24 Trade

24 Trade LTD holds a low WikiFX score of 1.52, reflecting significant regulatory concerns. The broker operates without any recognized authoritative trading license, which places it in a high-risk category. Traders should exercise caution due to the lack of credible oversight.

No, 24 Trade is not regulated by any major financial authority. Its license list shows no valid forex licenses, and the broker is registered in Saint Lucia, a jurisdiction known for minimal regulatory oversight. According to WikiFX assessment, the regulatory index is 0.0.

The minimum deposit required to open a Basic account with 24 Trade is $250. Higher-tier accounts, such as the Standart ($2,500), Silver ($5,000), Gold ($10,000), and Platinum ($25,000), require larger initial deposits.

Yes, 24 Trade supports both MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, which are industry-standard trading platforms widely used by retail traders.

Pros: 24 Trade offers five account tiers with a low entry point of $250 and supports MT4/MT5 platforms. Cons: The broker lacks any valid regulatory license, exposing traders to potential risks. Its WikiFX core score is only 1.52, indicating poor overall reliability. Additionally, user reports have highlighted withdrawal delays and requests for extra fees.

Yes, there is at least one user complaint on WikiFX regarding withdrawal issues. A trader reported that after requesting a withdrawal, the broker demanded an additional fee of R4000 to process the request, and the trader’s inquiries were not responded to. Such reports contribute to the broker’s low score.

24 Trade is not regulated by U.S. authorities such as the SEC or CFTC, and it does not hold a license to operate in the United States. Therefore, it is not available for U.S. residents, and traders should be aware of this restriction.

24 Trade offers five account types: Basic (minimum deposit $250), Standart ($2,500), Silver ($5,000), Gold ($10,000), and Platinum ($25,000). All accounts allow hedging, scalping, and the use of Expert Advisors (EAs). Spreads and leverage details are not publicly disclosed, but the tiered structure caters to traders with different capital levels.

Leverage specifications for 24 Trade are not publicly listed. In general, the absence of clear leverage information can be a red flag, as traders cannot assess the risk level. Given the broker’s lack of regulation, any leverage offered may carry elevated risk. Traders are advised to contact the broker directly for clarification.

User reviews for 24 Trade are limited but include a negative exposure report on WikiFX. A trader complained about withdrawal delays and additional fee demands, which aligns with the broker’s low overall score of 1.52. The lack of positive feedback and regulatory oversight further diminishes confidence in the broker.

To determine whether a broker is regulated, the key is to verify whether it holds a valid financial license. Investors can check the license number and status through the official websites of regulatory authorities (such as Financial Conduct Authority, Australian Securities and Investments Commission) to confirm whether the license is real and under valid supervision. It should be noted that some brokers may engage in license cloning or unauthorized operations, meaning they use another company's license or provide services in regions where they are not authorized. These situations also involve risks. In addition, investors can use WikiFX to check the broker's regulatory status, historical records, and risk ratings as supporting reference, so as to evaluate its compliance more comprehensively.

WikiFX is a third-party platform that provides forex broker information inquiry and risk alerts. This type of platform mainly integrates brokers' regulatory information, user feedback, and historical records, and conducts comprehensive evaluation through a multi-dimensional model to help investors quickly understand the broker's basic situation and potential risks. By using such tools, investors can conduct preliminary screening before choosing a broker, thereby reducing decision-making risks caused by information asymmetry.

Common forex regulatory authorities include the Financial Conduct Authority (FCA) in the United Kingdom, the Australian Securities and Investments Commission (ASIC), the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) in the United States, the Cyprus Securities and Exchange Commission (CySEC), and the Monetary Authority of Singapore (MAS). These regulatory authorities usually maintain relatively high regulatory standards, and brokers regulated by them generally have higher compliance levels. You can check broker ranking lists under different regulators on the WikiFX platform, such as brokers regulated by FCA, ASIC, and CySEC, so as to compare brokers under different regulatory backgrounds more clearly and make safer choices.

If a broker holds multiple regulatory licenses, it usually means that it operates in multiple countries or regions and needs to comply with the requirements of different regulatory authorities. Its overall credibility is generally higher. However, it should be noted that regulatory strength differs between licenses. Some offshore regulations have weaker restrictions, so safety should not be judged only by the number of licenses. It is recommended to focus on whether the broker holds licenses from major regulators such as FCA or ASIC, and evaluate its regulatory status, historical records, and overall rating together. You can also check all regulatory information and performance under different regulators on the WikiFX platform to more comprehensively assess its actual risk level.

WikiFX ratings are calculated based on a multi-dimensional data model, mainly including five dimensions: regulatory index, license index, business index, risk control index, and software index. The rating adopts a range system (0-10 points). The higher the score, the higher the broker's overall performance level. In addition, ratings are dynamically updated according to regulatory changes, complaint handling results, and historical data performance, making the rating more objective and timely. You can check the scores of each dimension and their trends on the WikiFX platform to evaluate the broker's actual situation more comprehensively.