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/10
The WikiFX Score of this broker is reduced because of too many complaints!

24option

Belize|5-10 years|
Suspicious Scope of Business|High potential risk|

https://www.24option.com/international/

Website

Rating Index

Influence

Influence

C

Influence index NO.1

Uruguay 3.17

Surpassed 34.37% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

+52-5541639019
info@24option.com
https://www.24option.com/international/
https://www.facebook.com/24optioncom/
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Disclosure

Warning

SG MAS
2020-08-14

Contact number

English

+52-5541639019

Broker Information

More

Company Name

Richfield Capital Limited

Company Abbreviation

24option

Platform registered country and region

Belize

Company website
Twitter
Facebook

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

Warning: Low score, please stay away! 5
Previous Detection : 2024-06-20
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 6 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
  • The BelizeFSC regulation (license number: IFSC/60/440/TS/17) claimed by this broker is suspected to be clone. Please be aware of the risk!
  • The Belize FSC regulation with license number: IFSC/60/440/TS/17 is an offshore regulation. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

24option · WikiFX Survey

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24option · Company Summary

Note: 24options official site - https://www.24option.com/international/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information & Regulation

Feature Information
Registered Country/Region Belize
Found 2008
Regulation Suspicious clone
Market Instrument Forex currency pairs, precious metals, commodities, indices, CFDs, etc
Account Type Basic, Gold, Platinum and VIP
Demo Account N/A
Maximum Leverage 1:500
Spread Vary on the account type
Commission N/A
Trading Platform MT4
Minimum Deposit $250
Deposit & Withdrawal Method VISA/MasterCard credit/debit cards, wire transfers, Skrill, and Neteller

24option, a trading name of Richfield Capital Limited, was previously a binary options broker founded in 2008 and registered in Belize, but now offers Forex and CFD brokerage services.

As for regulation, 24option holds a suspicious clone Financial Services Commission (FSC) license. That is why its regulatory status on WikiFX is listed as “Suspected Fake Clone” and receives a relatively low score of 1.52/10. Please be aware of the risk.

General Information & Regulation

Note: The screenshot date is February 8, 2023. WikiFX gives dynamic scores, which will update in real-time based on the broker's dynamics. So the scores taken at the current time do not represent past and future scores.

Market Instruments

24option offers investors various financial instruments, including Forex currency pairs, precious metals, commodities, indices, CFDs, etc.

Account Types

There are four types of accounts available on the 24option platform: Basic (minimum initial deposit of $250), Gold (minimum initial deposit of $25,000), Platinum (minimum initial deposit of $100,000), and the VIP account(minimum initial deposit of $250,000). In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less.

Leverage

Concerning the trading leverage level available, the maximum leverage offered by 24option is up to 1:500. Inexperienced traders are advised not to use a high leverage level as it is risky.

Spreads

All spreads with 24option are a floating type and scaled with the accounts offered. Just take the benchmark EUR/USD pair as an example, the spread starts from 2.5 pips on the Basic account, from 2 pips on the Gold account, from 1.6 pips on the Platinum account and 1.1 pips on the VIP account.

Trading Platform

24option offers traders several trading platform options: an in-house trading platform, the mobile app, and the MT4 trading platform, which is currently the most popular on the market.

Deposit & Withdrawal

24option supports traders to deposit and withdraw funds from their investment accounts via VISA/MasterCard credit/debit cards, wire transfers, Skrill, and Neteller. 24option has a high withdrawal fee of 3.5% for withdrawals via credit/debit card. The wire transfer fee varies by currency and is approximately $30. Neteller charges 3.5% for withdrawals and 2% for withdrawals via Skrill.

Customer Support

Customer support at 24option is provided on a 24/7 basis. Traders can reach the support team through email: info@24option.com, live chat or the telephone: +52-5541639019.

Pros & Cons

Pros Cons
• Multiple tradable assets, account types and funding options • Suspicious clone
• MT4 supported • Website inaccessible
• High minimum deposit requirement ($250)

Frequently Asked Questions (FAQs)

Q 1: Is 24option regulated?
A 1: No. 24option holds a suspicious clone Financial Services Commission (FSC) license.
Q 2: Does 24option offer the industry-standard MT4 & MT5?
A 2: Yes. 24option supports MT4.
Q 3: What is the minimum deposit for 24option
A 3: The minimum initial deposit to open an account is $250.
Q 4: Is 24option a good broker for beginners?
A 4: No. 24option is not a good choice for beginners. Not only because of its unregulated condition, but also because of its high initial deposit requirement.

News

WikiFX - Alert: Beware of Belize FSC-Licensed Broker 24Option

NewsWikiFX - Alert: Beware of Belize FSC-Licensed Broker 24Option

2022-12-19 10:14

Financial losses are part of forex trading, but falling prey to scammers is devastating.

WikiFX
2022-12-19 10:14
News
WikiFX - Alert: Beware of Belize FSC-Licensed Broker 24Option
WIKIFX REPORT: FSCA warns the public against Invest Markets and 24Option.com

NewsWIKIFX REPORT: FSCA warns the public against Invest Markets and 24Option.com

2022-08-08 14:58

The Financial Sector Conduct Authority (FSCA) warns the public to be cautious when doing any financial services business with Invest Markets and 24Option.com which are not authorised to give any financial advice or render any intermediary services in terms of the Financial Advisory and Intermediary Services Act, 2002 (FAIS Act).

WikiFX
2022-08-08 14:58
News
WIKIFX REPORT: FSCA warns the public against Invest Markets and 24Option.com
WIKIFX REPORT: 24Option Owner Fined By Dutch Regulators

NewsWIKIFX REPORT: 24Option Owner Fined By Dutch Regulators

2022-08-08 14:44

Rodeler Limited, the company behind 24option.com, has been fined €15k for failing to comply with an investigation by the Dutch financial supervisory authority. The regulator decided not to impose the maximum penalty of €2 million, citing the company’s current financial condition. Read on for the details.

WikiFX
2022-08-08 14:44
News
WIKIFX REPORT: 24Option Owner Fined By Dutch Regulators
What You Should Know About Forex Scams - WikiFX

NewsWhat You Should Know About Forex Scams - WikiFX

2022-04-28 15:34

WikiFX is posted this artilce to help the beginners to know how to identify scam online trading brokers.

WikiFX
2022-04-28 15:34
News
What You Should Know About Forex Scams - WikiFX

User Reviews

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User comment

6

Comments

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Yurio
more than one year
Their Financial Services Commission (FSC) license seems a bit suspicious, and their website is often unavailable! Another thing that bother me is the high spread on their Basic account, which can eat into profits. But I've been able to work around it by using their more advanced accounts with tighter spreads. Overall, I think 24option can be a decent option for experienced traders who are looking for high leverage. But if you're a beginner or if you value transparency, stay away!
2023-04-24 18:47
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0
0
FX1479526564
more than one year
I wouldn't recommend 24option to anyone looking for a trustworthy broker. Their minimum deposit requirement of 250 dollars is quite high compared to other brokers in the market. The only thing that seems attractive is their leverage of up to 1:500, but that's just asking for trouble if you're not an experienced trader. But the thing that really rubbed me the wrong way is their withdrawal fee, which is way too high!! I think there are much better options out there.
2023-04-24 18:39
Reply
0
0
FX1288093447
more than one year
Has been scammed by this 24Options twice, their stop-loss not reliable, trading signal extremely bad, and what’s worse, they manipulated the price, making me lose money all the time.
2023-02-24 16:04
Reply
0
0
鹿行川
more than one year
I would like to draw the attention of the public to the scam 24option is committing. Please stay clear and save yourself as they’ve already been flagged.
2023-02-14 11:22
Reply
0
0
FX1177956577
more than one year
Everybody, please stay away from 24option!!!! They have received regulatory attention because of fraud. I can only say DO NOT GIVE THEM YOUR MONEY!!! DANGER!!!
2022-12-14 17:17
Reply
0
0
建安
more than one year
I had more than enough money in my account with no active trades, yet they made phony trades to deplete my account and steal my money. **** you, con artist broker.
2022-12-11 16:54
Reply
0
0
6
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