Profile
What 24option Does and Who They Serve
24option was previously a well-known forex, CFD, and binary options broker, widely marketed across Europe, the Middle East, and Latin America. The broker was operated by Rodeler Limited, a Cyprus-based company authorised by the Cyprus Securities and Exchange Commission (CySEC) under licence number 207/13. However, as of the most recent updates, 24option is no longer operational. Its CySEC licence was withdrawn in January 2021, and the broker ceased accepting new clients and terminated its trading services.
At its peak, 24option targeted retail traders with a focus on user-friendly trading of forex, commodities, indices, stocks, and cryptocurrency CFDs. It also became widely known for its controversial binary options offering, which faced increasing regulatory scrutiny.
Trading Services and Platform Features Offered by 24option
While operational, 24option offered CFD trading across:
- Forex pairs
- Commodities (e.g. oil, gold)
- Stock indices
- Equities
- Cryptocurrencies
Clients accessed markets through:
- MetaTrader 4 (MT4)
- Proprietary web-based platform
Trading features at the time included:
- Leverage up to 1:30 for retail clients (in line with ESMA rules)
- Multiple account tiers with varying spreads and perks
- Web and mobile trading support
- Educational resources such as webinars and eBooks
However, the binary options component of its business drew regulatory action and reputational damage, particularly from European regulators.
Ideal Clients: Who 24option Was Designed For
24option primarily targeted:
- Retail traders with little trading experience
- Clients in Europe and the Middle East via online marketing
- Traders interested in simple, high-risk instruments like binary options (before they were banned in the EU)
Its appeal was strongest among first-time traders due to its simple interface and aggressive marketing approach.
Regulatory Status and Trustworthiness of 24option
24option’s former operator, Rodeler Ltd, was regulated by CySEC until January 2021, when the licence was officially withdrawn. Key developments include:
- CySEC fined Rodeler Ltd €280,000 in 2020 for non-compliance with regulatory obligations
- Rodeler agreed to voluntarily surrender its licence
- As of now, 24option is no longer active or authorised to offer investment services
Clients who previously held accounts were instructed to close positions and withdraw funds during the wind-down period.
What Made 24option Stand Out in the Trading Industry
At its peak, 24option stood out for:
- Early adoption of binary options trading
- Wide market reach and high brand visibility
- Accessible platforms for novice traders
- Aggressive affiliate marketing and sponsorships (including partnerships with sports teams)
However, its regulatory troubles and association with high-risk instruments like binary options led to loss of credibility, ultimately resulting in its market exit.
Pros and Cons of Using 24option (While Operational)
Pros
- Previously regulated by CySEC
- MT4 and web trading platforms offered
- Multilingual customer support
- Variety of instruments including crypto and forex
Cons
- Licence revoked by CySEC
- No longer operational or authorised
- History of regulatory fines and complaints
- Binary options association hurt its long-term credibility
Conclusion: Final Thoughts on 24option
24option was once a highly visible broker offering CFDs and binary options under CySEC regulation. However, due to regulatory actions, licence withdrawal, and poor compliance history, the company ceased operations in 2021 and is no longer considered a viable trading platform. Traders should now consider fully licensed and operational brokers regulated by authorities such as the FCA, ASIC, or CySEC.
