24K Markets is a new Forex Broker established in 2023. The company’s information regarding the regulation status and background is unknown. It’s operated by 24K Markets Ltd, with the company number 2023-00364 in Saint Lucia.
Payment Options
You can use Bitcoin, Ethereum, Litecoin, Ripple, Dogecoin, Tether, USD Coin, and Bitcoin via Instacoins as deposit options. For withdrawal Bitcoin only. The minimum deposit amount is $10 except Bitcoin via Instacoins which is $50. The minimum amount for withdrawing your funds is $100.
Deposit Process:
Step 1: Make sure you have a live verified account.
Step 2: Initiate a Deposit request:
- Log in to your account
- Go to the deposit section
- Choose your deposit method
- Enter the wanted deposit amount
- Confirm
Step 3: The bonus points will be credited to your bonus wallet.
Step 4: Redeem bonus points into withdrawable cash. You can do that by performing trades.
Step 5: This step is optional. You can change your credited account for bonus points. If you want to do that, just:
- Go to the settings section
- Find the drop-down menu that allows you to select the trading account to receive the bonus points.
- You can modify this at any time.
Withdrawal Process:
- Click on the “Withdraw” button.
- Select the withdrawal type and wallet you want.
- Enter the withdrawal amount and click “Request Withdrawal”.
- Enter your crypto address.
- You will receive an email confirmation.
- You’re done.
Account Types and Their Features
24K Markets offers various account types. Besides the four distinct accounts, there are three demo and Islamic accounts you can choose from.
Each of the real account types feature different spreads and order volumes per lot. What they do have in common is that all of them offer leverage up to 1:500. This means you’re able to open bigger trades with less money.
| Account Type | Spread | Leverage | Order Volume |
|---|---|---|---|
| Standard Account | From 0.8 pips | Up to 1:500 | Lot $7 |
| Pro Account | From 0.4 pips | Up to 1:500 | Lot $8 |
| Var Account | From 0.2 pips | Up to 1:500 | No |
| Mini Account | From 1.0 pips | Up to 1:500 | Lot $1 |
The three demo accounts offer different types of environments for beginners. The Risk-Free account has zero risk and real market conditions. The Practice account is a great opportunity for practicing before profits with demo trading. The Learn account is a no-string trading account.
If you wish to trade with the Sharia Law, there’s also an Islamic Account as an option. All the available instruments on the regular account are also available on the Islamic one.
Customer Support and Assistance
The availability of the 24K Markets customer support is 24/7. There are two ways you can get in touch with the support team, and that’s via email and by submitting a ticket.
Trading Instruments
24K Markets offers you several trading instruments like Forex, stocks, commodities, indices, and Cryptocurrencies.
- Stocks – Various global stocks for traders to participate in different equity markets.
- Indices – Opportunity to trade on major global indices.
- Commodities – Metals and Energy resources
- Forex – You can trade forex, major, minor, and exotic currency pairs.
- Cryptocurrencies
Fees And Commissions
24K Markets doesn’t charge any withdrawal fees. Your personal wallet will charge you fees, but the broker is not responsible for them. If you wish to withdraw via Crypto, there will be charges that are based on the network you use. Here’s a table of different assets and the commission fee per lot for each:
| Asset | Commission Fee (per lot) |
|---|---|
| Cryptos | $10 |
| Metals | $10 |
| Energies | $8 |
| EU Shares | $8 |
| Forex Pro | $8 |
| Mini Indexes | $8 |
| US Shares | $8 |
| Indexes | $7 |
| Standard Forex | $7 |
| Mini Forex | $1 |
| Transaction Fees | |
|---|---|
| Bitcoin | 0% |
| Bitcoin via Debit/Credit Card: | 0% |
| Cryptocurrencies (USDT/DOGE/ETH/LTC/USD Coin/Ripple) | 2.5% |
Bonus and Promotions
No bonuses or promotions are active or available on the 24K Markets site.
Verdict
24K Markets emerges as an intriguing newcomer in Forex brokerage. It offers trading instruments across diverse markets. There are no real user reviews, and the site is scanned risky. Also, the regulation status of 24K Markets is unknown, leading to potential risks if you wish to use this broker.
They seem to be pretty transparent about their fees, accounts, charges, commissions, payment options etc. This could be a good sign that they’re working on showing more information about the company to the public. It seems that this broker has room for improvement, and that they might actually be a great opportunity for traders of all levels of experience.
FAQ
How much commission does 24k Markets take?
Commissions depend on the instruments being traded.
How long does it take to withdraw funds at 24K Markets?
The withdrawal time depends on the traffic of the network that’s being used.
What country is 24K Markets registered in?
The registered company is registered in Saint Lucia.
What is the minimum deposit at 24K Markets?
The minimum deposit is $10.
What types of tradable assets are available at 24k Markets?
Forex, commodities, indices, stocks, and cryptocurrencies.
I highly suggest you do not trade with these people. I traded positively one night and was $700 when I went to bed. When I woke up my account was $900 less due to “an instrument pricing error in US30”. They said that them making this change (after all the trading was closed and done) was within policy and offered no compensation.. at all.. would not even bring my account back to what it was before their “bug” started. Basically they can remove funds at whim and call it a bug… i would not chance it.