24Option Review: Account Types, CFDs, Safety, and More
Published October 12, 2021.
24Option is primarily a binary and options broker created by the Cyprus Securities and Exchange Board in 2008 and has its offices in Limassol, Cyprus. In its beginning, 24Option began as a pure binary options broker, but it has recently added other, mostly commercial, assets and tools you can access on their website. In addition to binary and options assets, 24Option offers other assets, like CFD stocks and Forex, some of the most popular assets.
24Option Account Information
For newly registered traders, 24Option trading offers 4 distinct types of accounts, which include
Basic Account
A good choice for beginner and intermediate traders. The minimum balance required for this account type is $250, but the benefits you receive are minimal. With a Basic account, you'll get beginner-friendly educational material and daily news.
Gold Account
Users of the Gold account get access to two lessons regarding trading strategies, and access to one webinar per month. The minimum balance required to have a Gold account is $5,000
Platinum Account
Traders with a Platinum account get better trade prices, three strategies for advanced traders, and access to two webinars per month. Additionally, the trading prices are significantly better when compared to the other account types. You'll also get three free withdrawals each month.
VIP Account
The VIP account is limited to a small percentage of traders, as it requires a minimum account balance of $50,000. With a VIP account, you get five advanced lessons and five monthly webinars with experts, in addition to unlimited withdrawals. You'll also get to contact a 24Option account manager.
The broker also provides its traders with the option to establish a demo account in a risk-free environment and test their tactics.
Minimum Deposit and Withdrawals
To sum it up with some details:
The minimum deposit 24Option required is set at $250, with equivalents in other currencies.
For payouts, remember that 24Option withdrawals are reimbursed at the deposit source. Thus, your 24Option investment can only be returned using the same payment method as the deposit one. Regarding withdrawal fees, they're usually set at around 2-3%, depending on your withdrawal method and account type.
How Do You Withdraw Money From 24Option?
The withdrawal process at 24Option is simple.
Follow the next steps:
- Log in to your 24Option account
- Access the Banking menu
- Click the Withdrawal tab
- Enter the amount you wish to withdraw
- Fill in the required fields
- Hit Withdraw
Is the 24Option App Worth It?
The 24Option mobile app is an easy-to-use mobile trading platform, which is available for downloads on Android, and iOS devices, and is free.
Once you tried it, you'll notice that the app has a clean, straightforward design, and is intuitive to use. The big blocks and buttons make the app easy to operate, so even new users will find it simple. In the app's UI, you'll find other useful info, like trading hours and real-time updates.
All in all, we think that the trading app is an excellent addition to 24Option’s variety of services. Each version has been developed to make use of the entire range of features on several devices, offering all Android and iPhone users a tailored experience.
How Do You Trade With 24Option?
Even in the rather basic industry of binary, Forex, and CFD trading, 24Option did its best to be distinctive. The design of this trading platform's website is in line with the brand, being easy to use and operate.
Starting from account creation, the 24Option registration process is quite simple, taking only a couple of steps to complete. After finishing it, you can easily access the website and go have a great trading experience.
Types of Assets Available
The types of trades you can do can be found in the menu in the upper left corner, including convenient ones like stop-loss trading. Here, you can choose from 24 Option Forex and 24Option CFD assets. You can also use MetaTrader 4 when trading at 24Option.
Information of Corresponding Assets
Later, the corresponding assets will be displayed below. Whichever you select, the asset's information and price chart on the right will be shown and updated in real-time. The trading area is also well-design, but the amount of data offered could be overwhelming. On the website, you can always see other important details, like your history of closed transactions and the profits you've acquired.
Provide a Signal Service
It's also worth mentioning that users have access to the 24Option signal service through the website. Still, remember that 24Option Forex signals should be regarded with some precaution. Of course, they can be an extra instrument to confirm or potentially close certain transactions. You can find 24Option's signal services under the "Open Trade" button, on the label "Trading Alerts".
Free Instructional Material for Beginner Traders
On its website, beginner traders can largely benefit from the whole instructional material offered. In fact, 24Option UK offers free access to big publications on popular subjects like day-to-day market and technical analysis.
Is 24Option Legit?
24Option is legit and a regulated broker. They offer the high-quality services that they advertise, and the customer experience here is above-average. All in all, we think that this trading platform is trustworthy and probably worth a shot. Doing banking with this broker is also quite convenient, as 24Option withdrawals are payable at request. In one sentence, we're confident that 24Option is a safe and worthwhile broker.
