24FX was established as a brokerage service in 2013 and is one of Rodeler Ltd’s trading names, a company based in Cyprus that was founded back in 2010. 24FX is regulated by MiFID and CySec and is therefore reliable and trustworthy. This operator provides the opportunity for trading across a wide spectrum of areas including commodities, Forex, stocks and indices. Although this provider does not offer any kind of bonuses or promotions, they do offer a number of excellent features including trailing stops, guaranteed fills, guaranteed stop loss, automated trading, one click execution and expert advisors. Multiple trading strategies are allowed on 24FX’s trading platform including intraday trading, scalping, long term trading and hedging. 24FX also offer impressive educational resources for its clients with a free trading education centre that caters for the needs of novices as well as an online trading community forum. Experienced investors will benefit from the economic calendars, daily market reviews, market commentary, exclusive live news and technical and fundamental analytical tools offered by this broker.
|Forex, Indices, Stocks, Commodities, Crude Oil, Gold & Silver|
Trading Platform Offered by 24FX
The primary trading platform offered by this broker is MetaTrader 4 which is one of the most popular across the industry. Offering excellent analysis and charting software that is suited to traders at all levels of experience, this user friendly interface offers all of the essential tools required to execute rapid trades. Some of the features of this platform include:
- Indicators and charting tools allowing for fast and accurate analysis. Custom designed indicators and Expert Advisors can also be loaded
- Fast analysis and trading – ideal for scalpers
- Simple order entry thanks to the intuitive, user friendly interface. There are many ways to open and close a trade
24FX also offers WebTrader, a contemporary web based platform which gives full market access from any internet enabled device which can support web browser. 24FX’s clients are able to access WebTrader to control their trading decisions and gain market access at any time and place. Features include:
- Charts and live analysis gives access to detailed statistics about closed and open closed trades visually
- Trading Cubes to speed trading by showing the trader their preferred assets, prices and lot sizes
- Visual trends – this visual tool makes it easy to see market trends and market conditions for currencies
- One click order execution
- User friendly trading environment
- Social trading allowing for copying of successful trades
Mobile trading is also possible through iPads, tablets or smartphones. Clients can monitor their investments, open trades and manage their trading account wherever and whenever they wish. Optimised for mobile, this trading platform is compatible with most major devices.
Does 24FX Offer Different Account Types?
Like many of the best brokers, 24FX offers several account types designed to accommodate the trading styles of many different investors. The available accounts include:
The Silver account is designed for the use of novice traders and requires a minimum deposit of $250. The benefits of this account include withdrawals within 7 days, fixed spreads, hedging and minimum lot sizes of 0.01.
With a deposit of at least $5000, experienced investors can enjoy the benefit of withdrawals within 5 days, fixed spreads, 24/5 customer support, access to news alerts, webinars and videos and access to a dedicated account manager.
The most experienced investors can open a Platinum account with a minimum deposit of $20,000. This gives many benefits including withdrawal processing within two days and a free private VPS as well as all of the benefits of the other two accounts.
There is also the option to open an Islamic account, which is ideal for investors of the Muslim faith who require an account that is operated within Sharia law.
A free demonstration account is also available which gives potential clients the opportunity to test the trading platform and try out a range of strategies without having to risk any of their own funds.
24FX Customer Contact Options and Banking Methods
The 24FX customer contact centre is available to be contacted 24 hours a day, 7 days a week through a number of methods including:
- Email – there are three separate email addresses to target specific departments: compliance, general and customer support
- Telephone – there are three telephone numbers based in Cyprus, the UK and France
- Live Chat – available through the website
There is also a helpful frequently asked questions section available through the website which answers most of the common queries posed by investors as well as a glossary which provides an explanation for most of the popular terms involved in trading.
When it comes to banking methods, there are many different options to choose from so there is sure to be one that suits the preference of most traders. From the traditional to the contemporary, funds can be deposited into a live trading account via one of these options:
- Bank wire transfer
- Visa Electron
The minimum deposit accepted at 24FX is $250 and deposits can be made in one of four currencies:
- Pounds Sterling
- US Dollars
- Japanese Yen
Withdrawing funds is simple and can be done by completing a withdrawal form and sending it via fax or by email. Funds are transferred back via the same method as the original deposit was made and withdrawals will take a maximum of seven days to complete depending on the type of account held. There is no minimum withdrawal amount.
Overall, there is a lot to recommend this broker. As they are regulated, they can be considered to be reliable and reputable, and with their various account types they cater for the needs of all kinds of investors. Their range of payment methods and excellent customer service also makes this a good choice of broker.