The WikiFX Score of this broker is reduced because of too many complaints! The WikiFX Score of this broker is reduced because of too many complaints! The WikiFX Score of this broker is reduced because of too many complaints!
Risk Management Index
The International Financial Services Commission (IFSC) was established by the enactment of the International Financial Services Commission Act (IFSCA) on 3rd May 1999. The IFSC is a premier regulatory body for the offshore industry in Belize and as the regulatory authority, the IFSC’s responsibility under the IFSC Act, is to enhance Belize as an international financial services center and to regulate the provision of international financial services.
Current Status:Suspicious Clone
License Type:Retail Forex License
Regulated in Country/AreaBelize
Regulatory License No.：IFSC/60/440/TS/17
Email Address of Licensed Institution :email@example.com
License Type:No Sharing
Website of Licensed Institution :
Expiry Date :--
Address of Licensed Institution :No. 5 Cork STreeT, P. O. Box 1708, BELIZE CITY, Belize C.A.
Phone Number of Licensed Institution :501-223-6910
Most visited countries/areas
The data are from WIKI Research 2021.08.03 updated
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Basic Information & Regulation of 24Option
Founded in 2008 and based in Cyprus, 24Option was previously a binary options broker and now offers Forex and CFD brokerage services. 24Option currently holds a retail Forex license from the International Financial Services Commission in Belize (regulatory number: IFSC/60/440/TS/17).
Security Analysis of 24Option
24Option is regulated offshore by the IFSC of Belize, but it should be noted that offshore regulators are not strict in their supervision of brokers, which means that the safety of investors' funds and trading activities on the 24Option platform is also risky.
24Option offers investors 170 financial instruments, including Forex currency pairs, precious metals, commodities, indices, CFDs, etc.
Accounts & Leverage of 24Option
There are four types of accounts available for new traders on the 24Option platform: Basic (minimum initial deposit of $100), Gold, Platinum, and VIP accounts. Leverage information remains unknown.
Fees of 24Option
24Option also charges a monthly account maintenance fee of $10. Additionally, a monthly fee of $80 is charged for accounts that have been inactive for two months, $120 after 3 months of inactivity and up to $120 per month after 6 months of inactivity.
Trading Platforms Available of 24Option
24Option offers traders several trading platform options, namely the in-house trading platform, the mobile app, and the MT4 trading platform, which is currently the most popular on the market.
Deposit & Withdrawal of 24Option
24Option supports traders to deposit and withdraw funds from their investment accounts via VISA/MasterCard credit/debit card, wire transfer, Skrill, Neteller. 24Option has a high withdrawal fee of 3.5% for withdrawals via credit/debit card. Wire transfer fee varies by currency and is approximately $30. Neteller charges 3.5% for withdrawals and 2% for withdrawals via Skrill.
Pros & Cons of 24Option
The main advantages of 24Option are:
1. Richness of tradable assets
2. Four types of trading accounts to choose from
3. Minimum acceptable account opening amount
4. Several trading platforms
5. A range of educational resources
The main disadvantages of 24Option are:
1. Offshore regulation
2. High withdrawal fees.
3. A large number of negative reviews
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Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.
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