24Bulls Review
Why 24Bulls doesn’t Suck in 50 Words?
I have always considered transparency to be a characteristic and a must-have feature of an honest broker. If I have the slightest hunch that a broker tries to hide something from me, I move on, looking for another one. Well, the good news is that 24Bulls has nothing to hide, the name of the owning company, as well as its address, are easily available and overall, they look like a trustworthy broker.
Why 24Bulls does Suck?
The trading platform used is provided by Tradesmarter and although the inexperienced guys will probably fell in love with it from the first contact for its ease of use, the seasoned traders will deeply miss more advanced features and the ability to use different types of options, not just the plain and simple Call or Put. Unfortunately, they don’t offer the possibility to place Touch/No Touch, Boundary, or other types of trades and they have no tools like Early Closure or the possibility of extending the expiry time (Roll Over). Keeping in mind that 24Bulls are still young in the industry, this is not a major slip up and I am sure they will improve those things in the future.
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24Bulls – Almost At the Top, Just A Bit…
Even from my first visit at 24Bulls.com, I felt like I’m dealing with a broker who tries to add something new to the whole Binary Options trading experience. They don’t abuse the same slogans over and over again, they don’t tell me every 5 minutes how rich I am going to be and how easy Binary Options are. The overall feel of the website is a friendly one, the features are nicely structured and the tutorials are easy to find. 24Bulls uses the platform provided by TradeSmarter and this platform doesn’t have any major disadvantages, but it is considered by some traders too simple and with a lack of advanced features. A little improvement in this area might be welcomed by more sophisticated traders and maybe in the future, we will see extra features. Anyway, the functionality is satisfactory and the trading experience is smooth.
This broker definitely looks like it is trying to provide a good trading environment, but unfortunately, that is not always the case: they advertise an Option Builder, but I couldn’t find it anywhere so the only features I can access are Call or Put. The Live Chat feature didn’t work and once I clicked on it, all I got was an option to send them an e-mail. That being said, I couldn’t get any help regarding the Option Builder tool. The bitter taste that I got from the missing tool went away the next morning when I got a newsletter e-mail from them containing market outlook and predictions for the day to come. I must admit, it was a comprehensive analysis, regarding both the fundamental and the technical aspects and above all, it was something a trader can use in his trading, not just a bunch of financial terms sprinkled with “Make money now!” incentives. Although they lack in certain areas, 24Bulls definitely try to improve and sometimes do a better job than some of the brokers who are considered top-tier so if they keep this up we might hear about them again and I’m sure they will move up the ranks.
Is 24Bulls a Scam?
From our research so far, 24Bulls has nothing in common with the word “Scam”. They seem to care about the customers and offer them a professional trading environment. Their address is visible, the name of the owning company is easily found and they are undergoing the process of regulation. No scam evidence has been found and we highly doubt they have an “evil agenda”.
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24Bulls Complaints
While searching the Internet and the major review sites or forums, we didn’t find any complaints regarding 24Bulls. If you are planning on opening a 24Bulls account, we recommend you conduct your own research.
24Bulls Bonus
The bonus offered can go up to 50% (maximum $2500) and the wager is 15 times the Bonus + Deposit. This is one of the smallest wagers in the business and the great addition (which should actually be the standard for all brokers) is that you can withdraw your own money at any time. The bonus will be available for withdrawal once the required trading volume has been reached.
24Bulls Withdrawal
There is no minimum withdrawal amount and credit card withdrawals are free of charge. Bank wire transfers incur a $30 fee. The processing time ranges from 3 to 10 business days.
24Bulls Extra
The well-written and informative newsletter is a definite extra and I hope soon more brokers will follow the 24Bulls example and try harder to deliver high-quality information regarding the market. On top of the newsletter, they have a feature that is a first for me: the Risk-o-Meter. This little thing lets you tweak your risk and reward. For example, the trader can select a lower payout percentage but this will increase the refund on that particular trade. If the payout is increased, the trade will offer a lower refund. In other words, you have the ability to increase the risk and the reward at the same time or even decrease them both. You can even select a 40% payout and a 40% refund so if you invest $100 and win the trade you will only receive $140 but if you lose it, you will receive $40 back.
This could be a great tool for Binary Options Hedging, especially if two brokers are used: use the high refund from 24Bulls and another broker’s high payout to create a positive hedge. I didn’t find the feature at first, but it’s actually pretty simple if you know where to look: in the lower right corner of an asset chart, there’s a little “More” button. Click on it and the Risk-o-Meter will appear.
24Bulls Ratings
User Friendly 14/20
The website is well structured and is available in 13 languages; the tutorials are easy to find and the FAQ section is complex and explanatory.
Number of assets and expiry times 13/20
24Bulls offers the possibility to trade on 9 currency pairs, 24 stocks, 6 commodities, and 10 indices for a total of 49 assets; not the most we’ve seen, but the variety is wide enough. The available expiry times are 60 seconds, 15 minutes, 30 minutes, and hourly.
Commissions, Support, and Effective return 13/20
There is a $30 fee if you want to withdraw via wire transfer and unfortunately, I couldn’t contact live chat for quite some time, so their support needs improvement. The effective return can go as high as 85%.
Deposit, Payment, and Bonus 16/20
The minimum deposit is $250 and can be made via credit card, e-wallets, or bank wire. Again a fee of up to $30 will be charged for bank commissions. The withdrawals can last up to 10 business days. The Bonus goes up to 50% to a maximum of$2500 and can be withdrawn once a trading volume of 15 times Bonus + Deposit has been reached. They offer a 50% insurance option on your losses, but you will have to contact an account manager to get more information about this.
Website Extras 12/20
The professionally-written daily newsletter and the Risk-o-Meter tool bring them a respectable 16 point rating for the Extra section.
24Bulls Overall Ratings 68 + Regulation Process (+1) = 69/100
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