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24K Markets foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://my.24kmarkets.com/signup, about the company's legal and temporary regulatory information, the company's address Ground Floor, The Sotheby Building, Rodney Village, Rodney Bay, Gros-Islet, Saint Lucia..

24K Markets Forex Broker

Basic Information

Registered Region
Saint Lucia
Operating Period
--
Company Name
24 Markets Ltd
Abbreviation
24K Markets
Company employee
--
Customer Service Email Address
support@24kmarkets.com
Company Website
Company address
Ground Floor, The Sotheby Building, Rodney Village, Rodney Bay, Gros-Islet, Saint Lucia.
Keywords
1-2 years
Suspicious Regulatory License
Suspicious Scope of Business
High potential risk

Company profile

24K Markets Review SummaryFounded2023Registered Country/RegionSaint LuciaRegulationNo regulationMarket InstrumentsForex, Indices, Shares, Commodities, Futures, CryptosDemo Account✅LeverageUp to 1:500SpreadFrom 0.8 pips (Standard account)Trading PlatformTradeLockerMinimum Deposit$10Customer Support24/7 supportEmail: support@24kmarkets.comAddress: Ground Floor, The Sotheby Building, Rodney Village, Rodney Bay, Gros-Islet, Saint LuciaRegional RestrictionUSA24K Markets Information 24K Markets is a new broker founded in Saint Lucia 2023, offering kinds of trading instruments like Forex, Indices, Shares, Commodities, Futures and Cryptos. The minimum deposit is just $10.Pros and ConsPros Cons Various trading productsNo regulationMultiple account choicesRestriction in USADemo accounts availableNo MT4 or MT5Low minimum deposit of $10Only accept crypto depositsIs 24K Markets Legit? No. 24K Markets has no regulations currently. Please be aware of the risk!What Can I Trade on 24K Markets? 24K Markets offers trading instruments on Forex, Indices, Shares, Commodities, Futures and Cryptos.Tradable Instruments Supported Forex✔Indices✔Shares ✔Futures✔Cryptos✔Commodities✔Options❌Bonds❌ETFs❌Account Type/Leverage/Fees Now 24K Markets offers four account types and the minimum deposit is all $10.Account TypeMinimum DepositMaximum LeverageSpreadStandard$101:500From 0.8 pipsProFrom 0.4 pipsVARFrom 1.2 pipsMINIFrom 1.0 pipsTrading Platform 24K Markets offers their own application named TradeLocker.Trading PlatformSupported Available Devices Suitable forTradeLocker✔Mobile, PC/MT4❌/BeginnersMT5❌/Experienced tradersDeposit and Withdrawal Based on the limited information available on their website, we found that 24K Markets only accepts crypto deposits, such as Bitcoin, Ethereum, XRP, Litecoin, Dogecoin, and USDT.

Rating Index

MINI

Minimum Deposit
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VAR

Minimum Deposit
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How to login to 24K Markets?
24K MARKETS Complete Account Guide: Registration, Account Opening, and Login Processes Part One: Account Registration Process How to Register a 24K MARKETS Account The registration process for a 24K MARKETS account is designed to be straightforward, allowing users to quickly create their trading acc

  

24k Markets Forex Broker - Complete Information Guide

  

1. Broker Overview

  24k Markets is a relatively new forex broker established in 2023. The company operates under the name 24k Markets Ltd and is registered in Saint Lucia, with the company number 2023-00364. The registered office is located at Ground Floor, The Sotheby Building, Rodney Village, Rodney Bay, Gros-Islet, Saint Lucia. As a private company, 24k Markets aims to serve retail traders and institutional clients alike, providing a range of trading services across various financial markets.

  Since its inception, 24k Markets has focused on offering a user-friendly trading platform that caters to both novice and experienced traders. The broker has quickly gained attention in the forex trading community, although it lacks extensive background information and details about its leadership. This gap in transparency raises questions about its operational history and credibility.

  The primary business model of 24k Markets is retail forex trading, offering access to a diverse range of trading instruments, including forex pairs, stocks, commodities, indices, and cryptocurrencies. The broker aims to provide competitive trading conditions, including high leverage options and various account types to accommodate different trading styles and preferences.

  

2. Regulatory and Compliance Information

  Currently, 24k Markets is not regulated by any recognized financial authority, which raises significant concerns regarding its legitimacy and safety. The absence of regulatory oversight means that the broker does not have to adhere to established financial standards, nor does it offer the protections typically required by financial regulators.

  The company does not provide specific regulatory numbers or licenses, which further complicates its compliance status. Clients should be aware that trading with an unregulated broker carries inherent risks, as there is no official recourse if disputes arise.

  In terms of client fund protection, 24k Markets claims to implement measures to safeguard client funds, but detailed policies on fund segregation and investor compensation schemes are not disclosed. The broker adheres to basic Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance measures, requiring clients to verify their identities during the account registration process. However, the lack of regulatory oversight means that the effectiveness of these measures cannot be independently verified.

  

3. Trading Products and Services

  The 24k Markets broker offers a wide array of trading products across various asset classes. Traders can access 55 currency pairs, including major, minor, and exotic pairs, providing ample opportunities for forex trading. Additionally, the broker offers 38 cryptocurrencies, allowing clients to engage in the rapidly growing digital asset market.

  In terms of Contracts for Difference (CFD) products, 24k Markets provides access to indices, commodities, and stocks. The broker features 73 stocks from various global markets, enabling traders to diversify their portfolios. The range of commodities includes metals and energy resources, catering to traders interested in physical assets.

  The broker regularly updates its product offerings, although specific details on the frequency of these updates or newly added instruments are not provided. Retail trading services are available to individual clients, while institutional services are not explicitly mentioned in the available information.

  

4. Trading Platforms and Technology

  24k Markets utilizes the Trade Locker platform for trading, which is designed to be user-friendly and accessible across various devices. The platform does not support MetaTrader 4 (MT4) or MetaTrader 5 (MT5), which are popular among many traders. Instead, Trade Locker offers advanced features such as customizable charts, one-click trading, and various analytical tools to enhance the trading experience.

  The platform is web-based, allowing traders to access it from any device with internet connectivity. Although there is no dedicated mobile application for iOS or Android, the website is optimized for mobile browsing, enabling users to trade on the go.

  The execution model employed by 24k Markets is not explicitly stated, but it is implied that the broker utilizes a Straight Through Processing (STP) approach, ensuring that trades are executed at the best available prices without dealing desk intervention. However, details about server locations and the underlying technological infrastructure are not disclosed.

  

5. Account Types and Trading Conditions

  24k Markets broker provides several account types to cater to various trading needs. The available accounts include:

  • Standard Account: Offers spreads starting from 0.8 pips with a commission of $7 per lot.
  • Pro Account: Features tighter spreads from 0.4 pips and a commission of $8 per lot.
  • Var Account: A zero-commission account with spreads starting from 0.2 pips and no minimum order volume.
  • Mini Account: Designed for beginners, this account has spreads from 1.0 pips and a minimum order volume of $1 per lot.
  • Islamic Account: A swap-free account that complies with Sharia law, allowing for interest-free trading.

  All real account types at 24k Markets come with a leverage ratio of up to 1:500, enabling traders to control larger positions with smaller capital. The minimum trading lot size is 0.01, providing flexibility for traders to manage their risk effectively.

  

6. Fund Management

  When it comes to funding options, 24k Markets supports several deposit methods, primarily focusing on cryptocurrencies. The accepted deposit methods include:

  • Bitcoin
  • Ethereum
  • Litecoin
  • Ripple
  • Dogecoin
  • Tether (USDT)
  • USD Coin (USDC)

  The minimum deposit requirement is $10 for most methods, while deposits made via Instacoins require a minimum of $50. The processing times for deposits vary depending on the blockchain network, typically taking between 1-3 hours to reach the network and 3-6 hours for confirmation.

  For withdrawals, the only available method at present is Bitcoin, with a minimum withdrawal amount of $100. The processing time for withdrawals also depends on network traffic, and no withdrawal fees are charged by the broker, although clients may incur fees from their wallet providers.

  

7. Customer Support and Educational Resources

  24k Markets offers customer support through multiple channels, including email and support tickets. The support team is available 24/7, ensuring that traders can receive assistance whenever needed. The email address for customer support is support@24kmarkets.com.

  While the broker has a detailed FAQ section addressing common inquiries, it lacks comprehensive educational resources such as webinars, tutorials, or market analysis reports. This absence may be a drawback for novice traders seeking guidance and learning materials to enhance their trading skills.

  

8. Regional Coverage and Restrictions

  24k Markets primarily serves clients from various regions, although it does not accept customers from specific countries due to regulatory restrictions. The broker's services are not available to residents of:

  • 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

  While the broker's headquarters is in Saint Lucia, it is essential for potential clients to verify their eligibility to trade with 24k Markets based on their country of residence.

  In conclusion, while 24k Markets presents a range of trading opportunities and features, the lack of regulatory oversight and transparency may raise concerns for potential clients. Traders are encouraged to conduct thorough research and weigh the pros and cons before engaging with this broker.

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24K Markets Forex Broker has an overall rating of 1.28, Regulatory Index 0.00, License Index 0.00, Business Index 5.26, Software Index 4.00 Risk Control Index 0.00.
24K Markets