24Bulls – Newbies are welcomed
Sometimes it feels like all brokers are one and the same when it comes to the Education they provide because a lot of their material is very similar… and superficial I might add. Most of the times all we get are advertising slogans or advices like “Choose an asset, choose a direction and select an investment amount”. Come on, that will never help a newbie, but most brokers don’t see it. Does 24Bulls fit into the category of brokers who try to teach but fail at it or are they really helpful? We are about to find out.
24Bulls Education – First impressions: Just another face in the crowd
Overall the website looks good, but not impressive and certainly not one of the best I’ve seen. The dominating color is green which is known to be relaxing and restful but if all I can say about them is they have a nice website color, you can imagine what a first impression they make. Other than that, everything is similar to other brokers: they show the platform, a short video on how to use it and the usual Bonus and Payout advertisements. Boring!
24Bulls Education – Basic Level: How “basic” can you get?
The Frequently Asked Questions are nicely divided into categories so if I need answers about the account or about deposits, etc, I can just go to that section and I don’t have to read through a bunch of questions and answers that I’m not interested in. The video on the first page is a nice introduction to their Trade Smarter platform which is known for its ease of use and newbie friendliness. Overall, I think that a complete newbie may be able to open trades after watching the video and reading the FAQ section so they do a good job for the basic level of education…but that’s not so hard to do.
24Bulls Education – Medium Level: Nicely structured
Their education material is different for each asset class so if the trader wants to know more about Binary Options on currencies or on any other class, he/she can go to that section. This would be a great idea if it would actually be informative and if those sections would contain particularities of each class, but unfortunately that is not the case and they just contain general information. Under the tab Trading Products (I have no idea why it’s called that way) I could find some more general information about Binary Options and a few advantages of this simplified form of trading. To be honest the section looks more like advertising material than educational material, but I guess that’s how they “educate” traders. Next I found an explanation of the steps a trader needs to take in order to invest in Binary Options; it was clear, simple and it did the job it was intended to. Overall they have nothing special and seriously lack when it comes to providing specific education; they do a good job at the general stuff… but a trader needs more than that.
Throughout the website they inform the potential client that he/she will be trained in One on One sessions, and webinars by their Chief Traders but that is probably reserved for real account holders and since I am not one of them, I don’t know what nuggets of wisdom they can offer.
24Bulls Education – Extra: Now we’re talking
They advertise daily market updates and newsletters so I opened an account to see if I receive those. This was actually a pleasant surprise because their newsletter contained really useful and specific information, good technical and fundamental analysis. To be honest, those newsletters changed my opinion on them. I didn’t consider them bad before, just too plain and superficial but the daily analysis adds value to their education and provides a consistent stream of information. Thumbs up for that!
My conclusion: Start working harder, 24Bulls
The newsletters I received proved me that 24Bulls has the tools to become a top rated broker, but at the moment their website contains educational material that I consider to be just too general (Click here for 24Bulls Review). The information is definitely not wrong or misleading, but education has to be specific and to the point; just telling a trader that Calls work better when price is moving up does not constitute teaching. That being said, I am still waiting for them to recognize the importance of adding more depth to the material on the website, not just the one in the newsletters.