Forex24 is a regulated online financial services provider that offers a variety of trading instruments via the MT4 trading platform. There are multiple account options to suit the individual trading objectives and capital of clients.
Forex24 Review, Pros & Cons
- Regulated broker
- Multiple financial instruments
- User-friendly MetaTrader 4 trading platform
- A range of trading tools
- Some educational materials
- No USA clients
- No MetaTrader 5 platforms
- Not the lowest commissions
- Not the tightest spreads
- No live chat support
In this detailed Forex24 review, our online broker research team has covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Forex24 is a regulated online trading broker that operates from Cyprus, providing traders with the popular MT4 trading platform for trading multiple trading instruments, including forex, metals, indices, commodities, energies, equities, and more. Traders get to enjoy access to a range of trading and learning tools, as well as a client support team to assist them.
Forex24 is a brand owned and operated by Lydya Financial Ltd, a Cyprus Investment Firm (CIF) regulated and supervised by the Cyprus Securities and Exchange Commission (CySEC) with CIF Licence number 300/16 and Company registration number HE334292.
Forex24 does not provide services to residents of the USA, Canada, Japan, North Korea, Iran, Belgium, and some other regions.
Some Forex24 features and products mentioned within this Forex24 review may not be available to traders from certain countries because of legal restrictions.
Forex24 allows traders to trade the numerous offered assets using the intuitive MetaTrader 4 trading platform, which is amongst the most popular trading platforms in the industry. Forex24 MT4 has a user-friendly front-end trading interface with interbank liquidity and rapid execution speeds. Traders get to trade on the MT4 with no requotes and no rejections. The platform has the following features:
- Spreads from 0.3
- Pioneering Automated Trading system – Expert Advisors
- 1 Click Trading
- Technical Analysis Tools with 50 indicators and charting tools
- Hedging allowed
- VPS Functionality
- Multilingual Platform
- Trailing stop loss facility
Forex24 makes the MT4 platform available as a desktop application for Windows and Mac computers, a WebTrader, and a mobile app that is designed for Android and iOS devices and can be downloaded from the respective app stores.
Forex24 Trading Tools
An Economic Calendar is provided by the broker to enhance clients’ trading experience and keep them informed about the latest market news.
Traders are provided with a range of helpful educational materials that help to improve their trading skills and knowledge. These include news, announcements, FAQs, and a glossary of trading terminologies along with their detailed explanations.
The broker offers the following trading instruments: forex, metals, indices, commodities, energies, equities, and more.
Forex24 Accounts & Fees
The broker offers a variety of different trading account options to meet the individual trading needs of clients, and they include Mini Bronze, Classic Silver, and Pro Gold Accounts. The accounts are denominated in EUR, USD, and GBP.
As broker fees can vary and change, there may be additional fees that are not listed in this Forex24 review. It is imperative to ensure that you check and understand all of the latest information before you open a Forex24 broker account for online trading.
Forex24 provides traders with a professional-client support team responds quickly to traders’ inquiries. They can be reached through email, telephone, social media, or by filling the form on the broker’s website.
Forex24 Deposit & Withdrawal
Traders can deposit and withdraw funds to and from their trading accounts using any of the following payment methods:
- Bank transfer
- Credit/Debit cards
- Online payment processors such as Neteller and Skrill
The time taken to process transactions may vary depending on the payment provider or method.
Forex24 Account Opening
Account opening can be done in a few simple steps: From the homepage, click on the ‘Real Account’ button, complete your contact details, and click on Next Step. You should now go to your email to click on the link sent to you, to verify your email address. After that, you can upload your Proof Identification and Proof of Residence to the appropriate sections and then wait for account approval.
It is imperative to ensure that when you are going through a broker application, you clearly read all of the broker’s terms, conditions, and policies. Only proceed if you fully understand and agree to them.
Forex24 is an online trading that allows its clients to trade several financial markets online through the provided trading platforms. They provide traders with a range of useful trading and learning tools, as well as a client support team to assist them. There are multiple account options with competitive spreads and flexible leverage.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.