Regulation CySEC
Accepts US Clients: No
Min. Deposit: $250
Leverage: 1:400
Platforms: iPhone App , MT4 , Web Trading
Overall rating: 3.22/5

Broker Overview

Company Information

Broker’s Name 24FX
Website www.24fx.com
Headquartered in Limassol
Founded in 2013
Regulating Authority CySEC
US Clients Accepted  No
Telephone Number 35725262208
Fax Number 35725030646
E-mail Address support@24fx.com

Account Options

Type of Broker ECN
Commission No
Mini Account  Yes
VIP Account  Yes
Segregated Account  Yes
Islamic Account (Swap Free)  Yes
Demo Account  Yes
Institutional Accounts  Yes
Managed Accounts  Yes
Maximum Leverage 1:400
Minimum Deposit $250
Deposit Options Bank Wire Transfer , Credit Card , Debit Card , Moneybookers , Neteller
Withdrawal Options Bank Wire Transfer , Credit Card , Moneybookers , Neteller

Bonus & Rewards

No Deposit Bonus  No
Bonus for First Deposit  Yes
Is the Bonus Based on the Volume of the Transaction?  Yes
Other Bonuses  Yes

Trading Platform

Platform Type iPhone App, MT4, Web Trading
Platform Languages Multi-lingual
OS Compatibility Mac OS , Windows , Android
Streaming News Feed  No
Trading Signals  No
Automated Trading  Yes
Trade From Charts  Yes
Market Commentary  Yes
E-mail Alerts  No
Mobile Alerts  Yes
Scalping  Yes
Hedging  Yes
Trailing Stops  Yes
Guaranteed Stop Loss  Yes
Guaranteed Limit Orders  No
Guaranteed Fills  Yes
Interest on Margin  No
One-Click Execution  Yes
OCO Orders  Yes

Customer Service

Customer Support Languages English, Italian, German, Russian, French, Arabic
Customer Service Hours 24h
Place Trades Over the Phone?  No

24FX - Review

Established in mid 2014, 24FX is one of the relatively newer forex brokers that had joined the online forex trading industry. Although 24FX doesn’t have much of an operational track record, they are still highly regarded by the industry as the holding company Rodeler Ltd which owns the 24FX brand is already a well known entity.

One of their better known brands is the 24Option binary options trading platform. With trader’s satisfaction as their top priority, 24FX aim to provide their traders with the best possible trading environment in order for them to trade CFDs and forex with peace of mind.

24fx-forex-trading-time

Trading Platforms


 

To provide their traders with an unimpeded access to the financial markets, 24FX have provided 3 different types of trading platforms for their traders to trade with. They can choose to use the MetaTrader 4 (MT4) platform which is the forex industry’s standard trading platform well known for its reliability and powerful tools.

Alternatively, 24FX’s traders can opt to trade with the Sirix powered WebTrader trading platform. Designed to be accessed with any internet connected devices that support a web browser, the WebTrader comes equipped with advanced tools such as Live Charts, Trading Cubes and Visual Trends.

24fx-platform

Smartphone users are also not left out as 24FX also provide this group of traders with trading apps that are supported on iOS and Android powered mobile devices. With the 24FX mobile trader, 24FX’s clients can now better manage their time for maximum productivity.

Trading Account Types

24FX traders have a choice of 3 different types of trading accounts. They consist of Silver Account, Gold Account and Platinum Account. Silver accounts require a minimum deposit of $250 to open while Gold accounts require $5000 to open. The Platinum account is the most exclusive of all the trading accounts and requires you to deposit a minimum of $20,000.

 

Commission & Spreads

The spreads at 24FX are fixed and vary with the type of trading account which the trader  is trading from. For Silver account, the minimum spread starts from 3 pips. Gold accounts minimum spreads are slightly lower with the minimum starting at 2 pips. Platinum accounts enjoy the best spreads with the lowest being 1.5 pips.

 

Customer Support

For a forex broker, 24FX customer support services are unprecedented. While the industry standard is to offer traders 24/5 customer support, 24FX has gone one step further by offering their traders 24/7 support instead. Their website is available in 7 major languages and traders can contact the support team anytime through email, live chat and the telephone. Localized telephone numbers are also provided for the benefit of traders for countries such as Bahrain, Cyprus, France, Germany, UK, Italy and Russia.

 

Pros:

  • Fast Processing of Withdrawals
  • Intuitive Platforms
  • Mobile Trading Supported
  • Reputable Broker
  • Tight Spreads
  • Variety of Trading Tools Provided
  • High Bonus offered

 

Cons:

  • U.S traders not accepted
  • Lacking is MT4 APIs support

 

Conclusion

Although 24FX is fairly new to the retail forex industry, this broker has managed to maintain the same high standard of services which they have provided under the 24Option brand. The fact that they are also a regulated is plus point for this broker. In our opinion, traders need not have any major concerns when trading with them.