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Regulated: CySEC and MiFID
Min Deposit: $250
Min Trade Amount: 0.01
US Clients:
Bonus: Up to $10,000 Welcome Bonus
Number of Assets: 100+
Leverage: 400:1
Free Demo Account:
Trading Platform: MT4, WebTrader, Mobile Trading
Types of assets: Currencies, Stocks, CFDs, Commodities, Indices
Payment METHOD NAME Charge Time

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Full Review

24FX is a forex trading brand owned and operated by Rodeler Ltd, which is a financial services company registered in Cyprus, and authorized and regulated by the Cyprus Securities Exchange Commission “CySEC” under license number 207/13.

24FX was established in 1999 and its headquarters are located at Frema Plaza, 1st Floor, 39 Kolonakiou Street, Ayios Athanasios, in Limassol CY-4103. This broker offers traders a wide variety of assets including currencies, stocks, CFDs, commodities, indices, Crude Oil, and Gold & Silver.

Promotions and Account Types

24FX offers traders a welcome bonus of up to $10,000 upon funding their accounts. This amount depends on the level of deposit made by the client and cannot be withdrawn unless a trader meets the requirements put down in the bonus policy.

24FX offers traders three different types of trading accounts that are determined based on the amount of money deposited. This broker also does provide traders with an opportunity to trade using a demo account and there is also an option of opening an Islamic account for the Muslim faithful.

Trading Accounts

Silver: This account type requires a minimum deposit of $250 and it comes loaded with the following features: Withdrawal processing in 7 business days, Fixed spreads for currencies starting from 3 pips, fifth decimal rates, hedging allowed and a minimum order size of 0.01.

Gold: This is the most popular account type at 24FX and it requires traders to deposit a minimum of $5,000. This account type comes loaded with a lot more benefits and features than the ones received by Silver account holders. Some of the additional benefits/features include 24/5 support, access to webinars and videos, news alerts, and spreads for currencies begin at 2 pips, plus the rest of the benefits received by Silver account holders.

Platinum: This is the most senior account type at 24FX, and traders must deposit at least $20,000 to access the features/benefits associated with it. Notably, this account type provides traders with access to a free private VPS, while currency spreads start at 1.5 pips. Plus the rest of the benefits received by silver account holders.

Islamic Account: This a commission free account which comes with various Islamic banking features, including free swaps regardless of how long traders choose to leave their positions open, fixed spreads and special support 24/5 among others.

Demo Account

This is a risk free account, which allows traders to practice trading via the various platforms without having to commit any funds. Traders can use this account type to test the broker’s web-trader, mobile platform and the MT4 platform server.

Trading Assets and Spreads

24FX has selected some of the most popular and liquid assets from market around the world including major currency pairs tradable 24 hours a day, stocks from the US, the UK, Spain and Italy, more than 20 leading top commodities, and leading indices.

Currencies attract fixed spreads which begin from as low as 1.5 pips, while commodities have variable spreads beginning from as low as 0.0005 for Gasoline. Indices and stocks (margin of 1:10) also have variable spreads beginning from as low as 0.9 US 500 and 0.1 Alcoa respectively.

Trading Platforms

At 24FX, traders can trade via three platforms, which include a mobile trading platform that allows traders to trade on the go.

There is the multi-award winning MetaTrader 4 trading platform, which comes with several features including auto-trading capabilities and analysis tools.

There is also Webtrader platform that allows traders to trade directly from the web, thereby no need for downloading to begin trading.

Education and Resources

Traders at 24FX can also enjoy a variety of trading tools and resources, which include a comprehensive glossary of terms used in forex trading, a forex trading calendar, guides on trading hours, introduction to forex trading, forex trading strategies, fundamental and technical analyses, daily market reviews, tutorials and FX eBook, among others.

Other tools include Deal Size Calculator, Pip Calculator, Fibonacci Calculator and Pivot Point Calculator.

Deposits and Withdrawals

Trader at 24FX can deposit and withdraw funds in their trading accounts via Wire Transfer, Credit/Debit Card, Neteller, Skrill, Sofort, Moneta, GiroPay, CashU, Kiwi, AstroPay, and Neosurf, among others.

The minimum deposit at 24FX is $250. Withdrawals are processed within 7 days for Silver account, 5 days for Gold account and 2 days for platinum account.

In order to withdraw the cash bonus received along with profits earned from trading the bonus, traders must reach achieve a trading volume of 10,000 for every $1.00 worth of bonus.

This means that if a trader received $100 in bonus, then that trader must achieve $1,000,000 worth of trading volume in order to withdraw the bonus.

This trading volume must also be reached within the given trading period, that a trader needs to achieve the requirement, otherwise the bonus along with profits earned from it expire.

Traders must verify their identities and physical address where applicable in order to make their first withdrawal. This means uploading certain documents such as a copy of credit card information, partially covered, as well as, recent utility bills.

Support

Traders at 24FX can contact support via Email, Telephone and Live Chat.

Live Chat: 24/5 Live Support

Email: [email protected] (customer support).

Telephone: +357-252-62208 plus several others for various satellite offices.