Freedom24
Pros and Cons
Pros
- Regulated by the Cyprus Securities and Exchange Commission (CySEC)
- Diverse trading instruments including forex, stocks, ETFs, options, and futures
- User-friendly trading platforms: web platform, mobile app, and MT5
- Customer support available in multiple languages, 24/5
- Access to comprehensive analytics and daily investment ideas
Cons
- €7 withdrawal fee for bank transfers
- Limited payment methods (only bank transfer and credit/debit card)
- No fractional shares available for stock purchases
- Insufficient advanced trading tools and features
- Limited educational resources compared to major competitors
Basic Information
User Reviews
Freedom24 Overview
Freedom24 is a reputable online broker founded in 2013, headquartered in Cyprus. It operates under the full name Freedom Finance Europe Ltd and is regulated by the Cyprus Securities and Exchange Commission (CySEC), holding the license number CIF 275/15 issued on May 20, 2015. This regulatory oversight ensures that Freedom24 adheres to strict financial standards, providing clients with a trustworthy and secure trading environment.
The broker offers a wide range of trading instruments, including forex, stocks, ETFs, options, and futures, allowing traders to diversify their investment portfolios. Freedom24 features a user-friendly trading platform equipped with essential tools such as real-time quotes, advanced charting options, and risk management features. Customer support is available in multiple languages, ensuring that traders receive assistance tailored to their needs. With a commitment to providing comprehensive analytics and a diverse selection of financial instruments, Freedom24 stands out as a competitive option for both new and experienced traders in the global market.
Is Freedom24 Safe? Regulation Analysis
Regulatory Information
| Regulatory Authority | Country/Region | Fund Protection Measures |
|---|---|---|
| Cyprus Securities and Exchange Commission (CySEC) | Cyprus | Segregated Funds, Investor Compensation Scheme |
Is Freedom24 Regulated and How Are Client Funds Protected?
Freedom24 is a regulated online broker operating under the oversight of the Cyprus Securities and Exchange Commission (CySEC). With its license number CIF 275/15 issued on May 20, 2015, Freedom24 adheres to strict EU regulations that promote transparency and investor protection. Client funds are safeguarded through measures such as segregated accounts, ensuring that clients’ assets are kept separate from the broker’s operational funds. Additionally, clients may benefit from the Investor Compensation Fund, which provides coverage in case of broker insolvency, up to a specified limit. The broker’s commitment to regulatory compliance and investor protection further enhances its reputation as a safe and legitimate trading option for clients in the European Union and beyond.
Trading Products and Services
What trading instruments does Freedom24 offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | Major Pairs / Examples | Varies |
| Commodities | Gold, Oil | Varies |
| Indices | S&P 500, NASDAQ | Varies |
| Stocks | US, UK | Varies |
| Cryptocurrencies | BTC, ETH | Varies |
Freedom24 provides a diverse array of trading instruments across multiple asset categories, including Forex, commodities, indices, stocks, and cryptocurrencies. This variety caters to different trading styles and strategies, making it suitable for both novice traders and seasoned investors. For example, Forex traders can engage with major currency pairs, while stock enthusiasts can explore a broad selection of equities from various markets. Additionally, the inclusion of commodities and indices offers opportunities for portfolio diversification, allowing traders to adapt their strategies based on market conditions. By supporting multiple asset categories, Freedom24 enhances the trading experience, enabling users to optimize their investment portfolios effectively.
Account Types and Trading Conditions
What Account Types and Fees Does Freedom24 Offer?
| Account Type | Target User Group | Key Characteristics | Applicability Notes |
|---|---|---|---|
| Retail Account | Beginners and general investors | No monthly fees, various trading instruments | Suitable for casual trading and diverse investment strategies |
| Professional Account | Experienced traders | Enhanced trading features, lower fees | Requires trading volume qualifications |
| Corporate Account | Corporate clients | Customized services for businesses | Requires corporate documentation |
| Demo Account | New traders | Risk-free practice with virtual funds | Ideal for familiarizing with the platform |
Account Opening Process
Opening an account with Freedom24 is a straightforward process that typically takes about 10 to 15 minutes. To begin, users need to provide personal information, including details related to employment and financial status. After submitting the required information, identity verification is necessary, which includes providing a clear copy of an identification document and proof of address. Once verified, traders have the flexibility to upgrade their accounts, for instance, moving from a Retail Account to a Professional Account as their trading needs evolve.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (Major Pairs) | Varies | $0 (ECN: $3.5/lot) | Tight spreads for major pairs |
| Stocks (US, UK) | Varies | $0.012 per share | Commission based on trade value |
| ETFs | Varies | $0.012 per share | Transparent pricing structure |
| Cryptocurrencies (BTC, ETH) | Varies | 0.1% | Variable depending on market conditions |
Other Fees
In addition to trading fees, Freedom24 may charge various other fees, including deposit and withdrawal fees that may apply depending on the payment method. Withdrawal fees of €7 apply for bank transfers. There are no inactivity fees for accounts. Users should also be aware of potential overnight interest (swap rates) and currency conversion fees that may arise when trading in different currencies.
Trading Platforms and Apps
What Trading Platforms and Apps Does Freedom24 Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| Web Platform | Windows, macOS | Secure login, market and pending orders, limit and stop orders, real-time quotes | Demo account available |
| Mobile App | iOS, Android | Two-factor authentication, price alerts, push notifications, access to market data | Access to account management tools |
| MT5 | Windows, macOS, iOS, Android | Multi-asset trading, advanced charting, technical indicators | API interface available |
Freedom24 offers a diverse range of trading platforms to cater to various trading needs. The web platform is designed for comprehensive trading with features that support secure logins and multiple order types. The mobile app enhances convenience, allowing traders to manage their accounts and receive real-time alerts from anywhere. MT5 is suited for advanced traders, providing a wide array of analytical tools and multi-asset capabilities, ensuring fast order execution and efficient market searches. Overall, Freedom24 supports a seamless trading experience across devices while prioritizing security and user-friendly functionalities.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| Bank Transfer | 3–5 days | €7 withdrawal fee | Min €50, Max €20,000/day | EUR, USD |
| Credit/Debit Card | Instant | No platform fee | Min €50, Max €10,000/day | EUR, USD |
| e-Wallets (e.g., Skrill, Neteller) | Instant | 1.5% e-wallet charge | Min €50, Max €10,000/day | EUR, USD |
Minimum Deposit
The minimum deposit requirement for Freedom24 is €50. This amount is consistent across various payment methods and account types, making it accessible for traders looking to start investing.
How to Withdraw
1. Log in to your Freedom24 account.
2. Navigate to the “Withdrawal” section in your account dashboard.
3. Select your preferred withdrawal method (e.g., bank transfer, e-wallet).
4. Enter the amount you wish to withdraw, ensuring it complies with the limits.
5. Confirm your withdrawal request.
6. Await processing, which may take 3-5 days for bank transfers or be instant for e-wallets.
Customer Support
Freedom24 Customer Support Overview
Support Channels
Freedom24 provides several contact methods to ensure effective customer support. Users can reach out via:
- Email: Clients can send inquiries to info@freedomfinance.eu for assistance with various issues.
- Live Chat: Available on the website, offering immediate help for urgent queries.
- Telephone: Customers can contact support through dedicated phone lines for direct assistance.
- Social Media: Freedom24 maintains a presence on platforms like Facebook and Instagram, allowing users to engage and seek support through these channels.
Service Availability
Customer support at Freedom24 is available during business hours, typically 24/5, ensuring traders receive assistance when they need it. The broker offers multilingual support, catering to clients in several languages, including English, Czech, French, German, and Italian, among others.
Additional Resources
To enhance the trading experience, Freedom24 provides various educational resources, including market analysis and trading signals, helping clients make informed decisions. These resources complement the direct support channels, offering additional layers of assistance and information.
Frequently Asked Questions
Yes, Freedom24 is regulated by the Cyprus Securities and Exchange Commission (CySEC). Client funds are protected through measures such as segregated accounts, ensuring that clients’ assets are kept separate from the broker’s operational funds. Additionally, clients may benefit from the Investor Compensation Fund, which provides coverage in case of broker insolvency, up to a specified limit.
Freedom24 offers a diverse array of trading instruments across multiple asset categories, including Forex (major pairs), commodities (such as gold and oil), indices (like S&P 500 and NASDAQ), stocks (from the US and UK), and cryptocurrencies (including BTC and ETH). This variety caters to different trading styles and strategies.
Freedom24 offers several account types, including Retail Accounts for beginners with no monthly fees and various trading instruments, Professional Accounts for experienced traders with enhanced features and lower fees, Corporate Accounts for businesses with customized services, and Demo Accounts for risk-free practice with virtual funds. Each account type is designed to meet the specific needs of different user groups.
Customers can contact Freedom24’s customer support via multiple channels, including email at info@freedomfinance.eu, live chat available on the website for immediate assistance, dedicated phone lines for direct help, and social media platforms like Facebook and Instagram. Support is generally available during business hours, typically 24/5, in multiple languages.
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Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.