24option is a binary option broker incorporated in 2010 operating out of Cyprus. They use the TechFinancials trading platform.
24option is now CySEC Regulated
UPDATE June 2013: 24option is one of the few brokers to have acquired a CySEC CIF license making them a regulated binary options broker throughout the EU.
24option Review Summary
Payout % 89%
Minimum Deposit $250
US Friendly No
Demo Account Yes after Min Deposit
Bonus Up to 100%
Currencies USD, EUR, GBP, JPY
Open your FREE account at 24Option
No. Assets 98
Asset Classes Stocks, Currencies, Commodities, Indices
Trading Features High/Low, Above/Below, One Touch, Boundary, 30 Seconds, 60 Seconds
Software Platform TechFinancials
Open your FREE account at 24Option
Customer Service, account deposit and withdrawal were satisfactory. Trading platform is simple and easy to follow. Execution was timely. Had most binary option features except for Double Up and Roll Over. Doesn’t provide expanded trading screen and chart, but does allow you to scroll back on the chart to see earlier time frame.
Particular items which stand out are as follows:
- Early close feature helps to limit risk.
- Asset filter is a really nice feature.
- Full range of trading features, including 60 Second Binary Options
- High Yield Touch and Boundary options
- Yahoo finance RSS in the trading box.
- Large selection of training videos
Assets Available to trade: Assortment of 9 Stocks, 11 Currency pairs, 3 Commodities and 13 Indices
US Accounts: Yes
Currencies Accepted for Deposit: USD, EUR, GBP, JPY
Minimum Deposit Amount: 250USD or other currecy equivalent
Deposit Methods: Credit Card, Wire Transfer, MoneyBookers, Liberty Reserve, Money Gram
Withdrawal Time Frame: Wire Transfer and Credit Card take up to 7 working days, Moneybookers, Liberty Reserve and Money Gram take1 day.
Minimum Investment Amount: 24 USD
Maximum Investment Amount: High/Low $20,000 other trades $5,000
Support: 24/7 Live chat, phone support in 13 countries.
Demo Account: Offers a Demo Account after opening account and making minimum deposit.
Bonus Structure: For July up to 100% bonus. (Check with customer service for current bonus offers).
Trading and Features:
Opening the 24option home page takes you to a Sign up/Login page.
When you log into the account you are taken to the trading platform:
The Trading Screen displays 4 trading Tabs: High/Low, One Touch, Boundary, 60 Seconds
Standard Call/Put trades. Default trade screen displays an assortment of High/Low options. Trader can select Indices, Forex, Stocks and Commodities by clicking the corresponding link. There is also a dropdown menu to choose from a list of all the available assets. Select an asset and the trade box is displayed.
Trader can also select Above/Below trading, where asset must close above or below or certain strike price by the expiration time.
One Touch Binary Options
Trader can choose whether asset will touch a certain price in a given time period or not touch a certain price within a given time frame.
24option offers 2 types of One Touch Binary Options:
- Touch/No Touch- Trader can choose whether asset will touch or not touch certain price.
- High Yield Touch- Provides returns of 200-350% if asset touches given price.
Boundary Binary Options
24option offers 2 types of Boundary Binary Options as well:
- Boundary- Trader can choose whether asset trade inside or outside of a given price range.
- High Yield Boundary- Provides returns of 200-350% if asset trades outside of a given price range.
Clicking the filter icon opens the filter screen:
From the filter screen trader can select specific assets from the different asset classes that he wants to follow and they will be displayed on the trade screen.
24option 60 Second Binary options are the same as standard High/Low Options except that they expire in 60 seconds.
How to Trade on 24option
From the trading screen select the asset to trade. The trading box appears on the top of screen:
Select High or Low, enter investment amount and click Buy to execute trade. Open Trade box shows your positions:
Note: In the above Open Trade screen Trader has 5 positions. From top to bottom he has a EUR/USD Call option, an Oil Below option, a USD/CAD Touch Down option, a GBP/USD Boundary option and an Oil Put 60 second binary option.
Closable Postions: Certain positions allow for closing a position before the expiry time. A fee is charged for closing early.
In the above example trader can close the position before the expiry time. He pays a fee of $4.15 in this case, but protects the balance of investment if he feels trade will close against him at expiration.
To further explore the 24Option platform or open an account click here>>