24Option – A Review of The Rebranded Forex Broker

(You invest on your own risk)

24Option is one of the most well-known names in the CFD-trading and forex industry, and they are also one of the most used brokers. In 2017, 24Option decided to rebrand themselves which means that they are currently only offering CFD and forex trading.

You’ve probably heard about 24Option before, especially if you are interested in MMA and more specifically the UFC because 24Option used to be the official sponsor for Conor McGregor.

Unfortunately, that collaboration ended abruptly when 24Option was accused of money laundering. However, since then 24Option has cleared their name and are now the official sponsor of the Italian football club Juventus.

Create an account at 24Option

Is 24Option a Legit Broker?

Yes, there is no doubt that 24Option is a legit broker that you can trust with your money and investments. We have worked in the business for many years and based on our experience we can guarantee you that 24Option is trustworthy. They also have a license from CySEC, which means that they operate under very strict guidelines.

That being said, they’ve had some problems with the law. In 2016, the French financial authority, AMF (Autorité des Marchés Financiers), accused 24Option of money laundering. The allegation was quite serious and directed directly against 24Option. However, don’t let this discourage you. 24Option has done everything they needed to clear their name, and they have been working closely with the AMF to solve the situation. AMF was also the only authority that raised allegations against them, meaning that no other regulating authority experienced the same issues. To make the situation even better, 24Option has decided to rebrand themselves completely and instead put a complete focus on the forex market.

Additionally, 24Option recently started a collaboration with the legendary Italian football club Juventus as the official main sponsor. And we are certain that an established sports club like Juventus would never be associated with an unserious business.

24Option’s licenses from CySEC and FCA coupled with their collaboration with influential companies should make you confident that 24Option is reliable. There is really no need to worry if your money and personal information is safe with them.

24Option’s Trading Platforms

In 2017, 24Option introduced forex and CFD trading to their selection of assets, and since then they have updated their platforms to support the new markets. This means that they are no longer providing their much appreciated Scipio platform that so many traders were used to. But it’s not as bad as it might sound because 24Option replaced Scipio with MetaTrader 4, one of the top platforms.

MetaTrader 4 is the world’s leading forex platform and one of the most stable platforms that has ever been developed. In fact, it came as no surprise that a leading broker like 24Option decided to collaborate with MT4. MetaTrader 4 serves a huge selection of satisfied customers from all over the world and if you haven’t heard about the platform before it’s about time you check it out.

The platform is extensive and requires downloading if you want to use all the features. There is also a web-based version of the platform called WebTrader. It doesn’t seem like 24Option has integrated WebTrader with their service yet, but it is just a question of time before that becomes available too.

Let us clarify: 24Option has stopped offering binary options to focus on forex trading instead. Hence, they have also updated their platform and are now working with MetaTrader 4. The decision to stop offering this type of trading was taken long before ESMA banned the market in Europe.

24Option Trading Accounts

What sets 24Option apart from many other leading brokers is that they have decided not to follow the regular model with one trading account, one premium account, and one demo account. Instead, they have developed several premium accounts for different budgets and turnovers.

Read more about the different accounts below.

Demo Account
24Option’s demo account is available to all traders regardless of what trading account you use. The demo account is unlimited and provides access to MetaTrader 4 and all its fantastic tools in a risk-free environment.

As per usual, the demo account is very useful for beginners and novice traders, but 24Option is very clear with the fact that it’s available to everyone. You see, traders at any level can benefit from a demo account, it doesn’t matter if your budget is $10 or $250,000.

The 24Option demo account is perfect for strategy development and practice since it offers risk-free trading under real market conditions.

Create an Demo Account
Trading Account
Basic is the name of 24Option’s traditional trading account and it can be opened by anyone without any budget or activity requirements. The account comes with a dedicated account manager, daily market summaries, and an introduction to the new MT4 platform.

Create an Trading Account
Premium Accounts
Silver is the first premium account and it is very similar to the basic account but with a few perks, the account also requires a deposit of $2,500. Some of the advantages of this account are trading tutorials and lower to no fees.

Gold is the name of the account that comes after the silver account. To open a gold account you need to deposit $25,000, and for that price you get access to a Senior Account Manager as well as personal training with the MetaTrader 4 platform.

Platinum is the second most advanced account and it requires a deposit of $100,000. In addition to all the above-mentioned perks, this account gives you access to a risk management class along with several courses in investment and advanced strategies.

Diamond is the most exclusive account that 24Option offers. The account requires a deposit of $250,000 to be activated and for that price, you get a lot of benefits. The Diamond account is similar to the Platinum account but you can expect invites to exclusive events and regular gifts from 24Option.

Create an Premium Account

24Option on Your Smartphone or Tablet

We have good news for everyone who prefers to trade on a mobile device. MetaTrader 4 comes in a very practical and stable mobile version for your smartphone and tablet. The only downside is that the features and tools are somewhat limited. However, that is how most trading apps work, and it’s nothing we can blame on 24Option or MetaTrader 4.

To gain access to the trading app and start using 24Option on your phone you can either visit the 24Option website or go straight to one of the app stores.

24Option’s Assets

24Option’s new selection of assets is really impressive, and it has steadily been growing since they switched from binary options to forex and CFD. According to 24Option’s website, they offer a little more than 100 assets, but after taking a closer look we got the feeling that the number is closer to 200.

  • Currencies are one of 24Option’s biggest focus groups, and you can expect to find all the leading currencies such as USD, EUR, JPY, CHF, CAD, and a few other big currencies. Unfortunately, they don’t offer any smaller currencies such as SEK, NOK, and TRY.
  • Commodities can be traded as CFDs with 24Option and you have 15 options to choose between, including coffee, soybeans, sugar, platinum, natural gas, and brent oil. We were expecting to see gold and a few other classic commodities but are assuming that they will be added soon.
  • Stocks can also be traded as CFDs and this is the biggest selection of assets that 24Option offers. In the list of available stocks, we found close to 100 of the biggest companies such as Facebook, GE, Disney, and Coca-Cola.
  • Indices is another available asset, and 24Option has about 20 of them with a focus on classic indices such as Dow Jones, S&P 500, NASDAQ, etc.

Trade cryptocurrencies with 24Option

24Option recently decided to add cryptocurrencies to their selection of assets and we couldn’t be more excited about it. 24Option are currently offering CFDs on Bitcoin, Ethereum, Litecoin, Ripple, and Dash, but they make it very clear that they are prepared to add more digital currencies when they see fit.

Since you trade the cryptocurrencies as CFD you never buy the actual currency but rather speculate on their price.

24Option License and Regulation

24Option is run by a company called Rodeler Limited with their main office in Cyprus and several smaller offices in the rest of Europe, mainly in England and Germany. Rodeler Ltd. has a license from and is regulated by Cyprus Securities and Exchange Commission (CySEC) with license number 207/13. This license gives them the right to offer their services in most of Europe (Belgium and Switzerland excluded).

Rodeler Ltd. also has a license from the Financial Conduct Authority (FCA) in England, and that license encompasses all traders from the UK.

24Option also has a subsidiary called 24Option International that offers trading services on a global scale. However, many countries are excluded from the list including the United States, Canada, and Japan.

24Option Payment Options

24Option offers an impressive amount of payment methods. A lot of the options are regional based and only available in certain countries, so we recommend that you check their website to get a better idea of what your possibilities are. The following methods are available to most traders:

  • Credit and debit cards (Mastercard, Visa, Maestro, and Discover)
  • Skrill – An online payment method
  • Neteller – Another online payment method
  • Bank transfer – The traditional way of depositing money to a trading account

Some of the local deposit methods that 24Option provides are Giropay (Germany), Postepay (Italy), Moneta (Italy), Sofort (Germany), etc.

24Option Customer Service

We have been in contact with 24Option’s customer service on several occasions and have been happy with the service they provided. The staff is knowledgeable and quick to respond to your questions.

24Option’s FAQ is somewhat limited and the answers are a bit vague, so for once we actually recommend that you contact the customer support instead of trying to find the answers yourself.

You can contact 24Option’s customer service via phone, live chat, or email. We have only used the live chat and phone options but would assume that the email option works just as well.