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24Option Account Types

24Option Account Types

 

 

 

 

Overall Rating

4.7/5

Rated #190 of
Recommended FX Brokers

💰Minimum Deposit

USD 250

🌐 Regulators

CySec

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

45

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

24Option provides four different account types e.g., Basic Account, Gold Account,  Platinum Account, and VIP Account. Each account type has its own set of conditions for commission, margin call, and leverage, and minimum deposits.

Finding a reputable list of about 24Option account types local or worldwide can be a difficult process, especially finding a complete list from a trustworthy reputable source.

Below is an in-depth account types Review regarding this regulated Forex company, which will assist traders to make an informed decision when it comes to the various Forex trading accounts made available.

 

24Option Overview

24Option is a Cyprus and Belize-based Market Maker broker which has been in operation since 2009. 24Option caters to all types of traders regardless of whether they are beginners or professionals.

Traders have access to a wide variety of financial instruments which can be traded through either MetaTrader 4 or the 24Option proprietary trading platform.

Apart from providing access to global markets, 24Option also offers an array of additional services such as helpful trading tools, market analysis, educational materials, and resources, 24/5 dedicated customer support, and more.

24Option is a well-regulated broker that is committed to providing traders from around the world with some of the best trading conditions and comprehensive trading solutions.

Based in Europe and headquartered in Cyprus and Belize, 24Option is strictly regulated and authorized by the Cyprus Securities and Exchange Commission, or CySEC under the CIF license number 207/13.

In Belize, 24Option is regulated and authorized by the International Financial Services Commission, or IFSC, under the license number IFSC/60/440/TS/18.

24Option falls under the European Securities and Markets Authority, or ESMA, which restricts the maximum leverage that European clients have access to. In addition, there is also a specific margin close-out rule, and restriction on various trading benefits, to only name a few.

 

24Option Account Types

24Option offers traders a choice in four dynamic account types, each with its own trading conditions and benefits. These accounts cater to a variety of traders in fulfilling their trading needs.

Traders have to note that the higher the account type, the more benefits traders will have access to.

 

24Option Account Features

 

Basic Account

When making use of this account, traders can expect some of the following features:

  • A minimum deposit of $250.
  • Leverage up to 1:500.
  • Spreads starting from 2.8 pips EUR/USD, 3.1 pips GBP/USD, 3 pips USD/JPY, and $0.12 on Crude oil.
  • Access to one basic lesson in trading.
  • Access to daily news as well as Trading Central.
  • 2 Daily TC SMS alerts.
  • 100% margin call, and
  • 1 free withdrawal.

 

Gold Account

When making use of this account, traders can expect some of the following features:

  • A minimum deposit of $25,000.
  • Spreads starting from 2.5 pips EUR/USD, 2.8 pips GBP/USD, 2.7 pips USD/JPY, and $0.11 on Crude oil.
  • Access to two basic lessons in trading.
  • Access to 1 monthly webinar
  • Access to daily news as well as Trading Central.
  • 2 Daily TC SMS alerts.
  • 100% margin call, and
  • 1 free monthly withdrawal.

 

Platinum Account

When making use of this account, traders can expect some of the following features:

  • Minimum deposit of $100,000.
  • Spreads starting from 1.9 pips EUR/USD, 2.2 pips GBP/USD, 2.1 pips USD/JPY, and $0.10 on Crude oil.
  • Three advanced trading lessons.
  • Two monthly webinars offered.
  • Access to daily news as well as Trading Central.
  • 4 Daily TC SMS alerts.
  • 100% margin call, and
  • 3 free monthly withdrawals.

 

VIP Account

When making use of this account, traders can expect some of the following features:

  • Spreads starting from 1.4 pips EUR/USD, 1.7 pips GBP/USD, 1.6 pips USD/JPY, and $0.08 on Crude oil.
  • Access to five advanced trading lessons.
  • Five monthly webinars offered.
  • Access to daily news as well as Trading Central.
  • 7 Daily TC SMS alerts.
  • 100% margin call, and
  • No fees or limitations on withdrawals.

 

24Option Demo Account

24Option offers traders the option of opening a Demo Account which can be utilized in various ways, including, but not limited to the following:

  • A practice account for beginner traders who wish to improve their trading skills and experience in a risk-free environment using virtual funds.
  • Traders who are evaluating and comparing brokers who would like to explore 24Option’ trading conditions in a risk-free environment, and
  • Traders who wish to test their trading strategies in a mimicked live trading environment without risking their capital.

Traders have the option of opening a demo account with 24Option. The option can be accessed by selecting ‘sign up on the homepage. This will redirect traders to the InvestMarkets website, through which the demo account is offered.

Traders are then provided with $100,000 in virtual funds and freedom to explore the platform. The interface is easy to navigate and understand, and there are default live quotes visible, with the option to switch between different financial instruments and the ability to ‘favorite’ instruments.

Traders also have the option of using the ‘Platform Introduction’ at the bottom of the interface, which provides tips and a walkthrough of the InvestMarkets platform.

 

Overall Rating

4.7/5

Rated #190 of
Recommended FX Brokers

💰Minimum Deposit

USD 250

🌐 Regulators

CySec

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

45

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

24Option Islamic Account

The purpose of an Islamic Account is that it caters specifically to Muslim traders who strictly follow Sharia law. The law prevents its followers from paying any type of interest, such as overnight fees, which is seen as wasteful or exploitive.

Overnight fees are charged should traders hold positions open for longer after the trading day has concluded and this type of account allows exemption from such fees or interest, should they hold positions open for longer.

24Option does not offer Muslim traders the option of converting any of the live trading accounts offered into an Islamic Account. This means that Muslim traders must ensure that they close all open positions before the trading day concludes.

 

Pros and Cons

✔️ PROS ❌ CONS
Well-regulated UK and US clients not accepted
Segregated client funds Restricted leverage for non-professional traders
ICF member Limited education
Commission-free trading on all accounts Limited trading tools
Trading Central provided Islamic Account option not offered
Webinars offered according to type Fee schedule not transparent
InvestMarkets demo account platform Spreads are not as tight
Demo account offered Market Maker broker

 

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You might also like: 24Option Sign up Bonus

 

24Option at a Glance

Broker’s Name 24Option
Headquartered Cyprus, Belize
Year Founded 2009
Regulating Authorities CySEC, IFSC
Countries not accepted for trade United Kingdom, Belgium, Iran, China, Bosnia, Herzegovina, Israel, France, Japan, Australia, and several others.
Contact Number None – only live chat
E-Mail Address None – only live chat
Islamic Account (Swap Free) No
Demo Account Yes
Institutional Accounts No
Managed Accounts No
Maximum Leverage 1:500
Minimum Deposit $250
Deposit Options
  • Credit/Debit Cards
  • Skrill
  • Qiwi
  • AstroPay
  • Perfect Money
  • PaySafe
  • Neteller
  • Help2Pay
  • Bank Wire Transfer, and more.
Withdrawal Options
  • Credit/Debit Cards
  • Skrill
  • Qiwi
  • AstroPay
  • Perfect Money
  • PaySafe
  • Neteller
  • Help2Pay
  • Bank Wire Transfer, and more.
Platform Types MetaTrader 4 and 24Option Trading Platform
OS Compatibility Windows, Linux, MacOS, web browsers, Android, iOS
Tradable Assets
  • Forex
  • Commodities
  • Cryptocurrency
  • Stocks
  • Shares
  • Indices
  • Metals
  • Energies
  • ETFs
  • CFDs
Languages supported on Website English, Spanish, Russian, Portuguese, Arabic
Customer Support Languages Multilingual
Customer Service Hours 24/5

 

 

FAQ’s

 

Trading Environment

 

How many instruments can I trade with 24Option?

You can trade the following financial instruments:

  • Forex
  • Commodities
  • Cryptocurrency
  • Stocks
  • Shares
  • Indices
  • Metals
  • Energies
  • ETFs
  • CFDs

 

Which platforms are supported by 24Option?

MetaTrader 4 and 24Option Trading Platform.

 

Does 24Option offer leverage?

Yes. Traders have access to leverage up to 1:500.

 

What spreads can I expect with 24Option?

You can expect spreads that start from 1.4 pips EUR/USD on the VIP Account.

 

Does 24Option charge commission?

No. 24Option offers commission-free trading on all accounts.

 

Are there additional charges on the Islamic account?

No. 24Option does not offer the option for an Islamic Account on any of the live trading accounts offered.

 

Is 24Option regulated?

Yes. 24Option is regulated by CySEC, IFSC.

 

Is 24Option a recommended forex trading broker for experts and beginners?

Yes. 24Option caters to both beginners and experts.

 

What is the overall rating out of 10 for 24Option?

5/10.

 

Accounts

 

What is the difference between a demo and a live trading account?

A demo account offers the use of virtual funds instead of actual capital. This allows for risk-free trading as well as exploring both the broker’s offer and the trading platform.

A demo account can be used for a variety of reasons including practice trading, testing trading strategies, exploring platforms and offers, and more.

 

Does 24Option offer a demo account?

Yes. The demo account is run through the InvestMarkets trading platform.

 

For how long is the demo account valid?

Demo accounts are generally available for 30 days.

 

Does 24Option offer the option of an Islamic Account?

No. 24Option does not offer the option for converting any of the live trading accounts into an Islamic Account.

 

Which live trading accounts does 24Option offer?

  • Basic Account
  • Gold Account
  • Platinum Account
  • VIP Account

 

What are the available deposit currencies for a live trading account?

  • EUR
  • GBP
  • JPY
  • RUB

 

Deposits and Withdrawals

 

What is the minimum deposit for 24Option?

$250.

 

How do I make a deposit and withdrawal with 24Option?

  • Credit/Debit Cards
  • Skrill
  • Qiwi
  • AstroPay
  • Perfect Money
  • PaySafe
  • Neteller
  • Help2Pay
  • Bank Wire Transfer, and more.

 

Does 24Option charge withdrawal fees?

No. 24Option indicates that withdrawal fees are charged. However, the trader’s payment provider may waive transaction fees. Traders must confirm the possibility of such charges before requesting a withdrawal.

 

How long does it take to make a withdrawal?

This will depend on the payment method used. Payments can reflect instantaneously or take up to several days.

 

 

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

Table of Contents

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