If you are already a member of Mike’s manual signals group on Facebook, you probably already know that yesterday, April 19, 2016, I became an admin in the group. This will allow me to add those of you who didn’t join the group yet with much greater ease than was possible before. No more waiting for being approved. Most of the group members and some of the people who have not yet applied to joining the group already have a broker account they are happy with. However, If you are looking to open a new broker account, I would like to share with you today an objective review of a broker you have probably already heard of: 24option.
24option is a favourite among many traders. It’s also one of the well-established and long-standing brokers in the binary options industry. Their global Alexa rank of 14,481 is one measure of how incredibly popular they are. 12.4% of their traffic comes from Russia, 11.5% from Italy, 11.2% from Spain, 3.9% from France and 3.9% from Colombia. Their social network presence is excellent, especially on Facebook and Google Plus. In this short review, I’ll try to outline the features I believe have led to their great reputation.
Let’s begin by reading some comments I found from real traders who are trading with 24option:
“Now, I do feel satisfied blessed to be working with 24options because they have never troubled me over anything and is easily the best broker out there, but I have huge respect for other brokers as well which are providing honest service, I hate brokers which only think about themselves and play dirty tricks with innocent traders and I know the pain because once I was like that only, but I am glad that joining 24options solved all issues for once and all!”
There are no problems with withdrawals from 24option as confirmed by many emails we received, such as the following:
“I have had experience with 24Option, registered an account, deposited $250 and did some trading for two months, made some wins and some losses, my account went high and then I made many losses and my account came down to $215 and so I requested to withdraw my $200 because I did not want to lose all my funds. After submitting all the necessary documentation required, I got my $200 sent to my bank account through wire transfer. I am in Ghana, West Africa. There I got to know these people at 24Option are legitimate and one can really make money with them.”
“I signed up with 24Option more than a year ago and I have never had any problems, always professional, friendly and reliable. Even when you have a bonus with them they don´t deny your withdrawal even if you have not reached the turnover. They just deduct the bonus from the account and send you the withdrawal. They are top notch!”
“Good, honest broker. Dealt with them for quite a while. Good service by my account manager. No false promises and attempts to increase my trading budget. Very recommendable,”
A lot of people commented positively about the platform’s dark design:
“I only came across binary options around 2 months ago and since then have learnt so much! I set up a demo account with 24option which I have found to be quite professional and I love working with the platform as there is no strain on my eyes especially at night.”
“24 options as far as i`am concerned , has one of the best platforms ,nice and large . easy to follow and you can score[ make money] consistently with this platform.”
Here’s an excerpt from an email we received at Mike’s inbox about a month ago:
“i would very much like to join your group but i was wondering if you could partner with 24options and create a link where i can sign up with them. i have tried alot of brokers and i currentyl have an account with 24options and they are beyond amazing, they dont bother me whenever i request a withdrawal and stuff like that .”
Many people have asked us to add 24option as one of the supported brokers on Mike’s AutoTrader (but unfortunately we could not):
“I would prefer a more known Broker that has been proven to be trustworthy and on which very positive review reports are available like 24Option”
Many Muslims have expressed interested in joining 24option due to the excellent Islamic account they offer:
“i must state that I am muslim, which basically means (i don’t know if you have any muslims in the group or not) that i literally can never bid on any currency exchanges, and I have to get an Islamic Broker Account (I hear 24option is good for this)”
The above comments are a small fraction of the many positive endorsements and reviews I’ve seen regarding 24option.
One of the most important fact about 24option concerns their regulation. 24option is operated by Rodeler LTD Financial Services Limited, based in Cyprus (at 39 Kolonakiou St., Ayios Anthanasios, CY-4103 Limassol), which is a company privately owned and supervised by online trading professionals with years of experience. Officially, 24option’s strict regulation means that they are not allowed to provide services to residents outside the European Union. They are regulated by CySec (license number 207/13.) 24option.com and Rodeler Ltd. belong to Richfield Capital Ltd. which are regulated by the International Financial Services Commission of Belize (IFSC/60/440/TS/15-16).
24option are even sponsoring sports events (Juventus and Olympic Lyonnais football club), which is another indication that they are a legitimate company.
All the above means that you can rest assured that 24option is definitely NOT a scam. The money you deposit will be safe and you will never be denied a withdrawal (as long as you don’t accept a bonus – check out my guidelines for dealing with brokers.) Also, as a trader with 24option you’re not facing any risk of manipulation or other types of fraudulent behaviour common among other brokers.
TechFinancials is an excellent binary options trading platform, which allows you to easily place trades on a wide variety of assets, including currency pairs, commodities, indices and stocks. Expiries supported are 30 seconds, 60 seconds, 2 minutes and 5 minutes for short-term turbo trading and 5 minute increments for regular binary trades, including EOD (End of Day), weekly and monthly expiries. They also have a close early feature, which is very important, as you probably realize if you’re an experienced trader. This is a web-based platform that allows you to trade wherever you are and using any type of computer or mobile device with an Internet connection. Apps for both Apple iPhone and Google Android are available.
Minimum deposit with 24option is $250 via a credit card or using one of the supported electronic payment methods (such as Skrill and Neteller) is $250/€250/£250/¥50,000/ руб 10,000. If you prefer to deposit via wire, the minimum is $1000/€1000/£1000/¥100,000.
5 accounts types are available:
- With the Basic Account, payouts are up to 82%.
- The Silver Account includes trading alerts and a professional coach.
- The Gold Account, which is the most popular account type with 24option, offers up to 84% in payouts, SMS and email alerts and live trading with an expert.
- Payouts reach up to 86% with the Platinum Account, and other benefits include a session with a financial expert, unlimited access to the industry’s most powerful tools and analysis provider, 24options’ Trading Central, forex trading and higher trading limits and exposure.
- With the Diamond Account, payouts are up to 88% and you can also customize the platform. You will also receive Juventus Tickets throught the season.
Minimum trade amount is $24, hence the name 24option.
Withdrawals are completed within 3 business days. If you sign up for a Platinum or a Diamond account, withdrawals are free. With a Gold account, you can make one withdrawal for free each month. Silver and Basic account holders can make one withdrawal for free. Fees are 3.5% of the withdrawal amount when withdrawing via a credit card or Neteller, 2% with Skrill and Perfect Money, 7% with CashU and 0.9% with Webmoney. For wire transfers, withdrawals cost $30, €25, £20 or ¥3,000. Note that when withdrawing via wire, there is a minimum withdrawal amount of $50, €50, £50, ¥5,000 (JPY), ¥320 (CNY).
The review of reviews
So many reviews are available on 24option, most of them are very positive. Here are some of the most important ones:
ScamBroker.com: “they are a legitimate binary option broker and not a scam broker!”
BinaryOptionsThatSuck.com: “24Option Overall Rating: 91 + Regulation Factor (+3) = 94/100”
FXEmpire.com: “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.”
7BinaryOptions.com: “24Option is easy to use binary options trading broker and it provides high returns for traders with access to around the clock customer service for any assistance on trading. This all makes 24Option a binary option broker we can highly recommend.”
EasyTradingSignals.com: “24Option is one of the best Binary Options Brokers that you will find.”
BinaryOptionsSpot.com: “There is really no downside in the binary options broker 24 Option, they are well regulated with good reputation among the community, and their features can satisfy even the most sophisticated traders. The platform is lag free and user friendly and offered support cover high quality demands. Everything combined makes 24 Option one very trusted and wise choice!”
BinaryScamReview.com: “They are one of the best binary options brokers around and we very highly recommend them.”
To conclude this 24option review
I can go on chewing the information provided on 24option.com and spitting it out for you, mentioning all the great features provided by this broker, such as a free demo account, the wide array of educational tools including a video center, 24/7 support via email (firstname.lastname@example.org), telephone (they have numbers in 20 different countries) and live chat by a highly responsive and multilingual team. But please be responsible and do some reading yourself on 24 option.com.
Here are many more binary options broker reviews.