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Dubai FXM24
Rating: Rated with 1 star
Binary Option Programs Award
Min. Deposit
$200
Min. Investment
N/A
Regulated Broker
No

Dubai FXM24 Broker Review

  1. Dubai FXM24

    Dubai FXM24 is an unlicensed forex and CFD broker based in the South Pacific Ocean nation of Vanuatu that offers South Africans the ability to trade in all major financial markets including CFDs in forex, commodities, stocks, indices and cryptocurrencies. Dubai FXM24 is registered with The Financial Commission.

    Before investing any money with this broker, read our full review and honest verdict below.

    The 5 Account Types

    Dubai FXM24 offers South African investors five different accounts to choose from, as usual based on the initial deposit. Of course, the higher the deposit, the more special features added to the account. The broker also has a demo account available for beginners to test the platform and practice trading entirely risk-free.

    All five accounts offer South African investors the following features:

    • EUR/USD accounts
    • Free eBook
    • Free training
    • Free webinars
    • Personal Account Manager
    • Trading insider
    • One-Click Trading

    Each account is outlined in detail below. Take a look at them carefully before deciding which account you prefer.

    Discover Account –> $200 – $999 Minimum Deposit

    • 5 protected positions

    Silver Account –> $1,000 – 4,999 Minimum Deposit

    • 5 protected positions
    • Trading central (1 month)
    • Spread discount *on commodities

    Gold Account –> $5,000 – $9,999 Minimum Deposit

    • 10 protected positions
    • Trading central (2 month)
    • Spread discount *on commodities, indices, all forex majors

    Premium Account –> $10,000 – $24,999 Minimum Deposit

    • 10 protected positions
    • Trading central (3 month)
    • Spread discount *on commodities, indices, all forex majors
    • Personal customer service agent

    VIP Account –> $25,000 – $50,000 Minimum Deposit

    • 15 protected positions
    • Trading central (4 month)
    • Spread discount *on commodities, indices, all forex majors
    • Personal customer service agent

    Demo Account 

    Dubai FXM24 also offers a free demo account, which is always a great advantage – especially for beginners. Demo accounts give South African users the opportunity to practice their trades on the Dubai FXM24 platform before investing any real money.

    The feature is often used by more experienced traders as well, who like to test out broker platforms before making their first deposit.

    Trading Platform & Assets

    As mentioned above, Dubai FXM24 offers South Africans a wide range of trading instruments to choose from, including forex, over 100 cryptocurrencies, commodities, indices and stocks. The spreads are fixed at 1.5 pips.

    The leverage available depends on your experience.

    • Default leverage: 1:50
    • Beginner leverage: 1:100
    • Professional leverage: 1:200

    As for the trading platforms, Dubai FXM24 has three different platforms available for South African users to choose from, depending on individual preference.

    All three platforms are listed below.

    MetaTrader 4 (MT4)

    The MetaTrader 4 (MT4) platform is one of the most popular forex trading platforms, used by both beginners and experienced traders. Its powerful, user-friendly interface can be downloaded onto your desktop or mobile device.

    SIRIX Web Trader (+ Social Trading)

    If you prefer to not download any application onto your device, you can always use the Dubai FXM24 Web Trader. The broker uses the SIRIX platform, which can be accessed simply be logging into your Dubai FXM24 account, with absolutely no downloads or installations. All you need is an internet connection and you are good to go.

    One of the interesting features of SIRIX is that it also uses social trading. Social trading is usually preferred by beginners, for it allows you to follow more experienced traders and copy their trades.

    Warning: Social trading may sound perfect to you if you are a complete beginner, but always remember: it does not guarantee success. Never just copy everything you see without giving it any second thought. Experts can make mistakes too, and it is always important to keep in mind that trading always comes with some degree of risk.

    Mobile App  

    Mobile trading is perfect for trading on-the-go, wherever you may be. Many traders prefer to use their mobile devices for trading so as to not be limited by being at home or having to open their laptops.

    The Dubai FXM24 is available to all South African users through Google Play and the App Store.

    Dubai FXM24 Bonus Offers

    Dubai FXM24 also has several bonus offerings, which are outlined below.

    • 50% bonus for a $500 deposit
    • 70% bonus for a $1,000 deposit
    • 100% bonus for a $50,000 deposit

     

    Warning: Always check the terms and conditions before accepting any bonus offer, for bonuses are a common way to trick South African traders into investing more money. It is never as straightforward as it seems, and they usually have impossible conditions attached when it comes to receiving the actual bonus.

    Consider this: Regulated and licensed companies never offer any bonuses, and for good reason.

    Customer Support

    The Dubai FXM24 customer support team is available through a variety of ways including email, phone, WhatsApp, Skype and live chat. A good customer support team is always an important advantage when it comes to each company, for it shows how they like to treat their customers.

    Company Info & Payment Methods

    Dubai FXM24 is owned and operated by the company Dubai FXM Ltd based in Vanuatu. The company is registered with the Vanuatu Financial Services Commission under the license number 40133/17 and is a member of The Financial Commission.

    Dubai FXM24 accepts a large range of payment methods that include credit card (Visa, Mastercard, Maestro), bank wire transfers ,cryptocurrency deposits (bitcoin, litecoin, Ethereum), and e-payments like Skrill and Neteller.

    Verdict: Is Dubai FXM24 a Scam?

    After careful review of this broker, our team has concluded that Dubai FXM24 is not a trustworthy company and South African traders should stay away.

    The biggest red flags when it came to this broker is their lack of proper regulation and transparency. Dubai FXM24 is not regulated or licensed under any proper regulatory agency and their website lacks information on the trading conditions – which is never a good sign.

    Conclusion: Instead of wasting your time with non-regulated companies, trade directly with the best, regulated brokers like IQ Option – an award-winning broker that is known for their transparency and professionalism.

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