FX24

FX24 holds no valid forex trading license from any major financial authority, resulting in a low WikiFX score of 1.54. The absence of regulatory oversight means there is significant uncertainty regarding fund safety and dispute resolution. According to WikiFX assessment, the broker presents a high-risk profile.

FX24 is not regulated by any recognized financial regulator. Its license list shows no valid forex licenses, and the regulatory index is 0.0. Traders should note the complete lack of external financial supervision.

The minimum deposit for FX24 is €200, which is required for the base account. The gold account requires €5,000, and the premium account requires €25,000.

FX24 does not publicly list its supported trading platforms. However, the account conditions allow for Expert Advisors, scalping, and hedging, which are commonly available on platforms like MetaTrader 4 and 5. Traders are advised to confirm directly with the broker.

Pro: Offers a low minimum deposit of €200 and supports scalping, hedging, and Expert Advisors across all account types. Cons: No valid regulatory license, exposing traders to significant risk. The WikiFX score is a low 1.54, reflecting the absence of oversight. Additionally, the lack of a regulated status means no independent dispute resolution mechanism.

According to WikiFX data, there are currently no user complaints or negative exposure recorded against FX24.

FX24 is not regulated by US authorities such as the SEC or CFTC, and it is registered in the United Arab Emirates. Given the lack of US regulatory compliance, it is unlikely to offer services to US residents. Traders should verify availability directly with the broker and consider jurisdictional restrictions.

FX24's spreads vary by account type: the base account has a spread of 2 pips, the gold account 3 pips, and the premium account 1.3 pips. No commission fees are explicitly disclosed. The premium account offers relatively competitive spreads, while the gold account's 3 pips is on the higher side. Traders should also consider potential swap fees or inactivity charges, which are not specified.

FX24 offers three account types: Base (minimum deposit €200, leverage up to 1:300, spread 2 pips), Gold (minimum deposit €5,000, leverage 1:50, spread 3 pips), and Premium (minimum deposit €25,000, leverage 1:100, spread 1.3 pips). All accounts support scalping, hedging, and Expert Advisors. The premium account has the lowest spread but highest entry barrier.

FX24 provides maximum leverage of 1:300 on the base account, 1:50 on the gold account, and 1:100 on the premium account. The 1:300 leverage on the base account is considered high and can amplify both profits and losses. Given the broker's unregulated status, the risk is elevated as there is no regulatory oversight to ensure fair trading conditions or fund protection.

A cloned broker website refers to a fraudulent website that imitates the information of a legitimate broker. Such websites usually copy the real company's brand name, page design, and even regulatory information to mislead investors into making deposits. Common features include: a domain name highly similar to the official website (such as slight spelling differences), abnormal or unverifiable contact information, and promises of unusually high returns. Once funds enter such platforms, they are usually difficult to recover. Investors can identify potential risks by checking the official domain name, verifying regulatory information, and using WikiFX for cross-verification.

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.

Recovering funds after investment fraud can be difficult, but taking timely action may still help recover part of the losses. It is recommended to take the following actions immediately: keep trading records, chat records, and other evidence; contact the bank to try to stop or freeze the payment; report the case to local law enforcement agencies. In addition, investors can also use WikiFX complaint and exposure channels to increase the visibility of problematic platforms and improve the efficiency of rights protection.

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.

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.