Why is 24Option not a scam?
So, why exactly is 24Option legit and not a scam binary options broker and what’s so special about it?
1. First of all, it’s one of the very first companies that decided to offer binary options trading services.
There are many companies that started out in the early days at the same time when 24Option did but they all shut down in the meantime. They shut down because all the negative comments and reviews about them on the web. Most just changed names in order to hide the negative comments about them.
24Option however is one of the extremely few binary options brokers that did not get any negative comments and complaints and as such continued to offer trading services since the early days of binary options.
2. 24Option is regulated and licensed in reputable jurisdictions
The first license 24Option received was from CySEC in Cyprus, which by the way was the first authority that decided to regulate and license binary options brokers.
If you for some reason don’t trust the Cyprus license then you need to know that 24Option has validated this license in other jurisdictions and authorities as well such as the FCA in the United Kingdom, MIFID (European Union), CONSOB (Italy), BaFin (Germany) and AMF (France).
Even most of the regulated brokers only have regulation with CySEC alone, as CySEC is known to be a bit lax with its rules. However, it’s serious business once you are on the approved list of the FCA in the United Kingdom and BaFin in Germany etc. You can’t play around with these regulators.
3. There aren’t any serious complaints against the broker.
There are a number of forums you can check out when you want to see if a binary options broker is a scam or not, such as the binaryoptionsthatsuck.com comments lists, the binartyoptions.net forums and the forexpeacearmy forums.
These are all legit user-generated forums where all comments are approved. If a broker were shady, then people would have commented about it on these places.
If you check these forums and websites then you will see that everyone agrees that 24Option is one of the legit brokers and everyone has only good comments about it. This is one of those aspects that most brokers lack.
4. It does not condone any shady practices
Most shady brokers steal peoples’ money by having an account manager convince the trader to allow the account manager to execute trades in his place. After a few successful trades the account manager will get the trader to make a very large deposit after which the manager will intentionally invest this money on losing trades.
None of these practices are condoned at 24Option. Like said, 24Option is regulated and on the approved list of various organizations such as FCA in UK, meaning that practices such as these would immediately be prosecuted by the law and if the broker would do things like that then it could even be shut down by the authorities.
5. It actually has an office in the UK
Unlike many small brokers that are located in weird places like the British Virgin Islands, Seychelles etc. 24Option actually has a real office and representation in the United Kingdom with real people working there. This is a real office and not just a virtual mailing address some other brokers use.
If 24Option would be a scam, then it would most definitely not make any sense to open an office in the UK. It would make police’s job very easy to arrest the people behind 24Option if they would be a scam and they’d have an actual office in downtown London.
Should you register at 24Option?
If you are not from the USA (where 24Option does not do business) and are interested in binary options then 24Option should be your top choice precisely due to the things written above. It’s perhaps the most legit broker in the business with licenses in many important countries.
It’s also a top broker when it comes to the quality of services offered. If you want to read more about the actual services offered by 24Option then you should check out the full and complete 24Option review I have written here.