User Rating:Updated on: March 6, 2018
|Spreads From||Max. Leverage||Trade Min.||Forex Pairs||Platforms||Mobile Trading||Broker Highlights|
100+ Currency Pairs
Web-based & Mobile
CFDs carry risk. 84.94% of traders lose with this provider.
24Option.com Forex Broker Review
24Option.com is an internationally acclaimed Forex brokerage. As the sponsors of Italian football giant, Juventus FC, 24Option has won critical praise and garnered significant fanfare from football and Forex fans the world over. Clients get to access a full range of Forex trading options, including major pairs, minor pairs, and exotic currency pairs in addition to commodities, stocks, CFDs, and cryptocurrency. 24Option is fully licensed and authorized (license #207/13) to offer real money Forex trading activity to UK clients, courtesy of the Cyprus Securities and Exchange Commission, otherwise known as CySEC.
Additionally, the company which owns 24Option, Rodeler LTD has full permission to provide financial services across the European Union to member states. Clients from the following countries can fully access the trading platform at 24Option: the United Kingdom, Austria, Bulgaria, Croatia, Czech Republic, Denmark, Estonia, Finland, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Malta, Netherlands, Poland, and others. 24Option is available for PC, Mac, Android and iOS, with a powerful trading platform for a full range of Forex trading options.
*Be advised that clients from USA, CA, AUS, NZ, JP, BE, FR are not permitted to trade at 24Option.com.
Trading activity covers a broad spectrum of financial instruments, including currency pairs. Forex trading involves buying one currency and selling another. The difference between the buy/sell prices determines the profit. Leverage can be used to significantly increase the size of the trade at 24Option.
- Forex trading includes EUR/USD, GBP/USD, USD/JPY, USD/CHF, USD/CAD, AUD/USD, NZD/USD, EUR/GBP, EUR/CHF, EUR/JPY, AUD/CHF, AUD/CAD, AUD/JPY, AUD/NZD and others.
- Commodities trading includes cocoa, corn, wheat, coffee, soybean, palladium, crude oil, natural gas, gasoline, Brent crude oil, oranges, cotton, copper, platinum, sugar and others.
- Stocks trading includes hundreds of US and European options such ADIDAS, SAP, BASF, Harley, Lockheed, Tesco, Adobe, GazProm, Vinci, St Micro, Renault, L’Oreal, BNP Paribas, Vivendi, Total, LouisVuitton, Marks & Spencer, Barclays, Daimler, Verizon, Twitter, PNG, Microsoft, Man United, Intel, Alphabet, Goldman Sachs, Facebook, Disney, Coca-Cola, Chevron, Boeing, Bank of America, Amazon and American Express.
- Indices trading includes the NASDAQ composite index, US index, CAC 40, Nikkei 225, Hang Seng, Nifty, FTSE 100, DAX, S&P 500 index, Dow Jones Industrial Average, USO, EuroStoxx50 PR, and the Johannesburg Stock Exchange (JSE).
- Cryptocurrencies trading includes LTC USD, DSH USD, ETH USD, XRP USD, BTC USD, BTC GBP, ETH EUR, DSH GBP, LTC EUR, XRP EUR, BCH GBP, LTC GBP, and others. Cryptocurrencies like Bitcoin, Ethereum, Litecoin, Dash and others are cross-referenced against major global currency such as the GBP, USD, and EUR.
24Option offers cutting-edge trading platforms for real-time trading across a wide range of assets. This Forex broker uses the prestigious MetaTrader 4 platform, otherwise known as MT4 for trading activity, Proprietary platform, Web-based & Mobile platforms.
MetaTrader 4 is one of the most sophisticated Forex trading platforms, with full charting tools and resources, real-time trading results, and instant order execution. MT4 can easily be downloaded onto your device, and it is fully compatible with Google Chrome, Windows, Firefox, Internet Explorer, Safari, Android and iOS devices.
Fortunately, clients do not require any sophisticated computer programs or software to run 24Option’s platform. Flash Player is needed for site elements at this Forex brokerage. No download is required, as you can trade online at the click of a button. All browsers are supported including Internet Explorer 8.0, Chrome 4.0, Mozilla Firefox 3.6+. The 24Option trading platform can be accessed online, direct off your browser.
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There are 4 types of accounts available for Forex traders at 24Option. These include basic, silver, gold, and platinum. We will briefly review each of these account types to determine which ones are best suited to your needs:
- Basic Account – Basic accounts provide clients with a dedicated account manager, access to webinars and seminars, a brief intro to the financial markets, daily market briefs and a £100,000 demo trading account. When you start out as a new trader at 24Option, consider the basic account for your needs.
- Silver Account – Silver accounts ramp up the list of features and functions available to you. As a silver account holder, you get all the benefits of a basic account, including additional benefits such as risk-management explanations, technical analysis, fundamental analysis, sentimental analysis, and a one-on-one tutorial. You will also be able to learn about various trading strategies over the short, medium and long-term. With Silver accounts, you get to enjoy max lot trading, and zero maintenance fees.
- Gold Account – as a gold account holder, you have all the benefits of basic and silver account holders, including one-on-one training with a MetaTrader 4 course, trading central, and free withdrawals. Your trading activity will have to be significant to maintain gold status
- Platinum Account – platinum account holders have all the benefits of basic, silver, and gold account holders, with the added benefit of competitive spreads. This means, you get to make more profit by keeping the difference between the buy price and sell price to a bare minimum. Professional traders prefer platinum accounts.
Note that you can choose the account type that best suits your needs. The way to go about this is by contacting a 24Option account manager and discussing your trading preferences (bankroll, risk tolerance, asset selections, etc.).
Cryptocurrency trading, a.k.a. digital currency trading began with the Bitcoin boom in 2008/2009 and has subsequently grown to encompass some 1,500+ digital currencies across thousands of markets. At 24Option.com clients get to enjoy an in-depth discussion on cryptocurrency, and a wide range of popular cryptocurrency options such as Bitcoin, Ethereum, Litecoin, Dash, Ripple to trade against currencies like the US dollar, euro, and British pound. The benefit of trading cryptocurrencies at this brokerage is that you do so with contracts for difference (CFDs). No physical purchase of Bitcoin, Ethereum, Litecoin etc. is needed.
This online broker goes to great lengths to extol the virtues and vices of cryptocurrency trading. It is a highly volatile market with sharp rises and drops at any given time. Further, cryptocurrency is not regulated by any European framework, including Cyprus Securities Exchange Commission and the EU Directive on Markets in Financial Instruments. When you trade cryptocurrencies at 24Option, you get to enjoy leverage of 1:5 meaning that every £100 you put down can open a position worth £500. The markets is limited to 24/5 trading activity sessions.
Clients can contact 24Option support via live chat to find out what the latest bonuses, if applicable, or at the broker. The live chat support agents are highly responsive to your queries, but unfortunately there are no bonuses or promotions currently on offer. However, there are benefits to registering and trading at 24Option. These include full technical and fundamental analysis, a demo trading platform with £100,000 in faux funds, and highly responsive customer support agents and personal account managers to assist you every step of the way.
UK clients can contact support by clicking on the contact us page. Support representatives are available via email, live chat functionality, or telephone. The contact us form is a quick and easy way to enter your message, and send it through to professional and courteous support staff. The live chat function is perhaps the best way to get an immediate response from a live chat representative. It is powered by Zendesk and provides rapid responses to customer queries. The email address is email@example.com, and it’s a convenient way to send your queries, and attach screenshots, files or folders, and have them seem to buy professional representatives at the broker. Other contact options include social media functionality with G +, LinkedIn, and Twitter.
An entire section of 24Option is dedicated to education. This is perhaps the most useful resource for UK traders since it provides you with everything you need to know about market activity. You will find an economic calendar, trading central, and financial news headlines at your leisure. Various trading strategies, videos on demand, and webinars are also provided to fast-track your learning and understanding of the financial markets.
UK Forex traders at 24Option are focused on safety and security. This brokerage delivers in all departments. It uses sophisticated encryption technology and SSL protocols to safeguard your account information. Since it is fully licensed and regulated in many European jurisdictions, through multiple authorities, it has the credibility of financial services watchdogs around the world. It is fully licensed and regulated through the Cyprus Securities Exchange Commission, and has a passport to offer its services to all EU countries through the MIFID. It should be pointed out that the security of client funds is safeguarded through segregated accounts. There is also the Investor Compensation Fund which protects clients. Coverage is limited to €20,000 per client with the ICF.
- Demo trading account with £100,000 in faux trading money
- Segregated accounts, investor compensation fund, and licensing across multiple jurisdictions
- Wide range of currency pairs to trade from including minors, majors and exotic pairs
- Fully licensed and regulated by the Cyprus Securities Exchange Commission (CYSEC)
- Full passporting authority to offer services to EU member states except Belgium and Switzerland
- Leverage limited to 1:5 on Bitcoin
- No bonuses or promotional offers available
- No traders from Switzerland or Belgian permitted, or other unregulated jurisdictions
UK Forex traders have access to a wide range of options at this online broker. Customer support is prompt, professional and polite and highly knowledgeable about all aspects of trading. There are currently no bonuses or promotions running, and leverage has been lowered, in line with FCA and CySEC requirements. However, the quality of the trading platform on Mac, PC, Android and iOS devices is extraordinary. MT4 provides charting analysis, up-to-the-minute pricing, insights, and real-time trading updates.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84.94 % of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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