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24markets Spreads, leverage, minimum deposit Revealed

WikiFX | 2025-04-29 11:17

Abstract：　24markets is a South African-based online trading brokerage firm that offers trading services in various financial instruments including forex, shares, indices, commodities, and cryptocurrencies. The broker provides traders with several trading account options, including ECN accounts with competitive trading conditions, such as low spreads and commissions, and high leverage of up to 1:300. The broker also offers educational resources, market analysis, and customer support services. However, the broker's limited payment options and lack of regulatory oversight are a concern.

24markets Review Summary
Founded	2014
Registered Country/Region	South Africa
Regulation	Suspicious clone
Market Instruments	Forex, Commodities, Crypto, Indices, Stocks, CFDs
Demo Account	❌
Leverage	Up to 1:500
Spread	From 1.5 pips (EUR/USD, Discovery account)
Trading Platform	WebTrader, MetaTrader 5 (MT5), Mobile App
Min Deposit	$100
Customer Support	Email：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.

Pros and Cons

Pros	Cons
Offers MT5 and a web platform	Cloned license
Multiple account types with tiered benefits	Demo and Islamic accounts not available
Supports Forex, stocks, crypto & more	Limited 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 by	South Africa – Financial Sector Conduct Authority (FSCA)
Licensed Institution	DEDA CAPITAL MARKETS (PTY) LTD
Licensed Type	Financial Service Corporate
Licensed Number	50640

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 Instruments	Supported
Forex	✅
Commodities	✅
Crypto	✅
CFD	✅
Indexes	✅
Stock	✅
ETF	❌

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 Type	Min Deposit	Key Features	Best For
Discovery	$100	1.5 pip spreads, up to 100:1 leverage, no priority support, some education tools	Beginners
Prime	$5,000	0.8 pip spreads, up to 300:1 leverage, 3 swap-free days, 3x weekly rep meetings	Intermediate traders
Master	$20,000	0.3 pip spreads, up to 500:1 leverage, 7 swap-free days, full VIP features	Advanced/professional traders

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 Type	EUR/USD Spread (From)	Commission
Discovery	1.5 pips	$0
Prime	0.8 pips	$0
Master	0.3 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

Trading Platform

Trading Platform	Supported	Available Devices	Suitable 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, iOS	Advanced traders needing analytical tools and multi-asset access
Mobile Trading App	✔	iOS, Android	Traders who prefer on-the-go access and mobile convenience
MetaTrader 4 (MT4)	❌	–	Not supported

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 Options	Min. Deposit	Fees	Processing Time
Bank Wire Transfer	$100	May vary by provider	Few minutes to a few hours
Credit/Debit Cards	$100	May vary by provider	Few minutes to a few hours
E-wallets	$100	May vary by provider	Few minutes to a few hours
Online Payment Methods	$100	May vary by provider	Few minutes to a few hours