Since the first availability of online digital contracts, 24Option has been at the forefront of the industry. It is a well established and highly respected broker that offers a very good set of features for the binary options trader.
It offers a number of different options contracts on a range of the most popular underlying financial assets . These include Indices, currency pairs, stocks and commodities.
The company was founded by a number of experienced trading professionals. These have helped to shape the solution here and ensure that the company is able to understand the ongoing needs of its trading clients.
- Account Opening Deposit Requirement: $250
- Minimum Trade Size – $24
- Account Handling Currencies – USD, EUR, GBP. JPY
- Contracts Available – Call/Put, One Touch, Boundary, 60 Second
- Typical In The Money Returns – 89%
- US Traders – NO
- Website – www.24option.com
Review of 24Option
The web based trading platform from 24option is based upon the Techfinancials dealing solution. This is well respected and reliable trading platform with a wide range of top features built in for the trader, including many of the new contracts that are now demanded by traders. You will find the usual Call/ Put (higher/ lower options) plus One Touch, Boundary and 60 second contracts available for dealing.
Of particular note here are the Boundary options contracts. These are like Options trading ‘tunnel’ trades. You can specify the price of the market to finish inside or outside of the rang identified for a unique way in which to profit from financial price movements. The trader sets high and low barriers on a market. If neither is touched prior to the set expiry time then a payout is made on the contract.
In addition to the usual hourly contract expiry times it is also possible to place 15 minute expiry times across most contracts and on most of the available assets. These provide some additional flexibility to the trading process and offer the chance of making additional profit when a strong trend is identified. For traders looking to make even quicker returns, 60 second binary contracts are also offered.
Opening An Account
Three levels of trading account are offered with a minimum deposit of $250 required to open the entry level ‘Standard account.
The two higher level accounts (Gold and Platinum) require a higher first deposit. However they are worth considering as they offer additional profits on each contract that is placed. Holders of these account types will receive an additional 2-4% return for each ‘in the money contract’ that concludes in their account.
Accounts can be held in a wide range of major currencies including USD, EUR, GBP and JPY. As with most brokers, the account holding currency must be stipulated at the point of account opening.
Deposits can be made using a number of sources including Credit and Debit cards and bank wire transfer. Third party deposit options include CashU, Moneybookers, Liberty reserve, Western Union and UKash.
A dedicated mobile trading platform is provided for traders. This is optimized to work across the widest possible range of mobile devices.
Unlike many brokers offerings, this is not a dedicated app but a separate mobile optimized website. You simply navigate to the brokers main site from your device in order to access the mobile site.
From here you can access all account features that you will find on the core trading platform. This allows you to carry out all major account functions, including depositing and withdrawing funds and of course monitoring and opening new trading contracts on your account.
Summary Of Key Features
- Offers one of the highest payout levels available for ‘in the money contracts’
- Good selection of contracts to trade with a variety of expiry times and assets
- Big choice of funding options and good mobile trading support offered
Getting started with 24Option is a straightforward process and will give you access to one the oldest and most respected brokerage companies in the business. Of particular note, when trading with this broker you will be rewarded with some of the highest payouts in the industry. These can be further increased by opting for one of the higher level account types offered.
These reasons, together with the wide range of options contract types offered, high level of multilingual support and a solid mobile trading platform make this broker worthy of further investigation. It should certainly be on the top of your list when it comes to finding the best binary options broker to trade with.