24option CFD Platform Review
While there are various brokers who offer CFD trading, one of the top brokers seems to be 24 Option.
I am going to review CFD trading with 24 Option so you will have enough information to decide if this broker is your best choice in trading CFDs.
If you are unsure what CFDs are, they stand for Contract For Difference. They are becoming a popular trading format as you can leverage larger trades with less money deposited.
Now it is important that you know that CFD trading carries risk. You have the potential for large profits but it is also possible to lose more than your deposit amount.
CFD trading is somewhat similar to binary options except you have no expiry times. You can jump in or out when the time is right for you.
About 24 Option CFDs
24 Option offers a huge range of CFD assets you can trade on:
- and Commodities
There are around 150 various assets and the 24 Option platform is easy to navigate in trading CFDs. You can do so through the MT4 downloadable format or by using the 24 Option app directly online.
What is so great about the CFD trading at 24 Option is the 1 to 400 leverage (with some restrictions). To explain that better, for every $1 you can trade with, you can get up to $400 in trading leverage.
That can create much higher profit potential, but it can also be an aggregate of larger losses over your deposit amount.
24 Option does provide up to the minute charts showing current asset prices.
What’s more, 24 Option is CySEC licensed and regulated to ensure you are trading in a safe zone.
The system recognizes over 20 various languages. You have the advantage of around 30 different technical indicators and you get technical charting and an economic calendar.
Traders have a wide array of methods to deposit into a 24 Option account. They include:
- Credit and debit cards
- Bank wire
- and many others
24 Option CFD Trading History
24 Option was founded in 2009 and is owned and operated by Rodeler LTD who is located in Cyprus.
Originally, 24 Option was a broker for binary options but in 2016, the brokerage firm expanded their system to allow trading in Forex and CFDs.
The MetaTrader 4 platform for CFD trading is what is setting 24 Option apart from the rest. Not only that, many traders say that the 24 Option mobile trading platform is second to none.
24 Option Withdrawal Terms & Conditions
24 Option has a great reputation on withdrawal processing. Minimum withdrawals are quite low ($10) but there are withdrawal fees unless you have a platinum or diamond (VIP) account.
Withdrawals are processed quickly as long as you have sent in the required paperwork to comply with anti-money laundering regulations. Those would include:
- A copy of your government issued photo ID.
- A recent electric, phone or water bill in your name with your address.
- A copy of the credit card used to deposit with all but the last 4 numbers blacked out.
Some withdrawals are processed within 24 hours as long as all conditions are met.
24 Option CFD Demo Account
24 Option does want to help you be successful at CFD trading.
When you open an account with 24 Option, you will be provided a dedicated account manager. You can simply ask that person to set you up with a CFD trading demo account and they will happily oblige you.
By using a demo account, you can get a good trading method or strategy down that fits your style.
24 Option Mobile App Review
Knowing that many people are using their smartphones or tablets, 24 Option integrated their trading system into a mobile friendly application.
Many traders are extremely satisfied with the mobile trading platform. It is available on the Google Playstore or the App Store for Apple users.
24 Option Scam Report
While you will find some negative reviews and comments about 24 Option, most are from individuals who were not wise in their trading styles. They lost money and immediately blame the broker.
Nothing leads us to believe that 24 Option is a scam. Being CySEC licensed and regulated shows they follow all financial regulations. 24 Option has one of the best withdrawal systems out of all the brokers I have ever reviewed.
No, 24 Option is not a scam and you are wise to use them as your broker when trading in CFDs.