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24FX Review



Overall Rating


Rated #196 of
Recommended FX Brokers

💰Minimum Deposit

USD 250

🌐 Regulators


📱 Trading Desk

MetaTrader 4 (MT4)



📈 Total Pairs

☪️ Islamic Account


📊 Trading Fees


🕒 Account Activation Time

24 Hours

🏛️ Visit Broker


According to research 24FX is a Forex broker located in Cyprus, a nationally recognized international leader in the banking and trading industry.

The company is owned and operated by Rodeler Ltd. and regulated by CySEC in Cyprus. They also comply with The Markets in Financial Instruments Directive (MiFid) regulation.

The brokerage was introduced in 2014 with the aim to offer traders globally opportunities to trade Forex, commodities, indices, and stocks with the use of up-to-date market technology in a transparent and safe trading environment.


A quick overview of our 24FX Broker review:


24 FX provides trading on different devices with the use of MetaTrader4, the Sirix WebTrader, and a 24FX Mobile trading platform that can execute trades on either an iPhone or iPad or other smartphone or tablet.

A Forex broker provides traders with access to platforms that allow them to buy and sell foreign currencies and are also known as retail forex brokers or currency trading brokers. Retail currency traders in turn use these brokers to gain access to the 24-hour currency market for speculation purposes.

Finding a reputable 24FX review local or worldwide can be a difficult process, especially finding a complete list from a trustworthy reputable source.

Below is an in-depth review regarding 24FX to help you make an informed decision before opening your account or trading on their platform.


Let’s get started.


Awards and Recognition

In the world of forex broker companies being honored with awards from esteemed organizations or publications, count much for the company’s reputation.

Although 24FX is rated highly by some customers in personal reviews, there is no definite information available on the 24FX homepage about any awards the company had received.


24FX Accounts

A forex account is a trading account held by a trader with a company like 24FX, that is issued with the primary purpose of trading through its platforms. Usually, the number and type of accounts that a trader can open with a broker company differ according to the country in which the brokerage operates, the country of residence of the trader, and the regulatory authorities under whose jurisdiction it operates.



Types of Accounts and its Features

24FX offers the following account types:


Demo account:

With a demo account, new traders can first practice trades and strategies with virtual money and without putting any of their own money at risk.


Silver account:

This account requires a minimum deposit of $250, it uses a fixed spread starting from 3 pips and has a minimum order of 0.01. It offers the use of hedging to traders.


Gold account:

A minimum of $5 000 is needed to open a gold account with 24FX. The account offers dedicated account managers, 24-hour support during the week, videos and online webinars as well as news alerts. Gold accounts’ minimum spreads start at 2 pips.


Platinum account:

Traders willing to invest $20 000 can open a Platinum account which also offers 24/5 support, videos and online webinars, news alerts, and dedicated account managers. Platinum accounts enjoy the best spreads, starting from 1.5 pips.


Islamic account:

Muslim traders can open an account that operates free of overnight interest and commissions, as prescribed by Islamic Sharia law. Spreads for this account are fixed and special support from an account manager is available 5/24.


Overall Rating


Rated #196 of
Recommended FX Brokers

💰Minimum Deposit

USD 250

🌐 Regulators


📱 Trading Desk

MetaTrader 4 (MT4)



📈 Total Pairs

☪️ Islamic Account


📊 Trading Fees


🕒 Account Activation Time

24 Hours

🏛️ Visit Broker


Deposits and Withdrawals

The 24FX Silver account requires a minimum deposit of $250, the Gold account requires

$5 000 and the Platinum account $20 000.

Funds can be deposited in a 24FX account by means of credit and debit cards, bank wire, and payment wallets such as Qiwi, CashU, Neteller, Skrill, Sofort, Moneta, and GiroPay.

The company charges no deposit fees, but some fees are charged on certain types of withdrawals.

Withdrawals are processed within 7 days for Silver accounts, 5 days for Gold accounts, and 2 days for platinum accounts.


Cost and Fees, Commissions and Spreads

The cost of trading depends on different factors like commissions, spreads, and margins.

The spread of a currency pair is the difference between the bid and the asking rate. A pip represents the smallest increment that an exchange rate can move. One pip is 0.01 for currency pairs with JPY as the term currency and 0.0001 for all other pairs.

The amount of money required in your account to open a position is called the margin and is calculated according to the current price of the base currency against USD, the size (volume) of the position, and the leverage applied to your account.

Commissions are the charges imposed by an investment broker on a trader for making trades on the trader’s behalf. The level of commissions depends on the asset being traded and the type of service offered by the broker.

Execution-only brokers, which do not involve in personal investment advice and give traders complete control over how they trade the markets, usually charge lower commissions.

While the contract for differences (CFDs) trading is a form of derivative trading that enables traders to speculate on the rising or falling prices of fast-moving global financial markets, it’s trading on shares will incur commission. CFD trades on other markets have no commission but do wrap a spread around the market price of a certain instrument.

24FX trading incurs the following costs:

For the 24FX Silver account, the minimum spread starts from 3 pips. For Gold accounts, minimum spreads start at 2 pips and for Platinum accounts at 1.5 pips.

The company also charges a fixed swap fee on commodities and indices for keeping a position overnight open.



Leveraged product trading magnifies a trader’s potential profit – but of course, also increases the potential loss. This facility that enables traders to get a larger exposure to the market than the amount they deposited to open a trade, is called leverage.

The amount of leverage is expressed as a ratio, for instance, 50:1, 100:1, or 500:1. Assuming that a trader has $1 000 in a trading account and is trading ticket sizes of 100 000 USD/JPY, that leverage will equate to 100:1.

24FX allows a maximum leverage ratio of 1:400, depending on the type of account and instrument traded.



Forex brokers often lure new traders with offers of deposit bonuses. This can be useful, but it is essential to discern what the conditions are to really benefit from a bonus.

The bonus usually compensates traders for choosing a certain broker, since once the account is active, the trader will have the same expenses as any other. The bonus usually only starts giving some expenses back to the trader, once the person has proved himself as an active trader.

Hence, although no deposit bonuses are a great way to help you start trading, the terms to benefit from it often require trading with such a high volume before you can withdraw profits, that it may not be worthwhile.

The European Securities and Markets Authority (ESMA) has also recently placed investor protection measures on the marketing, distribution, or sale of CFDs which prevent brokers to provide the retail client with a payment, monetary or excluded non-monetary benefit in relation to the marketing, distribution or sale of a CFD, thus ruling out the offering of such bonuses.

The 24FX website gives no clear information on a deposit bonus but does indicate that the broker offers traders a welcome bonus of up to $10 000 upon funding accounts. The amount depends on the level of deposit the client makes and cannot be withdrawn unless a trader meets the requirements of their bonus policy.

There are also indications that Japanese traders who sign up can get a 100% match on their initial deposit of over $1 000 and up to $2 000. For lower deposits, a 25% bonus is offered between $250-500 and 50% between $500 and $1000.


Trading Platforms, Software, and its Features

The forex trading software, also called the platform, provided by a broker company to its clients to carry out their trades can be a multi-asset one that allows clients to trade forex as well as other asset classes like CFDs on stocks, stock indices, precious metals, and cryptocurrencies.

Some companies provide an own proprietary platform, while others prefer well-known platforms. If there is a choice, the trader should base his choice on the instruments that he would like to trade.

24FX offers the following platforms:


MetaTrader 4

MT4 serves traders of all experience levels and budgets. Its information is clearly displayed with instant access to four basic instruments and four different financial markets.

The 24Fx platform offers preloaded indicators and charting tools, making analysis accurate and fast.



The Sirix powered WebTrader gives traders access to market information from any kind of internet-connected device that supports a web browser. Clients of 24FX can access their WebTrader platform for any trading decision and have complete market access at their fingertips at all times.



The 24FX Mobile Trading Platform can be accessed from any smartphone, tablet, or iPad and used to open trades, monitor investments, and manage accounts. The Mobile Trading Platform is designed to fit all major mobile devices, regardless of the operating system.


Markets, Produces, and Instruments

24FX offers customers the opportunity to trade with more than 40 forex currency pairs, stocks, indices, commodities, CFDs, crude oil, gold, and silver.

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.

Forex trading, or currency or FX trading, involves the currency exchange market where individuals, companies, and financial institutions exchange currencies for one another at floating rates.

As with currency exchange markets, commodity markets offer trading in contract-based tradable goods.

Equity or stock indices can represent a specific set of the largest companies of a nation or they can represent a specific stock market. It is actual stock market indexes that measure the value of a specific section of a stock market.

The trading of gold, silver and other precious metals as hard commodities is contract-based.

The high volatility of energy prices due to political, environmental, and several other factors, is a typical feature of this product, making it a popular trading choice.

Tradable cryptocurrencies include the following:

Bitcoin (BTC) is the digital currency with the largest market capitalization and price levels and dominates 50% of the total crypto market cap.

Litecoin (LTC) is similar to Bitcoin but differs in terms of scalability.

Ethereum (ETH) is the second-largest cryptocurrency after Bitcoin and allows developers to create smart contracts on a platform.

Ripple (RPL) is popular among big banks with the Ripple network a next-generation real-time gross settlement system.

Bitcoin Cash (BCH) was created as a new version of the blockchain with different rules.



Safety and Regulation

Before deciding to join a broker and start trading, a potential trader needs to establish whether a broker like 24FX is safe to trade with. One of the surest benchmarks to measure the safety of a brokerage is to establish which regulating authorities are watchdogs over its actions.

Located in Cyprus, 24FX is registered and regulated by CySEC and the company also operates compliantly to The Markets in Financial Instruments Directive (MiFID) regulation. MiFID is a European regulation that increases the transparency across the European Union’s financial markets and standardizes the regulatory disclosures required for firms operating in the European Union.


Customer Support

Potential traders need to be assured that the broker company they chose can offer the necessary support and help whenever they may need it.

The 24FX support team can be via phone, fax, Skype, emails and a live chat option.

All 24FX account managers have a solid background in the financial industry and make themselves available round the clock. Representatives can be reached at the main offices in London and Cyprus as well as at their office in France.



Potential traders need to do as much as possible research about speculative trading before commencing to do it and while trading. Trading successfully relies heavily on knowledge and understanding of the markets, therefore research options offered by brokers form an integral part of its features when choosing the right company to trade with.

24FX offers research options like newsfeeds, the latest financial information, daily market reviews and daily reports. Furthermore, fundamental and technical analysis provides traders with other information they may need.

Highly informative and high-standard textual articles as well as an economic calendar that keeps traders acquainted with all the upcoming economic reports from countries around the world give further support while an Asset Index shows up-to-date prices provided by the broker’s liquidity provider.

Several calculators that help traders decide how and what to trade are available.


Education and Training

Before starting to trade, potential 24FX clients should arm themselves with all possible information and trading skills needed to be successful in the world of forex and commodity trading. If 24FX ’s website itself does not provide enough means, a trader should explore other information sources to obtain that skills and knowledge.

24FX does offer a package of free trading tools like online tutorials, webinars, and a free eBook. Although all are suitable for experienced traders, they are ideal for traders just starting.

A glossary containing financial terms and a FAQ page with information on trading account opening procedures and how to fund accounts are also available.



24FX seems to cover most bases needed by professional Forex traders. It offers a choice of trading accounts as well as demo and Islamic accounts with the best trading platforms in the industry. Their website is available in several languages.

24FX is fairly new, therefore lauded for its good choice of account types, the platforms offered, and easy-to-use website. Although a bonus is offered according to the landing page of their website, there is uncertainty on how it works.


You might also like: 24FX Minimum Deposit

You might also like: 24FX Account Types

You might also like: 24FX Demo Account

You might also like: 24FX Fees and Spreads

You might also like: 24FX Sign up Bonus

You might also like: 24FX Islamic Account



24FX warns potential traders that Forex and CFDs trading always carries a high level of risk, therefore may not be suitable for all investors.

Before clients decide to trade the products offered by 24FX, they are advised to contemplate their investment objectives, financial situation, needs, and level of experience carefully before investing money that they cannot afford to lose.

Especially when traders use 24FX ’s leveraged accounts, they should make sure to maintain a sufficient level of margin to sustain their positions, since trading Forex/CFD and Options on margin and using a higher than necessary leverage can be either beneficial or detrimental to a trader. It is always possible to sustain a loss of some or all of an initial investment.

While 24FX promises to make all efforts to fill a trade at the requested price, trading on-line does not necessarily reduce risks associated with currency trading, therefore quotes and trades are usually subject to the terms and conditions of a Client Agreement, which is accessible through the broker’s website.

Potential traders should first acquaint themselves with all these associated risks and seek advice from an independent financial advisor, which shows research recently done.


24FX at a Glance

Broker’s name 24FX
Headquarters Limassol, Cyprus
Year founded 2012
Regulating authorities CySEC, MiFID
Countries not accepted for trade The United States and possibly others
Demo account Yes
Islamic account (swap-free) Yes
Institutional accounts No
Managed accounts No
Maximum leverage 1:400
Minimum deposit $ 250
Deposit options Debit cards, Bank wire, Qiwi, CashU, Neteller, Skrill, Sofort, Moneta, GiroPay, and others.
Withdrawal options Debit cards, Bank wire, Qiwi, CashU, Neteller, Skrill, Sofort, Moneta, GiroPay, and others.
Platform(s) provided MetaTrader 4 for desktop and mobile, Sirix
OS compatibility Mobile, Web, iPhone, iPad, Android
Tradable assets Commodities, Metals, Stocks, Oil, Gold, and Indices. No ETFs and CFDs.
Languages supported on the website English, Arabic, Italian, French, Turkish, German, and Russian
Customer support languages English, Arabic, Italian, French, Turkish, German, and Russian
Customer service hours 24 hours per day, five days per week.


Overall Rating


Rated #196 of
Recommended FX Brokers

💰Minimum Deposit

USD 250

🌐 Regulators


📱 Trading Desk

MetaTrader 4 (MT4)



📈 Total Pairs

☪️ Islamic Account


📊 Trading Fees


🕒 Account Activation Time

24 Hours

🏛️ Visit Broker




Trading Environment


  1. How many instruments can I trade with 24FX?

You can trade several different instruments with 24FX, which include the following:

  • Forex,
  • Commodities,
  • Indices
  • Stocks.


  1. Which platforms are supported by 24FX?

24FX provides the following popular trading platforms:

  • MetaTrader 4
  • WebTrader
  • Mobile Trader.


  1. Does 24FX offer leverage?

Yes, 24FX offers maximum leverage of 1: 400.


  1. What spreads can I expect with 24FX?

24FX offers a minimum spread from 3 pips for the Silver account, 2 pips for the Gold account, and 1.5 pips for the Platinum account. More information can be obtained from the customer support service.


  1. Does 24FX charge commission?

More information on commissions can be obtained from the customer support service.


  1. Is 24FX regulated?

Yes, 24FX is regulated by CySEC and complies with MiFID regulations.


  1. Is 24FX a recommended forex trading broker for experts and beginners?

24FX offers a fair trading environment for all types of traders.


  1. What is the overall rating out of 10 for 24FX?





  1. What is the difference between a demo and a live trading account?

A demo account is offered by broker companies and funded with virtual money that enables a prospective customer to experiment with the company’s trading platforms and its features, before setting up a real account funded with the customer’s actual money.


  1. Can I convert my demo account to a live trading account with 24FX?

The demo account can be used alongside live accounts.


  1. Which live trading accounts does 24FX offer?

  • Silver Account
  • Gold Account
  • Platinum Account
  • Islamic Account


  1. What are the available deposit currencies for a live trading account?

USD and more


Deposits and Withdrawals


  1. What is the minimum deposit for 24FX?

$ 250


  1. How do you make a deposit and withdrawal with 24FX?

24FX offers the following deposit and withdrawal methods:

  • Debit cards,
  • Bank wire
  • Qiwi,
  • CashU,
  • Neteller,
  • Skrill,
  • Sofort,
  • Moneta,
  • GiroPay,

The same method as used to fund an account must usually be used to withdraw money and monies will be only refunded to accounts in the same name as the trading account.


  1. Does 24FX charge withdrawal fees?

Some fees are charged on certain types of withdrawals and fees from financial institutions may apply.


  1. How long does it take to make a withdrawal?

Withdrawals are processed within seven days for the Silver account, five days for a Gold account, and two days for a platinum account.


Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

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