On June 1st 2020, CySEC suspended the license of the parent company of 24Option.
24Option was once a very popular broker, but now that they lost their license, they are barely heard of. Read official announcement at CySEC website.
For complaints and withdrawal problems, read this.
They offer investors the ability to trade on many assets types including; Forex and Crypto Currency CFD’s. Our review of the brokers 24Option shows, that they offer the clients what is called the Scipio Trading Platform. Investors also have access to popular online trading platform MetaTrader4 (MT4).
You will see that they have all major currency pairs available, and you will find both full size and mini CFD’s on popular Crypto Currency pairs. Bitcoin, Ethereum, Litecoin and Dash, and listed with spreads on Bitcoin currently at $36. Margin trading or leverage is limited to 30:1, for retail investors in the European Union.
One of the reasons that 24Option is such a popular Forex broker, is because of the many ways you can fund your account. International traders have the option to fund their trading account with; Neteller, OKPay, JCB, Switch, Skrill, Perfect Money and more. The minimum deposit for a new trading account is $250. You should start with a practice trading account, which is available here.
Is 24Option a Legitimate Broker?
The way that we review of Forex broker, to see if they are a legal company or a scam, is very simple. We check to see that they are licensed and regulated by a respected government regulator. Many investors do not realize that all brokers must have be licensed and regulated, in order to legally operate.
- Europe: Owned by Rodeler Ltd, they
arewere regulated by the CySEC under license number 207/13, since July 11th 2013. They are also registered with BaFin in Germany, and the FCA in United Kingdom. On December 23rd 2019, CONSOB Italy banned this broker from accepting clients in Italy.
- South Africa: Smarttool SA Proprietary Limited (Smarttool SA), is an authorized Financial Service Provider, regulated by the Financial Sector Conduct Authority (FSCA) of South Africa. Their FSB license number is 48296.
- International: Richfield Capital Limited is regulated by the IFSC in Belize, license number IFSC/60/440/TS/17.
When choosing a CFD Forex broker it is always important to check the list of licensed brokers here, to see if your broker is licensed by a government regulatory agency.
Broker Contact Details
24Option is owned by Rodeler Ltd, which is located at: 39 Kolonakiou Street, Ayios Athanasios, Limassol, Cyprus. Contact phone number in South Africa is: +27 10 500 8042 and in the United Kingdom: +44 161 960 0200.
Customer service email address is: [email protected]. Official brokers website is: https://24Option.com.
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