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24option is considered as being one of the most trustworthy binary options brokers in the industry. The company has established itself as being a leader in the binary options trading industry by offering clients a number of popular underlying assets. By being able to access an array of assets clients have the opportunity to expand their investment portfolio considerably.
The good news is that signing up for a demo account with the company is very easy. All that’s required from traders is a $250 minimum deposit, which can be deposited via credit card or currency transfer.
Traders receive a bonus on their initial deposit. However, the bonus amount will vary a great deal depending on the amount deposited. The amount is credited to your demo trading account as soon as you finish the sign-up procedure.
Money can be deposited in yen, dollars, and euros as well as other currencies. Though once selected the currency cannot be changed later on. So, you’ll need to think carefully before choosing a currency. Once your live account is active, a demo account can then later be requested. A demo trading account is highly recommended to anyone who is starting to trade binary options.
Many newbie and even advanced traders can use the demo account to test strategies as well as get the hang of the user interface before trading with real money. However, if you do run into problems 24option has excellent customer service that will walk you through to a solution.
How does the 24option Bonus Work
24option is amongst the largest binary options brokers in the industry. The company also provides other complementing services. However, the most popular feature offered by 24option is their trading bonus which is awarded upon request.
Most experienced traders already know that bonuses can be cumbersome especially when it comes time to withdraw the money. That said traders using the service should not have to worry about being scammed by the company and there are significant security features in place to prevent the company from being scammed by rogue traders. The company offers many different types of bonuses:
- Technology Bonuses: Advanced account holders are awarded bonuses in the form of physical items or gifts like laptops and tablet computers. Usually the products given are by Apple like an iPad for a $10K deposit and a MacBook for a $20K deposit. The volume terms for a turnover of $50K qualifies the trader for a Type 1 bonus and a 100K turnover for a Type 2 bonus.
- Cash Bonuses: Traders are also awarded cash bonuses at the discretion of the business or if requested by the client. The turnover requirements are usually 50x times the deposit amount. But that depends on the amount deposited.
Traders can withdraw their bonus once their earnings have reached a certain level of overall turnover. Usually, the bar has been set at 50X and 5x for Technology Bonuses. To make things easier for traders 24option splits the account into two parts the primary tab shows ”Account cash balance” which shows the total amount which can be withdrawn by the trader.
- ”Account Bonus balance” – This is the amount which is unavailable yet awarded to the trader but until the specific volume has been reached.
- “Cumulative trading volume” – This shows the total trading volume for the account
- “Minimum trading volume” – This is the total amount that a trader much reach to withdraw their bonus amount. Think of it as a countdown timer.
It is important to note that before being able to withdraw money 24option will require that traders close all their open positions.
24option Deposit Bonus Types
Apart from offering traders some excellent binary trading opportunities, 24option also offers traders a number of incentives and various deposit bonuses. New traders who join 24option i.e. for the first time are entitled to a 100% bonus on their initial deposit.
The broker is best known for their regular first-time bonus offering for newbie traders and array of promotions. The overall bonus offered for first time traders who make their initial deposit varies from 30% to 100% of their deposit amount.
The company offers three types of accounts i.e. Standard, Gold and Platinum. Every one of these account types has their own type of welcome bonus. The Standard account has the smallest bonus with gold and Platinum having larger bonuses respectively. The largest bonus is obviously offered to Platinum account holders.
24option also offers bonuses as special promotions to their affiliates which help them consequently improve conversion rates. Plus, various special promotions and bonuses are offered throughout a given calendar year like for special occasions like Christmas, New Year, Easter, etc. The company may also announce a bonus during times when the market is volatile.
Is there a catch to 24option’s Deposit Bonus offering?
The great thing about 24option as a broker is that there are no catches to the deposit bonus. Though you’ll need to abide by the terms and conditions. You’re asked to fully understand the agreement prior to accepting the bonus. So, make sure that you read through it.
Earning 24option’s deposit bonus mainly requires that traders meet a certain level of trade volume which is usually set at fifty times the bonus amount. Take for instance an account which is opened with $5000 as its initial deposit and is eligible to a 50% deposit bonus will get $2500.
But the trader will have to reach 25 times that bonus amount. So, the bonus will be disbursed when the trader’s trading volume is $62,500.
The good thing about 24option is that unlike other binary options brokers the service does not restrict members from withdrawing during that period. So, they can continue trading and withdrawing their earnings. Though traders will forfeit the full bonus if they choose to withdraw prior to meeting the trading volume.
If you are not sure about the company’s deposit bonus or think that it’s something you don’t need then be assured that accepting the bonus is optional. Though if your plan is to make a lot of money trading binary options, the bonus is certainly the best way to reach your goal faster.
The 24option Gold Trading Account
It goes without saying that the Gold account has the most features. There are many unique features associated with this particular account type.
Both Platinum and Gold account holders get access to the complete list of features offered by 24option. Though it’s recommended mainly for seasoned traders. Once you have a Gold account, you can take advantage of features like training sessions, various bonuses and get an additional 2% return on each successful trade.
Some newbie traders may feel that they should get the Gold account and if they do its always a good idea to keep in touch with the account manager for assistance. Keeping in touch with the account manager will help to resolve any queries that may arise from using the account.
Keep in mind that traders cannot make use of this special assistance feature if they opt for a standard or demo account.
Gold account holders are also charged a minimum withdrawal fee which is what makes the account extra appealing. However, the biggest selling point for the Gold account has to be the fact that experienced traders benefit from a higher return rate and payout.
24option is arguably one of the best online binary options brokers in the industry. One of the reasons why they are ranked amongst the best is because of the number of accounts offered which cater to traders of all types. Though choosing the Gold and Platinum account mainly depends on the individual’s needs and experience as a trader.
The 24option VIP Account
All traders have a unique set of goals, a select group of underlying assets and a particular style of trading. Keeping all these factors in mind 24option has framed their VIP account to accommodate everyone.
The VIP and Platinum account each offer the ability to choose an account type which is best suited to their needs and to reach their full potential. There are three different VIP account types i.e. Standard, Gold, and Platinum.
All VIP accounts adhere to a standard set of rules and offer a list of standard features to members trading binary options. The features offered are touch options, high-yield options, high/low options, and boundary options. Plus, there are no restrictions as to which assets traders can trade via the platform. Traders have direct access to customer service and the trading account at all times.
However, in addition to the standard set of features that are meant for all VIP account holders, those who have a Platinum account also get one-on-one coaching. The goal of the coaching is to answer questions that a trader may have and offer insights into the market. Platinum members benefit from personal and professional training sessions with a dedicated account manager.
Traders who want to slowly build their account as they learn the ropes can start with a standard VIP account. Then as they become more adept to trading online, they can later upgrade to Gold and Platinum accounts.
That said it is also possible to directly start with a Platinum account. Regardless of the type of trader, you are each VIP account has been designed to ensure total satisfaction and transparency for traders.