24CFD Review Is 24cfd.com A Legit Broker

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24CFD Review

24CFD

Trading Conditions

License

Client Review

Customer Support

Reliability

  • Attractive trading condition
  • Mashup of Forex and Binary Options
  • Unlicensed (Fraud!)
  • No demo
  • No Metaquote’s software
  • No CFDs on indices and commodities

24CFD.com Review: this is the website of a Forex and binary options trading broker that claims to be based in UK. Do you support 24CFD’s average rating? Is 24CFD legit or a scam broker? P lease share your experience with other investors in the customer review section below.

24CFD is considered not safe, as it is not regulated by top-tier financial authorities, like the CySEC in Europe, UK FCA, the Australian ASIC and the US CFTC.

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24CFD Review: Is 24cfd.com A Legit Broker?

24cfd.com Review: this is the website of a broker offering Binary Option trading and CFDs as well as Forex. Is it safe to invest funds in 24CFD? Read this revealing review to find out important details about this Forex trading company.

The most vital part of our reviews is the uncovering of if a company or Forex broker is properly licensed or not. To do this, we first establish the location or region where it claims to be based. Then we check with the commission or authority regulating trade there whether it is listed among regulated companies or not.

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We are not informed of what the name of the company running this brokerage is and from where it is operating. Nothing is said about regulation or license. Our readers should be aware that this is not a mistake but a tactic to escape the need to provide proof of being under a regulatory commission.

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Licensed companies are always forthcoming with registration details. Trading with a Forex broker that is unlicensed poses many dangers to traders’ funds. Misappropriated funds may not be recoverable by the government as well. Unlicensed brokerages are not under any rules of traders and this puts traders in more risk than they will be in if they had chosen properly licensed ones.

Advantages of 24CFD

Perusing the website of 24 CFD, we found some tempting details. It claims to provide clients with unlimited liquidity and the fastest execution payout. They also claim to offer many trading assets and binary options. It is common for Forex brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.

However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.

24CFD Trading Platform

This broker does not provide clients access to the MetaTrader trading platform but rather some sort of web-based type. We advise readers and traders to always look out for the MT4 or MT5 platforms. The MetaTrader platforms are commonly used because they allow the use of trading robots.

Legit brokers are known to offer at least the popular MetaTrader 4 or 5 trading platform.

These platforms are very good signs as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating systems. All can be used on desktops, Linus, Windows, iOS, and Android.

Tools that come with these trading platforms are also found to be useful for traders. It has proven to be user-friendly as well and helps traders in analyzing the market easily.

Trading instruments offered to traders are binary options, Forex currencies, and CFDs on commodities. We know that legit brokers offer currency pairs, indices, CFDs on many commodities and cryptocurrencies. It is important to let traders know the options open to them.

The maximum leverage offered to clients is 1:1000 and while this may seem generous, it is not advisable. High leverages can lead to a huge loss of funds as well. Spreads are fixed at 1 pip.

Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.

Deposit and Withdrawal methods on 24CFD

The means of making deposits and withdrawals with this broker are VISA, MasterCard, Bank Wire, PAYEER, WebMoney, Perfect Money, Skrill, Neteller, and Bitcoin. We find these options encouraging because standard and legit brokers make deposits and withdrawals available via Visa, MasterCard, and Wire Transfer. Many offer e-wallets like Skrill, Neteller, UnionPay, FasaPay, and so on.

The minimum deposit required to trade with the broker is $5 which is within the obtainable average of $100 to $250 usually required by many other brokers. Withdrawal fees and charges are not disclosed. We prefer it when brokers are transparent with these details.

This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.

Is 24CFD Licensed?

No. 24CFD is not a properly licensed and registered broker. The page itself is silent of regulatory details.

Regulated Forex brokers in Europe, America, Africa, Australia, and Asia are under many strict rules. The regulatory bodies like the FCA, FSCA, CySEC, AISC, NFA and many others have regulations protecting Forex traders from unfair brokers. This is why they come top as recommended Forex brokers.

Support

To get in touch with the broker or the customer service, interested traders should email at [email protected]

Conclusion

24CFD is not a properly licensed brokerage and thus we give it a low rating. Besides the missing registration, we find the lack of a MetaTrader trading platform discouraging as well. The spreads used are good and the transaction options are encouraging as well. It requires an affordable minimum deposit which is good.

COMPARE WITH A TRUSTED BROKER

Fortrade

Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide.. visit their official website

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