24option.com broker works in the market since 2010. The company’s head office is located in Cyprus. Broker has received a license of CySEC regulator in Cyprus too. It is a very important aspect because regulation is one of the indicators of the company’s reliability and its working safety.
Many traders underestimate the work of this regulator, thinking that is does not worth trust. But in the reality thinking this way is wrong because CySEC, like any other regulator, complies with all-European principles of the financial market’s activity regulation and all-European directive MiFID.
In addition to the CySEC license, a broker also has a number of other European licenses, including FCA (Great Britain) and BaFIN (Germany). These two regulators are known for their strict approach to their supervisory responsibilities. For example, FCA has fined Forex brokers multiple times for the slightest faults in their relations with clients.
Company’s head office is located in Cyprus. For a communication with clients, contact telephone numbers, e-mail address, and online chat on their web-site are provided.
Broker is represented in many countries; today Russian residents have an opportunity to open an account and to start working with this serious company too. It is also possible for the reason that trading on the Internet can be conducted even though the broker that has no office in the territory of the Russian Federation.
Binary options broker 24 option really takes a leading position in the market. This is evidenced by the numerous awards that were received during the whole time of the company’s activity. In the previous 2013 year, the company was named the Best broker, according to the ForexMagnates magazine.
The main goal set by this company is to make the binary options trading more accessible for all categories of traders. For the whole time, a broker tries to make everything perfect using all the advanced technologies and creating new tools that allow traders to improve their trading indexes substantially.
We can tell about the trading platform of the 24 option broker many and for a long time. It is the first and the only one binary options broker that has offered a trading platform with the advanced functionality.
Not only the convenience and the intuitive functions are combined in this trading platform. On this trading platform you can trade quickly and truly enjoy trading. The first thing you notice is the coloring made in two tones: black and golden. Such an original solution is pretty to look at and does not annoy a trader.
The trading platform is absolutely safe and all of the trader’s deals are effectively secured. In addition, to make the trading process easy and effective to the maximum degree, trader has an opportunity to watch videos or to communicate with the support service straightly from the trading platform.
At the first sight and from the functional point of view, this online platform is no different from those that are offered by the competitors. But it is not true. Binary options brokers 24 option offers innovative and even revolutionary product for this type of contracts.
On the provided screenshot you can see an absolutely unique chart that none of any other competitors currently have. The trading platform with the advanced functions offers a trader more than using different types of charts, including well-known Japanese candlesticks and not the less known and popular bars.
An outstanding feature of the trading platform with the advanced functions is a possibility to scale the chart and to save the history of quotes for almost a month; it is excellently suitable for the solution of both short-term and mid-term tasks. There are four types of the scales in the platform: 1 minute, 5 minutes, 30 minutes and 1 hour.
Among the tools available in the trading platform with the advanced functions, it is possible to mark a present ability to show lines, channels, arrows, forks, regression channels, zigzags and cycle lines. All of these will be very useful for a trader in the process of the price’s analysis on the chart.
At the same time, those who use graphical models in their work will be pleasantly surprised by the availability of the ready-made templates of the popular patterns, including triangle, and so on. Finally, tools for the counting offer such well-known levels of Fibonacci and Gann.
But even this is not the greatest advantage of the 24option trading platform among those that can be named. The majority of traders use the technical analysis indicators in their work. The new trading platform offers the wide variety of such algorithms, including both trend and oscillator. All indicators can be found in the tab “Studies” – “System manager”. In addition, broker provides not only indicators, but also settings for them to make the work with algorithms full-fledged.
As for the underlying assets, the broker offers the wide variety of Forex currency pairs that include not only the major currency pairs, but also so-called cross currency pairs, stocks of the well-known companies, stock market indexes, and commodities. Four main groups of assets can be marked:
- 31 – Forex currency pair (both major and cross)
- 11 – commodities, among which there are gold, oil, corn, coffee, and sugar (it is also possible to trade with the pairs of gold/Japanese Yen, gold/Euro and gold/silver)
- 43 – stocks of the most well-known world’s companies, including Gazprom, Apple, BMW, Microsoft, and Nike.
- 19 – indexes, including Nikkei, MICEX, S&P500, and so on.
Such a wide variety is an undeniable advantage of this broker. More than 100 assets provide a trader with a possibility to conduct more delicate trading, hedging risks and using fundamental analysis at the same time.
Selection of the binary options is a fairly wide too. Each of the options’ types has few additional subtypes. Let’s consider each of them in more detail.
The key advantage of working with 24 option broker lies in the fact that this company is one of the leaders in the market. Trader does not have to be anxious about his capitals or unfair company’s policy towards him. This broker highly values his reputation, as well as his licenses.
But it would be unfair not to mention the distinctive characteristics of this company that brought it to leadership.
Trading training from this binary options broker rest on both self-education, using e-books and materials, and webinars, using which company’s professionals tell secrets of trading in the financial markets.
E-book tells about basic trading aspects. Here you can get information on what are the binary options, what are the advantages of this contract’s type, what types of options exist, and how to trade with them with 24option broker.
More interesting alternative for training is an interactive e-book. By the way, it is more informative from the practical point of view because it considers aspects that are very close to the process of the contracts’ buying. For example, among the materials of the interactive e-book you can find interesting facts about the technical analysis, or the trading psychology.
24option company provides the unique selection of video materials that can be used by both beginners and the experienced traders. In order to use video materials, it is needed to sign up and become the company’s client.
Whole video library is divided into few sections that will help a trader to get a knowledge which he, according to his own opinion, lacks. Here you can study more about the binary options trading, the trading psychology, the capital’s management, the market’s analysis, as well as about the trading platform provided by 24 Option.
For example, among its subjects you can find risk management, and the number of trading psychology aspects.
Section of video courses for the advanced traders considers the market’s analysis, the passive and the aggressive trading, as well as other fairly interesting and profitable strategies of working with a broker. At the end of each video course, there are small tests that will help a trader to understand, whether he has adopted the learned material or not.
When training with webinars, a trader will study everything related to trading and not only from the theoretical point of view, but also from the practical one. To hold a webinar, the Go To Meeting platform is used, signing-up in this platform is easy and takes only a few minutes. The advantage of our system lies in the fact that a trader can switch to the trading platform during a webinar. In other words, a trader is getting new knowledge and skills and at the same time applying them practically; thereby he is improving his financial standing.
In order to participate in a webinar, company’s clients have to sign-up on an official website in the special section, where the calendar of the further online lessons is shown. Webinars and interactive materials presented on a website are divided into separate subjects. For this reason, a trader can either view all of them or choose the subject that interests him the most.
Generally, the demo account is needed in order to familiarize with the trading platform and understand all of the trading intricacies. If a trader starts to trade with his own money, it is absolutely necessary for him to know all of the platform’s intricacies. Unfortunately, many beginners think that this account is opened for the training purposes only.
Naturally, such opinion could not appear from a scratch. Risking your own capital is always easier, if you have the accumulated experience under the belt. But the problem is that the opening of a demo account will never equip a trader with the necessary experience. And there are several reasons for this.
Firstly, trading with virtual money (instead of a real capital) cannot bring the expected effect. And it is natural because such trading brings no use. In the result a trader does not feel a deal and cannot analyze the real trading process. This is what a casus is: an absence of risk on a demo account leads to the psyche’s vulnerability.
In this sense demo account on 24option is in no way different from the same accounts in other companies. Standard broker’s terms before opening an account are to sign-up necessarily and to deposit the minimum amount to the account. After this, an opportunity to use a demo account will appear in the member’s are on 24option.com.
It is necessary to warn that this is a general order of the binary options brokers. It is due to the fact that within many companies training is available at a fee. In opposition to this, demo account with 24option is provided for free, when you present the security deposit as a commitment of a further work with a broker.
As for the process of funds withdrawal, it is fairly conventional with this broker. A trader requests the withdrawal and a broker transfers the amount specified by a trader to the banking account or the payment system selected by a trader from a list of those that are offered by a broker. Withdrawal can be carried out to the bank’s cards VISA or MasterCard, payment systems Webmoney, Qiwi, Skrill, and other.
It is important to know that during a first withdrawal a broker asks a trader to verify. In other words, a broker can request document copies, including, for example, passport, driver’s license, or the payment documents for housing and public utilities. It is done for the benefit of a trader and to identify his personality in order to assure a broker that a trader and nobody else has requested a withdrawal, as well as in order to struggle against money laundering.
To the intricacies of the profit withdrawal it is also possible to add the rule, according to which the requisite details’ of a deposit and a withdrawal from 24option have to coincide. This rule, as well as the rule of limitation of withdrawal amount to the credit card by a deposit amount, serves for a control of fraud. The last one rule is determined by the conditions of the plastic cards’ processing. All profit is divided into two parts: one part is deposited to the credit card and another part withdraws by any other mean (generally, by banks’ transfer).
Besides of that, you have to keep in mind the limit for one free payment in a month. The case is that the inter-bank transfer is paid according to the bank’s tariff and usually amounts to 20-30 US dollars. If a requested in 24option withdrawal is carried out not more frequently than once in a month, it will be totally free of charge for you. In this case, all expenditures for the payment are undertaken by a broker. But if you want to withdraw funds more than once in a month, you will have to pay for it yourself.
Many professional traders who work in the financial markets for a fairly long time recommend paying attention to how the support service deals with its duties. Why is it needed?
Support service is a company’s image in some sort. Communication or cooperation with a broker starts from a communication with the support services’ representative very frequently. A lot of things depend up the professionalism, accuracy, and, the most important, promptness of the support service’s answers.
Support service on a website works fairly consistently. At least, there are is no criticism towards this support team from the traders on the Internet. They always answer the questions precisely and with a high professionalism. If a broker declares that his team consists of the professionals in the financial markets, support team does not have to be an exception.
As for the bonus program, the analyzed company provides its clients with a unique opportunity of repayment of 50% from the initial investment. In order to get such opportunity, a trader has to reach a trading amount that exceeds his initial capital in fifty times. For example, if a deposit in the amount of $10K is opened, a trader will receive $5K and will be able to withdraw it when his trading amount will reach $500K or more.
The company has 3 types of accounts:
- standard account
- golden account
- platinum account
Each of these accounts has its own peculiarities. It is natural that the platinum account is the most appealing. It provides a possibility to trade with all options’ types, get the twenty-four-hour support service, and a bonus in the amount of 4% from each closed deal.
Taking into account that a broker offers several various binary options’ types, a trader can apply any types of strategies.
- For example, simple options like high/low are excellent for working with both trend and spread strategies. For such tools can be applied systems with indicator’s usage or graphic patterns, if such are formed on the chart. A trader simply forecasts its formation up to the beginning of expiration.
- Or such options like one touch or boundary in the broker’s toolkit. For them, strategies of trade within the range will suit ideally. Here the simple channel strategy or the channel strategy supplemented by the indicators will work perfectly. But it is also important to remember that if a trader chooses the option within the boundary, he will have to use the strategy on the rebound from levels.
- In trading with short-term options you can use any strategies. One thing to remember is that such strategy has to give the advanced signals because there is almost no time for the decisions’ making. For this reason, in the work with the quick contracts traders have to apply the oscillator indicators.
The broker itself in his video course provides few strategies that are based on trading using Japanese candlesticks. They show the models of candlesticks that can be used for the binary options trading. In addition, it is told about aspects like the resistance and support levels, and trends.
In conclusion, it can be mentioned that a broker really deserves its reputation. From the time of its opening the company has moved forward substantially. Though, we can’t say that in 2010 it could be classified as an underdog or an average company. A broker has set the bar high in the beginning and constantly aspires to improve quality of its services, as well as to expand an assortment of the offered financial tools.