24Option Account Types

24Option Account Types vary according to what traders require. 24Option focuses on offering Forex currencies and CFD instruments, two of the most popular asset classes in the investment world.

Choose your quick section of our 24Option Account Types below.

 24Option Account Types Revealed:

1. ✔️24Option at a glance
2. ✔️Overview
3. ✔️Account Types
4. Account Features
5. Demo Account
6. Islamic Account
7. Pros and Cons

Here is an overview of the 24Option Account types as well as the treading features and benefits offered for each account.

24Option Overview

24Option was founded in 2008 and is headquartered in Cypress and regulated there by the Cypress Securities and Exchange Commission (CySEC).

24Option started out as a pure binary options broker, but no longer offers binary options to trader, and has recently added more tradable assets and instruments to its available portfolio.

24Option has also adjusted its customer support offering to manage larger client portfolios and provide enhanced technical support across its platform offering.

24Option focuses on offering Forex currencies and CFD instruments, two of the most popular asset classes in the investment world.

Beginner traders will benefit from the comprehensive educational resources. The 24Option website has articles on topics like daily market analysis and technical analysis, which can all be accessed free of charge.

This offering is further complemented by free webinars as well as those you can only get as a member of 24Option.

Members are also granted access to some very well-presented video lessons. These lessons cover both basic and advanced concepts like basics of CFD trading, calculating pips, managing risk, different kinds of analyses, and more.

As a regulated company 24Option is governed by strict rules and regulations which are in place to ensure that the broker continuously complies with its operating conditions during the provision of its services.

These regulations are designed to enhance the protection of investors while promoting stable and orderly financial markets.

24Option is an excellent choice for beginner traders who require comprehensive educational resources and access to prompt customer support. The asset classes are not the broadest but will meet the requirements of most standard retail Forex traders.

Advanced traders will likely need to look elsewhere for more platform software variety and a greater selection of tradable assets than is currently offered by 24Option.

24Option is not available in Canada, Israel, Iraq, Belgium, Bosnia And Herzegovina, Australia, U.S.A, Virgin Island, Puerto Rico, American Samoa, Algeria, Ecuador, Iran, Myanmar, North Korea, China, Panama, Uganda, Ukraine, New Zealand, and Japan.

24Option Account Types

24Option provides traders with a selection of 4 different account types, which consist of the Basic Account, Gold Account, Platinum Account, and the VIP Account.

The broker also offers traders the option to open a demo account and test out their strategies in a risk-free environment. 24Option does not offer an Islamic Account.

To become a verified client, you need to provide the following documents:

• A valid passport/national ID or a driving license – the front and back sides.
• A utility bill or bank statement – the entire page of the document, dated within 6 months, showing your name and full address.
• If the deposit is made via credit card – the credit card used, both front and back sides. Please cover the first 12 digits on the front side and the CVV code (3 digits) on the back side.
• If the deposit is made via e-Wallet or bank transfer – a screenshot of your e-Wallet account profile page (showing your full name, email, and e-Wallet ID) or confirmation of the bank transfer deposit.
• Simply send digital images of these verification documents to docs@24option.com and you will receive an email notification once the documents are processed (it usually takes up to 3 business days).

Upon registration, each client is asked to complete a questionnaire regarding his trading experience, and knowledge in CFD and Forex to accommodate the platform to each client’s trading needs.

In cases where we the broker determines that its services are not well suited for client’s level of experience or knowledge, 24Option will notify the client.

You’re free to try all the trading features of the broker’s platform on your own or ask your personal Account Manager for assistance. Also, you can find useful information that may help you to start trading in the broker’s Education section.

24Option Account Features

Basic Account

The Basic Account from 24Option is the best option for new traders, as well as those who want to try out 24Option without risking too much in initial funds. The minimum required balance is $250 (R3489.70 USD/ZAR at the time of writing), and users are given access to some educational materials.

Education:

• 1 Basic Lesson
• No Webinars
• Daily News
• Trading Central
• 2 Daily TC SMS Alerts

Conditions:

• 100% Margin Call
• 1 Free Withdrawal

Gold Account

The Gold Account from 24Option has improved trade pricing and users also get two basic lessons and one monthly webinar. The minimum deposit is $5000 (R69794.00 USD/ZAR at the time of writing) , and users can make one free monthly withdrawal.

Education:

• 2 Basic Lessons
• 1 Monthly Webinar
• Daily News
• Trading Central
• 2 Daily TC SMS Alerts

Conditions:

• 100% Margin Call
• 1 Monthly Free Withdrawal

Platinum Account

The Platinum Account from 24option requires a $10 000 (R139588.00 USD/ZAR at the time of writing) deposit and offers all the same features as the previous account types, with only marginal improvements.

AS such, the pricing is more competitive, and users get three advanced lessons and two monthly webinars. Clients can also make three free monthly withdrawals from their Platinum accounts.

Education:

• 3 Advanced Lessons
• 2 Monthly Webinar
• Daily News
• Trading Central
• 4 Daily TC SMS Alerts

Conditions:

• 100% Margin Call
• 3 Monthly Free Withdrawals

VIP Account

The VIP Account from 24Option is the most advanced but also the most expensive option, which requires a $50 000 (R697940.00 USD/ZAR at the time of writing) deposit.

The VIP account has the most competitive pricing of all the accounts and offers five advanced lessons as well as five monthly webinars. Users can withdraw unlimited amounts from their VIP account without fees.

Education:

• 5 Advanced Lessons
• 5 Monthly Webinar
• Daily News
• Trading Central
• 7 Daily TC SMS Alerts

Conditions:

• 100% Margin Call
• No Fees

Demo Account

Traders can only open a demo account with 24Option after registering for a real account and depositing the minimum of $250 (R3489.70 USD/ZAR at the time of writing). After this, they will have access to the following demo features:

• Positions on the demo account are taken in the same way and on the same products as when using a real account.
• No time limit on usage, the demo account remains useable for as long as you want, although it will expire after a certain length of time, such as one month.
• The demo account gives access to MetaTrader 4 as well as the broker’s proprietary trading software.
• The demo account includes additional coaching tips for beginner traders.

Islamic Account

24Option does not offer an Islamic Account to traders of the Muslim faith. This is a drawback to such traders, as an Islamic Account fulfils an important purpose, as outlined in more detail below.

Also known as ‘no swap accounts’, Islamic trading accounts allow Muslims to engage in online forex trading in compliance with Sharia law.

With 25% of the world’s population practicing the Islamic faith, Islamic forex trading has continued to gain popularity worldwide.

Essentially, an Islamic forex trading account charges no swap or rollover interest on positions held overnight in the forex market. An administration fee is, however, charged on some accounts to open positions.

24Option Pros and Cons

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Frequently Asked Questions

How many instruments can I trade with 24Option?

24Option provides a wide selection of underlying assets for their clients to choose from. In total, there are more than 130 different types of underlying assets.

The selection comes 4 main asset classes mainly currencies (34 pairs), commodities (11 types), market indices (25 indices) and stocks (61 companies).

Which platforms are supported by 24Option?

MetaTrader 4.

Does 24Option offer leverage?

Yes. There is a maximum leverage of 1:200 for professional clients, and 1:30 for standard retail traders.

What spreads can I expect with 24Option?

Traders with 24Option can expect the following spread list:

• Spreads will vary depending on the chosen account type.
• The Basic Account has floating spreads that start at 2.7 pips for EUR/USD.
• The Gold Account has floating spreads that start at 3.2 pips for EUR/USD.
• The Platinum Account has floating spreads that start at 1.4 pips for EUR/USD.
• The VIP Account has floating spreads that start from 0.9 pips for EUR/USD.

Does 24Option charge commission?

Yes. Commissions are charged on crude oil and gold at around $0.7 (R9.77 USD/ZAR at the time of writing) per round turn.

Are there additional charges on the Islamic account?

24Option does not offer an Islamic Account.

Is 24Option regulated?

Yes. 24Option is regulated by The Cypress Securities and Exchange Commission (CySEC).