24Option is one of the most popular binary options brokers. This popularity is based on a number of unique features that you can find with 24Option only. In this 24Option review, we will analyze every aspect of 24Option’s business for its potential to increase your long-term trading success. In detail, we will look at these aspect of 24Option:
- Reason to choose 24Option: What does set 24Option apart from other brokers?
- Review of 24Option: A detailed analysis of 24Option’s features?
- Personality: Which type of trader is right for 24Option?
With this information, you will be able to judge for yourself whether 24Option is the right broker for you and to maximize your profits with 24Option.
Reasons to choose 24Option
Let’s take a look at each of 24Option’s features individually and see how these features can help you to make money.
1. High payouts make earning money simple
At 24Option, you can earn up to 89% on every trade. Your success as a trader largely depends on the payout you get with every winning trade, and getting an 89% payout is the easiest and quickest way to improve your results.
To understand how much of a difference high payouts make, assume that a trader makes 5 trades a day and trades 20 days a month. If this trader would increase their payout by only 1 percent, this difference would accumulate with the power of compound interest and, over time, make a huge difference.
- Over the time of one month, an increase in payout of 1 percent would accumulate to an added profit of 270.48 percent your original investment. If you invested $10 on your first trade, this would equal $27.04.
- Over the time of three months, an increase in payout of 1 percent would accumulate to an added profit of 1,978.84 percent your original investment. If you invested $10 on your first trade, this would equal $197.88.
- Over the time of six months, an increase in payout of 1 percent would accumulate to an added profit of 39,158.33 percent your original investment. If you invested $10 on your first trade, this would equal $3,915.83.
With 24Option, you end up on the better side of this example. You can maximize your profits without having to improve your trading or changing your strategy – the dream of any binary options trader.
2. Real market price, no fees or commissions
One of the significant security features of 24Option is their pricing system. While many other platforms use their own version of the market price, 24Option uses a direct feed from Morningstar to power their system so you can be assured that the price on their platform is the actual market price.
Some brokers try to make money by offering their customers the ask/bid price, depending on which price is worse for their prediction. The ask price is a little higher than the bid price because it defines the price a stock broker asks from you if you want to buy a stock, and the bid price defines the price the broker is willing to pay if you sell the stock. By employing this spread, brokers for conventional assets make money.
Some brokers apply the same system to binary options. They use the ask price for low options and the bid price for high options, which tilts the odds in their favor.
3. Higher limits = higher profits
24Option offers it traders the industry’s highest limits of $200,000 per trade so you can earn maximum profits in minimum time. With other brokers, these limits are significantly lower, often only a fraction of what you can invest with 24Option.
High limits are an invaluable advantage for traders looking to invest more money. Traders with a bigger account and traders who are willing to take more risk can use these limits to trade the strategies that suit their character. For risk-averse traders or traders with less money, the bigger limit leaves them with enough room to expand their investment once their bankroll improves.
Either way, having the additional potential can only help you, never hurt you.
..that you can trade automatically with this broker by using the 100% free robot: BinaryOptionRobot?
4. Trade wherever, whenever
24Option offers a mobile application that you can use to trade wherever you are: at work, at home, or on vacation. The application works with your iPhone, Android, iPad, Blackberry, Nokia, or any other mobile device.
The 24Option app provides you with a state of the art trading environment. With a few clicks, you can make any investment, analyze the market, and swipe through assets from all categories. The handling is intuitive and easy, which is an area where a lot of competitors are lacking.
Compared to apps from other brokers, the 24Option app seems like a grown-up version. Other brokers use a lot of color and many graphic elements, which looks nice but can make trading confusing. 24Option, on the other hand, relies on an elegant black and silver design that puts clear visibility and easy usability first, which makes trading a lot easier and more comfortable.
The 24Option trading app is ideal for traders who want to trade on the go. If you ride the subway to work, are stuck in traffic often, or are used to waiting for your girlfriend, the 24Option can be the right tool for you to use your waiting time to make money.
5. Video center
If you are still looking to improve your trading knowledge, 24Option might have the right tool for you. In their video library, 24Option offers hours of videos on binary options from trading tips to portfolio management strategies and a tour of the 24Option platform.
This type of education platform is rare among binary options brokers. While most brokers offer some form of education tool, many of these tools are advertising gadgets that provide little helpful content. With 24Option, things are different. You get first-class videos that explain everything new brokers need to know and that can help experienced traders maximize their profits.
Since successful binary options trading necessarily involves a commitment to constant improvement.
6. Government oversight keeps your money safe
Safety is an issue with any online business that involves money. 24Option has done the one thing that can eliminate all of your safety concerns convincingly: they have accepted government regulation and oversight.
24Option is regulated by the Cyprian Securities and Exchange Commission (CySEC), which enforces the European Union’s thorough banking legislation and makes sure that 24Option compliers with the same rigorous standards as Europe’s big banks, for example the Deutsche Bank or ING.
This government regulation has two main advantages:
- You know that there is no illegal business at 24Option. With the European Union monitoring every aspect of 24Option’s business, you know that there is no illegal business going on and that you are dealing with a legitimate, trustworthy broker.
- Additional requirements keep your money safe. The EU regulations force 24Option to comply with certain security standards that unregulated brokers can ignore. Most prominently, 24Option is required to keep enough money in a separate account to buy out all of its customers in case the company should go bankrupt. With an unregulated broker, your money would be gone in this case, which is why 24Option provides you with a great deal of additional security.
These advantages come at no additional cost to you. Consequently, 24Option’s government regulation is a huge advantage for any trader.
Review of 24Option
24Option is the industry’s leading binary options platform. One of the main goals of 24Option is to give its traders the tools and strategies that they need to succeed. This goal has been achieved by offering everything from an array of tradable options to the most profitable assets in the market.
24Option has built a platform designed to educate its traders so that they can profit more effectively and with confidence. Whether you trade using the High/Low option or 24Option’s new 60 and 30 second options you can earn maximum amount of profits in minimal time.
Why are binary options so profitable? Binary options are profitable because you aren’t purchasing the asset; rather you are investing in your prediction about that asset’s market price. So you can invest as much or as little as you would like, you control your risk. Binary options are also popular because you know exactly how much you can earn before you invest, so there are no hidden surprises.
24Option’s limits of $200k per trade mean that as a trader, you can earn more in less time. Just remember to stick to your money management and not invest more than you can afford.
The minimum deposit of $250 allows you to open an account with very little cash, which is a great feature for new binary option traders.
With up to 89% payout on every trade you can start earning more with binary options from your very first trade. The broker’s diverse folder of assets means that you can invest on an asset that you know and understand and use your knowledge to earn with binary options.
24Option’s trading platform offers up-to-date technology so that every price quoted, every trade executed, and every profit earned in one of the most secure platforms on the web. With real-time market data, you can be sure that your asset’s market price is accurate to the second. While other platforms might try and hide the market price, 24Option uses real-time data to ensure that your trade is as transparent as possible.
24Option offers an array of assets such as Apple or Google, NASDAQ or oil. You can trade currencies, commodities, stocks, and indices.
While many platforms try to wow you with high payouts and low limits, 24Option gives you the option to truly profit from binary options. Their advanced platform combined with their high limits and high returns means you can succeed in your binary options career with this broker.
Personality: Which traders should sign up with 24Option?
Due to the broker’s unique characteristics, the broker offers specific types of traders the ideal conditions. Let’s take a look at which types of traders can use 24Option to make more money, and which do not.
Trader type that should sign up with 24Option #1: Risk-averse traders
24Option does the thing that will have risk-averse traders smiling – they offer all of their option types in a low-risk version. These low-risk version offer lower payouts but allow you to win a higher percentage of your trades, which reduces the chances of suffering a long losing streak and ending up broke.
Risk-averse traders love this type of system because it allows them to control their risk. Your next winning trade is never far away, which allows you to execute low-risk strategies and make money the slow-and-steady way.
Additionally, the broker has the rigorous security features that make risk-averse traders happy. With government regulation, SSL encryption, and a thorough validation process before every withdrawal that guarantees that nobody steals your money, you can be completely sure that your money is just as safe as if it would be in Fort Knox.
If this sounds like the ideal trading style for you, we suggest you give 24Option a try.
Trader type that should sign up with 24Option #2: Risk lovers
Since 24Option also offers all of its option types as high-risk/high-reward option types, it provides unique possibilities to risk-lovers, too.
For example, most brokers offer high / low options as a low-risk version only. This means, you will win about 70 percent of your trades and get payouts of around 75 percent – not bad, but boring.
24Option is one of only a handful of brokers that offers high / low options in a risky alternative. With the broker’s high-yield high / low options, you will win less than 70 percent of your trades, but you can get payouts of up to 360 percent and expect average payouts of around 300 percent. With these payouts, you would be able to turn a profit if you won only one third of your trades.
This is the ideal setup for traders who like to take risks. A trading strategy based on high-yield assets will be a thrilling roller coaster ride that allows you to make a lot of money by taking big risks. If this is the way you want to trade, 24Option is the ideal broker for you.
Trader type that should sign up with 24Option #3: Traders that like versatility
With 24Option full selection of binary option types, you get one of the most versatile selection of binary options types in the business. This versatility is ideal for traders who like to trade every market situation with the tool that is individually perfect for it.
With the broker, you can, for example, invest in low-yield high / low options if you expect a small movement and in high-yield high / low options if you expect a strong movement. If you execute the strategy well, you can maintain the same winning percentage as if you were trading only low-yield options but profit from the significantly higher payouts of high yield option.
24Option offers the ideal trading environment for traders that like to take risk, risk-averse traders, and traders that want to trade diverse tools. In combination with their first-class security features and classy, easy-to-handle trading platform, 24Option offers a convincing service that can help most traders to improve their returns.