24option has been designed as an easy-to-use platform for clients/traders. It has VIP accounts you can choose from including the standard, gold or a platinum accounts. Each account has additional unique features. For example, having a Platinum account you can receive a personal training session. With 24option there are several asset groups to choose from such as Currencies, Stocks, Commodities and Indices. This popular binary options broker is currently offering all the help you need with live chat, email and phone assistance. There are also videos you can watch if need be and have several languages to meet every ones requirements. 24options main goal is to educate people so they have designed an education center which is about trading videos and e-books, free e-courses and much more. 24Option delivers a daily report of what is happening around the world to let us all know all about current news events.
NOTE: This review was written in 2013. Please also read an up to date 24option review!
Like other Brokers 24option needs the identification of the account holder to withdraw profits. Official ID with a photograph, proof of address and if a credit card was used to deposit funds then a copy of the credit card (front and back showing only the last 4 digits).
You can use Money Bookers, do a wire transfer or use your credit card when withdrawing. BUT there will be fees made when taking money out of your account. CREDIT CARD: 3.5% MONEY BOOKERS: 2%
Wire Fee: 30USD / 25EUR / 20GBP/ 2500JPY
The minimum withdrawal is $10 and with the VIP account you are with there are different stages of withdrawal fees. For a standard account, your first withdrawal will be free. Having a Gold account your first withdrawal will also be free but after that there will be a $30 fee if you withdraw in the same calendar month. And having a Platinum account there are no fees at all!
There are many different instruments to choose from with 24option. Short term is the newest feature added but One touch, Boundary and High/Low are the commonly used. Check out these features below:
- Short Term & 60 Seconds Trading is where you can make a trade on a 60 second, 2 minute or a 5 minute trade.
- Boundary Feature is a binary option where the trader will decide whether the market price at the current time of expiry will be inside a price range or outside of the set range.
- One Touch Feature is where the trader will decide if the market value will stretch to a set price through the life of the option.
- High/Low Feature This instrument is identical to what other brokers have. The trader has to decide if the asset’s market price will expire higher or lower than the existing market price.
As with similar brands such as Anyoption, you can see how much money you will win or lose before you even make a trade. So that is, as well another great feature 24option has to its platform.
Watch the comparison review between Anyoption and 24Option on YouTube
Starting Minimum And Account Incentives
Starting out with 24option you need to make a deposit of $250. Once your money is in your account you can start trading, starting at $24 a trade. The payout is between 70-89% but 0% if you lose. Unlike Anyoption you can get up to 15% back if you lose a trade. Also like I mentioned above, with the VIP accounts, you get additional advantages with the higher you go.
Standard Account– Lets you have access to all of the assets any time of the day and you can use the One touch, Boundary, high/low and 60 second features.
Gold Account– This is very similar to having a standard account except you get more. You don’t only get to trade with the features but you can trade on any assets, 24 hours a day and there will always be customer service. If you become a Gold account member you will receive a personal training session from an experienced market expert and will also receive an extra 2 % return on every trade you win on.
Platinum Account– Being a platinum member allows the same as a standard and gold account but you will get an extra personal training session, a dedicated personal coach who will be available at any time to help your needs. And you will also receive an extra 4% return on your winning investments.
In conclusion 24option is a top-rated broker, with many advantages and the 2nd largest in the industry. Traders are save with 24Option and enjoy a very user-friendly platform. The main downfall with this platform is the $250 deposit as there are cheaper brokers out there. I better not forget to mention you will get no money back if you are out of the pocket or in other terms you lose a trade and there will be fees when withdrawing. Over all 24Option is a great platform with a learning resource center with all the information beginner traders may need. The web design is easy to understand and is full of answers. There are some great features to choose from and the VIP’s sound worthy. Check out 24Option platform and for additional broker reviews visit Mike’s Binary Options Broker Reviews.