24Option is one of the first Binary Options Brokers to arrive in 2010. They use the TechFinancials Trading Platform, which is not the most common but, at least in my opinion, one of the better ones. The main reason it is one of the best is due to the superior payout, which is 89%. This is significantly higher than most other Binary Option Brokers, usually offering up to 75-81%. As with all brokers there are some good things and some bad things. What is not so good is that 24Option is incorporated in Anguilla, a tax haven. This means that there is no regulation to speak of. The minimum deposit is $250, which is somewhere in mid territory ($100-500 common). In early 2012 they added 60 sec Binary Options as this seems to be in vogue at the moment.
24Option offers a very good range of underlying assets. No the most diverse offering but close enough. They have increased the number of assets since inception, which bodes well for the future. There is certainly enough for all, whether you prefer Forex or Stocks. Their main deficiency seems to be in the Commodities, where they only offer three underlying assets. They also offer some Asian Stocks and Indices, which is good if you trade from Asia. For our European friends there is also a lot to choose from, both in regard to Stocks and Indices. Besides the hub for the Forex market is London, which makes it easy for Asian (evening) and European traders to trade currencies.
As far as we have experienced, the reliability seems top notch. We have never run into problems with the trading platform from TechFinancials. All web based trading interfaces have one problem. You will notice that sometimes the confirmation of the trade will take more time than usual. Is is due to your internet connection and the load on your browser. Try to use a browser like Chrome for trading only without any add-ons. You will notice that the interface will run smother this way. The whole site seems to be on a SSL certificate which is great. Safety is always a good thing.
Charting is good in comparison to others. In general all Binary options Platforms have very basic charting, not really suitable for trading. There is just not enough information to be able to make sound decisions. There are free web charting available that are much better than the charts brokers provide. The 24Option charts can basically only be used to better control your entries. But in comparison to other platforms, 24Option looks good. For example the TechFinancials Platform has an arrow in the chart which you can get more chart data. Most other platforms do not provide this.
Fairly easy to use with a filtering option to only display the assets you like. There is also a way to get real time news from Yahoo for each underlying asset. That doesn’t work for all assets, for example Crude Oil, but works for most. In essence there is not much difference in user friendliness between platforms and sometimes it can be a more of a personal choice than anything else. Within the Binary Options community very few brokers offer a demo account. Now 24Option do offer a demo account, but the problem is that you have to fund an account first and then you get to use the demo account. That’s strange and really defeats the purpose of the demo account in the first place. It would be fairer to offer it at least upon request, if they don’t want to use it as a marketing tool or as a service to their customers. Depositing and withdrawal of winning also seems easy. Especially depositing is very ease, as easy as purchasing a product online. There are lots of ways of depositing your trading capital, but one is sorely missing – PayPal. That’s a pity because lots of people have grown used to using PayPal as a save way to do business on the net.
Since 24Option has been around for a while support is good. Many different languages are spoken and support is usually swift. Except for the usual phone and email support you can also start a Live Chat and interact quicker than with email. Another thing that is great with 24Option is their extensive trading library. There is lots of information to help you become a better trader, including a video series that can help you progress faster towards your goal. Make use of it.
|Deposit Bonus||Up to 100%|
|Markets||Forex, Stocks, Indices, Commodities|
|Number of Assets||110|
|Deposit Currency||US Dollar, British Pound, Japanese Yen, or the Euro|
|Account Funding||Visa, MasterCard, Dinners Club, Maestro International, JCB, Carte Bleue, Dankort, CartaSi, Laser, Discover, Liberty Reserve, MoneyBookers, Money Gram, Wire Transfer|