Forex24 Review

Forex24 Logo

Since 2014, Forex24 has continued to provide traders all over the world with access to trade several financial instruments, including forex, metals, indices, commodities, energies, and CFDs. The online trading broker operates from Cyprus and provides traders with the MetaTrader 4 trading platform, some useful trading tools, and a collection of learning materials, whilst a client support team is available to assist traders. There are multiple trading account types to choose from, and the minimum deposit required to operate an account is just $1. A commission fee of $7 is charged on trades, while leverage of up to 1:400 is available.

Forex24 Review Introduction

In this Forex24 review, we will take a look at some of the most important factors worth considering when choosing a forex broker for your online trading needs. This includes trading platforms, trading tools, research and education, account funding options, customer support, and broker regulation.

You may also wish to view my best forex brokers based on countless hours that I have spent researching and testing hundreds of brokers, all of which you can see in my forex broker reviews. You can also use my free trading tool to compare forex brokers including Forex24.

Forex24 Platforms & Tools

Traders are allowed to trade the offered assets using the MT4 trading platform, which is a popular trading platform amongst forex and CFD traders. The platform is built with a wide range of trading tools, such as technical analysis indicators, charting tools, and trade management tools, whilst being equipped with advanced capabilities, including support for automated trading using expert advisors and one-click trading.

Forex24 Review Trading Platform
Forex24 Review Trading Platform

Forex24 provides the MT4 trading platform as a desktop application for Windows and Mac computers; WebTrader that can run directly on most modern web browsers, such as Chrome, Safari, Firefox, and Edge; and a mobile app that is developed for Android and iOS devices. The mobile app can be downloaded from the relevant app stores and used to easily place trades and manage trading positions from anywhere.

Forex24 Review Economic Calendar
Forex24 Review Economic Calendar

Traders are also provided with an economic calendar, which shows scheduled market events and their expected impacts on the financial market.

Forex24 Research & Education

The broker’s website contains a selection of educational resources to enhance clients’ trading knowledge and keep them in the know on the events happening in the markets. Some of those resources include news, announcements, an FAQ section, and a glossary of trading terms.

Forex24 Trading Accounts

Traders can choose the account type that best suits their individual trading needs from a choice of different trading account types. The accounts require a minimum deposit of just $1 and are denominated in EUR, USD, and GBP. They include Mini, Bronze, Classic, Silver, and Pro Gold Accounts.

Forex24 Account Funding

The broker accepts the following payment methods for both account deposits and withdrawals:

  • Credit/Debit cards
  • Bank wire transfer
  • E-Wallets, including Neteller and Skrill.

Some payment methods may not be available in certain countries, while the transaction processing time may vary with the payment method used.

Forex24 Customer Service

The broker’s clients can contact the customer support team through email, telephone, social media, or by filling the form on the broker’s website.

Forex24 Regulation

Forex24 is a brand owned and operated by Lydya Financial Limited, a Cyprus Investment Firm (CIF) regulated and supervised by the Cyprus Securities and Exchange Commission (CySEC) with CIF license number, 300/16, and company registration number, HE334292.

Forex24 Review Summary

Forex24 is a regulated brokerage firm that is based in Cyprus, offering access to trade multiple financial instruments via the MT4 trading platform. The broker provides several trading and learning materials and has a client support team that assists traders. There are multiple trading account options as well as payment methods.

It is worth mentioning that some of the trading products and services in this Forex24 review may differ or not be available to traders in some countries due to regulations. As brokers’ terms can change over time, please verify all information is up to date directly from the Forex24 broker website which you can visit by using the link below.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A large percentage of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Forex24

7

Spreads

6.5/10

Liquidity

6.5/10

Commissions

7.0/10

Support

7.0/10

Regulation

8.0/10

Features

  • Multiple trading assets
  • The MT4 trading platform
  • An economic calendar
  • Some educational resources