24option is an online Forex and CFD broker that operates from Cyprus and Belize. It offers forex, commodities, stocks and indices for trading on its platforms. It is a regulated brand.
|#||Broker's Features||24OPTION Availability||ORBEX Availability|
|#||Accepts US traders||❌||❌|
|#||24 hour trading||❌||✔|
|#||Trading by phone||❌||❌|
|#||1st deposit bonus||❌||❌|
|#||Forex contests competitions||❌||❌|
|#||Interest charges on the balance||❌||❌|
|#||24 hour support||❌||✔|
The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at onlineforextrading.net team collected over 50 data points. For this review, we will compare 24option vs Orbex.
Financial Trading and Investment Services: First of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, CFDs, cryptocurrencies or options. 24option offers Online Financial Trading and Investment Services Such as Currencies, Commodities, Indices, Stocks, Bonds, Cryptocurrency, while Orbex offers Currencies, Commodities, Indices, Futures.
Broker Type: Many types of brokers can be found in the most dynamic market in the world. 24option is Market Maker, STP, while Orbex is Dealing Desk, ECN, STP.
Is the Forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. 24option is regulated by CySEC, IFSC, while Orbex regulated by BaFin, CySEC, FCA. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.
Account currencies: Next lets consider the Account currencies each broker offers. 24option offers USD, EUR, GBP different account currencies for each account types, while Orbex offers account currencies.
Languages Available: Next lets have a look at each broker's different Language options. 24option offers English, while Orbex offers Arabic, Bengali, Chinese, English, French, German, Customer Support Languages.
Payment methods: Next lets have a look at each broker's payment options. 24option offers Credit/Debit Cards, Moneybookers, Neteller, QIWI, Skrill different payment methods for each account types, while Orbex offers Credit/Debit Cards, FasaPay, Moneybookers, Neteller, Skrill, Union Pay payment methods.
Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, 24option makes MT4 available to clients, while Orbex offers MT4.
There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.
Objectively, Orbex is more reliable based on our criteria above. Orbex has a wider range of instruments to trade giving you the flexibility to get access and exposure to a wide range of markets. Regulations play a huge role in protecting the traders/investors interest as they compel the financial service providers such as forex brokers to act in a fair and ethical manner. Orbex broker is regulated in more major hubs. Customer service in your national language might not be a major concern for traders based in English-speaking countries, but it is a defining requirement for traders from other regions such as Asia and South America. Orbex has a wider range of languages in which customer service is offered making the broker more accessible. Only Orbex provides training and education resources which is extremely critical to beginner traders who may not be familiar with most of what goes on in the Forex markets.
Finally, if you're really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable Personalised Broker based on your precise requirements here.