24option.com is one of the most popular binary options brokers. This is because this broker offers returns that are at the top of the market, does a lot to educate its traders, and deals with deposits and withdrawals fast and transparently. Do you want to know if this option broker is the right one for you? Find out in this 24option.com review.
Binary options offered
24option.com has an extensive range of binary options. There are several types of options that you can trade: high/low, above/below, boundary, and touch/no touch. Especially the above/below option is an addition to the better-known types of options. With an above/below option you will have to predict if, after expiration, the underlying asset will or will not be above a certain (challenging) target price. If you're right, it will give you a return of 110-250%.
The availability of underlying assets that you can trade at 24option.com is reasonable. In total there are about 60 underlying assets available, including equities, major indices, commodities (oil, gold and silver) and currencies. This is about average for an option broker.
Although the total number of underlying assets is average, 24option.com excels in binary options on foreign currencies. You can trade as many as 30 different currency pairs, including exotic currencies such as the Turkish Lira, the Norwegian Krone and the Russian Ruble. We rarely come across these currencies at brokers. For the real forex specialist, 24option is therefore the best binary options broker.
Risk and return
On normal options (high/low, touch/no touch and boundary) you get up to 89% return at 24option.com. That is particularly good, and we know of no broker that goes over it. This significantly increases the profitability of your trades.
On above/below options can even book returns up to 250%. However, these options have a higher risk, because the chance that you end up 'in the money' is smaller.
The trading platform
Trading in binary options at 24option.com (review) is fully web-based. This is to be expected of a modern broker. The trading interface is clear and easy to use. You simply select the binary option type that you want to trade, click on the underlying asset, and a screen will appear with detailed information. There you can see the price chart, the time to expiration, the strike price and the yield after profit and loss. You set the amount you want to buy an option for, and then you can follow the development of your investment in the background.
In addition to the standard option software, 24option also has a special mobile version. This is accessible from any smartphone with a web browser. For Android there is also an Android trading app available in the Google Play store. This way you can follow the market and give orders on the go.
Minimum deposit, position size, and bonus
To start trading at 24option.com, you'll need to make a minimum deposit of $250, or if you open an account in pounds not less than GBP 250. (If your bank account is in pounds, we recommend for you to also open a GBP account at 24option.com, in order to avoid exchange-rate costs.) This minimum first deposit is on the higher side.
24option.com focuses on the more serious trader (which is reflected in their choice of teaching materials and support) and 250 pounds is a small amount for professional investors. We are very positive about the speed with which this broker processes deposits and withdrawals. Often brokers are slow, especially when you want to withdraw money, but 24 option understands that professional traders want to be able to have quick and easy access to their money.
You can make deposits and withdrawals with a credit card, via the widely used online payment service Skrill, or by bank transfer. Unfortunately, 24option.com does not use PayPal. Also good to know is that with 24option.com there is no minimum withdrawal amount, so you always have access to your entire capital.
For new traders 24option.com has an attractive bonus in store. Your welcome bonus can be up to 100% of your first deposit (depending on your account size). Click here to open an account and claim your bonus.
Education of traders
A successful trader is an active trader, and a broker earns most money from active traders. That's why 24option.com puts in a lot of effort to make you a successful binary options trader.
On the website of 24option.com (click on 'Education Center') you'll find a free PDF e-book and an interactive e-book (both in English). You can also read these books if you are not a customer at 24option, so there is no reason not to do it. Especially the interactive e-book is very educational.
In addition to these books, this broker also has made a number of free trading videos available. These videos cover topics such as technical analysis, fundamental analysis, risk management and the psychology of trading. 24option.com also organizes an online webinar every couple of days on various trading-related topics. You can follow these webinars even if you are not (yet) a customer, so use them to your benefit. You'll find the webinars on the website under the 'Free eCourse' header in the Education Center.
To traders who open a Gold Account, 24option gives a one-on-one training session. Option traders with a Platinum Account even get a private trading coach at their disposal. This helps to analyze the market and to make better trading decisions.
Conclusion of this broker review
24option.com is a very good broker for serious traders. The returns are higher than at many other brokers, deposits and withdrawals processes are fast and transparent, and the trading software is easy to use. We are very excited about the extensive lessons and courses offered. What keeps this broker from getting a perfect score is the small number of stocks and indices available to buy options on (though many currencies), and the fact that the minimum first deposit is on the high side (GBP/USD 250). In spite of these minor drawbacks, we can strongly recommend 24option.com, and we'll give it a rating very good (4.5/5 stars).
Would you like to try the offer of binary option broker 24option.com? Then open an account here now. You can use it to take a look at the 24option.com software for free and without obligation. In addition, you get up to 100% bonus on top of your first deposit!
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Binary options broker 24option.com review summary:
|Types of options:||higher/lower, above/below, one touch, boundary|
|Min./max. position size:||$24 / $40,000|
|Term of options:||60 seconds up to 24 hours|
|Binary options on:||Stocks, indices, forex (!) and commodities|
|Minimum first deposit:||GBP/USD 250|
|Payment methods:||& Bank transfer|
|Bonus:||Up to 100% bonus on your first deposit|