When looking for a binary options broker, 24Option is one of the favorites among traders in Europe. It is owned and operated by Rodeler Ltd. The broker is regulated and licensed and CySEC. In addition, 24Option is registered with several other financial regulators. This shows that they care about their reputation among binary options traders.
24Option uses the tech financial trading platform. Traders will have the option of trading either long term or short term options in commodities, stocks, indices, and currency pairs. A demo account is available for new traders so that they can adjust to using the trading platform offered by 24Option.
Another characteristic worth pointing out is the Early Closure options which permits the trader to cancel the trade up to 5 minutes before it expires, thus helping to avoid losing the whole trade. In addition to a well-functioning trading platform, 24option has a decent resource center with a detailed glossary of investment terms and a trading tutor.
24option has a multilingual and professional chat support which we tested several times and most of the time the support staff was welcoming and knowledgeable. The broker offers also a phone support in several languages, but we would strongly suggest using the chat for speediness and efficiency.
There are several attractive bonuses offered by 24Option when you decide to use the services provided by the site. It is important to read about the stipulations in place about withdrawing bonus money from the site.
For any of the bonuses that you receive through the broker you will need to make trades worth 50 times the bonus amount before it can be withdrawn. For example, if you make a $100 deposit you will need to make $5000 worth of trades before the bonus money can be taken out.
When requesting a withdrawal from 24Option it is recommended that you send compliance documents along with your deposit so that when you make a withdrawal the process will be quicker. Compliance documents consist of a copy of the credit card that you have used to make the deposit, a government issued photo id, and a copy of a bank statement or a utility bill that provides your name and your address. These documents are necessary in order to comply with anti-money laundering regulations that have been put into place.
Depending on the type of account you have, there are several withdrawal methods available on the site. Some of the withdrawal methods come with a fee. With every account you will receive your first withdrawal for free. A gold account comes with one free withdrawal per month. The platinum and diamond accounts come with free withdrawals at all times.
In order to make trades at 24Option you will need to be eighteen years old or older. The minimum deposit amount for an account on the site is $250. Once you have created an account there are several deposit methods available.
Some of the deposit methods available on the site include credit cards, debit cards, wire transfers, as well as many online banking options.
Minimum Deposit : $250
Minimum Trade Size : $24
In the money : 70% – 88%
Out of the Money : 0%
Bonuses : Up to 100%