24Option Broker Review 97

24option is an online forex, CFD, and cryptocurrency broker operating out of Belize under the registered Belize investment firm Richfield Capital Limited.

24option’s website is well-designed and easy to navigate, and it is available in four languages; English, Spanish, Russian, and Arabic.

As a heads-up before you sign up, note that 24option currently cannot accept clients from any countries within the European Economic Area, Switzerland, the United States, and British Columbia, Canada.

24option offers up to four different account types for new traders to choose from: Basic, Silver, Gold, Platinum, and Diamond.

 

Regulation

Richfield Capital Limited and 24option is fully regulated and authorized to operate by the International Financial Services Commission of Belize. The company holds the relevant license for doing business related to Trading in Financial and Commodity-Based Derivatives and Other Securities, with license number IFSC/60/440/TS/15-16.

The company’s principal place of business is No. 5 Cork Street, Belize City, Belize. Their Belize company registration number is 156.881.

 

Assets

24option offers a very large selection of trading assets to choose from, including stock and index CFDs, a huge selection of forex pairs, commodity CFDs, and cryptocurrency CFDs.

In fact, 24option was one of the first forex brokers to offer CFD trading on cryptocurrencies. The leverage offered on trading cryptocurrencies like bitcoin and ethereum is up to 1:10, which is unusually high in this industry. A leverage like this will enable crypto traders to make big profits on price movements in cryptocurrencies, even if they don’t have a large trading account to start with. 24option currently offer CFD trading on bitcoin, ethereum, ripple, and many other popular cryptocurrencies, with new coins being added regularly.

In terms of traditional currency pairs available for trading, your choices are almost limitless with 24option. In addition to all the major currencies normally offered like the EUR, USD, and JPY, the broker also offers trading in currency pairs not usually available to retail forex traders like the Israeli shekel (ILS), the Hungarian forint (HUF), and the Turkish lira (TRY).

In addition to all this, traders can trade CFDs based on exotic commodities like sugar, coffee, cocoa, and crude oil. These commodities offer lots of opportunities to try out different kinds of trading strategies that may not perform so well in the forex market, like trend-following or different types of news plays.

 

Trading Platforms

You can trade with 24option on the extremely popular MetaTrader4 (MT4) platform or directly on the broker’s own easy-to-use web-based trading platform.

The MT4 platform has already been around for years and should be well-known for most forex and CFD traders by now. Although it can seem a bit complicated at first, it is a reliable and trusted platform for thousands of retail traders worldwide. MT4 also offer lots of opportunities for coding trading robots, known as Expert Advisors, as well as following other traders’ EAs. It boasts the world’s largest marketplace for trading robots and custom technical indicators.

 

Deposits and Withdrawals

The minimum deposit required to start trading with 24option today varies depending on the payment method you choose – either credit card, electronic payment, or bank wire transfer:
Credit card: USD/EUR/GBP 100
Electronic payment: USD/EUR/GBP 100
Bank wire transfer: USD/EUR/GBP 1,000

The broker also has maximum deposit amounts which vary by payment method. When using credit card, these limits are:
Per day: USD/EUR/GBP 10,000
Per month: USD/EUR/GBP 40,000

Trading accounts can be funded through lots of different payment options, including Visa, MasterCard, Discover card, Skrill, and bank wire transfer. If you make your deposit from a credit card, it should appear in you trading account immediately. Deposits made via wire transfer may take up to 5 business days to appear in your trading account.

Accepted currencies for funding an account are US dollars, British pounds, Japanese yen, euros, and Russian rubles. Multiple currencies may be used for the same account.

In order for the company to process a withdrawal from your trading account, you will need to provide some basic documentation such as:
Official government-issued ID
Proof of residential address not older than 6 months (bank or credit card statement, or a utility bill)
Copy of front and back of credit card showing only the last four digits (if credit card was used to make the initial deposit)

The standard withdrawal fee is USD/EUR/GBP 35, except for Platinum and Diamond account holders who will have free withdrawals. The minimum withdrawal amount is $10 in addition to the withdrawal fee.

Withdrawals are always processed quickly by the team at 24otption as long as all required documentation has been submitted.

 

Account Types

24option has quite a few different account types traders can choose from depending on their individual needs and available trading capital:
Basic: USD/EUR/GBP 100 deposit required
Silver: USD/EUR/GBP 2,500 deposit required
Gold: USD/EUR/GBP 25,000 deposit required
Platinum: USD/EUR/GBP 100,000 deposit required
Diamond: USD/EUR/GBP 250,000+ deposit required

The Gold account is the company’s most popular account type, offering benefits like a free MetaTrader4 one-on-one course, free wire deposits, and a dedicated senior account manager. In addition, Platinum and Diamond accounts have free withdrawals as an extra benefit.

 

Trader Education

The educational materials that are available from 24option is a true hidden gem of this broker. They do their utmost to constantly create valuable content for new traders to take advantage of, including a range of free ebooks, trading strategies, webinars, and articles.

The team at 24option also go to great lengths to keep their clients up to speed on everything that is moving the financial markets with their daily market commentary, covering everything from stocks, forex, cryptocurrencies, commodities, as well as a list of important upcoming economic news releases.

 

Customer Support

One factor that really distinguishes 24option from its competitors is the superb customer service the broker offers. Clients and anyone else interested can reach out directly to customer support via the live chat function on their website. When tested by ForexKingz, a friendly support agent answered all questions to our satisfaction in just a couple of minutes.

Alternatively, customer support can also be reached via a support form on their website or via email at info.int@24option.com.

 

Conclusion

To sum it all up, it is clear for us that 24option has earned their reputation as one of the most trusted online forex and cryptocurrency brokers out there. The broker has successfully transitioned from being a traditional binary options broker to now offer a broader specter of trading assets, including cryptocurrencies that can be traded on leverage, offering traders huge opportunities to profit from this emerging asset class.

We have no problems with recommending traders to sign up with 24option and start trading either via their own intuitive web-based platform or on the good old MT4 platform.

The impressive offering by 24option means that the broker has truly deserved to be ranked as the number 1 broker by ForexKingz.