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||FBS Availability||24OPTION 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 FBS vs 24option.
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. FBS offers Online Financial Trading and Investment Services Such as Currencies, Stocks, while 24option offers Currencies, Commodities, Indices, Stocks, Bonds, Cryptocurrency.
Broker Type: Many types of brokers can be found in the most dynamic market in the world. FBS is ECN, No dealing desk, STP, while 24option is Market Maker, STP.
Minimum Deposit Requirement: To compare these two FX brokers, we will then take a look at how much is required as a basic minimum to open an account. You need to consider how much money you can spare to start off a Forex brokerage. FBS recommended minimum capital is 1, while 24option has a Minimum Deposit Requirement of .
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. FBS is regulated by CySEC, IFSC, while 24option regulated by CySEC, IFSC. 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. FBS offers EUR, USD, THB different account currencies for each account types, while 24option offers USD, EUR, GBP account currencies.
Languages Available: Next lets have a look at each broker's different Language options. FBS offers English, Indonesian, Malay, Chinese, Japanese, Kor, while 24option offers English Customer Support Languages.
Payment methods: Next lets have a look at each broker's payment options. FBS offers Visa/Mastercard, Bank Wire Transfer, Neteller, Skrill, WebMoney, Perfect Money, OKPay, Fasapay; Local Indonesian banks: Bank Central Asia, Mandiri, Ba different payment methods for each account types, while 24option offers Credit/Debit Cards, Moneybookers, Neteller, QIWI, Skrill payment methods.
Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, FBS makes MT4, MT5 available to clients, while 24option 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, FBS is more reliable based on our criteria above. FBS has a wider range of instruments to trade giving you the flexibility to get access and exposure to a wide range of markets. FBS offers a wider range of platforms making it easier for the traders to choose one that matches their needs most. 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. FBS has a wider range of languages in which customer service is offered making the broker more accessible. One of the criteria we looked at before opening an account on a forex broker is the minimum deposit amount. FBS broker offers lower minimum deposit requirement. Only FBS 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.