24Option is one of the leading binary options brokers for a couple of key reasons. They’ve been around since the beginning and have a long history of fair dealing, they are regulated, they are built on the TechFinancials platform, they provide top level services and command the largest market share. The company is owned and operated by Roedeler LTD, a financial services company registered and regulated by CySEC, license number 207/13, LOCATED AT 39 KOLONAKIOU STREET, AYIOS ATHANASIOS, LIMASSOL CY-4103. 24Option is also registered with more than 2 dozen EU nations, offering MiFID protected binary trading in countries including Germany, England, Italy, Sweden, Ireland and many many more.
The company operates throughout Europe and is registered with more than 2 dozen EU countries including Germany, Italy, the UK and the Netherlands. As such it is one of the widest accepted and most trusted brokers on the market, probably why soccer team Juventus chose to partner with them.
Update February 2017 – 24Option has decided to drop technology provider TechFinancials. My sources tell me this will mean no change to trading, the platform will remain the same only powered by in-house technology. Same with payments, processing will now be made in-house, alleviating risk for the company and the traders. The move enables the broker to better keep up regulation and trends within the industry as well as providing the freedom to add new products such as simplified forex, CFD’s and ladder options.
The Geek’s Review Of 24Option
24Option is the second broker I ever used and remains one of my favorites. It is built on the TechFinancials platform which includes a full asset list, plenty of options types and a wide range of expiry. The company is CySEC regulated and operates throughout the EU under the MiFID and other applicable laws. This is also the flagship broker using the TechFinancials platform. TechFinancials as you know is now a publicly traded company and can be purchased on the London Stock Exchange.
The platform support High/Low (call/put), Above/Below, One Touch, Boundary and Short Term trading. High/Low options are standard call/put trading while Above/Below are similar in nature but come with set strike prices and higher returns. They trade just like a high/low but require larger movement in the underlying asset to be profitable. One touch options have the highest payouts but also come with the greatest risk. They can be bought on the weekends, when the market is closed, and require the asset to close at or above the target strike price only once before expiry.
Update February 2017 – 24Option now supports Forex, CFD and Ladder Trading. The new platform looks almost the same as the original, just a little newer, nicer and cleaner. The trading is exactly the same with the addition of the new trading tools. The boundary options are called 100% payout now, because they give 100% payout if the asset price moves above or below a set strike price by expiry.
The asset list is strong and includes 32 forex pairs, 22 indices, 8 commodities + 3 pairs and over 50 stocks. Expiry ranges from short term 60 and 120 seconds to intraday, end of day, end of week and end of month for heavily traded assets. Returns run in the range of 75% to 85% for high/low options and go up from there for the more exotic. Additional features include early closure which allows you to lock in profits on winning trades.
Update February 2017 - 24Option’s new platform support limit orders. You set your trade to execute when price reaches a price of your choosing.
Banking With 24Option
Banking terms are pretty standard for the industry but backed up by CySEC, the MiFID, the Investor Compensation Fund and 24Options high profile reputation. The minimum deposit is $250, not high and not low, and can be enhanced with a variety of different bonuses. Deposits can be made by credit card, wire transfers and eWallets like Netteller and Skrill. Withdrawals can be made at any time but will cancel any bonuses you receive if made before bonus turnover terms are met. Typically, withdrawals will take 5-7 business days to process and clear but eWallet transactions can be as quick as same day. The first withdrawal made each month is always free but there are fees after that for additional withdrawals.
There are quite a few bonuses available from 24Options with varying terms but I will go over some of the standards. First deposit bonuses can go as high as 100% depending on deposited amount. Turnover may vary as well, depending on the exact nature of your bonus topping out at 50X for cash back accounts. Other bonuses include “Technology Bonuses” that deliver current generation iPads and other devices to clients. These require high deposits, $10,000 or more, and include turnover requirements as well.
Update March 2017 - 24Option has adopted the newest CySEC/MiFID regulations pertaining to bonuses. Specifically, no bonuses will be tied to trading volume. No bonuses are offered. There are rewards programs.
Social Trading At 24Options
24Options does not have automatic copy trading but there is a traders choice indicator. This shows the percentage of traders with open positions on an asset that are bullish or bearish. As a signal generator it is lacking but can be used as a basis for more in depth analysis or to confirm signals acquired elsewhere.
Extra Features At 24Options
24Options has a couple of really nice extra features ranging from trade tools to education and contests.
- Trade tools include an Early Closure feature that allows traders to lock in profits. It will deliver up to 70% of the ITM payout if exercised before expiration.
- Education. 24Option has one of the best video education centers for binary options on the internet. It includes 3 levels of courses that can be accessed with a simple sign-up, no deposit required. Education extends to regular monthly webinars.
- There are many contests at 24Options, my favorite is the “Your Island Your Rules” competition which basically lasts all year and the winner receives what amounts to their own private island. Other competitions are also available with prizes like tickets to premium seats at Juventus matches.
- Charts. 24Option’s platform support professional style charts. Charts display in candlesticks and can be adjusted to time frame. Drawing and analysis tools such as MACD and RSI are included.