|Website||Rating||Popularity||Min Deposit||Regulator||EUR/USD spread|
If you have been interested in financial trading for a few years, then 24option certainly rings a bell. Back in a day it was the world’s largest, and probably the most successful, binary options brokerage. However, the times have changed and now it became nearly impossible to operate a binary options company. This is why 24option has quickly turned itself into a CFDs and FX brokerage. Let’s find out more about this company in our review.
Can 24option be trusted?
24option is operated by Rodeler Limited, a CySEC regulated company that has its license issued as of 11.07.2013. Hence, the company operates in the regulatory environment for already five years and throughout this period 24option’s license hasn’t been revoked or suspended.
In addition to this, 24option has been a sponsor of Juventus FC since 2014, and it is obvious that any football club would break a sponsorship contact in case the sponsor had been caught with illegal activities.
Obviously the information above is only suitable for the investors from EU and EEA. In case you are not a residing in the aforementioned places, you will be redirect to 24option.com/international, a website operated by Richfield Capital Limited. While this company is registered in Belize, it still holds a local financial license. This is quite rare when we see a non-EU entity holding a valid financial license, and this certainly gives us even more confidence with this broker.
How about 24option trading environment?
24option bring the access to financial markets just few clicks away from you. Once you visit the company’s website, you can preview the trading platform simply by clicking Trade tab in the menu.
The platform itself is relatively simple and easy to navigate. Best of all, it is available directly in your browser, hence no installation of any software is needed. The professionals would certainly argue that the software lacks automated trading options as well as the elements for graphical analysis, however the platform seems to be uncluttered and it will be strongly appreciated by the starters. Next to this, those who require a more complex trading platform are provided with the MetaTrader 4 platform.
As for the trading conditions, EUR/USD typical spread seems to be around 1.5 pip. Most of the other popular currency pairs come with the spreads anywhere between 1 and 3 pips.
24option account types
The brokerage offers four different types of accounts. While there are no drastic differences amongst these accounts, we still feel that it is helpful to have an explanation of these accounts.
The worst, perhaps, part of the Basic account is that it is a subject to the account maintenance fees. In other words, if you start trading on the lowest tier account, you will also incur some monthly fee for trading with 24option. However, this handicap is eliminated when opting out for a Silver account.
Choosing a Gold account with 24option will get your free withdrawals and access to Trading Central. Finally, the Platinum account comes with the same set of benefits, but it also has a feature marked as “Spreads”. While we are not sure what exactly this feature is, we may assume that 24option will offer some special spreads to Platinum account holders.
24option review round-up
While we see that most of the binary brokers have disappeared from the market, it is clear that 24option is here to stay – whether binaries exist or not. The current offer of 24option is quite okay for the starters as the broker provides an intuitive web-based platform. The variety of trading instruments is another advantage of this brokerage. Finally, the company has unstained reputation and it has been regulated for over 5 years, which makes it a safe choice for the traders.