24Options – Everything you need to know
24 Options is one of the most talked about binary options broker and has been providing some quality services since the last few years. It is a highly efficient broker and has made trading very easy for all types of traders including novices as well as experts. It uses a premium trading platform which enhances the performance and provides some super effective tools which make sure that none of the traders have any sort of difficulties.
In this review we will give an in-depth insight of this binary options broker which has made a huge impact on the way traders participate and trade. The first question which ponders over everyone is that who is this 24 Options and where does it come from?
24 Options is a binary trade broker which started off with its operations in the year 2010 and are being headquartered from Cyprus. This is a highly rated binary options broker and has a solid clientele base. This broking website was previously owned and managed by CBAY Financials and since late 2014 they are being owned and managed by a company called Rodeler Ltd. This broker is regulated and supervised under Cyprus Securities Exchange Commission (CYSEC) under the license number: 207/13.
Trading Platform and Mobile Trading
24 Options uses Tech Financial’s trading platform which is very innovative in terms of technology and overall design. Most of the traders generally choose a third party trading platform like SpotOption or Tradologic, where they do not get too many options to improvise or customize trading and its tools. Tech Financial gives the opportunity to make trading smooth by providing some amazing trading tools and a great level of customization. Traders are highly satisfied with it because of its simplicity and a safe trading environment. Here are some of the major advantages of Tech Financials:
- Provides traders with a professional and easy to use interface.
- Navigation from one screen to the other is a breeze; therefore, there is no loss of time while trading.
- One gets to understand the use of each and every button on the screen as Tech Financials describes it with every detail.
- It also shows how a trade should be properly executed with it’s on-screen guide.
- Bold and bright way of presenting things to the end user.
24 Options has also made trading much more fluent by providing traders with an option to trade through a unique mobile app. There has been a secondary trading website developed especially for mobile phone users, this lets them trade whenever and wherever they want to. A person can easily access his accounts, check the current market scenario and make trades without even needing a proper computer based setup.
Trade Contracts offered
There are 4 types of trading contracts which can be signed up on:
- Classic Binaries: Classic binaries consist of High/Low and Above/Below Options. Here traders are going to decide whether the prices will go up or fall down.
- One touch binaries: This comprises of touch or no touch and high yield binaries. Here traders will have to decide whether the prices will “touch” a predetermined value or not.
- Boundary binaries: This includes stand and high yield boundary options.
- Short term binaries: These include binaries which have expiry times ranging from 30 seconds to 5 minutes.
With so many trade contracts, a trader can easily choose to earn as much as possible and as per his risk capacity.
24 Options is one trading broker which provides a lot of variety when it comes to trading accounts. With so much of flexibility, traders from all sorts can choose to invest and trade in their money with 24 Options. There are basically 4 types of different trading accounts to choose from:
- Standard Account: The first type of account is the standard account. Here there are no restrictions on the assets which can be traded and the maximum return or payout ratio is 83%
- Gold Account: This account gives the trader all the benefits of standard account coupled with a few extra benefits like extra 2% on the investment and 1 free withdrawal every month.
- Platinum Accounts: The next type of account which one can trade with is the Platinum Account. This account gives the benefits of the previous two accounts along with some added benefits like additional 4% per trade and unlimited number of withdrawals. The max payout ratio is 89% here.
- Diamond Accounts: The main benefit of this type of account is an additional 6% on trade. There is unlimited number of withdrawals as well. One needs to deposit a minimum of $250 before proceeding with trading.
With so many flexible options trading becomes very easy and successful.
Payout Ratios and Money Rebate
When one is dealing in binary options he/she definitely demands a good amount of return on investment, 24 Options, is one binary options broker which offers a high amount return percentage. One can expect a maximum payout ratio of 89% depending on the account which he chooses for trading.
One is also entitled to a rebate of around 15% on the total amount of money traded. This rebate is one feature which no other broker in the industry provides.
Underlying assets’ index
24 Options provides traders with over 100 underlying assets to deal in. Here is a comprehensive list of some of the assets which can be used for trading:
- Currencies: One can choose to trade (FX trading) in currencies like AUD/CAD, AUD/CHF, AUD/USD, EUR/GBP, EUR/CAD, GBP/CAD, GBP/AUD, USD/CAD, USD/ZAR, USD/TRY and many others.
- Commodities: Commodities like coffee, copper, coin, gold; sugar, silver, oil etc can be chosen from.
- Indices: 24 Option also lets a person trade in indices like NIFTY, NASDAQ, BOMBAY 30, Hang Seng Future, Dow Jones, and South Africa 40 etc.
- Stocks: One can also trade in the stocks of big brands like Amazon, Apple, Barclays, BMW, Coca-Cola, Citigroup, BNP PARIBAS, Face book, Fiat, Google, IBM, Microsoft, Nike, Royal Dutch, Sony, Tata Motors, and Twitter etc.
With so many assets to trade in and a variety of accounts to choose from, a trader definitely gets plenty of flexibility with 24 Options.
Pros of 24 Options
There are multiple advantages of being associated with 24 Options. We have summed up a few of the major ones so that you can understand all its key working areas and their benefits:
- Multiple trading accounts like standard, gold, platinum and diamond. These accounts give a lot of freedom of trading and all types of traders can put in their money.
- A healthy payout ratio of 89% ensures a solid return on investment to the traders.
- Multilingual customer support for 24 hrs a day makes it easy to trade. Even the newer traders do not have a tough time.
- Tech Financial’s trading platform makes it further easy to trade.
- It also offers mobile based trading; therefore, a trader can keep working even on the go.
- Strict regulations under CySEC, MiFID and CRFIN.
Along with all these advantages you can also find in some disadvantages. It would be known as sheer nit picking but we will mention them as well.
Cons of 24 Options
- Beginners do not get a free training. There are quite a few brokers who provide free of cost training to newer traders.
- A minimum of $250 deposit is required before the demo account is allowed to be accessed.
Now let us take you through the customer service executives ‘review.
24 Options has excelled in almost all the departments which other traders do not. Therefore, the customer service department cannot be left behind. There is a support system which provides support in over 17 major languages and can be accessed through emails, phone and live communication. There are localized as well as toll free numbers wherein the customer support department can be contacted.
We hope that you have now got a good idea regarding 24 Options and its workings. Let us be fair, 24 Options is one binary options broker which excels in almost all fields of trading. It gives a great platform, solid customer support, flexibility in terms of trading and a good return on investment. This broker does not have any cons which will decrease its credibility. It is also regulated under the surveillance of CySEC. Therefore, traders can definitely bank upon 24 Options.