24Option Review

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    Accepted Countries 24Option were created in In the past, the main product offered has been binary options. But 24Option has recently begun to offer CFD trading and forex in a bid to rival the more established brokers in the sector.

    Definition Contract for Difference CFD A Contract for Difference is a well-known type of financial derivative instrument, much like indices, commodities, currencies,etc. Margin The margin refers to the minimum deposit required. Initial Margin The initial amount required in order to open the position.

    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 Binary option 24 option reviews.

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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 been integrated into the platform.

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    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.

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    The traditional platform is easier to use. Traders can of course, perform research on one platform, and trade on the other.

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    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.

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    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.

    • Minimum trade — From 0.
    • Attention: 24option has announced that the company will shut down soon!
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    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.

    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.

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    Instruments Currently, the firm has a wide selection of underlying assets for their clients to choose from. 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.

    User Reviews Review 24Option began its journey in the now-defunct binary options market. Briefly, the binary options market was notorious for fraud and scams, which prompted global regulators to clamp down on the marketing of binary options. Regulators voided operating licenses, and eventually put an end to this dubious sector.

    Traders can reach the support team through email, live chat or the telephone.