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24FX Experience – Review

24FX is a well-known Forex and CFD broker. The broker has only been on the market since 2013. Nevertheless, 24FX has gained a very good reputation in short time and enjoys great popularity. The Forex Broker is operated by Rodeler Limited, a very experienced company from the financial sector. Traders can trade on 24FX with CFD’s / Forex on stocks, commodities, indices and of course, currencies as well. The Underlying Index of the broker is quite versatile. Overall the provider serves both inexperienced and professional traders. For 24FX, a large selection of underlyings, an adequate customer support, a relatively low minimum deposit, fixed spreads, high leverage and the numerous free-of-charge training opportunities speak for themselves.

  • Regulated by the CySEC
  • Minimum deposit of 250 euros
  • EUR/USD low spread of 3 pips
  • Over 150 different underlyings
  • Wide selection of further training possibilities
  • Maximum leverage of 1: 400
  • App for tablet and smartphone
  • Demo account

General information about 24FX

24FX was founded by the financial company Rodeler Limited, the broker’s trading platform went online in 2013. The experienced financial service provider also operates the world-renowned broker 24Option. The headquarters of 24FX is located on the Greek island of Cyprus. Therefore, the broker is subjected to strict regulation by the Cypriot financial regulator CySec. In addition, the broker adheres to the strict MiFID guidelines. This ensures that customer deposits are always managed separately from the company’s assets. Because of strict regulation, traders need not worry about the security and seriousness of 24 FX. The CFD and Forex broker is only a few years on the market, but because of this has no disadvantages compared to the older brokers. Thanks to a very wide range of trading at 24FX, something suitable should be found for every Forex or CFD trader.

Trading opportunities and offers at 24FX

The 24FX asset index includes more than 150 underlying assets. These are divided into equities, indices, commodities and currencies. Particularly large is the selection of the underlyings in the equities sector. Here traders have more than 70 equity underlyings available. There are both stock-based equities of the well-known US companies as well as many German securities, such as from BMW, Allianz or Bayer. The offer with 16 different indices remains quite manageable. The selection of currency pairs is much greater. Overall, forex traders can trade with 43 different currency pairs. Among these are the well-known majors as well as some exotics. In the case of raw materials, the selection is also quite generous. CFD traders have the choice of 17 commodities, such as gold, Oil, and silver. Raw materials such as cotton, coffee, sugar and orange juice can also be traded. The versatile trading offer of 24FX should, therefore, serve the needs of every Forex and CFD trader. The trading conditions depend on the chosen account model. The silver account can be opened with a minimum deposit of 250 euros. Traders with this contingency can trade the popular currency pairs, for example, EUR / USD, from a low spread of 3 pips. Compared to other brokers, 24FX is thus at a normal market level. Forex traders benefit from a very high leverage ratio. Up to 1: 400 is possible. As a result, traders can also make high profits with a very small investment. On the other hand, the risk also increases. Indices and raw materials can be operated with a maximum leverage of 1: 100. Forex/CFD trading is subject to high risk and is therefore not suitable for everyone. The losses can exceed the deposits.

Platform of 24FX

As a trading platform, 24FX customers have two different options. You can either opt for the professional and highly popular platform MetaTrader or the in-house WebTrader by 24 FX. The MetaTrader allows customers to download it for free and install it first on their computer. Traders benefit from a very clear and user-friendly platform, which can be adapted to their individual needs. The numerous functions include comprehensive analysis options and charting and layout functions. The most important indicators are already integrated into the platform. The MetaTrader is not without reason one of the most popular trading platforms. The Trader platform offers all the functions a professional trader needs, thanks to its simple design it’s also suitable for beginners. Alternatively, traders at 24FX can also use the specially developed WebTrader. This can be used directly via the Internet browser. The web-based trading platform also provides numerous functions, such as statistics, analysis, and live charts. Traders can look at their open or closed trades and accelerate trade with the Trading Club. Several assets can be displayed on the desktop at the same time . Especially useful for beginners is the copying function. Thanks to this, they can copy the trades from experienced traders 1:1. The WebTrader does not only work on any desktop computer, the platform can also be used on a smartphone or tablet PC. This means that the traders do not have to download and install an app and can participate directly in the Forex and CFD trading through their mobile browser.

Short overview

Broker name

24FX

Website url

https://www.24fx.com/

Founded

2013

Regulated

CySec

Max leverage

400:1

Spread € / $

3,0 Pips

Min. Trade

0,01 lot

Underlyings

Approx 150

Min. Deposit

250€

Max. Bonus

100%

Demo account

Payment

Credit card, Instant transfer, Neteller, Skrill, Paysafecard

Mobile

Loss protection -

Kontoarten und Kontoeröffnung

24FX, new customers have the choice between 3 different account types. These differ with regard to the minimum deposit, the benefits, and the trading conditions. At the basic account type, the payout takes up to 7 business days. The gold account can be opened with a minimum deposit of 5,000 euros. For this, the traders receive free webinars and videos, a personal account manager and a 24/5 support in German language. Forex traders with the gold account can trade from 2 spreads and benefit from withdrawals within a maximum of 5 business days. The Platinum account can be opened with a deposit of 20,000 euros and offers the same advantages as the Gold account. In addition, with platinum account traders can benefit from fixed spreads starting at 1.5 pips, a maximum payout period of 2 business days and a free as well as private VPS server. Regardless of the type of model selected, the Account opening is very simple and done within a few minutes. New users can create a demo or a live account at 24FX. The demo account is completely free and is particularly suitable for beginners. The account can be used for an unlimited period of time and gives the beginners an extensive insight. If a live account is created, a deposit must be made in the last step. Customers have the choice between many different payment methods. In addition to the classic methods, such as credit cards and bank transfers, 24FX also supports some of the most famous e-wallets. Via Neteller, Skrill, and OKPay you can make deposits in real time. Alternatively, the popular instant transfer is offered. Before a first payout can be made, the traders must still verify themselves with regard to the money laundering legislation. For this purpose, you must upload a proof of residence and a copy of your ID card.

Customer service and further training opportunities

The 24FX customer service is one of the advantages for gold members. Traders can reach customer support on work days around the clock. This is possible either by e-mail or by phone. Unfortunately, not all customers benefit from the telephone support and the German landline number. Only traders with at least one Gold account can call the number. Traders with a silver account can contact 24FX customer service via e-mail. Emails are generally answered competently and promptly. Nevertheless, this restriction obscures the positive image of the broker. In addition to the free demo account, beginners, as well as advanced users, benefit from a very extensive training program. This includes a detailed introduction to CFD and Forex trading. All important trading tools, trading methods, trading strategies, fundamental as well as technical analyzes and the leverage are explained. In addition to video conferencing, 24FX customers can also participate in regular live webinars. The only drop of vermouth: The extensive training possibilities are only available to customers with at least one gold account. Traders with a silver account are left out.

Trading bei 24FX

Conclusion

Although 24FX is brokers that is relatively new on the market, it enjoys a huge popularity and a very good reputation in the industry. The Broker offers many positive features and advantages. Thanks to strict regulation and the numerous guidelines that the broker has to adhere to, clients need not to worry about the security of their money. Both Forex and CFD traders are benefiting from a very broad-based trading offer and definitely can find something suitable. Beside all the majors, there are enough exotics available. Registration is simple and quick. The 3 different account types make it suitable for beginners, advanced and for professional traders. A welcome gift or a deposit bonus is not available for new members. 24FX also offers its customers a free demo account. This has no restriction and gives the new customer a detailed impression. Trading conditions depend directly on the selected contingency model and are lower than the market average for the gold and platinum accounts. The proven and professional trading platform MetaTrader4 is one of the other advantages of 24FX. Alternatively, customers can trade directly from their browser or while on the road. The numerous further training possibilities are exemplary in every case but are unfortunately not available to all customers. The same applies to telephone customer support. Despite these two minor drawbacks, 24FX is definitely one of the best CFD and Forex brokers.