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24Option Review 2020 – All You Need To Know

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24Option is a relatively new firm to the trading floor, opening just shy of 10 years ago, in 2010. Since that time, however, they’ve continued to build a reputation that puts them among the top brokerage firms around.

Beginning the market in binary options trading, they’ve since executed a transition to the forex, cryptocurrency and CFD trading market. However, it seems to stand that the company has held onto their strong reputation and standards, turning the experience of trading in CFD’s and forex into a simple experience, even for the newest traders among us.

The system itself offers what digital brokers are best known for, something simple and straightforward that works. It does this through a mix of quality customer support, regulated and secure banking and an innovative platform that can be customized to any trading strategy.

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Licensing and Regulation

You’ll find two different forms when it comes to 24Option, which include the EU version and the International version. Rodeler Limited, owned by Cyprus Investment Firm and licensed by CySEC, the Cyprus Securities and Exchange Commision, own the EU version of this firm, running under a license 207/13.

All of these registrations mean that the company is currently operating under compliance with MiFID II, the Markets in Financial Instruments Directive, providing complete transparency in operations. This is ensured also because of the fact that CySEC operates as a member of the ESMA or European Securities and Markets Authority.

The non-EU branch of 24Option is operated by Richfield Capital Ltd and licensed by the IFSC, or International Financial Services Commission of Belize. The license number here is IFSC/60/440/TS/17. This registration, and those for the EU version of the company, mean that they provide their clients with the highest level of protection possible under the ‘Retail’ designation.

Is it Legit?

If you’re new to the trading market or if you’re not quite sure about this new firm you can feel more confident knowing that it’s absolutely legit. It’s a regulated broker, holding funds in segregated bank accounts. Further, it’s subject to random platform checks and strict regulations.

Upon careful review, 24Option is most definitely a well-recognized brokerage firm, that is currently leading the way when it comes to online trading around the world. This means you do not need to worry about a scam when you choose to invest here or research the options offered through the platform.

This firm is well known for following regulations and adhering to fair pricing guidelines and transparent quotes for all assets, at all times.

Trying a Demo Account

For those who are interested in trying out this system before investing there is a demo account that will let you test out both yourself and the platform. In fact, with the demo you’ll be able to trade in a simulation, so you can get the hang of the process, and you’ll see how it all works when using 24Option.

You’ll be given an investment of $100,000 to work with as you plan out your strategy and make investment decisions. From there, you can try out each of the features and tools, without having to worry about losing real money while you’re working it out.

The Trading Platform

When it comes down to the trading platform you will have two different options to choose from. First is the proprietary platform created by 24Option. This platform is designed to be user friendly as well as to allow quick trades. On top of that it provides a range of details about potential trades and allows you to choose the format of the charts provided.

You’ll find access to daily market updates as well as an economic calendar are built right into this system. Also, customer support is available directly through the platform, so there’s no need to leave if you have any problems or concerns.

The second option is MetaTrader 4, which is a well-known platform known for being user friendly and highly reliable. In fact, this software has been around for decades and has been providing quality information and services for all of that time.

You’ll have advanced chart options through this system and you can even initiate automated strategies through it that you won’t find with the proprietary software. With both, however, you will find some important features.

Both platforms are going to offer you mobile access to all of your trades and to the full services of the platform. However you’ll find that the MetaTrader 4 does this through an app while the proprietary format is available through your web browser.

You’ll have are range of trading options including American and European stock CFD’s, spot commodities, cryptocurrencies, financial assets and more available through either of the two platforms that you choose to work with.

Proprietary Trading Platform MetaTrader 4 Trading Platform
Format Simple Advanced
User Friendly Yes Yes
Automation No Yes
Open Position Tracking Yes Yes
Mobile Version Web Browser App
Trading Options Currency pairs, American stock CFD’s, European Stock CFD’s leading equity indices, spot commodities Currency pairs, American stock CFD’s, European Stock CFD’s leading equity indices, spot commodities
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Resources to Help Your Trading

If you’re not currently an expert in trading that’s not a problem with 24Option. They actually provide a large amount of educational materials that are designed to help you become a better trader, whether you’ve never traded before or you already consider yourself an expert.

You will find how to guides on how to use the platform itself as well as on forex trading and more. If you’re looking to learn more advanced techniques and skills these are also available, as are trading strategy guides to give you options. There are even webinars and seminars available through the education section of the platform.

All of this information is designed to provide traders with the background they need to develop their skills and continue to learn new options to try. By evaluating different strategies it’s also possible for traders to develop a better understanding of what works for them and which trading style is the best fit for their needs.

In order to make the most informed trades and ensure that you are on the right path it’s crucial that you have the right information to support you. This is another area where 24Option excels, offering you advanced analysis through Trading Central. These analyses are designed to offer you information on the most popular assets and can be customized to fit your trading style.

If you’re looking to enhance your success you can utilize these guides and analyses as a framework to point you in the right direction. You’ll be able to learn even more by utilizing them to their fullest extent. Not only that but you will be able to see what others are finding successful and execute those techniques into your own trading.

Finally, the economic calendar allows you to keep up on economic and political events. In fact, it gives you updates on all different types of news that could have an impact on your trading. Not to mention it’s customizable so you can choose when you want to receive updates, for what platforms or news outlets and what type of information you’d like to receive.

Customizing this area enables you to receive updates only the way you need them, rather than crowding your inbox with information that does not pertain to the way that you trade or the type of information that you take into account in the process. This can aid in the implementation of your current strategy or in trying out new strategies. Likewise, you can change your customization strategy as often as you choose.

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The Payment Process

Payment processing, both to make deposits and withdrawals, can be a difficult aspect to consider. You want to be sure that what you’re getting is secure and simple to use, which is what you get through 24Option. You can actually use just about any method of transfer that you like, including:

  • Wire transfer
  • Giro Pay
  • Astro Pay
  • MasterCard
  • Visa
  • Discover
  • OKPAY
  • Perfect Money
  • Skrill
  • Neteller
  • Switch
  • JCB
  • Qiwi
  • iDeal

Using each of these platforms means that no matter where you are in the world you should be able to access 24Option and you should be able to use the platform or credit card you currently have to deposit money and get started. When you’re ready to withdraw your earnings you can do this through the same platforms, making it simpler for you to gain access.

All you need is $250 to deposit as a start and you can begin your first trade immediately after you make the deposit. This means you don’t have to wait around for processing or a hold period once you’ve added money to your account.

If you’re planning to withdraw money you will need to give the process 24 hours to complete, which is faster than you will find with most other platforms. This allows you to reap the benefits of your earnings as quickly as possible. Not only that but you will be able to withdraw as much as you like at a time, and there are no fees charged for either deposit or withdrawal.

What may be even more important to you is the fact that all banking information, transfers and more are carried using the highest quality SSL encryption and level 1 PCI international payments. This is done to ensure that your personal information is always protected and remains confidential.

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Customer Service Quality

The first step in receiving assistance with questions or concerns that you may have is to reach out to the FAQ section of the website. This will allow you to get feedback and information on some of the common difficulties that users have found. If your question is not answered here, however, you can reach out to the customer support team.

There are support team members available at any time and with multiple language capabilities. This means, no matter where you are from, there will be someone who can work with you, in your language, to solve your problems or concerns. Help is also available through phone, live chat or email, to fit your convenience.

For more in depth situations or concerns you will be able to communicate via email and make sure that you are getting more information as a response. This type of contact is also good for those who don’t have the time to wait for a response but want to make sure that their question or comment is addressed.

Customer service personnel are highly skilled and trained and understand how to take care of nearly any problem you may be experiencing with the system as a whole or with your personal experience. This enables problems to be resolved quickly and ensures you can get back to your trading with as little interruption as possible. The goal of the customer service team is to make sure you are able to use the platform the way you prefer, at all times.

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The Bottom Line

Overall, this is a platform that allows you secure trading, online and has done so for nearly a decade. Their customer support is top notch and their trading platform is likewise high quality. Overall, they offer a well-regulated service that keeps you safe and allows you the control you want over your trading.

If you’re looking to get involved in trading forex, cryptocurrencies and CFD then you’re definitely going to want to check out 24Option. It offers a little of everything that you’re looking or and in a way that’s convenient, whether you’re a new trader or an experienced one.

In general, you’re going to have a platform that enables you to interact and trade in a way that you are comfortable with but that will also train you in new options and opportunities. By using 24Option you will be able to get involved in some of the hottest trading currently happening in the technology sector. It will give you better access, but still full control over everything you are doing when it comes to your own investments and trading.

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