24tradex Forex Broker

Note: 24tradex's official website: https://www.24tradex.com/ is currently inaccessible normal.24tradexReview SummaryFounded2023Registered Country/RegionUnited StatesRegulationUnregulatedMarket InstrumentsForex, CFDsDemo Account/LeverageUp to 1:400EUR/USD SpreadFrom 0.6 pipsTrading PlatformMT4Min Deposit$1,000Customer SupportPhone: +44 2037 638 900Email: upport@24tradex.com 24tradex, based in the United States, is an online brokerage offering trading opportunities in Forex. 24tradex offers the world-leading trading platform-MT4 and leverage up to 1:400. However, the minimum deposit requirement to open a live account is as high as $1,000. What's worse, it is currently operating without regulation and its official website is unfunctional.Pros & ConsProsConsTight EUR/USD spreadLack of regulationMT4 supportedLimited tradable asset classesUnfunctional websiteHigh minimum depositHigh withdrawal feesIs 24tradex Legit? Currently, 24tradex operates without valid regulation. This lack of regulatory oversight causes trading condition risks for investors.What Can I Trade on 24tradex? Since there is very limited information about 24tradex, as far as we know, 24tradex mainly offers forex and CFDs trading.Trading AssetAvailableforex✔CFDs✔Bonds❌Options❌ETFs❌Account TypeAccount TypeMinimum DepositVIP$100,000Platinum$25,000Cold$10,000Classic$1,000Leverage 24tradex offers a maximum leverage of 1:400 to its traders, allowing them to amplify their trading positions by up to 400 times their initial investment. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.Spread and Commission 24tradex offers competitive spreads (the difference between the bid and ask price of a currency pair) starting from 0.6 pips. Regarding commissions (additional fees charged by brokers for executing trades on behalf of their clients), the information is not readily available due to the inaccessible website.Trading PlatformTrading PlatformSupported Available Devices Suitable for MT4✔Desktop, Mobile, WebBeginnersMT5❌Desktop, Mobile, WebExperienced tradersDeposit and Withdrawal 24tradex offers credit cards, bank wire transfers, and Skrill. The absence of a minimum withdrawal amount for bank cards and Skrill provides flexibility for clients to withdraw funds as needed, while the $100 minimum for wire transfers is relatively standard among many financial institutions. However, the fees associated with withdrawals are a concern. A 3.5% fee for bank card withdrawals and a flat $30 fee for wire transfers can significantly eat into a trader's profits, especially for smaller transactions. These fees are higher than industry averages and could be considered a red flag for potential clients.