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Sanjay sirohi
Within 1 year

Does 24Five have any cons?

Broker Issues
24Five
Regulation
05-29
United States
WikiFX
Reply

Yes, 24Five has several cons. The biggest concern for me is that it is unregulated. Trading with an unregulated broker means I am at risk of having no recourse if the broker faces issues or engages in fraudulent behavior. Additionally, there is a lack of information regarding trading details, such as commissions and swap fees. This lack of transparency makes it difficult for me to fully understand the cost of trading with 24Five. The absence of MT4/MT5 support is another downside for me, as these platforms are highly regarded for their advanced features, such as automated trading via Expert Advisors (EAs). Without these platforms, I feel restricted in terms of trading tools and analysis. The limited payment methods are also a disadvantage, especially since more options would make the deposit and withdrawal process more convenient.

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