I have PERSONAL experience with Trade-24. I have been in their Ramat Gan offices, and met their advisers.
They talk nicely, but they make it seem easier than it is. Their platform for following traders seems nice, but you don’t know anything about their traders history.
I lost a bunch of money because of their sweet talking “this is not risky” when it very much is.
If you have $20,000 with forex, don’t expect to be learning in Kollel on the level of risk they’ll want you to go into. 5% monthly is amazing in Forex – but they’ll try to convince you for 20%. 5% on $20k is $1000/month (assuming there are no extra fees). If you had $200k, that’s great. but you’re going to enjoy $1000, and it won’t be enough, and you might risk more.
They are a broker who trade against the trader, assuming (95% of the time they’re right) you will fail and lose everything. They will send you to “mirror” other traders – which basically means there is no accountability.
You are in Kollel, you might think there’s no way to earn a living otherwise. It’s NOT true.
If you want to invest in forex, I ONLY recommend “Goldstar” from the Simple Trader platform. The problem is that US citizens are officially barred (due to the Dodd-Frank act) from participating in Forex. Trade-24 is doing something that is illegal if they are catering to US citizens. Not that it’s against halacha, but their brokerage could theoretically get shut down and your money stuck.
They hate it when you try to withdraw. They will give it to you eventually, but it will be a fight.
I have better ways for you to make money. I think investing in Fintech, especially in Merchant Cash Advances, is a better way to make 10-20% yearly return on investment. And not much work. I’d love to give you advice.