24tradex Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-11-14 11:46

Abstract：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.

　　Note: 24tradex's official website: https://www.24tradex.com/ is currently inaccessible normal.

24tradexReview Summary
Founded	2023
Registered Country/Region	United States
Regulation	Unregulated
Market Instruments	Forex, CFDs
Demo Account	/
Leverage	Up to 1:400
EUR/USD Spread	From 0.6 pips
Trading Platform	MT4
Min Deposit	$1,000
Customer Support	Phone: +44 2037 638 900
Customer Support	Email: 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 & Cons

Pros	Cons
Tight EUR/USD spread	Lack of regulation
MT4 supported	Limited tradable asset classes
	Unfunctional website
	High minimum deposit
	High withdrawal fees

Is 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 Asset	Available
forex	✔
CFDs	✔
Bonds	❌
Options	❌
ETFs	❌

Account Type

Account Type	Minimum Deposit
VIP	$100,000
Platinum	$25,000
Cold	$10,000
Classic	$1,000

Leverage

　　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 Platform

Trading Platform	Supported	Available Devices	Suitable for
MT4	✔	Desktop, Mobile, Web	Beginners
MT5	❌	Desktop, Mobile, Web	Experienced traders

Deposit 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.