As can be seen, 24k Markets brokerage has been operating under the ownership of 24 Markets Ltd. This firm was registered in Saint Lucia in 2023, which can be confirmed through their domain registration in May 2023.
However, this country is known as a nest for swindlers. Therefore, we invite you to read this 24k Markets review carefully and prepare yourself for what’s coming if you trade with this firm.
| Regulated By: | No Regulations |
| Is This Company Safe? | No |
| Known Websites: | |
| Have Warnings From: | N/A |
| Registered In: | Saint Lucia |
| Operating Since: | 2023 |
| Trading Platforms: | WebTrader |
| Maximum Leverage: | 1:500 |
| Minimum Deposit: | N/A |
| Deposit Bonus: | N/A |
| Trading Assets: | Cryptos, forex, indices, shares, commodities |
| Free Demo Account: | Available |
| How To Withdraw From This Company? | If you want to withdraw funds from this offshore unregulated broker you better prepare your nerves. But don’t hesitate to contact our chargeback experts at first sight of a problem. |
Legal Info: Is 24k Markets Legit Or A Scam?
If you are into trading, you better make sure to trade with licensed brokers. Otherwise, you won’t have funds protection features like guaranteed stop loss, negative balance protection, and compensation schemes. And the best options out there that offer these are companies with FCA, BaFin, ASIC, CFTC, or similar regulations.
Unfortunately, none of these registers hold records of 24k Markets being regulated. Which means none of their features can be truly trusted.
Who Are 24k Markets’s Victims?
Since 24k Markets reviews don’t exist practically, we’ll have to rely on the website traffic to see their targeting areas. As it seems, they have been mainly targeting victims from:
- Saudi Arabia
- United Kingdom
- United States
- Canada
You will realize these are mostly top-tier regulated countries. And what makes this broker comply with those regulations? Literally nothing. The same thing that traders can recognize about Layray brokerage as well.
Nevertheless, if any of these got your money, let our refund specialists know more about your case.
Leverage, Commissions, Spreads, Fees and Taxes
All in all, the company’s conditions will remain questionable no matter what they present you with. In a nutshell, the company’s spreads start from 0.2 pips with commissions from $7 per lot.
In addition to that, there’s leverage not complying with any top-tier regulations of up to 1:500. Unfortunately, other fees are not disclosed. So, after completing the 24k Markets login procedure, be prepared for anything.
Bonuses
In general, scam brokers often tend to offer bonuses and prevent traders from withdrawing funds with their shady clauses. Luckily, 24k Markets withdrawal won’t be delayed because of that. At least, that’s what we believe since T&Cs don’t reveal any bonus policies.
24k Markets Trading Features
The company’s main benefits are STP execution, advanced trading technology, and secure trading services. Thus, none of this can be confirmed since the company hasn’t built any reputation so far.
But with their platform, we highly doubt there’s anything advanced about it.
Trading Platforms Available
The broker advertises features that can be trusted if the company uses cTrader or Meta Trader. These are proven third-party platforms mainly used by legitimate brokerages.
Sadly, this investment firm didn’t opt for those. Instead, you’ll have to use their web-based platform. But that’s not the smartest move if you know the company is registered offshore and operates without regulation.
Available Trading Assets
As can be seen, the company has been offering a wide range of assets from all major categories. But the fact is that without a license, none of that matters. Especially when you know that you can get all that and much more from licensed firms.
Anyway, traders will have available options like:
- Forex – USD/CAD, USD/JPY
- Cryptos – ETH, DOT, ADA
- CFDs – Nikkei225, ASX200
Account Types
Overall, the account types only differ in spreads and commissions, while the leverage is the same for all. But to be fair, that’s all you need. Unfortunately, minimum deposit requirements for any of those are not disclosed.
Anyway, you may choose between:
- Standard – Spreads from 0.8 pips / $7 commission per lot
- PRO – Spreads from 0.4 pips / $8 commission per lot
- VAR – Spreads from 1.2 pips / $0 commission per lot
Mobile Trading App
With the rising popularity of social and copy trading features, mobile apps gained huge importance in the trading world. Thus, this broker is not one of those who opted for something that important.
Instead, you’ll have to enjoy all the trouble of trading on a mobile via a browser.
Demo Account
On the positive side, a rare one, a 24k Markets demo account is available. Therefore, before investing any money with them, you can explore all their features.
But also, we suggest you check a demo account of any top-tier licensed firm and recognize the difference. Also, check our Intrafund review if you want to find more useful tips on avoiding fraud.
Education
Since part of the deal involves 24k Markets Bitcoin trading and insanely high leverage, traders should have adequate education about it. But if you ask this broker, they will tell you you don’t need it. They’ve got you covered. They offer education through the 24k Markets affiliate program, where they will guide you on how to bring them more victims.
24k Markets Withdrawal
Unfortunately, the only relevant information provided about the withdrawal is the processing time of up to 5 business days. It appears that withdrawal methods available are credit card or bank account, and it takes an additional three days for the funds to arrive. But we highly doubt there will be any since the company mainly promotes crypto payments.
But of course, there’s a catch. Customers may be required to present additional information and documents during the process. Not to mention that withdrawal fees are not disclosed. So, be careful.
Customer Support
When you see only a web contact form available with a broker, you know there’s something shady happening. Apparently, their support is available 24/7. But in general, that would mean they are available for immediate response. Thus, with the contact form, response time will mostly depend on your request.
Key Information To Consider About 24k Markets
To sum it up, there’s no reason to trust this brokerage at all. Firstly, they are offshore registered and operate without regulations. Secondly, they are using untrusted trading software and offer highly risky conditions. All in all, not a safe place for your money.
But if they got you on board somehow, we suggest you request a withdrawal immediately. If any problem occurs, don’t hesitate to contact our refund team for consultation.
FAQ Section
What is 24k Markets?
24k Markets is a brokerage registered in Saint Lucia under the name 24 Markets Ltd, which offers FX and CFD trading services worldwide.
Is 24k Markets Legit?
No. 24k Markets broker is not authorized by any trusted authority to provide services in their country.
What is a Chargeback?
Chargebacks can be considered all reversed card transactions that have been done after dispute resolution. Yours can be started today. Simply contact our chargeback team.
Source:
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