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24markets -

Score

1.37 /10
Danger

24markets

South Africa

2-5 years

Suspicious Regulatory License

Suspicious Scope of Business

Suspicious Overrun

High potential risk

https://24markets.com

Influence

C

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Comparison

Quantity 1

Exposure

Open Account
Website

Score

Regulatory Index0.00

Business Index5.91

Risk Management Index0.00

Software Index4.00

License Index0.00

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Website

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

open now

Regulatory disclosure

Danger

ES CNMV
2024-04-08
CNMV ISSUES WARNING TO THE PUBLIC ON UNREGISTERED FIRM
24markets

Broker Information

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Company Name

DEDA CAPITAL MARKETS (PTY) LTD

Company Abbreviation

24markets

Platform registered country and region

South Africa

Company website

X

Facebook

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WhatsApp

  • 447827398835

Company summary

Pyramid scheme complaint

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Warning: Low score, please stay away! 3
Previous Detection : 2025-05-03
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The South AfricaFSCA regulation (license number: 50640) claimed by this broker is suspected to be clone. Please be aware of the risk!

WikiFX Verification

Exposure

1 pieces of exposure in total
Pyramid scheme complaint
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24markets · Company summary
24markets Review Summary
Founded2014
Registered Country/RegionSouth Africa
RegulationSuspicious clone
Market InstrumentsForex, Commodities, Crypto, Indices, Stocks, CFDs
Demo Account❌
LeverageUp to 1:500
SpreadFrom 1.5 pips (EUR/USD, Discovery account)
Trading PlatformWebTrader, MetaTrader 5 (MT5), Mobile App
Min Deposit$100
Customer SupportEmail：support@24markets.com
Phone：+27 101 577 500 (Available 24/5)
WhatsApp
Live chat

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.

24markets Information

Pros and Cons

ProsCons
Offers MT5 and a web platformCloned license
Multiple account types with tiered benefitsDemo and Islamic accounts not available
Supports Forex, stocks, crypto & moreLimited information of swap and inactivity fees

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.

Regulatory Status Suspicious clone
Regulated bySouth Africa – Financial Sector Conduct Authority (FSCA)
Licensed InstitutionDEDA CAPITAL MARKETS (PTY) LTD
Licensed TypeFinancial Service Corporate
Licensed Number50640
Is 24markets Legit?

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.

Tradable InstrumentsSupported
Forex✅
Commodities✅
Crypto✅
CFD✅
Indexes✅
Stock✅
ETF❌
What Can I Trade on 24markets?

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.

Account TypeMin DepositKey FeaturesBest For
Discovery$1001.5 pip spreads, up to 100:1 leverage, no priority support, some education toolsBeginners
Prime$5,0000.8 pip spreads, up to 300:1 leverage, 3 swap-free days, 3x weekly rep meetingsIntermediate traders
Master$20,0000.3 pip spreads, up to 500:1 leverage, 7 swap-free days, full VIP featuresAdvanced/professional traders
Account Types

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.

Account TypeEUR/USD Spread (From)Commission
Discovery1.5 pips$0
Prime0.8 pips$0
Master0.3 pips$0

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

Non-trading Fees
Deposit Fee Varies by payment method and bank; some may incur third-party processing fees
Withdrawal Fee May apply depending on withdrawal method or expedited request
Inactivity Fee Not mentioned
Non-Trading Fees

Trading Platform

Trading PlatformSupportedAvailable DevicesSuitable for what kind of traders
WebTrader✔Web browser (desktop/mobile)Traders looking for intuitive, real-time web-based trading
MetaTrader 5 (MT5)✔Windows, macOS, Android, iOSAdvanced traders needing analytical tools and multi-asset access
Mobile Trading App✔iOS, AndroidTraders who prefer on-the-go access and mobile convenience
MetaTrader 4 (MT4)❌–Not supported
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

Deposit OptionsMin. DepositFeesProcessing Time
Bank Wire Transfer$100May vary by providerFew minutes to a few hours
Credit/Debit Cards$100May vary by providerFew minutes to a few hours
E-wallets$100May vary by providerFew minutes to a few hours
Online Payment Methods$100May vary by providerFew minutes to a few hours
Deposit and Withdrawal

User Reviews

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User comment

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Comments

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Jenniee
more than one year
24markets is the real deal! Their maximum leverage is impressive, giving traders the power to make the most of their capital. And their customer service is second to none, always available and eager to help. Very satisfied with my experience so far!
24markets is the real deal! Their maximum leverage is impressive, giving traders the power to make the most of their capital. And their customer service is second to none, always available and eager to help. Very satisfied with my experience so far!
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2024-07-12 17:49
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FX1492746351
more than one year
Joined 24markets recently and have mixed feelings. The platform is user-friendly with tight spreads and the customer service is responsive. However, the registration process was a bit cumbersome due to strict security measures, and I noticed they don't offer ETFs, which was a letdown.
Joined 24markets recently and have mixed feelings. The platform is user-friendly with tight spreads and the customer service is responsive. However, the registration process was a bit cumbersome due to strict security measures, and I noticed they don't offer ETFs, which was a letdown.
Translate to English
2024-06-17 16:18
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