24option Account Types

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24option Account Types

24option Account Types

Established in Cyprus in 2020, this binary options broker quickly became distinguished in the industry thanks to some of its unique features, such as the user-friendly trading platform and an excellent customer support. But of course, every experienced trader knows that it’s best to set up a trading plan, or the so-called trading account type which is specifically optimized for trader’s goals. Regarding that, 24option account types are one of the most balanced in the industry, and virtually anyone can choose their ideal one. We will thoroughly analyze each of them, so stay with us and read on.

24option Account Types | Trading Platform

Before we thoroughly explain all the 24option account types, we’ll take a brief look at the trading platform this broker offers. As a combination of luxurious layout enhanced with the latest technological improvements, this trading platform offers user-friendly interface which makes trading fast and secure, as we have stated in our 24option Review 2020. Traders can choose between four main trading modes: Short Term, High/Low, Boundary and One Touch. Those are all well known modes in the world of binary options, but 24options adds a personal touch by gathering them all on a unique trading platform. It’s worth mentioning that, as a CySEC-regulated broker, 24option guarantees the security of trader’s funds and protects them with multiple firewalls, so that anyone can be safe and sound. Also, everyone is able to trade on the go via their great mobile app. It’s pretty obvious why 24option became one of the greatest brokers of today, but what about the 24option account types? We’ll get there shortly, so do continue reading.

24option Account Types | What Are The Options?

As we said before, 24option account types enable traders to get the most out of their deposited funds – they offer professional 24/7 customer support, professional charts and Trading Tools, one of the most powerful trading tools and analysis provider. In other words, the more knowledge, information and resources you have, the higher the chances are that you’ll make the right call when the time comes. Therefore, there are five different 24option account types: Basic, Silver, Gold, Platinum and Diamond. They are specifically tailored to meet their target group, so everyone can find their optimal package.

24option account types differ by the possibilities they offer – for example, more advanced accounts such as Platinum or Diamond give you the option to receive (via SMS and E-Mail) notifications about market events, a service called 24option Signals. You can also participate in 24Options webinars with a dedicated account manager, as well as expand your investment journey. It all depends on the potential user’s wishes and goals, so everyone should be able to pick their ideal one among 24option account types. And if there are any problems with choosing the right account type, a great customer support team is there for you at all times. Investors can lose all their capital by trading binary options.

24option Account Types | Conclusion

We’ve reached the end of our 24option account types review. It’s safe to say that, regardless of which account type you choose, you are instantly on the one-way road to expand your trading experience. So hesitate no more, open a free trading account at once and start your trading adventure with one of the best binary options brokers!

24Option Review

Owned by Rodeler LTD, 24Option began trading binary options in 2008, and later became a trading platform for CFD and forex. Although the main company is based in Cypress, they also have another company in Belize for international ​clients.

Their goal is to allow as many people to trade as possible. That’s why, in addition to the many trading options they have, 24Option also offers educational materials to help people understand how to trade CFD and forex.

Since its break from binary options trading, 24Option has become a unique broker, enabling both experienced and newer traders to participate. In this 24Option review, we’ll give you everything you need to know about this broker and help you decide if they’re right for you.

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​iOS and Android

​CFDs, Forex, Cryptocurrency, Stocks, and Commodities

​Credit Card, ​Bank Transfer, Neteller, Skrill, Qiwi, and Many More.

​USD, Japanese Yen, British Pound, Euro, or Ruble

​Countries Not Accepted:

​United States, Europe​, Canada, Australia, China, Israel, Switzerland, Japan, New Zealand, Bahamas, Pakistan, North Korea

Table of Contents

Trading Platform

Whether you are a novice or a professional trader, you will feel at home trading with 24Option. Where other interfaces have been clunky or unintuitive, 24Option stands out among the crowd. The ​platform ​interface has a wide range of choices to choose from, and it uses the latest technology to deliver the best services to its clients. The user-friendly platform makes it easy for users to invest wisely without missing any opportunities that arise within the ​markets.

MetaTrader 4

MetaTrader 4, shortened to MT4, is one of the most popular trading platforms that people prefer for CFD and forex. 24Option integrates advanced trading tools to the ​platform to ensure you get real-time results when spot trading. Though using the MT4 platform is complicated, especially for first-time users, 24Option simplifies things by using easy to understand analysis tools and other automation options. If you want to test it out, you’ll have to register with 24Option before you can download the software.

24Option Account Types

​24Option ​offers four trading accounts with a leverage of 1:500. You can choose from basic, gold, platinum, and VIP accounts. Luckily for beginners or those who want to test out this platform, the minimum deposit to open a​n account with 24Option is $250.

Basic account

The basic account requires a​n initial deposit of $250. ​The Basic account gives you floating spreads as low as 2.5 pips for EUR/USD, and 2.8 for GBP/USD and USD/JPY. You also get access to some educational resources, including one basic lesson, daily market report, trading central, and two daily TC SMS alerts. When it comes to webinars, this is the only tier that doesn’t offer any.

Gold Account

​The gold account requires an initial deposit of $5,000. Gold is a step up from Basic in that your floating spreads move to 2 pips for EUR/USD and 2.5 for GBP/USD and USD/JPY. You get access to the same educational resources, plus an additional basic lesson and a monthly webinar.

Platinum Account

​A platinum account requires a deposit of $10,000 or more. With this tier, you get EUR/USD at 1.6 pips and GBP/USD and USD/JPY at 1.9 pips. Platinum is where you really get into the education side of things, too. Instead of just the basics, you get three advanced lessons, two monthly webinars, four daily TC SMS alerts, and the same daily news and trading central access as you do with Basic and Gold accounts

VIP Account

​A VIP account requires an investment of $10,000. If you’re looking to get everything you can out of 24Option, VIP is the account type you want. You get five advanced lessons and five monthly webinars. Plus, you’ll get seven daily TC SMS alerts and no withdrawal fees, whereas, with the other three tiers, you only get a limited number of free ones.

Assets

​24Option ​offers over 1​30 different ​assets in 4 main categories including currency pairs, market indices, stocks, and commodities.

CFD trading

Since its introduction to the market, CFD (contract for difference) ​is one of the most popular trading assets in the world. One of the reasons for its popularity is the low capital requirements needed to be successful. It also gives traders the option of going short or long on assets, and since they are derivative products, traders choose CFDs to avoid stamp duty.

Within the CFDs trading options, the services include cryptocurrency trading, commodities, indices, and stocks. Trading in CFDs on 24Option allows you to predict the movement of the market and buy if you anticipate an increase or sell if you foresee a decline.

Forex trading

​​Forex, on the other hand, helps traders to profit as much as possible without making any major currency trading mistakes. The forex market is vast and comes with high liquidity, but you can start with a small investment to build a large portfolio over time. Trading forex with 24Option provides you with other opportunities such as risk management tools, a reliable 24/7 customer ​service team, and easy access to a forex education center.

24Option Mobile ​App

​Mobile trading with the 24Option forex broker is also another option for traders. The broker provides free ​ mobile apps for android and iOS users, making them available on the Google Play Store or Apple app store. Some ​mobile apps from other brokers have watered down apps when compared to the desktop platform, but that isn’t the case here. The mobile app, which has a simple interface, provides you with all the trading features from the site. The login process is both secure and fast, with straightforward details and bonus availabilities for mobile traders.

​Is 24Option Regulated?

​​24Option is a CYSeC (Cyprus Securities and Exchange Commission) regulated forex ​broker under CIF license no. 207.13. It operates on stringent regulatory obligations that safeguard their client funds deposited in segregated accounts. Besides CYSeC regulation, the forex brokerage company is also a member of the Investment Compensation Fund that entitles traders to claim up to 20,000 Euros. Other regulatory agencies that 24Option complies with are AMF, France, CONSOB, Italy, BaFin, Germany, CA, and UK.

24Option Deposits and Withdrawals

Deposit Methods:

Your method of deposit and withdrawal depends on your location. Different countries support different payment types.

24Option allows for a wide range of deposit and withdrawal methods, including credit cards (VISA, Mastercard, and Discover), electronic payments via Skrill, and bank ​transfer. Deposits and withdrawals are secure and safe, so you don’t have to worry about your funds.

There is a minimum deposit, but the amount depends on how you fund your account. With credit cards and electronic payments, the minimum deposit is $250, whereas, with a bank wire transfer, you need a minimum of $1,000. They also have a daily maximum of $10,000, and a monthly limit of $40,000.

​Withdrawal Policy:

The withdrawal options are not very different from the deposit choices at 24Option. On the same banking page of the company website, withdrawal options are available depending on ​your country. 24Option processes all the trader withdrawals depending on payment methods, which helps in minimizing money laundering. If the withdrawal amount made using a credit card is larger than the deposit amount, the trader gets the balance through a wire transfer.

Before completing a withdrawal request, 24Option requires you to provide documents to prove your identity. Verification documents include a driver’s license, the official state identification document, and a current passport. Besides any of these documents, you also need to show proof of your address through a bank statement, a utility bill, or a credit card statement. The minimum amount you can withdraw is $10, and the maximum is the amount you have in your ​24Option account account.

Even though you can withdraw your funds at any time, 24Option processes withdrawals only during the business hours. Withdrawal fees depend on the kind of account you are operating. For diamond and platinum account holders, the withdrawal fee is free, while those with gold, basic, and silver ​accounts pay their fees per the currency they are trading in and withdrawing. Wire transfer withdrawals attract more charges.

Here are the 24Option withdrawal fees:

  • Credit/Debit – 3.5%
  • Neteller – 3.5%
  • Perfect Money/Moneybookers (Skrill) – 2%
  • Wire transfers – $30, €30, £30, ₣30, ₽1800, R300

As with many other companies, traders occasionally complain of withdrawal delays. Many of the delays are due to the slow proofing of the identification procedures. The best way to avoid this is to send all your identification details before making the withdrawal request. By communicating the details early, you can minimize withdrawal complaints and ensure faster payment methods.

Supported Currencies

After registering with 24Option, the first option will be to choose the currency you prefer to use. Unlike many other ​brokers, 24Option gives you the opportunity of trading with various currencies for a single account. The most popular ​currencies are the US Dollar, the Japanese Yen, The Euro, British Pound, and the Ruble.

​24Option Demo Account

Before you start trading CFD or forex, you want to know what you’re getting into. Some online brokers offer demo accounts so you can trade with the equivalent of Monopoly money before you get serious about it.

24Option does, too. When you sign up with a Basic account, you get a demo ​along with it. This demo account comes with $100,000, so you can get a feel for the platform and how it works.

With a demo ​platform, there’s no risk to you, and you won’t lose your actual funds by trading before you see how the platform functions. You can observe forex and CFD trends and decide whether you’re ready to take it a step further with an upgraded account.

Max lots, max trade size, leverage, and margins

Irrespective of the type of ​account you hold with 24Option, the requirement is to adhere to the company’s margin call level of 125% and a top level of 20-100%. For forex pairs, the maximum size of trading is 10 or 30 lots. The relevant pages on the company’s website give you a complete list of the categories where different forex pairs fall. The maximum trade size for stocks is 10 lots with 10-default leverage. Indices have a maximum trade size of 3 lots with default leverages of 50.

Bonuses and Promos

Sign-up bonuses are one of the things that make 24Option stand out. Depending on the type of account you open, bonus amounts range from 30% to 100%. The company also provides promotion packages that include a holiday bonus or a deposit bonus, especially when the markets are volatile. Other bonuses include premium prizes that come as gifts such as a MacBook or an iPad.

The company offers traders a deposit bonus under their ​bonus scheme at the amount of 25% to 50% on the first deposit amounting to $500. You cannot withdraw your bonus until the amount in your ​24Option account is thirty times the initial investment amount.

A demo ​platform is also another perk that comes with opening an account with the broker. You do, however, need to deposit about $250 before you get to use the demo​. It helps to use this demo ​platform to learn trading strategies and see how the markets work in real-time.

You can choose to opt-out of the bonus incentives at any time you want.

Education

24Option has some of the best CFD and forex ​education resources available. Most of its resources come through the daily news offered at all account levels, as well as webinars and basic or advanced lessons.

The platform is unique in that it was intended to help people trade and invest smarter. These webinars and lessons allow traders to learn more about trading before—and while—they participate in CFD and forex trading. You can even use their advanced interactive ebook to learn more about trading and test your skills.

Their educational materials go beyond the basics, too. For Basic and Gold accounts, you can only access the basic lessons, but as you upgrade your account, you can utilize more advanced lessons. Plus, they have videos on their website for beginning and intermediate traders to watch and learn more about CFD and forex.

Special Features

One of the most attractive special features that 24Option provides its traders is a practical, economic calendar that they can reference. The calendar allows traders to track important events that can impact their trade decisions. The data is easily viewed by impact, date, currency, forecasts, and actual data.

Another unique feature that sets the broker apart is the simplicity of the platform. Through their famous black theme, 24Option makes it very easy for even those using the platform for the first time to find information and make a trade.

Traders also get the opportunity to study the market behavior using technical analysis tools such as market indicators, graphic tools, and special reports. The technical analysis helps the traders to predict the future trends of the asset they are trading. Alongside the technical analysis, the broker also provides an extensive fundamental analysis that allows traders to study the factors and events that influence the price of an asset.

Here is a short list of some of the other features that come with 24Option:

  • Buyback: You can “cancel or terminate” a trade up to 5 minutes before expiration. You won’t get all your money back, but you will minimize your losses
  • Demo Account: As stated earlier, this account is great for practicing different trading strategies but is only available after depositing $250
  • Financial News Headlines: Stay up to date on all the latest trends in the world

Customer Support

With 24Option, you not only get professional help, but you also get personal assistance. To allow you to access all the information and support you need, the broker provides several options that you can use to contact them. The options include ​via email, phone, ​live chat, or by filling out a form on the contact us page.

The contact us page displays a map showing the entire 24Option ​support regions across the world that the broker serves. A click on any of the pins takes you to the region’s website with all the information you need to know. The website of 24Option provides ​support in 15 languages. These include:

  • English
  • Spanish
  • Dutch
  • Danish
  • Italian
  • Turkish
  • Portuguese
  • Arabic
  • Russian
  • German
  • French
  • Swedish
  • Finnish
  • Japanese
  • Polish

​Is 24Option A Scam?

Whenever you’re dealing with trading and investing, you want to make sure you’re using a reputable company on a safe platform. 24Option’s practices suggest they are a reliable broker.

When they moved away from binary ​options, their goal was to maintain their standing and image as a reputable platform. Their practices and history suggest that they care about their traders’ and investors’ funds and keeping those funds protected.

24Option is also regulated by two different entities, showing that regardless of where you are trading from, they strive to keep ethical business practices in place. Your account and funding information is secure with 24Option.

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

    Best Binary Options Broker 2020!
    Perfect For Beginners!
    Free Demo Account!
    Free Trading Education!
    Get Your Sign-Up Bonus Now!

  • Binomo
    Binomo

    Good Choice For Experienced Traders! 2nd place in the ranking!

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