24option is the undisputed binary options trading leader in Europe. The broker is regulated by the CySEC and received all the authorizations form the major European financial regulators (FCA in the UK, AMF in France, BaFin in Germany…). This industry pioneer has been leading the innovation race among regulated brokers and proposes the largest range of different binary option types on the market. The broker recently launched the very popular 30 seconds binary options that are representing a constantly growing proportion of 24option’s trading volume. The group has been working on its brand image with high flying sponsoring partnerships with Italian football team Juventus football club and French football team Olympique Lyonnais. These expensive partnerships have enable 24option to strengthen its brand recognition and to gain market shares outside the United Kingdom where it is already the leader. The broker proposes 5 different 24option account types. In order to attract all kinds of traders, these different account types are unlocked with increasing minimum deposits granting you with a variable level of services.
24option proposes 5 different account types
As you can see below, there are 5 different 24option account types. Each different 24option account type has been designed for a specific trader profile. What differentiates these account types is the level of services provided that depends on the level your first deposit. The higher the first deposit, the wider the range of services and tools you will be able to access on the 24option trading platform.
We recommend you to focus on the Basic and Silver account types. Indeed we don’t think that the additional services you can claim with the other account types (Gold, Platinum and Diamond) are worth the required additional cash except if you are an experienced trader. The extra services include a personal coach, private training sessions with a financial expert or extra gifts like football game tickets. According to us, the most important trading tools are the trading platform, the professional technical charts (available with all 24option account types) and the Trading Central tool. The trading central tool will provide you with free professional trading signals form 24option that will help you identify the best trading opportunities among the portfolio of available assets. We even believe that the more expensive accounts can put you at a disadvantage. Indeed, they have higher minimum trade amounts meaning that you will need to risk more money on each trade, which is not relevant for beginners.
How to choose from the 24option account types
The other important aspects to take into consideration are bonus, returns and withdrawals. Of course, the Gold, Platinum and Diamond account types will enable you to benefit from higher returns on binary options (84%, 86% and 88% respectively compared with 82% for the Standard and Basic accounts). Nevertheless, we don’t think that it makes a great difference in the end. Indeed, most of the best binary options brokers are not proposing such high returns. Money management is extremely important when trading binary options. What matters is to generate a high winning ratio on multiple transactions; the return on each single transaction is not such an important metric. I would rather trade with a broker that proposes a reliable and intuitive trading platform, advanced trading tools and an interesting educational package than with a broker that only proposes the highest returns. In terms of withdrawals, you are entitled to one free cash withdrawal on your binary options account whatever the 24option trading account you choose. The broker will charge you a $30 fee for every additional withdrawals. We believe that one withdrawal per month is more than enough for beginners in the binary options industry.
Bonus of the different 24option account types
24option bonus levels may vary depending on the profile, country of residence and currency of the trader. Nevertheless, you can still get a welcome bonus even if you choose the 24option account type with the lowest minimum deposit. Don’t hesitate to negotiate with your account manager un order to benefit from a higher welcome bonus. According to our information, the minium deposit and bonus levels corresponding with the different 24option trading accounts are the followings.
|Account Type||Initial Deposit||Welcome Bonus|
Don’t hesitate to have a look at our detailed review of 24option for further information about the broker and use our secured link to access the broker website. This will provide you additional bonus and privileges negotiated by our team with the broker.