is a low-risk form of trading, which means the pay outs are typically lower than other option types that are available. Because they are low risk trades, they are suitable for new traders and cautious traders that don’t want to occur big losses and want to explore their options.

  1. One-Touch and No-Touch Options

One-Touch or No-Touch trades are based on price, so they fall into a similar category as High/Low trades. They are a more risky trade, as they are harder to accurately predict. As a result, pay outs are typically much higher.

In both variations of the trade, the broker sets a target price for the underlying asset and an expiration time. If you select the One-Touch option, you are predicting the underlying asset will reach the price set by the broker before the time expires. As soon as this price is achieved by the underlying asset, the trade ends and you get the profits. If the underlying asset does not reach the predicted price by the time the trade expires, you lose the money.

If you select a No-Touch option, you are predicting that the price of the underlying asset will not reach the set price. If it does reach the set price, the trade ends and you lose. To win you have to wait until the expiration time during which the underlying asset cannot “touch” the target price.

This is a risky and, therefore, potentially more lucrative trade because you are making a more difficult prediction. For example, it is easier to predict if a trade is going to go higher or lower than its current value over the next five hours. It is much harder to predict that it will reach a specific value in that time period. Similarly, it is also hard to predict that it won’t reach a target price in that time period. This is because you have to predict both the movement of the price and how much it will move by. With a High/Low option, you only have to predict the direction of movement.

  1. Boundary Options

Boundary options carry a level of risk that sits between High/Low options and One-Touch/No-Touch options. As a result, the pay outs are more than they are for High/Low options but are lower than touch options.

In a Boundary options trade, an underlying asset will be given a boundary price by the broker. This is a price range that includes both an upper and a lower value. To make the trade, you predict whether the underlying asset’s price will stay within the boundary during the time period of the trade or whether it will fall outside the boundary.

This is why there is less risk than touch options, i.e. there are more price possibilities that result in a win.

Because of the nature of Forex markets, most experienced traders do not place Boundary options trades on Forex pairs.

  1. 60-Second Option

This is one of the newest types of options in the binary options industry, and it is available on 24Option. It is a high-thrill, high stakes, high pay out type of option that expires 60 seconds after you open it. A number of variations are available. You can win big, but it is not a method of trading for the risk averse.

Option Expiration Times Reviewed

Expiration times can make the difference between a successful and an unsuccessful trade. In fact, every second counts. Just one second is all it takes to turn a profit into a loss or a loss into a profit. There are no strict rules that determine whether the expiration times offered by a broker are good or not. However, all good platforms offer a wide variety to choose from. This is exactly what you get with 24 Option. The expiration times it offers include:

Short-Term

Short term expiration times allow you to make multiple trades in a short period of time. They work particularly well with trades on the underlying stocks of major companies and on currency pairs. Good results can be more challenging to achieve with binary option and Forex/CFDs trading in indices and commodities. Therefore, you should consider the type of underlying asset you are trading on before opting for a short term option. You expect average levels of profit, although the risk is normally on the high side.

The short term expiration times available at 24Option are:

  • 60 seconds
  • Two and five minutes
  • Half an hour and an hour

Long-Term

There are two long term expiration times available at 24Option. They are five hours and a variable length end-of-day expiration time. This is more limited than some other platforms, which also offer longer expiration times; but those timeframes are rarely used by traders. Binary options traders typically prefer shorter terms and like the trading day to close without any open positions. Therefore, the offering from 24Option is sufficient.

Demo Account Availability

Demo accounts are available for new traders at 24Option. This account lets you learn how to use the trading platform and get to know the features and options of the dashboard. It is not a stripped-down version, so everything you see in the demo account is exactly the same as the real account you will get when you start trading for real.

In the demo account, you can trade; but, as hinted in the last paragraph, they are not real trades. This means you don’t have to deposit or risk any of your own money when using the demo account. You are given $40,000 of virtual money so you can learn how 24Option works. This also lets you try some trading strategies so you have a plan whenever you start putting your own money on the line.

In other words, using a 24Option demo account is a completely risk free way of deciding whether you like the platform. It also lets you find out if it has all the tools you need, and it lets you test trading strategies.

One thing you should remember is that you have to keep your virtual balance above $0. This is because the virtual funds are not replenished, so once it hits zero, you will not be able to make any further virtual trades.

If you are new to binary options trading or have limited experience, we highly recommend you start with 24Option’s demo account. It is sometimes tempting to jump right in with real money, but it is always better to test the binary option system, get comfortable with the platform, and then make an informed buying decision. If you decide after using the demo that you are happy, you can simply deposit money into your account and begin trading for real cash. If you are not happy, you never have to log in to the account again.

Islamic Accounts

Binary options are traded by people from all backgrounds. It doesn’t matter what country you come from, whether you are male or female, how much money you earn, how good your education was, or what your religious beliefs are. The only rule is you have to be over 18. After that, all you need is Internet access, a willingness to learn and a tolerance for risk. However, most binary options brokers don’t have a suitable offering for one section of the community – Muslims.

24Option is unique in this regard, as it does offer the option of an Islamic account. This gives the hundreds of thousands of Muslims interested in binary options trading the opportunity to get an account and trade with the peace of mind that they are doing it on a platform and with an account that complies with Sharia Law.

It is free to set up and own an Islamic account at 24Option, just as it is free to have a standard account. Nothing about the account could be described as usury. This means there are no hidden charges or rollovers. Commission and interest are not charged either.

In addition, Islamic accounts are available in Arabic to cater to Muslims who speak it as their first – or only – language. The site itself is in Arabic as is the user interface. All the help materials are available in Arabic too, including binary options trading tutorials, ebooks, and more.

Possible Payouts

We found that 24option payouts are a bit to rave about in the meantime as well. In fact, most payouts tend to be typically higher. The payout is between a 70 and 88 percent on successful traders. For most 60 seconds options, clients have made as much as a 70 percent payouts and that’s great for one minute in our opinion.But investors should have in mind that they might lose all their invested capital.

Personal account managers explain to the clients that the payouts will vary and change as new underlying assets enter the platform. It is important to remember that clients might lose their invested capital as well. However, most investors find comfort in knowing that all of the payouts are viewable on the trading platform and this includes out of the money payouts.

Account Types

Another motivational tool during our review of trade efforts with 24option, is their various account types e.g. Platinum, Gold and Standard account.

  1. Platinum account holders generally have access to further features like high/low options, high-yield, boundary, and touch options. They get most update info about latest trends in the market, and they also get personal training session as well.
  2. Gold account holders usually get 2% return on each successful trade that they make and they can also trade all option.
  3. Standard account holders can also trade all options and they can access 24 hours customer support as well.

It helps to understand the depths of each account and which best fits your trading style. We found that the insight offered by the personal account manager team to be very useful in helping clients to decide which route to take as a beginner. The free demo account is a must for anyone on an entry trading level. This account provides the platform needed to familiarize yourself with the basics of binary trading options and without it, many newbies would be lost.

Underlying Assets

With 24Option you can trade Binary Option on different underlying assets such us currencies, commodities such as gold and silver, leading stocks such as BMW and Google, indices that include S&P500, DAX, and NASDAQ.The underlying assets of 24option review are very encouraging and provide great alternatives for various trade levels.

Boundary options are of course a favourite but we’ve found that High Yield options can be rewarding when traded with care. Traders gain a more clear perspective of the platform and its importance and this causes them to be more attentive to the underlying assets and available options. We also found as a positive incentive that 24option presents the option to close early as on online trading feature.

Screenshot of The Trading Software

Deposit and Withdrawals

The deposit interface of 24option is very simple to comprehend. It’s obviously simple if one who has never traded can do it. In addition to that, it’s fast and very safe to use, you can deposit your funds in GBP, USD, JPY and through digital payment. With all that’s going on in the world today, safety while trading is essential.

Minimum deposit amount offered by 24option broker is 100GBP, USD, EURO, and approximately 10000JPY. There are various methods of funding allowed for online binary trading, like clients can deposit funds by using MasterCard or Visa, Credit card, digital payment method or through bank transfer. The simple process afforded by 24option makes it more enjoyable. The withdrawal standard of 24option is without a doubt more convenient and many other brokers out there.

Customer Service

If nothing else we’ve mentioned encourages you to at least give 24option a chance, their superior customer service will win you over at every phase. It is most important to be provided great customer service and this has been our discovery at every phase of 24option. It is essential that we mention the significant number of available languages for 24option. This is a great underlying asset for international traders who desire to trade in their native language.

Although live chat is offered in various languages, this isn’t always possible. Most of the support comes through as English but there is support available in 13 other languages. For any binary options trading queries, 24Option has live chat, email and telephone numbers. This is in order to provide excellent customer service in a prompt and professional manner, anywhere in the world.

Summary

24Option trading platform is easy to use for trading binary options and it provides high returns for traders. It is also CySec regulated and has access to around the clock customer service for any assistance on trading. This all makes 24Option a binary option broker we can highly recommend.

Is this your final decision?

Additional information

Customer Service: Live Chat / Email: [email protected]
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
Underlying assets: Currencies, Stocks, Indices, Commodities
Expiry Times: 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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