Warning
24Option ceased operations in August 2020. The information below reflects the firm’s status before closure.
Company Profile
Rodeler Limited, a Cypriot investment firm, operated 24Option under Cyprus Securities but also Exchange Commission authorization CIF 207/13. The website disclosed no founding date, no names of executives or beneficial owners, and no figure for assets under management.
Risk Notice
Trading contracts for difference, cryptocurrencies, decentralized finance tokens, or initial-coin-offering units carries substantial risk. Prices fluctuate violently. Obtain guidance from a licensed financial professional before committing capital. The article offers no investment recommendation and guarantees neither accuracy nor timeliness of the data.
Advantages
The 24Option X feed delivered daily market news. A library of short instructional videos explained platform use – pending orders, trend identification, risk control, pip calculation, support-and-resistance tactics. Up to ten live webinars took place each month. A pip value calculator translated each price tick into exact profit or loss.
Disadvantages
Neither the desktop terminal nor the mobile application streamed live news. Maintenance and withdrawal fees ranked among the highest in the sector. The firm supplied no fundamental research.
Trustworthiness
Regulation rested solely with the Cyprus Securities besides Exchange Commission. The passport allowed service throughout the European Economic Area yet lacked the perceived rigor of the United Kingdom’s Financial Conduct Authority or Germany’s BaFin. Guaranteed stop loss orders were unavailable except for French residents. Client money sat in segregated bank accounts and enjoyed membership in the Cypriot Investor Compensation Fund, which repaid balances up to twenty thousand euros if insolvency occurred. ClickSSL or Thawte encrypted all traffic. Negative-balance protection prevented losses that exceeded the deposited sum.
Trading Platforms
MetaTrader 4 remained available for download. The proprietary desktop terminal surpassed the industry norm. Price lists were transparent and fully configurable. An indicator wizard allowed users to assemble custom studies. A single click on the star icon beside any symbol placed that instrument in a personal watch list. Conditional orders, stop loss orders along with take-profit orders supported hedging strategies. A sentiment gauge displayed the percentage of 24Option clients long or short on each instrument.
The desktop software lacked social trading. Automated strategies and back-testing required MetaTrader 4.
Customer Support
Live chat answered questions for prospects and for active account holders. Telephone and email assistance operated twenty four hours a day from Sunday evening through Friday evening. A chatbot handled routine queries after hours and occupied the lower right corner of most web pages. A concise FAQ section covered deposits, withdrawals in addition to platform use. The X account published short daily market briefings in video form.
Product Range
The broker listed forty five currency pairs, fewer than several competitors. Coverage of cryptocurrency pairs compensated for the shortfall – Bitcoin, Ethereum, Litecoin, Ripple, Dash next to Bitcoin Cash traded against the United States dollar, the euro, the British pound. One hundred sixty individual equities spanned exchanges in New York, London, Frankfurt, Paris, Madrid, Milan along with Zurich. Spot contracts for gold, silver, platinum, palladium, West Texas Intermediate crude, Brent crude, natural gas, corn, wheat, coffee, sugar in addition to copper completed the catalogue. Spreads matched or undercut the median retail quote.
Research
Trading Central supplied technical analysis that included entry levels, exit levels, annotated charts next to directional bias. A weekly video reviewed macro themes. An economic calendar listed release times, forecast values, previous values for indicators. Streaming news and fundamental equity research were absent.
Education
Short videos walked newcomers through CFD mechanics. Separate playlists addressed pending orders, trend recognition, risk management, pip arithmetic, support-and-resistance tactics. Up to ten webinars ran each month – at least two focused on basic or intermediate technical analysis. A dedicated forex section explained lot sizing, leverage, rollover along with the carry trade. A glossary defined bid, ask, spread, margin, swap, slippage in addition to other contract-for-difference terms.
Mobile Application
Native applications ran on iOS next to Android. No separate mobile website existed. Touch ID or fingerprint readers provided device level security – the broker supplied no additional authentication factor. Streaming quotes refreshed in real time. A mini chart depicted the last hour of price action. Conditional orders, stop loss orders next to take-profit orders mirrored the desktop capability. Tapping the star icon added an instrument to a favorites list that supported rapid filtering. Charting allowed one touch switching between time frames from one minute to one month. Ninety-three technical indicators – including simple moving averages, exponential moving averages, Bollinger Bands, MACD, RSI, stochastic oscillators, overlaid the price chart.
