24CM Review

Lets First Go To The Bottom Line:
With 24CM you can enjoy a seamless experience with superior trading conditions. Their multi-asset platforms will allow you to broaden your investments across various markets.

The best part?

They are regulated and this will give you peace of mind that you’re with a transparent and fair brokerage firm.

There’s no question that they are a good and recommended choice for trading forex and CFDs.

Final Score: 93/100
Read Full Review…

24CM Overview

Founded 2018
Platform MT4, Webtrader
Minimum account size $250
Minimum lot size 0.01
Tradable assets 200+
Maximum margin 1:50
Spread on EUR/USD 0.0001 pips
Payment methods Credit Card, Wire Transfer, Skrill Electronic Payment
Demo account Yes
Accepts US traders No
Regulated IFSC (Belize), CySEC (Cyprus)
Support Email, Phone, Live Chat
Website www.24cm.com

 

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Pros

  • Wide variety of tradable instruments
  • Regulated by the IFSC and CySEC
  • Free demo account
  • 24/7 support

Cons

  • US traders not accepted
  • No app for iOS

24CM (short for 24 Capital Markets) is a well-known and established brand has entered the competitive world of FX trading. So how do they compare to other forex brokerages? Continue reading this unbiased review to know the answer.

Platform

You have the choice of trading via the downloadable MetaTrader4 (MT4) platform or the WebTrader which can be accessed directly from any web browser.

That’s not all…

Alternatively, you can use the mobile app for Android although we’d highly recommend that you use the desktop platforms. The only downside is that they do not offer apps for iOS devices.

For this category, 24CM was able to get a Platform score of 10/10.

Design

This broker is absolutely top-shelf when it comes to user-friendliness even for novices. It has everything that you need and they can all be accessed from the main menu.

Why does this matter?

It matters a lot because you will be able to navigate through the menus and execute your trades without the need to switch to various pages.

It is for that reason why we gave them a Design score of 5/5.

24CM WebTrader platform

Risk Warning: CFDs trading involves substantial risk and may result in the loss of your entire trading balance. CFDs are not appropriate for all retail traders.

Minimum Deposit

After opening an account, you need to deposit a minimum of $250 in order to do live trading. While this may not be the lowest in this industry, it’s definitely not the highest either so it’s more on the average side.

Look…

If you consider trading for a long-term basis then the minimum deposit is not a major factor to consider since you’re most likely to make a secondary deposit anyway.

So what’s the rating for this category? A minimum deposit score of 3/5.

Minimum Lot Size

Most brokerages including 24CM allow orders with micro lots which could go for as low as 0.01.

Such size will give you the opportunity to trade with lower risks.

Since they follow the industry standard, they notched a Minimum Trade Score of 4/5.

Tradable Underlying Assets

For this category, the more assets the broker has, the better and the good news is that 24CM’s platforms will give you access to more than 200 financial instruments.

That’s not all…

Most of their assets are among the hottest in the market right now including indices, stocks, major currency pairs like the EUR/USD and USD/JPY and commodities like gold and oil.

With so many options, you can broaden your investments across various markets and this can give you plenty of opportunities.

It is for this reason why they deserve a Tradable underlying assets score of 4/5.

24CM assets

Risk Warning: CFDs trading involves substantial risk and may result in the loss of your entire trading balance. CFDs are not appropriate for all retail traders.

 

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Payouts

Tight spreads help reduce the overall cost of trading and with this broker, the numbers are highly competitive and kept low.

Bottom line?

That means you need to pay less to enter a trade and this saves you money over time.

Such ultra-low numbers warrant a Payouts score of 10/10.

Withdrawal Time

When withdrawing, the deposit amount can be withdrawn back to deposit method while the profits will be sent either as a wire transfer for medium to big amounts or to an e-wallet for small amounts.

Here’s the deal…

Make sure that your account is completely verified in order to enjoy the expedited processing of withdrawals which can take place on the same day or the next working day.

Generally, this processing time is much faster the the industry standards which is why we are giving them a Withdrawal Time score of 10/10.

Deposit and Withdrawal Methods

You can deposit the funds to your account via these supported methods:

  • Credit Card
  • Wire Transfer
  • Various e-wallets

In general, these are the most common and trusted banking methods and this will give you a lot of convenience in transferring money to and from your account.

Overall, we’re granting them a perfect Deposit and Withdrawal Methods score of 5/5.

24CM deposit page

Risk Warning: CFDs trading involves substantial risk and may result in the loss of your entire trading balance. CFDs are not appropriate for all retail traders.

Customer Support

We can’t emphasize enough…

Customer service is among the key factors that you need to consider before you sign-up with any broker. If they are not good in providing support for their clients then it would be wise to consider another broker instead.

What’s the real story?

24CM’s support team has a phone, email and live chat support and the good news is that they can be contacted 24 hours a day, 7 days a week.

That means you can get in touch with them any time that you need help or assistance with your account and anything related to their service.

Our actual tests have proven that they do indeed provide fast and prompt support in all channels. Our phone calls with their agents were very quick while the live chat and email support provided very detailed answers to our questions.

We’re very impressed with the excellent customer service which is why we’re giving them a Support score of 14/15.

24CM customer support

Risk Warning: Trading forex and/or CFDs involves significant risk of loss. CFDs are leveraged products and it is possible to lose more than your initial investment.

Quote Accuracy

Without regulation, there’s no way for you to be sure that the platform you’re using is providing you with accurate market pricing.

The good news is that this brokerage is a regulated one which means that their platforms are providing real-time market data.

We’ve also done some tests to match the prices that were shown on their platform from real-time prices that were provided by third party quote providers and the results proved that they were accurate.

This deserves a Quote Accuracy Score of 10/10.

Reputation

24cm started its operations in 2018 complete with active licenses from the Cyprus Securities and Exchange Commission (for F1Markets Limited [www.24cm.com/eu)]) and the International Financial Services Commission of Belize (for IOS Investments Limited [www.24cm.com/international]).

They may be considered as a new entrant in this industry but the latest reviews and comments that we found has proven that they are well-received by traders.

This is also a good indication that they are off to a good start and they do mean business.

This warrants a Reputation score of 18/20.

Conclusion

With 24CM you can enjoy a seamless experience with superior trading conditions. Their multi-asset platforms will allow you to broaden your investments across various markets.

The best part?

They are regulated and this will give you peace of mind that you’re with a transparent and fair brokerage firm.

There’s no question that they are a good and recommended choice for trading forex and CFDs.

Final Score: 93/100

 
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Risk Warning: CFDs trading involves substantial risk and may result in the loss of your entire trading balance. CFDs are not appropriate for all retail traders.

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