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.
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.
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.
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.
CONCLUSION: IS 24OPTION A TRUSTWORTHY BROKER?
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.
*** 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. ***