24 Forex Trust 24 Options as one of the biggest Forex trading companies in South Africa, 24 offers the best online trading, Forex trading and binary options in the South African region. 24 is regulated by CySEC.24 Options offers you a demo account upon your registration to ensure that you practice for before depositing your money. 24 has hired a team of support agents and brokers that dedicate their time to help if need clarify details .
variety of accounts
- Demo Account
- Basic Account
- Silver Account
- Gold Account
- Platinum Account
- Diamond Account
24option is that the most generally known broker on the market and that they offer a helpful demo account to undertake out their trading platform with no risk involved. Their minimum deposit requirement is above another brokers, but if you’re serious about trading that shouldn’t pose a drag . 24option has been servicing traders for several years now and features a solid diary to prove they’re not a scam. they are doing not currently accept clients from the USA.
24option have moved faraway from platform provider Tech Financials, and developed a replacement bespoke platform. The new offering also saw a enter Forex and CFD trading, with the firm also offering forex pairs that include Bitcoin. Recent growth in cryptocurrency trading led the firm to feature Bitcoin pairs as soon as they might .
The 24Option trading platform is fairly unique, even within the fairly generic world of binary, forex and cfd trading. the design and feel of the platform has been designed keep with the brand, therefore the usual red and green trading buttons are replaced.
This bespoke style doesn’t impact the usability of the platform however. the sort of trade is out there on the highest left menu – choose from:
The relevant assets are then shown beneath. Selection any of them will update the relevant payout information, and therefore the price chart on the proper . The trading area is well laid out, so although tons of knowledge is out there directly , it’s still clear and straightforward to use.
Open trades, and a history of closed trades are available under the trading area, where performance is consistently updated.
The trading platform also gives users access to the 24Option signal service. The trader sentiment bar is additionally wont to aid trader decisions. The demo video at rock bottom of this review illustrates the way to get the foremost out of those . As ever, signal services should be treated with a particular level of caution, particularly where supplied by the broker. But they will be a further tool for confirming, or stepping back from, particular trades.
With quite 100 differing types of underlying assets on offer, traders at 24Option will definitely be spoilt for choice. they will choose for 43 differing types of stocks, 11 commodity related options, 30 currency pairs and 19 sorts of market indices.
With Forex and CFD trades the payout will depend upon the worth movement of the underlying asset. Traders can utilise leverage to manage their risk and payouts. While trading on margin can increase profits, it can equally accelerate losses, so should be used with caution.
In addition to being regulated and licensed by CYSEC, 24Option is additionally registered with several other European regulatory agencies like the Autorité des Marchés Financiers (AMF) in France, BaFin in Germany, CONSOB in Italy and therefore the Financial Conduct Authority (FCA) of UK.
The key advantage of handling a regulated broker is that the incontrovertible fact that you usually have someone to show to for dispute resolution within the event there’s a dispute between you and therefore the broker. Another factor that ought to weigh heavily on a trader’s mind when selecting their broker is that the ability to say compensation should their broker turn insolvent. With 24Option, traders needn’t worry as they’re a member of the Investment Compensation Fund scheme. The fund entitled traders to say up to a maximum of 20,000 euros.
The 24Option app may be a smart and straightforward to use mobile trading platform, available for android, iOS or Windows, the app is free.
The app features a clear, simple interface, and therefore the trading process is intuitive. Screens and buttons are large making them easy to use without risk of mistakes due to small or hard to seek out buttons. also as simple trading, the app also will display open and closed trades, and update them in real time. The trading app may be a welcome addition to the range of features delivered by 24Option. Each version has been written to take advantage of the complete range of functions across multiple devices, so android, windows and iPhone users all get a tailored experience.
24Option withdrawals are going to be paid back to the source of the deposit. So payments can only be returned via an equivalent method as a deposit was made. This a standard situation, and is really a safeguard to guard traders from fraud.
For an equivalent reasons, the firm do require proof of address and a few sort of valid ID, before making withdrawals. this is often to suits concealment laws. Where a deposit is formed via mastercard , details for that card also will be required for any withdrawal made later.
Withdrawal complaints or problems often stem from delays during this proof of identity procedure. it’s therefore worth sending of these details early – before a withdrawal request is formed . This reduce the probabilities of problems, minimise complaints and ensure quicker withdrawal payments.
24Options offer a variety of account types. Entry to those accounts will depend upon the dimensions of the initial deposit. The larger the primary deposit, the upper level of account A trader will join. However, traders can always start with a smaller deposit – then make a bigger deposit at a later date so as to extend their account type.
Gold and Platinum account holders can enjoy regular free withdrawals, regular account holders receive their first withdrawal free. Remaining withdrawals may incur a percentage charge and this figure will depend upon the tactic used – Skrill for instance , will incur a 2% charge. Withdrawal requests are often made at any time.
New accounts also will get to settle on between forex and cfd accounts. Bitcoin is tradeable via the forex pairs.
Is 24option a Scam?
As a regulated broker, 24Option aren’t a scam. they supply the service they assert they’re going to , and client funds are held separately to company funds. Regulators are taking a keener interest in binary options lately and 24Option have supported this. The trading platform is reliable, and withdrawals paid as requested.
One complaint levelled at 24option has been the practice of “upselling”. this is often where an account manager working for the broker will contact clients and offer to trade on their behalf. This generally results in the trader over-trading, and in some cases trading beyond their means.
Where possible, traders shouldn’t let anyone else trade on their behalf, and in response to the complaints generated, the binary industry has begun to finish the bonuses paid to account managers that behave during this way. It remains to be seen if this ends the practise, and traders got to remember of the danger . If called by an account manager offering advice, we might suggest a polite “No thanks”.
24Option offer a reasonably unique bonus offer, by moving faraway from the normal deposit match bonuses. they provide a variety of ‘Premium Prizes’ – these are normally ‘tech’ offerings, like an iPad or MacBook.
As with any reputable broker, 24Option will allow traders to cop out of any bonus incentive.
Below is demo video from 24option, which details the way to make a trade via a tutorial – from selecting the asset and trade type, to analysing the charts and judging trader sentiment, this 24Option demo video is fully comprehensive, including where to seek out the signal service (‘Trading Alerts’);
Asset Choice Rating – 10
• 43 Stocks
• 30 Currency Pairs
• 11 Commodities
• 19 Indices
Deposit Method Rating – 9
• Credit Cards
• Wire Transfer
• Web Wallets
Trading Features Rating – 8
• Standard High/Low Binary Options
• One Touch Binary Options
• Short Term Binary Options
• Boundary Options
From the very fact that 24Option is licensed and controlled by CYSEC, we will deduce that they’re a legitimate operation. the nice and cozy and friendly service provided by them certainly makes a refreshing change from the cold and impersonal service which other brokers are familiar with providing.
For those that have an interest in opening a live trading account at 24Option, their minimum deposit requirement is $250. As for his or her minimum trade size, you’ll trade from $24 per trade. While the services offered by this broker are excellent , it’s their regular trading competition that sets them apart. Some offer tens of thousands of dollars in prizes to the winners of their competitions. There also are innovative bonuses offered, and therefore the demo account allows traders to urge wont to the platform before getting into the markets for real.
• Bitcoin Forex trading
• Extensive list of underlying assets for trading
• Professional Customer Support
• Robust and Advanced Trading Platform
• Support Multiple Languages
• wide selection of advantages and Incentives
• Now offer CFDs additionally to binary options
• $250 first before access to the demo account is granted