In this Forex24 Review, we are going to take a look at the offer that this broker prepared for its traders. Forex24 is regulated by the CySEC in Cyprus. Forex24 operates on the financial market since 2014. When it comes to trading platforms, the broker features MetaTrader 4. The Forex24 minimum deposit is 100 USD.
Between 74-89% of retail investor accounts lose money when trading CFDs You should consider whether you can afford to take the high risk of losing your money
Basic information from this Forex24 Review
Website address: | forex24.com |
Operated by: | LYDYA FINANCIAL LTD. |
Licensed and authorised by regulatory bodies: | CySec |
Supported languages: | English, German, Spanish, French and Italian |
Customer support available via: | E-mail, phone, live-chat |
Contact details: | [email protected] +35722222466 |
Available deposit methods: | Bank transfer, Debit and Credit Cards, Skrill, Neteller |
Available withdrawal methods: | Bank transfer, Debit and Credit Cards, Skrill, Neteller |
Minimum deposit: | 100 USD |
Min. trade in lots: | 0.01 |
Spreads: | Typical spread on the currency pair EUR/USD - 2,4 pips * on standard account type |
Tradable assets: Might be a CFD. | Forex, stocks, commodities, indices |
Mobile app: | |
MetaTrader 4: | |
Other trading platforms: | |
Maximum leverage: The maximum available leverage can be limited by local financial regulators or by international regulations, in such case, the displayed maximum leverage may not match the leverage you can actually trade with. For instance, in the European Union, the financial regulator ESMA restricts the maximum available leverage to 1:30 when trading major currency pairs, 1:20 when trading minor pairs and commodities and 1:2 when trading cryptocurrencies. Similar restrictions apply in Australia and possibly in other jurisdictions. | 1:400 |
Social trading: |
Forex24 Fees (typical spreads)
We have scanned fees (typical spreads) that Forex24 charges when trading popular currency pairs, here is their breakdown in pips.
EUR/GBP | EUR/USD | USD/CHF | EUR/JPY | GBP/USD | USD/JPY |
---|---|---|---|---|---|
* | 2,4* | * | * | * | 2,3* |
*Typical spreads were recorded on 17.09.2020 at 10:00 for the standard account. Forex24 spreads in the table above serve as illustrative examples only as they for instance, may change according to the market conditions.
Random reviews of competing FX & CFD brokers: MBroker, Velocity Trade, AngelBroking and Vlom
Frequently Asked Questions
🧐 Is Forex24 a Scam?
Forex24 is a broker licensed and regulated by the CySec. While regulation gives to brokers much needed credibility, it still does not mean every regulated broker is honest. In order to be sure that Forex24 is not a scam, read our trader reviews and check other popular trading related websites and forums.
🆓 What is the Forex24 minimum deposit?
In order to start trading with Forex24, you have to deposit at least 100 USD (Trading accounts can also be held in USD, EUR, GBP).
📵 What deposit and withdrawal methods Forex24 supports?
⚖️ Would you recommend me choosing Forex24?
We don’t have our own personal experience with Forex24. However, because the broker is regulated by the CySec, there is a high chance that it is not a scam. With that being said, it still does not mean that Forex24 is the best option, as there are also hundreds of other regulated brokers with similar or even better trading conditions.
Should you be looking for a highly reliable broker featuring forex trading and CFDs, you can get your hands on our marketing broker Etoro – (77% of of retail investor accounts lose money when trading CFDs with this provider), which is a CySEC regulated company that allows trading from as little as $50 and charges highly competitive fees on all assets.
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 can afford to take the high risk of losing your money ¹ Variable spreads, spreads recorded for the EUR/USD on 11.01.2024 at 11:42 GMT.