Fear of scam is present in almost any kind of business dealings, and online trading is not an exception to this. Especially when one considers the number of forex and CFDs brokers present on the market, its easy to understand how traders might be a bit unsure which brand they will use. While 24option is a well-known and respected name, for those South African traders which are new and are only venturing into online trading need to feel secure before they deposit their hard earned money. We have never received a complaint about 24option from any South African traders. We think they are a trustworthy forex broker.
A quick look around the platform will show that t24option provides with all information traders will find useful and necessary. Under Legal tab all rules and conditions of conducting business with 24option are given in full. This is a score for transparency – every condition should always be presented by the broker so the trader can decide if its in her own interest.
Education Centre provides extensive info on trading while FAQ section answers all those questions which traders find crucial.
24option also makes sure they use the latest security measures on their platform which is delivered by Thawte, a trusted certificate authority, and which provides 128bit SSL encryption technology. This means that all data that is being exchanged between customer and broker is encrypted and thereby protected from hacker attacks who would try to interefere and get the data.
This points toward a fact that South African traders are dealing with a broker which makes certain their customers can always rely on the newest technology.
Lastly, what those traders who opt for 24option get is also a broker which is regulated, which does not dispel a possibility of 24option scam, but it does provide traders with additional confidence that the way broker behaves is set by a government authority.
24option Withdrawal Process
One point of interest to South Africans looking to select a broker and start forex and CFDs trading is certainly a withdrawal process and what it entails.
24option withdrawal is, unsurprisingly, a simple and straightforward process which should not pose issues to traders.
Minimum withdrawal with 24option is set at only $10 which is beneficial to traders.
The process itself is uncomplicated and demands that traders, once they have logged in, proceed to the banking page.
Once they are there, they select the amount they wish to withdraw from their account and then simply press submit. That will initialize the 24option withdrawal process which can take up to 5 business days until the funds are transferred to the clients account, provided all prerequisites are in order.
That means that in order to have a successful 24option withdrawal, South African traders have to submit KYC documentation consisting of proof of address, copy of the credit card and copy of the photo ID which serve as a means to protect both the client and the broker from any form of wrongdoing.
When it comes to payment methods available to South African traders they are:
- Credit/debit cards: Visa, MasterCard, Discover, Diners, Switch, JCB
- Bank Wire Transfer
- E-wallets: Netteller and OKpay
South African traders also need to keep in mind that 24option has withdrawal fees and those are:
- Credit/debit cards: 3,5%
- Bank wire: $30
- E-wallets: OKpay and Neteller: 3,5%
What is Trading with 24option Like?
As a regulated broker, 24option offers their registered traders a possibility of a satisfying trading experience.
Traders around the world have had the opportunity to do forex and CFDs trading with 24option since 2010 and since they have only continued to grow and improve which has won them legions of satisfied traders, both in South Africa but around the world too.
As a regulated broker, 24option is under obligation to follow the rules and regulations set by this authority which translates to further security for their traders.
Minimum deposit necessary to start trading with 24option is set at $259 which is an average in online forex trading industry and traders can opt for one of the most popular four currencies: USD, EUR, RUB, JPY and GBP and once selected, it is not possible to change the currency afterwards.
Trading with 24option provides South Africans with several trading platforms – mobile, MT4, web trader…
The platform itself is modern, user-friendly and utilises MetaTrader trading software to deliver the ultimate trading experience delivering 24option’s promise of the intuitive, efficient and effective platform.
Lastly, the platform is multilingual and is available in Polish, Norwegian, Dutch, French, German, Italian, Japanese, Spanish, Russian, Arabic, Portuguese, Swedish and English.
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