The growth of crypto currencies has led many to enter this market. Both fervent believers in Blockchain technology and investors have seen in these assets a real opportunity. The reason for this post is to serve the last group, the investors, and for this we will offer an analysis of 24Option, one of the most advanced portals to make financial transactions with financial assets and also with crypto currencies.
What is 24Option?
It began in 2010 as a portal to make binary operations, but the growth of the site itself has allowed today provide more solid operations within the investment market such as stocks, currencies and in recent years, cryptodivisas.
It is registered as a company in Cyprus and is registered and regulated by CySEC (Cypruss Securities and Exchange Commission). It is licensed to operate under the Cyprus Securities and Exchange Commission under number 207/13.
Is 24Option safe?
Being in Cyprus, 24Option is also governed by the financial regulation of the European Union. This means that it complies with the European MiFID regulation, which, among other things, requires investors’ funds to be kept in separate accounts in order to avoid the risk of theft or improper handling of money. This condition is very important to evaluate in brokers to determine if they are safe and reliable.
It is also regulated by the FCA in the United Kingdom, the CNMV in Spain, the BAFIN in Germany, the AFM in the Netherlands and the other regulatory institutions in the European countries where it operates.
Over the years it has left good opinions in users, without major surprises in terms of payments and handling of funds, ensuring that it is a secure portal for the management of financial operations within the European Union.
Investment options within 24Option
As mentioned above, 24Option is an investment portal and offers a wide range of investment options. They can be found:
- The best-known raw materials, such as oil, aluminum, gold and silver.
- Currencies such as pound sterling, euro, dollar, Japanese yen, etc.
- Shares of companies of the United States stock exchange and of the main European stock exchanges.
- Stock indices of the main stock exchanges of the world.
- Reverse cryptocurrencies: Bitcoin, Ethereum, Ripple, Monero and Litecoin. En Criptomonedas offers up to 30 pairs of operations including fiat/criptomedas coins and cryptomedas/criptomedas.
When it comes to crypto currencies it is important to add that as traders, we do not effectively own digital currencies and we can only trade and invest with them as assets within the broker. This is an element to bear in mind and it makes the difference between trading here and trading in the exchanges of crypto currencies, portals where we can withdraw our digital assets.
The MT4 platform is one of the best known trading platforms in the Forex world. With this platform investors have a large number of tools for the achievement of their operations. Traders can select whether they want to see their charts on candles or on charts with moving averages.
To access the payment platform, in addition to the computer can be accessed via smartphones, work in both Android and iOS. The system is available in 12 languages, including Spanish. The platform also provides fairly comprehensive technical support in all the languages it handles and is available 24 hours a day, every day.
Methods of payment in 24Option
24Option has several options to put money into the world of investments. However, before depositing money in this platform it is necessary that we know all the conditions of it. An important condition is that you can only withdraw money using the same method you used to enter.
The means of payment you accept are the following:
- Visa, Mastercard, Discover or Diners card
- Bank transfer
The minimum income to be invested is valued at 100 euros and no commission is charged for the investment of the money. For the withdrawal of money from the platform a commission is charged and varies depending on the option chosen. Credit cards and online payment platforms have a 3.5% commission on the amount to withdraw, Webmoney charges a 0.9% commission, while Perfect Money and Skrill charge 2%.
In order to withdraw money from the platform, certain conditions and regulations must be met. A copy of a passport or identity card and a bank statement that is recent and has the person’s current address must be sent.
It is important to note that 24Option does not have the option to deposit/withdraw money via PayPal. This situation is one of the most criticized elements within the world of investments since PayPal is one of the most used and secure payment platforms worldwide.
Commissions to operate in 24Option
It is important to start by clarifying that 24Option DOES NOT charge commissions for trading within your platform, so how do you make money? Through Spreads on the prices of all assets offered within the platform.
What are spreads? These are the differences between the purchase price and the sale price of the assets offered. In the case of 24Option, spreads are quite narrow, being attractive for users who trade within the platform. Remember that narrow spreads represent good liquidity within the market.
Bonuses and offers at 24Option
As already mentioned, 24Option is registered and regulated by the Cyprus Securities and Exchange Commission and as we have seen in a communiqué of 2016 and another of 2017, Bonds and offers are not allowed for Brokers operating within the Cypriot territory. CySEC prohibitions include welcome and deposit bonuses, references, gifts, tournaments, quizzes, risk-free accounts, cash refunds and bond interest rates.
The Commission is of the opinion that ‘it is unlikely that a company offering such bonuses will be able to demonstrate that it is acting honestly, impartially and professionally and in the best interests of its retail customers‘. Also, they explain that this type of bonds can be deceptive for the community, being able to generate that inappropriate people enter to operate in a world so complex that of the finances.
Opinion about Option24
Having already seen all the characteristics that 24option offers us, we can determine that it is a safe and reliable Broker to carry out operations within the market. Users from different countries around the world can attest to the solidity of the retirement system and how it has been functioning correctly over the years.
The only criticism we’ve been able to find of this portal is that it usually takes a little time with withdrawal requests, but that may be due more to logistical complications than to risks to the portal’s security itself.
To invest in crypto currencies it becomes a very interesting option since it does not require us to know about Blockchain technology or the process of holding these virtual currencies, they are only operated as one more asset within the market. Although many claim that it is safer to have total control of the crypto currencies, when doing this type of operations in 24Option do not suffer from own cyber attacks that attack the platforms that work exclusively with crypto currencies.