24yield.com – Review

24yield.com briefly 

The 24yield.com website is the product of many years of efforts and experience of an EU-regulated brokerage that offers clients an easy-to-use platform, lightning-fast order execution and decent spreads on the instruments offered. The practical platform and good trading conditions are accompanied by polite and professional customer service, providing a good investment opportunity. 24yield.com is a brand of the European brokerage company Ever Financial AD, which operates in accordance with MiFID II regulations and has an EU license issued by the BFSC. 24yield.com strives to maintain an innovative and conducive investment environment for retail traders, making it easier for them to join global markets, the company’s website said. 24yield offers online trading of CFDs on currency pairs, commodities, indices and shares through its own web-based terminal. The minimum initial deposit is 500 USD. 

Regulation  

First, it is a good idea to find out about the licenses of financial companies. Ever Financial AD complies with European and local regulations such as the European Markets in Financial Instruments Directive II (MiFID II) and the Markets in Financial Instruments Regulation (MiFIR) and has an EU license issued by the BFSC under registration number RG 03-08. As an investment intermediary authorized by an EU Member State regulator, Ever Financial AD can offer its services on a cross-border basis to countries in the European Economic Area (EEA). Complying with European regulations, Ever Financial AD is required to keep client funds safe and separate from the company’s own funds. As a member of the Investor Compensation Fund (ICF), clients of Ever Financial AD receive compensation in the unlikely event of the company’s bankruptcy. In addition, 24yield.com is also operated by Ever Financial (Global) Ltd regulated in Mauritius and Global Clearing House Ltd, which is regulated in Oceania. 

Account Types  

Customers are given the opportunity to choose the most suitable for them from the three types of real accounts available. They differ mainly in the minimum deposit required and the spreads offered. 

Explorer Level – Minimum deposit required is 500 USD. More than 1,000 instruments are available for trading and spreads for major currency pairs start from 1.0 pips. 

Pioneer Level – You can start trading by investing 10,000 USD and spreads for major currency pairs start from 1.5 pips. In addition to the features of the silver bill, you will also get some educational materials here. 

Master Level – The minimum required deposit is USD 25,000 and spreads for major currency pairs start at 0.9 pips. In addition to gold account features, here you will get technical and fundamental analysis. 

What Do Legal Documents Show?  

The Terms and Conditions texts confirm that retail customers are covered by the Negative Balance Protection Policy. This means that they cannot lose more than the amount they have deposited. This is very important as otherwise you could end up owing the company money. In the event of rapid market movements where the customer’s trading balance may reach a negative balance, 24yield.com covers this negative amount at its own expense.  

The default model of order fulfillment is the market execution model, where orders are subject to slippage. So, when the requested price shown to the client is not available, then the order will be executed at the next available market price. Slippage may incur to market, limit, entry stop and entry limit orders. However, it is noted that the stop orders (stop loss orders) are executed without slippage and the company covers the difference between the price at which the order was placed and the market price at which this order could be filled. In other words, stop loss orders are guaranteed completely free.  

Fees  

Generally, each trader pays common fees such as spreads, swaps, and rollovers. In addition, if you have not made any transactions within a period of 30 days, your account is classified as inactive, and the company has the right to impose an inactivity fee of 1% per day (not less than EUR10) of your account balance. 

Deposits and Withdrawals  

Clients can deposit funds into their accounts via bank transfer and credit or debit cards (VISA and Mastercard). The minimum first deposit depends on the account type and is USD 500 for the Silver account. Normally, when carrying out transactions, the bank or the relevant payment provider charges fees/commissions, which are covered by the client.  

Withdrawals will be paid directly into the same account used by the client to deposit money. Withdrawal requests will be processed on the same day they are made. Withdrawal fees for each method of payment are covered by customers.  

Trading Platforms  

24yield.com has developed its own web-based trading platform that requires no software installation and can be run on any browser or mobile device. Additionally, the software team has also made an app available for download from the Google Play Store and the App Store. It is highly rated and offers all the features of the web-based version, while being easy to use and reliable. Both platform modifications help clients easily and securely trade all available assets. The web platform is recommended for beginners and ordinary investors. Both platforms provide several risk management features that can be used quickly and easily. Hedging is also available at 24yield.com. 

Assets  

Opening an account with a company with a European license will bring you less risky trading, but also lower profit opportunities. If you open a GCH account, you will be able to trade with a maximum leverage of 1:100, while if you open a real account with Ever Financial AD, you will be able to trade with a maximum leverage of 1:30 (according to the latest ESMA II requirements). 24yield.com has divided the assets offered into four main groups: 

Currency Pairs – 260 currency pairs can be traded, including majors, minors and exotics. Spreads depend on the type of account and the minimum value for the EUR/USD pair is 0.9 pips.

Commodities – CFDs on 53 commodities are available for trading. They include Gold, Silver, Crude and Brent Oil, other precious metals, cereals, and agricultural products. The spread for Gold is fixed at USD 0.7 and the one for Crude Oil starts from USD 0.098 (Platinum account).

Indices – Clients can trade spot CFDs on 40 indices, such as DAX (Germany40), CAC40 (France40), DJIA(US30), etc. The minimum value of the spread for the DAX index is 4.4 points and for the DJIA index it is 10.5 points.

Shares – 24yield.com offers more than 400 CFDs on shares of companies of 19 countries globally, including Apple, Facebook, Alphabet, Tesla and more. You will be charged a commission of EUR2 per deal regardless of the traded amount.

News  

One very useful feature offered by 24yield.com is financial news. Up-to-date news on the ratings of the companies offered, as well as the latest changes in analysts’ price targets, are available for free. In the news window, you can also follow Trading Central’s analysis and trading recommendations.