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🏦 Min. Deposit | USD 100 |
🛡️ Regulated By | FSC |
💵 Trading Cost | USD 25 |
⚖️ Max. Leverage | 500:1 |
💹 Copy Trading | Yes |
🖥️ Platforms | MT4 |
💱 Instruments | Commodities, Cryptocurrencies, Forex, Indices, Stock CFDs |
Last Updated On Sep 24, 2021
75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. We may receive compensation when you click on links to products we review. Please read our advertising disclosure. By using this website, you agree to our Terms of Service.
24Option started life as a binary options provider but now only offers CFDs for Forex, Commodities, Stock and Indices. Regulation is poor, with oversight from the Belize IFSC only – meaning that 24Option is not permitted to take clients from Europe and a number of other countries.
The minimum deposit at 24Option is 250 USD, and support is provided for its proprietary web-based trading platform as well as MT4. Spreads are relatively wide for a market-maker of this type and educational material is restricted to active traders.
🏦 Min. Deposit | USD 100 |
🛡️ Regulated By | FSC |
💵 Trading Cost | USD 25 |
⚖️ Max. Leverage | 500:1 |
💹 Copy Trading | Yes |
🖥️ Platforms | MT4 |
💱 Instruments | Commodities, Cryptocurrencies, Forex, Indices, Stock CFDs |
24Option is operated by Richfield Capital Limited, a Belize investment firm, authorised and regulated by the International Financial Services Commission of Belize with license number IFSC/60/440/TS/19. Currently, 24Option has no oversight from any of the major regulators (FCA, CySec or ASIC) so we would urge caution before opening an account here.
24Option is a market maker broker with a dealing desk where your orders are matched internally and the broker is the counterparty to your trade. In this execution model when you make a profit you are profiting from the broker’s loss and not from the interbank market. Since your orders are kept internally on the broker’s book there is potentially a conflict of interest.
Regional Restrictions: Richfield Capital Limited does not offer services within the European Economic Area and Switzerland as well as in certain other jurisdictions such as the USA, British Columbia, Canada and some other regions.
24Option began life as a binary options broker but now offers its clients a variety of Forex account types. With 24Option you have the following four types of accounts, depending on your minimum deposit. With the increase in minimum deposit, you will receive better trading conditions – specifically tighter spreads, but also free withdrawals, free education and webinars and trading alerts via SMS from Trading Central.
Based on my own personal experience, I would strongly recommend that you speak to your agent once they call you after registration and ask for a higher account type as an exception – often this works and you will be able to obtain a higher status despite having deposited a lower amount. All accounts have access to Trading Central and have leverage up to 1:500.
Opening an account with 24Option takes a matter of a few minutes. You can trade through 24Options proprietary web-based trading platform, which is fairly easy to use, or use the industry-standard MT4. A free Demo account with 10,000 USD is automatically activated upon registration. Additionally, you can also receive SMS alerts, which means you’ll always be up-to-date with the market movement.
24Option is a basic market-marker broker with wide spreads, poor regulation and no permission to offer services to EU citizens. Withdrawals are charged, platform choice is limited and spreads only tighten to decent levels with a very high minimum deposit.
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