24Option.com is an online binary options trading platform that is currently owned by Mika Holdings. It is worth mentioning that Mika Holdings also owns OptionFair. However, 24Option boasts a more proven history, as it was first established as far back in 2010. While the holdings company is based out of the Virgin Islands, their corporate headquarters is centred in Cyprus. Let us take a closer look at some of the main characteristics of 24Option.
Underlying Assets
24Option offers a wide range of assets in which users can trade. These include three types of commodities, ten stocks, twelve currencies, and ten indices. These are:
| Currencies | Stocks | Indices | Commodities |
| AUD/USD | Apple | CAC 40 Future | Gold |
| EUR/USD | Barclays PLC | DAX-30 | Silver |
| EUR/JPY | British Petroleum | Dow Jones | Oil |
| EUR/GBP | FTSE-100 | ||
| EUR/TRY | France-Telecom | IBEX-35 | |
| GBP/USD | MIB-40 Future | ||
| GBP/EUR | Lloyds | NASDAQ | |
| GBP/JPY | Societe Generale | Nikkei 225 | |
| USD/CHF | Telefonica SA | S&P 500 | |
| USD/TRY | Vodafone | SMI Future | |
| USD/CAD | |||
| USD/JPY |
Trading Options
24Option offers four types of trades that we want to quickly review.
- High/Low Trades: This is the most basic type of trading option and involves predicting whether the price will simply go high or low. As soon as you make the trade, the platform records the value of the asset and tracks it for the duration of the trade period. Note that this duration is based on the expiry value you choose. It’ll usually be anywhere from 60 seconds up to 24 hours.
- One Touch Trades: This is a bit of a riskier trade, and so it’s not as popular. You basically decide whether the price of the asset will touch and cross over a particular target price within the trade duration. You can either invest in the possibility of it touching the value or invest in the possibility of it not touching the value. The expiry time is the same and ranges from an hour to a day.
- Boundary Trades: These sorts of trades are only applicable to currency assets. The way it works is that you ‘wager’ whether the currency pair will remain within a certain price range. We only recommend pursuing this option if you closely follow currencies, as this tends to be the riskiest of all the options available at 24Option.
- Quick Trades: These are special trades that expire within minutes. They’re rather risky, because prices tend to quickly fluctuate up and down within a span of minutes. We recommend going with the High/Low trades, because overall trends tend to remain present over a longer period of time like an hour or two.
Payout Terms
The payouts range from 70% up to 89%. The actual payout will be shown when you make a trade. Generally, though, if you invest $100 and guess correctly, you will get $185 back. If you guess incorrectly, however, you’ll only get 15% back total. Therefore, in this scenario, you would get back only $15. These exact percentages will change depending on the type of investment you make.
Deposit and Withdrawal Methods
Transacting funds with your 24option account is virtually problem-free because this broker accepts a variety of choices for banking not just for deposits but for withdrawals as well.
Deposits
The acceptance of major credit cards makes 24option a haven of exchange with the industry standard for deposits. Aside from this method, deposits can also be done via Wire, CashU, Webmoney/QIWI/AstroPay, China Union Pay, Neteller, Skrill(Moneybookers) and Perfect Money.
Withdrawals
All withdrawals at 24option are processed to the original source of the funds which means that if you’ve used your credit card to fund your account then expect to get your withdrawn amount to be deposited back on the same card. If in case you have withdrawn a bigger amount than the amount you deposited then the remaining value will be transferred via wire transfer.
Customer Service
24option has a multilingual and professional chat support which we tested several times and most of the time the support staff was welcoming and knowledgeable. The broker offers also a phone support in several languages, but we would strongly suggest using the chat for speediness and efficiency.
Final Thoughts
We are very impressed with 24Option. While the company has only been around for 4 years, it has done a tremendous job of establishing itself as a power player in the industry. It offers plenty of assets, as well as trading options. It hosts a decent-enough trading platform. And the educational resources available on its site are incredible!
A lot of binary options brokers just throw you into the wolf pit without any training. What makes 24Option shine to us is the fact that its staff is dedicated to empowering you with the knowledge to succeed. The company will make money regardless of whether you make successful trades, but obviously, the company prefers that you succeed.
It is for these reasons that we give our full recommendation to 24Option. If you’re ready to invest your money into the binary options game, then we recommend you choose this broker!
