For the past 5 years, 24option is present on South African market and provides traders with an innovative trading software for mobile, desktop or tablet. 24option South Africa is a brokerage, owned by Rodeler Ltd. in Cyprus. To know more about trading with 24option, read the rest of our 24option South Africa article with many useful trading tips.
24option South Africa
24option falls in the category of regulated brokers and South Africans who are looking to trade with this broker will have a fine choice of underlying assets to choose from.
24option minimum deposit is set to $250 with lowest investment of $24. South Africans can trade with a variety of underlying assets, such as currencies, stocks, commodities and indices. A lot of these underlying assets are traded on Johannesburg Stock Exchange (JSE).
24option in South Africa Accounts
24option South Africa offers different accounts to traders, residing in South Africa. Account types that are available to trade with are listed by order: Standard, Silver, Gold, Platinum and Diamond account. Overall, these accounts are different by invested amount of money, trading features and number of trading alerts. 24option minimum deposit of $250 will give you access to the standard account. For example, education materials are available for all types of accounts and include ebook and trading tutorials. For more upgraded accounts, traders can also use personal sessions and professional trading chart.
Same thing can be applied in aspect of very useful trading alerts, which are available in all accounts besides Standard one. In Standard and Silver account, traders have one free withdrawal per month, while in others, all withdrawal are unlimited.
Option 24 Trade South Africa
Our readers would be happy to know that 24option South Africa offer on their platform an exquisite range of education materials, demo account and 24option mobile app.
All above mentioned features are meaningful for those who participate on financial market. Instruments, such as ebook, a variety of trading tutorials and webinars are very useful because they assist traders during trading process. These materials cover both basics and advanced trading. Under 24option blog, traders can get latest market updates of particular underlying assets which are being traded.
24option South Africa mobile trading actually means that this broker has created mobile app for traders to keep trading on smartphones and tablets as well as on computers. This is great feature for those South Africans who love trading when they’re on the move. But probably the most widespread 24option South Africa service is use of demo (trial) account.
This is seen as a great opportunity to practice forex trading and improve trading skills at no risk invested. With no real money involved, demo serves as a practice field where it is possible to use a selection of strategies and tools to see how will they react on a financial market. With growth of trader’s confidence in demo, traders can afterwards switch to real account type and explore more strategies.
Before making any deposits, traders should send 24option proof of address, copy of photo ID and credit card copy in order to confirm identification. Very popular payment method in online trading industry are e-wallet providers. With 24option South Africa, traders can deposit with Skrill Moneybookers and Neteller.
Other deposit options are through debit/credit cards (Visa, Visa Electron, Mastercard, Dankort, JCB, Discover Card, Laser, Cartasi, Diners Club and Liberty Rose) and transfer via bank wire. Withdrawals usually last up to 5 business days and lowest amount to withdraw is $250. South Africans only have to keep in mind that the currency chosen when depositing has to remain the same during withdrawing.
In case traders want to dial 24option, they can do that on South African phone number +27 10 500 8042. Other channels of communication are through live chat and email [email protected]. Customer support is truly one of the most significant element in forex trading. A good agent on live chat, as we tried it, can greatly assist you when trading with different underlying assets.
It is always recommended to trade with a broker wich has been on the market for a longer period of time so 24option could be an interesting choice for South African traders. Their speed and efficient customer support is important, especially for new traders, interested in this field.
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.
Is 24option Safe?
A quick look around the platform will show that 24option 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 interfere and get the data.
24 Option Scam in South Africa
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.
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%
24option Scam or Legit in South Africa
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.
24option minimum deposit necessary to start trading with 24option is set at $250 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.