24K Markets, operated by 24 Markets Ltd in Saint Louis, is a recently established forex 24K Markets. They’re a great option for both experienced and new traders, because of the low $10 deposit amount, several account type options, and an easy-to-use platform TradeLocker.
24K Markets Summary
| Criteria | Information |
|---|---|
| Country of regulation | Not regulated |
| Minimum deposit amount | $10 |
| Available currencies | Crypto |
| Bank card deposits | N/A |
| E-wallet deposits | N/A |
| Time to open an account | Instant |
| Demo account available | Yes |
| Products offered | Forex, Indices, Cryptocurrencies, Commodities, Stocks |
Our Expert Opinion on 24K Markets
24K Markets stands out for its low minimum deposit and extensive range of trading instruments. The leverage options are set at 1:500 across all accounts, so you can maximize your investment potential.
The suspicious regulation status of 24K Markets is a huge downside if you want to trade safely. You should do a detailed research and decide whether this broker is for you or not.
24K Markets Benefits and Downsides
24K Markets offers remarkable benefits like: low minimum deposit, many trading assets, and several account types including Islamic account. The things that can be considered drawbacks are: Lack of general information, no educational resources, and questionable regulation status.
24K Markets Trustworthiness and Safety
24K Markets’s regulation status is unknown. Trading with an unregulated 24K Markets carries many risks. If you encounter any problems, there are no official organizations you can complain to.
Market Access and Investment Options
24K Markets offers market access across Forex, 38 Cryptocurrencies, over 70 Stocks, Commodities, and Indices. Each of the assets has different commission fees 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 |
Account Types and Options
| 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 |
How to Open an Account
You can secure your 24K Markets account with two-factor authentication. You also have the option to activate two-factor authentication, which you can do through an Authenticator Application, SMS, or Email. Opening an account is a straightforward process that contains a few steps:
- Click the “Sign up” Button on the top right
- Read and agree to the terms & conditions
- Fill in the required information
- Then 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
Trading Platforms
You can only use the TradeLocker platform to trade on 24K Markets. TradeLocker has features like screenshots and customization of your chart, and also one-click trading. If you want a modern platform that’s available on all web browsers and devices, then this platform is for you.
Who is The 24K Markets for?
24K Markets is good for many types of traders. The $10 deposit makes it ideal for beginners who don’t want to spend a lot of money. The TradeLocker platform is great for both experienced and new traders. There’s also room for the more experienced traders that want tighter spreads and 1:500 leverages.
Customer Support
One of the 24K Markets strengths is the 24/7 customer support availability. You can contact the support team whenever you like via email: [email protected], or by submitting a ticket. They have a huge and detailed FAQ section. There is a chance you already have an answer to your questions there. Make sure you check the FAQ before reaching out to the support.
24K Markets Deposit and Withdrawal Options and Processing Times
24K Markets says that they’re working hard on adding more deposit and withdrawal options. All the processing times vary on the Blockchain Network.
Deposits
The available depositing methods at 24K Markets are:
- Bitcoin
- Ethereum
- Litecoin
- Ripple
- Dogecoin
- Tether
- USD Coin
- Bitcoin via Instacoins
The minimum deposit for all of them is $10, while Bitcoin via Instacoins has a slightly bigger amount that’s $50.
Withdrawals
For now, the only withdrawal option at 24K Markets is Bitcoin. The smallest amount you can withdraw is $100.
Top-Ranked 24K Markets Alternatives
Choosing an alternative broker depends on personal preferences. Plus500 stands out with its wide range of CFDs and the simplicity, while the IG 24K Markets provides a huge number of instruments and research tools. Whenever a 24K Markets is a good alternative for you depends what you’re searching for and what you prefer.
The Bottom Line
If you put the questionable regulation status aside, 24K Markets is a great forex 24K Markets. The user-friendly platform, low minimum deposit, account types, and the number of tradable instruments really makes it stand out.
The platform is less than a year old so there is a lot to improve. They could work on the transparency regarding the company’s background, the CEO, and regulation status. Research tools and educational content is crucial for new traders, and even the more experienced ones that seek advice on strategies.
Frequently Asked Questions
Can I trust 24K Markets?
The regulation status of 24K Markets is unknown, so trading with this 24K Markets can be risky.
What is the minimum deposit at 24K Markets?
The minimum deposit is $10.
How long is 24K Markets withdrawal?
The time frame for withdrawal depends on the traffic of the network that’s used.
Which 24K Markets is better than 24K Markets?
Comparing 24K Markets depends on personal preferences. Plus500 and IG can be an alternative if their unique features are something you’re looking for.
How much commission does a 24K Markets take?
The commissions depend on the instruments being traded.
24K was great initially. I was learning how forex trading works and trying different things. I was on a positive gain streak one night (up about $700) bringing my totals to $1050 and then I went to bed. I woke to find that I only had $150 in my account. Support says this was due to “incorrect pricing on the US30 instrument” and therefore “corrected” all of trades and left me losing $200 rather than making $700 ($900 swing!). I put in a support ticket and the result of this was that what they did was within policy and basically good luck. I would have been content if they at least brought me back to $350 which is where I was before the “bug”. I would think hard about putting money into a company like this.