24Option is operated by Rodeler Limited, a Cyprus-based Investment Firm. It’s authorized and regulated by the Cyp🌞rus Securities and Exchange Commission with CIF license number 207/13. Unlike some other brokers and spread betting providers, very little information is available about the company on its website such as how long they have been in business, who the managers or owners are, and how many assets are under management.

Trust

24Option has mixed results when it comes to trustworthiness. One major negative is that the broker is only regulate⛦d in Cyprus. This still falls under tඣhe EU regulatory regime but may not be as robust as other more developed regulatory regimes like the UK or Germany.

Another factor working against the broker is the lack of guaranteed stop loss trading outside of France. On the bright side, 24Option participates in an investor compensation fund should the broker become insolvent. Also🐈, client funds seem well protected with anti-fraud software including both ClickSSL and Thawte. Negative balance protection, that prevents clients from losing more thanඣ their initial deposit, is also in place as per new EU regulation.

Desktop Experience

Like most other broker♔s, 24Option allows traders to download and use the MetaTrader 4 (MT4) platform. This platform is an industry standard ꦡand allows for advanced charting and analysis. Traders who do not wish to use this software can also use the 24Option’s desktop platform, which is better than the industry average. For example, the desktop platform has customizable and transparent price lists for easy trading and execution. It allows for advanced charting with an “indicator wizard” that allows traders to build customized charts. It is also possible for traders to build a watch list simply by clicking on the star next to any currency pair. This pair will then appear in a list of favorites.

Traders are also able to leave conditional orders and have stop-loss and take-profit trading options that allow for hedging. Finally, unlike some brokers, 24Option displays other clients’ positioning, so t🌌raders know how other traders feel (bullish or bearish) about any instrument.

Special Features

24Option lacks any special features s🍒ometimes a🍰vailable to other traders such as social trading. Other features such as automated trading or back-testing certain trading strategies are available via the MT4 platform, but not through the desktop platform.

Customer Support

Customer support is qu༒ite good and 24Option scored well in this category. For example, online chat is available for both new and existing clients, and 24 hour support is also available via phone or email 5 days a week.

Outside of office hours, robo support can answer many frequently asked questions and🌠 is easy to find on the lower right part of most of their webpages. The broker also has a list of the most basic FAQs on their site. Social media support is available via X, where several useful daily market briefing videos can be f👍ound.

Investment Products

24Option also scored well for its range of investment products. While the site has slightly fewer currency pairs than other provi🌠ders, they do provide extensive coverage in cryptocurrency trading (including pಌairs with major currencies such as Bitcoin/USD, Bitcoin/EUR, Bitcoin/GBP, etc).

Additionally, they offer trading in over 160 individual stocks, which is a clear advantage for a t♒rader wishing to partake in such activity. Other trading products such as gold and oil are standard, and 24Option offers trading in many of the sam🍃e commodities as other providers at competitive spreads.

Research Tools and Insights

The range of research products resulted in mixed results for 24Option. Fo൲r example, the broker ha♑s teamed up with Trading Central to provide comprehensive technical analysis complete with entry and exit points, trading charts and recommended positioning. Videos and market calendars are also available to help traders with their decisions. But the broker is behind its peers in areas such as streaming news or fundamental research. These tools can be helpful in making longer-term trading decisions and 24Option is at a competitive disadvantage when it comes to offering these services.

Education

Educational products offered by 24Opt🅷ion are quite good. There are several videos that explain many concepts such as CFD trading itself. Other videos cover topics such as penওding orders, trend analysis, risk management, calculating pips, support and resistance trading. Webinars are given up to 10 times per month, with at least two dedicated to basic and intermediate technical analysis. There is a separate section related specifically to forex trading with its unique concepts as well as a glossary with key terms important to CFD trading.

Mobile Experience

24Option’s mobile experience is adequate but not top of the range. Mobile apps are available in 𓆏both iOS and Android🧸, but there is no dedicated mobile website that is unique to the desktop experience. The app provides for fingerprint encryption, but this is part of Apple’s Touch ID, and not a separate factor authentication provided by the broker.

Many of the same features that make the desktop experience pleasant are also available in the app. For example, steaming quotes allow traders to easily see where assets are trading. A mini-chart shows the short-term trend as well. It is ಞalso possible to leave conditional orders, stopℱ-loss and take profit orders in the mobile app, so traders have full control over their positions.

It is easy to make a mobile watchlist by simply tapping on the star to the left of the currency pair. T𝕴his will add the pair to a list of favorites that can be easily filtered for faster trading. Charting is also easy with the app. Traders ꦛcan easily switch timeframes to see different trading opportunities.

Technical studies such as moving averages can also be quickly added to the mobile charts to help traders identify trading opportunities and monitor existing positions. The mobile app offers n🦋early 100 different technical indicators but lacks the indicator wizard available in the desktop version.

One disadvantage to the mobile app relative to oཧther providers is the lack of price alerts or news feeds. Other servicꦇe providers make these options available which can help enhance the trading experience.

Commissions and Fees

Relative to other brokers, 24Option’s fee structure is relatively high. For example, there does not appear to be any meaningful discounts for larger volumes traded despite offering four different a𝕴ccount types. But there are high fees for dormant accounts that can run to as much as €200 per month after six months. The broker also charges a monthly maintenance fee of €10. Finally, withdrawal fees of around 3.5% apply after the first withdrawal. On the bright side, there are no🔯 deposit, commission or financing fees. The minimum amount required to open an account is €100.

What You Need to Know

24Option's high fees and the lack of published information about the company should throw up red flags. But the quality of its educational offerings and its helpful customer support will be useful for new traders. And the firm's high fees will provide a different, costly kind of education on doing due diligence before picking a broker.