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24option Review | Security, Apps & Features | Invezz

24option is a CFD (Contract for Difference) trading platform that supports cryptocurrency trading. CFDs allow you to trade against the value of an asset without ever actually owning it (with CFDs you never actually buy any cryptocurrency). These trades are leveraged so you can maximise on potential profits. In addition to cryptocurrencies, 24option also allows…

24option Overview

What can I do with 24option?

24option is a CFD (Contract for Difference) trading platform that supports cryptocurrency trading. CFDs allow you to trade against the value of an asset without ever actually owning it (with CFDs you never actually buy any cryptocurrency). These trades are leveraged so you can maximise on potential profits. In addition to cryptocurrencies, 24option also allows for CFD trading in forex, stocks, commodities, and indexes.

Exactly what you can do on 24option depends on the amount you put into the platform. There are various account types that offer access to different extra features. Here’s a summary of them:

  • Basic account. This level requires a minimum deposit of £250. You will receive one free withdrawal request, free educational resources, and customer service round the clock. The basic account allows for trading under the MetaTrader4 in addition to their own proprietary mobile and web-based platform.
  • Silver account. To unlock this account, you must make a minimum deposit of more than £2000. On top of the benefits of the basic account, you are entitled to a one on one tutorial on trading analysis, explanations on common trading strategies, and the removal of maintenance fees, and will be able to assist you on trades.
  • Gold account. The Gold level offers the same benefits as the silver account but also includes: emails and SMS alerts through the trading center, one monthly free withdrawal, and a one on one MT4 (MetaTrader4) course. Your account will also be overseen by a senior manager. The minimum deposit needed for the Gold account is £25,000. Gold traders also benefit from an extra two percent return on each trade they make.
  • Platinum account. In addition to all the above features, the platinum level offers you access to a special research website as well as live training sessions. Withdrawals also become completely free. To unlock this level, you need a minimum deposit of £50,000. You also benefit from an extra 4 percent return on every trade you make. You will also be offered more profitable rates on spreads.
  • Diamond account. Diamond level traders are effectively Platinum users who have been personally selected to enjoy discretionary benefits from 24option, such as complimentary tickets to football matches for Juventus FC games. This level does not have any specific minimum deposit and can only be achieved at the discretion of a senior manager.

Which cryptocurrencies can I trade?

24option offers CFD trading for the following cryptocurrencies:

  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Bitcoin Gold (BTG)
  • Ethereum (ETH)
  • Ethereum Classic (ETC)
  • Dash (DASH)
  • Litecoin (LTC)
  • Monero (XMR)

Payment methods

Before you can deposit funds and start trading on 24option, you will need to show proof of residence and identification on 24option. This will be covered in full below. 24option allows for a wide range of payment methods, including:

Bank Transfer

You can fund your 24option account through a simple bank or wire transfer. Funds can take up to 5 days before they show up in your account. Withdrawals usually occur within 7 days.

Debit/Credit card

Deposits made using this method are typically instant, whereas withdrawals depend on the processing time of your bank, and can take up to 5 days. The credit or debit card you use must be registered to your name.

Electronic wallets

You can fund your 24option account with Skrill, Neteller, Giropay, and Sofort. Deposits should arrive in your 24option account instantly, and withdrawals can take up to 7 days. Note that 24option does not support PayPal.

24option charges withdrawal fees unless you are a Platinum or Diamond user. The exceptions to this are if you are using your free monthly withdrawal as a Gold user, or if you are withdrawing for the first time as a Basic account or Silver user. The fees are as follows:

  • Credit cards. 3.5% fee
  • Skrill. 2.0% fee
  • Neteller. 3.5% fee
  • Wire transfers. €25, £20 or ¥3,000 depending on the currency used

What devices can I use 24option on?

24option support both web-based and mobile trading. Its web-based trading allows for Windows, macOS, and Linux users to trade easily. The mobile trading apps are also optimized for iOS and Android. You can, therefore, trade with 24option using:

  • Desktops
  • Laptops
  • Mobile phones
  • Tablets

How easy is it to use 24option?

24option offers quite a simple, user-friendly trading platform, which is easy to use if you have some prior trading experience. After signing up and providing the relevant information, you can immediately start to look at CFD trading for cryptocurrencies by selectively filtering your assets on the top left corner of the page.

Intermediate and advanced traders can also have the option of trading with MT4 (MetaTrader4) if they wish. As a first-time trader, looking at a trading platform could be quite a daunting experience, which is why 24option provides a lot of educational tools and free advice, even on lower-tiered accounts. It is advised that users make the most of this before they attempt to trade and take advantage of the free demo offered by 24option.

Countries supported

24option supports all of the following countries:

  • Austria
  • Bulgaria
  • Croatia
  • Cyprus
  • Czech Republic
  • Denmark
  • Estonia
  • Finland
  • Germany
  • Greece
  • Hungary
  • Iceland
  • Ireland
  • Italy
  • Latvia
  • Liechtenstein
  • Lithuania
  • Luxembourg
  • Malta
  • Norway
  • Poland
  • Portugal
  • Romania
  • Slovakia
  • Slovenia
  • Spain
  • Sweden
  • The Netherlands
  • United Kingdom

Regulation

24option is owned by Rodeler Ltd, a Cyprus Investment Firm (CIF) that operates under the jurisdiction of the Cyprus Securities Exchange Commission (CySEC), authorized and licensed under the CIF license number 207/13. Rodeler limited offers its services to all countries within the European Economic Area, except for Switzerland, France, and Belgium.

Account verification

Before you can fully operate a standard account at 24option, you will be required to verify your account by providing the relevant documentation for proof of identity (POI) and proof of residence (POR). These include:

  • A valid passport/national ID or a driver’s license. The relevant document and its contents must be fully and clearly shown on the photo you upload, including front and back sides if possible.
  • Bank statement/Utility bill. This document must be dated within the last 6 months, and must clearly show your address in full.
  • Credit/Debit card. Although 24option requires that you must take photos of the entire card (front and back), you can still cover the first 12 digits of your card number, as well as the CVV code.

Customer support

The customer support at 24option has been designed to cater for the global clientele and thus the website fully supports multiple languages, including English, Russian, German, French, Polish, Portuguese, and Spanish. You can find its support services 24/7 through the following means of communication:

  • Email
  • Live Chat
  • Web Contact Form
  • Telephone

CFD platform

First impressions

24option’s proprietary web-based trading platform has a sleek, simple, and intuitive design interface for traders. The platform provides a lot of educational content for first-time users who might struggle with understanding what they are looking at. You can look at all the available trading pairs right from the landing page, and their customer service is always one click away.

24option also offers the MT4 (MetaTrader4) trading platform as an alternative option, which might be beneficial to more advanced trading users. However, looking away from the website, a slight cause of concern is the history of fines that 24option has incurred from its regulator, CySec (Cyprus Securities and Exchange Commission), for breaches of conduct. These mostly date back to 2016, however.

What currency pairs can be traded?

All cryptocurrencies offered for CFD trading at 24option can be paired with USD, EUR, and GBP, with the exception of Monero and BitcoinGold, which can be paired with USD. The full list of available pairs are listed below:

  • BTC/USD
  • BTC/EUR
  • BTC/GBP
  • BCH/USD
  • BCH/EUR
  • BCH/GBP
  • BTG/USD
  • DASH/USD
  • ETH/USD
  • ETH/EUR
  • ETH/GBP
  • ETC/USD
  • ETC/EUR
  • ETC/GBP
  • LTC/USD
  • LTC/EUR
  • LTC/GBP
  • XRP/USD
  • XRP/EUR
  • XRP/GBP
  • XMR/USD

Are there trading fees with 24option?

There are no direct trading fees at 24option when you enter into a transaction, as 24option takes its cut from spreads. The concept of spreads is explained directly below. However, 24option does charge fixed withdrawal fees for some members.

If you are a Platinum or Diamond member, you will not have to pay withdrawal fees. If you are a Gold member, you are entitled to one free withdrawal on a monthly basis. If you are a Basic Account or Silver member, you will not be charged a fee for your first withdrawal. If none of these apply to you, the fees are:

  • Credit cards. 3.5%
  • Skrill. 2.0%
  • Wire or Bank transfer. £35 / €35 / $35 / ¥4000

What is the minimum spread?

When trading assets on a CFD trading platform, the minimum spread is the difference between 24option’s offered ask (selling) prices for a given asset, in comparison to the market bid (buying) price. 24option doesn’t specify the level of its spreads, but they are clearly displayed when opening a trade.

Can I trade cryptocurrencies with leverage?

Yes, you can trade cryptocurrencies with leverage through 24option’s CFD trading platform. The platform offers a leverage of up to 1:5 for major cryptocurrencies like Bitcoin and Ethereum. Other coins like XRP/Ripple have a leverage of 1:3. Considering how volatile the cryptocurrency market is, it is always advisable that you work with as little leverage as possible in order to minimize potential losses as they can be as big as potential wins.

What are the margins required?

The margin is the minimum amount of money you need to put in in order to open a specific leveraged trade. Because of the volatility of cryptocurrency assets, margins on 24option are not fixed, so you will only be able to find what margins are required when you are looking at a specific trade.

Can I open long and short positions with 24option?

Yes. You can open long and short positions with 24option, courtesy of the fact that this it is a CFD platform. Opening a short (selling) position is advisable when expectations are that a given asset will drop in price. Contrastingly, a long (buying) position should be opened when you project that prices are due to go up in the near future.

Are there withdrawal and deposit limits?

Yes, the withdrawal and deposit limits depend on the payment method used. For a credit or debit card, the minimum deposit is £250, €250, ¥50,000. Electronic wallets like Skrill and Neteller also require the same minimum deposit as a credit or debit card. For a bank wire transfer, minimum deposits are £1,000, €1,000, and ¥100,000. 24option also have a set maximum daily withdrawal limit of €10,000.

Summary of 24option CFD trading

If you are looking to trade cryptocurrency using CFDs, then 24option is definitely a viable option, as they offer the ability to transact with a larger amount of cryptocurrency pairs than most rival CFD brokers. The level of leverage you can apply to trades is also one of the highest around when it comes to cryptocurrency, with some coins (such as Ethereum) allowing leverage of 1:5.

24option also provide extensive educational resources as well as 24/7 customer support, something that is quite uncommon to other platforms. However, traders can only trade 24/5 due to the lack of ECN (Electronic Communication Network) trading support.

General

Extra Features

Mobile apps

24option accommodates traders with smartphones through their fully optimized Android and iOS mobile apps.

MetaTrader 4 platform compatibility

24option allows for users to trade on the MT4 platform in addition to their own web-based platform. They also provide educational content on how to use it if you choose to become a Gold or Platinum member.

Conclusion

24option provides a simple and intuitive trading platform that caters mostly to new and intermediate traders. Experienced traders can make use of the MT4 compatibility as well, and trade on the MetaTrader 4 platform instead. The website also provides an abundance of educational information, as well as a free demo for more inexperienced traders.

Regardless, first-time users who do not wish to deposit large sums of money may feel that they cannot make the most out of 24option due to the lack of benefits for lower-tiered members. Alternatively, some users might feel more secure in making trades with 24option due to all the additional support that members receive when depositing more, which goes far beyond what most CFD trading platforms provide their users. Ultimately, 24option provides a large number of cryptocurrencies, with more currency trading pairs than most CFD platforms, making it a tempting option for traders.

The fees offered by 24option are competitive, and they offer some of the highest leverage on crypto CFDs of any platform around. This, combined with the number of coins you can trade on the platform, means 24option compares favourably to many other brokers out there.

Unfortunately, 24option is not seen as a particularly transparent or professional CFD trading platform. The platform was fined for several breaches of regulation by CySec (Cyprus Securities and Exchange Commission) in 2016, with regard to their binary options trading services. This is not a good look for a trading platform, particularly when there are alternatives brokerages that carry cleaner records. Users should take heed of this information before they make their decision regarding which CFD platform they might want to trade with.

How to set up an account

Decided to sign up for 24option? Great, here’s how it’s done:

  1. Go to 24option’s official website and click on ‘sign up’ located on the top right section of the landing page.
  2. You will be directed to a new window where you can choose to sign up for either a demo or real account. The demo account is free, but f you want to head straight to creating a real account right away, you will need to deposit at least £250.
  3. Signing up for a demo account is straightforward, all you need is to fill in your full name, email, and phone number.
  4. If you want to move on from using your demo account, you can do so by clicking on ‘upgrade to real account’ on the top right corner of the trading page.
  5. To create a real account, you will need to submit specific verification documents to prove your identity and address, including:
  6. A government issued ID card, passport photo, or driver’s license
  7. Utility bill or bank statement dated within the last 6 months
  8. Copy of your credit card (including the back and front). You can choose to blank out the first 12 numbers of your credit card number, as well as the CVV code
  9. After gaining verification approval, you are now ready to start trading!
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RoboForex adding EOS Cryptocurrency

RoboForex adding EOS Cryptocurrency

RoboForex announced today adding EOS, a cryptocurrency which is now available for trading with the broker on both MT4 and MT5 platforms.

Roboforex added EOS CryptocurrencyCurrently, RoboForex clients have 7 crypto instruments to choose from.

RoboForex keeps expanding its crypto portfolio.

The latest addition is EOSUSD, which is already available to the clients through MT4 and MT5, alongside with six other crypto pairs:

BTCUSD, ETHUSD, BCHUSD, DSHUSD, LTCUSD, and XRPUSD.

The EOSUSD trading conditions are the following:

  • minimum lot size: 100,
  • minimum increment: 0.01,
  • leverage 5:1.

EOS is a cryptocurrency that was introduced in 2017 and is based on blockchain and smart contracts. Its key features are scalability, decentralized apps, and huge throughput (a few million transaction per second).

This is another step towards developing our crypto portfolio.

Our clients do value the flexibility and state of the art technologies we offer them As for us, our mission is meeting their expectations and constantly improving the trading conditions by opening the door to new instruments and opportunities.

says Denis Golomedov, ;Marketing Director at RoboForex.

Roboforex and Cryptocurrency

This Broker has been on the forefront of crypto trading on the Metatrader 4 and Metatrader trading platforms from the beginning and pushing for more and more trad-able assets to be added to their offering .

it took this broker a little bit of time but now that they got them selves into the cryptocurrency trading arena they come to lead the pack. this in combination with their the trading platforms they are offering makes this a broker to take notice of.

as yet there are not enough brokers that offer metatrader 5 and especially one where you are able to trade bitcoin ethereum, litecoin and now also EOS.

About RoboForex

RoboForex is a brokerage company catering to clients from various countries. The broker’s focus is providing the traders with access to its own financial market platforms.

RoboForex Ltd is a licensed company (License No. IFSC/60/271/TS/17).

 

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Local bitcoin Trader Jailed for Money Laundering

Indicted: Local bitcoin Trader Jailed for Money Laundering

Local Bitcoin trader, Theresa Lynn Tetley, also widely known as Bitcoin Maven has been indicted for indulging in illegal bitcoin-for-cash transactions. According to the Central District of California, the LocalBitcoins.com trader has been sentenced to 12 months in prison.

She has also been handed a three-year supervised release and a $20,000 fine. A former real estate investor and stockbroker, the court ordered her to relinquish $292,264.00 in cash, 25 assorted gold bars, and 40 bitcoin.

money launderingTetley pled guilty to one count of operating an unlicensed money exchange business, and another related to money laundering. Her case is the first of its kind in the Central District of California.

Tetley was procedurally supposed to register her business with the Financial Crimes Enforcement Network, an agency of the United States Department of the Treasury.

The agency is responsible for analyzing transactions to curb money laundering and related financial crimes. She also failed to implement standard anti-money laundering protocol, including reporting of certain financial sources as per the requirements of this type of business.

Tetley is said to have traded over $6 million for clients within the United States and charged higher rates as compared to other traders within the LocalBitcoins platform.

Also noted in the court documents was that Theresa Lynn laundered bitcoin for a customer who had been suspected of having acquired the cryptocurrency through illegal activities, including drug sales on the dark web.

She also carried out a bitcoin to cash transaction for an undercover agent who had explicitly declared that his bitcoin was tied to narco-trafficking operations.

According to the report, Tetley’s service was responsible for fueling the growing use of cryptocurrencies to launder money and supported a black market system set up purposely to circumvent the law.

The organizations involved in her investigation included the IRS Criminal Investigation and the Drug Enforcement Administration.

Just One of Many

That said, the government has been committing significant resources to counter the crypto – dark web menace, and earlier this month, a major sting operation was carried out against a major money laundering network. Thirty-five suspects were arrested.

One individual, identified as John Edward Monette, was charged with Conspiracy to Distribute a Controlled Substance. He was also alleged to have carried out numerous bitcoin for cash exchange transactions on the dark web, most of them in 2017 and totaling about $19,000.

Another dark web vendor busted during the operation, Ryan Farace, 34 was indicted for being involved in an alprazolam tablets manufacture and distribution scheme.

He sold the drugs on the dark web, with all transactions being made in bitcoin. Additional digital currency money laundering transactions were made to conceal the sources.

Article Originally Published:

By ELIZABETH GAIL at Coincentral

 

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Why You Need to Get Onboard With Blockchain!

Why You Need to Get Onboard With Blockchain!

Blockchain tech – so revolutionary in nature that some are calling it the “new internet.” It has applications in just about every industry, and has completely altered the way we think about internet security, the processing of information, and the speed of transactions.

Blockchain is the technology that supports the digital currency  or cryptocurrency called Bitcoin –

however this is not what it is really about as it has a far wider scope of applications and is being commercialized in a growing number of areas.

It has generated much interest in technology circles and beyond, because of the new possibilities it opens up in financial services, the public sector and other areas.

According to sites like BitFortune.net, blockchain tech is definitely worth keeping an eye on due to the myriad of benefits it provides.

Blockchain and Bitcoin are not the same thing – Bitcoin is implemented using blockchain technology, but blockchain technology can be used in contexts much wider than Bitcoin or other cryptocurrencies. so when we are talking about the blockchain we are talking about a combination of a number of technologies, these including:

  • Distributed ledgers.
  • The blockchain data structure.
  • Public key cryptography.
  • Consensus mechanisms.

Part of what makes it so exciting is that it is completely open source. As a result, there are already a number of interesting blockchain apps, and the number is growing daily.

The technology is so secure that it is already being used by DARPA to secure military data. Various governments around the world are working on ways to use the tech to protect their own data.
The tech is tamper-proof, and the data stored within it is permanent. It cannot be erased or altered, and this is what makes it so enticing to those needing more secure networks.

But there is more, folks. (Okay, so that sounds a bit like an infomercial, but the benefits are real nonetheless.) Transactions can speed across the network – taking only as much time as it takes for them to be authorized.

The blockchain cannot be described just as a revolution. It is a tsunami-like phenomenon, slowly advancing and gradually enveloping everything along its way by the force of its progression.

William Mougayar

The system runs without the need for an intermediary, and this reduces the time it takes to execute transactions. This, and the unique way that the tech works, means that costs are significantly reduced as well.

What makes it so revolutionary is that the information is spread across every computer within the network. With Bitcoin, that means the data is securely “backed up” over thousands of computers.

Now, it is unlikely that banks will entrust their data to a public network in the same way, but they have been working on creating networks of their own instead.

The potential savings in terms of cost and time are extensive. If you want to learn more about these savings, check out the infographic below.

 

Why You Need to Get Onboard With Blockchain!


Why You Need to Get Onboard With Blockchain!


Visit bitfortune.net . for more interesting Infographics

Guys did an amazing job and was allowed to share.


 

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