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24FX – Forex Broker Review

24FX is a forex trading broker owned by Rodeler Ltd, a financial services company also owner of the 24OPTION binary options broker.

24FX was founded in 1999 and its registered offices are located in Limassol (Cyprus).

Rodeler Ltd is registered in Cyprus and authorized and regulated by the Cyprus Securities Exchange Commission (CySEC) with the license number 207/13 and the Italian CONSOB under the license no. 3853. This makes 24FX one of the top forex brokers in Italy.

In 2016 the Rodeler Ltd, in order to adhere to more strict service parameters required by Consob, has decided to completely renovate the team of managers, analysts and consultants.

With 24FX you can trade 24 hours a day more than 200 assets, such as currency pairs; the most important stocks of the US, the UK, Spain and Italy; more than 20 raw materials and the main stock market index.

Is it possible to access the service via three platforms: standard MetaTrader 4 (MT4), web based platform SIRIX and the mobile trading platform. The award-winning MetaTrader 4 platform is equipped with numerous features, including auto-trading and many analysis tools; Web Trader allows you to trade directly from the web, without download any program; the mobile platform is accessible from both Android and iOS.

24FX allows you to open a free demo account (with a first customizable deposit)  and then access to three types of real account: silver, gold and platinum.

The ‘Silver’ account requires a minimum deposit of € 100, fixed spreads for currencies from 3 pips and withdrawal within 7 days. 

The ‘Gold’ account is the most popular and requires a minimum deposit of € 5.000. This type of account adds benefits to the ‘Silver’ one as the fixed spread for currencies from 2 pips, the 24/5 support, access to webinars, videos and trading signals.

To open a ‘Platinum’ account, traders must deposit at least € 20.000. To the benefits of the ‘Gold’ account, 24FX give you also the access to a VPS (virtual personal server) while the spreads on currencies start at 1,5 pip.

Regarding spread and leverage, currency attract the low spreads starting from 1.5 pip, while commodities have variable spread from a minimum of 0,0005 for oil. Index and stocks (with a lever / margin 1:10) also have variable spreads starting respectively from a minimum of 0,9 (US500) and 0,1 (Alcoa). Forex leverage is 400: 1 and most of the spreads are fixed.

In order to support trading and training, 24FX offers a set of tools that include a complete glossary of terms used in forex, an economic calendar, trading hours guide, introduction to forex trading and strategies, fundamental analysis and analysis technical, daily reviews of the market, tutorials and free eBooks. We can find also the minimum lot calculator, the Pip calculator and the Fibonacci Pivot Point.

Customer support is available 24/7 via email, chat and phone. It is available in 7 languages including also Italian.

Unlike 24option which is currently one of the top binary option brokers, 24FX is relatively young and it still has a long road to reach the level of top forex brokers.


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