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Trade24, founded in 2009, is a Forex and CFD broker. Trade 24 Investment Ltd. is a Company that was incorporated in the Republic of Seychelles in and its main headquartered is in London, UK. There are also offices in Paris and Switzerland. At the time of this review, there was no regulation.
Trade24 is the recipient of several awards including Best Forex Broker, Best Customer Service, Best Dealing Room and Best Trading Software.
Trade24 offers a choice of three different accounts. The Mini account requires a minimum deposit of $500, $10,000 will open a Gold account and anyone with $25,000 can open a Platinum account.
There are no commissions on any of the three accounts and spreads vary according to the currency traded. Traders with any of these accounts can trade all majors and minors currency pairs, metals, energies, agricultures and indices and can use any of the following platforms to place their trades: MT4, WebTrader, Mobile and Tablets, and the Social Trading Platform.
In addition to the above, there is an ECN account which has the same features, requires $500 to start but has no limit on the amount of the original deposit.
The fee paid to the company is made in the spread, i.e. the difference between the buy and sell rates, except for ECN accounts where the fee is $15 per lot.
A demo account is offered but there are no details about it on the site.
Besides Forex and CFDs, Trade24 offers traders commodities, currencies and stocks. In addition, they can trade all types of Forward Contracts including Closed Forwards, Open Forwards, and Non-Deliverable Forwards, all through their simple-to-use Trade24 platform.
Trade24’s advanced systems display currency rates in real time and enables traders to execute trades in any given moment.
On Trade24’s trading system traders can define take profit and stop loss orders to limit their risks of losing and even cap their profit in case there is a chance that the trend might change and they are not in front of their screen.
Trade24 offers a host of items at their Forex Academy. There are articles on basic and advanced trading concepts, fundamental, technical analysis and trading tips as well as tutorial videos on various other topics such as trading strategies and trading tools.
A 78-page ebook is available to all visitors to the Trade24 site and articles on Japanese candles and the Ichimoku Cloud offer useful incites for advanced traders. A full alphabetical glossary is available as is a listing of the Forex commissions charged by the broker.
Market news is presented daily and weekly and offers good insight into what is happening in the financial markets and the up-to-date economic calendar is clear and informative.
There is also a brief FAQ question and answer section.
Deposits to open accounts can be made using credit and debit cards, bank wires, CashU, Neteller and Skrill.
Withdrawals are implemented by filling out an online withdrawal form. Funds are returned to their original account and usually take 5 days.
Anyone opening an account on the day I did review received a 30% bonus directly into his or her account as well as 1.5% interest every month on the initial deposit. It was not clear from the site when these offers were set to expire.
Partnerships in the form of Trade24 Affiliates or Introducing Brokers are also available aside from their mention on the website, the only way to find out more about them is by emailing Trade24.
Customer service is offered 24/7 and telephone contact can be made to more than 15 different offices throughout the world. Email communication is available as well as Chat. The website is available in 16 different languages.
Trade24 is a well-rounded Forex and CFD broker. It offers traders a choice of different trading accounts as well as several different trading platforms. The website is easy to navigate and the images are clear and informative.
Review info: Trade24
Review Date: 2016-08-03
Rating : 1.5
Reviewed By : Sara Patterson (Google+)