24 Prime Option is another forex broker that plays fast and loose regarding valid information. In the review below, we take an in-depth look at the 24PrimeOption.com allegedly offers. This review basically answer the questions: is 24 Prime Option legit? Is 24 Prime Option good? The review covers aspects of its licensing, its account types, its leverages, its withdrawal and deposit methods. Read through our review to see what we and other experts have to say about 24 prime option forex broker.
Table of Contents
24 prime option Trading Platform
Twenty-Four Prime Option is designed in a manner that overwhelms the viewer with vague information, they do this in a bid to obscure the fact that most of the site is filled with irrelevant information. At first glance we discover that this broker doesn’t broker support neither the MT4 nor the MT5 trading platform. In fact, it does not mention what platform that it supports. They also do not mention leverages throughout their presentation
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24PrimeOption Account Types
In this portion of the review, we aim to explore the account types a broker might have. We check the account with its corresponding deposit and leverage. Doing this gives a clearer idea as to how a broker might work.
This broker has four account types,
- Bronze – $1,000
- Silver – $5,000
- Gold – $10,000
- Ultimate – $50, 000
One thing to mark is that the amount for the entry account is four times the acceptable minimum the industry has set.
24Prime Option Deposit and Withdrawal Methods
Deposit and withdrawals are the two most important transactions for us, because the end goal of trading is making a profit. In this section, we look at these methods to make sure everything is okay with it.
According to the website, DLA Capitals cites its deposit methods as WesterUnion, MoneyGram, Bitcoin.
One thing to keep in mind is that there might also be withdrawal conditions concerning accounts that take advantage of the bonus promotion. Some fraudulent brokers stipulate that a trader must achieve a certain trading volume in order to be eligible for withdrawal. This is purposefully done in order to stop traders from making a withdrawal
Is 24Prime Option Licensed?
Licensing is another important part, because a regulated broker can be trusted to some extent not to do anything fraudulent. We do this part of the review by first checking the name of the company attached to the broker. Then we run that name through various regulatory bodies to discover if it is actually regulated.
This broker claims to be licensed by the CySec in Cyprus when in fact the Cysec on we found out that, as ofJuly 7, 2020 CySEC flagged the website as an unregulated broker
Traders should always ascertain if a broker is licensed before investing in them. They should check regulatory bodies such as the FCA in UK, ASIC in Australia, CySEC in Cyprus, BaFin in Germany, CONSOB in Italy and many others.
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Licensed in Australia(ASIC) and Cyprus(Cysec)
Accepts Traders Worldwide
Minimum Trade Deposit $100
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Conclusion
We wouldn’t recommend using this forex brokerage, we are not impressed with the vague information they have provided.
In conclusion, we wouldn’t advise or recommend you to trade with active brokers as they don’t give any valid information concerning if they are a regulated broker or not.
24primeoptions.com is likely a platform run by scammers, trading with them would likely result in you losing your money. There is a tremendous risk on any transactions interested traders may conclude with the brokerage and we deeply recommend they look elsewhere for viable trading option.