24Option Experience & User Review
What we liked about 24Option
24Option shines when it comes down to cryptocurrencies. They offer more than 9 Crypto’s – EUR and GBP is also an available trading pair. For some commodities like oil the spread is really low and even reaches 0.01 spread. This is the same spread which is available for most future oil contracts.
What we disliked about 24Option
24Option’s Spreads are often above average and most heavy traders would probably find a better broker. We have had some messages which told us that 24Option has made some unwanted telephone calls, offering trading news and updates on the current market situation without explicit request.
BrokerCheck Review of 24Option
24Option has a different account model strategy than most other brokers and offers a single account type model. 24option’s website may not offer the most exciting user experience, but it is worth a second look. On the website you can log in or view the Webtrader without registering and find out all prices/spreads in live trading. This gives you a direct insight into the cost structure of 24option.
24option has (admittedly) an exceptional cost structure. On the one hand, certain underlyings are significantly more expensive than the average, while others are exceptionally cheap. Forex and index trading with 24 options is rather overpriced, but crypto currencies and oil (with only 0.01 spread) is very cheap. For comparison: An oil future has the same spread and is additionally charging commissions. The offered software consists of the all-rounder Metatrader 4 and a Webtrader. Learning materials & webinars are also available free of charge.
In summary, we would not recommend 24option as an all-rounder for every situation, but for traders who are particularly interested in crypto currencies or commodities
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84.94% of retail investor accounts lose money when trading CFDs with this Broker.