Why is this scam
We found a lot about 24option. It was no surprise, because according to the statistics, 24option is the 2nd largest binary options broker in the world.
24option was a binary options broker established in 2010 with headquarters in Limassol, Cyprus.They are owned by Rodeler Ltd, who are based in Cyprus. They are regulated by CySEC, but do have offices across Europe, including Ireland. The London office has been closed. Some may think this is s red flag, but, in fact, that is completely normal for binary options brokers as 24option were. Most of them have their headquarters in Cyprus, because of regulatory purposes. The last news we found about them is that they closed their binary options trading platform. From now on, you can only trade CFD and Forex at their website. This includes Bitcoin forex pairs.
Most of the complaints are about the “account managers”. They constantly call you and they want you to deposit more and more money. They are so persistent and annoying. Red light is turned on.
Let’s see the other signs.
Many complaints were about the account managers that give many wrong signals. So the trader loses the trades and they get the money. Some traders claim that they give fake signals on purpose.
The first issue that comes to mind is bad news for US customers; 24Option no longer serve US clients due to Regulation in the EU. What sucks are the fees. The one we dislike the most is the dormant account fee. If you are inactive for more than two months, they begin to charge you 80€/month (or in equivalent currency) and 120€ after 3 months and more after that. This means that you really need to be ready to trade before you decide to deposit.
The signs of confirmation
People complain, that they were offered free money (24option bonus) but then when it came down to paying customers out, there were problems. This situation can occur.
24Option accepts traders from Thailand, United Kingdom, South Africa, Singapore, Hong Kong, India, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Traders can not use 24Option from Belgium, Iran, China, Bosnia And Herzegovina, Israel, France, Japan, Australia, Canada, United States.
There are more complains: “This company is the worst and also all the account manager that push the people with the martingale and lose all money”
“i had the serious misfortune of trusting kyri kyirakou of 24option binary after he induced me to invest money in a binary options program that did not function in ‘good time’ or corresponded with its recommendations n who has continued to harass me for well over a year after I closed my account n repeatedly asked to leave me alone.. they continue to telephone me late at night, once or twice a week n wake the entire household..”
”Last year, when i traded with them, i already put this to my manager there at 24 Option. He said he would add it to his manager to see whats wrong. I lost a lot of money with them this way, i discovered it to late. I closed my account with them and got back my last 2 grand of the 10 K I deposit.”
Recommendation – We found that 24option is a serious business and is not here to grab some money and go. But be careful in any case.Some brokers are just a Scam, some just Suck. 24Option is a member of group Suck thank to their previous history.