Introduction to Forex24

Forex24 is an online trading brand operated by Lydya Financial Ltd (CIF) based in Cyprus. The broker claims regulation under CySEC with CIF License number 300/16. Forex24 offers Contracts for Difference (CFDs) over various asset classes including forex, equities, indices, precious metals and commodities. It aims to serve European and international clients by offering a flexible, transparent trading environment.

Platforms & Features

Forex24 supports MetaTrader 4 (MT4) and WebTrader across desktop, web and mobile. It offers over 65 forex pairs and over 80 CFD instruments on stocks, indices, metals and commodities. The platform supports Expert Advisors / automated trading and permits scalping. Users can allocate capital across strategies. Deposit and withdrawal methods include bank transfer, Visa/MasterCard, and e-wallets such as Skrill.

Strengths of Forex24

Some of the key advantages reported by users and reviews:

Generally fast execution speed and relatively smooth deposit/withdrawal experiences.

Support for scalping and automated strategies (EAs) suits many trading styles.

Wide product offering beyond forex to CFDs on stocks, metals, commodities for portfolio diversification.

The claim of regulatory oversight (CySEC) and European registration can boost trust if validated.

Weaknesses & Risks of Forex24

Despite those strengths, there are several red flags and drawbacks:

Some reviews and broker-watch sites warn that Forex24 Market (a matching name) was placed on the FCA warning list, suggesting unlicensed activity in certain jurisdictions.

Suspicions exist that some regulatory claims might not hold up under scrutiny when checked with official regulators.

The site performance has been criticized: slow loading pages, unstable access in certain regions.

Trading conditions (spreads, commissions, hidden fees) may lack full clarity, and costs may be higher for certain account types.

The broker’s service scope may vary by country; residents of some jurisdictions may not be supported.

Marketing methods, including aggressive outreach and promises, may mislead inexperienced traders.