Note: Since My24-Coins official site (https://my24-coin.com/) is not accessible at the time of writing this introduction, only a cursory understanding can be obtained from the Internet.
General Information & Regulation
My24-Coin, a trading name of 24 COIN HRS LIMITED, is allegedly a broker based in the UK that provides its clients with a Webtrader and MetaTrader4 trading platform, flexible leverage up to 1:200, floating spreads on a variety of tradable assets, as well as a choice of three different live account types.
Market Instruments
My24-Coin advertises that it offers a wide range of trading instruments across five asset classes, including forex, commodities, indices, share and cryptocurrencies.
Account Types
There are three live trading accounts offered by My24-Coin, namely Starter, Premium and Business. Opening a Starter account requires the minimum initial deposit amount of $250, while the other two account types with the much higher minimum initial capital requirements of $2,500 and $25,000 respectively.
Leverage
Traders holding different account types can enjoy different maximum leverage ratios. Clients on the Starter account can experience a leverage of 1:100, while the Premium account with a leverage as high as 1:150, and the Business account with a maximum leverage of 1:200. Bear in mind that leverage can magnify gains as well as losses, inexperienced traders are not advised to use too high leverage.
Spreads
Spreads are influenced by what type of accounts traders are holding. My24-Coin reveals that the spread on the Starter account starts from 1.0 pip, while the clients on the Business account can enjoy raw spreads from 0 pips. To be more specific, the spread for EUR/USD pair was floating around 0.0-0.2 pips on the demo Webtrader account.
Trading Platform Available
When it comes to trading platforms available,My24-Coin gives traders two choices: Webtrader and the industry-standard MetaTrader4 trading platforms. MT4 is known as one of the most successful, efficient, and competent forex trading software, offering an intuitive and user-friendly interface, advanced charting and analysis tools, as well as copy and auto-trade options. The
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Deposit & Withdrawal
My24-Coin accepts deposits via credit/debit cards, wire transfers and OKPay.The minimum deposit requirement is $250, while the minimum withdrawal amount is $250 for wire transfers ($50 transaction fee) and $100 on other payment methods ($25+10$ fee).
Fees
My24-Coin also takes some fees. For example, if your trading account does not have active transactions for six months, it will charge 10% of the balance monthly as an inactivity fee. Besides, if clients havent reached 200 times in turnover, a minimum fee of at least $35 as well as a levy of 10% will be charged.
Customer Support
My24-Coins customer support can be reached through telephone: +441632960881, email: support@my24-coin.com. Company address: 2 Albert Place, London, England, N3 1QB.
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