By Administrator_India
MT 24×365 is a CFD and forex trading platform that specializes in CFD’s trading, a feature that displays trader behavior within current market conditions. This review will cover the main features of the MT 24×365 platform, including login, key features, regulation, and the withdrawal process. See if MT 24×365 is the right broker and trading platform for you.
MT 24×365 Details
MT 24×365 is owned by HND Ventures Ltd, a Cypriot investment firm founded in 2020. MT 24×365 is a regulated trading platform with SaaS licensing.
Offering a range of products and trading platforms, the brokerage’s thousands of clients span multiple countries. MT 24×365 has also made the news for partnering with new feature.
Trading Platforms
Prospective users can view the online trading platform and MT5 before registering or receiving MT 24×365 login details, but once registered, users will be prompted to login to execute trades.
Online Trading Platform
The MT 24×365 online system allows users to view the unique Live Feed, generated through crowd trading, which displays the percentage of traders that are buying and selling a certain asset to help inform your decisions. The online layout is accessible to beginners and traders can buy or sell in a single click. Website trading also offers an economic calendar, a daily market report, and advanced graphing capacity to provide technical market analysis.
Products
Clients of Market 24365 can choose from over 200 tradeable products, including:
- ETFs – 40+ ETF CFDs
- Forex– 40+ currency pairs
- Commodities– 4 commodities, including precious metals and oil
- Stocks– Hundreds of global companies, including Twitter and Starbucks
- Indices– 7 prime indices are available, including Dow Jones and the Dax 30
To improve its rating in this review, we’d like to see the broker introduce trading in cryptocurrencies, such as Bitcoin.
Spreads & Commission
MT 24×365 spreads are relatively costly compared to larger brokers: EUR/USD has a spread of 3 pips and GBP/USD of 5 pips. This broker also charges a $100 fixed fee for account maintenance every 45 days, in addition to a commission for holding position open overnight. This review was particularly disappointed to see the high account maintenance fee.
Further details of MT 24×365 fees can be found on their website in terms and conditions.
MT 24×365 Leverage
Leveraged trading is available with Market24365. Maximum leverage of 1:30 is available on forex pairs, although the majority are offered at 1:20, with gold at 1:30 and 1:20 on other commodities. The maximum leverage available for stocks and ETFs is 1:5 and for indices, it’s 1:20.
Mobile Apps
A fully-featured MT 24×365 app is available for download on both the Apple App store and Google Play store. The software offers a user-friendly trading experience similar to the online platform, including the live feed for crowd trading, interactive charting of real-time rates, and daily ranges.
Payment Methods
Deposits
You can finance your account using a variety of methods including credit/debit cards, eWallet, and online/local bank transfer. Payments are made directly via the websites’ Payment Page. Deposits using the mobile app are currently only possible via credit card.
The minimum deposit required by MT 24×365 depends on the account:
- Mini– $250
- Standard– $1,000
- Gold– $5,000
- Platinum– $10,000
- Diamond– $50,000
Withdrawals
To submit a withdrawal request, traders must provide photo-ID, credit card details, and proof of residence documentation. MT 24×365 processes withdrawals using the same payment method that was used to place the deposit, up to the value of the initial deposit, and any additional amount is paid via direct bank transfer.
Withdrawal requests are processed within three business days, although the time to receive funds depends on the payment method used.
Demo Account
At MT 24×365, prospective clients can register for a demo account to try out the platform. This account does not require a deposit to be made. Instead, clients receive a virtual bankroll to explore the different trading products available and the broker’s services.
Bonuses
There are currently no promotions or no deposit bonus deal offerings at MT 24×365. Most CySEC-regulated firms are prohibited from offering bonus incentives.
Regulation
MT 24×365 the company is not regulated by the Australian Securities & Investments Commission (ASIC).
Overall, we’re comfortable MT 24×365 is a legit and genuine broker and not a scam. We were also pleased to see that aside from a few exceptions, customers haven’t experienced withdrawal problems.
Additional Features
Opinion Trading is a useful addition that allows clients to see how other clients are trading an asset. The tool provides for an excellent way to judge market sentiment and see how successful traders are reacting to movements in price.
Recently, this broker has also collaborated with Financial Liquid, a tool for investment decision support, which is now available directly within the online platform by clicking on the tool logo.
MT 24×365 Accounts
MT 24×365 offers five account levels: Mini, Standard, Gold, Platinum and Diamond. All accounts allow access to a minimum line ten times that of the minimum deposit amount, bar the ‘Mini’ account which offers a minimum line of 1000 USD. Unfortunately the Mini account does not provide access to MT5, but all accounts offer 24/5 support via live chat on the website. Personal notifications and exclusive video market updates are available to account types from Gold upwards, and an Islamic account is available upon request.
Note that MT 24×365 also caters to professional traders through a Professional account, with advantages including leverage ratios of 1:400 and negative balance protection.
Benefits
MT 24×365 is user-friendly for the beginner trader and the fully functional mobile app makes trading on-the-go easy. The crowd trading statistics section is also a relatively unique attribute that many clients may benefit from. Other benefits include APIs, safe CySEC-licensing, positive customer testimonials on forums and the esteemed MT5 platform.
Drawbacks
The selection of financial instruments is small compared to larger brokers and spreads are comparatively high. The account maintenance fee may also be off-putting for traders and the minimum deposit requirement is steep.
Trading Hours
The site is available 24/7 but trading hours vary depending on the asset. At MT 24×365 the majority of forex pairs can be traded between 10 pm on Sunday and 9 pm on Friday and the majority of stocks can be traded Monday to Friday during normal day-time hours. Most indices and commodities can also be traded from Sunday evening until Friday evening, but prospective clients should check the MT 24×365 website for full details.
Customer Support
The broker’s CEO has ensured clients have several options to contact customer support:
- Chat function– 24/5 Monday to Friday, accessible from the speech bubble icon on the left side of the homepage
- Contact form– available on the Contact page
- Phone number– +447727739661
- Email– support@market-24×365.com
The website also hosts a Help Centre with many in-depth FAQ pages where account support queries such as how to delete an account or make a complaint can be answered.
Note the broker’s headquarters address can be found on the MT 24×365 website.
Trader Security
MT 24×365 guarantees a high level of site security and data protection during and after login. The broker takes steps such as the use of separate servers in different geographical locations to separate online activity and transaction information, a double firewall protection system, and Verisign SSL for user authentication.
MT 24×365 Verdict
MT 24×365 offer services to CySEC-regulated broker offering something unique through its trading technology. The proprietary and MT5 platforms are safe and easy to use while the withdrawal process is straightforward. With that said, our review was disappointed with the wide spreads and hefty account maintenance fee. As a result, MT 24×365 wouldn’t be our first choice.
Accepted Countries
MT 24×365 accepts traders from Thailand, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Traders can not use MT 24×365 from Australia, New Zealand, United States, Canada, Iran, Korea, Belgium.
FAQ
1: Is MT 24×365 a scam?
MT 24×365 is not a scam or a hoax. This broker is owned by a genuine investment firm, HND Ventures Ltd, which is regulated by a respected financial authority – the Cyprus Securities & Exchange Commission (CySEC).
2: Is MT 24×365 a regulated broker?
This broker is regulated by CySEC and based in Cyprus, and as such is also subject to regulation by the European Markets in Financial Instruments Directive (MiFID).
3: What is MT 24×365 crowd trading?
Crowd trading is a feature that may help traders make decisions based on the ‘wisdom of the crowd’. Clients can see how other traders behave with each asset, i.e. what percentage are buying or selling, which may help them spot market trends.
4: Does MT 24×365 offer mobile trading?
MT 24×365 offers a mobile app available for both iPhone and Android which provides a user-friendly interface for executing trades. The app is free to download and also offers the crowd trading feature.
5: What is the withdrawal process at MT 24×365?
Withdrawal funds are returned using the same payment method as the initial deposit. Clients may need to show the same verification documentation required at account registration.
6: Who owns MT 24×365?
MT 24×365 is owned by Cypriot firm – HND Ventures Ltd. The established company has been in operation since 2020.
7: Is MT 24×365 a hoax?
No, MT 24×365 is a legit online trading platform with good customer testimonials. The company has clients in multiple countries and a strong track record.
