24k Markets appears to be a new Forex Broker whose domain is only 9 months old. Because of that, there is a lack of general information about the broker, background, and the CEO. However what is known is the fact that it’s operated by 24k Markets Ltd, with the company number 2023-00364. The registered company address is Ground Floor, The Sotheby Building, Rodney Village, Rodney Bay, Gros-Islet, Saint Lucia.
What Does 24k Markets Broker Offer?
24k Markets broker offers you a bunch of trading instruments with different spreads. The website is generally easy to use. You can choose from many account types depending on your experience level, even Islamic Accounts. While you’re able to see the fact they’re clear about the fees and services they provide, there are not many user reviews out there, and their regulatory status is questionable. You might want to do some digging before you decide to trade using this broker.
Fees
You can find the fees and commission at 24k Markets’ website transparently stated in the FAQ section. There are actually no withdrawal fees from their side, but your wallet will charge you fees that the broker is not responsible for. If you’re withdrawing via Crypto, you’ll get charged based on the network used. The trading commissions and transaction fees depend on the currency symbol in your account:
| Asset | Commission Fee (per lot) |
|---|---|
| Cryptos | $10 |
| Energies | $8 |
| EU Shares | $8 |
| Standard Forex | $7 |
| Forex Pro | $8 |
| Indexes | $7 |
| Metals | $10 |
| Mini Forex | $1 |
| Mini Indexes | $8 |
| US Shares | $8 |
Transaction Fees
| Bitcoin | 0% |
| Bitcoin via Debit/Credit Card: | 0% |
| Cryptocurrencies (USDT/DOGE/ETH/LTC/USD Coin/Ripple) | 2.5% |
Restricted Countries
Afghanistan, Botswana, Burma(Myanmar), Democratic Republic of Congo, Crimea, Cuba, Ethiopia, Iran, Iraq, Japan, Libya, Malta, North Korea, Pakistan, Republic of Congo, Russian Federation, Somalia, Spain, Sudan, Syria, Trinidad and Tobago, Tunisia, Yemen, Zimbabwe.
Trading Instruments at 24k Markets
There is a large number of trading instruments you can choose from like Forex, stocks, indices, cryptocurrencies, and commodities. There are 55 currencies, 38 cryptos, and 73 stocks available for you to trade.
Educational Resources
24k Markets lacks educational content and resources you can use as a beginner. You can still try the demo accounts and learn how to trade without them, so this broker is not limited to experienced traders only.
Does 24k Markets Offer Bonuses?
24k Markets does not offer bonuses.
24k Markets Trading Accounts
At 24k Markets, you have three types of accounts you can open, real or demo accounts, and an Islamic account. Each of them is for different experience levels with different spreads, leverage, etc.
Demo Accounts
- Risk-Free: Account with zero risk and real market conditions
- Practice: Account with demo trading and practicing before profits.
- Learn: No-string trading.
Real Accounts
All of the accounts have leverage up to 1:500.
- Standard Account: Offering spreads from 0.8 pips and order volume per lot $7.
- Pro Account: If you’re looking for tighter spreads, this account features spreads from 0.4 pips and $8 per lot order volume.
- Var Account: This account has no minimum order volume and spreads start from 0.2 pips.
- Mini Account: If you’re new to trading and just starting, this account gives you spreads from 1.0 pips and a minimum order volume of only $1 per lot.
How to Start Trading at 24k Markets
Account Login and Registration:
Creating an account at 24k Markets is a straightforward process that contains a few steps:
- Click the “Sign up” button on the right
- Fill in the information
- Click “Sign up”
- Tap the “Complete sign up” in the email
- Fill in the additional information
- Click “Create Your Account”
You can secure your account with two-factor authentication via SMS, Email, or Authenticator Application.
Mobile Trading on 24k Markets
24k Markets doesn’t have a separate mobile app you can use. This doesn’t mean you can’t trade on the go, because the website is compatible with mobile devices.
24k Markets Payment Options
There is only one withdrawal option available at 24k Markets, and that is Bitcoin with a minimum withdrawal amount of $100.
Options for depositing funds like Bitcoin, Litecoin, Ripple, Dogecoin, Tether, USD Coin, and Bitcoin via Instacoins are available. All of them require a minimum deposit of $10, except Bitcoin via Instacoins that’s $50. The processing times vary for every deposit because of the Blockchain Network.
Withdrawing Funds at 24k Markets:
If you wish to withdraw your funds, follow these steps:
- Click “Withdraw”
- Select the withdrawal type and wallet
- Enter the withdrawal amount
- Click “Request Withdrawal”
- Provide your crypto address
- You’ll receive a confirmation email, and you’re done
24k Markets Trading Platform
You can use the TradeLocker platform to trade at 24k Markets. This platform is widely used by many brokers and prop firms. There are several features you can use on this platform like customizing your charts, one-click trading, taking pictures of your chart, etc. EAs and trading bots are forbidden. There is a whole FAQ section dedicated to TradeLocker. You can find information there on how to create an account, details about all the cool features, and instructions on how to use it.
User Reviews and Broker Community
Surprisingly, there are no user reviews on Trustpilot and Reddit about this broker. 24k Markets is rated with only 1 point from Scamadviser, flagging it as a scam. The detailed information mentioned that the domain is only 9 months old and that the website offers high-risk financial services. It states that they also offer anonymous payment methods, which can and doesn’t have to be bad. That option can be beneficial for customers, but this also helps the merchant to hide.
Customer Support
The 24k Markets customer support is available via email and support ticket. If you wish to open a support ticket, simply click the “Submit a ticket” button in the FAQ section. You can use this address to send an email: [email protected].
User-Friendly Interface
24k Markets has a black and gold, simple interface. On the top of the page are the dropdown menus with all the important features. The FAQ section provides detailed answers to many questions you might have.
Verdict
The 24k Markets has no real user reviews and the site appears risky on scam scanning sites. Although the scam scanning sites are not necessarily 100% right when it comes to new brokers it’s not something to ignore.
24k Markets are pretty open with all information regarding the account types, charges, fees, deposit and withdrawal options etc. It seems that 24k Markets is a great opportunity even if you’re a beginner or experienced trader. The platform could benefit from giving more information about the company’s background, and social media accounts, and perhaps showing their license and regulation. That’s very important to attract new traders and show them their legitimacy.
FAQ
You can trade Forex, commodities, indices, stocks, and cryptocurrencies at 24k Markets.
24k Markets doesn’t have a mobile app available, but you can use the platform through your mobile browser.
You can contact the customer support via email:[email protected], or by submitting a ticket.
The minimum deposit at 24k Markets for Bitcoin via Instacoins is $50, while with other methods it’s $10. The minimum withdrawal is $100.
