General Information & Regulation
24NewsTrade is an offshore broker, owned and operated by a group of companies – Baumont Group LTD, based offshore in St. Vincent and the Grenadines and Baumont Solutions OU, which is incorporated in Estonia. Therefore, 24NewsTrad is yet another unregulated broker, with rather limited credibility, which does not have legal right to target customers on regulated markets like the European Union, the UK, the U.S., Canada or Australia.
Markets Instruments
24NewsTrade says to be offering over 300 trading instruments, including forex pairs and CFDs on indices, commodities and stocks.
Minimum Deposit
With their Basic Account 24NewsTrade wants you to deposit 250 USD and this is more or less what other brokers would also require.
Trade Size
The minimum trade size allowed by 24NewsTrade is 0.01 lot.
Leverage
The maximum trading leverage offered by 24NewsTrade is relatively high, reaching up to 1:1000. Be aware as well that higher leverage is associated with higher risk of losing your fund with the slightest fluctuation of the market, so leverage should be used with caution.
Spreads & Commissions
The spreads in the Standard accounts seem rather wide, with the spread on the EUR/USD pair from 3 pips, almost twice the amount of the industry standards. As most brokers do, more funds deposited into accounts, narrower spreads traders can enjoy.
Trading Platform Available
In terms of trading platform available, 24NewsTrade offers both MetaTrader4 for PC and web and Status Platform, which is web based
Deposit & Withdrawal
24NewsTrade accepts payments with VISA and MasterCard, bank wire, crypto coins and an e-wallet called Paytrio, but not Skrill.
2023-03-20 17:46
2023-03-10 14:05
