24markets

24markets Information

24markets is a South Africa-based broker launched in 2014, offering CFDs on Forex, indices, commodities, stocks, and crypto. While it features a range of platforms including MT5 and web-based trading, it falsely claims FSCA regulation under another companys license.

Pros and Cons

Is 24markets Legit?

The broker claims to be regulated by FSCA using license No. 50640, which actually belongs to DEDA CAPITAL MARKETS (PTY) LTD. However, the brokers name and domain do not match the licensed entity, clearly indicating a fake or cloned license intended to mislead users.

What Can I Trade on 24markets?

24Markets offers a wide selection of CFD trading instruments, including dozens of Forex pairs, over 10 global indices, major commodities, and popular cryptocurrencies. While stocks are supported, ETFs are not mentioned.

Account Types

24Markets offers three live account types: Discovery, Prime, and Master. Each suits different trading levels—from beginners to professionals—with increasing benefits like tighter spreads, higher leverage (up to 1:500), and VIP services.

Leverage

24Markets offers dynamic leverage of up to 1:500, depending on the account type. While high leverage can increase profits with little capital, it also increases the danger of significant losses without appropriate risk management.

24markets Fees

Compared to industry standards, 24Markets trading fees are moderate to slightly high, especially for entry-level accounts. While spreads decrease with higher-tier accounts, the absence of transparent commission and swap rate details limits cost comparison for advanced traders.

Spreads: Start from 1.5 pips on the Discovery account and go as low as 0.3 pips on the Master account.

Commissions: No commissions are stated across all account types.

Swap Rates: Swap-free trading is available for up to 7 days on higher-tier accounts. Exact overnight swap fees are not publicly disclosed.

Non-Trading Fees

Trading Platform

Deposit and Withdrawal

24markets does not charge fixed deposit or withdrawal fees itself, but third-party processors or banks may apply charges depending on the method and location. The minimum deposit required to open an account is $100.

Deposit Options