24 Option Review
- April 03, 2016
- Binary Options Broker
- Comments Off on 24 Option Review
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24 Option is a Cyprus-based binary options broker regulated by CySec. It has been on the market since 2010 and has gained a strong reputation as a secure binary options broker, winning multiple awards, including the Prestigious Forex Magnates London Summit 2014 Award. This international recognition coupled with its strong service make it one of the most respected platforms in the business.
24 Option offers a number of bonuses and promotions for its users. There are also frequent competitions on the platform.
- Technology Bonus I (free iPad): for a deposit of $10,000, or its equivalent of new funds. Trading volume must be $50,000 to qualify.
- Technology Bonus II (free Macbook): when you deposit $20,000 or its equivalent of new funds in your trading account. Trading volume must be $100,000.
- New Account Bonus for Mobile Application: A $24 bonus for downloading the mobile trading app. To qualify, the account has to be verified and a deposit made within an hour of registering.
- Cash Bonus: There are a variety of cash bonuses on offer, at 24 Option’s discretion. They are based on the amount deposited and agreed on with the trader. Special T&Cs may apply.
- Risk-free trades: 24 Option offers a promotional risk-free trade from time to time. Special T&Cs may apply.
To set up an account with 24 Option you need to make a $250 deposit. This gives you access to the demo account, which we highly recommend making use of before proceeding to trade. Thereafter, 24 Option offers 5 account types.
- Basic account: Minimum deposit of $250. This account gives payouts up to 82%. You also get one fee-free withdrawal per month and access to customer support.
- Silver account: Minimum deposit of $2,000. Also paying out up to 82%, the silver account comes with the same benefits as the basic account with the extra benefit of a personal coach and trading alerts.
- Gold account: Minimum deposit of $25,000. With a payout of up to 84%, this account includes SMS and email alerts and live trading with an expert.
- Platinum account: Minimum deposit of $50,000. On top of the benefits of the gold account, the platinum account gives up to 86% payout, free withdrawals, forex trading and higher trading limits and exposure. You also get access to a research website and a session with a financial expert.
- Diamond account: This account gives you the maximum payout of up to 88% as well as a customised platform. You can also benefit from 24 Option’s partnership with Juventus football club by getting access to Juventus tickets.
Unique Selling Points
- High payout rates
- Innovative trading platform
- Unlimited maximum bonus
- Education centre with courses for beginner, intermediate and advanced traders
Pros and Cons
- Immediate execution on the platform
- Free signals package
- Speedy withdrawals
- Zero spreads
- Mobile trading
- Dedicated support through multiple channels
- Demo account available
- Over 20 currency pairs
- No US traders allowed, which only should concern you if you plan a move to the US.
- Bonuses have a rollover requirement
- Minimum deposit is on the higher end
- Withdrawal fees vary
While 24 Option has only one trading platform, it uses an innovative and industry-leading version of Tech Financials system and is very popular with users. Another benefit to traders is the multitude of deposit options for international traders, including Webmoney, Skrill, Qiwi, Sofort, AstroPay and others. Before depositing large amounts of money, however, you can test out the system without risking your capital. 24 Option has a demo account that mimics the platform, so you can test out trading and get comfortable with the system Note that while the demo account does not involve any real finances, you do still need to make the initial $250 sign-up deposit for a 24 Option account. However, if you choose not to go ahead with trading on the platform, you can withdraw this. This option is appealing makes 24 Option appealing for beginner traders who can get their feet wet without risk. At the same time, the many trading options and account levels also give more advanced traders a platform to trade at high volumes, with high payouts.