24option experiences – binary options broker comparison
Testing and using the binary options broker 24option. Our first-hand experience: Is 24option a scam, a rip off or legitimate?
24option experiences – test outcome: One of the best brokers for binary options.
The Cypriot broker with a branch office in Germany has been active since 2010 as a provider for binary options on the market. In addition to a visually and technologically well-developed web-based trading platform for binary options, 24option also offers a mobile version of the platform for use on smartphones and tablets. Just like the brokers website, the mobile trading software is also available completely in German, according to the 24option test.
Looking at the quality of the trading platform the support in the experience with 24option, it already shows how high the demands the broker are on yourself. Also, the realisable profits and the scope for trading with binary options gives the Cyprus provider many a top rating, compared to others in the industry. Our extensive test shows the brokers offer in detail. It becomes instantly clear just how numerous the advantages are for the fast-growing amount of “Players” in comparison.
Trading with 24option: only the best for all
Meanwhile 24option offers a wide range of tradable assets. In addition to popular currency pairs traders can also bet on individual stocks or international indices. There are also commodities like gold and raw oil. Traders can also find trading platform options with very short maturities from under a minute or options with several days’ maturity and options with a broad spectrum of time frames for binary trading.
The options to make money don’t end there as profits of up to 89% can be achieved on the invested capital. On the trading platform there are even additional trade types on offer such as “One Touch” and “Boundary” as well as “60 Seconds” and “30 Seconds”. For some time maturities with a length of two to five minutes have been available in order to have short-term trading experiences and to collect positive experiences with 24option.
Trading with different trading types and good extras
24option not only complements classical trading but also the additional trading procedure with a “high-yield” function. Short option maturities enable with “One Touch” and “Boundary” procedures under elevated risk return-potentials of up to 360%. These trade types can prove very lucrative in special trading situations. Every can benefit with a corresponding volatile strategy. To support an active risk management process 24option provides the established “Early Closure” function. This allows for the premature closing of a current trading position before the planned expiry time. So accounting gains can be protected whilst an already in-money option can be sold before the end of the maturity. An equally laudable and worthwhile addition is that many satisfied traders have confirmed their positive opinions of 24option. From the first deposit on the trading account to finishing on platform a free and unlimited demo account is available for the trader, which comes equipped with a balance of twice the amount of the initial deposit. Thusly it is possible to gain experience with 24option before taking action with real money.
Positive notice in 24option review: Staggered bonus
24option requires a minimum deposit of 250 euros to open a trading account. The minimum trading sum is 25 euros per trade. The in-house VIP programme is very interesting at 24option. Trading accounts that earn from 10,000 to 25,000 euros also gain the “gold” or “platinum” trader status. The capped amount per traded call/put option that the broker can provide is a sum of 50,000 euros. The upper limit for each item on one of the other trading types is 10,000 euros. Deposits and withdrawals can be made with credit cards, bank transfers or websites such as Moneybookers, Giropay and others, wherein the first payment is possible free of charge. For a second payment a fee of 25 euros will be charge and the minimum pay in is 10 euros. Gold and platinum traders have 1 pay-in a month and all withdrawals free.
Training and basic knowledge – No problem at all with 24option
On the site an page of trading resources, a video centre and an educational centre can be found containing learning materials on the topics of binary options, financial management and trading psychology, among other things. The customer service responds to questions in live chat quickly and in a friendly manner. According to our experience with the 24option, it is advisable to contact the live chat, particularly in regards to the first deposit bonus. Sometimes there are limited activities that particularly lucrative. The regular bonus staggering is as follows: 30% of 500 to 999 euros, 40% of 1,000 to 9,999 euros and a 100% bonus is even possible from 10,000 euros and up. Importantly, the applicable sales conditions are as follows: Traders must have first converted the bonus 50 times. This is one of the few things that lead to a negative opinion of 24option, but a wrong opinion. Traders who have already had experiences with both 24option and other brokers know that this is actually a very good level since it only refers to the bonus amount. The brokers are informed at all times about the bonus side and the current conditions for obtaining the deposit bonus.
Questions and answers to 24option
Which trading types are useful?
There are five trading types on 24option which the trader can decide between, so that a great deal of flexibility is ensured, which is confirmed by our own 24option experiences. Initially newcomers often opt for the trading type “High/Low” because it is the easier option. It is where traders speculate on rising and falling prices. Equally popular is the “One-Touch” option where one waits until the maturity reaches a certain price at least once. The trading type “Above/Below” involves the trader speculating at the price until the maturity either exceeds or falls below a certain level. A fourth type of trading is “Boundary” trading, also known as cross-border trade. Here it is speculated as to whether or not the price remains within a certain price range. Finally 24option also offers a “Turbo trade” in the form of 60 second options.
What does the “Early Closure” function imply?
More and more binary option brokers offer additional functions, all of which are very beneficial to traders. In our 24option experience there were some of these functions, such as “EarlyClosure”. What it means is that the trader, using this additional function, has the opportunity to close an open position
before the end of the option period, whilst a return sale take place. This function is particularly popular because potential losses can be prevented. For example, if the price of the base worth of an option is running in the “wrong” direction, the trader can leave and so avoid major losses. Since, on 24option, the resale always determines the current “value”, this can secure interim profits.
What maturities are available?
The maturities that 24option offers, which may have binary options in the receptive trading type, are very flexible. For both the short-term and some of the long-term trader there is an adequate supply available. Initially, not only will “60 second” maturities be offered as part of the “Turbo” options but traders can even use the relatively new maturity of half a minute, “30 Seconds”. In the upper regions, select maturities can range over hours or up to the end of each trading week.
What maximum returns do 24option offer?
The maximum returns that the trader can get move entirely in the upper regions, when an overall comparison is made amongst brokers. On the simple options, mainly the Rise/Fall trading type, the maximum return a trader can receive is 89%. In the “high-yield” areas a much higher return is possible, namely up to 360%. It is primarily the “One-Touch” options that should be used in practice for this high rate of return. Of course, this is maximum possible return, which can only happen in the appropriate type of trade and must be checked, especially in the tempered base values, which returns can be realised in detail. It is easy to check how high the return may be in case of winning as 24option indicates the maximum return for each option.
How do deposits and withdrawals occur?
Traders with binary options have more or less regular use of the possibility of making payments on the trading account, so that sufficient capital is always available for speculation. When gains are achieved customers can take withdrawals from the account every now and then, so it’s certainly interesting to see which payment methods are made available to the respective broker. On 24option there are numerous methods from which customers can choose, including bank transfer and credit card. Additionally, there are various websites that the trader can also use, such as Skrill, PayPal or direct e-banking. It should be noted that the first withdrawal is free, but from the second month payment a not inconsiderable fee of 25 euros will be charged.
24option: strong platform, strong returns, strong appearance
The 24option test shows a sophisticated trading platform for binary options trading with all major trading types and useful additional functions. Comprehensive trading resources provide opportunities for continuing education for newcomers. The minimum deposit is 250 euros with a minimum trade sum of 25 euros per trade. Advanced traders will enjoy the exclusive VIP programme (gold or platinum accounts) with interesting additional returns. The German version of the trading platforms is proved to be a very high quality compared to many competitors.
The range of tradable assets is average for the industry with a particularly large offer in equities and forex trading. All important assets, such as gold, oil and EUR/USD are present and many more so most traders will fully agree with our opinion on 24option. 24option offers little as target for criticism and makes a good impression overall. To sum up the 24option test, the functional and visually impeccable trading platform must be emphasised as well as the high potential returns in “high-yield” mode. Overall, traders will fully agree with our opinion on 24option. 24option offers little as target for criticism and makes a good impression overall. To sum up the 24option test, the functional and visually impeccable trading platform must be emphasised as well as the high potential returns in “high-yield” mode. Overall, 24option has a strong appearance, which should lead to many positive opinions amongst traders.