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24option Broker Review 2016

  • Min. Deposit $250
  • Min. Invest $24
  • Return 88%

24option is among established binary options brokers which has a long on-line presence and satisfied traders around the world. 

In this 24option broker review, we will provide South African traders with more detailed information on how to use this trading platform with a goal to maximise profit and slowly become an experienced binary options trader. 

Online since 2010, 24option has slowly but surely built up their reputation as a quality binary broker which has a wide selection of underlying assets, trade options and trading tools and features for their registered traders.

24option is a regulated broker which further fortifies their quality. 

Further in our 24option broker review, we will try to deliver helpful information to traders looking for a quality binary broker for a successful trading experience.

Bonuses are no longer available with 24option binary broker!

24option Trading Platform

Our 24option broker review found that this popular binary broker made a transition from using TechFinancial trading platform to their own in-house trading software. This means that 24option now has a high-tech proprietary platform which uses MetaTrader 4.

This change means that traders can monitor the market more closely and that can have a powerful impact on their trading decisions. 

This welcomed change also means that 24option was able to diversify their offer and South Africans are now in a position to not only trade binary options but Forex and CFDs as well.

This proves a high level of dedication that 24option show to their registered traders as this immediately increases the quality of their service.

Interested South African traders should know that the minimum deposit with 24option is set to $250.

Predictably, their minimum investment per trade is set at $24 and the maximum investment can go as high as $200 000 per trade.

24option Trading Features and Services

The standard binary options trading procedure applies with 24option, so traders need to select the trade option and also, expiry time for a particular underlying asset. Traders may choose between High/Low and Short Term trades. 

Accordingly, available expiry times are 60 s, 2 min, 5 min, 15 min, 30 min, 1 hr, 24 hr+ and End of Month.

Traders are able to select among a variety of different underlying assets, which include trading with currencies, commodities, stocks and indices. Trading hours are set from Mondays to Fridays; 5 a.m. – 10 p.m.

For this 24option broker review, we discovered a couple of useful features, that could be very profitable for each trader who wants to join 24option. 24option demo account and ability to trade on the mobile platform are by far among the popular services.

With the mobile application, South Africans can access trading platform from anywhere, which is excellent if traders are always busy.

24option app is compatible with Apple and Android devices, meaning that the mobile app can be found in App Store and Google Play and will work just as effectively on both devices. 

Another service on the 24option platform that will make inexperienced traders in South Africa happy is the possibility to use the demo account.

What is so valuable in the 24option demo?

The fact that it is possible to practice trading in a risk-free trading environment has many advantages.

By risk-free, we mean that 24option provides virtual money, instead of real money which means that traders get to try out different trade options and strategies in order to see which option suits them the most.

Our 24option broker review revealed that this broker pays great attention to provide their registered traders with an abundance of useful information. Their Education Centre is definitely one of such segments, that has many benefits for interested traders. 

Traders can use a selection of trading materials, including video guides for beginners and pros, blog, FAQ, latest market news and much more.

The ultimate goal is for traders to have a better understanding of the trading platform but also the knowledge to make better trading decisions which may lead to profits. 


24option Trading Account Types 

One of the important aspect with any binary broker are the account types they provide to their traders. In our 24option broker review, we found that they provide five account types.

However, South African traders will be happy to know that this broker also provides the Islamic account for Muslim traders as well as the demo account.

24option Basic Account

What South African traders get with the 24option basic account is a fine collection of useful features like mobile app and Trading Central. There is also the possibility to use fast, one-click trading and MT4 and Web client platforms.

Leverage is 1:2000. In our 24option broker review, we found that traders using this account type have one free withdrawal per month as well as Exotic, Major and Minor spreads.

Customer support service is available 24/7.

24option Silver Account

South Africans who opt to use this account can use the handy mobile trading app as well as the one-click and trading alerts. Further benefits include personal coach, Trading Central and MT4/Web client platforms. With this account, South Africans get 1:2000 leverage.

Our 24option broker review further revealed that traders get to have one withdrawal per month free as well as the opportunity to use Exotic, Major and Minor spreads.

Naturally, traders also have at their disposal 24/7 customer support.

24option Gold Account

With a leverage of up to 1:2000 and first monthly withdrawal free of charge, 24option Gold account presents an attractive possibility for South African traders.

Yet, this is just part of the great features available and which include Exotic spreads (7 pips), Major spreads (2 pips) and Minor spreads (4pips).

We also discovered traders can make use of personal coach and trading, email and SMS alerts. Trading Central as well as MT4/Web client platform are available.

24option Gold account allows traders to use the convenient mobile trading app, fast one-click trading and around the clock customer support service

24option Platinum Account

A wide variety of effective features and services await those South Africans who decide to opt for the Platinum account with 24option. From convenient on-click trading and mobile trading app for busy traders to completely free withdrawals.

Further benefits include Minor, Major and Exotic spreads, Trading Central and live training session.

In our 24option broker review, we also found that holders of the platinum account get to receive SMS, trading and email alerts. Of course, customer support service is on hand 24/7.

Traders can use Web client and MT4 platforms. Leverage is up to 1:2000.

24option Diamond Account

As expected, 24option Diamond account offers the South African traders amazing array of features and trading services. With this account type, free withdrawals are guaranteed as is the constant customer support service.

Traders also have at their disposal a personal coach as well as a live training session. For busy South African traders, there is a mobile trading app and the option to use both MT4 and Web client platforms.

Essentially, South Africans have all the same features as available with the Platinum account with notable difference – customised platform and Juventus tickets.


24option Customer Support Service

As 24option has proved to be an established and popular binary broker, it is clear that they also have an excellent customer support for registered traders in South Africa. 

South African traders should know they can reach 24option broker through several ways such as email [email protected], live chat, web form and phone numbers for numerous countries.

South Africa is one the countries which phone number is listed on the trading platform: + 27 105 008 042.

Our 24option broker review shows that the trading platform is multilingual and includes following languages English, German, Spanish, Russian, French, Italian, Dutch, Swedish, Portuguese, Arabic, Polish and Norwegian. 

24option Banking Info

A safe trading platform is listed as one of the goals for 24option broker. For that reason, they pay attention to ensure traders a smooth deposit and withdrawal process.

With 24option, payment methods available for South African traders include: 

  • Bank wire
  • Debit and credit cards – MasterCard, Visa, Diners Club, JCB, Discover Card and Switch 
  • E wallets – Neteller and OKPAY 

When talking about withdrawals, traders in South Africa should know how they need to submit few documents, due to extra protection against possible fraud. 

These documents include a copy of ID card, proof of address and the copy of credit card (last 4 digits visible). 

Depending on selected payment method, it might take up to 5 business days for funds to arrive on traders’ account.

Also, depending on the selected trading account type withdrawal fee is charged. For Platinum and Diamond account holders the withdrawal is free.

Other account holders get first monthly withdrawal free of charge. Consequent withdrawals are charged with 3,5% for all listed credit/debit card payment methods and e-wallets.

For bank wire, the withdrawal fee is $30.

24option broker review revealed that minimum withdrawal is $10. Traders should keep in mind that selected currency for depositing has to remain the same as for withdrawing funds.

*Investors can lose all their capital.

24option - Review Conclusion

24option Broker Review
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