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24option Forex broker specializes in providing foreign exchange trading services, the company's official website https://www.24option.com/international/, the company's legitimate regulatory information BelizeFSCRetail Forex License, to enhance the security of the company's address No. 5 Cork STreeT, P. O. Box 1708, BELIZE CITY, Belize C.A..

24option Forex Broker

Basic information

Registered region
Hong Kong
Operating period
--
Company Name
Richfield Capital Limited
Abbreviation
24option
Company employee
--
Customer Service Email Address
info@24option.com
Contact number
+52-5541639019
Company address
No. 5 Cork STreeT, P. O. Box 1708, BELIZE CITY, Belize C.A.
Keywords
5-10 years
Suspicious Regulatory License
Suspicious Scope of Business
High potential risk

Company profile

  Note: 24options official site - https://www.24option.com/international/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.

  Risk Warning

  Online spanading involves significant risk, and you may lose all of your invested capital. It is not suispan for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

  General Information & Regulation

Feature
Information
Registered Country/Region Belize
Found 2008
Regulation Suspicious clone
Market Instrument Forex currency pairs, precious metals, commodities, indices, CFDs, etc
Account Type Basic, Gold, Platinum and VIP
Demo Account N/A
Maximum Leverage 1:500
Spread Vary on the account type
Commission N/A
Trading Platform MT4
Minimum Deposit $250
Deposit & Withdrawal Method VISA/MasterCard credit/debit cards, wire transfers, Skrill, and Neteller

  24option, a trading name of Richfield Capital Limited, was previously a binary options broker founded in 2008 and registered in Belize, but now offers Forex and CFD brokerage services.

  As for regulation, 24option holds a suspicious clone Financial Services Commission (FSC) license. That is why its regulatory status on WikiFX is listed as “Suspected Fake Clone” and receives a relatively low score of 1.52/10. Please be aware of the risk.

  Note: The screenshot date is February 8, 2023. WikiFX gives dynamic scores, which will update in real-time based on the broker's dynamics. So the scores taken at the current time do not represent past and future scores.

  Market Instruments

  24option offers investors various financial instruments, including Forex currency pairs, precious metals, commodities, indices, CFDs, etc.

  Account Types

  There are four types of accounts available on the 24option platform: Basic (minimum initial deposit of $250), Gold (minimum initial deposit of $25,000), Platinum (minimum initial deposit of $100,000), and the VIP account(minimum initial deposit of $250,000). In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less.

  Leverage

  Concerning the trading leverage level available, the maximum leverage offered by 24option is up to 1:500. Inexperienced traders are advised not to use a high leverage level as it is risky.

  Spreads

  All spreads with 24option are a floating type and scaled with the accounts offered. Just take the benchmark EUR/USD pair as an example, the spread starts from 2.5 pips on the Basic account, from 2 pips on the Gold account, from 1.6 pips on the Platinum account and 1.1 pips on the VIP account.

  Trading Platform

  24option offers traders several trading platform options: an in-house trading platform, the mobile app, and the MT4 trading platform, which is currently the most popular on the market.

  Deposit & Withdrawal

  24option supports traders to deposit and withdraw funds from their investment accounts via VISA/MasterCard credit/debit cards, wire transfers, Skrill, and Neteller. 24option has a high withdrawal fee of 3.5% for withdrawals via credit/debit card. The wire transfer fee varies by currency and is approximately $30. Neteller charges 3.5% for withdrawals and 2% for withdrawals via Skrill.

  Customer Support

  Customer support at 24option is provided on a 24/7 basis. Traders can reach the support team through email: info@24option.com, live chat or the telephone: +52-5541639019.

  Pros & Cons

Pros Cons
• Multiple tradable assets, account types and funding options • Suspicious clone
• MT4 supported • Website inaccessible
• High minimum deposit requirement ($250)

  Frequently Asked Questions (FAQs)

Q 1: Is 24option regulated?
A 1: No. 24option holds a suspicious clone Financial Services Commission (FSC) license.
Q 2: Does 24option offer the industry-standard MT4 & MT5?
A 2: Yes. 24option supports MT4.
Q 3: What is the minimum deposit for 24option
A 3: The minimum initial deposit to open an account is $250.
Q 4: Is 24option a good broker for beginners?
A 4: No. 24option is not a good choice for beginners. Not only because of its unregulated condition, but also because of its high initial deposit requirement.

Rating Index

Platinum

Minimum Deposit
$10,000

Gold

Minimum Deposit
$5,000

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Latest Reviews

FX1479526564

FX1479526564

South Africa

I wouldn't recommend 24option to anyone looking for a trustworthy broker. Their minimum deposit requirement of 250 dollars is quite high compared to other brokers in the market. The only thing that seems attractive is their leverage of up to 1:500, but that's just asking for trouble if you're not an experienced trader. But the thing that really rubbed me the wrong way is their withdrawal fee, which is way too high!! I think there are much better options out there.

Neutral

2023-04-24

鹿行川

鹿行川

Taiwan

I would like to draw the attention of the public to the scam 24option is committing. Please stay clear and save yourself as they’ve already been flagged.

Positive

2023-02-14

FX1177956577

FX1177956577

United Kingdom

Everybody, please stay away from 24option!!!! They have received regulatory attention because of fraud. I can only say DO NOT GIVE THEM YOUR MONEY!!! DANGER!!!

Positive

2022-12-14

24option Forex Broker has an overall rating of 1.58, Regulatory Index 0.00, License Index 0.00, Business Index 7.57, Software Index 4.00 Risk Control Index 0.00.