24option A user-friendly interface awaits you at 24option, seamlessly combining innovative technology with a diverse array of trading possibilities. Whether you're just starting or have years of trading experience, 24option is committed to empowering all traders by offering a wealth of educational resources, such as daily news updates, interactive webinars, and more.
The driving vision behind 24option is to democratize access to financial markets through a simple, easy-to-navigate platform. With a strong ethos rooted in integrity, the broker shines a spotlight on four key commitments. They aim to connect traders with a plethora of daily opportunities, ensure users remain in control of their own trading destiny, and provide personalized options catering to individual preferences. With over 100 tradeable assets, they deliver both professional and personal support, guiding clients every step of the way.
Trading CFDs can be risky due to leverage. On average, 84.94% of retail investor accounts face financial losses with this provider. It's essential to evaluate your understanding of how CFDs function and assess whether you can handle the potential financial risks involved.
24option Account Types
Dive into 24option’s account options, all designed to fit your particular needs. From your initial registration, you can jump into trading or opt to consult with an experienced Account Manager to tailor an account that aligns with your ambitions.
Basic Accounts offer introductions to the platform and financial markets, specialized account managers, access to webinars and seminars, a demo account funded with 100,000 credits, and daily market updates.
Silver Accounts enhance this with insights into risk management, zero maintenance fees, and a personalized tutorial on understanding various analyses such as sentimental, technical, and fundamental. You’ll also get strategies tailored to short, medium, or long-term preferences.
Gold Accounts give you access to senior account managers, Trading Central, complimentary withdrawals, and personalized MT4 training, while Platinum accounts benefit from preferable spreads. Account upgrades are possible, given the green light from 24option.
To kickstart your journey with 24option, create an account via their homepage or by clicking 'Sign Up' in the website's top corner. A starting deposit of $250 is necessary, and as soon as it goes through, you are ready to start trading.
24option Asset Coverage
24option provides a diverse range of assets, emphasizing CFDs and forex trading. CFDs are derivative products, allowing trades based on asset price fluctuations without possessing the asset itself, making it appealing for lower initial transactions. With them, you predict market trends, buying for price increases or selling in anticipation of falls.
In addition to CFDs, 24option offers forex, which involves simultaneous currency exchanges to capitalize on valuation shifts. The high daily trading volumes in forex ensure significant liquidity, especially with major currency pairs. Small initial investments are viable here, but leverage use can magnify both potential profits and losses, requiring advanced skill and understanding.
24option extends its CFDs trading assets to include cryptocurrencies. They accommodate trading of the top five cryptocurrencies alongside other CFDs like commodities, stocks, and indices.
Exploring trading with 24option? Let’s talk about the gadgets you can use.
Their main portal features a web-based trading platform without the need for downloads. It's compatible with current versions of major browsers, including Explorer 8.0, Google Chrome 4.0, and Firefox 3.6. Bear in mind, you’ll need Flash and JavaScript active to utilize every feature on the 24option site.
Alternatively, trade on-the-go with mobile apps available for both Android and Apple devices. Whether using the 24option's web trader interface or the MetaTrader 4 platform, which supports desktops, browsers, and mobile gadgets, the choice is yours.
24Option Web Trader
The design of 24option’s web trader mirrors those of other brokers, ensuring users quickly acclimate to its functionalities. The screen’s left side hosts a comprehensive list of assets, each annotated with its latest bid, ask, fluctuation, and high/low points. Browse or use the top-left search bar to locate your desired instrument, with filters for asset types such as forex, cryptocurrencies, commodities, stocks, indices, and favorites.
Dominating the screen’s right section, you'll find the live graph for your selected instrument, though an alternative exists to display just the order form. Unfortunately, viewing the graph and order form simultaneously isn’t an option.
Below the chart, access real-time updates on your open trades, categorized by trade number, initial time, symbol, lots size, and type. Adjacent tabs provide your orders and trading history, while to the right lies an integrated Economic Calendar detailing currency impacts, forecasts, and more. Directly to the right is the daily market overview.
Trading Interface
The standard graph setup includes candlestick charts, with alternatives like dots, area, line, Heikin Ashi, or HLC available for selection by clicking the chart’s top-left corner.
The three-dot drop-down also lets you adjust the chart’s time intervals, ranging from 1 minute to monthly options, and facilitates zooming in or out. Additional zoom settings include zoom left, right, view all, or default. Further below in the drop-down, manage pointer visibility and shape deletion or duplication within the chart.
Underneath these options is a suite of drawing tools, such as various lines, arcs, ellipses, trend indicators, and more. Advanced instruments include Fibonacci retracement, multiple other Fibonacci tools, Gann fans, cycle lines, and regressions. Launch the Indicator Wizard at the menu’s base to explore indicators organized into categories—Trend, Oscillators, Customize, or Bill Williams.
Despite the chart tools' richness, many traders may find navigating through the long drop-down menu somewhat cumbersome. Other platforms simplify access by segregating these tools into dedicated menus.
The graph’s top-right presents full-screen viewing: selecting this keeps everything in a single menu. Hovering over any graph point reveals specifics like prices and times.
How to Trade on 24option
To place a trade, access the 24option platform, closing the chart to see the order form. Choose your instrument from the screen's left, entering the trade volume in the form, which automatically updates the pip value. If desired, activate an alert to open trades once the rate hits a specified point, then enter a value. Execute trades by selecting Sell or Buy, with options to set 'Close at loss' or 'Close at profit,' adjusting either by pips or rate. Once set, click 'Trade' to proceed.
You have the option to engage in trading at the current market rate. Positioned right below the choice to 'Open trade when rate reaches,' a Sell button sits on the left while a Green Buy button appears on the right. Each provides a specific figure, with the pip spread visible between them. This figure represents the necessary points the asset needs to cross for your trade's success. Just hit the appropriate button and then click Trade to execute a market value trade.
Mobile Applications
The 24option mobile app is available for download on both iOS and Android devices. Regardless of the platform, the app mirrors the functionality of 24option's web trader, including access to the Education Center. With 12 language options, the app caters to a diverse global audience. Users can utilize it for executing trades, managing asset portfolios, reviewing historical transactions, and keeping up with live news updates.
Supported Currencies
Upon setting up an account with 24option, you will be given the option to select your trading currency of choice. Unlike many other platforms, 24option allows multiple currencies within a single account, which many traders find beneficial. You can designate U.S. Dollar, Japanese Yen, British Pound, Euro, or Ruble as your account's primary currency.
24option Deposits
24option provides an extensive array of deposit methods, although specific options can vary depending on your country. Available methods include credit and debit cards such as Visa, MasterCard, and Discover, wire transfers, as well as options like Diners, JCB, Neteller, Skrill, and many others. To find detailed options applicable to your region, visit the Banking section under the Forex/CFD tab in the My Account area. Selecting your country from the drop-down menu will display a comprehensive list of deposit and withdrawal methods.
It’s crucial to note that the minimum deposit for 24option varies based on your chosen funding type. For credit cards and electronic payments, the minimum starts at $100 or equivalent in other major currencies. Wire transfers, however, have a slightly higher minimum of $1000. Each payment method also has a maximum deposit threshold, which can be clarified by your account manager if dealing with transfers beyond the set limits. Be aware that 24option holds the right to adjust these limits at their discretion.
Deposits via credit cards and electronic payment systems are typically credited instantly upon receipt by 24option. In contrast, funds sent through wire transfers can take up to five business days to show in your account.
Deposit Bonus
24option does currently offer a deposit bonus A scheme known as the First Deposit Trading Bonus offers traders a bonus equivalent to either 25% or 50% of their initial deposit or $500, whichever amount is less. Full details of the bonus can be found in 24option's Legal section or by consulting an account manager.
24option Withdrawals
With 24option, the withdrawal methods mirror those available for deposits. You can verify the options specific to your country in the same Banking section where deposit methods are listed. Initiating a withdrawal is a simple process: access the banking page of your account, select Withdrawal, fill in the necessary details, and proceed by clicking Next.
Like many brokers, 24option adheres to a policy of routing all withdrawals back to the original payment method, a measure designed to combat money laundering. If the withdrawal exceeds the initial credit card deposit, the surplus will be processed via wire transfer.
To enhance security and maintain anti-money-laundering standards, 24option requires documentation verification for the first withdrawal. Required documents include a photo ID, such as a government-issued ID, driver’s license, or passport, and a recent utility bill or financial statement for address verification. Additionally, if deposits were made with a credit card, photos of the card's front and back showing only the last four digits are necessary. Notification and guidance will follow any required documentation requests via email.
The minimum withdrawal amount at 24option is set at $10, with the maximum limited to your current account balance. Withdrawals can be requested anytime, but 24option processes them only during business hours. Their priority is to handle these requests swiftly.
24option Withdrawal Fees
Withdrawal fees at 24option differ with account types; Platinum and Diamond accounts enjoy fee-free withdrawals. Basic, Silver, and Gold accounts incur fees according to currency: fees start at 35 USD/EUR/GBP, with specific charges for alternative currencies like CNY and JPY. Wire transfer withdrawals are charged a fixed fee, while costs for credit card and e-wallet withdrawals vary and may incur additional intermediary bank fees.
24option Fees
24option implements inactivity fees for accounts that go unused for two months or longer. The charge starts at 80 EUR for two months, increasing with duration. These fees replace monthly maintenance charges and are converted from EUR if needed, reflecting daily exchange rates.
Monthly maintenance charges of 10 EUR apply, but an inactivity fee supersedes this if applicable. 24option does not impose charges for deposits, commissions, or financing.
Understanding maximum lots, trade size limits, leverage, and margins.
Regardless of the account type, 24option sets a 125% margin call level and a stop-out level ranging between 20% to 100%. Maximum trade sizes for forex pairs vary, classified into different groups available for viewing in the Legal tab. Maximums for other assets, including stocks and indices, are also clearly defined.
Personal Information
To safeguard client data, 24option employs state-of-the-art methods, such as a 128-bit SSL encryption certificate from Thawte, ensuring secure transmission of all data.
CFD Strategies
In addition to a robust education section, 24option offers insights into fundamental CFD trading strategies. A beginner-friendly approach advises focusing on just two or three markets to develop expertise. This methodical strategy helps traders master specific areas before expanding.
Another tip given by 24option is to determine your preferred trading timeframe. This can range from longer spans like weeks or months to short intervals of mere minutes, with the choice hinging on each trader’s unique style and comfort level.
24option urges traders to maintain a solid trading plan, both for CFDs and other instruments. Effective strategies include pre-market research and clearly defined goals, entry, and exit points, minimizing risks tied to emotional trading pitfalls.
Forex Strategies
For forex enthusiasts, 24option gives specific advice starting with choosing active trading hours for currency pairs. Those trading forex full-time should align with periods of USD activity, while others need to accommodate their schedule and timezone differences.
Longer forex trade timeframes are recommended, especially for part-time traders, offering more time for thorough analysis. Full-time traders may also benefit from the extended research period these longer trades allow.
As with any trading form, 24option stresses the importance of an actionable forex strategy, encompassing directional goals, the rationale behind market predictions, precise entry and exit points, and stops for unforeseen scenarios.
What variety of trading approaches does 24option provide insights into?
24option's educational portal also explores key trading analyses, providing guides on both technical and fundamental approaches. The section includes explanations of these methodologies alongside tools and indicators for successful strategy execution.
Educational Materials
Beyond the previously noted guides on CFD and forex trading strategies, 24option enriches your understanding with a comprehensive glossary dedicated to CFDs, acquainting you with the terminology crucial to research and trading activities. Deepen your knowledge with a guide on cryptocurrencies, which covers everything from their brief historical overview to insights on popular cryptocurrencies, including those offered as crypto CFDs by 24option. The guide provides a snapshot of the cryptocurrency market dynamics and demonstrates how cryptocurrencies are traded on 24option.
A standout educational tool from 24option is its interactive eBook, a visual journey through the worlds of CFDs and forex. Covering topics that range from thorough glossaries and proven trading strategies to market analysis and trading psychology, it also includes quizzes at the chapter's end to test your knowledge. If you prefer video lessons, 24option has an extensive library of on-demand videos for traders at various levels, such as basic and advanced forex series or an introduction to CFDs. Additionally, account holders have access to free webinars, which provide in-depth discussions on diverse topics and encourage participant interaction through questions.
What Other Tools Does 24option Offer?
The 24option platform features a news feed supplying daily market reports on key markets and specific assets, along with other significant news impacting forex and CFDs. Alternatively, users can access daily financial news summaries in both text and video formats. Unsurprisingly, a detailed economic calendar is available, listing dates, currencies, messages, impacts, and figures relevant to significant events.
Trading Central subscribers benefit from Advanced Market Analysis, which offers real-time and historical data that assists traders in identifying trends and patterns. With a repository of over 8,000 assets, including forex, stocks, and commodities, Trading Central offers in-depth commentary and data. Users can set alerts for updates on preferred assets, delve into comprehensive technical analysis reports, leverage indicators, and employ Japanese candlestick signals.
24option Customer Support
In its commitment to offering both personal and professional assistance, 24option provides several contact methods, including live website chat, email, and phone support. While browsing the 24option website, you'll notice a convenient live chat icon permanently situated in the page's bottom-right corner. Alternatively, the Contact Us section allows users to submit an inquiry form for email responses.
Exploring the Contact Us page reveals a global map pinpointing customer support locations for each region serviced by 24option. Selecting any pin displays specific regional website details, email addresses, and contact numbers, including separate ones for general inquiries, faxes, customer service, and affiliates. Alternatively, users can choose their country from a dropdown menu that navigates directly to the appropriate map pin, displaying the corresponding details.
24option Location and Regulations
24option operates under the regulation of two authorities: Rodeler Limited is licensed and supervised by the Cyprus Securities and Exchange Commission (CySEC) under license number 207/13.
CySEC licenses Rodeler to provide multiple Investment and Ancillary Services, including:
- Accepting and transmitting orders tied to financial instruments
- Executing orders on behalf of clients
- Ensuring the safekeeping and administration of financial instruments, including custodianship and associated services
- Providing credits or loans tied to financial instruments, circumstances where the credit-granting firm participates in the transaction
- Delivering foreign exchange services related to investment offerings
Richfield Capital Limited operates under the authorization of Belize's International Financial Services Commission, with license number IFSC/60/440/TS/18. Situated in Unit 313 at No. 16 Cor. Huston and Eyre Street, Blake Building, Belize City, Belize, the payment agent for Richfield Capital Limited is Wonderbridge Services Limited.
Due to legal constraints across various jurisdictions, 24option restricts services in Switzerland or the European Economic Area and does not operate within the USA, British Columbia in Canada, and a few other areas.
Conclusion
As a broker, 24option provides its trading platform, accessible from web or mobile devices, and integrates with MetaTrader4. They emphasize CFDs, cryptocurrencies, and forex, offering a broad selection of CFDs covering multiple crypto assets.
Established in 2009, this broker is known for its regulation, enhancing trader confidence, and presents an intuitive platform offering access to an array of assets and comprehensive educational resources.
The trading platform is exceptionally crafted, ranking among the finest we've encountered for such brokers, ensuring effortless navigation and trading for both beginners and experts.
Feedback from 24option clients online highlights responsive customer support, known for prompt and effective responses to any inquiries.
Remember, when trading CFDs, caution and a well-devised strategy are essential as losses are possible, notably when leveraging trades.
Trading CFDs can be risky due to leverage. On average, 84.94% of retail investor accounts face financial losses with this provider. It's essential to evaluate your understanding of how CFDs function and assess whether you can handle the potential financial risks involved.
24option
Pros
- Regulated by CYSEC and IFSC
- Good Trading Platform
- Cryptocurrency Support
- Mobile Apps
- Good Customer Support
Cons
- Country Restrictions
- Dont Own the Traded Assets
- Capital at Risk
4Comments
What is the typical duration for the approval of uploaded documents?
Can you guide me on how to register for 24option? Many thanks for the insightful article!
What's the cost to upgrade my account to VIP status?
I would like to start a new account