24options.icu Review Is 24options.icu Scam Or Legit

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Is 24option a Scam?

Full Review

24Option is one of the first brokers that started out in the industry in 2009. Ever since then they have been implementing new tools and basically striving to make things simpler for their users.

It is good to know that if you are starting out, 24Option has taken the care to accommodate you by offering to the public a demo account service. This significantly minimizes the chances of you losing your funds due to being inexperienced. Their “Education Center” might be of good use, too.

To add to that, they have even started offering one-on-one training sessions with an expert. Clients of 24Option get to have a chat with a financial specialist via live chat, email or phone about their potential and different strategies. We believe that this is a great added-value for all clients, even the more experienced ones.

One of the main advantages of 24Option is that the broker is regulated by CySEC, and follows all regulatory rules to provide safe and secure trading.

24Option Withdrawals

The good news is that there is no limit as to how much you can withdrawal! There are brokers who will not allow you to withdraw all of your funds if they are significant in just one go, which is a great hassle and a bit worrying. 24Option not only refrains from that, but also works quickly in terms of getting your money back to you. Clients get their withdrawals transferred in 3-5 business days (or in just one if you have a VIP account), provided their have supplied the required identification documents.

You should keep in mind that 24Option, gives you one free withdrawal per month, and if you withdraw more often it has a fee. The charges correspond to the account level you own. For a Platinum account, you will get all your funds transferred to you for free. However, Regular account holders get just one free withdrawal (their first one) and Gold account holders get one free withdrawal per calendar month.

24Option Complaints

Our IS-Scam team browsed the web for any complaints that do not seem dodgy or plotted by competitors and the only ones we could find were regarding the withdrawals.

In a couple of forums we saw clients complaining how they have not gotten their withdrawal approval when they have waited for almost a week. We do not consider this a cause for concern because, first; in the end their problems were resolved successfully by the broker and second, because in their “terms and conditions” section it is clearly stated what the amount of time the procedure takes is.

Is 24Option Scam?

24Option is currently one of the most legit brokers in the industry. For some time now 24Option has been regulated by the Cyprus Securities and Exchange Commission (CySec) which keeps them in check.

24option Regulation

24option is one of the first broker that applied for financial regulation. Trading with a regulated broker ensures high level of service and protection for new clients. Being regulated by the CySEC (the Cypriot Financial Supervision Commission), 24option possesses the so-called “EU Passport” for providing services within the European Union according to the MiFID (The EU directive for financial instruments). Thus 24option is among the safest choices for European Traders.

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24option.com Review

24option started as a binary options trading platform back in 2009 or 2020, but nowadays they offer forex/CFDs trading on a web-based trading platform.

It is a very popular online trading site, especially among people from the United Kingdom.

They are partners with Juventus, an Italian football club.

The domain 24option.com was registered on the GoDaddy registrar on April, 28, 2020.

Is 24option a reliable “brokerage”/trading platform? Or is it a scam? Let’s see…

What is Offered on 24option.com?

“24option’s mission is to bring trading to the masses.” Indeed, that’s a “noble” goal, especially when considering how most people who trade, lose their money, which is we also find it highly suspicious when they say that “our account managers know that your success is our success.”

Account Types

Basic

Minimum deposit is $/€ 250.

You also get 1 basic lesson, daily news, trading central (see below), and 2 daily TC SMS alerts.

There’s a 100% margin call and 1 free withdrawal.

Floating spreads are lower the more you deposit. For example, they start at 2.5 PIPS for EUR/USD in the Basic Account while going as low as 1.1 PIPS in the VIP account.

All account types get leverage up to 1:500.

24option EU offers a leverage of 1:30 for retail clients and 1:400 for professional clients.

EU clients may opt to become professional clients, thereby getting Negative Balance Protection, Access to Premium Trading Contests and Programs, Dedicated Account Manager, Receive Daily Trading Central Signals, Access to VIP Platinum Education, and Segregation of clients’ funds.

To be regarded as a “Professional Trader,” you need submit an application. Only people with significant trading volume, experience, and financial status will be considered.

Non-EU 24option Accounts

For a minimum deposit of $5,000, you also get a monthly webinar and an additional basic lesson.

You may also withdraw your funds once per month for free.

Platinum

A minimum deposit of $10,000 will entitle you for 3 advanced lessons, 2 monthly webinars, and no less than 4 daily TC SMS alerts.

You will also get 3 free withdrawals per month.

Finally, if you deposit a minimum of $50,000, you’ll get 5 advanced lessons, 5 monthly webinars, and 7 daily TC SMS alerts.

Trading Platform

24option uses the MetaTrader 4 (MT4) platform for trading of CFDs/FOREX, one of the most popular charting and analysis software. This platform can be downloaded to a computer, accessed via a web browser, or you can use the mobile app available through Google Play Store or the Apple Store.

The MT4 platform is Forex trading is when you buy a currently while simultaneously selling another. With 24option however you will not be actually buying and selling currencies. The trading is virtual. You’re basically just betting on market trends.

CFD trading is very similar to Forex trading, but you are basically buying and selling assets and not currencies, i.e., metals such as gold and stocks such as the Apple Inc. stock. Here too you are not actually buying and selling assets. It is better understood as a financial betting platform.

Cryptocurrencies

24option offers trading CFDs on cryptocurrencies, which is why we have decided to write this 24option review in the first place.

They also offer a Crypto CFDs eBook in their Education section.

Assets

Currencies: EUR/USD, GBP/USD, EUR/JPY, GBP/JPY, USD/JPY, EUR/GBP, AUD/USD, USD/CAD, EUR/TRY, USD/CHF, USD/TRY, NZD/USD, AUD/NZD, AUD/JPY, CAD/JPY, CHF/JPY, EUR/CAD, GBP/CAD, AUD/CHF, GBP/CHF, CAD/CHF, NZD/CHF, EUR/AUD, GBP/AUD, EUR/ZAR, USD/ZAR, USD/RUB, USD/MXN, EUR/NOK, USD/NOK, AUD/CAD, EUR/CHF, NZD/JPY, USD/SEK.

Commodities: Aluminum, Zinc, Gold (XAU/USD), Silver (XAG/USD), Copper, Platinum, Crude Oil, Corn, Coffee, Sugar, XAU/JPY, XAU/EUR, XAU/XAG.

Stocks: Vodafone, PetroChina, BMW, Barclays PLC, Deutsche Lufthansa, Samsung Electronics, Google Inc. (we guess they mean Alphabet?), Apple Inc., ANZ, Royal Dutch Shell A, France-Telecom, BHP Billiton, Societe Generale, BBVA, Gazprom Pao, Amazon, Nike, Rio Tinto, Citi Group, E.ON, Baidu, Amex (American Express), Westpac Banking Corporation, Facebook, Coca Cola, JPMorgan Chase & Co, Microsoft, IBM, Exxon, McDonald’s, BNP Paribas, Fiat, AXA SA, Sony, Sumitomo, Tesco, ICICI Bank Ltd, Tata Motors Ltd, Walt Disney, Beiersdorf, ThyssenKrupp, Rosneft, GoPro, Netflix, Twitter Inc, Alibaba, HSBC, Ferrari, Enel, Orange France, eBay, Unicredit, Tesla, Nokia, Apple, Yahoo!, SberBank, LinkedIn, Schlumberger, Deutsche Bank.

Indices: FTSE 100 Futures, DAX 30 Futures, Dow Jones 30 Futures, Nasdaq 100 Futures, IBEX 35 Futures, CAC 40 futures, S&P 500 futures, Nikkei 225 Futures, SMI Futures, MIB 40 Futures, AEX Index, NIFTY futures, ASX 200 Futures, Hang Seng Future, Bombay 30, Tadawul Index, KOSPI 200, MICEX, South Africa 40 futures, TA-25 Index, RTS Index, Kuwait Index, Dubai Index, MSM 30 Index, Qatar Index.

Education

24option provides a video library with webinars, daily news, analysis, and more.

The 24option education center also contains material about trading cryptocurrencies via CFDs.

There’s an economic calendar.

Advanced Interactive eBook

Topics covered include trading psychology, market analysis, and trading strategies. It includes a glossary of trading terms and quizzes.

Videos on Demand

Forex Intro, including the following topics: Pending Orders, Market Analysis Types, Chance and Risk, Are you an Emotional Trader?, Distributing Risks, Currency Pairs, Buying and Selling, Passive Trading 5/15 Rule, Aggressive Trading 10/30 Rule, Calculating Pips, Trend, Closing an Order, Support and Resistance, Shooting Star, Harami patterns, Engulfing+, Downside Gap Three, Breakaway, 3 White Soldiers, Pips, Short and Long, Take Profit Order, Opening a New Order, The Terminal Window, and Trading is an art form.

Forex Beginners, including: Glossary of Concepts, Types of Orders, Basic Forex Terms, and The Forex Market.

Forex Intermediate videos go over the following topics: Advanced Technical Analysis, Basic Technical Analysis, Market Analysis, Capital Management, Trading Psychology, and The World of Global Trading.

Free Trading Webinars

A series of webinars (through GoToMeeting) is offered to familiarize clients with the 24option trading platform and with popular trading techniques. Questions are encouraged during webinars.

  • Trading by algorithm 24DX (GOLD)
  • Introduction to Trading Central (Platinum)
  • Market Insight & Advanced Technical Analysis Platinum

Trading Central

24option has partnered with a company called Trading Central to offer their clients access to Trading Central’s Advanced Market Analysis, which contains analysis, data, and commentary regarding more than 8,000 assets. You can select which assets you focus on to get alerts when there are updates.

Who is Behind 24option?

24option is ran by two separate companies. Richfield Capital Limited is licensed in Belize and provides service for International clients, while Rodeler Limited is licensed in Cyprus and provides service with the EU.

Why the separation? Well, EU regulations are tight, and the company would lose money if they used the same regulations with all of their clients. For example, EU regulations require stating how many of a companies clients lose money. Indeed, on the EU 24option website it is stated that “81.27% of retail investor accounts lose money when trading CFDs with this provider.”

Contacting 24option can be done using the contact form and live chat widget on their site. They also have the following social media accounts:

24option International

24option.com/international is operated by Richfield Capital Limited, a Belize investment firm, authorized and regulated by the International Financial Services Commission of Belize with license number IFSC/60/440/TS/19.

Address: Unit 303, No. 16 Cor. Huston and Eyre Street, Blake Building, Belize City, Belize.

Another address: No. 5 Cork Street, P. O. Box 1708, Belize City, Belize C.A.

Richfield Capital Limited does not provide service within the EU as well as in the USA, British Columbia, Canada, and other countries.

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They are a technological company and not a financial adviser, therefore they are are not licensed to give trading, investment, or financial advice.

  • United Arab Emirates and Saudi Arabia: +973-65009202
  • Singapore: +6531655047
  • Malaysia: +60392127470
  • South Africa: +27109000868
  • Mexico: +525546319773
  • Colombia: +5715085218
  • Peru: +5117306795
  • Brazil: +552135008860
  • Chile: +56229381551

Fax: +357 25 030329

Customer service: +7-4996092518

Affiliates: +357 25 262025

Additional phone: +501-223-6910

Additional fax: +501-223-6623

24option Europe

24option.com/eu is operated by Rodeler Limited. It is a Cyprus Investment Firm, authorized and regulated by the Cyprus Securities and Exchange Commission with CIF license number 207/13.

Address: 39 Kolonakiou street, Frema Plaza, Agios Athanasios, 4103 Limassol, Cyprus.

Rodeler LTD also owns (or owned) the brands 24fx.com, GrandOption.com, and QuickOption.com.

Support is available 24/5.

Tel: +357 25 262063

Fax: +357 25 030329

Customer service: +357 25 262063

Affiliates: +357 25 262025

Germany

In Germany there’s a tied agent known as RODELER DE Gmbh Im Zollhafen 2-4 50678 Köln Registration number: HRB88142.

Tel: +49 221 828 29158

Fax: +44 203 693 8656

Customer service: +49 221 828 29359

Romania

In Romania there’s also a tied agent known as Cronos Ares Partners Srl Splaiullndependentei 291-293, Bucuresti, Romania Registration Code: 37430414.

Tel: +40 738 640 549

Customer service: +357 25 262063

Deposits

Deposits can be made using:

  • Credit Cards (Visa, MasterCard, or Discover)
  • Electronic Payment (i.e., Skrill)
  • Wire Transfer

Accepted currencies are US Dollar (USD), Euro (EUR), British Pound (GBP), ZAR (South African Rand), RUB (Russian Ruble), and JPY (Japanese Yen).

EU clients can choose between British Pound, Japanese Yen, and Euro.

Minimum deposit is 250 EUR/USD/GBP, 1,200 ZAR, or 10,000 RUB.

For wire transfers, the minimum for EUR/USD/GBP jumps to 1000.

Maximum deposit per day is 10,000 USD/EUR/GBP and 100,000 JPY.

Maximum deposit per month is 40,000 USD/EUR/GBP and 4,000,000 JPY.

Withdrawals

To withdraw funds from your 24option account, you will need to complete a questionnaire and verify your identify by providing the following documents:

  1. Proof of ID – Photo identification, i.e. Passport, Driver’s license, or National Identity Card.
  2. Proof of residence – Bank or credit card statement, utility bill (water, electricity, or house telephone bill), life or house insurance or government issued documents issued within the last 6 months.
  3. Verify your payment method – If you are using a credit card, a picture of both sides of your credit card, displaying the last four digits of your credit card, expiry date and name only. For other online payment methods they require proof of the deposit made by the holder of the trading account.

Withdrawals can be made to your credit card, through a wire transfer, or selected online payment systems. But keep in mind that if you withdraw via wire, there’s a minimum withdrawal requirement of ₣100, $120, €100, £80, or ₽7000.

Some account types allow for free withdrawals. If you need to withdraw and have already used all your free withdrawals, you would have to pay a fee of 3.5% for credit card/Neteller, 2% for Perfect Money/Moneybookers (Skrill), or $30, €24, ₤20, ₣20, ₽1800 for wire transfers.

For EU clients, withdrawals via Qiwi (3.5% fee) and Webmoney (0.9% fee) may be available. Wire fees for EU clients are $30, €30, ₤30, ₣30, and ₽1,800.

Bonuses

Offered only in the International version of 24option, the bonus scheme is a highly dubious marketing technique, which has been banned by CySEC in Europe. The company is basically giving you free money to use for trading on top of your deposited funds (up to 50%, so if you deposit $1,000, you may be offered up to $500). Kinda like leverage.

What’s the catch? To withdraw any earnings, you need to trade in a volume of 20,000 times the bonus amount.

If you’re not an experienced trader, we suggest that you opt out of the bonus scheme.

You can read more about the bonus scheme here.

Review Conclusion: is 24option a SCAM?

We do not currently believe 24option to be a scam. Having said that, 24option started as a binary options broker. Binary options OTC trading is currently illegal in much of the world, including the US and Europe. CFDs trading is not less risky than binary options. Perhaps even more due to leverage. Indeed, CFDs are already banned in the United States and Belgium, which is why 24option cannot provide service there.

Don’t sign up and deposit money with 24option and other CFDs trading brokers if you cannot afford to lose your money. Also, remember that you are not actually trading and that 24option is not licensed to provide any investment advice. Their profit is your loss and your profit means less money for them, so don’t heed to any “trading tips” they offer you.

However, if you are among that 18.73% (at most) of people who actually do make money with online trading, then you can probably trust 24option to honor any withdrawals and not to steal your money. They are a regulated broker with a long history, so we believe they are legit.

Is 24option a scam?

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Of course they are scam artists,

because they offer binary options.

Second thought : When digging a bit deeper, it appears they recently stopped offering binary options, thats a positive, but they further now offer CFD’s and Forex, while not full out defacto scams, it are also areas of trading where retail traders best stay away from.

A real scam or not, is here irrelevant, you should stay away from this offshore company ( Cyprus), with your money.

Like to gamble ? go to Vegas and have fun while loosing your money.

Like to do some profitable real investments or real trading stay away from all bi.

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