Broker Name: 24Option
Platform: Tech Financials
Return/Refund: up to 91% / 0%
US Traders Accepted: No
No. Of Assets: about 130
Demo Account: Yes
Deposit Options: C.C., WireTransfer, Moneybookers, CashU and more
Language: 16 all in all including English, German and Spanish
Minimum Deposit: $250
If you’ve been checking out several brokerages, you’ll be surprised to see that 24Option is not using SpotOption. After all, most of the popular brokerages are using the SpotOption platform. 24Option is using the Tech financials platform. Is this a good or a bad thing?
Once you’ve gotten past the initial surprise, you’ll see that this platform is actually very good. The fact that 24Option is not using the more popular platforms shouldn’t be taken against it. This is because just like the most popular options, the Tech financials platform is also very user friendly as well. After all, it’s web-based as well.
Speaking of the Tech platform, it plays a good part in making 24Option very user friendly. As mentioned, it’s a web-based platform so you don’t have to download anything. This makes it very simple and easy to use.
Being on a web-based platform, 24Option did a good job in making sure that their website is beautiful. In fact, check it out and you’ll agree that it’s one of the best as far as appearance is concerned. At the very least, you can see elegance when looking at the website.
Of course, you have no use for an elegant and beautiful website if it’s not functional. As far as function is concerned, 24Option scores high marks especially with how simple trading is when using the platform. You can trade different option types with one click of the mouse.
For starters, information is readily available so you can make an informed decision when trading. Unlike in other platforms wherein you need to do a couple of clicks to see information about an asset, all you need to do in this platform is to click on the asset once and the information will appear above. In addition, additional charts are also provided for additional information.
If you’re just starting out, you’ll find that the FAQs section is very useful. You’ll really find a lot of your questions answered there. This way, you don’t have contact their customer support team; not that the customer support team is bad. This will be discussed in more details later.
In addition, you can also check out the glossary section. Both the glossary and the FAQs section are updated regularly.
No. of Assets and Expiry time
There are about 130 tradable assets. In addition to 45 stocks and 31 currencies, you can also trade on 21 indices and 10 commodities. Of course, it can benefit them and their traders if they’re going to increase this number.
Commissions, Support (Customer Service) and Effective Return
It’s good to know that you don’t have to pay 24Option just so you can make an initial deposit or purchase options. Also, the first withdrawal every month is free. You’ll be charged $30 for succeeding withdrawals.
We’ve also mentioned customer support as being “not bad”. Actually, it’s pretty good. First of all, you can contact them via their 13 international numbers. In addition to English, you can also use Spanish, Italian, French and more.
If you don’t have time to pick up a phone, you can also send an email. But if you’re like most people, you prefer the live chat option. You’ll be happy to know that their live chat team is very friendly and helpful.
The effective return is among the best at around 70% to 91% for In the Money. For most assets, the average is around 85%, which of course is pretty good. As for Out of Money, you can expect something around 5% to 15%.
Deposit and Payment
The deposit amount is higher than most brokerages at either $250 or €250. For most people, the difference is not that significant considering the benefits offered by the platform.
This brokerage has some strong extras. For starters, you don’t have to settle with just high or low trading because there are other trading options. First, there’s the one touch option wherein you can make a decision whether an asset will be at a specific value or not before expiry time. This is a good option for trading over the weekend. There’s also the boundary option wherein you can get a 75% return if the asset falls in or out a set boundary.
24Option scores strongly in all categories. This platform is very trusted in the industry so you can trade in confidence. As mentioned, trading here is very easy. In addition, customer service is top-notch.
Unfortunately for US traders, EU regulations now disallow US traders.
The mere fact that it’s highly regarded in the industry means it’s a good brokerage to try. This is especially true since there are a lot of scammers in the industry. If you want to be able to sleep peacefully after trading, this is a good place to do your trading.
This is a very user friendly platform which gives you tools that can help you succeed like information from Yahoo! Finance and other informative materials. If you look beyond the fact that the list of assets is rather short, this is the perfect brokerage to try.