24Option Review 2020 – 24Option South Africa is one of the leading and award winning online brokers in the world. For the past 5 years, the broker has been providing traders in South Africa with the best trading software for mobile, tablet and desktop. 24Option is based in Limassol, Cyprus, and has been operating since 2010. In December 2016, the broker enlarged their services to incorporate trading in forex, CFDs, commodities, stocks and indexes.
24Option is owned by Rodeler restricted, which is regulated in Cyprus by the Cyprus Securities and Exchange Commission or CySEC beneath the CIF registration number 207/13.
The company offers its services on across border basis to EU member states, which allow the supply of its services in their jurisdictions. Because of the company’s regulative obligations, consumer funds are safeguarded by being deposited in quarantined bank accounts. 24Option is not available in the United States of America; therefore, it doesn’t accept traders from the US.
Types of accounts offered by 24Option
24Option offers different types of trading accounts to traders in South Africa. Trading accounts include Standard, Silver, Gold, Platinum and VIP account. All these trading accounts are different and require different deposit amount and trading features.
- Basic – 24Option Basic account requires a minimum deposit of $250, €250, or £250
- Gold – Minimum deposit is EUR/GBP 5,000
- Platinum – minimum deposit is EUR/GBP 10,000
- VIP – minimum deposit for 24Option VIP Account is EUR/GBP 50,000
Types of trading services offered by 24Option
24Option offers traders a large varies of underlying assets fastidiously designated to accommodate traders from round the world. The list includes CFDs on equity indexes from the world’s biggest economies, as well as the stock index Industrials, NASDAQ, DAX, FTSE, MICEX and TADAWUL. CFDs also are offered on famous U.S. technology stocks like Google, Facebook and Apple, yet as on the stocks of the most important banks in Europe and Russia, like Barclays, Deutsche Bank and Sberbank.
The company’s recently added a forex and CFD brokerage service, giving up to 400:1 leverage for forex trades, though restrictions apply on commerce some currency pairs. 24Option offers trading altogether major and minor currency pairs that embrace key currencies from nations around the world, just like the EUR, USD, JPY, GBP, AUD and CHF, yet as exotic currency pairs. Traders with 24Option have the power to trade via its proprietary platform, additionally to MetaTrader4 and on mobile devices mistreatment the Android and iOS operational systems.
Just like forex brokers, the company doesn’t charge its customers commission, relying instead on widening a currency pair’s dealer unfold to compensate themselves. 24Option offers quite competitive dealer spreads that rely on the customer’s account sort.
24Option South Africa trading platform and apps
Web & Desktop Trading Platforms
24Option offers two types of trading platforms
- The 24option Proprietary Platform: This platform is web-based so doesn’t need the dealer to transfer any package. It runs on all in operation systems and on each device that features an applications programme. It’s an easy and intuitive platform. Its black background and alternative colours provides it the distinctive and characteristic look that the 24option complete has been far-famed by.
- The MT4 Desktop Application: this is often the noted MT4 that’s wide accepted by forex traders globally. It’s downloadable from 24option’s website.
Mobile Trading Platforms
The “24 CFDs and FX Trading” app is 24option’s proprietary mobile app. it’s developed for the iOS and automaton devices and can be downloaded from their various stores. The app is extremely easy to navigate and is easy. It’s obtainable in twelve languages.
Here are a number of the options of the mobile app:
- Order placement, Stop Loss, Take Profit, and order history.
- Full access to account management choices, as well as fund transfers, deposits and withdrawals
- Charts for technical analysis
Payment and withdrawals
24Option in South Africa has created straightforward payment and withdrawal methods for traders deposit with them. Before creating any deposits, traders are required to send 24Option proof of address, copy of their ID and Mastercard copy so as to verify identification.
One of the most popular payment methods is e-wallets. With 24Option, you can also make deposits and withdrawals through Skrill Moneybookers and Neteller.
Other deposit choices can be made through debit/credit cards (Visa, Visa Electron, Mastercard, Dankort, JCB, Discover Card, Laser, Cartasi, Diners Club and Liberty Rose) and transfer via bank wire.
Withdrawals sometimes last up to five business days and lowest quantity to withdraw is $250. Traders must always remember that the currency chosen once depositing needs to stay constant throughout withdrawal process.
24Option is one of the well-established and controlled forex and CFD and commodities broker with an in depth array of tradable underlying assets and a singular, secure, state of the art trading platform. The corporate offers telephone support in twelve countries, and its trading platform has been translated into thirteen languages.
In addition to giving traders, the client service personnel is courteous and skilled, though they appear rather slow to answer their live chat service.
The company’s trading platform has associate degree intuitive interface. Also, the broker offers novice traders an in depth programme. All the same, the company doesn’t extend its services to traders in the US. 24Option demo account is also available for practice and free.