Is 24option a Scam?
Year founded: 2010
Languages: French, English, German, Spanish, Italian, Arabic, Japanese, Turkish, Russian
Minimum Trade Size: 24 USD/EUR/GBP
Maximum Trade Size: 50,000 USD/EUR/GBP
Minimum Deposit: 250 USD/EUR/GBP/JPY
Payouts (Max %): up to %89 and high yield option up to %400
Bonus: From 30% to 100%
Option Types: 60 Seconds and From 2 min to 30 days
Trading Currency: USD/EUR/GBP/JPY
Demo Account: Yes, after investment
Company Promotions:250 – 499 = 20%
500 – 999 = 30%
1000 – 2499 = 40%
2500 – 4999 = 50%
5000 + = 100%
Support: Live chat, phone, mail
find out if 24option is a scam
Since it was founded in 2010, 24option has built a solid reputation for being a trustworthy broker by providing an efficient customer support group and a sophisticated interface for their users. With its live data feeds backed up by a known financial news resource, a detailed terms and conditions page and a very comprehensive Education Center, there’s no doubt that 24option is a brand that you can trust. Here are the some of the most important parameters that we looked at in evaluating the reliability of this broker:
24option was previously owned by Cbay Financial Services Ltd before they merged with Rodeler Ltd in December 2013. Under Cbay, the 24option brand earned a license from the Cyprus Securities Exchange Commission (CySEC) but since the acquiring company is also authorized and regulated by the same body, 24option still continues to be a regulated brand under a new license no. 207/13. You can refer to this link for more information: http://www.cysec.gov.cy/licence_members_1_en.aspx
2. Customer service
The 24option customer support team can be reached via a live chat feature, email and a dozen local numbers for other countries. The live chat feature is very easy to use and our assessments have proven the reliability and honesty of their support team as seen on the screenshot below. The support agent was very straightforward in answering our questions regarding the bonuses and the terms and conditions that we should be aware of.
Email support proves to be very efficient as well and responses are very detailed just the same as the chat. A number of international lines are also supported which gives more assurance that they are a legitimate company.
3. Terms and conditions
The terms and conditions which can be found on 24option are very clear and the agreement is entered into by Rodeler Limited which has a registered address in Cyprus. We also find that the end user license agreement visibly states all the information that must be known to the trader. It clearly shows that there are no hidden agendas and no strings attached.
4. Quality of design/software
24option’s layout has been designed with such precision and style. The gold and black theme exudes extravagance and adds a very inviting feel. And since it’s a web-based platform, there’s no need to download any software which makes it safer to use on almost any type of computer. The trading process is very straightforward with the help of its user-friendly interface and layout.
5. Payout rates
24option offers profits of up to 89% which is higher than other brands and as promised, they give the correct payout rates as agreed and stated on every binary options contract that is purchased by their investors. Typical payouts are rated at 85% while high yield investment returns can go as high as 310%.
6. Withdrawal process
This broker is not very strict when it comes to withdrawals and in fact, there are no limits on the amount that you wish to cash out from your account. This is one of its biggest advantages over other brokers which impose limits on withdrawals. The average processing takes around 3 to 5 business days while VIP members get to enjoy an expedited 1 day handling time.
24option features a number of special benefits for various trading volumes ranging from 20 to 100%. Each of the bonuses clearly states the terms and conditions so there are no indications that any of these promotions offered are scams. The trading volume requirement is x30 which is considered to be the standard in the industry.
8. Brand reputation
When it comes to brand reputation, 24option has built a good standing in the binary options online community. Doing a simple research in Google will give you an above average of positive reviews and comments from this broker. In our reviews, we have found a lot of the good feedbacks on credible blogs and forums where most binary traders converge and get in touch online. Here are some of the good comments that we found from reliable forums:
9. Financial data
24option uses direct market data feeds and work with several international banks that provide them with real-time price quotes. This type of information that is coming from reliable financial institutions is very handy especially for traders who are very reliant on real-time data. A simple click on an asset at will show live information and useful charts which can greatly help in making more educated investment choices.
10. Trading tools
This broker features a number of tools that were created for traders of all types. The Education Center features a free e-course and various e-books that can further increase the knowledge of their users regardless of their skill levels. They even have an extensive affiliate network which makes it even an even more credible brand in the binary options trading industry.
With its live data feeds backed up by several international banks, a detailed terms and conditions page, a comprehensive Education Center and a license from the CySEC, there’s no doubt that 24option is not a scam. If you’re looking for a brand that you can trust then, this broker is the perfect choice.