-
Editor Rating
- 5/5 – Excellent
- 24option Review
- Website:
-
Review Summary:
-
24option seems to be a very legitimate and great brokerage firm. Their website could use some work and I feel that it could be deterring away many potential traders by its lack of detail (in areas). Luckily the platforms and educational help are very helpful and intuitive. Couple that with an excellent customer service team and they have a very legitimate brokerage, and 24option will remain at the top as one of the highest rated EU Binary Options trading brokerages.
Table of contents
24option is a Binary Options broker that has quickly taken the trading world by storm, being ranked as one of the top EU Regulated Binary Options brokerage. Their website is difficult to maneuver and does not release much information to the general public without signing up for an account first. You do however get to see their extensive asset list, offering many different currencies, commodities, stocks and indices; depending on your preferences.
Top Features of 24option
The trading platform is entirely web based, meaning you do not have to download or install any information onto your computer in order to use their systems. This also implies that their trading platform can be reached from any computer as long as it has access to the internet. The platform has a professional appeal, and is very easy to use.
The asset list is quite extensive. They offer many of the currency exchanges including the EUR/USD, USD/JPY, GBP/EUR and EUR/JPY (and many others). Some of the commodities that are highly traded are Gold, Silver and Oil. The stocks that are offered for trade are somewhat limited, but there are a few large companies such as Barclays, Google and Apple.
The withdrawal process may be limited to the initial deposit made, but it is a very straight forward process. The first withdrawal will take a few extra days in order to verify all of your information. After that, it generally takes a few days to see the money in your bank account. That is a lot smoother and faster than many of the online brokerages today.
The customer service system is very strong. They are available (as you may have guessed) twenty four hours a day, and are available through live chat, email or by phone.
24option Prices
Reading through the account details, it is clear that there are three different types of accounts. First is the standard account. It allows you to trade high/low, boundary options, touch options and high yield options (seems like a logical choice). With this account style you are also granted access to the twenty four hour customer service as well. Unfortunately, their website is lacking in many of the important aspects of researching different accounts. There is no deposit amount required (or at least listed) on the website that guarantees you into the standard account
Platinum accounts are the top level within 24option, and there is still no requirement for a minimum deposit. Most brokerages are very straight forward in their account types where 24option seems to be “beating around the bush”. The paragraph structure from each account description reads the exact same with the extras tacked on at the end. Mind you each is prefaced by saying the above quoted statement
As with most binary options brokers, the first withdrawal of every month comes free of charge, but most be withdrawn the exact way it was deposited (ie the same debit/credit card, wire transfer). After that, the cost to withdraw any amount of funds can reach up to thirty dollars per withdrawal. While they offer bonuses (traders whom use the site mention bonuses, but there is no information to be found on them), the restrictions and accessibility is incredibly difficult
The Downsides of Using 24option
The website itself (not the trading platform) seems to be very vague. They do not draw their customers in based off of the information that is listed. They could do a much better job outlining their account types and what are the requirements in order to reach them. They do have strong attributes to being in the gold and platinum accounts, but as a trader you are not sure how to reach those statuses.
24option Customer Support
The customer service at 24option is very strong. They offer support in over nine different languages; including English, French, Spanish and Romanian. As mentioned before, they have three different options to reach their customer service staff. The most important is the use of Live Chat. It allows you to reach your customer service representative almost immediately and can type to them as you are using their platforms.
The second is through email. While Live Chat is the most preferred option, an email answer will be returned quickly and is likely to answer all of your questions. The third, and most appealing is the phone system. They have local phone numbers to many different countries including the United Kingdom, Tokyo, Canada, United States, Spain and others. Chances are you can call someone and achieve your answer the “old fashioned way”.
If you are attempting to verify documents are sent them sensitive material, there is also a fax number listed on their website that will send your paperwork directly to their headquarters.
Conclusion
24option seems to be a very legitimate and great brokerage firm. Their website could use some work and I feel that it could be deterring away many potential traders by its lack of detail (in areas). Luckily the platforms and educational help are very helpful and intuitive. Couple that with an excellent customer service team and they have a very legitimate brokerage, and 24option will remain at the top as one of the highest rated EU Binary Options trading brokerages.
