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24Option Review

The trader sentiment bar is also used to aid trader decisions. The first thing that we do is analyze and review any broker, regardless of whether they are new to the market or one of the more established players. They offer fair trades and historically a legitimate binary broker. The two biggest problems we see traders have with 24option are: This can be especially challenging when you are trading in the 60 second options.

As 24option no longer offers Binary Options trading, and in an attempt to make this change as easy and seamless as possible for you,your previous binary balance has now been updated in your new Forex/CFD trading account.

Trading Platform

Based in Cyprus, the company complies with all the requirements of CySEC , enabling them to offer investment and ancillary services to clients based in the European Union. Welcome to this 24Option review, where we hope to provide you with all the relevant details to enable you to pick the best binary options broker for your personal trading needs. Whether you want to trade in stocks, commodities, indices, or currencies, there are over to choose from, along with 4 different trading modes, each with its own subcategories.

All of which serves to increase trading possibilities dramatically. Once a trade option has been chosen a trading window opens from which you get to choose the most convenient way to buy. All of which helps investors in making swift and informed decisions. Wherever you might be located, and however you choose to trade, you can be certain of an excellent service from the support team at 24Option.

As well as the website being available in a number of languages, support is also available in 13 languages other than English. There are dedicated phone lines from various global locations, alongside a live chat option and email contact form. Choosing 24Option as your binary options broker will also give you access to a wealth of educational material. For both beginners and more advanced investors alike. There are videos, webinars, and an eBook available that should cover most fronts. And the good news is that this section of the site is regularly updated and improved.

The range of underlying indices available at 24Option is not as good as the other types of underlying asset, but there are still all the big names. Currencies are traded in pairs. You have to pick the currency that you think will perform better within the set timeframe out of the two. The currency pairs that 24Option offers include:. You should remember that research is the crucial part of every trading strategy whatever underlying asset you choose and whatever type of option you decide to trade.

Make sure you get to know the markets you trade in as much as you can. What is the Trading Platform Like? Analyzing the trading platform is a crucial part of determining the quality of a binary options broker.

The trading platform is essentially the user interface— the place where you gather information, monitor data, place trades , and manage your account. Trading platforms vary greatly from broker to broker, but you can put them all into two broad categories. The first is a custom built platform, and the second is a platform based on software created by well-known providers SpotOption is probably the best-known example.

There are advantages and disadvantages to both approaches. Creating a custom platform means the broker can optimize the platform for its customers , i.

A custom built platform also gives the broker more control over making it easy to use and ensuring every trader has all the information they need. Using a third party platform, on the other hand, is less costly to develop and less risky, as the software is already tried and tested. This is all important, as the trading platform offered to customers can make or break a binary options broker.

In other words, the trading platform is more important than special offers, or other marketing tools. This above is just an overview of the platform with a focus on the design and technical aspects of 24Option. Now it is time to get into it in more detail by looking at some of the features and options available.

After reading the next section, you will have a better understanding of what 24Option is capable of and what you can expect to achieve.

Options are a type of trade that you can make that will end in either a profit or loss. Generally, there are three main types: Specifically, it has four options you can choose from. Despite the name, they are the same thing. In other words, you predict whether the final price will be higher than the current price or lower than the current price.

The trade will have an expiration time, and you win or lose depending on whether your prediction is correct at that time. It is a low-risk form of trading, which means the pay outs are typically lower than other option types that are available. They are a more risky trade, as they are harder to accurately predict.

As a result, pay outs are typically much higher. In both variations of the trade, the broker sets a target price for the underlying asset and an expiration time. If you select the One-Touch option, you are predicting the underlying asset will reach the price set by the broker before the time expires.

As soon as this price is achieved by the underlying asset, the trade ends and you get the profits. If the underlying asset does not reach the predicted price by the time the trade expires, you lose the money. If you select a No-Touch option , you are predicting that the price of the underlying asset will not reach the set price. If it does reach the set price, the trade ends and you lose. This is a risky and, therefore, potentially more lucrative trade because you are making a more difficult prediction.

For example, it is easier to predict if a trade is going to go higher or lower than its current value over the next five hours. It is much harder to predict that it will reach a specific value in that time period.

This is because you have to predict both the movement of the price and how much it will move by. In a Boundary options trade, an underlying asset will be given a boundary price by the broker. This is a price range that includes both an upper and a lower value.

This is why there is less risk than touch options, i. Because of the nature of Forex markets, most experienced traders do not place Boundary options trades on Forex pairs.

This is one of the newest types of options in the binary options industry, and it is available on 24Option. It is a high-thrill, high stakes, high pay out type of option that expires 60 seconds after you open it.

A number of variations are available. You can win big, but it is not a method of trading for the risk averse. Expiration times can make the difference between a successful and an unsuccessful trade.

In fact, every second counts. Just one second is all it takes to turn a profit into a loss or a loss into a profit. There are no strict rules that determine whether the expiration times offered by a broker are good or not. However, all good platforms offer a wide variety to choose from.

This is exactly what you get with 24 Option. The expiration times it offers include: Short term expiration times allow you to make multiple trades in a short period of time. They work particularly well with trades on the underlying stocks of major companies and on currency pairs. Therefore, you should consider the type of underlying asset you are trading on before opting for a short term option. You expect average levels of profit, although the risk is normally on the high side.

There are two long term expiration times available at 24Option. They are five hours and a variable length end-of-day expiration time. This is more limited than some other platforms, which also offer longer expiration times ; but those timeframes are rarely used by traders. Binary options traders typically prefer shorter terms and like the trading day to close without any open positions. Therefore, the offering from 24Option is sufficient.

Demo accounts are available for new traders at 24Option. This account lets you learn how to use the trading platform and get to know the features and options of the dashboard.

It is not a stripped-down version, so everything you see in the demo account is exactly the same as the real account you will get when you start trading for real. In the demo account, you can trade; but, as hinted in the last paragraph, they are not real trades. This also lets you try some trading strategies so you have a plan whenever you start putting your own money on the line.

In other words, using a 24Option demo account is a completely risk free way of deciding whether you like the platform. It also lets you find out if it has all the tools you need, and it lets you test trading strategies. This is because the virtual funds are not replenished, so once it hits zero, you will not be able to make any further virtual trades. It is sometimes tempting to jump right in with real money, but it is always better to test the binary option system , get comfortable with the platform, and then make an informed buying decision.

If you decide after using the demo that you are happy, you can simply deposit money into your account and begin trading for real cash. If you are not happy, you never have to log in to the account again. Binary options are traded by people from all backgrounds. The only rule is you have to be over After that, all you need is Internet access, a willingness to learn and a tolerance for risk.

This gives the hundreds of thousands of Muslims interested in binary options trading the opportunity to get an account and trade with the peace of mind that they are doing it on a platform and with an account that complies with Sharia Law.

It is free to set up and own an Islamic account at 24Option, just as it is free to have a standard account. Nothing about the account could be described as usury. This means there are no hidden charges or rollovers.

Commission and interest are not charged either. In addition, Islamic accounts are available in Arabic to cater to Muslims who speak it as their first — or only — language.

A range of account types to suit different needs

For any binary options trading queries, 24Option has live chat, email and telephone numbers. This is in order to provide excellent customer service in a prompt and professional manner, anywhere in the world. During 24Option amended their offering. They no longer offer binary options, and concentrate solely on Forex and CFD trading. 24option have moved away from platform provider TechFinancials, and developed a new bespoke platform/5. 24option’s resources will not teach you ever that you need to learn to trade binary options successfully and profitably, but it is a great start on your education. Customer Service Customer service can be reached via telephone (numbers for different countries are available), email, fax, or live chat.