FAQ’s

Select an FAQ from one of the categories below, or search by keyword

What is a Binary Option?

A type of option in which the payout is structured to be either a fixed payout if the option expires "in-the-money", or nothing if the option expires "out-of-the-money".

How do I fund my account?

Log in to 'My Account' and click on 'Deposit' to fund your account.
You will be notified by email once your account has been successfully funded. 
The minimum deposit amount is $50 for all deposit methods.

Are my funds safe?

Client funds are held in segregated trust accounts with National Australia Bank (NAB).
Unlike some other providers we do not use your funds (or your unrealised profits) to hedge in the underlying market. We only use our own funds for hedging.

How do I open a Live account?

To open a Live account, please click here

Is Spread 24coins option available on smartphone?

Spread 24coins Option, 24coins Option on Demand and Spread on Demand are all available on smartphones.

What are the major advantages of Binary Options?

Compared to conventional trading, Binary Options offer:

Convenience - No need to constantly monitor positions, worry about leaving orders or when/where to exit a trade.

Control - You know exactly the possible outcomes of a trade, even before you enter it.

Accessibility - Open an account with 24coins option from as little as $50.

Simplicity – Just click and trade!

What is a 24coins option?

Our "24coins" option is a conventional binary option that shows the mid price (also known as the at-the-money price).
The 24coins option offers payouts of 180% to 200%, depending on the asset and duration.
24coins differs from "Spread 24coins" in that there is no spread, and trades are executed at the mid price.

How do I open a Demo Account?

You can open a demo account with our Quick Demo, which allows you to practice trading Binary Options with $10000 of virtual funds. Quick Demo does not require any registration.

Do you offer any bonuses?

Yes, currently new accounts will receive up to 50 (AU$/US$/€/£) cashback on their initial trades.

Once the cashback is redeemed, how long must I wait before I can withdraw? Do I have to fulfil a minimum amount of trades before I can withdraw?

There are no limitations on withdrawing your cashback once its been redeemed.
Unlike many other brokers, we pride ourselves on fairness and transparency, and do not subject our clients to unrealistic trading volume requirements before cashbacks can be withdrawn.

What are 24coins Option Points?

24coins Option Points is our loyalty program, for which a pending cashback can be received through points earned in the previous month. Points are accumulated depending on your tier level with 24coins Option. 

What is a pending cashback?

A pending cashback is a reward that can be redeemed through trading on a one-to-one basis.
e.g. If you trade $100 and have $100 in pending cashback, it will be redeemed into real funds.

How do I fund my account?

Log in to 'My Account' and click on 'Deposit' to fund your account.
You will be notified by email once your account has been successfully funded. 
The minimum deposit amount is $350 for all deposit methods.

Are my funds safe?

Client funds are held in segregated trust accounts with National Australia Bank (NAB).
Unlike some other providers we do not use your funds (or your unrealised profits) to hedge in the underlying market. We only use our own funds for hedging.

How do I open a Live account?

To open a Live account, please click here

How do I open a Demo Account?

You can open a demo account with our Quick Demo, which allows you to practice trading Binary Options with $10000 of virtual funds. Quick Demo does not require any registration.

Do you offer any bonuses?

Yes, currently new accounts will receive up to 50 (AU$/US$/€/£) cashback on their initial trades.

Can I cancel a withdrawal request?

Yes.

The cutoff time for Bank, Neteller and withdrawals is 12pm AEST/AEDT. You may cancel your withdrawal request before this time.


Can I use the funds in my withdrawal request for trading?

No, The withdrawal amount has been deducted from your account balance and is awaiting processing. 

Are you regulated?

24coins holds an Australian Financial Services License (AFSL 364261).
ASIC requires licensees to meet strict capital requirements and to implement and comply with internal procedures including risk management, staff training, accounting and audits.

How do I withdraw from my account?

Log in to My Account and click on 'Withdrawal' and submit the amount you would like to withdraw.

Bank withdrawal requests made by 12pm business days will be processed on the same day.

Please allow between 1-3 working days for receipt of funds into your nominated bank account.

Bank withdrawals made before 12pm AEST/AEDT will be processed at 12pm. Bank withdrawals made after 12pm will be processed at 12am AEST/AEDT.


Neteller withdrawals are processed daily at 12pm AEST/AEDT. Credit Card withdrawals are processed instantly.

What do I do if I lose my username?

Please contact 24coins, our contact details can be found here.

What is the minimum deposit amount into a 24coins account?

For AU$ accounts, the minimum deposit amount is AUD$10 for bank transfers and AU$50 for Credit Card / Neteller.

For US$/€/£ accounts, the minimum deposit amount is 50 (US$/€/£) for all deposit methods.

For IDR accounts, the minimum deposit amount is Rp 250,000 for all deposit methods


Once the cashback is redeemed, how long must I wait before I can withdraw? Do I have to fulfil a minimum amount of trades before I can withdraw?

There are no limitations on withdrawing your cashback once its been redeemed.
Unlike many other brokers, we pride ourselves on fairness and transparency, and do not subject our clients to unrealistic trading volume requirements before cashbacks can be withdrawn.

In what currency can I deposit?

24coins supports deposits in Australian Dollar (AU$), US Dollar (US$), Euro (€), Pound Sterling (£), and Indonesian Rupiah (Rp.) depending on the base currency you have selected for your account.

Is the 24coins platform only open to Australians?

No! We have clients across the globe and clients from all countries that are in the drop down menu in the sign up process are currently the countries accepted by 24coins. Clients outside of Australia may also deposit with us through International Bank Transfer, Credit Cards and Neteller.  

Are there any fees when depositing and withdrawing by Credit Card or Neteller?

There are no deposit fees.
There is a 1.5% withdrawal fee, deducted from the withdrawal amount, for withdrawals via Credit Cards and Neteller. 

How do i withdraw less than 50 (US$/€/£)?

You can only withdraw less than 50 (US$/€/£) if you are closing your account.

If you would like to close your account, please contact support and we will process the account closure and balance withdrawal for you.

What is the minimum withdrawal amount to Neteller?

The minimum withdrawal amount to Neteller is $50.

How much money is there in the 24coins demo account?

The 24coins demo account has an opening balance of $10,000 of virtual funds depending on your selected base currency.

Can I withdraw to an overseas bank account?

Yes, just proceed to create a bank account and we will send those funds to your nominated bank.
24coins will send funds from National Australia Bank in Australia and there will be a 20 (US$/€/£) fee for the international transfers to overseas bank accounts. 
This fee will be withheld from your withdrawal amount.
Further receiving fees may be charged by your bank.
Please check with your bank for more information on their receiving fees.

What is the fee for depositing via credit card?

There are no fees for incoming deposits via Bank, Neteller or Credit Card.


Is my credit card information stored on your website?

No, we do not store credit card information on our servers.
The information is held with third party payment processors, in compliance with the PCI Data Security Standard (PCI-DSS).

Can I withdraw onto my credit card?

Yes. Withdrawals can be made only to credit cards from which a deposit has been made, and up to a maximum of the deposit amount.

 

Withdrawals will be made:

 

1) to a deposit that matches the exact amount of the withdrawal, or

2) if no matching deposit is found, withdrawals are made from the most recent deposits until the withdrawal is fulfilled.

 

The time it takes for the withdrawal to settle on your card depends on your issuer, but will usually appear within 3 days. We are unable to withdraw to a card that has expired.

What is the minimum credit card deposit?

The minimum deposit is 50 (AU$/US$/€/£) or Rp.250,000.

What is the maximum withdrawal amount to Neteller?

The maximum withdrawal amount to Neteller is $10,000 per day.

What is my daily withdraw limit for Neteller?

$20,000 per day is the limit for Neteller.

What is the withdrawal fee on an international bank transfer?

There is a 20 (US$/€/£) fee for international transfers to oversea bank accounts.

How do I redeem my 50 (AU$/US$/€/£) cashback?

Your cashback can be redeemed through trading, on a one-to-one basis, up to a maximum of 50 (AU$/US$/€/£).

It can be redeemed with a single trade (e.g. 50 x 1 trade) or multiple trades (e.g. 10 x 5 trades).

How do i withdraw less than AU$10 to my bank?

You can only withdraw less than AU$10 if you are closing your account.
If you would like to close your account, please contact support and we will process the account closure and balance withdrawal for you.

How do i withdraw less than AU$50 to my Credit Card or Neteller?

You can only withdraw less than AU$50 to your Credit Card or Neteller if you are closing your account.

You can however withdraw a minimum of AU$10 by Bank Transfer.

If you would like to close your account, please contact support and we will process the account closure and balance withdrawal for you.

What is the fee for depositing via credit card.

There are no fees for incoming deposits via Bank, Neteller or Credit Card.

What is a Binary Option?

A type of option in which the payout is structured to be either a fixed payout if the option expires "in-the-money", or nothing if the option expires "out-of-the-money".

Is Spread 24coins available on smartphone?

Spread 24coins, 24coins on Demand and Spread on Demand are all available on smartphones.
Please download the 24coins App

What are the major advantages of Binary Options?

Compared to conventional trading, Binary Options offer:

Convenience - No need to constantly monitor positions, worry about leaving orders or when/where to exit a trade.

Control - You know exactly the possible outcomes of a trade, even before you enter it.

Accessibility - Open an account with 24coins from as little as $50.

Simplicity – Just click and trade!

What is a 24coins option?

Our "24coins" option is a conventional binary option that shows the mid price (also known as the at-the-money price).
The 24coins option offers payouts of 180% to 200%, depending on the asset and duration.
24coins differs from "Spread 24coins" in that there is no spread, and trades are executed at the mid price.

What is a Spread 24coins option?

Spread 24coins is a new type of option that shows a bid/ask spread, the standard method of price making in the Forex Markets.
Spread 24coins offers payouts of 200%, or double your investment. 

What are the 'underlying' assets?

AUD/JPY, AUD/NZD, AUD/USD, CAD/JPY, CHF/JPY,  EUR/AUD, EUR/GBP, EUR/JPY, EUR/USD, GBP/AUD, GBP/JPY, GBP/USD, NZD/JPY, NZD/USD, USD/CAD, USD/CHF, USD/JPY, GOLD, BITCOIN(XBT/USD), ETHERIUM, RIPPLE, BITCOIN CASH & LITECOIN



What is Option On Demand (OOD)?

An Option on Demand (or OOD) is a fixed duration option.
The expiry time can be 1 minute, 3 minutes, or 5 minutes after the trade is placed.

What is Trader's Choice?

Trader’s Choice is a sentiment indicator that allows 24coins users to monitor current trading trends, in real time.

This feature is located on the left hand side of the trading chart and provides continuous updates whilst traders are trading.

Trader's Choice will appear after 4 trade actions, and will update every

1 minute for 15 minute options,

5 minutes for hourly options and 15 minutes for daily options.

Trader's Choice can also be shown/hidden from view according to your preference.

Are you regulated?

24coins holds an Australian Financial Services License (AFSL 364261).
ASIC requires licensees to meet strict capital requirements and to implement and comply with internal procedures including risk management, staff training, accounting and audits.

Is there a limit to the total amount of exposure I can have at any one time?

Yes, please check the Trading Conditions for maximum exposure for your base currency.

Why does the spread narrow as the option moves closer to expiry?

Because the implied volatility is lower as the option matures, the spread narrows due the payout being fixed.

Is the spread fixed?

No, the spread is variable. In general, the shorter the time left until expiry, the narrower the spread.

What are the assets available to trade under 24coins?

AUD/JPY, AUD/NZD, AUD/USD, CAD/JPY, CHF/JPY, EUR/AUD, EUR/GBP, EUR/JPY, EUR/USD, GBP/AUD, GBP/JPY, GBP/USD, NZD/JPY, NZD/USD, USD/CAD, USD/CHF, USD/JPY, GOLD, BITCOIN, ETHERIUM, RIPPLE, BITCOIN CASH & LITECOIN

Can the option be exercised early if required?

Yes, you have the right to close the option early (before trade end time).

Can I purchase a Call Option (High) and a Put Option (Low) on the same option?

Yes.

If an option expired at the money (contract rate=expiry rate) will I get my investment back?

No, you will not get back the initial investment.

Do I get assistance or advice on how to trade?

No, as an ASIC regulated broker, we are only authorised to offer general advice such as how to navigate the 24coins trading platform. We do not offer personal advice such as trade recommendations.

What is the maximum transaction size for any one trade?

Please check the Trading Conditions for maximum exposure for your base currency.

What is the maximum exposure amount for any one option?

Please check the Trading Conditions for maximum exposure for your base currency.

When I tried to purchase an option, an error message popped up saying “Your purchase order has been cancelled due to changes in the price”. What does it mean?

Our system is setup  to turn down orders whose rates change at the time of purchase, to protect customers who may not be able to execute transactions at the intended price.

Which time zone do I refer to for the expiry time?

The time zone we refer to for the expiry time is AEST/AEDT. The system will automatically shift to your local computer time.

What are the different option durations?

Please refer to the Option Schedule page.

How many option types are there?

We offer four option types. 24coins, 24coins Spread, Turbo and Turbo Spread.

When can I purchase an option with a new expiry time?

Please refer to the Option Schedule page.

Can I trade options right until expiry?

No, there is an "End Trading" time for all 24coins and Spread 24coins option.
This can be anything between 2 minutes before expiry (for a 15 minute option) to 10 minutes before expiry (for a daily option).
The End Trading time can be viewed on the chart in the trading platform on the left of "Expiry" with the text "Stop".

What is a Contract Rate?

The Contract Rate is the rate at the time an option is purchased. 
Also known as the Trade Rate or Execution Rate.

What is an Expiry Rate?

The rate at which the option expires and the market mid-rate at the time of expiry.

Where can I see the Expiry Rates?

Please refer to the Expiry Rates page on our website.

Who is the distributor of the rates displayed by 24coins?

Crypto - Bitfinex, BitMEX, Forex - FXCM

How are rates displayed?

24coins rates are displayed up to a maximum of 5 decimal points. e.g. EURUSD 1.12345.
For currency pairs that include Japanese Yen (JPY), rates are displayed up to a maximum of 3 decimal points. e.g. AUDJPY 91.234.

Will trading rates always be the same for different options on the same asset?

No, they do not always coincide.
Although rates are delivered based on the current market price, 24coins adopts a system where rates are individually delivered for each option.

Are individual options on the same asset with the same expiry time guaranteed to have the same expiry rate?

No, although in nearly all cases they are the same, they are not guaranteed to be the same.
24coins adopts a system where rate information is individually delivered for each option.
Due to a possible milliseconds difference in the delivery of a rate for an option, it is conceivable that the expiry rates will not be the same.

How are the expiry rates determined?

Rates used are the rates delivered by our third party feed providers.
24coins takes no part in the determination of expiry rates.

Can I trade on weekends?

No, the financial markets are closed on weekends.

What are the payouts?

Payouts vary depending on the option and can be between 180% and 200%.
Please make sure to confirm the payout on the trading platform prior to trading.

What amount of payout am I entitled to when trading?

If the option you purchase closes In-The-Money at the time of expiry you are entitled to the payout associated with that particular option. This can be anything between 180% and 200%.

When exiting a trade early, how is the payout determined?

The payout is determined by the pricing algorithm which is based on a number of factors including the time left to expiry and the implied volatility of the asset.

What kind of information is displayed under “My Trade Actions” on the trading platform?

The complete details of your last 5 transactions will be displayed here.
These include Asset, Strike Price, Purchase Time, Status, Expiry Time, Closing Rate, Investment Amount and Payout Amount.

Can I trade on my smartphone?

Yes, you can trade on both iPhone & Android devices with 24coins apps.

Does logging in simultaneously from both live and demo trading platforms affect anything?

It is not recommended to login simultaneously from both live and demo trading platforms since this may result in a service failure.

What is the minimum transaction amount?

$50

Is there a limit on the number of trades that can be made for each option?

There is no limit on the number of trades.

what is a stale rate?

When processing a trade there are times when a delay occurs.
i.e. the rate shown being different to the actual rate at the time, hence the stale rate error message.
After a few seconds the new rate will refresh and the current rate will be once again available. 

Why was my trade cancelled?

The most common reason is that the feed was stale, not current, and out of market.
This could be due to latency or the rate feed not updating.
Under these circumstances 24coins reserves the right to cancel trades.

Why was my credit card payment not accepted?

In most instances the issuing financial institution is where you would find the answer.
If the card is overdrawn the payment won't be accepted.
If a card has been reported lost or stolen the payment will also not be accepted. 

What is Trader's Choice?

Trader’s Choice is a sentiment indicator that allows 24coins users to monitor current trading trends, in real time.

This feature is located on the left hand side of the trading chart and provides continuous updates whilst traders are trading.

Trader's Choice will appear after 4 trade actions, and will update every

1 minute for 15 minute options,

5 minutes for hourly options and 15 minutes for daily options.

Trader's Choice can also be shown/hidden from view according to your preference.

What are 24coins Points?

24coins Points is our loyalty program, for which a pending cashback can be received through points earned in the previous month. Points are accumulated depending on your tier level with 24coins. 

What is a pending cashback?

A pending cashback is a reward that can be redeemed through trading on a one-to-one basis.
e.g. If you trade $100 and have $100 in pending cashback, it will be redeemed into real funds.

Can I withdraw to an overseas bank account?

Yes, just proceed to create a bank account and we will send those funds to your nominated bank.
24coins will send funds from National Australia Bank in Australia and there will be a 20 (US$/€/£) fee for the international transfers to overseas bank accounts. 
This fee will be withheld from your withdrawal amount.
Further receiving fees may be charged by your bank.
Please check with your bank for more information on their receiving fees.

What is the minimum software requirement for the 24coins browser based trading platform?

We recommend that you use the latest version of your browser.

Can I login to multiple computers at the same time?

You may login via mulitple devices subject to our terms and conditions.

What is the minimum computer requirement for the 24coins trading platform?

We recommend a CPU above Pentium 500MHz.

What is the minimum requirement for 24coins on a smartphone?

For iPhone, iPod Touch, and iPad, iOS 4.0 or later. For 24coins for Android 2.2, 2.3, 2.4, 3.0, 3.1, 3.2.

What are your trading hours, is it the same as your office hours?

Our trading hours are 9:00am Monday Morning to 8:00am Saturday Morning AEDT.
Our office hours are 8:00am to 4:00am AEDT, Monday to Saturday.

How do I download Trade Actions Report?

Go to the Trade Actions Report, which is located below your account balance after logging in.
Select the Trade Actions tab, set the dates you wish to see from the report and then click on the PDF icon to download. 

What is the withdrawal fee on an international bank transfer?

There is a 20 (US$/€/£) fee for international transfers to oversea bank accounts.

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