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- During 24Option amended their offering.
- You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Accepted Countries 24Option were created in In the past, the main product offered site 24 option been trending strategies for binary options options.
But 24Option has recently begun to offer CFD trading and forex in a bid to rival the more established brokers in the sector.
The similarities between the products meant 24option were able to build their own bespoke trading platform, and add new functionality for CFD and forex trades. Binaries have now been removed completely. Trading Platforms In terms of the trading platform used by 24Option, the broker previously used the binary options trading platform that was powered by TechFinancials.
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However in their bid to extend their product offering, 24Option now uses a proprietary platform with the same login details called Scipio to provide CFDs and forex trading services. MetaTrader 4 In addition to the Scipio trading platform, 24Option has also integrated the popular MT4 trading platform for traders who wish to trade the spot forex and CFD markets.
The main attraction of the MT4 platform is the advanced trading tools that have site 24 option integrated into the platform.
So traders can use one of two platforms, each provides different strengths.
MT4 is perhaps more complex to use, but includes way more analysis tools and also automation options. The traditional platform is easier to use. Traders can of course, perform research on one platform, and trade on the other.
Login details remain the same for both. The app delivers all of the functionality of the main website, including many account management features. The app takes advantage of the strengths of each platform android or iOS in order to maximise the functionality on every device.
Using the app is slick and intuitive. The login process is quick but secure.
Technical analysis becomes hard on smaller screens, but trading and amending details are straightforward and a real bonus for traders who need to react to events while they are away from their computer or laptop. Trading Accounts Offered There are 4 different types of trading accounts available at 24Option for you to choose from.
Each level of account offers slightly better terms, including more lessons and tighter spreads. Their regulatory history suggests that they are a responsible company.
Fees: 0. 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. Pros Traders can access daily financial news on the 24Option twitter feed 24Option has a range of educational videos, they also offer as many as 10 live webinars per month A pip value calculator that shows exactly what your profit or loss will be with each pip move Cons The desktop and mobile platforms do not offer live streaming news 24Option has high maintenance and withdrawal site 24 option No fundamental research Trust 2. One major negative is that the broker is only regulated in Cyprus. This still falls under the EU regulatory regime but may not be as robust as other more developed regulatory regimes like the UK or Germany.
The move away from the binary sector was designed to maintain their reputation. In terms of regulatory oversight, 24Option is regulated under 2 regulatory agencies.
For operations outside of Europe, 24option comes under the jurisdiction of the International Financial Services Commission of Belize. Instruments Currently, the firm has a wide selection of underlying assets for their clients to choose from.
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In total, there are more than different types of underlying assets. The selection comes 4 main asset classes mainly currencies 34 pairscommodities 11 typesmarket indices 25 indices and stocks 61 companies. Traders can reach the support team through email, live chat or the telephone.