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24Option Reviews

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Category: UK Online Trading Websites
Website: https://www.24option.com



Editor's Review Costs & Features User Reviews
 

24Option Review


by No1Reviews.com. Last updated: 05 December 2016

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Editor's Review:

24option is a leading binary options specialist which offers award winning trading software. Their customer services team are available around the clock to help with any inquiries, and the site also offers a range of educational videos and webinars to help improve your trading decisions. They’ve recently joined forces with Juventus football club and offer big cash prize draws for new members. It’s important to remember that binary options are high risk trades which can result in losses.

 
  A leading binary options specialist.  


 

The first thing to know about 24Option.com is that it’s a binary options trading service. This means that you don’t get a great deal of variety when it comes to how you approach your trades; rather, you’re limited to binary trading. Not sure what that is? Well the website goes into some detail to describe binary options, and the slight variations available to you within that fence. We've some more details about binary options towards the bottom of this review.


User-friendly platform displaying a variety of useful trading information.
User-friendly platform displaying a variety of useful trading information.

The next important thing to think about is the trading platform provided by 24Option. This is a multi award-winning trading platform which works on a variety of desktop and mobile devices. This is handy because it means you won’t lose on deals just because you’re not near a computer. The platform can show you a really useful amount of information on a single screen, so you can contrast and compare data to make a more informed trading decision. 

 
  A multi award-winning trading platform.  


 

The website doesn’t say a great deal about its prices and fees, so we spoke to their customer services team. They were helpful and efficient with information, highlighting that the service is commission free, but you are charged when you withdraw capital. This cut depends on the method of withdrawal and also due to the kind of account you have. When you first sign up you’ll be given a basic account, but you can lower your charges by trading and upgrading your account over time. This means your profit cuts will be lessened, which is useful if you’re making a lot of money. 

Whilst some trading websites allow you to explore their software and services without a deposit, and some require just a small deposit (of, say £25), 24option.com asks for a minimum deposit of £250, which is significantly higher than we’ve seen on some sites. This might put a few people off, especially since you can’t get access to much of the site prior to making a deposit. What you can see, however, are instant updates on a select few trade prices, plus a useful glossary of binary options trading terms, which outline the differences between Call and Put options, strike price, target price, expiry time and payoff.


Check market changes in an instant.
Check market changes in an instant.

Binary Options

In short, binary options allow you to make or lose a set amount of money, depending on how well a market or item performs. For example, you might invest $500 into metals. If the price of metals rises above a pre-arranged price, you will earn a set amount of money (let’s say, $750) but if it falls then you can lose it all. It’s a bit like roulette, in so far as it’s an “all or nothing” approach to investment, and you know the amount you might lose or earn before getting involved.

Binary options allow you to trade on a range of markets, including Forex (or currencies) and commodities, indexes and more. The approach is simpler than on other sites, but if you want a greater degree of control and to be able to respond to (and take advantage of) fluctuations then this might not be the ideal system for you. Still, it’s an interesting way of trading, so it’s worth reading up on binary options if you’re not all that sure about them.

The trading platform is specially designed for binary options, so you can quickly view the relevant trading information in a variety of ways, including graphs. You can also filter results to suit your needs, making this an easy-use system.

Summary

If you’re looking to trade in binary options, 24Option.com is well worth a visit. However, this trading method isn’t for everyone. It deals on volatile markets and is a high risk venture. The website also requires a relatively high deposit to begin trading, and takes a cut from any withdrawal (excluding your first withdrawal). That said, its trading platform is user-friendly and has won numerous awards, so it’s clearly a decent system for binary options trades.

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