24Option is one of the newer CFD and Forex brokers out there, but they have been a well established broker for several years in other areas. This has helped them to build a clientele quickly, but that doesn’t necessarily mean that they are the right broker for you. Before you begin trading at 24Option, be sure to read over our review so that you can see what they offer and whether that fits in with your plans as a trader. Forex trading is exciting, and there’s certainly potential for profit here, but only if approached correctly. There’s also a lot of risk involved so it’s best to be cautious when choosing the best Forex broker for your purposes.
But, if you’re looking for a broker, they are one of the best out there. Keep reading to see whether they are right for you.
What Do They Offer?
24Option offers a wide variety of contracts for difference and Forex pairs. In all, they have about 120 different assets that you can select from when making your trades. Besides the Forex pairs that you would expect, 24Option also offers index and stock CFDs for their traders. You will also find a limited number of commodities available as CFDs.
Do They Accept U.S. Based Traders?
24Option does not allow U.S. based traders to create an account. There are a variety of reasons why a broker might not allow U.S. traders, so this isn’t necessarily a bad thing. There are many financial laws and regulations that brokers must follow, and 24Option is a trustworthy, well established broker. If you are located in the U.S., there are several great brokers available to you, so don’t worry. 24Option is not currently one of those.
The customer support team at 24Option is pretty strong. You can contact them by phone, email, or direct chat. Depending on the severity of your problem, any of these methods can be helpful. If you do use email, a reply may take up to 24 hours. Other methods will get you help in just a few minutes. Their team has a lot of experience thanks to the fact that 24Option has been in business for a while, and they are available to assist you any time, day or night. Customer service is one of those things that you never plan on using, but when you need it, you want to make sure that they are helpful as quickly as possible.
Opening an Account
Opening up an account with 24Option is quick and pretty easy. First, you will create an account. You’ll need a username, your email, password, and to let the site know where you are located. They will send a confirmation email, so be sure to use one that you use often. Next, you’ll need to fund your account. You can use a wire transfer directly from your bank account, a credit card, or an online wallet like Skrill, Webmoney, OK Payor Perfect Money. You can open an account for as little as $100 USD. You can also use ZAR, EUR, GBP, CHF, and RUB to fund an account with, depending on what’s easiest for you.
Having a variety of ways to fund a site is always helpful for traders, but remember that how you fund your account will determine how you get your money back. We’ve found that it’s always easiest to use the same method to fund an account as it is to receive withdrawals back from the broker. Also, the currency that you make your deposit with will be the currency that your withdrawals are made with. After you have a funded account you can request a 24Option demo account. This may help you learn the platform.
24Option does not currently offer bonuses, thanks to their physical location, regulators, and their clientele. It has become a frowned upon practice in some parts of Europe to offer these. In order to appeal to as many clients as possible, 24Option does not give out bonuses. They have many other strong offerings, such as a thorough education center, that can help their clients in other manners, if broker benefits are important to you.
As mentioned above, 24Option offers more than 120 different assets on their Forex trading platform. They have all of the Forex pairs that you would expect from them, along with indices, a limited number of stocks, and commodities, such as gold.
You also have access to trading cryptocurrency trading with 24option. This means you can trade all the major coins like Bitcoin, Ethereum and much more. Probably the fastest growing assets to trade out there, while using a nice platform that will help you get going.
24Option is completely compatible with the MetaTrader 4 trading software. This has become the most widely used and most helpful trading tool out on the market today, so we highly encourage you to link your accounts before you begin. MT4 gives you access to trading tools, technical analysis software, as well as expert advisors, trading robots, and much much more. Be sure to practice with a demo account before you begin trading with real money.
24Option has competitive spreads. These will vary depending on the asset, the time of day, and how popular the asset is. Be sure to see whether they have the best spread on your assets of choice before beginning so that you can assure yourself that you are trading with the right broker before you make your initial deposit.