24Option Reviews Forex/CFDs Trading
24Option are one of the leading online brokers. They boast some of the latest technology on their trading platform and pride themselves on offering an easy to use system. The new bespoke platform is also feature rich and advanced. The firm operates under the company name Rodeler Limited and has headquarters in Cyprus.
The firm are regulated by CySec but have stopped offering binary options. While they will continue to offer existing client binary trading, their focus is now on CFD and Forex trades.
24Option Reviews – Details:
- Demo Account – Yes
- Minimum Deposit – £250
- Minimum trade – From 0.1 lots
- Signals service – Yes
- Bonus details – As a CySec regulated broker, 24option no longer offer bonuses or trading benefits.
- Mobile App – Yes. Android and iOS catered for.
Trading Platform Review
Traders can choose from multiple trade types and assets. The trading area is clearly laid out. The price graph on the trading window can be enlarged, to allow a more detailed analysis of price action.
From here traders can see all the trades they have open. These are flagged as to whether they are currently in the money or not. The opening price and current price are both displayed, as is the expiry time. Also, the open trades window will display a ‘Close’ value – that is a value that the trader can ‘cash in’ at that moment – either to lock in a profit or reduce a loss.
These are only offered at certain times within a trade, but add to a trader’s options and are handily placed. Trade history is also shown in this area. All completed trades are listed, open and close prices and of course, the net result of the trade. There are also three tabs for traders to keep informed of markets changes.
A trading alerts tab, a daily market updates tab and the very useful Economic calendar tab. This provides a great source for finding the key financial statements that will get released to the markets in the near future.
In addition, the firm now also offer CFD trading and forex trading «per pip». This allows users to trade in a more traditional way. It also allows users to trade using leverage. This is a big difference if traders are more used to the ‘fixed risk’ of a other investment vehicles.
This allows traders to take a position on cryptocurrency versus USD or GBP for example. As the CFD offering is relatively new, more markets will be added over the coming month. This new types of trade also include the option to set stop loss levels. This is a key part of risk management when using leverage.
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