24Option, founded in 2009, is a true binary options pioneer. 24Option is owned by Rodeler Ltd. Rodeler Ltd is a company operating under Cyprus Securities Exchange Commission (CySEC) license number 207/13. The company’s registered office is located in Limassol, Cyprus CY-4103 at 39 Kolonakiou Street, FREMA PLAZA, First Floor, Ayios Athanasios. On top of the CySEC licence, 24Option (Rodeler Ltd) is also registered with the British Financial Conduct Authority (FCA) since 04/12/2013 and Rodeler BaFin in Germany.
Outside the European Economic area, the services of 24Option (24option.com) are offered by Richfield Capital Limited, a company that belongs to the same group as Rodeler Limited and is regulated by The International Financial Services Commission Of Belize (number IFSC/60/440/TS/15-16).
Is 24Option a Scam?
24Option is NOT a scam. 24Option was regulated in 2013, under the CySec regulation. That means that the money deposited to the provider is safe. For more Information about Binary Options Regulation see the link provided. 24Option regulation is of course the main reason why 24Option was gladly added to the list of non-scam brokers, however, and don’t get me wrong- just because a broker is regulated, it doesn’t mean that it doesn’t suck! As our readers already know, there are more than one binary options brokers that suck, despite being regulated. Fortunately, that isn’t the sole reason 24Option was added to our list of non-scam brokers; 24Option has a great user-interface and the trading process and the overall navigating are simply great. The trading process is easy to use and the live charts are available by clicking on the asset. If a trader wants to examine the asset more closely, (s)he doesn’t need to browse to other pages; a click on the asset tab will pop out a small window just above the asset with information by Yahoo! and other sources. These great advantages of 24Option made this company one of the best binary options brokers out there. 24Option has improved a LOT since they were founded, the platform has been re-designed, number of assets has increased and staying up to date seems to be their ambition.
The broker has always maintained an above average traffic to their website and this further goes to show that they are a legit company, doing business in a professional manner. The traffic for scam brokers tends to go down when people realize they are being played, so the increasing traffic for 24Option is another indication they are not a scam.
Editor’s Note- Why 24Option DOESN’T Suck in 50 Words?
Some Binary Options brokers are just a Scam, some just Suck. 24Option is a member of the exclusive list of brokers considered to be highly respected and truly inspiring. Thanks to CySEC regulation we can revoke any suspicion of a scam by 24Option and an attractive easy-to-use trading platform with a good customer service makes 24Option a user friendly prime and trusted broker. After so many years in the industry (they were one of the first brokers to emerge on the binary options scene), we can safely say they proved their worth and have become a trustworthy partner for traders and investors all over the world.
Why does 24Option Suck in 50 Words?
The first issue comes to mind is actually bad news for US customers; 24Option no longer serve US clients due to Regulation in the EU. Funny how good news to EU clients is less good for US clients. Someone said EUR/USD? Another thing that I really don’t want to address to as an issue is; since 24Option became fully regulated the average return decreased with 2%. However, the regulation itself is a big plus. Also, 24Option still offers returns as high as 88% so I can’t really say this is an issue!
Should I Open an Account with 24Option?
Since their launch, 24Option’s innovative, fully web-based platform kept on growing slowly but smartly, providing investors with the proper and simplest tools needed to trade options: great user-interface, the trading process is easy to understand and the live charts are available by clicking on the asset. If a trader wants to examine the asset more closely, (s)he doesn’t need to browse to other pages; a simple click on the asset tab will pop out a small window just above the asset with information by Yahoo! and other sources. These great advantages of 24Option made this company one of the best binary options brokers out there. 24Option has improved since they were founded, the platform has been re-designed, number of assets has increased and staying up to date seems to be their ambition.
There are more than 100 assets for traders to choose from and the TechFinancial platform used by 24Option makes it easy to keep things organized. I actually found this platform much easy to use than most other platforms. Once you get used to it, the TechFinancials platform provides a better solution for most types of investors- those who trade around the clock in a matter of seconds (I call those crazy investors the high risk high profits type), and those who prefer trade more conservative. Both types of investors will find the very attractive In-the-Money return extremely satisfying- up to 88% in-the-money and the possibility of closing a trade before expiry to secure profits. The average returns are satisfying, but keep in mind they change depending on market conditions and volatility. Also never forget that investors can lose all their capital as well. These attractive returns are among the leading number in the Binary Options industry. The only downside is the relatively high minimum investment (approximately 24$ for most assets, but unlike most other binary options brokers the minimum investments change from asset to asset), which could limit beginners. Nevertheless, 24Option provide a demo so beginners could first trade virtual money and only then invest for real. Another slight downside concerned with beginners is the above average minimum deposit (250$). I usually prefer brokers who accept lower minimum deposit amounts, but in 24Option case, I can definitely say that it’s worth it, due to 24Option regulation.
Recently 24Option have become official partners with Juventus Football Club and this adds to their credibility and high profile. Yea, 24Option is a top shelf well respected broker but additional confirmation never hurts so if you’re a soccer fan and a binary options fan, you’re in for a treat. Oh almost forgot: if you’re a tennis fan you’ll be happy to know that Boris Becker and 24Option currently bring you a competition with the possibility to win 100,000 USD!!! So get your trading fingers ready because it’s not gonna last forever. Be aware, investors can lose all their capital.
Their great customer service makes 24Option a warmer home to Binary Options traders, not to mention the regulation, which is a great advantage on its own. 24Option allows the traders to invest as much as 100,000$ in one single trade, this means that this broker has no problem paying out high returns. To make things more interesting, 24Option offers prize money (up to 100 000$) to the top traders of the week!
24Option Broker Complaints
Binaryoptionsthatsuck.com do the research for you! We’re looking for broker’s complaints all over the web, checking them out and bringing the results to our readers. What we did is really simple – we searched on Google for 24option complaints or 24options fraud, scams, Etc. you can try it also. It’s unbelievable but we couldn’t find even one real complaint about 24option.
Here’s what we found: First and foremost, there’s an active discussion concerning 24Option on comments section, Complaint and Reviews Center and on Forum. Every complaint we receive is being checked and monitored by the team and I. overall, I feel most negative feedback’s addressing issues in withdrawal are not bona fide. It’s a common reaction comes from either angry or frustrated traders, but doesn’t reflects the truth. Most honest complaints are resolved by the company, so I think it’s fair to say I don’t see major issues here.
As of late, we’ve seen users complain that French and Japanese customers are not accepted anymore. This is due to regulation in those respective countries and it’s actually a positive thing that 24Option chooses to respect the legislation (we’ve seen brokers that continue to offer their services without proper authorization and this only taints their name).
24Option Regulatory Announcements and Warnings
29/07/2016: French regulator Autorite des Marches Financiers (AMF) banned 24Option from operating in France. The authority stated that “In this case, it appeared that the Rodeler Limited provider did not comply, in France, with some of its obligations of providing correct information, as well as acting fairly and honestly, in the best interest of its customers, to the detriment of investors residing or established in France”. See warning – AMF;
Bonus Bonus and bonus ,everyone wants a bonus; at 24option they have a bonus system that I really like: For example, if you deposit 5,000 USD and then receive a 70% bonus (that’s 3,500USD), you have to reach a trading volume of 50 times the bonus (not 50 times bonus + deposit amount like other brokers require). So your bonus will be earned as soon as you reach one hundred and seventy-five thousand USD in trading volume (3,500*50=175,000) An earned bonus is fully available for use in trading and it may be withdrawn. We strongly recommend you check their Bonus Terms And Conditions.
Most sites will tell you how to deposit. At binaryoptionsthatsuck.com we are not worried about that, because that’s always easy; here we care about possibly the most important part of binary options – Withdrawing your profits. Brokers don’t usually cause problems when you want to depositing money, but some binary options brokers will cause problems when you want to withdraw.
At 24Option there is no maximum limit on the amount that you can withdraw (some brokers do limit!) and the minimum is 10 USD (very low). It takes between 3-7 business days to withdraw your profit; using Moneybookers speeds up the withdrawal process and the fees will be lower. VIP-accounts don’t pay any fees for withdrawals which is amazing! Just remember that you need to send proper documents due to the regulation before you request your money to be transferred to your account.
Some traders are looking for the extras in each broker, here at BOTS.com we try to think different. This section is about what’s different in 24Option, what makes 24Option different then other brokers.
The Extra’s that we liked the most in 24options are the:
- 5 hour videos – Education is important! 24 options is brining you videos that every beginner will love!
- Free webinars, trade with a pro!
- Highest Limits (withdrawal) – Very important factor that some traders are not aware of, at 24options you will find the highest limits, read more about it in Binary Options Trading Limits.
- Longevity and trust. This is now one of the biggest brokers in the world but also one of the oldest and most trusted.
- Free signal package available on the trading platform.
User Friendly 19/20
24Option platform is based 100% web based Tech platform, with no need for any software to be downloaded. 24Option website appearance is far the best I’ve seen so far. The black background with the gold letters design is very modern and elegant. Live information about the asset and other charts are provided within a simple click on an asset and appears just above. The FAQ section and glossary are complete and up-to-date. 24Option website is available in no less than 12 different languages including English, German, Spanish, Arabic and many more.
No. of Assets and Expiry time 18/20
Total of 131 assets: 61 stocks, 34 currency pairs, 11 commodities, 25 indices. 24Option variety of assets is vast. The expiry times are great; letting the traders choose anywhere from 60seconds, 120 seconds, 5 minutes then every 5 minutes up to end of day, week or month.
Commissions, Support and Effective return 18/20
24Option don’t charge any fees or commissions from investors when they first deposit or purchase options and the first withdrawal is free. Withdrawals via Wire transfer are charged with a 30$. Gold account holders get one free withdrawal per calendar month but for Platinum account holders every withdrawal is free. 24Option support is available via 21 international numbers- in English, French, Italian and Spanish and more or via email. The live chat service was very quick and polite. The effective return is among the highest in the industry 70-88% in the money with an 82% average return for most major currency pairs, but have in mind that investors can lose all their capital as well by trading binary options. There is no Out-of-Money refund but you can close your position from ~2 minutes after purchase up to 5 minutes before it expires.
Deposit, Payment and Bonus 18/20
24Option Minimum deposit is average – 250$/250€/£250/¥50,000 or руб 10,000. Deposit is available via C.C., Wire transfer, Cash-U, MoneyBookers and many more. Withdrawals are generally available via the same methods, with a minimum of 100$ for wire withdrawals. There is no minimum withdrawal amount using Moneybookers. 24Option usually offer a bonus of up to 100%, however, from time to time 24Option offer great specials and promotions for new and registered costumers.*Bonus terms and conditions apply.
Website Extra’s 17/20
24Option innovative platform features some new extras and now also includes inside platform signals. The signals vary in strength and suggest the direction that the asset is likely to take but expiry time is up to the trader to decide. Except of the regular High\Low trading, 24Option has another two more ways to trade- One touch option, lets the trader decide whether he thinks an assets will touch a certain value before expiration time or not, usually for weekend trading. The second extra is the Boundary option for a 75% return per successful trade.
24Option Overall Rating: 91 + Regulation Factor (+3) = 94/100