Is 24Option Scam? Broker review

24option scamOn the web, you can find a lot about 24option. It is no surprise, because according to the statistics, 24option is the 2nd largest binary options broker in the world (Banc de Binary is 1st) However in this review, we will show you all information combined, making a big list of reasons why 24option is a scam or not.

24option is a binary options broker established in 2010 with headquarters in Limassol, Cyprus. Some may think this is s red flag, but, in fact, that is completely normal for binary options brokers. Most of them have their headquarters in Cyprus, because of regulatory purposes.

Unortunately, 24Option has closed their binary options trading platform. From now on, you can only trade CFD and Forex at their website.

24option basic info

  • Official Website:
  • Headquarters: Limassol, Cyprus
  • Trading Platform: Tech Financials
  • 2nd largest binary options broker

Why is 24option scam?

24option verified broker

I’ve read many complaints against 24option, saying that they scam people, they never let you withdraw your earned money, or even they lie about giving you free money and such. Those are all invalid reasons. Read on to see what I mean.

People complain, that they were offered free money (24option bonus) but then when it came down to paying customers out, there were problems. Yes – this situation can occur. But only if a customer has accepted a bonus AND has not completed all procedures needed for the bonus to be withdrawn. In order to withdraw money including the bonus offered by 24options, a customer is required to:

  • Upload necessary documents to prove the customer is, in fact, the person they claim to be
  • Complete wagering requirements (40x the value of the bonus)

If any of the above is not met, the withdrawal of the bonus funds is not possible. If you have this kind of problems, please, contact the customer support.

Another reason why clients might complain and dislike 24option is: losing their money. Trading binary options simply involves risk. Everyone should know that. It is an investment, with which your money is at risk if you do not invest (make trades) wisely. If you do not know what you are doing, please, learn something about binary options first and try trading on a demo account. You can do that either with 24option, but also with our demo account: x Binary Options Demo.

24Option regulations

24Option is not a scam. They are regulated by important regulatory authorities of the world including the FCA in the United Kingdom, CySEC, Financial Market Authority and more. The complete list of regulators, that have approved trading with 24options can be found below – all of these official authorities have said “24Option is NOT a scam,” and gave them regulations

24option regulations

A list of regulations found at

Their platform (Tech Financials)

Tech Financials is a platform programmed by a third-party company that creates binary options trading platforms not only for Banc de Binary but also for other brokers. 24Option is, however, one of the few brokers that use this platform. This means that trading program, where traders make all the trades is not programmed by the broker itself, but by a different company. In the company’s intents is to make the platform as good as possible, in order to sell it to their clients (24option). If it was any sketchy, they would not buy it.

24option platform

24option’s platform had to be reviewed by all regulatory authorities.


  • Mobile Platform
  • EU CySEC Regulated binary options broker
  • Articles and financial news
  • Large selection of languages
  • Good and well-known reputation
  • Good variety in types of trading and assets Decent pay outs
100% profit spread options
Open Account!

It is very simple, fast and easy to start trading with this broker, even though their platform might seem a bit confusing for new traders. The first thing you need to do in order to trade with 24option is to create an account. You can register now by clicking the button below. After the registration process is complete, the deposit can be made by a credit card, wire transfer, skrill or other payment methods.

  • Registration takes: 3 minutes
  • 24 Option scam status: Verified and trusted broker
  • Minimum deposit: $ 250 / 250 € / 250 £
  • Minimum trade amount: $ 24 / 24 € / 24 £
  • 2nd largest broker in the binary options world

Compare 24 option with other brokers

Broker Bonus Min Deposit Payout Review Open Account
USA Allowed
$10 BONUS $ 100 * Review Trade Now!
IQ Option
FREE DEMO ACCOUNT $ 10 Up to 91 %* Review Trade Now!
Free cashback of $ 50! $50 Up to 100%* Review Trade Now!
*in case of correct prediction

Show detailed comparation table!

More information about 24option

Review Date
24Option SCAM



More about the author: Step

I've wanted to build a business of some kind and earn money since I was in middle school. I wasn't very successful though until my senior year in highschool, when I finally started to think about doing online business. Nowadays I profitably trade binary options full-time and thus gladly share my experiences with you. More posts by this author

59 Responses to “Is 24Option Scam? Broker review”

  1. Hy I deposited 500 USD and some guy was trading for me. Its 14 days now he said I can withdraw my money..before that he said I’m must send tax fee withdrawal fee and sending fee because the trading was not done in south Africa.. Is its true that I have to pay this amount before withdrawal?

    1. Dear Calvin. I am pretty surprised that he has made you a profit! Most of the time people who call you to tell you they will trade for you just blow the account. My advice is: change your password, withdraw your money immediately and don’t let him trade again.

  2. hi step
    i joined 24 option but am debating on sending any money – have been constantly asked to activate account via email and phone calls, had an account manage call me regarding trading account . but i can see where this will go.upgdae account – put more money in- make some and then lose all. wow

  3. Do not start here! Especially not as an inexperienced trader.
    The enormous leverage with which you can trade is very tempting, but deadly for your account. This is financial suicide.
    The spreads are also much too high. For example, the spread at the price of Apple of 0.70 ct. is pure theft, the normal spread at Apple is max. 2 ct.
    If you do not trade for a while, money is automatically debited from your account under the guise of ‘maintenance costs’. I have experience with various bona fide brokers and there is no one who charges maintenance costs.
    Watch out!

  4. Hi am stanley from Wisconsin I started trading with 24 option I invested $250 and I made 2500 and I try to cash out the money they said payment was successful but I can’t receive my funds in my account yet today is monday 29 january 2018 that i try to make payment to my bank account and I received a confirmation email saying payment successful but there is no funds in my account. So want to know when I will receive the fund in my account

  5. Hi,i was recently recruited to open a live forex account by a certain lady in Canada. I invested $250 of which I was promised to make $2500-$3000/week. After a few days I was told to deposit another $270 to upgrade the system which I did. Now I have been required to pay $215 as a transfer charge.All this funds are transfered to Lagos,NIGERIA.Help is this a scam?

  6. I sent a message on friday trying to figure out something and it seemed my question was deleted.

    I was contacted recently about investing 250 and receiving 3,000 how real is this

  7. The thing is I’m not a rich person. I work so hard to earn a little bit of money and so hard to save a little bit. If I have been scammed, god will punish them. I’ll not go up until I get my money back too

  8. I invasted £1000 with few seeks ago. But. I needed to withdraw some of it for an emergency. I went to withdraw section. Filled all my bank details. Sent the request. It’s been 10 days now. I have not seen any money been send to me. Not I am having doubts about this company.. I’ll wait until next Monday before going any further

  9. Hello,
    I invest 11500usd and I am not able to sell my crypto currency
    Any one has experience how can I get my money
    I invest in ETH and XPR . I made profit but profit show by minus

  10. I deposited $250 into my 24option account, i decided to withrew it because I heard that 24option i scam, they don’t want to process my withdrawal claiming document is missing but my account is verified, its been more than 9 days and all they say is my withdrawal is cancelled

  11. WOW. this company does not sound professional at all. There are a number of companies operating out fo Cyprus that cannot be trusted from what I have read.

    Thanks for the feedback everyone this really opens my eyes on how bad some companies are.

  12. Hi there,
    I have opened an account with 24options to buy cryptocurrency but after reading the reviews i m very scared and i have got £2k with them…..what am i suppose to do….pls kindly advice me. Thanks

    1. Hi Khan – if you are afraid, there is no better option than withdraw your money and use it with a different broker that you trust. I would personally go for IQ Option

  13. Hihi everyone I get a email. Yesterday from 24option ask me to invest to deposit$250 and make money fast i want to invest but hear of you guys say many things going to make me nervous and afraid of scam if I will to invest and make a deposit what the first thing I am going to do please make some suggestions tell me the right way please

    1. Dear Kok. My advice to you is: If you feel like you don’t want to invest, then do not do it. But if you want to try, and want to see whether you can make some money, go ahead. But never let anyone influence you. Good luck

  14. I am looking for the best Bricker right now to invest with I am considering 24.option but quite nervous if the account managers will help me really maximise my profits, or they will be freezing my acc forcing me to upgrade I’m extremely nervous of such a bad experience especially with a very reputable organization. I’m really looking forward to have an awesome manager and really friendly withdrawal conditions but the big question is will I find all these in 24.option??…..sigh*

  15. I take my experience: you start with $250 and then everything goes well. Then they ask you to upgrade with another x amount and then and then your account increases. At this stage my account stands at $15000. They then said now I will make money and after next hour of so – everything lost. They then say sorry, but deposit another x amount and we will make your money back again. You know what I told them to go and F them selves.

    1. Thank you for your experience. However, the question is, did you lose the money yourself, or did you trust somebody over the phone with your 15k?

  16. Hello family,

    I”ve been contacting by a woman who’s name’s Diana,the sale manager of 24ofrom Bulgaria..She showed me off how to make money online in using 24options with binary trading….She obliged me to deposit the amount of $100 in my credit card and transfer it in order to activate my account and move forward with business….Am afraid to be casting in this deal because I don’t have any confidence of anyone in money stuff

    1. Hi Danny, I recomend you not to trust anyone with your money – only yourself. If you know what binary options are and if you want to start, 24Option is a good broker. But if you dont, just dont invest.

  17. Hello I was contacted by a lady who said I could invest 300 and make 4000. After I make 4000 I give her 20 percent of the earnings. She is willing to advise me on how but I have to give her my log in info so she can manage my account? Is this a scam? How do I know if she is trying to scam me or is legit. She offered to use 24option or

    1. Caitlin, do do not trust such people. As we have said many times – brokers never call people like this. What you are talking about is a scammy scheme!

  18. One of them by name on his instagram profile, ANTHONIO claimed to be working in 24options contacted me and said the minimum investment was $300 but I told him what I can afford is a $100 which he took time to oblige, but I’m still confused because while we were chatting on whatsapp I asked him his real name but he gave me another name which is Scott Harrison and I asked him while answering two different names but he said the name was given to him by his mother and I’m confused. On another occasion to clear my doubt, I asked him to send me a live video of himself but he never did and it prompted my suspicion that it could be scam. He has been on my neck asking me when am I going to send the money to him so that he can create an account for me but I have not concluded yet if I should venture into it. I even went as far sending him my personal details which include my ID card, name, date of birth, phone number, and my email. Please do you guys think it’s a scam or not? I need answers thank u

    1. Pascal, I am sorry for that – that sounds like a big scam. Nobody ever should contact you. I think this is not 24options employee, but somebody who wanted to scam you.

  19. Hi I have been trading with 24option and the account manager is telling me my acc needs an upgrade nd I must deposit further amount of $600 wer by we all split it into two which is R300 because my acc is temporarily on hold for trading activities untill I make further upgrade payments to my acc frm a standard acc to a premium acc so a dnt understand y a can’t make a withdrawal from my acc?

    1. Hi Sam. Did she tell you any reason for this? I dont think she can force you into further deposits. Can you also tell me where you are from? I will try to help you.Thanks!

  20. Hi does 24 option use etrade, where the robot can do trades for me with a single click and watch things happening? Cos to be honest to trust some1 with ur money is risky

  21. Morning, I’ve been trading under someone managing my account since February 2017. now that i want to cash up my money this account manager has withdrawn the money on my behalf and used it for her personal reasons. how do i go about laying charges against her?

      1. i was told the only thing i need to do was to deposit money addressed to the receiver and then an account will be created for me of which i did. i will often call to esquire about the progress of my account which i didn’t have access to. last week i have decided to cash my trade and i was told by this account manager( who was trading on my behalf) that it will take two to three weeks. i therefor inquire again in three weeks and she told me my money was cashed but she has borrowed her self some of it as she has personal crises. my question was how did she get the money to be released to her name whiles i’m the account holder. please advise of how i can retrieve my money from 24 option

  22. I am considering trading binary options with 24option through a managed account. The people I have contacted I met through Facebook and they claimed to be the Account Managers with 24option. Kindly, advise on how can I verify this before I deposit my initial investment. Does 24option have or offer this kind of service at all? Or are these guys independent?

    1. Hi Zethembe, first of all, 24option have disabled their binary options trading platform. Secondly, they do not offer such service. So do NOT trust those scammers that have contacted you.

  23. 24Option offers different types of account, Basic, Silver, Gold, and Platinum. When I opened my account, my account manager talked me into upgrading to Silver with min. deposit of USD5000. With this account, I would be able to trade together with him (a pro). On the first day of trading, we made a profit of USD1000 because he was careful and didn’t make me trade with very high amount. On the second day, he was completely the opposite and traded with high amounts resulting in complete loss. Within a time frame of 15 minutes, I lost more than USD6,170. He hanged up on my before the last trade expired and didn’t get to hear from him again. I have been trying to get in contact with him through the Live Chat of 24Option but to NO avail. Im not sure what to think of 24Option but definitely nothing positive.

Leave a Comment

General Risk Warning:
The financial products offered by mentioned companies carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.
Copyright © 2018. All Rights Reserved. x Binary Options