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.
SquaredDirect is a True DMA/STP Brokerage Firm acting strictly as an intermediary between clients and top-tier Liquidity Providers such as Internationally reputable banks and other globally acclaimed financial institutions providing investment services and solutions to retail clients.
|#||Broker's Features||SQUAREDDIRECT 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 SquaredDirect 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. SquaredDirect offers Online Financial Trading and Investment Services Such as Currencies, Commodities, Indices, 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. SquaredDirect is ECN, while 24option is Market Maker, 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. SquaredDirect is regulated by CySEC, 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. SquaredDirect offers EUR, USD 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. SquaredDirect offers English, while 24option offers English Customer Support Languages.
Payment methods: Next lets have a look at each broker's payment options. SquaredDirect offers Credit/Debit Cards, Debit cards, Neteller, Skrill, Wire transfer 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, SquaredDirect makes MT4 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, 24option is more reliable based on our criteria above. 24option 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. 24option broker is regulated in more major hubs. 24option offers a wider range of Account currencies. Why does base currencies matter? Because if you fund your account in the same currency as your bank account, currency conversion fees won't be charged. As 24option offer STP execution, you can expect tighter spreads with more transparency over the price you‘re paying to execute your trades. As a market maker, 24option may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements. Market makers typically have a lower minimum deposit, smaller minimum trade requirements and no commission on trades.
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.