Note: MY24COIN is to operate via the website - https://my24coin.com/, which is currently not yet functional and no information about the company was immediately available. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
General Information & Regulation
MY24COIN, a trading name of 24 COIN HRS LIMITED, is allegedly a forex broker registered in the United Kingdom that claims to provide its clients with leverage up to 1:200 and floating spreads from 0.0 pips on the MetaTrader and Webtrader trading platforms.
As for regulation, it has been verified that MY24COIN currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.24/10. Please be aware of the risk.
Market Instruments
MY24COIN advertises that it is a forex broker that mainly offers forex currency pairs trading. However, more specific information about tradable assets cannot be found on the Internet.
Leverage
The maximum leverage provided by MY24COIN is capped at 1:200. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Spreads
The EUR/USD spread delivered by the Webtrader at MY24COIN is floating around 0.0 and 0.2 pips.
Trading Platform Available
MY24COIN delivers MetaTrader and Webtrader trading platforms. However, the MT provider is FxToAll, which is known to work with numerous scam brokers. The following is the screenshot of Webtrader.
Deposit & Withdrawal
MY24COIN says to work with Credit/Debit cards, Wire Transfers and OKPay. The minimum initial deposit requirement is said to be $250. While the minimum withdrawal is $250 for Wire Transfers ($50 transaction fee) and $100 for other methods ($25+10$ fee). Moreover, if clients havent reached 200 in turnover, they should pay another 10%.
Bonus & Fees
MY24COIN claims to offer some bonuses. However, the bonus can only be withdrawn when a minimum trading volume of 30 times the bonus plus the deposit is achieved.
The broker also charges an inactivity fee. An account becomes dormant after 6 months of inactivity and will be charged 10% of the balance per month.
Customer Support
MY24COINs customer support can be reached by telephone: +441632 960881, email: support@my24coin.com. Company address: 2 Albert Place, London, England, N3 1QB.
Pros & Cons
Frequently Asked Questions (FAQs)
