24k Markets is a new Forex broker. There is not much information about the company in general or the CEO. One of the things that is known is that it’s operated by 24k Markets Ltd, with the company number 2023-00364. The company is in Rodney Bay, Gros-Islet, Saint Lucia.
- Easy-to-use platform
- Customer support is available 24/7
- Islamic accounts
- Numerous trading assets
- Broker doesn’t seem regulated
- Lack of information about the company
- No user reviews
Is 24K Markets Safe?
Sadly, 24K Markets has little to no information about whether they are safe or not. Trustpilot and Reddit have no reviews for this broker. Scamadviser rates it with only 1 point. The reason behind that can be the fact that this domain is only 9 months old. You should research thoroughly and decide if this broker is for you.
| Feature | Details |
|---|---|
| Country of regulation | Not regulated |
| Minimum deposit amount | $10 |
| Available currencies | USDT/DOGE/ETH/LTC/USD Coin/Ripple |
| Bank card deposits | Not available |
| E-wallet deposits | Not available |
| Time to open an account | Instant |
| Demo account available | Yes |
| Products offered | Forex, Indices, Cryptocurrencies, Commodities, Stocks |
24K Markets Commissions and Fees
One of the best things about 24K Markets is their transparency about the fees. You can find nearly everything about the fees and commissions in the FAQ section. Check out this table for each asset and the commission per lot:
| 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
| Payment option | Fee |
|---|---|
| Bitcoin | 0% |
| Bitcoin via Debit/Credit Card: | 0% |
| Cryptocurrencies (USDT/DOGE/ETH/LTC/USD Coin/Ripple) | 2.5% |
24K Markets Account Options & Account Opening
There are 5 account types you can choose from at 24K Markets, Standard, Pro, Var, Islamic and Demo. Each of them is tailored to your levels of experience.
The leverage for 4 is up to 1:500. Spreads vary from 0.2 pips to 0.8 pips. The order volume varies from none to $8 per lot.
When it comes to demo accounts, there are three to choose from, Risk free, Practice, and Learn.
Islamic accounts are swap-free accounts meant for those who want to trade with Sharia Law. You’ll have all the features available like in any other account.
| Account Type | Available |
|---|---|
| Demo Account | Yes |
| Islamic Account | Yes |
| Standard Account | Yes |
| Pro Account | Yes |
| Var Account | Yes |
| Suitable for Beginners | Yes |
| Suitable for Professionals | Yes |
| Us Trader | No |
How to Open an Account
You can create an account at 24k Markets in a few steps:
- Click the “Sign up” Button in the top right corner of the page
- Read and agree to the terms & conditions
- Fill in the needed information
- Click “Sign up”
- After you receive an email click tap the “Complete sign up” option
- Fill in the additional information
- Click “Create Your Account” button, and you’re done
Secure your account with two-factor authentication. You can enable it either with SMS, email, or Authenticator Application.
Trading Platforms
You can trade on 24K Markets via the TradeLocker platform. If you need any information about the platform and how to use it, there’s a tutorial in the FAQ section.
Mobile Trading Platform
There is no separate mobile app you can download and trade on 24K Markets. Luckily, that doesn’t mean you can’t trade using your phone. The website is totally compatible with mobile devices, so you can enjoy trading on the go.
Trading Education Resources
24K Markets doesn’t offer educational content. This is not beginner-friendly, but it doesn’t mean there won’t be any educational content in the future
Customer Support
To reach out for support with 24K Markets, you have two options. Firstly, in the FAQ section, click on “Submit a ticket” to fill out a short form, and they’ll respond as soon as possible. Alternatively, you can send an email directly to [email protected].
24K Markets Deposit and Withdrawals
When it comes to deposit methods, 24K Markets offers a couple. You can use Bitcoin, Litecoin, Ripple, Dogecoin, Tether (USDT) (TRC-20), USD Coin (USDC) (BEP-20/TRC-20), Bitcoin via Instacoins. The minimum deposit for all of them is $10, except Bitcoin via Instacoins which is $50. The maximum deposit is not limited.
Currently, only one withdrawal method is available, Bitcoin. 24K Markets noted that they’re working hard on adding more options for their customers. The minimum amount you can withdraw is $100. All the processing times vary for every deposit because of the Blockchain Network.
Opinion
24K Markets appears to be an interesting new broker. They offer instruments across markets. Unfortunately, there are no real user reviews that can give a better understanding of 24K Markets. Scamadviser rates this site as risky and spam too. It’s important to mention that we can’t rely on these scanning sites 100% because this is a new broker.
24K Markets seems to be very clear about the fees, accounts, payment options etc. This gives hope that they are truly reliable and that they just need more work done. 24K Markets needs to be more open about the company’s background, license and reliability. They look like a great opportunity for both experienced and new traders, but as always you need to be careful.
Frequently Asked Questions
Can I trust 24K Markets?
There is no information whether 24K Markets is trusted, regulated and licensed.
What is the minimum deposit at 24K Markets?
The minimum deposit is $10.
How long is 24K Markets withdrawal?
The withdrawal time depends on the traffic of the network that is being used.
Which broker is better than 24K Markets?
This depends on individual preferences. Two brokers that can be an alternative to 24K Markets are AvaTrade and OspreyFX with their features and trading styles.
How much commission does 24K Markets take?
Commissions depend on the instruments being traded.
