24option Review South Africa 2020

  • 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 Broker Review

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 Platform Review

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 Minimum Deposit

As a popular choice for a broker broker, 24option is presented for few years now on South African market. They have build up a name for themselves as a trusted trading platform who offers excellent features and tools for traders to use it and earn money in the trading process.

To get started, 24option minimum deposit is required in amount of $250. This is lowest amount available to begin with and to join this platform. Once traders make a deposit, they will get access to trading features. With 24option, it is possible to invest in USD, EUR and GBP.

Traders in South Africa can deposit with different payment methods, such as debit/credit cards bank wire and ewallets. Often used cards are: Mastercard, Visa, Visa Electron and Diners Club, while by far ewallets are great way to deposit with 24option (Skrill Moneybookers, iDeal, CashU, QIWI, Neteller, Delta…)

24option minimum deposit of $250 is very competitive amount is binary industry and that is another reason why they have to make an effort to be the best they can and to continuously work on providing the best trading services to registered traders.

24option Demo Account

Demo accounts are considered as a powerful tool in trading binary options. 24option is one of the best reliable brokers in the industry reviewed by us. Also, demo account is a powerful trading tool which is available on 24option platform. Therefore, it is understandable how come this broker is one of the most popular binary brokers on South African market.

In this paragraph, we will explain how 24option demo account works and who can join and experience benefits of using this account. 24option is intended especially for inexperienced traders with purpose to gain more trading knowledge and be profitable in binary options trading. South African traders can test this platform and see how trading process in fact looks like.

One thing worth mentioning with 24option demo account is that is risk free, meaning that traders don’t have to worry about potential money loss. That is possible since 24option funds demo account with virtual money.

If traders have any questions regarding how to use 24option demo account, they can contact support agent or personal account manager.

The reason why South Africans prefer trading on 24option demo account before real accounts is to practice and learn more tricks on how to be profitable trader in binary options. For this reason, 24option demo account is an excellent example of how to attract traders on the platform and enable them to use a wide range of trading tools.

24option App

In terms of mobile applications in binary industry, 24option app is by far among the best. It is simple to use and has numerous benefits for South African traders who use it.

Mobile versions of trading platform quickly became wanted among binary traders who were looking for fast and mobile way to invest in binary options. 24option app provides just that: security and a selection of advantages that could turn out to be very profitable for traders.

Mobile trading is very popular because enables traders to trade binary options on the go, which is now a way of living. With 24option app, traders can get an easy overview of the platform and can use a variety of features, just as on regular platform.

24option app work on Apple and Android devices and can be downloaded from Google Play and App Store.

South Africans don’t have to worry about available features on 24option app, since it is consisted of same useful elements as on regular trading platform. It is also important to mention that 24option app is multilingual, on 12 languages to be more precise.

24option Investment Platform

How to choose the right platform is yet another of important segments when thinking about online investment, such as binary options trading.

Therefore, it is recommended to read broker reviews to have better understanding of how binary platforms looks and what trading instruments are available.

24option platform is TechFinancials and South Africans shouldn’t have any problems regarding login or trading process itself. This brokers a wide range of trading features and services that can lead to a more profitable trading experience. It is possible to trade within 60 seconds, 2 min, 5 min, 15 min, 30 min, 1 hr, 2 hr and up to one month expiry times.

Also, traders in South Africa can choose to deposit with a variety of underlying assets: 43 stocks, 11 commodities, 30 currencies and 19 indices. It is also important to mention that available services on 24option platform are mobile application and demo account, which are consisted of many benefits for registered traders.

Traders can also benefit of 24option by using different education materials, which can help traders get the most from binary options trading. While reviewing 24option, we noticed how their Education Area is very helpful for traders, who can find information in FAQs, webinars, tutorials and guides (different knowledge level included).


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