24yield.com – What is it about?
More brokerage companies are tending to develop their own online trading platforms. Thus, they can add new features and respond quickly to the changing wishes of users. The website 24yield.com has also adopted this trend and created an extremely easy-to-use terminal, which is the result of the fruitful work of the software team. 24yield is a registered trademark of Ever Financial AD, a regulated European brokerage offering online trading of over 1,000 assets to clients in over 140 countries. CFDs on forex, indices, commodities and shares are available through a proprietary, client-oriented platform. You can start trading by investing USD 500.
Is it authorized and regulated?
Basically, the most important thing to do before venturing into online trading is to check if the brokerage is licensed or not. The company behind 24yield.com is Ever Financial AD. It provides its services under the Markets in Financial Instruments Directive II (MiFID II) and is EU licensed (BFSC is the licensor). This license enables Ever Financial AD to provide investment services throughout the European Union on a cross-border basis. The European license obliges the brokerage to keep clients’ money safe and separate from its own funds. In addition, Ever Financial AD is a member of the Investor Compensation Fund (ICF), and its clients receive compensation in the unlikely event of bankruptcy. In addition, 24yield.com is operated by Ever Financial (Global) Ltd which is regulated in Mauritius and Global Clearing House Ltd, regulated in Oceania.
Account Types
24yield.com offers three types of real accounts. A table is provided on the page where you can see and compare their properties.
Explorer – This is the account with the least initial funds required. You need USD 500 to open it. Don’t expect very tight spreads, as for the most traded EUR/USD pair, it starts at 2.1 pips. Let’s note that account selection does not limit the available trading instruments.
Pioneer – This account offers better trading conditions, but the minimum initial deposit jumps to USD 10,000. If you invest such an amount, you will be offered spreads of 1.5 pips on the EUR/USD pair and will receive educational materials giving the basic rules of trading.
Master – As its name suggests, the trading conditions here are the most favorable. However, to get them, you need to deposit at least USD 25,000. In return, spreads for the EUR/USD pair will start from 0.9 pips and you will receive daily technical and fundamental analysis.
What We Found in the Legal Section
The legal section is usually long and difficult to read, so reading it is often skipped. We have reviewed it for you and will reveal the highlights here. The Order Execution Policy document mentions a slippage clause. When using market execution mode, which is the default mode, and the price has changed during the order execution, it will be filled at the next available market price. Another important thing we found is that stop loss orders are not subject to slippage. They always will be executed at the requested price at no additional cost – 24yield.com covers the difference due to the slippage. This means that stop-loss orders are guaranteed, at no extra cost. Let’s note that few brokerages offer this extra for free.
Another very important thing mentioned in the document is that you will never lose more than you have in your account. The companies operate with a negative balance protection policy and if your balance becomes negative due to market movements, it will be reduced to zero.
Are there any other Fees?
Typically, brokerage firms derive their main profit from the fees they collect. These include spreads, swaps, and rollovers. There is also an inactivity fee. If there is no activity on your account – you do not open new positions or make a deposit within 30 days, the company may charge an inactivity fee of 1% per day (not less than EUR 10) of your account balance.
How Can You Deposit and Withdraw?
Funds can be deposited into the account in two ways – by bank transfer and by credit or debit cards. The amount you need to invest initially depends on the type of account you have opened. The size of each subsequent deposit depends only on you. Note that you cover any fees charged by banks or payment providers.
Withdrawal transactions are only made to the same account that was used to deposit money. Again, note that withdrawal fees are also covered by you. The company claims that withdrawal requests are processed within one business day.
What is the Platform and Who Is It for?
As mentioned at the beginning, the platform is proprietary, developed by the 24yield.com software team, with input from customers’ ideas and suggestions. The PC version is web-based and requires no software installation. Nevertheless, it provides all the necessary functions for a simplified and successful trade. Of course, there is also a mobile version that can be downloaded from the AppStore and Google Play. The terminal is simple and easy to use. There are over 1,000 assets that can be traded through it, no matter what account you have opened. Some more sophisticated features available in MetaTrader, for example, are not presented here, but beginners and intermediate traders will be satisfied while using the platform.
What Assets can you Trade?
As we mentioned several times, over 1,000 assets are available for trading. We should note that the choice of trading company will determine how much funds will be blocked when opening a position, as a necessary margin. If you choose GCH, the leverage for the majors will be 1:100. Remember that higher leverage can lead to higher profit, but also increases the risks of loss. Ever Financial AD is an EU-regulated company and the instruments offered have characteristics according to ESMA requirements. Thus, the leverage for the major currency pairs is 1:30.
Forex – Over 250 currency pairs can be traded, including minors and exotics. As we noted, spreads depend on the account type and the lowest value you can get for majors is 0.9 pips (Platinum account).
Commodities – Over 50 commodities are available for trade. These include Gold and other precious metals, Brent, Crude Oil, food, and agricultural products. The spread for Gold is USD 0.7 and that for Crude Oil starts at USD 0.098 (Platinum account).
Indices – CFDs on more than 40 indices are available for trading. They include the most traded – DAX (Germany 40), FTSE 100 (UK 100), DJIA (US 30), Euro Stoxx 50, etc. The minimum spread you can get for the DAX 40 instrument is 4.4 points and for the DJIA it is 10.5 points.
Shares – More than 400 CFDs on shares of global companies are available for trading.
News
The platform offers a news feed of important financial and corporate news and analysis published by Trading Central. Thus, the important news that affects the price of the instruments is available directly from the terminal or the mobile application. They will be especially useful if your trading strategy is based on fundamental analysis.
Conclusion
The 24yield.com website is operated by Ever Financial AD, which is an EU regulated brokerage firm licensed by the BFSC and thus provides investment services in countries throughout the European Union. 24yield.com guarantees that stop loss orders will be executed at the set price under any conditions without paying extra for it. Your confidence can be boosted knowing that you cannot lose more than you have invested. You have the choice to trade a wide range of instruments through our own web-based platform as well as through a mobile application. There are 3 different types of accounts that differ in the minimum deposit required and the spreads offered. You can open a live account by investing at least USD 500.
