CFDs and Forex

What is a CFD ?
A CFD, or Contract for Difference, is an agreement between two parties to exchange the difference between the opening price and closing price of a contract. CFDs are derivatives products that allow you to trade on live market price movements without actually owning the underlying instrument on which your contract is based. You can use CFDs to speculate on the future movement of market prices regardless of whether the underlying markets are rising or falling. You have the opportunity to sell and profit from falling prices, or buy and profit from rising prices. Moreover, with our vast variety of markets, you can gain exposure to markets you may not have had access to before. We offer CFDs on shares, indices, and commodities.
What is Forex ?
Forex is a shortened term used for ‘Foreign Exchange’. It is the process of buying and selling currencies. The foreign exchange market is the biggest and most liquid financial market in the world. The market operates 24 hours around the clock from Sunday night through Friday and comprises central banks, currency speculators, organizations, governments, retail investors and international investors. Over the years, the size of the Forex market has been constantly increasing. According to the Bank for International Settlements’ (BIS) 2013 Triennial Survey of global FX market volumes, the average daily volume in the global Forex markets was estimated at $5.345 trillion, 34% higher in than the $3.971 trillion in April 2010.
How does CFD and Forex trading work ?
Forex is traded in currency pairs while CFD’s are commonly a financial instrument that is valued in a specific currency. Common currency pairs are the Euro/US Dollar (EUR/USD), US Dollar/Japanese Yen (USD/JPY), Great British Pound/US Dollar (GBP/USD), Euro/Japanese Yen (EUR/JPY) and Australian Dollar/US Dollar (AUD/USD). You can buy and sell each currency or financial instrument.
What are the Market trading hours ?
Normally, during the European and North American winter time, weekly activity begins on Sunday at 22:05 GMT continuously until Friday 21:00 GMT. During the Day Light Saving times in these regions, the weekly market activity begins on Sunday at 21:05 GMT and ends on Friday at 20:00. Market activity hours may vary due to public holidays or due to unusual liquidity conditions which may arise from exceptional global events. Opening or Closing times may also be altered by 24FXM due to liquidity and risk management considerations.
What tools do I need to trade online ?
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How old do I need to be to trade ?
You must be over the age of 18 to trade.
What is Leverage ?
Leverage is used to significantly increase your purchasing power. No other market gives you so much liquidity and leverage at the same time. On some instruments, 24FXM provides a leverage of up to 200:1. This means that with a deposit of $100, you can trade with up to $20,000.
What is a Pip ?
In financial markets, specifically in the Forex market, pip (percentage in point) is a unit of change in an exchange rate of a currency pair. Most major currency pairs are priced to four decimal places, and a pip is one unit of the fourth decimal point: for dollar currencies this is to 1/100th of a cent.
What is a Spread ?
The spread is the difference between the BUY price and the SELL price of two instruments. For example, if the EUR/USD is trading at 1.3100 (buy) and 1.3098 (sell), then the spread is 2 pips.
What does going "long" and "short" mean ?
Going “long” is when a trader buys an asset expecting its value to rise. This is also called opening a long position. Going “short” or opening a short position, is when a trader sells an asset, expecting its price to decline so it can be bought back in the future at a lower price
Does the Forex market have a central location ?
Unlike the equities market, the Forex market does not have a central location. Transactions take place over the internet or phone which is why the market is available 24 hours a day.
How are prices determined ?
There are various ways prices can change. Economic and political conditions usually affect the value of an asset, along with interest rates, inflation, and supply and demand.
What are the costs of trading Commodity and Index based CFDs with 24FXM ?
24FXM does not charge any fee and/or any direct commission based fee for trading Commodity and Index based CFDs. The clients’ costs are derived solely from the spread - this is the difference between the buy price and the sell price, which is always displayed on your trading screen.

Binary Options

What are Binary Options ?
Binary Options are a simple and exciting method of trading the financial markets, based on the determination of whether the price of an asset (such as a currency pair, commodity, stock index or share) will close ABOVE or BELOW the current price within a set time period. Binary options are easy to execute, fun to trade and potentially highly profitable.
What is a CALL option ?
You want to buy a CALL option if you think the price of an asset will close ABOVE the current rate upon expiration.
What is a PUT option ?
You want to buy a PUT option if you think the price of an asset will close BELOW the current rate upon expiration.
What does "in-the-money" mean ?
You are ‘in-the-money’ if your speculation of an asset’s price is correct at the time of expiry.
What does "out-of-the-money" mean ?
You are ‘out-of-the-money’ if the market moves in the opposite direction from your prediction of an asset’s price at the time of the expiry.
What happens if my option expires at the Option Rate ?
If the expiration rate of your option is exactly the same as your option rate, you are considered “At-the-money”. In this specific situation you will be refunded 100% of your initial investment.
How much do I need to invest on a trade ?
You can trade any amount between $10 and $1000 depending on your confidence level and risk tolerance.
What options can I trade ?
24FXM offers over 150 assets that you can open binary option trades on. This includes: GBP/USD, EUR/USD, GBP/JPY, AUD/USD, USD/CHF, EUR/JPY, Oil, Gold, US 600 and many more.
What is the expiry time ?
The expiry time is the time and date at which an option expires. The time to expiration varies between the different options. Fixed Expiration Options are the standard High/Low options which offer expirations in the coming hours, while Turbo Options offer a very short time expirations of 5 minutes, 2 minutes or 60 seconds, to be chosen according to each trader’s preferences. Binary Options’ transactions are executed “in Market Rates”, meaning in the price in effect available on the market as indicated on our servers at the time the order is placed, provided that it is similar to the price displayed in the platform, or otherwise declined. After the expiration, our trading systems calculate your return according to the last rate which was available prior to the expiration time and if required, your account is automatically credited accordingly.
What is the Time Zone of the expiry time ?
The time zone of the expiry time is set at GMT.

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