24option Broker Review 2020

FairBinaryOptions Broker Certificate
  • Min. Deposit $250
  • Max. Leverage 1:400
  • Spread EUR/USD from 1.5 pips
  • Mobile Yes
  • Platform MT4/Webtrader
  • LiveChat Yes

24option is one of the most popular forex and CFD brokers online. They are an EU-regulated company that started out as a binary options broker, but now exclusively offers trading in forex, crypto, stocks, commodities and indices.

With 24option, traders will gain access to the infamous MetaTrader4 (MT4) platform and a free 24option demo account.

24option is not available for traders in the U.S. If you are trading from the U.S, we would recommend checking out NADEX review– the best binary options provider for U.S. traders.

*** Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. This material is not investment advice. ***

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  1. 24option Account Features

    24option used to be one of the best binary options brokers, however today they only offer CFDs as an instrument and not binary options which has deemed too difficult for EU retail traders to understand. has four different account offers available: Basic, Gold, Platinum and VIP. As mentioned above, there is also a 24option demo account available for beginners to practice trading entirely risk-free.

    The maximum leverage on all account types is 1:500. Depending on the account you choose, the spreads will range from 2.5 – 1.1 pips. You can check out the deposit amount required for each account below:

    Basic Account: $250
    Gold Account: $5,000
    Platinum Account: $10,000
    VIP Account: $50,000

    If you are beginner in trading, we would advise you to always start with the demo account, which allows you to practice trading in a risk-free setting. Below you will find our full guide to the 24option demo account however keep in mind that binary options demo is no longer available as 24option does not offer binary trading anymore.

    24option Demo Account

    Demo trading is an important tool that all traders should use. With the 24option demo trading feature, you can learn the intricacies of their software and trading platform. You can also experiment with new ideas and binary trading strategies converted into CFD strategies instead. If you don’t use demo accounts yet, you really should. There is a lot to learn when it comes to online trading and you will be giving yourself a big head start if you first begin with the 24option demo.

    How do I get a 24option demo account?

    First, you need to create an account with 24option. By simply filling in your personal information, you can create an account and have it verified within minutes. Signing up is easy and this will not prove to be a big hassle for you at all. Next, you will need to fund your account. An initial deposit of $250 is required to get you going.

    You don’t need to use your $250 deposit right away. In fact, you don’t have to use it at all in order to start virtual trading. Demo trading is completely risk-free and you should never need to pay or put any sort of money at risk while you are demo trading. That would defeat the whole point. Demo trading is supposed to be an easy way for you to use a broker as practice.

    If you open up an account, fund it, and then demo trade with 24option, you can always choose to cash your real money account out and close your account if you decide that their trading platform is not for you. This is one of the reasons why you should always use demo trading first—even if you have online trading experience. If the broker is not for you, you can simply walk away without losing money. But you won’t be able to figure this out if you don’t try demo trading first.

    Why do I need to pay to use the 24option demo account?

    Pretty much all brokers require that you make a minimum deposit before they will give you access to their demo trading platforms; this is not unique to 24option.

    This is a way for the broker to make sure that only people serious about forex trading are using their software. The platforms are not free for the broker and they need to make sure that they are running a smart business. Don’t worry, though. If you don’t like the broker, you can withdraw your money before you risk anything with actual trading. The demo account acts as a great safety net for this reason.

    How do I use the 24option demo account?

    24option’s demo account is simple to use. They pride themselves on having a great platform that is simple and powerful. By utilizing their demo account, you can give yourself a jumpstart on your applicable knowledge. One of the things that is so necessary about demo trading is that it allows you to mimic the real trading platform so that when you are actually trading with real money you don’t run into silly and avoidable technical problems.

    If you find that you have any sort of questions about how certain features of this broker’s platform or software is supposed to be used, make sure you contact their stellar customer service department while you are still in the demo trading stage. You want to clear up any sort of problem before your real money is placed in a risky situation.

  2. 24option Trading Software

    24option offers a web-based platform, the MetaTrader 4 (MT4) trading platform. MT4 is the most popular platform for online trading due to its user-friendly interface and powerful features.

    If you prefer mobile trading, you can download the 24option trading app on the App Store or Google Play.

    The assets you will find available at 24option are a large variety of CFDs in forex, cryptos, commodities, stocks and indices. The broker recently expanded their stock collection with new additions of cannabis stock CFDs, which have become increasingly popular the past year.

    24option Robot

    The 24option robot is no longer available.

    If you are looking for a good robot to help you with your trades, check out our trading robots section for the best automated trading options.

    24Option Education

    An educated trader is far more likely to be a successful trader, which is one of the main reasons why 24option has ensured that they have a section of their website dedicated to the furthering of their traders’ education.

    This is one aspect of the site that you should definitely use to your advantage. Remember, the more effort you put into trading, the more successful you are likely to be. Trading is tough and improving your skills will make it a little easier for you.

    What Education Material Does 24Option Offer?

    When it comes to their education section, 24Option has a lot to offer you. They break their education section down into four main portions: Daily Market Analysis, VOD, Trading Strategies and Webinars. These are worth exploring a little bit more.

    Daily Market Analysis is where most traders should start their day. This is the basic fundamental and news overview that you will need to make informed trades, select which assets you will be focusing on for the day, and how you will interpret the technical indicators that you will use. You can check out the Trading Central and their economic calendar for details.

    VOD is the video on demand section of the website. It is a great introduction to trading if you are a beginner, and a good way to reinforce advanced skills if you are an experienced trader. It’s also a great way to quickly introduce how to use real trading skills on the 24option trading platform.

    The webinars are the meat of the education section at 24option. These introduce the trader to some of the unforeseen pitfalls that are present in the world of online trading and get you in the right state of mind to trade smarter and alleviate some of the inevitable risk that all successful traders need to address. There are also intermediate level trading webinars, as well.

    Why Does Broker Education Matter?

    There’s no need to argue in depth that it is important for a trader to learn as much as they can. An uneducated trader will lose money, simply because they can’t keep up with what is going on in the world and in their particular marketplaces that will affect prices. They also can’t learn new strategies or master the one or two that they might intuitively know. Education is a must for success, which is exactly why Binary Options University was created. Thousands of people have learned the itm and otm meaning by reading our articles and studying the guides to the binary options basics and more recently about CFD trading.

    You can get an education on how to trade anywhere, and much of what you need for basic success is completely free to access. You can watch videos on YouTube, read articles on thousands of different blogs and sites, and you can practice along with trading groups, either in person or in a virtual setting. However, when you have access to educational materials all in one spot, such as what 24option offers each and every one of their traders, then you can simplify the process.

    There are many benefits to having an educational section at 24option. The big one is that it saves you time. You need educational resources, if only you are using daily news updates or a blog feed to get key pieces of news that will impact your trading. Having these resources on the same site that you’re already spending time on consolidates web searches and ensures that all of the information that you need is only a click or two away. It’s an immediate time saver, and one that allows you to fit a few more trades into your busy day.

    Diving a little further into the concept, you will notice that using on-site educational resources teaches you how to use the platform without actually putting money at risk. It’s not quite as helpful as using a demo account, but it is basically a video instructional of how to use the site.

    Select an alternative broker if you are from one of the following countries below. Stay clear from any brokers or binary options robots on our Binary Option Blacklist. Below you will see our alternative to 24option who is strongest in Europe.

    🇧🇷🇧🇷 You from Brazil? Open a free demo account with IQ option review 🇧🇷🇧🇷

    🇹🇭🇹🇭 Traders from Thailand should check out the Binary.com Review 🇹🇭🇹🇭

    🇺🇸🇺🇸 US traders are suggested to read our  Nadex review 🇺🇸🇺🇸

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  3. 24option Support Information

    The customer support team at 24option is available through email ([email protected]), phone, live chat or the online contact form on their website.

    They have phone numbers available for Germany, Cyprus and Romania.

    Germany: +49 221 828 29158
    Cyprus: +357 25 262063
    Romania: +40 738 640 549

    They are quick to respond to emails most of the time, but live chat or phone will likely answer your questions much more quickly. If you visit their “contact us” page, you will find the contact form and their live chat.

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  4. 24option Payment Methods

    If you decide that 24option is the right forex broker for you or you want to use them, we encourage you to learn all you can about financial transactions at this site before you make a deposit.

    The site is pretty simple to use and they do have staff on call that can help you out if you have issues, but educating yourself before there’s money involved will be your best move. 24option is a strong broker with a great reputation for speedy withdrawals, but you want to make sure they are right for you before you ever make a deposit.

    24option Deposits

    Making a deposit at 24option is fairly simple, but because this is your hard-earned money that we are talking about, you probably have some questions and concerns about the process. Here, we will walk you through the process of how to make a deposit, and hopefully address all of your concerns on the way.

    Are 24option deposits safe?

    This is one of the big important questions you should ask of any broker. Is it safe to deposit money with them? 24option is regulated, and thanks to this, they have certain financial safety laws that they must follow. This includes the protection of your personal information and your deposit money.

    On top of this, 24option uses SSL encryption to ensure that your personal data and financial information is inaccessible to others. This is a standard practice whenever cash transactions are involved, and 24option sticks to them to make sure that your personal safety is ensured.

    So, yes. 24option deposits are safe. Just make sure that you are using one of the methods that they allow on their site and that it is legal for you to use this broker where you live before you proceed. If you follow all local laws and stick to the rules that 24option has laid out, you will have no problems making deposits or withdrawals from 24option.

    24option Withdrawal Methods

    You can withdraw cash from your 24option account using a Visa, MasterCard, or Discover credit card. You can also use a wire transfer so that the money goes straight to your bank. There are also a variety of e-wallet options that you can use, including Skrill, WebMoney, Qiwi, iDeal, Neteller, Sofort, or AstroPay, to name some of the more popular ones. For more information on the methods available to you personally, keep reading.

    At 24option, the minimum amount that you can withdraw is $10.

    Please take notice that 24option no longer accept binary options payout nor binary trading in general. If you are looking for the best binary options education, then we suggest you read more in our recently updated binary options trading course online

    How do I make a withdrawal?

    When it is time to withdraw your money, you need to request a withdrawal. Before you can do this though, you will need to have submitted the proper documentation to prove your identity, address, and financial methods.

    The easiest way to do this is with a scanned and emailed copy of a government issued ID card and a utility bill. You can use a driver’s license or passport for the ID, and an electric bill for your utility. This will ensure that your identity and place of residence is supplied. It verifies your identity and keeps 24option in compliance with the regulations that they need to follow.

    If you used a credit card for your initial deposit, you will also need to submit a copy of the front and back of the card. Make sure that the CVV and the first 12 digits of your card are blocked out for your protection.

    At 24option, as with most other forex brokers, when you make a withdrawal request, you will automatically be withdrawing using the same method that you used to deposit. So, if you used a wire transfer to fund your account, this will be how your money is returned to you. If you used Skrill, then your money will be sent back to your Skrill account.

    There is an exception here if you used a credit card. If you deposited $500 with your Visa, but you want to withdraw $600 from your account, you cannot transfer all $600 back to your card. You can only withdraw up to the amount that you deposited with your credit card because otherwise, 24option would be charged a processing fee by your credit card company.

    If you want to withdraw more than you deposited, the extra will need to be processed using an e-wallet or a wire transfer. We recommend an e-wallet for most as this is usually cheaper on your end as banks will sometimes charge you a fee for wire transfers.

    Does 24option charge withdrawal fees?

    Yes. They charge fees for a withdrawal it is standard in Forex, CFDs and Binary Options payout.

    If you are using a credit card, this fee is 3.5 percent. For wire transfers, there is a flat fee of $30 USD. If you use a different currency, that fee will change based upon the currency that you are using. With the different e-wallets, fees will vary a little based upon the service that you use.

    At Neteller and Qiwi, the fee is 3.5 percent. At Skrill, they charge 2 percent. And at WebMoney, they charge 0.9 percent.

    Based upon what’s available to you, you might want to think about what your best way to make a deposit is before you get started at this site so that you can save money down the road by choosing the most efficient method of withdrawing your money later on.


    24option is a popular forex and CFDs broker and for good reason. They have a wide array of underlying assets, a great 24option demo account and very competitive rates of return, especially for the larger traders with Platinum Accounts. Overall, this is a very good and reputable forex and CFD broker and we would highly recommend trading with them.

    24option neither offer binary trading nor touch no touch binary options, so if you are looking for that instrument you need to find a different broker. Keep in mind in EU it is totally banned for everyone.

    *** Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. This material is not investment advice. ***

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24option is regulated by CySec24option
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Reg no.: 207/13