24option Review

24option is one of the veteran brokers in the binary options industry. Launched in 2009, they continuously keep their traders a step ahead by constantly supplying them with platform upgrades using the finest technology. But with the explosive growth of the binary trading industry over the years, are they still able to keep up with the competition? Below is my updated review to answer this question.

Advantages
1. Regulated by the CySEC
2. Operating since 2009
3. Instant switching from binary options to forex and CFD trading
4. Demo account available
5. Accurate quotes and trading signals
6. Superb customer service
Disadvantages
1. 88% payout only available for Diamond account holders.

 

Read the Bottom Line! 
Visit 24option! ►
 

(4/5)

Minimum Deposit

The minimum deposit requirement to open a live trading account is €250, the same with the standard minimum deposit that is followed by majority of the brokers in the industry today.


24option minimum deposit
Trading binary options involves substantial risk and may lead to loss of all invested capital

 

Minimum Deposit

EZTrader ($200)
anyoption ($200)
BDSwiss ($100)
24option ($250)

 

(5/5)

Design and Layout

What makes 24option different from the rest is that they have kept their platform design simple but well-structured. I never had any problems finding all the important trading elements on the interface particularly the list of assets which is nicely placed on the left side of the screen with the right amount of space for a hassle-free browsing experience. It’s also easy to switch to forex or CFD trading by simply clicking on the link at the top of the interface.

24option platform design
Trading binary options involves substantial risk and may lead to loss of all invested capital

Visit 24option! ►

(5/5)

Banking Methods

Transferring funds into the account was a non-issue for me because this broker accepts various credit card brands (Visa, MasterCard, Discover, Diners, Switch, JCB), Skrill, Neteller and Wire Transfer. These banking methods are the most commonly used and the most secured payment systems today.

(3/5)

Minimum Trade

Placing a Call or Put (High or Low) option requires a minimum investment of €24. While this may not be the lowest, it is still within the standard range (€25) that is followed by around 32% of the brokers today.

 

Minimum Trade

EZTrader ($25)
anyoption ($25)
BDSwiss ($5)
24option ($24)

 

(5/5)

Available Assets

There are over 100 assets to choose from on the trading platform. Aside from having more than the average number of assets to offer, their advantage over many brokers is that they cover all the 4 major categories (stocks, commodities, currencies and indices) so the potential to make a profit is immensely high.

24option assets

Trading binary options involves substantial risk and may lead to loss of all invested capital

 

Available Asset

EZTrader (91)
anyoption (97)
BDSwiss (68)
24option (104)

 

Visit 24option! ►

(10/10)

Trading Platform

24option now uses the Scipio platform and it’s a lot faster and much more convenient to use that its previous platform. It’s an upgraded version with enhanced features and tools.

24option platform
Trading binary options involves substantial risk and may lead to loss of all invested capital

(10/10)

Quotes

Having a broker that provides accurate quotes by a third party provider is crucial for expanding your skillset and fortunately after the tests that I’ve done with the platform, 24option’s financial data were almost synchronized with the actual market prices. Delays were very minimal lasting for just a few seconds to a minute and technically are still far from the standard 20-minute window

(9/10)

Payout Rate

When it comes to the payouts, the higher the rates, the better. With 24option I was able to confirm that the potential payout is up to 88% on successful trades, is indeed true and the good news is that some of the hottest underlying assets have payout rates that are close to this value. The standard in the market today is at 85% so this broker definitely offers a competitive rate. Investors can lose all their capital by trading binary options.

24option payout rateTrading binary options involves substantial risk and may lead to loss of all invested capital

 

Payout Rate

EZTrader (81%)
anyoption (75%)
BDSwiss (85%)
24option (88%)

 

(10/10)

Withdrawal Processing Time

One of the common complaints of most traders today is the delay in withdrawing their money from brokers with waiting times usually lasting from a week to several weeks. The good news is that 24option has maintained a good track record for handling withdrawal requests. All of my withdrawals took less than 5 days to process and this was faster than the standard waiting time (10 days) that is followed by most brokers today.

24option withdrawal processing time
Trading binary options involves substantial risk and may lead to loss of all invested capital

 

Withdrawal Processing Time

EZTrader (Up to 7 days)
anyoption (Up to 7 days)
BDSwiss (Up to 7 days)
24option (Up to 3 days)

 

(9/10)

Customer Service

24option’s customer support department was very easy to contact since they can be reached via phone, email or live chat 24/7. Communicating with them was never a problem for me and most of my conversations ended positively with questions getting detailed answers and issues getting immediate support.

24option customer service
Trading binary options involves substantial risk and may lead to loss of all invested capital

(10/10)

Regulation

Currently there are around 41% brokers in the market that are licensed and controlled by financial regulators. 24option belongs to this group with an active license for Rodeler Limited from the Cyprus Securities and Exchange Commission (CySEC). This basically means that they are complying with regulatory capital requirements that are set by a well-known financial agency.

24option regulation
Trading binary options involves substantial risk and may lead to loss of all invested capital

(14/15)

Brand Reputation

With the myriad of binary options brokers around today, there are plenty of options to choose from but over the years 24option has remained a leader in this industry with its numerous awards and excellent reviews from trusted financial sites and online trading communities. I wasn’t surprised to see that they are still preferred by the majority of binary traders today from various countries including those from Ireland, Indonesia, Malaysia, Singapore and Hong Kong. And the fact that they now offer Forex and CFD trading means that they are doing a good job in the online trading market.

Our verdict (94/100)

24option continues to be one of the leading brokers today specializing in binary options and this is because they are able to constantly improve and optimize their trading platform that comes with many features such as the diverse range of global assets, the potentially high payouts and no hidden fees. Add to that an excellent support quality and you have yourself a market leader that delivers an absolute binary options trading experience.

Visit 24option! ►

22 Responses

  1. Shefra Morrisson
    Shefra Morrisson at |

    I’ve tried several brokers over the past few years but 24option remains to be the best choice for me. Their platform is easy to use and the returns are more rewarding compared to what other brokers can offer. Here’s a tip: Make sure to use their trading signals because it’s really useful on placing a High or Low option

  2. Keiffer C.
    Keiffer C. at |

    Does this broker really pay? How about the withdrawals, do they really give the money of their customers back?

    1. Doug K
      Doug K at |

      Yes the really do pay. My membership with them for the past 3 years has already generated over $1000 in profits.

    2. Carlos S.
      Carlos S. at |

      With regards to your question regarding the withdrawals, they return the money of their clients if they request it. I’ve been a member since 2014 and have done over 20 withdrawals successfully.

    3. C. Davison
      C. Davison at |

      They pay their clients based on what is indicated on the trading screen (e.g. 85%, 200%). If you want a higher pay, better use their One Touch option. I prefer the High/Low and Short Term though because the chances of making a profit is much better with this instrument.

  3. Tristan P
    Tristan P at |

    Great review. Bonus looks tempting but does it have cons?

    1. Ryder Lukis
      Ryder Lukis at |

      The bonuses have terms and conditions but for me, it’s reasonable as compared to other brands.

  4. Nazeeh S
    Nazeeh S at |

    If you’re going to sign-up with 24option, be sure to avail of their free signals. I find it really helpful in determining the best assets to invest on.

  5. Yohann C
    Yohann C at |

    Their trading competition is interesting and the prizes are huge. I’m currently at the top 11 position.

    1. Vallev Xeron
      Vallev Xeron at |

      The competition is still ongoing and I think you can join anytime you want.

  6. Moeller
    Moeller at |

    I recently signed-up at 24option and availed their limited edition training pack which was worth $10,000. It comes with a lot of perks like trading webinars, trading signals and other benefits. Highly recommended.

  7. Jordan Yuille
    Jordan Yuille at |

    24option is a good broker and they always make sure that there is something new to make the trading more interesting.

  8. Nogis Boik
    Nogis Boik at |

    The competition launched by 24option is widely accepted by most of their loyal clients. A very good indication that this broker is really trustworthy.

    1. Richard Metcalfe
      Richard Metcalfe at |

      I am trying my luck with the 24option latest trading contest. I am currently in the 28th place, and I am aiming for at least the first 10 this time.

  9. Dominic Piper
    Dominic Piper at |

    The response rate provided by the support staff is quite faster than the other broker. They are reliable individuals too.

    1. Stephen Mitchell
      Stephen Mitchell at |

      I have to agree with you in this one because I had a very good experience with this people who can fix things immediately.

  10. Jennifer Mackenzie
    Jennifer Mackenzie at |

    Are they really able to process withdrawals quickly? The previous broker that I’ve been with almost took 2 weeks.

    1. Eliot T.
      Eliot T. at |

      In my case, it takes just a few days, usually 3 days.

  11. Letterio Ri.
    Letterio Ri. at |

    I noticed that they don’t offer bonuses anymore. Why?

    1. Elmer A.
      Elmer A. at |

      This is the new mandate of the CySEC which they have to abide. In my opinion, it’s actually good that they now removed the bonuses because they can be risky especially for beginners.

      1. Jerrod Oconnell
        Jerrod Oconnell at |

        What makes bonuses risky?

  12. John Kowalski
    John Kowalski at |

    If you are going to trade and expect more bonuses, then it is very similar into playing online games. Trading is no online games, so expect to nurture your investments by properly choosing the right broker for you.

Leave a Reply

You must be logged in to post a comment.