24 Option explained by professional Forex trading experts the “ForexSQ” FX trading team.
24Option Broker Review
Formally known as Bank De Swiss, BDSwiss is a reputable European Binary options broker, offering trading in over 200 underlying assets on the most popular SpotOption binaries platform under quite competitive trading conditions.
BDSwiss` customers get access to comprehensive training materials to help them optimize their trading strategies. The broker offers rich education center on its website, online webinars, live seminars, market news, economic calendar and more.
BDSwiss offers a single type of account, which is rather unusual, as most binaries brokers differentiate their clients based on their initial deposit. This means that BDSwiss clients may not choose between different account types, but ion the other hand, treating all clients equally is a good thing.
Besides, BDSwiss does not offer demo account either. While many consider this a disadvantage, it is also true that many demo platforms do not mimic the actual trading on the site.
The Company. Security of Funds
BDSwiss is one of Europe’s leading financial institutions specializing in Forex/CFD and Binary Options trading. It also appears to be quite popular with traders.
BDSwiss is operated by BDSwiss Holding Plc, a Cyprus Investment Firm (CIF), licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC).
In order to provide a certain level of security, Cypriot financial watchdog applies a set of rules and requirements to license holders.
First of all, CySEC requires Cyprus-based brokers to hold a minimum of €730 000 in order to prove their good financial standing. Moreover, all CySEC-regulated companies are members of the Investor Compensation Fund, which may cover tour investment loss to a maximum of 20,000 EUR per person in the event that the broker becomes insolvent. Such compensation schemes serve as an additional guarantee to clients’ funds.
In addition, as CySEC is part of the European MiFID regulations, and the companies regulated by the Cypriot financial watchdog are free to operate in all EU Member States.
Trading Options: Call/Put, 60 seconds, Pairs, Long term, One Touch, Ladder
Assets: Stocks, Indices, Currencies, Commodities
Expiry Times: 60 sec, 90 sec, 120 sec, 180 sec, 300 sec, 30 min, 1h, 2h, 4h, 8h, 12h, 2d, 3d, 4d, 5d, 6d, 7d
Minimum Initial Deposit
The minimum initial deposit for clients of BDSwiss is $100, which is attractive, since most binaries brokers usually require $200 – $250. For instance, Cherry Trade, a broker operating out of the Caribbean. requires $200 from traders to open an account.
Min/Max bet size
The minimum bet size with this broker is just $5 (for 60 Second Options), which is on the lower end of average. In comparison, with OptionsClick one is able place a trade with at least $10. Such low minimum bet sizes allow better risk management.
The payout provided by this broker varies by different options, but is usually between 65%-85%, which is on the upper end of average.
In comparison, HY Options’ payout for the EUR/USD pair A Day binary Up/Down for EUR/USD offers a payout of 85%. 60 Seconds Binary Options have a payout of 70%.
Of course, the higher the percentage payout offered by the broker, the larger the traders return would be.
Like many binary options brokers, BDSwiss supports the most widely used binaries trading platform, SpotOption. All popular binary options are supported: Call/Put, 60 seconds, Pairs, Long term, One Touch, Ladder. What is more, it offers some additional option features (In the overview of open positions).
Instead of letting your option expire, you can use “Sell”, “Double Up” and “Rollover” to adjust your option individually, if, for example, market conditions change.
As the name suggests, “Sell” gives you the opportunity to sell your option before it expires. If you are confident in the current trend, you have the opportunity to “Double Up” which will open a new option with the same conditions of your open position, but at the current price. Finally, if you think your option needs more time to move in the desired direction, you can extend the expiry time by using the “Rollover” feature.
Unlike most binary brokers, BDSwiss does not have a set bonus structure. On-deposit bonuses are not offered on a constant basis, but are instead available at various times for a limited duration.
Instead, this broker offers $100 refer a friend bonus.
Methods of Payment
There are a number of payment methods available to BDSwiss’ clients: Credit/Debit cards, Bank Wire, Skrill, Neteller, Giropay, eps, Sofort & Ideal.
Keep in mind that withdrawals under €100.00 will be charged with a €25.00 processing fee.
24Option Broker Review Conclusion
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