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Intro & Platform Review
A brand name owned by Rodeler Ltd, 24Option is a leading binary option trading platform that is based in Limassol Cyprus. Authorized by the Cyprus Security Exchange Commission (CYSEC) with the license number 207/13, 24Option is one of the first handful of binary platforms that sought regulatory oversight under CYSEC, back when CYSEC first undertook the regulation of this industry.
Unlike the majority of the binary brokers in the industry, 24Option uses a Tech Financials powered trading platform. This makes their trading platform quite unique when compared to other platforms. For example, their platform is the first binary trading platform with an integrated trading alert system.
One the few things which makes 24Option stand out from the rest of the pack is their large offering of currency pairs. At present, they offer traders up 30 different types of currency pairs.
As mentioned earlier, the 24Option platform also boasts of an integrated trading alerts system. This innovation is revolutionary as most binary signal services are provided by a third party and not in-house.
Another feature about 24Option which makes them stand out is the availability of daily one touch options and weekly one touch options hence combining the best of both worlds, high yields and daily accessibility.
Assets & Payouts
With more than a hundred different types of underlying assets on offer, traders at 24Option will certainly be spoilt for choice. They can choose for 43 different types of stocks, 11 commodity related options, 30 currency pairs and 19 types of market indices.
Depending on what is being traded, the returns offered by 24Option vary averagely from 70% to 89%. For one touch options, the returns go up to as high as 310%. There is even a rebate of 15% if you are unsuccessful with your trades.
License & Regulation
In addition to being regulated and licensed by CYSEC, 24Option is also registered with several other European regulatory agencies such as the Autorité des Marchés Financiers (AMF) in France, BaFin in Germany, CONSOB in Italy and the Financial Conduct Authority (FCA) of UK.
The key benefit of dealing with a regulated broker is the fact that you always have someone to turn to for dispute resolution in the event there is a dispute between you and the broker. Another factor that should weigh heavily on a trader’s mind when selecting their broker is the ability to claim compensation should their broker turn insolvent. With 24Option, traders do not have to worry about this aspect as 24Option is a member of the Investment Compensation Fund scheme. The fund entitled traders to claim up to a maximum of 20,000 euros.
• Attractive Cash Prizes for Trading Competition
• Extensive list of underlying assets for trading
• Professional Customer Support
• Robust and Advanced Trading Platform
• Support Multiple Languages
• Wide Range of Benefits and Incentives
• Need to deposit $250 first before access to the demo account is granted
From the fact that 24Option is licensed and regulated by CYSEC, we can deduce that they are a legitimate operation. The warm and friendly service provided by them certainly makes a refreshing change from the cold and impersonal service which other brokers are accustomed to providing.
For those who are interested in opening a live trading account at 24Option, their minimum deposit requirement is just $250. As for their minimum trade size, you can trade with as little as $24 per trade. While the services offered by 24Option are outstanding, it is their regular trading competition that will really blow your mind away. They don’t baulk at offering tens of thousands of dollars in prizes to the winners of their competitions. So all the more to choose them as your binary options broker at the end of the day.