24option Closing Down | 2020

It was recently announced that 24option will shut down soon! The company behind this once very popular online broker has revealed that it has initiated the procedure for renouncing its license. In addition, it will terminate all relationships with its clients on August 20th, 2020, so after that date no further trading will be possible on this platform. If you are a client and have a trading account on this website, you are probably wondering how this will all play out for you. Don’t worry, we have all the answers and all you have to do is read on.

How will 24option shutting down affect traders?

According to the announcement by Rodeler Ltd, the company running 24option, they are not accepting new clients and new accounts anymore. Traders who already have an account will be notified by e-mail of the procedure they need to go through before August 20. In a nutshell, they will have to close all of their open positions. If they don’t do that, their positions will be closed by the company.

At this point you must be wondering what will happen with your money when 24option shuts down. Well, the good news is that you can expect the funds to be remitted to you to the account of your choice. Should you fail to notify the broker regarding the account you want your funds to arrive to, they will simply be sent to the account you first used to deposit. Therefore, even if 24option is closed and you do nothing, you should get your money back.

What’s the best 24option alternative?

Once 24option closes up shop, many people are bound to look for an alternative. One name comes to mind immediately, and that is IQ Option. This famous online broker has an excellent offer, has been in the industry for years and is showing absolutely no signs of weakening, As a matter of fact, new features are regularly added, and the broker is always on top of the latest trading trends.

It’s hard to argue with the minimum deposit of just 10$, honestly, and the minimum trade of just one single dollar. The withdrawal conditions are also incredibly favorable, plus the number of assets you can trade on their high-tech platform is quite impressive. IQ Option is a leader in the online trading industry for some very good reasons, and it’s really hard to find a better 24option alternative than that. For just a few dollars, you can enjoy quite an exquisite trading experience.

So, after many years, it seems that it’s time to finally say goodbye to 24option. That may come as a surprise to many, but we ourselves have recently been receiving more and more questions about the website’s functionality. Once again, we have to reiterate that according to the company’s plan all clients should get their funds back to their bank accounts. If you’re a 24option trader and don’t know where to turn next, we sincerely recommend IQ Option as your next trading partner. You simply can’t go wrong with them. Check out their offer and sign up today!



Trading Platform

Our regular readers will know that we declared this broker winner of our Best Binary Broker award three years ago in the Best Value category. One of the most important reasons for that and the first thing we want to cover in our 24option review is its excellent trading platform which offers a multitude of business opportunities to all kinds of traders. There are more than 200 different underlying assets like stocks, commodities, currencies and indices for you to choose from and four different trading modes. Each of the trading modes has at least two different subcategories which expand your trading experience significantly.

More knowledgeable traders will recognize this as one of the main features of all TechFinancials-based platforms and this one is no exception. You can, therefore, expect a superb trading experience because this software provider is one of the best in the world. 24option has shown no signs of making any changes to their platform in the near future and we honestly agree with them. Why would you change something that functions perfectly? With that, we can move on to other interesting things this broker has to offer, so stay with us and continue reading our 24option review.


24option.com Trading Platform

24option Review | CFD Trading

But apart from the usual binary options trading, 24option also allows you to trade CFDs (Contracts for difference). This type of trading has recently become very popular in the trading community and the broker was quick to react. For this, they have even introduced a new platform to the website, namely MetaTrader 4, which is widely regarded as one of the best trading platforms in the industry. Traders all around the world love it because it provides you with loads of tools and data you can use. CFD trading doesn’t require you to set an expiration date to your trade and you can close it whenever you want. If you guess the direction correctly, your profit will depend on how much the price has moved in that direction – the bigger the move, the more you win. So if you want a break from the standard binary options trading, 24option can provide you with that, too. Don’t go away yet, though, because our 24option review still has a lot to show you.

24option Review | Minimum Trade

But how much exactly do you need to open a trade here? Well, the 24option minimum trade requirement stands at 24$ for each trade. This seems like a very reasonable amount to put in, and not just because of the symbolic meaning this number has for the broker. Simply, by investing this much, you will get more than a decent payout in the event of a correct prediction (depending on the account type you have, and we will discuss that in just a moment, the payouts go up to 89%). It’s not like you win a dollar or two like in the case of some lower minimum trades, but a nice allowance for each success. Of course, if you want to invest more, you can certainly do that because the amount you can invest in a single trade goes all the way up to 20,000$, but 24$ is a great starting point as a 24option minimum trade – not too high, and the sense of accomplishment when you win is quite palpable. 

24option Review | Mobile App

As is the case with any serious broker, this one also has a way to allow its clients to trade when they’re on the move. 24option mobile app is available for both iOS and Android devices and offers plenty of features that will provide a pleasant trading experience. As a matter of fact, everything you can do on the desktop platform, you can do here too, starting with trading more than 200 different assets, all the way to settting up a huge demo account to test everything thoroughly. Customer support is also available, and the design is very pleasant and helpful when you want to open a trade quickly. Even cryptocurrencies can be traded, and quite a few of them too – Bitcoin, Ethereum, Litecoin, Dash and Ripple are there for your convenience. Not to mention that the app is free, so if you want to trade from a mobile device, 24option mobile app is how you should do it.

24option Review | Account Types

After making an initial deposit ($250 is the minimum amount) using one of the various available methods (cards, Neteller, Skrill – you name it), you’ll be able to choose your account type. Here, too, the broker has taken all types of traders into consideration, as witnessed by the five main account types available in total. They all offer pretty high payouts of up to 88% per successful trades, but if your investment is unsuccessful you will lose your invested capital on this trade. They will also allow you to withdraw your money, upon fully account verification, completely free of all charges once every month. You will also get a very helpful chart with any of them (a tool designed to help you track the market’s movements without any trouble) and basic access to the broker’s Trading Central. All account types, except Basic, also offer a personal account manager to help you on any query you might have. There is even a special Islamic Trading Account for those who want to trade in complete accordance with the rules of Islam, so even those traders are well covered.

24option.com Account Types

Again, we don’t expect things to change much here either, so you can rest assured you’ll always have plenty of possibilities with 24option. Explore these accounts thoroughly, though, because they offer much more than we mention here. Things discussed in this 24option review are only the beginning.

24option Review | Support and Education

Some things, however, are constantly changing in this broker’s offer; or rather they are being improved and upgraded on a regular basis, so we absolutely must mention them in this 24option review. They mostly have to do with 24option Customer Support and educational materials available on the broker’s website. The company is always trying to make the interface more intuitive in order to help you get more useful information. The support team is very well educated and coordinated, so you can count on quick solutions to all your problems. Live chat is also available on the website, but no matter if you’re a trading novice or a seasoned veteran, you can always learn a lot here. There are many videos which will explain everything in simple and understandable terms, and you can even sign up for a webinar to gain some knowledge there. An eBook is also available, so you’re pretty much covered on all fronts and you can expect even more content here in the following year. But there is one more thing we must discuss in this 24option review, so stay with us just a bit more.

24option Education Center

24option.com Education Center

24option Review | Partnerships

No 24option review would be complete without mentioning the fact that this company’s quality and influence have been recognized by many individuals and organizations which are not directly involved in binary options trading. Football giants Juventus FC have entered a partnership agreement with this broker, thus confirming the quality and excellent reputation 24option has in the business world. However, they are not the only ones to do so – Boris Becker, a three-time Wimbledon champion, is also one of the broker’s partners. So don’t be surprised if the list of 24option partners expands in the future, since it is quite obvious that this company has become known as a world-class brokerage among influential organizations and individuals alike. We hope this 24option review has shown why.

24option Review | Conclusion

24option is, without the slightest doubt, a world-class broker, and you can be absolutely sure you will not find a more reliable partner anywhere else. Great and versatile trading platform, numerous and well-equipped account types, competent staff, educational videos and a useful mobile app are just some of the reasons why this brokerage is so successful and popular. There are many more great features to discuss, but we simply didn’t have enough space or time here to analyze them all. Explore the website for yourself and you will find loads of very pleasant surprises. Don’t forget that this broker has also been recognized outside of this industry as a desirable partner and that really says a lot. No other company from the binary options business can say that it has this much contact with subjects who are not connected to the trading industry. So if you’re looking for a great broker, open an account with 24option. You won’t find a better partner on the market!

Author's overall rating:
Author: Mark Watson

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