24K Markets Review

24K Markets joined the brokerage market in 2023. It provides four main accounts, a demo account, and it offers different trading products. You will find leverages of up to 1:500 and it uses the Straight Through Processing (STP) execution mechanism ensuring there’s no dealing desk manipulation and that every trade is executed at the best price. 

Not enough information is available about the company. It’s also unclear if the broker has a broker’s license or is regulated. The company is situated in Gros-Islet, Saint Lucia’s Rodney Bay.

24K Markets Pros and Cons

Is 24K Markets Secure?

24K Markets is not 100% secure. While it offers security features like two-factor authentication and has an SSL certificate, its licensing and regulation information is unknown. The reviews on different platforms like TrustPilot and TradersUnion cite the broker as a scam. Trading with unregulated brokers is risky because there’s no recourse if something happens.  

Markets and Products

You can trade Forex (major, minor, and exotic pairs), cryptocurrencies, stocks, commodities (energy and metals), and indices on 24K Markets.

Asset Type	Leverage
Forex	1:500
Cryptocurrency	1:100
Stocks	1:20
Commodities	1:200
Indices	1:200

24K Markets Fees and Charges

24K Markets is transparent about its commissions and fees. It doesn’t charge any withdrawal fees, but your crypto wallet may charge a fee. 

Deposit Option	Fee
Bitcoin: 0%	0%
Bitcoin via Debit/Credit Card:	0%
Cryptocurrencies (USDT/DOGE/ETH/LTC/USD Coin/Ripple)	2.5%

24K Markets commissions depend on the instrument you trade. Each asset has a commission fee per lot.

Asset	Commission (Per lot)
Cryptos	$10
Energies	$8
Standard Forex	$7
Mini Forex	$1
Forex Pro	$8
EU Shares	$8
US Shares	$8
Indexes	$7
Mini Indexes	$8
Metals	$10

24K Markets Account Types & Account Opening

24K Markets has five trading accounts, designed for the different experience levels. Three are on its main page and two are included in its FAQ page.

Standard Account: Provides direct access to liquidity providers, has competitive pricing, and is best for fast executions. You can trade all major currency pairs (Forex), commodities, indices, and select cryptocurrencies.

Pro Account: The Pro account includes tighter spreads and $8 per lot.

Var Account:  This is a zero-commission account suitable if you prefer fee-free transactions. It has wider spreads. You can trade assets like major currency pairs (Forex), commodities, indices, and select cryptocurrencies.

Islamic Account: You can trade according to Islamic principles and trade major currency pairs (Forex), commodities, and indices. It provides interest-free trading and no swap fees for overnight positions. 

Mini Account: This account is for those who prefer smaller trade sizes, reducing risk exposure. You can trade major currency pairs (Forex) and some commodities.

24K Markets also has three Demo accounts for beginners who want to learn and practice:

• Risk-Free Account with real market conditions.
• Practice Account for perfecting your trading strategies.
• Learn Account for no string-trading.

How to Open an Account

You can open an account at 24K Markets in a few steps:

• Click the “Sign up” Button in the top right corner of the page
• Fill in your basic information, agree to the T&Cs, and click “Sign Up”.

You will receive an email to complete your account registration. Fill in any additional credentials and finish setting up. You will be prompted to secure your account with two-factor authentication using SMS, email, or an Authenticator Application.

Trading Platforms

24K Markets uses TradeLocker as its trading platform. TradeLocker has innovative and advanced features such as account customization, one-click trading, and a style switcher when charting. 24K Markets includes various articles on how to use the platform in its FAQ page. 

Mobile Trading Platform

24K Markets doesn’t include a mobile application for trading but you can still comfortably trade using your mobile device. 

Web Trading Platform

There is no WebTrading platform on 24K Markets. 

Desktop Trading Platform

24K Markets has no desktop trading platform.

24K Markets Research Tools & Educational Content

24K Markets currently doesn’t have any resource materials or educational content. 

Customer Service Overview

You can reach the 24K Markets customer support  in two ways:

• Via email: support@24Kmarkets.com
• Submitting a ticket by clicking the ” New Support Ticket” button in the top right corner of the FAQ section.

24K Markets Deposit and Withdrawals

24K Markets offers various deposit and withdrawal methods. 

Deposit Methods

All deposits have different processing times, depending on the blockchain network. Processing can take 1-3 hours to reach the blockchain network and 3-6 hours to be confirmed. Deposit methods available include:  

• Bitcoin (BTC) 
• Ethereum (ETH) 
• Litecoin (LTC) 
• Ripple (XRP) 
• Dogecoin (DOGE) 
• Tether (USDT) (TRC-20) 
• USD Coin (USDC) (BEP-20/TRC-20) 
• Bitcoin via Instacoins

The minimum deposit amounts for Ripple (XRP), USDT (Tether), USDT (TRC20), USD Coin (TRC20), Dogecoin (DOGE), Litecoin (LTC), Ethereum (ETH), and Bitcoin (BTC) is $10 and for Bitcoin via Instacoins is $50. There is no maximum deposit amount. 

Withdrawal Methods and Payout Times

24K Markets offers Bitcoin, USDT, and PayRedeem as withdrawal methods. The minimum withdrawal amount is $100 for each and there is no maximum withdrawal limit. 

24K Markets Online User Reviews and Ratings

24K Markets has only 5 reviews on Trustpilot, all of which are negative calling it a scam. 

Author Opinion on 24K Markets

In 2023, 24K Markets joined the market. Through its four accounts, it provides trading instruments such as cryptocurrency, indices, and forex. It offers a leverage of up to 1:500, no withdrawal fees, and limited minimum deposit requirements. Its sole trading platform is TradeLocker, and it is open about its spreads and commissions. You can utilize its three demo accounts to explore and experiment with the platform.  Since there is little knowledge about the company’s background, licensing, and regulation, trading with this broker is risky. 

Frequently Asked Questions

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