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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 But only if a customer has accepted a bonus AND has not completed all procedures needed for the bonus to be withdrawn.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

Have you been scammed by any broker? MyChargeBack might be able to help you! Fill the form below.

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More information about 24option



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

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

  1. hi sir 

    I have  a problem  I register  under  a company  and  no I want  withdraw and  the asking  me to pay 10% before  I can withdrawal and  and  said  I have  to sent  the money  cash  so that the pay  refunds tax to IRS and  I have  about  $10600 in my account  I asked  why can the not  make  automatically when am doing  my transfer  the said  no it can  go 

     please  sir I wish  to know  if it is not scam  ?? the company  name  is

  2. When I got scammed by my binary option broker last year, I was suicidal after several failed attempts of call back. Till I was referred to mychargeback get my money back, they was able to recover a total of 120k I lost last year to Glenridge capital, they are the best and I advise there contact if your in need of a full recovery.

  3. Does someone by the name of Jake Gelnik work for 24 options?? He called me last week to set up a Skype call but I haven’t heard from him. Has anyone else received these calls?

    I feel like this is a ll a scam.

  4. I recently found a suggested post on Facebook an ad for trading with 24option and that she was the best and could make you thousands each week. So I messaged her. She sent me pictures of her ID, her credentials, screenshots of her work and convinced me to invest. I ended up buying $500 usd worth of bitcoin and she set up an account for me and sends me updates of he account each day. But yesterday she told me that I had to pay her the tax so she could pay the IRS before I can withdraw the money. Does this sound legit to you?

      1. Hi i wanted to ask if the is someone by the name Mike Josh who works for 24option as a manager.And also want to understand about account being how do i verify thee account,should i deposit money for it to be verified?

  5. Don’t trade with 24 options, while the time you want draw out the money they have thousand oe reason to blocking you.

  6. I met a lady on Instagram who does binary trading and she offered to assist. I sent her $250 and she opened an account in my name and started trading for me. I received daily updates on my account. In withdrawal days I received an email saying that my trade was paused because I made way more money than I invested and that I would need to pay $900 to upgrade my account in order to activate my trade and that I could withdraw my money 24 hours after trade. Something doesn’t feel right is this possibly a scam?

  7. Henry A crawford, opened me an account $250.00, requested the tax money $350.00, which i paid, agreed to release the funds on my account when the comission was paid. I sent $350.00 he then refused to answer my calls and blocked me!

    scammed $900.00

    1. Dear Lindsey: as we have mentioned many, many times – never trust anyone on the phone, who pretends to be working for a certain company. Those are scammers and should be avoided. 🙁 So sorry to hear.

  8. Someone by the name Eric Wales on Facebook said her will crate a blockchain account for me then I will make deposit of 50$ and earn 34$ everyday for 14day is this real and he said it mining with is this true please

  9. I have an account manager who says I have to pay a 10% irs charge. I’m in Australia and understand this to be taxes?? Would this be correct?
    I have paid extra to clear the irs charge on my first withdrawal, but still waiting on funds.
    She sends me screenshots, but I don’t have any login details myself. Is this normal?

  10. I just met this guy on Facebook and trading for me. In withdrawal days he message me ,that i need to pay withdrawal tax fof $600 coz Im not from United States So that i get myfunds as soon as i pay up the fee. Is this right that i have to pay the said amount before withdrawal ? Thanks

    1. No! Sheygurl, I suppose it’s a scam and I am 99% sure. Never trust anyone on facebook who randomly approaches you and wants to “help you”

  11. Option24 it is a FRAUD. I registered in this website with all the information and documentation that I have to add. I contribute with 250€ to operate and when I traid to operate I had a tecnical problem and I could not operate. I talked with them a lot of times, trying differents ways, differents devices, differents browsers with no success. I asked them to repay my 250€ and they just repayd me 200€ because they have a clause that you have to pay 50€ if you do not operate. I demanded it a lot of times and this is the only reason that they say to me. Unbelievable. I DO NOT RECOMMEND YOU OPERATE WITH OPTION24.COM

  12. This is not directly connected with 24option but it is needed to be said. If someone like Annika Nilson offers you some sort of free strategy for binary option – don’t believe her. It is a very well organized scheme. How it is done?
    She’ll open email, Perfect Money and 24option accounts on your name for trading. You’ll have no control over this as according to her you can’t trade. She’ll show you results and you’ll think this is working. But when comes time to withdrawal you won’t get a single dollar. She’ll get all money on her Perfect Money account and soon on her bank account and you are totally helpless. Just don’t do it.

  13. anyone who know Mr Alexis Alan Alberto account manager of Iq option tell me about him pls I meet him on Facebook he said he can help me.

  14. 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.

  15. 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

  16. 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!

  17. 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

  18. 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?

  19. 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

  20. 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

  21. 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

  22. 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

  23. 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

  24. 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.

  25. 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

  26. 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

  27. 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*

  28. 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?

  29. 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.

      1. Hi there, if you say 24option is a scam because brokers shouldn’t call people like this, then can you provide a good company, binery other than 24option? People are searching for the needle in the haystack. Everybody’s talking about scammers but no good place are mentioned.

        1. Hi, I have to recommend IQ Option and High-Low. Neither of them calls people unless traders ask for it. And if anybody approaches you on FB saying he will help you – it’s a scammer who doesn’t have anything in commom with the company itself.

  30. 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!

  31. 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.

  32. 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!

  33. 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

  34. 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

  35. 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.

    2. It it real for opt24 to change an amount from $250 to $100. To start trading.they say its for tue the South africans

  36. 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.

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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.
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