24Option is a pretty new player compared to other brokers. However, it came to the market with a huge confidence. And that allowed becoming one of the most popular brokers in the niche. The brand owned by Rodeler Ltd. provides CFDs, crypto and forex trading.
The broker is registered and regulated by CySEC and IFSC. So it complies with all legal requirements for providing online brokerage services.
24Option even sponsors the football club – Juventus. You probably have heard about it.
24Option Fees and Spreads
The broker applies inactivity fee which size depends on the time the account was inactive. Also, 24Broker takes the maintenance fee. It’s fixed and gets charged 10€ every month.
There is no fee for a deposit. However, customers are charged when withdrawing the funds out of the account.
24Option Trading Experience
This broker has a limit of 1:400 leverage, which is available for the professional traders only. Retail traders get a limit of 1:30 leverage. Also, these numbers may change depending on the traded asset. The biggest leverage is applied for Forex major and minor pairs while cryptocurrency or stocks get 1:2 or 1:5 respectively.
All type of accounts has a negative balance protection and a dedicated account manager, which is great. Also, it’s important to say that all the funds remain to be kept in segregated bank accounts.
Important to mention, as every reputable and high-quality broker, 24Option has applications for iOS and Android. Also, it supports MetaTrader 4, and of course has a built-in trading platform – Webtrader. So traders can place their orders wherever they go, whenever they want.
Amateur traders can open a demo account, however, there is no option for opening an Islamic account.
Insights, Informational Tools, and Education
Learning material is a crucial feature for all the brokers. 24Option isn’t an exception. Users find events calendar and trading central where account holders access to their advanced market analysis alerts.
Also, the broker provides information related to trading strategies. Both, technical analysis and fundamental analysis are covered in the learning material page.
And the last feature we want to mention – webinars and videos. Probably the best material to learn from. Webinar, of course, is free for registered members. They’re organized very often so don’t be sad if you missed one. Another should happen within the next couple weeks, probably.
24Option Customer Support
The broker did a great job when we talk about support.
First of all, it has a live chat which is available 24/5. Not many brokers present the live chat option nowadays. Furthermore, customers can reach the support team by phone. Not to mention the number of numbers available for different countries. Also, there is an international phone number.
In addition, users can get all the answers within the email.
Finally, all the users get a dedicated account manager. It doesn’t matter if the account is professional or retail.
Conclusion. Is 24Option legit?
All in all, 24Option is a solid choice for every type of trader – from a newbie to a pro. It has a lot of nice and useful features. Also, some of the things cannot be found at other brokers. Furthermore, 24Option supports tons of payment methods available for both, withdrawals and deposits.
Sadly, we miss some more of trading instruments available. The list is limited so another account at other broker is needed in most cases. Except if a user trades forex or some CFDs only. Also, the list of learning materials could be a little bit longer. We would love to see a detailed wiki or get a free ebook.
Furthermore, we didn’t like the fact that 24Broker charges the maintenance fee and an inactivity fee may be applied after a couple of months without trades.
In our opinion, 24Option account is great for trading some of the forex pairs or other instruments. That depends on what other account do you have. But some of the features sometime help to save a lot of time and money.
Attention: Terms, spreads, and information provided on this page may get outdated due to terms and rules changed by the broker. Please double check them before making a deposit and start using 24Option.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84.94% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
24Option Review updated for 2019.
Spreads vary depending on the traded asset. Please check it on the 24Option page after registration.
|Excluded countries||Belgium, Switzerland|
|Languages||Arabic, English, French, German, Italian, Portuguese, Russian, Spanish|
|Licenses||IFSC - license IFSC/60/440/TS/18; CySEC - 207/13.|
International details (if not provided others):
39 Kolonakiou Street, Ayios Athanasios, Limassol CY-4103
Zuidplein 36, Amsterdam 1077 XW