24 Option Prime-The overview of minimum deposit, leverage, spreads

Note: Since this brokers official site (https://www.24optionprime.com/) is not accessible at the time of writing this introduction, only a cursory understanding can be obtained from the Internet.

General Information

24 Option Prime is allegedly a Saint Vincent and the Grenadines-based broker that provides its clients with leverage as high as 1:500, variable spreads and commissions on diverse trading assets and a choice of six different account types.

Market Instruments

24 Option Prime advertises that it offers a wide range of tradable instruments, including CFDs, forex currency pairs, cryptocurrencies and options.

Account Types

There are six trading accounts offered by 24 Option Prime, namely Swap Free, Micro, Standard, ECN Prime, Options, Crypto. The minimum initial deposit to start a Micro or Options account is only $10, aligning with most brokers' requirements. While the Standard or Crypto account requires much higher initial capital of $100, and the ECN Prime account requires the highest initial deposit amount of $500.

Leverage

The maximum leverage ratio is influenced by what account types traders are holding. Clients on the Micro account enjoy the maximum leverage up to 1:500, while the ECN Prime account with the leverage as high as 1:100, and the Crypto account with the leverage of 1:3. Keep in mind that leverage can magnify gains as well as losses, inexperienced traders are not advised to use too high leverage.

Spreads & Commissions

Different account types enjoy different minimum spreads. For instance, the spread in the Standard account starts from 1 pips. As for commissions, different deposit or withdrawal methods requires quite different commissions. In terms of deposit options, the commission of Bank transfer and FNB South Africa depends on the originating bank, while VISA, Visa Electron, MasterCard, Maestro, FasaPay, Neteller, Mobile, Payeer, RBKMoney, RPcard, WebMoney, Moneta.ru Credit Cards, Skrill, WinPay, Yandex.Money and help2pay with the commission of 0%. When it comes to withdrawal methods, the commission of Bank transfer is €50.00, while FNB South Africa with the commission of 1%, but not less than 5 ZAR, FasaPay, Skrill, Webmoney and Yandex.Money with 1%, Neteller with 2%, but not less than $1, Payeer with 1.5%, Perfect Money with 0.5%, VISA/MasterCard USD with 2% + $10.

Deposit & Withdrawal

24 Option Prime accepts a huge number of deposit options, ranging from Bank transfer, FNB South Africa, VISA, Visa Electron, MasterCard, Maestro, FasaPay, Neteller, Mobile, Payeer, RBKMoney, RPcard, WebMoney, Moneta.ru Credit Cards, Skrill, WinPay, Yandex.Money to help2pay. Likewise, it also works with multiple withdrawal methods, containing Bank transfer, FNB South Africa, FasaPay, Skrill, Webmoney, Yandex.Money, Neteller, Payeer, Perfect Money and VISA/MasterCard USD. As for deposit and withdrawal processing time, deposit or withdrawal via Bank transfer and FNB South Africa usually requires 3 to 5 days, deposit via VISA, Visa Electron, MasterCard, Maestro, FasaPay, Neteller, Mobile, Payeer, RBKMoney, RPcard, WebMoney, Moneta.ru Credit Cards, Skrill, WinPay, Yandex.Money and help2pay requires only 15 minutes, withdrawal with FasaPay, Skrill, Webmoney, Yandex.Money, Neteller, Payeer, Perfect Money and VISA/MasterCard USD requires up to 3 days.

Customer Support

24 Option Prime‘s customer support can be reached through email: support@24optionprime.com. Company address: Suite 305, Griffith Corporate Centre, P.O. Box 1510, Beachmont, Kingstown, St. Vincent and the Grenadines. However, this broker doesn’t disclose other more direct contact information like telephone number while most brokers offer.