Dec 31, 2006
Trade24 is a broker based out of London with offices also in Zurich and Paris, currently serves over 300, 000 traders worldwide. This award winning broker offers leading security to its traders along with...
Trade24 is a broker based out of London with offices also in Zurich and Paris, currently serves over 300, 000 traders worldwide. This award winning broker offers leading security to its traders along with a wide range of forex trading products and services. Trade24 offers currency, stocks, indices and CFD trading across some of the most well loved trading platforms
Arabic, English, Russian
Bank wire, Credit card (VISA/Mastercard), Skrill, Neteller, QIWI
QIWI, Neteller, Skrill, Credit card (VISA/Mastercard), Bank wire
Trade24 is a Forex broker website that belongs to Trade 24 Global Ltd. The company has been working from Switzerland since 2007; but it later expanded its premises, establishing offices in London and Paris. The brokerage agency offers 5 commission-free, fixed-spread accounts and an ECN account with variable spreads that does involve commissions.
• Reliability: Trade24’s history is a somewhat difficult to follow. In 2016, the company claimed that it was registered in Marshall Islands, but it was changed to Belize nearly after, uploading an International Financial Services Commission of Belize’s license. However, the IFSC publicly warned later about the forgery of the license, leading to the removal of the license number from the site. In addition, the Financial Markets Authority (FMA) of New Zealand included Trade24 in their list of “businesses to be wary of,” considering its license inappropriate to provide said services within the country. Likewise, the Autorité des Marches Financiers (AMF, Authority of Financial Markets) issued a public warning about the forex company and also added it to their list.
• Conditions: Trade24 Forex requests a $500 initial deposit. The amount is considerably high, since they lack regulations. Other forex broker companies competing in the same position usually require around $100 to start trading.
Regarding to the fixed spreads, the company ranges from 2.8 to 0.8 pips without commission fees. Although the tightness of 0.8 may sound attractive at first, the beauty starts to fade when the investor finds out that a $50,000 first investment is needed for such deal, especially taking into account the agency’s limitations. The ECN needs the same amount of investment and involves a $15 commission per lot.
The company offers a leverage ratio of 1:200, which is quite average. There are many offshore competitors in the market offering higher levels of leverage, although using a high leverage might be risky, especially without back-up.
• Platforms: Trade24 lets their customers choose from a selection of platforms they have to offer. The first one, and maybe the preferred one, is MT4. Its trading automation options are very important for its users and their technical analysis indicators and charting package makes it easier to get to conclusions. The agency also offers WebTrade24, a customized version of Web Trader - a social trading platform that lets its users follow other experienced trader’s transactions and copy them for better results, this tool is especially appreciated by newcomers.
• The company provides a range of platforms to choose from.
• There are several trading account options.
• The agency accepts diverse payment methods.
• The company is not regulated by any authority or law.
• The agency has entered the warning list of two authorities in completely different countries.
• High spreads for account holders of less than $20,000.
Although Trade24 offers some attractive trading conditions, the fact that this company has received two warnings and there are still no regulations to mandate their work, makes it very difficult to trust money to this broker agency. All of the mentioned aspects lead to suspect that the company would possibly commit illegal actions of any sort and at any moment.