24Option Review: Scam or Legit – Read Before Trading
24Option is an online broker software available for users who trade in cryptocurrencies as well as forex. It claims that it is well regulated and registered in official organizations. It also claims to keep the funds of users safe!
If you have a little knowledge about cryptocurrency trading or even if you are a forex trader, then you must know the significance that brokers have. For the ones who don’t know, don’t worry, we would love to educate you in that regard! Brokers are significant when you make your deposits to begin trading. If the brokers that you get matched with are not worth it, then you might lose your entire initial capital.
Cryptocurrency traders will know that whenever they sign in on a particular platform, they are matched with the broker in their region. It is essential that the broker they are matched with is well regulated and registered on official organizations. If you have read about fraudulent software, then you would know that all the hackers pretend to be brokers. But as soon as you make your deposits, all your money is gone.
But don’t worry. If you are a newcomer to the platform of brokers, then we would like to be informing you about several brokers in the series. We will educate you from A to Z regarding every broker that we talk about. This is because we individually care about your money. And our articles are based on the intentions of educating maximum people so that they do not face any unnecessary losses.
24option is only one of the hundreds of brokers present online. But if you want to know if it is worth your consideration read the entire article. Also, make sure to pay special attention because a little carelessness here might cost you a lot while trading.
What is the 24option?
As mentioned previously, the 24option is the most trusted and reputed online brokerage firms that are available for people who trade in cryptocurrencies and forex. It began functioning a long time back in 2010 and since then has become one of the most popular firms ever. It was initially used for binary options but now has become incorporated for cryptocurrencies and another trading as well.
24Option is established by Rodeler Limited, which is a Cyprus Investment Firm. It is sanctioned and delimited by Cyprus Securities of Exchange Commission that has a CIF license number 207/13. Some other brokers spread betting with a variety of providers and have very little information available about any firm on the website. The report includes how many assets are there under the management, who are the managers and owners, also importantly, how long it has been in business.
Usually, cryptocurrency trading platforms are automatic and are based on CFD models. 24option has made that business as a very hassle-free affair. However, this transition only took place very recently. This is perhaps the reason why a lot of people might have rated it as fraudulent. But don’t worry, our perception is unbiased and based on real-time testing and user reviews.
You might as well know that to trade on automatic trading platforms, and no prior experience is required these days. This feature has been enhanced by 24option as it has helped to make the newcomers aware of the whole trading scene. Moreover, 24option has also made significant advancements towards people who do not have any prior experience in online trading.
Is 24option a scam?
Because of a lot of fake cryptocurrency platforms that have received harsh comments lately, a lot of these brokers have been misrepresented. But that does not mean that all the brokers are terrible. Several brokers keep investments safe and help people make profits. Only proper research is required to be able to identify those.
Regarding this brokerage firm we can assure you that it is certainly not a scam. It is a very good trustworthy as well as a reputed firm that is used widely on a diversity of platforms. Registration is simple, and there are multiple account options available. Therefore you can trust us on this comment. Moreover, there are some other features as well, which we will discuss in this post that will make you believe that this is certainly not a fraud.
24Option gives mixed results when we talk about trustworthiness. The significant negative aspect is that the broker is regulated in Cyprus. This eventually falls under the regulatory regime. It is robust alike other fully established systems like the UK or Germany are.
There is one more primary factor that works against this broker firm, which is the lack of assured losses in trading outside France. But there is a bright side to it, that is 24option successfully participates in the investor’s compensation funds that make the brokers become more and more in the money. The client’s funds have another catch, which is the funds are well protected with anti-fraud software that comprises both the ClickSSL and Thawte. There are negative balance protections as well that restricts its clients from losing more than their initial deposits and give a place to EU regulation.
You can quickly identify fraudulent software if it does not provide you with a demo option. All the trading software know that there will be a lot of newcomers, and as such, a demo account is necessary. 24option also has a demo account facility which you should always go for first. You will be able to aware yourself of the knowledge required to trade online. Moreover, the website also claims that education is a priority for them.
Is 24option well regulated?
Whenever we talk about brokerage firms, we have to pay special attention to official recognition and regulations. Also, there are a lot of hackers who as soon as you make your deposit take away all your money and never reply you back. Brokers who are well regulated and licensed will never do such a thing. This way, you will be able to invest in a trustworthy firm which will help you create more money.
If we talk about 24option, then let us begin by educating you regarding the licenses. This software is available in two forms one for the European Union residents while the other one is for the ones who stay outside of it. For the EU residents, the 24option EU is the software while for the international residents, the 24option International is the name of the software.
The latest feature that 24option has added is the CFDs and Forex with MT4 platform that needs all the trading in just one place. This specific platform is available through 24option and provides traders with three separate types of chart. There are over fifty technical indicators, and you can customize them according to your choice. With Metatrader4 you can look after the market carefully and get a better decision of when there is an open position with CFD and Forex.
24option EU is owned by Rodeler Limited, which is a member of Cyprus Securities and Exchange Commission. Because this organization is a member of the European Securities and Markets Authority. It is well assured that this brokerage firm is financially regulated and also promotes transparency in all its steps. It also provides all the clients protection against hacking as well as going bankrupt by the hands of wrong software.
An essential thing to look for at brokerage firms is that if it promises pay out or not. Not only the pay out are imperative but also the accuracy rate as well. This platform provides an accuracy rate of 88%. This is an immensely high rate at which you can earn money and is undoubtedly one of the best. For the lower end accounts, 82% pay out is available, which is also not very bad.
Another essential feature that is associated with this brokerage firm is the portable trading option. There are a mobile-optimized website and an app which is available for both iOS as well as android. Therefore you do not need to carry your laptop everywhere you go, and your phones or tablets will function precisely the same. However, there are some functions which can only be accessed through a browser.
An interesting point to note in this brokerage firm is that it provides lots of language options for its users. Considering the trading business that goes on a global language often becomes a barrier. But 24option has taken care of this issue. It provides the choice from 22 languages to choose from, which includes Arabic, German, English, Spanish, French, Dutch, Russian, etc.
Although there is an option of basic account at 24option, you can also choose from four different account types during Registration. The only difference in all those accounts is the pay out value and the minimum amount that is to be deposited as initial capital. The four account options to be selected range from an essential, gold, VIP as well as a platinum account.
Bonuses and promotions:
Brokerage firms like 24option also provide bonuses and promotions periodically. On fake brokers, you won’t find this feature at all because all they want is to take away your money. But this firm offers bonuses that are consistently provided to all the users who genuinely invest in the software is. You can also avail cash bonus offers during Registration by a case to case basis.
Deposits and withdrawals:
The minimum amount that you can deposit is $250. This is an essential amount and almost nothing as compared to your savings about online trading. The payment options available are wire transfer etc. But if you use wire transfer the minimum amount is $1000. For easy and quick deposits as well as withdrawals, make sure that your verification is up to date.
There is another crucial feature with any brokerage firm, which is Registration. Registration in 24option takes place swiftly and hassle-free. Besides you need to make sure that you properly verify yourself for every withdrawal and each deposit to take place immediately.If you still have any questions regarding the registration process and you can read further sections for information.
there are a lot of genuine brokers that trade from automated cryptocurrency platforms. This offers its people with the option so that they can gain experience in the online trading platform. This option restricts the losses that are incurred to people if they do not know how to trade in a prior condition. This is where 24option found its legacy in ways of helping the beginners so efficiently.
We hope our customers have a hassle-free experience. And even after reading this guide you face problems then you do not have to worry at all. This platform accommodates excellent customer care service, which is available on this platform. Whenever you feel, there is any problem you can fill a natural form that contains comments, concerns and questions to the staff via email, messaging or even telephone. You can also opt for the live chatting option. How cool is that?
How do I register myself on 24option?
Now that you know the complete information about this brokerage firm, it’s time for you to look for the registration options. We are delighted to inform you that Registration is straightforward on this platform. And you do not need to go to entire questionnaires as to get yourself successfully registered here.
To register yourself on 24option navigate to the official website by typing the URL into your browser. After the site opens, look for the registration option. Enter all your details, and make sure that they are as genuine as possible. Once you get verified, you will be successfully registered on the platform. Make sure that you pay special attention to your verification because your deposits and withdrawals will not be processed unless you are a verified user.
How do I begin trading with 24option?
To begin trading with any platform, you first need to deposit your initial capital. At this platform, you will be redirected by a safe, secure an extremely efficient payment processing system. There is a range of convenient options which you can use to make your deposit as well as withdrawal at this platform. You will be delighted to know that these are very safe and can be used easily.
The options available include bank wire, MasterCard, Visa, Discover, Switch, Perfect Money, OKPAY, Scribble, Neteller, Kiwi, Astro Pay, iDeal, etc. The minimum amount that you can deposit on this platform is $250. After collecting the very minimum amount, you can begin trading, which is an excellent feature that the software offers. The withdrawal requests are processed in 24 hours itself.
Demo trading: The Demo trading mode is available for people who do not have any prior experience in trading. If you are a neophyte, then you should undoubtedly opt for this mode and educate yourself regarding all the settings that might require adjustments later. The demo trading mode can be accessed by opening an account on the demo option available when you navigate through the software.
Live trading: On both the trading platforms traders can trade through various assets, which includes cryptocurrencies, currency pairs, CFDs, spot commodities as well as the leading equity indices. An interesting thing to note about this platform is it also consists of the most comprehensive options of cryptocurrencies that can be traded in the forex market.
Pros / Cons
- It is a well-planned, brokerage firm
- It has a useful customer care service and will aid you any time.
- The extractions and pay outs a process very carefully.
- It is certainly not a fraud.
- There are multiple account options to be chosen from.
- It is one of the most productive brokerage firms.
- One can trade through many possibilities here.
- The app does not provide a fully functional mobile app where all the options are available.
There are a variety of functionalities that this software offers its customers and you should undoubtedly go for it. The features include customer care service, multiple account options you can choose from, swift withdrawals and pay out methods and an excellent reputation in the forex trading scene. All this makes this software an easy go-to for anyone interested in online trading and investment.
Besides, we support the fact that if you are a newcomer, then you should correctly stick to the minimal amount that is required for the depositions to take place. This keeps you safe if there is any loss that happens to you or if any trade goes wrong in any case.
Is 24option a scam?
No, it is a hundred per cent legitimate.
When are withdrawals processed on this firm?
It takes 24 hours to process your withdrawals.
Is Registration a stressful affair?
No, it will almost take 30 seconds to complete.