24Option Review 2020

24option is a FOREX/CFD broker which lets users make FOREX and CFD trades online at 24option.com. The site lists hundreds of trade-able assets including currencies, stocks, commodities and indices. Android and iOS apps are also available which allow users to check account balances and make trades from their mobile phone.

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About 24Option

As one would expect from an international broker, the website and apps are available in a number of languages including English, French, Spanish, Russian and Arabic. The website is clear and well presented and includes a selection of training materials for investors. 24option accepts a variety of fund transfer methods and are fully regulated. Customer support is available by email, phone or live chat.

Trading with 24option
Transactions are made via the bespoke MT4 trading platform, which can be used online or downloaded. Users must register to use the platform, but accounts can be need not be funded. All accounts have no maintenance fees and offer access to educational webinars and a demo account for users to experiment and develop trading strategies risk-free. Funded accounts also have access to telephone support and one-one one training sessions. Funded accounts must be verified with ID and banking information, in compliance with regulations.

Deposits and withdrawals
Funds can be added and withdrawn via wire transfer or debit/credit card, and a range of online payment systems including Skrill and Neteller are also accepted. The minimum deposit amount is 100 EUR, and there is no minimum withdrawal amount to a debit or credit card, or a Skrill or Neteller account. Deposits and withdrawal requests can be made at any time, but withdrawals are only processed during business hours and will not occur until the required documentation has been completed by 24option and the receiving bank. Withdrawal fees apply, and vary by the chosen payment method.

Regulation and protection
24option is fully licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) and is also registered with the national regulatory bodies of many EU countries. The company is a member of the Investor Compensation Fund for the clients of Cyprus investment firms, which protects the accounts of individual investors (to a maximum of 20,000 EUR) should the firm fail to fulfil its duties.

The website has a wide selection of resources and education materials, from introductory guides for beginner investors to advanced trading strategy for experienced traders. Materials include video webinars and eBooks, and each account has a 10,000 EUR demo account to put lessons into practice.



CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84,94% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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