24option Review
The internet offers today’s traders and aspiring investors a lot of facilities. If you want to invest your savings to increase them, you can do that from the comfort of your home. However, when it comes to selecting an online broker, you have to be sure that you pick the right one. A right broker means the one that offers security of your funds, ease of trading, lots of features, big leverages, and admirable customer support. Here is some detailed information about 24option and how you can benefit from trading with it.
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An Overview of 24option
24option is another one of the active brokers on the internet with a huge active user base from around the world. The broker has been around for nearly 10 years. It operates under Richfield Capital Limited, a company registered in Belize. 24option appeared on the scene in 2009. Today, the broker allows you to trade in Forex, Cryptocurrencies, stocks, commodities, and indices. Since they cater to an international audience, their website is available in multiple languages including English, Spanish, Arabic, and Russian. One of the best things about 24option is that it offers a lot of educational material on its website to help new traders learn the trade before they step in the practical world.
The Best Features of 24option
Of course, the first thing you will notice about 24option is that it allows you to trade CFDs in cryptocurrencies as well. One of the things that new traders will love about 24option is the small deposit. If you are a new trader and on a budget at the same time, you can start with as little as $250. Another amazing thing about the broker is that it gives you a dedicated account manager regardless of the account you choose. And yes, 24option has different account types with different perks and benefits from the traders. The basic account type is bronze (they name it basic) whereas the most expensive account with maximum features is platinum.
The educational material is a strength of 24option because the broker has got a lot of information to help traders make a start. The demo account is huge with 100k for the traders to spend before they can start doing real business. Here are the best features that 24option offers its traders:
- A huge leverage of 1:10 is available for cryptocurrency trades
- Lots of instruments to choose from: commodities, cryptocurrencies, indices, stocks, forex, etc.
- Four accounts types to choose from so every trader can pick the account most suitable for him/her
- A web based platform as well as application available for Android and iOS smartphones
- A huge repository of educational material to help new traders
- Dedicated account managers for all accounts
- A huge sum to for traders in the demo account to start with
- A small deposit of just $250 can get you up and trading
Biggest Benefits of Trading with 24option
The first benefit that traders receive with 24option is that they have a lots of options. When you are new to trading, you often want to start with an instrument that is easy for you to trade. If you don’t understand indices, your broker should not force you to invest in that direction. If cryptocurrencies don’t make sense to you, then other options should be available for you. That’s what you get with 24option – lots of options.
Traders should also be happy that 24option has a lot of training material for them. If you are a person who likes to learn things completely before putting your money at stake, you can benefit from the guides, webinars, etc. available from 24option. There is a dedicated account manager for you to answer your questions and help you with any questions you might have regarding your trades and account. If you choose gold or platinum account, you can also receive one-on-one training of the MT4 platform.
The broker also gives you the option to use different currencies to deposit funds in your account. Ruble, Yen, Euro, and Pound options are available for you to fund your account. The best thing is that you can deposit multiple currency types too if you want.
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Deposit and Withdrawal with 24option
When it comes to depositing the money, you can use the Skrill or credit card option. You can use Discover, MasterCard, and Visa. You can also use the wire transfer method if that sounds more appealing to you. It is important to note here that your minimum deposit can be affected by the type of deposit method you choose. For electronic and credit card payments, your minimum deposit remains $250. However, if you are depositing through wire transfer, the minimum amount has to be $1,000.
Withdrawals can be the weakness of 24option. Unless you have a platinum or diamond account, you will have to pay a free on your withdrawals. Traders might not like this. You can withdraw using wire transfer, Neteller, Skrill or credit card. There is also a minimum withdrawal amount which is exactly what your withdrawal fee is. At the same time, you cannot withdraw less than $10.
24option Customer Support
This is one area where not a lot of brokers can beat 24option. They have all the three channels available for you to contact them i.e. email, phone, and live chat. When you have so many ways to contact, there is a certain peace of mind that when you have a problem, there will be someone to help you.
Overall Rating of 24option
Here are the overall ratings of 24option:
- Trading Instruments – 5/5
- Withdrawals/deposits – 4/5
- Customer Support – 4/5
- Mobile Trading – 4/5
- Overall Rating – 4/5
Conclusion
24optoin is doing well to facilitate its traders. It is a good platform for new traders due to the availability of educational material. One could say that professional traders will find 24optoin quite friendly as well due to the additional benefits that come with platinum and diamond account. In the end, traders should have the peace of mind that they are trading with a broker that has been around for nearly 10 years now and is providing its services in multiple countries.
