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An industry pioneering trading platform for the savvy binary options trader, the multiple award winning 24Option is easily one of the leading binary options brokers on the market.
Whether you just started or been around the binary options trading block for a while, chances are this 24Option broker was probably one of the first names you came across. Launched in 2009 on the web based Tech Financials trading platform (so no software to download on your computer, which is an automatic bonus in our books) 24Option has continued to innovate and create a binary options website designed to get you trading quickly with a wide variety of Binary Options underlying assets available on world markets.
The 24Option binary options trading platform and user interface, for lack of a better word, is fantastic. Now don’t worry, we’ll have plenty to say about all the things that aren’t so great with this top binary options broker, but you have to give credit where credit is due, and this broker does one thing perfectly, and that’s create a clear easy to use navigation system that simplifies the trading process.
For example, the financial trading charts and the on-line-live information isn’t hidden ten pages away, if you click on the options asset you’re interested in (not a group, a section or country) a small tab will pop out just above the asset with information by trusted third part financial news agencies, as well as general financial charts and information.
An interesting instrument, and one that needs getting use to if you’ve played around with other binary options trading platforms, is the fact that 24Option put a big emphasis on short term trades. Clearly catching on to the rising 60 second binary options expiry trade, they arrange their list of financial underlying assets from the shortest to the longest expiry times – clearly appealing to the high risk / high loss or high profit options traders.
But even if you’re more conservative in your trading methods, and once you get around this little quirk, you’ll find a solid binary option trading platform to make your trades in any of the ways you want to, including hourly to day long trades.
24Option have a wide range of underlying assets to choose from and has increased over the last few years. To be fair, if you are going to trade in what you know, you only need to be sure they have what you like available, even if you can’t find some of the more obscure commodities and stocks.
Here’s the good news. Whilst we don’t often recommend when reading our binary options review that you pick a broker solely based on their average return, in the case of this 24Option broker, we only have good things to say. With in the money returns going up to 88% on successful trades this is among some of the best numbers you’ll find in the binary market. Just beware that like at all other binary options sites you can lose all your capital. It wouldn't be gambling if you couldn't.
One limiting factor for beginners to be aware though, is that the minimum trade is a little higher than usual, at an average of 24$ and above. However this shouldn’t dissuade you if you know what you’re doing and the minimum investment actually changes from asset to asset, so you’ll have some flexibility depending on the financial markets you choose.
Let’s start with the first obvious downside; 24Option minimum deposit amount is 250$. Some of you out there won’t even blink at the price, but those of you looking to dabble in the field of binary options and financial betting you might view it differently. This is quite a way above the average minimum deposit fee of the industry, which is usually only at 100$, so beginners might start looking elsewhere to do a smaller deposit. But before you do, bear in mind that 24Option is regulated by CYSEC. In other words, your money is safe and the features they offer when choosing this binary trading platform far outweigh the short term timidity of wanting to deposit a smaller amount, in our opinion.
The 24Option withdrawal process is fairly standard and we’ve had no problems so far (if anyone out there has a different story, we want to know about it! The requests are fairly standard in the industry and on average takes about 3 to 5 days with no maximum amount you can withdraw. Withdrawals will be made back to the original fund source and the following documentation will be asked for on your first withdrawal:
If you want to quicken the process, choose a trusted e-wallet like Skrill(Moneybookers) as less ID is needed.
Minimum wire withdrawal amount: 10 $/£/€ or 10,00JPY – which is fair considering your minimum deposit is more than the minimum withdrawal amount. But the question remains, why not make the minimum deposit also 100 $/£/€ and make it more welcoming for all?
If you are a VIP binary options trader, you get one day withdrawal and no fees.
With being a CySEC regulated broker you can rely on your deposits and withdrawals being safely handled and it ensures a smooth process.
When you’re handling your bets and money, you want to be sure you can talk to someone as soon as possible if anything goes wrong.
24Option customer support staff are located in offices around the globe, so the language support they provide is impressive, with local numbers in Cyprus, United Kingdom, Spain, Italy, Romania and Norway.
Live chat is also available in multiple languages, although if you want 24 hour chat, chances are you’ll be speaking to a representative in English, with the local languages only working during standard trading hours.
Still, a small price to pay for 24 hour contact. If all else fails and your issue is not urgent, then there is always good old fashion email.
There is a 24Option iPhone and Android app available in the respective stores so that you can download and start trading on the go. Their site and trading platform is also available without the need to download. It's an extension of their online trading website dedicated to making it easier for you to trade whilst on the move. This means that there is no need to update or download anything to get started just visit the 24Option site from your mobile and you can start trading binary options instantly.
Now what devices are supported by the mobile version you might be asking? If you have a smartphone then you are pretty much covered. iPads and tablet devices are also supported and your experience enhanced for the device you are on. Their mobile binary options trading site comes with the same restrictions as their desktop counterpart meaning that it is available 7 days a week 24 hours a day.
If our 24Option review above made you slightly skittish as a beginner, then this section should make you feel better. They love giving tutorials to newcomers to their trading platform. For example you get a whole selection of downloadable eBooks where you will find in depth information about how to start trading on their platform, as well as helping you analyse how to choose the binary options to fit your needs.
If you’re more of a visual person, there are also plenty of videos to keep you entertained for hours, from the basic to more advanced trading strategies. And if you fancy a bit of both worlds, the interactive eBook, with articles, videos and incredible insights will be just your thing. Great for beginner traders to learn more about binary options.
Once you feel comfortable and want to ‘test’ your skills without committing to a deposit, you can ‘play’ with virtual money in a demo account until you are comfortable investing for real.
For the more advanced trader, their twice weekly webinars will keep your skills sharp and get you thinking beyond the obvious trading strategies, but more importantly, the analytical trading tools within the platform are pretty comprehensive.
From using third party financial market outlets (such as Yahoo) to bring you the latest news, as well as list of the major market indicators (APICS Survey etc..), to a transparent expiry calculation – 24Option have done everything but stripped back the website and showed you the code, to reassure you that they meet the highest standards on the web. They also have an early closure tool built in to all their trades, a very useful strategy for the more seasoned trader.
New Feature: Traders Choice. The 24Option site has introduced a new feature to their trading platform where you can mirror the patterns of top traders in almost real time. This allows you to develop your skills and find out what some of the most profitable traders are doing. A great way to learn and has the potential to increase your profits through enhanced knowledge.
You will have to sign up for a free trading account to access most of these tools – but you will need to make your first deposit to be able to access it. This only takes a small amount of time and it is worth doing if you want to learn about binary options and their trading platform, but as we are a helpful lot, here is a link to their detailed guide so you can have a quick peek before giving them your details.
24 Option is a binary options broker that continues to grow from strength to strength. Beginners might shy away at first due to the above average minimum deposit and betting limits, but with the vast amount of educative tools available, it shouldn’t be discounted. There are many reasons why this is a great binary option site for traders from all walks of life.
The simplicity and ease of use of this trading platform, as well as the innovative environment to trade, make 24Option one of the stars of the industry. Sure, you’ll find some brokers out there with more financial assets, option instruments and more advanced trading tools or methods, but few provide as good all round package.Start Trading with 24Option »