Based in Cyprus, 24Option is binary broker which is a strong favourite among many binary traders today. This is largely due to the fact that this broker is a proactive broker that offers many incentives to its traders on a regular basis. It is not uncommon for traders to regularly find 24Option offering cash prizes running into thousands of dollars for their monthly trading competitions. Formerly owned and managed by CBAY Financials, 24Option today is under the management of a different holding company called Rodeler Ltd since late last year. The broker is still regulated and licensed by the Cyprus Securities Exchange Commission (CYSEC) under the license number: 207/13.
The trading platform offered by 24Option to its traders is one of the most innovative trading platforms around. While most binary brokers rely on the two leading third party trading platform providers such as SpotOption or Tradologic to supply the trading engine, 24Option has chosen to take a different path by using the trading engine supplied by Tech Financials. The end result for traders is a unique trading experience in safe and secured trading environment.
Mobile trading is also extensively supported by 24Option. With a secondary website optimized for smartphones and other mobile devices, traders who are constantly on the go can also easily access their accounts, check the markets and make trades without having to use a dedicated computer.
There are four main types of trading contracts offered by 24Option. These include:
- Classic Binaries: Consist of Above/Below and High/Low options
- One Touch Binaries: Comprises of Touch/No Touch and High Yield Touch Binaries
- Boundary Binaries: Include Standard Yield and High Yield Boundary Options
- Short Term Binaries: Binaries with short expiry times ranging from one minute to 5 minutes.
Opening a trading account at 24Option is easy. Traders just need to make a minimum deposit of $250 when they sign up with 24Option. As for the types of trading accounts, 24Option offers traders a choice of 3 different types of trading accounts, Standard accounts, Gold accounts and Platinum accounts.
- Standard Accounts: No restriction to types of assets traded, 24 hours customer support
- Gold Accounts: Apart from all the benefits of a standard account, gold account holders also earn an extra 2% on their investments
- Platinum Accounts: Benefits of standard and gold accounts plus an additional 4% returns on money invested.
A free demo account facility is also provided but traders are required to place a deposit of $250 first before they can gain access to this facility.
As for the returns offered by 24Option, their rates are one of the highest in the industry with a maximum payout of 88% for in the money trades. Out of the money trades are also entitled to a rebate of up to 15% of money invested.
With more than 100 different types of underlying assets, 24Option asset list is one of the most comprehensive that we have ever seen. Considering the fact that there are 4 main types of trading contracts, this meant traders have extensive choice of trades that they can make.
It has been said that the quality of 24Option’s customer support is second to none. With support in 17 major languages, it is different to find another broker in the industry that is more trader’s friendly than 24Option. Access to the support team is by means of email, live chat and telephone. As an added benefit, international traders will find that there is also a long list of toll free and localized numbers which they can call to reduce their telephone charges.
- Long Established Broker
- Member of the Investment Compensation Fund (20,000 Euro in Protection)
- Regulated and Licensed Broker by CYSEC
- Reputable Broker in the Industry
- Dedicated Customer Support
- Attractive Range Of Incentives And Benefits
- Large Cash Prizes For Trading Competition
- Multiple Languages Supported
- Unique And Secured Trading Platform
- Wide Coverage Of Markets
- Demo account require deposit of $250 before access is granted
In our opinion, there is no binary broker around which come close to the quality of services offered by 24Option. In addition, the range of incentives that 24Option offer to traders is certainly one of the most attractive around. In fact, it is difficult to find any fault with this broker.