24Option 2020 review – Is it Scam or not Read more HERE

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Top Binary Options Broker 2020!
    Perfect For Beginners and Middle-Leveled Traders!
    Free Education How To Trade!
    Free Demo Account!
    Big Sign-up Bonus!

  • Binomo
    Binomo

    Good Choice For Experienced Traders!

24Option Review

The prices might not be the best, but this is a fantastic broker if you’re looking for excellent education and a good demo account to practice with.

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24Option – Reviews & Ratings

FAST FACTS:
• Demo Account: Yes
• Account Minimum: $250
• Regulation: CySEC (Cyprus)
• Best For: Traders looking for good education
• Asset Coverage: CDFs, Forex, Crypto, Commodities, Spreads, Stocks

Investor Warning: Trading in Forex/CFD carry a high level of risk to your capital due to the volatility of the underlying market. These products may not be suitable for all investors. Therefore, you should ensure that you understand the risks and seek advice from an independent and suitably licensed financial advisor.

24Option is a forex broker, founded in 2020 and owned by a company from Cyprus called Rodeler Limited. A company from Cyprus might seem suspicious but many brokerages who deal in binary options are based there because of regulatory benefits.

In the world of binary options, 24Option was the second biggest player, outsized only by Banc de Binary, an Israeli company that was shut down due to fraud charges. 24Option has changed in the last couple of years, as it no longer offers binary options to its clients.

Recently, 24Option has added more investment types to its repertoire, and the customer service has also been expanded in order to better manage big investment portfolios and provide better technical support. The company is currently focused on Forex trades (including cryptocurrency forex pairs) and CFD trades.

Their website offers little information about the company compared to the sites of other notable forex brokerages. This lack of transparency, paired with the fact that 24Option is based in Cyprus makes the company look untrustworthy, however, that doesn’t seem to be the case. The Cyprus Securities and Exchange Commission regulates 24Options.

24Option is not available in Canada, Israel, Iraq, Belgium, Bosnia And Herzegovina, Australia, U.S.A, Virgin Island, Puerto Rico, American Samoa, Algeria , Ecuador, Iran, Myanmar, North Korea, China, Panama, Uganda, Ukraine, New Zealand, and Japan.

Overview and Summary

  1. 24Option no longer offers binary options. They are currently focused on forex and CFD trading.
  2. The fraud accusations against the company are unfounded. Although, their users did lose money because of the company’s inability to properly disclose important information about their regulations.
  3. There are four account types.
  4. The educational resources are excellent. 24Option offers webinars, video lessons, and written articles to users. Some of these are free and available to non-users.
  5. The trading platforms are not exceptional.
  6. Trading prices are higher than average, but getting an advanced account can lower them dramatically.

Fraud Accusations – Is 24Option a Scam?

Unclear Regulations – How Users Lost Money

In the past, the company used to incentivize its users by offering them the so-called “24Option Bonus”. This means that clients practically got free money for trading, which would later incur commission fees.

Here’s the catch: users who accepted the bonus had to meet certain requirements in order to access the money they earned afterward. They had to upload personal documents to prove their identity and meet the wagering requirements.

The users who accepted the bonus and didn’t meet these requirements lost their earnings. Technically, this is not the company’s fault but this information is not in plain sight on their website or platform. Many users had no idea about these requirements because they weren’t properly warned by 24Option.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Top Binary Options Broker 2020!
    Perfect For Beginners and Middle-Leveled Traders!
    Free Education How To Trade!
    Free Demo Account!
    Big Sign-up Bonus!

  • Binomo
    Binomo

    Good Choice For Experienced Traders!

All the requirements and legalities concerning the current bonus scheme are thoroughly explained in the Trading Bonus Scheme on their site’s legal section. However, this is a legal document that uses complicated language, and clients shouldn’t be expected to go through all the details just to find an essential piece of information.

Fortunately, many clients got help from the customer service representatives, and eventually got their money back. Users also lost money simply through trading binary options, which are extremely risky if you don’t know exactly what you are doing. Even though 24Option may not be a scam, the company failed to make this crucial information apparent to users, who were left damaged by their relationship with 24Option.

The world of binary options has seen many instances of fraud and thievery, like the scandal involving the aforementioned Banc de Binary. Therefore, it is not unwise to tread carefully when looking for a good online forex broker.

Accounts and Pricing

Four Account Types

24Option offers users four different account types with account minimums ranging from $250 in the low end to $50,000 in the high end. The general offer and fees are better for higher-tier account types. Therefore, some are more suited for high-volume trading, while others are good for getting your feet wet in the forex market.

Basic

The best choice for new traders, as well a s those who want to try out 24Option is probably the Basic account. The minimum required balance is $250 and you get access to some educational materials.

Basic users get one free lesson but they do not have access to webinars. Basic account users also get a very good demo account with $100,000 to try the platform out (demo accounts are available with all account types). This account type also includes daily news and one free withdrawal.

The price of trading is better with the Gold account than with the Basic. Users also get two basic lessons and one monthly webinar. The minimum deposit is $5,000, and users can make one free monthly withdrawal.

Platinum

The Platinum option requires a $10,000 deposit and offers all the same perks as the previous account types, with slight improvements. The pricing is better, and users get three advanced lessons and two monthly webinars. Clients can also make three free monthly withdrawals from their Platinum accounts.

The best and most expensive option is the VIP account, which requires a $50,000 deposit. The VIP account has the best pricing by far and offers five advanced lessons as well as five monthly webinars. Users can withdraw unlimited amounts from their VIP account without fees.

The more you deposit, the more you get. More expensive accounts offer better prices and more valuable educational resources. All account types give users access to daily news as well as Trading Central – a great tool for advanced market analysis.

Accounts Basic Gold Platinum VIP
Minimum Balance $250 $5,000 $10,000 $50,000
EUR/USD 2.5 PIPS 2 PIPS 1.6 PIPS 1.1 PIPS
GBP/USD 2.8 PIPS 2.5 PIPS 1.9 PIPS 1.4 PIPS
USD/JPY 2.8 PIPS 2.5 PIPS 1.9 PIPS 1.4 PIPS
Crude Oil $0.13 $0.12 $0.11 $0.09

What 24Option is Great At

Education

24Option has a well-rounded offer of high-quality educational resources. Their website has articles on topics like daily market analysis and technical analysis, which can be viewed for free. You can find everything you want to know about their trading platform from the website.

There are free webinars as well as those you can only get as a member of 24Option. Members also get access to some excellent video lessons. These lessons explain both basic and advanced concepts like basics of CFD trading, calculating pips, managing risk, different kinds of analyses, etc.

There is also content focused solely on forex trading for beginners, that includes a glossary. All in all, 24Option has outstanding educational resources, valuable for newbies, as well as intermediate traders.

Customer Service

Users, as well as potential users, can reach 24Option via phone, email, and live chat. The company’s customer service seems to be very responsive and ready to help, however, they are not available during the weekends.

The customer support representatives can be reached 24 hours a day from Monday through Friday, but the live chat only works during work hours. In general, the customer service is competent and very ready to help users.

When I tried the live chat, a representative responded in about 30 seconds and answered my questions immediately. The speed and competence of the customer service representatives is truly praiseworthy.

However, the live chat doesn’t seem to work on Mozilla but it works on Chrome.

Range of offerings

24Options has changed a lot in the past couple of years, as they stopped offering binary options, which were once their focus. Now, the company offers a broad spectrum of cryptocurrency pairs like BTC/GBP, BTC/EUR, BTC/USD, etc.

However, there are not as many available currency pairs as you might find with other forex brokers, and other products like oil and gold have the average price. Whether it’s commodities, currencies or spreads, 24Option keeps up with the competition.

Where 24Options Can Improve

Average Trading Platform

The company offers two desktop platforms as well as a mobile one. The available research tools are good but not extraordinary. The same goes for all aspects of 24Option’s trading platform.

Desktop Platform

24Options has a good, intuitive platform. Users can place trades and make watchlists with ease. The platform has great charting tools and its interface is very customizable. Users can also see the positions of other traders.

By seeing the positions of their fellow traders, users can predict the general tendency of the market at the given moment, and place prudent conditional orders. The company also offers users the MetaTrader 4 software, which is very common in the industry, although, the company’s desktop platform seems to be better.

Mobile Platform

The mobile app is good enough but it doesn’t stand out among the competition. The software is optimized for Android and iOS, the latter of which has fingerprint authentication. The mobile version has just about the same functionality as its desktop counterpart.

Many of the features like charting and streaming quotes are very accessible, and adding data like moving averages to your charts is simple and quick. Users can maintain a good level of control over their positions on the mobile app.

There is no daily news on the mobile app, and it’s also lacking in alerts compared to other mobile platforms. All in all, it is a good, user-friendly app with some very good features, but it pales in comparison with the top-tier trading apps.

Prices are Higher Than Average

24Option doesn’t have the lowest fees. Actually, they are higher than average. Getting a premium account can dramatically decrease the cost of trading in higher volumes, but aside from that, there are no discounts for high-volume trading. The fees for inactive accounts are also pretty high.

If an account is inactive for six months, it can be charged up to $200 per month. Account maintenance costs $10 a month, and the withdrawal fee is 3.5%. However, users get a number of free withdrawals each month, depending on what account type they have. The VIP account has an unlimited number of free withdrawals.

Even though you can find better prices on other platforms, 24Option has no financing or commission fees. The minimum required deposit for the Basic account is $250, which is quite reasonable.

PROS CONS
Great educational resources. The prices are higher than average.
Multiple account types. The company is regulated in Cyprus.
A wide range of investment products. No high-volume discounts for basic accounts.
Reliable customer service. Average trading platform and research tools.

Conclusion – Who is 24Option Best For?

As far as pricing is concerned, you can find superior offers among the best forex brokers in the industry. The lack of transparency is also a bit concerning, even though there haven’t been any major problems regarding the trustworthiness of 24Option.

Since 24Option has a relatively low minimum deposit for their Basic account and fantastic educational resources, it is a great platform for learning to trade. The customer support is reliable and the demo accounts are top-notch.

About Author

Tim Fries Tim Fries is the cofounder of The Tokenist. He has a B. Sc. in Mechanical Engineering from the University of Michigan, and an MBA from the University of Chicago Booth School of Business. Tim is also the co-founder of Protective Technologies Capital ( protechcap . com ).

Best Binary Options Signals Review: Is it Scam?

Best Binary Options Signals Review: Is it Scam?

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Last Updated: Sep 1, 2020 @ 11:44 am

Well, when folks bump into this binary options service hosted on this domain, Best-binary-options-signals.com, the first question which they ask is whether it’s a legitimate signal provider or not.

We will answer that question in this review as we analyze the various aspects of this service. But first, it’s important to know that this signal provider is offering free signals and at the same time offering a premium plan which is to be paid for at the end of every 30 days.

Their free signal service is basically meant to lure in traders to subscribe to their paid signal service which the website says has more value than the free service.

So, is Best Binary Options Signals worth signing up for? Can you increase your efficiency in trading Binary options by simply following and implementing their signals.?

Best Binary Options Signals Review

Now that it is quite obvious that Best Binary Options Signals is a signal provider, we should go into details right away to let you know how it is like to use their signal service.

Let’s start with the free signal service. It’s meant for people who want to try out their service for free. But you generally have to wait longer in order for signals to show up. Besides, the website claims that free signals are not as accurate as paid ones.

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So, is there a possibility that the free signals are randomly generated while paid ones are carefully selected by expert market analysts? We are being tempted to think that Best Binary Options Signals is basically displaying random signals on their site, and it works in mysterious ways. Here’s how it often goes:

A traders comes to the website and tries to follow at least 5 signals. If the signals win most trades by chance, this trader will be prompted to sign up for the premium signals plan which costs £55 per month.

When they sign up for the premium signals service, they will be getting into a contract that is renewed on a monthly basis. If the trader forgets or fails to cancel their membership (in the event that they want to opt out), a month’s fee will be charged for that particular month anyway.

Generally, the free plan is a time waster because it keeps you waiting for a long time before new signals can show up. We believe that this can be a hectic way of trading Binary Options especially if you’re used to automated trading robots that save you from unnecessary screen time.

What is the average win rate and is it consistent?

The website is very open with their average win rate. They say that their win rate is 63.04%. In November 9th 2020 for instance, they said that they sent out 138 forecasts and that out of these, 81 signals made money while the rest, 51 lost money.

This win rate is not the best you can have in the industry right now. With cutting edge trading robots on sale today, there is no way you should find this service desirable because that win rate is just above the break even mark.

If it was consistent, it would take you a long time to make a significant amount of money. In addition to this, you cannot put what you cannot afford to lose at stake. If you did this, you’d be raising your risk profile for huge, quick profits. That would backfire on your account because we are talking of signals that hit the green, 63% of the time.

Generally, we would not advice readers to sign up with Best Binary Options Signals because of the low win rate.

How many signals can you receive per day?

Their free signals service is a little bit restrictive. There are only 5 trade-able assets to work with. But on the other hand, their paid service issues signals across a broad spectrum of assets. This can be up to 15 different trading assets.

This should not be a problem for you if you’re not into fast paced trading which often leads to over-trading and ultimately account blow.

But if you’re the kind of person who is always looking to jump into the next trade, you might find the free plan quite restrictive because one has to wait for a count down timer for a signal to come along. To remove this count down timer, Best Binary Options Signals is asking traders to upgrade to their premium plan which will then unlock over 100 plus signals per day.

What we think about Best Binary Options Signals website in general

When you go through this website, the first thing you will see are signals waiting to show up or signals that have already been traded.

In other words, this website also shows us history of their signals. However, there is no performance record to show how their past signals performed.

We are not sure if Best Binary Options Signals is trading these signals or just sending them to users after analyzing the market. We do believe that professional market analysts are traders themselves. This means that before they can even think of sending the signals, they should be thinking of entering a trade based on a specific entry point which have figured out on the chart.

One might think that we are asking too much when we say that Best Binary Options Signals does not have trade history.

We are not. If these people are real expert traders, they should keep a clean record of whatever they have been doing for the past one month or so.

Nevertheless, we can also see that this question is being camouflaged by the fact that they are offering free signals for your testing. That means you should test their free service on a demo account and if you’re pleased, you can upgrade. The question is, what is so difficult about providing daily trade records that can be verified? Isn’t this the ultimate test of transparency that every signal provider should embrace in order to convince traders that their signals work?

Before we forget, Best Binary Options Signals is also offering a trial plan for £15. This expires after 2 days and is non-refundable in case you fail to take advantage of the signals.

Best Binary Options Signals states in their fine print that if you subscribe on a weekend for the trial plan, this will not be counted, and yet money shall be deducted with no refund later on. We feel that this is a little bit unprofessional.

Best Binary Options Signals confesses that their signals are meant for illustrative purposes only

If you read the fine print at the footer of the site, you will see a notice saying that information on this site is meant for education purposes only. Again, this service needs you to have some knowledge on how to trade Binary options. If you have never traded before or are not proficient in analyzing charts, it is not for you.

In other words, Best Binary Options Signals is just looking to provide clues on how entry and exits which will cost you £55.

Our best advice for you

If you already know how to trade, we don’t see the need to sign up because you know where to enter and exit your trades when the right patterns form. If you don’t know how to trade, then we suggest that you pick a trading software/signal service here.

24option Review

Introduction

Founded in 2008 the multi-award-winning binary options trading site from 24option is not only intuitive and easy to use but also geared towards both new traders as well as trading professionals. With 24/7 dealing provided on the reputable Tech Financials trading platform they are one of just a handful of highly respected and trusted brokers that put usability and accessibility at the forefront of what they do.

This ease of access and their mobile-friendly platform makes the trading process accessible and straightforward. Operating across a growing list of countries in 22 languages the site lets you choose the language and currency you wish to trade in. Education is a priority with 24option, and their range of educational aides caters for everyone from the first time trader to the experienced and successful.

With customer support a priority at 24option there are many support options available from picking up the phone to a dedicated customer support advisor to starting an online chat on the move, their dedicated team are on hand to help with any questions or issues.

In this review, you will learn:

    What we think about their company practices The unique benefits and features of 24option Differences between the various accounts

Risk Warning: The products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never risk money that you cannot afford to lose.

Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain from referring new customers.

Account Types

You don’t have to choose a plan to get started with 24option. They state on their website that you can open an account and begin trading immediately. If you do want to start a plan, there are five on offer, plus an additional, somewhat discreet 24option demo account available on request. Highlights of these account options are below.

Basic Account

The Basic Account requires an initial deposit of $250, and the minimum trade is $24. Successful trades attract profits of up to 82%, but benefits are limited to the standard 24-hour customer service access and a professional chart.

Silver Account

The minimum amount needed to open a Silver Account is $2,000 although this account commands the same profits as the Basic Account. A Silver Account does, however, unlock a few more of 24option features including access to a personal coach and trading alerts.

Gold Account

The most popular account with traders, a 24option Gold Account sees the profits rise to up to 84% and the addition of more features which include SMS & e-mail alerts. There is also the opportunity to live trade with an expert. An initial deposit amount of $25,000 is required and a minimum trade of $48.

Platinum Account

If you are looking for more benefits and support and a higher profit, a Platinum Account will see a return of up to 86% on a successful trade alongside even more expertise to help you trade successfully. A minimum initial deposit of $50,000 is required, and the minimum trade amount is $120.

Diamond Account

With a minimum trade amount of $480 and the maximum trading return of up to 88%, the Diamond Account is the most rewarding of all plans at 24option. A higher exposure and higher trading limits make this the account to be enjoyed with the more professional traders. They even offer Diamond Account holders FREE Juventus tickets due to their affiliation and sponsorship of the club.

Trade Types And Payouts

With a maximum payout of up to 88% available to those with a Diamond account (82% for the lower end of the account scale) the trade types available are High/Low Options, One-Touch Options and Boundary Options, here are more details:

High/Low Trades

One of the more popular types of binary options High/Low Options are also known as call/put options. All the trader needs to do is call whether that asset price will increase or decrease below the current level in a set amount of time.

One Touch Trades

One-Touch Options are a simple way to trade and don’t take much time or effort. All the trader needs to do with a One Touch option is to choose whether the market will reach a target price within a designated amount of time.

Boundary Trades

Boundary Options involves a simple prediction. The trader needs merely to predict “In” or “Out” which means whether you believe the market price will close within or outside the upper and lower costs by the expiry time.

24option’s mission is to make sure that their traders enjoy their experience.

Bonuses And Promotions

As well as offering periodic bonuses from time to time 24option have both technology bonuses and cash bonuses that are pretty much standard and provided consistently.

Technology Bonus 1. To qualify for an iPad, the account holder must deposit a minimum of $10,000 and reach a minimum trading volume of $50,000. Technology Bonus 2 is a MacBook and with a deposit of $20,000 needed and a min trading volume of $100k.

For those who don’t have that kind of money to trade with there is a $24 bonus for anyone who downloads the 24option mobile app and registers for an account.

Upon registration, cash bonus offers are made on a case by case basis, usually associated with the amount of cash deposited by the trader.

Mobile Trading

Trading is made easy with a 24option mobile optimised website and the mobile app which is available for both IOS (iPhone and iPad) and Android. In this fast-paced technological environment, users need something that is intuitive, simple, quick and easy to use and that allows for instant order execution with real-time data.

While the website offers everything the trader needs to know along with FAQ’s, the mobile app has more limited functionality however customer support is still paramount and user reviews state the app to be an easy to use platform with useful information and great support.

The trading app is available for a range of devices including iPhone, iPod Touch and iPad Air. As well as its ease of use the app is also available in 22 different languages allowing the user to switch to their native tongue. As well as English you can trade in Arabic and even simplified Chinese.

Deposits And Withdrawals

The minimum deposit with a 24option account is $250, and after making the deposit, trading can begin immediately. Deposits can be made via wire transfer although if using this method the minimum deposit amount is $1,000. Other methods accepted include credit and debit cards, Skrill, Mister Cash and many other online payment systems.

Before you can withdraw funds from a 24option account, you must ensure that all documentation and verification is up to date. The verification process requires photo ID such as passport or driver’s license, proof of residence (you must be resident in a country accepted by 24option ) and a verified payment method. To use a credit card, for example, you must send a picture of both sides of the card although you are asked only to display the last four digits. Withdrawals can be made to credit cards, wire transfer or other selected online payment systems.

Once your account is verified the withdrawal process is straight forward and requires the users to fill in the amount to be withdrawn. 24option aim to process all withdrawal requests within three days. There are some light complaints regarding withdrawal problems, but we believe these are mostly down to lack of ID and account verification.

There is a fee for making a withdrawal unless you are a Platinum or Diamond Account holder. The fees range from 2% – 3.5% depending on the method or a fixed fee of $30 for a wire transfer. Banks may make additional charges.

Special Features

As 24option values every trader and wants them to enjoy the success, they offer a FREE demo account giving entry-level traders the chance to familiarise themselves with the platform, experience a real experience and teaches them the necessary skills to continue.

Educating their traders is also crucial to 24option which is why you will find webinars for all traders regardless of experience and knowledge. Just visit their website and watch a basic, intermediate or advanced webinar. Other webinars are available, with dates published on their calendar.

Customer Support

Customer support is easily accessible, and in the first instant you can complete and submit a simple form with your questions, comments or concerns. Support is also available by e-mail, telephone or by starting a live chat with a customer service specialist on the site whether on a desktop or mobile device. Support contact is available 24 hours a day, seven days a week from many countries across the world and as usual, in multiple languages.

Here are the contact details for 24option:

Conclusion

Let’s finish up our 24option review here. 24option’s mission is to make sure that those traders that use their site enjoy the experience, experience success and stay! To achieve this, they provide plenty of education and support to all of their traders regardless of experience. They seem to value their traders and demonstrate this through their various educational tools and information. From our investigative research and test, we found no reason to believe they are a scam operation.

As an exceptionally well trusted and secure platform to trade on 24option is a popular choice with many traders from beginners to professional Diamond traders. They’re easy to use platform, mobile trading options and customer support make them an ideal choice for traders and makes them a serious contender in the binary options trading market.

Risk Warning: The products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never risk money that you cannot afford to lose.

Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain from referring new customers.

Frequently Asked Questions

Is 24option legit, will they scam me?

24option has one of the most reputable names in the business and are a trustworthy and reliable broker. We carry out individual checks to ensure that we are happy.

Do they have a decent mobile or tablet app?

Technologically they have a good platform which ranges from the desktop website to their responsive mobile site. 24option also have an app and actively encourage traders to download the app by offering a $24 bonus.

What bonus do they offer new traders?

24option provides a welcome bonus of 100%. For a trader that reaches $10,000 in deposits and $50,000 in trades there is the reward of an iPad, if they double this, they will be rewarded with a Mac Book.

Can I start trading on a free demo account?

Like many of the top brokers, 24option offer a demo account to encourage their traders to get used to the platform. Just deposit your $250 deposit, then request a free demo account.

What’s the minimum deposit and trade amount?

The minimum deposit for a 24option account is $250 unless you are depositing funds via wire transfer, then the minimum deposit required is $1,000. Their minimum trade is $24.

Robert has consulted for our website for five years and is a well-established member of the team. While he is passionate about the site, most of Robert’s time is focused on his current position as CEO of a professional coaching company.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Top Binary Options Broker 2020!
    Perfect For Beginners and Middle-Leveled Traders!
    Free Education How To Trade!
    Free Demo Account!
    Big Sign-up Bonus!

  • Binomo
    Binomo

    Good Choice For Experienced Traders!

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