In addition to the three live trading accounts, 24Stox offers a demo account for testing purposes. Allegedly there is also an ECN account that allows scalping.
The Company. Security of Funds
Company Country Regulation
2dots Limited Vanuatu None
24Stox is a brand of the company 2dots Limited. On its site the broker displays a certificate for incorporation in Vanuatu. Apparently the company was set up earlier this year. It, however, does not have a license for financial services from the Vanuatu Financial Services Commission. Instead, there is something called Principal’s License, signed by Vanuatu’s minister of finance and economic management. The document allows the company to do business as a dealer in securities. We are not sure what to make of this, but either way, we believe dealing with this company is somewhat risky.
Vanuatu is one of the several offshore zones preferred by shady forex brokers, along with Saint Vincent and the Grenadines, the Marshall Islands and the Seychelles. As offshore zones, those islands have very lax, if any, requirements for the companies set up there and exercise hardly any supervision. This is why quite often brokers based in those places turn out to be a scam and their owners disappear with their clients’ money never to be heard from again.
The licenses from the local authorities in charge of supervising the financial services providers do not guarantee safety either. Generally, it is better to deal with brokers with reliable regulation, like the one provided by UK’s FCA or the Australian Securities and Investment Commission (ASIC).
Not surprisingly, 24Stox offers the popular MetaTrader 4 as a trading platform.
The MT4 has been the favorite of brokers and traders alike for over 10 years now and it does not seem it is going away anytime soon. The platform is user friendly, supports multiple types of orders, hedging and third-party APIs. The MT4 also provides various charting and technical analysis tools, Expert Advisors (automated trading) and a lot of other options.
Methods of payment
24stox accepts payments through bank transfers, credit and debit cards and the following online payment platforms: Neteller, Skrill, WebMoney, FasaPay and the Kuwaiti payment gateway K-net.
24stox is one of the hundreds similar offshore forex brokers with dubious regulation, if any. Sometimes we just wonder who needs so many such companies. Besides their owners, that is.
They all offer more or less the same average conditions, the same trading platform and similar trading instruments like many other forex brokers, so frankly we don’t see a reason to choose 24stox over another broker, especially a properly regulated one.
24Stox Review Conclusion
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