If recently joined the binary options trading, then you must have heard about 24Option. 24Option is part of the list of brokers most respected and reputable. This binary options broker is based in Cyprus and is a strong favorite to many binary options traders today. If thinking about investing in 24Option, a review of some of its features can shed a light on whether to invest or not.
The trading platform of 24Option is one of the most innovative. Most brokers rely on the third-party trading platforms such as Tradologic or SpotOPtion to provide them with a trading engine. 24Option, on the other hand, uses the trading engine provided by tech financials. The trading platform resulting is more secure and safe.
24Option equally supports its mobile trading. I have a secondary website that has been optimized for mobile devices such as smartphones. This facilitates the trading activity of traders who are constantly on the move.
Types of trade
24Option basically offers four main trade types including
- Classic binaries – this trading type comprises of high/low and above/below.
- One touch binaries- this type consists of touch/no touch and the high yield touch.
- Boundary binaries- this type includes the standard yield and the high yield boundary.
- Short term binaries – these are binaries that have a short expiry period ranging between 30 seconds and 5 minutes time.
To open a trading account with 24Option, you need to make a deposit of $250 when signing up, which is the minimum amount. As in the case of the trading account types, there are 4 different types including the standard, gold, platinum and diamond accounts.
- The standard accounts offer o restrictions on the asset types that can be traded with. It also has a 24-hour customer support and a maximum payout of 83%.
- Gold accounts offer all the standard accounts benefits in addition to earning a 2% extra on your investments and a free withdrawal for a single calendar month.
- Platinum accounts combine the benefits of standard and gold, in addition to a 4% free withdrawals per trade with no limits. The maximum payout is 89%.
- Diamond accounts combine the benefits of the three accounts in addition to a 6% free withdrawals per trade with no limits.
24Option also offers a demo account for free but a minimum deposit of $250 is required before being allowed to access the facility.
24Option provides customer support in 17 major languages. The support team can be reached by telephone, email and live chat. International traders are also provided with a list of localized and toll-free numbers to reduce their call charges.
- It’s a member of investment compensation fund with 20,000 euros in protection.
- 24Option is an established broker that’s been on the market for long.
- It’s licensed and regulated by the CYSEC.
- Has a good industry reputation.
- Reliable customer support
- Multiple languages for customer support
- The trading platform is unique and secured.
- Has a wide market coverage.
The main problem with 24Option is the requirement of a $250 minimum deposit for the demo account before being granted access.
In conclusion, not so many binary brokers in the market offer the service qualities as 24Option. Its range of incentives is also attractive to many trades. It’s a good binary options broker to trade with.