Over the last couple of years, the foreign exchange industry has been growing rapidly, with many new brokers entering the forex market. A small number of them are scams that will only try to make you deposit your funds into their accounts, without giving you anything in return. Luckily, those companies that are honest and take care of their clients by providing them with a safe and dynamic trading environment are an overwhelming majority in this business. 24FX is definitely one of them, as they have a very intuitive trading platform that offers you a lot of things, including two versions of the trading software. Furthermore, they have a wide variety of deposit and withdrawal methods, plus they are regulated by CySEC. Is 24FX a scam? Check out the results of our tests for yourself!
Is 24FX A Scam? | Login
We will start our “Is 24FX a Scam?” analysis by explaining the login process. That’s the first process you have to complete in order to start trading. The login procedure is very simple, takes only a couple of seconds and requires no special skills. All you have to do is enter some of your personal data (such as your name, date of birth etc.), choose the currency you would like to use when trading and that’s about it. As for the safety of your private information, there’s nothing to worry about: 24FX won’t share or abuse any of your information, which also makes them safe and legit. Should any problems occur, there are many 24FX Contact methods you can use to get some assistance from the broker’s support crew.
The next thing you will have to do is deposit the funds into your account, and that’s going to be the next topic of our article. Keep reading!
Is 24FX a Scam? | Deposit and Withdrawal
With 24FX, the deposit procedure is very fast, simple and completely secure. There are several methods you can use to deposit funds to your trading account: credit cards, wire and bank transfers are the most usual ones, but there are also some alternative payment methods, such as Neteller and Skrill. You can also use four currencies to deposit your funds: EUR, USD, JPY, and GPB. The minimum deposit you can make if you want to trade with 24FX is 250 USD/EUR/GPB or 25 000 JPY.
Withdrawals will take more time than the deposits, but they also are very safe and simple. First, you will have to log in to your account, fill out the withdrawal form and send it to 24FX via fax or email. Your withdrawal request will be executed within a maximum of 7 business days. Keep in mind that the funds will be transferred by the same method that you used to make your original deposit. We tested all these methods ourselves and found absolutely no problems with them- everything works perfectly. When it comes to the amount of money one would like to withdraw, there is no minimum requirement, but make sure you fulfill 24FX Bonus conditions if you want to withdraw that too. In other words, you can withdraw any amount you want. Also, if you would like to cancel a withdrawal request, that’s also an option: you can do it at any moment prior to the actual transfer of funds. Your money will be returned to your trading account and will be immediately available for further investment. In the next part of our “Is 24FX a Scam?” analysis, you can find out something about the broker’s account types, so stay with us!
Is 24FX a Scam? | Trading Platform
As we have already said at the beginning of this article, this broker’s trading platform is very intuitive and easy to use. Hardly a surprise, because it is based on MetaTrader 4, the most famous trading software in the world today. With it, you will get loads of very effective trading tools and you will be able to quickly conduct your analyses. 24FX Trading Platform works extremely well at all times, so you will always have access to the latest prices without exception. There are no glitches or bugs of any kind, only smooth trading.
You can also easily use the broker’s mobile trading platform if you prefer trading on your mobile devices, and if you don’t want to download the platform to your computer, you can always use Webtrader instead. Whatever you decide, your trading experience will always stay on the same high level of excellence you’d expect from MetaTrader 4. Therefore, if you were ever wondering is 24FX a scam, the broker’s trading platform should put your mind at ease. This is online trading at its very finest.
Is 24FX a Scam | Regulation
As we have already highlighted in the first paragraph of our article, 24FX is a broker regulated by CySEC – the financial regulatory agency of Cyprus, meaning they can do business in any of the European Union member-states. Furthermore, the traders’ funds are held in the accounts that are separated from those used by the company, which only increases the level of broker’s safety. Also, we would like to emphasize once more that we have tested all types of monetary transactions offered here and we had no problems at all. Considering all of that, asking is 24FX a scam really seems unnecessary. However, if you want to learn more about this company and what it has to offer, read our 24FX Review 2016.
Is 24FX a Scam | Conclusion
At the end of our “Is 24FX a scam?” article, we can only emphasize one more time how satisfied we are with this broker. They are completely reliable, safe and they really do take care of their clients. Every procedure that has to be done is simple: you can deposit your funds very quickly and you can use a lot of different methods to do so, and the same is with the withdrawal part. All in all, we can say that this is really one great broker. You don’t have to worry about is 24FX a scam anymore – open an account with them and trade without any worries.