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24Option Review
A Review of 24 Option
24 Option is a relatively new entrant into the binary options market, having started operations in the second half of 2010. The company is registered in the tax-free haven of the British Virgin Islands. The company accepts traders from all around the world without restrictions.
Sign up to 24Option.com Now and Receive a Special $400 Bonus!
24 Option trading platform
Bonuses and Promotions
Account opening bonuses are awarded to first-time traders on the this market leading trading platform. Bonus amounts peak at $400. Promotions that award bonuses to traders are also held periodically, and this includes the popular iPad giveaways.
Account Information
The minimum amount needed to open an account here is $200, with $24 being the minimum that traders could put into a trade. Account opening can be done in a breeze right from the homepage of this broker’s website. The site is multi-lingual and is available in English, Romanian, Spanish, French, Japanese, Arabic and Italian.
Trading Requirements
The homepage of this broker can best be described as a one-stop shop. You can get access to interactive charts, the web-based platform as well as account opening access there. You can also access their trading simulator, making it one of the few binary options brokers who offer demo trading to account holders.
Traders can fund their accounts and make withdrawals using credit/debit cards, UKash, Moneybookers, CashU, wire transfers and Liberty Reserve.
A web-based trading platform is also offerred and a mobile trading application for smartphones and tablet devices is also available. Traders whose trades end up in the money can expect payouts that approach 89%. Traders also have a buy-back option, which permits the cashing out of successful trades before expiry.
Platforms Featured and Markets Offered
The following assets are available for trading:
1) Currencies: EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD and the Yen crosses.
2) Stocks: Apple, BP, Lloyds, Vodafone, Barclays PLC and Google.
3) Commodities such as gold and silver are available for trade.
4) Stock index futures such as the IBEX, DJ30, NASDAQ100, S&P 500 and Xetra Dax.
A full list of assets that can be traded is available on 24Option.com.
The following types of binary options:
a) High/Low:
c) Boundary Options: Also known as the In/Out options variety, this option is available for trading and this broker is one of the few places you will find it!
Customer Service
A robust customer service department that is available by phone, email and live chat. Customers are also assigned individual account officers who can be reached at any time.
Final Word
Overall, trading with this broker is a good experience. One thing that traders will enjoy is the educational materials available for download. The account opening process is easy and clear-cut and a few traders whom we have interviewed have attested to the transparent pricing structure. 24 Option has also upped the ante in terms of bonuses that traders can get by giving out iPads. This is definitely and exciting departure from the norm and can help traders who are good but perhaps cannot afford the high-cost of tablet devices to acquire one. Withdrawals are straightforward and not a problem.
24 Option is indeed a good binary options broker to work with.
Sign up to 24Option.com Now and Receive a Special $400 Bonus!
Never mind what we have to say, leave a comment about your own experience with this broker below.
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I am finding customer service at 24Options lacking. They plan a Webinar then move the time forward twice, the second less than an hour before the new time. I wonder if anyone attended the webinar at the new time 2 hours before it was scheduled. It took 4 days to get a reply to opening a Demo account. Fast to ask for your money then they could care less.
Beware, 24Option is neither registered or regulated by the BVI FSC. When contacting them, they stated that they are based out of Cyprus and used to be out of the BVI.
See Chat Transcript below:
Regulation:
Hello,
Are you regulated in the BVI?
Mike
Welcome Regulation! Your request has been directed to the English Support department. Please wait for our operator to answer your call.
Call accepted by operator English Support. Currently in room: English Support, Regulation.
English Support:
Recently, the European Union has decided to include binary options industry as part of financial Licensing requirement. 24option.com has undertaken the decision to start with regulation process in Cyprus.
Regulation:
Ok, but where are you incorporated?
Regulation:
Hello
Regulation:
Do you know where you are regulated?
Regulation:
Sorry Incorporated?
English Support:
not at the moment
Regulation:
You don’t know where you are incorporated?
Regulation:
Hello?
English Support:
https://www.24option.com/24option/index.html#content/aboutus
Regulation:
Ok so you are incorporated in Cyprus, so how come here: http://www.forexpros.com/brokers/24option and here http://www.fxempire.com/binary-options/24option/reliability/ and other websites it says that you are not only incorporated in the BVI but regulated there as well?
Regulation:
Foundation Year: 2010
Regulated By: FSC (BVI)
English Support:
that is correct
English Support:
im sorry for the confusion
Regulation:
That is not correct as your legal terms and conditions: https://www.24option.com/24option/index.html#content/termsandconditions state that you are based out of Cyprus
Regulation:
So which one is it, either your own information on your website is wrong or a lot of other websites are wrong
Regulation:
?
English Support:
one moment please
English Support:
we are based in cyprus and regulated with the fsc
English Support:
the confusion is because i thought you were referring t the us Regulatory
English Support:
which we should soon take place as we are in mid process to enter the US regulatory
English Support:
i hope this information is helpful to you
Regulation:
In order to be regulated by the FSC you must be incorporated in the BVI and therefore should appear in their directory of regulated entities here: http://www.bvifsc.vg/en-gb/regulatedentities.aspx and you are not
Regulation:
So again which one is it?
English Support:
let me double check this
English Support:
one moment please
Regulation:
Ok
English Support:
i cant seem to load up the page of the link you sent
Regulation:
http://www.bvifsc.vg/en-gb/regulatedentities.aspx
English Support:
we can send you the information via email
Regulation:
On this site it states you are headquartered in the UK
English Support:
nevertheless you will need to contact our chat support during morning hours
English Support:
so one of the account manager will be able to provide this information to you
Regulation:
have him send me an email at ******** please
English Support:
all main operation are held in Cyprus
Regulation:
Ok
Moreover they do not use a feed provider as stated in the article. They are simply a whitelabel of TechFinancial. 24Option is a replica of OptionFair. A simple online search will show you that both are hosted under the same environment.
This site is offline anyone any idea why?
24 option is one of the best brokers for binary option business.
@James the website work as well
24option the best broker in this industrieal and i with them now tow month wonderful broker
Was opening my “free” account with 24option.com which reviews and their site states $250.00 deposit. This is incorrect in your review as well because the minimum opening deposit is 500 dollars. I wont be using 24option.com
I have been with 24Option for a while now. Good brokers. Platform is easy to understand and they have some excellent trading resources on their website. A trader has access to many underlying assets to trade. In my experience, 24 Option has been very good.
I have used 24 option for many months. There platform in good to trade on but the lack of customer service really puts a damper on people who really like to trade. Then out of the wild blue the change their minimum deposit from $250 to $500 with out any notice. If they can change with out notice what else will they change without notice…