24Option Review

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Who are 24Option?

24Option are one of the best known brokers in the online market and have recently increased their online trading services by offering a suite of trading platforms for forex and CFDs. It is interesting to see a well-known and reputable brand entering the competitive world of FX and CFDs trading. They have been established since 2009 and are fully regulated by CySEC and IFSC.

With 24Option you have 5 types of accounts: this makes the brand particularly attractive to beginners as it has also an easy one click trades that will get anyone going in few minutes. They also have exotic currency pair spreads as low as 7 pips. Makes no mistakes 24Option also have full accounts for experienced traders: the higher you go the higher is the deposit required but in return you have lots more features and tools. So there is a basic account which is perfect for new starters but also silver, gold, platinum and diamond. If you are a muslim you will also have an Islamic account where there is not interest on balances.

What are 24Options Spreads and Fees?

Considering that 24Options are a new entrant in the forex/CFD trading industry they have very competitive spreads. Even if you are looking to trade the hottest currency pairs in the market like EUR/USD you can get as low as 0.0003 pip which is definitely an advantage over the competition.

How good is 24Option Trading Platform?

When opening an account with 24Option you will be offered two types of trading platforms. They have the enhanced Scipio or the popular MetaTrader4 that can also installed on mobile devices so that you can use on the go with Apple’s iOS and Google’s Android. The inhouse trading platform also offers some unique features and you can trade without bugs and in a very intuitive way Forex, commodities, CFD as well as the binary options trading. On 24Option you can also trade a number of cryptocurrencies like Bitcoin, Ethereum, Litecoin, Dash and others. One of the best things about 24Option is that they have more than 150 underlying assets made of commodities, stocks, indices, currency pairs and even cryptocurrencies. This give traders a lot more opportunities and also allow a much more flexible approach which is surely a very good thing about this reputable broker.

Design

24Option have a very good trading platform and compared with the others brokers have a functionality that allow to switch very quickly and easily from forex to CDs trading without the need to open or closing any browser tab on your computer or device. You can simply click on the list at the top of the platform to start trading as you like.

24Option design

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Deposits and Withdrawals

In order to open a live trading account you only need a minimum of £100. 24Option also give the opportunity to trade with micro lots for as low as 0.01: this makes it easier for traders to invest with lower risks. In regards to deposit and withdrawals, 24Option are one of the best as they do support most credit and debit cards and also have other payment methods like Paypal, Neteller and other e-wallets. If you prefer Wire Transfers this is also possible both for deposits and withdrawals. So all the options are there and you have lots of flexibility when transferring funds in and out of your account.

Customer Service

We have trialled their customer service and we haven’t had a single problem. We tried to phone, email and live chat with agents and we got always someone to discuss our questions and concerns. They are available 24/7 so you will also get agents at your disposal anytime you need and in the language that you prefer.

Conclusion

It is great that 24option has now entered the forex and CFDs trading market as they offer a very good product. With their full-feature platforms, very flexible trading condition and their superb customer service they can offer a product that will be of interest of any trader regardless of the experience. It is not surprising to see why they are such a well-established and reputable brand and already a popular choice among forex and CFD traders.

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24Option Key Information

  • Funded – 2009
  • Regulation: CySEC
  • U.S. Clients Allowed: NO
  • Min Initial Deposit: £100
  • Max Leverage: Leverage Up to 1:400 Leverage restrictions apply
  • Spreads From (EUR/USD):Based on Account Type

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Your capital is at risk

PROS

tickRegulated by (IFSC) in Belize & CySEC

tickWide range of instruments including cryptocurrencies

tickTight spreads

tickMin. deposit from £100

CONS

ConsDemo account valid for 1 week only

(see alternatives)

ConsNot FCA Regulated (see alternatives)