24Option was founded in 2009 and the company is owned by Rodeler Ltd.
24Option is regulated by CySEC securities, which eradicates any misconceptions of the online trading platform to be a scam.
24Option is definitely an authentic site and not a scam for trading in the Forex market but is it efficient as well?
Trading in Forex and CFDs
Four types of trading instruments are offered by 24Option. They are Short term or 60 seconds, Max Profit, 100% payout and High/Low. Trading in the binary options and CFD market is a risky business. You can either gain significant profit on your investment instantly or you can lose all of your invested capital.
100% payout option
This option is available on certain assets. The trading instrument gives you the opportunity to double your money by receiving a 100% return on your investment.
High/Low trading option
It is a traditional trading instrument. Users decide whether the price of an option will close above or below the opening price. Users make a profit on correctly guessing the movement of the markets.
With the risk of trading in binary options and CFDs in mind it is favourable that online trading brokers provide demo accounts to the users. A demo account is particularly helpful for novice users without any prior experience of trading in financial markets. With the help of a demo account they can familiarise themselves with the technical aspects of market and software without risking their entire investment.
24Option is a preferred option in this regard.
Unlike many other binary option and Forex trading platforms they offer demo accounts to its users. However, a demo account is offered under certain conditions. To gain access to the account you have to deposit a minimum amount of $250 into your account.
To further minimise the risk for losses, 24Option also gives an option of closing or cancelling a trade before the official expiry time. However the option is available for certain trade options and you are not refunded your entire transaction amount. But the instrument is still useful under conditions where can predict huge losses.
In addition to that, 24Option has put a limit to open trading options. At any point in time you can own $75,000 worth of open options. The value is subject to change based on different currencies.
24Option provides a wide range of tradeable assets. Furthermore, the users can also trade on weekends. However the trade on weekend is limited to certain specific assets.
Design and software layout
The design of the website and trading software both are minimalistic and simple. It is easily navigable by the users. In addition to that there customer support services are excellent. They provide quick and instant customer support via live chat in 16 different languages. Apart from chat the option for email and call support is also available.
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