Is 24 Capital Markets legit? A question that many FX traders ask

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Picking the right Forex broker requires you to invest time in doing some research. In our 24CM Forex broker review, we take a look at the features which the brokerage firm has and which you should consider when deciding whether to go with them or not. For starters, 24CM broker is a pretty new FX broker having opened its doors to the world in July 2018.
24 capital markets logo
Min. Deposit: $250         Demo: Yes

Platform: Custom            Bonus: N/A

Regulation: N/A                US Clients: Yes

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Basic information about 24CM Forex broker

Basic information about 24CM Forex broker

When you visit the 24CM website, you will see that the broker is owned and operated by F1Markets Limited which is a Cyprus Investment Firm. F1Markets Ltd official offices are on Kolonakiou Avenue 43, 4103 Agios Athanasios Limassol, Cyprus. In this 24CM forex broker scam review, we will look into the license details among other features which should help you determine whether the broker is legit or not.

The license details of 24CM

Like many Forex FX brokers today, 24CM has proudly displayed its license details on its homepage. F1Markets Ltd which owns and operates the brokerage website is licensed by CySEC and the license number is 267/15. CySEC happens to be one of the most credible financial regulatory bodies in the world.

The license details of 24CM

Upon further reading of the licensing details, you will realize that another company called IOS Investments Limited also uses the 24CM brand. The later named company is licensed and regulated by the International Financial Services of Belize. It is designed to serve all the 24CM clients who reside outside the European Economic Area. But as you may already know, Belize does not have a sparkling reputation in as far as tax evasion and financial laws are concerned.

How is the trading platform of the broker?

‘Is 24CM Forex broker scam?’, that is the question many traders would like to know the answer to. A trading platform of a broker will help you know whether a broker is legit or not. The trading platform of 24CM was designed by Scipio and it is easily understood by every trader, whether newbie or veteran. A trader will have an easy time using it. The broker has also invested in MT4 which is a very popular trading platform among the FX traders. In addition, the broker has a Mobile App which is compatible with both your Android and iOS mobile device.

How is the trading platform of the broker?

In this 24CM scam review, you will learn of the more than 270 underlying assets that you can trade at 24CM. The broker indicates that currency pairs enjoy a leverage of up to 30:1. For the traders keen to explore the crypto market, there is Bitcoin, Litecoin, Ripple among other cryptocurrencies to trade. The leverage offered by the broker for these is 2:1.

The accounts at 24CM

There are some 24CM reviews which say the minimum initial deposit asked by this broker is $250. However, when you browse the website, you will realize that the broker has not indicated, at least explicitly, the required deposit for every account. There are four different types of accounts namely; Basic, Silver, Gold, and Platinum. On each of the types of accounts, the broker has simply indicated the features offered but not the required deposit. Still, a trader will enjoy a demo account which is loaded with at least 100k virtual currency.

The accounts at 24CM

Is 24CM Forex broker legit?

There are quite a number of features at 24CM which are appealing. At the same time, we have seen in this 24CM scam review several things which might make a conservative trader steer clear. Things such as licensing and regulation details seem to be mixed up and unclear. A broker in Mexico will not sure whether they will be served by the CySEC regulated 24CM or the one run by IOS investment and licensed by IFS of Belize.

Many traders want to know what is the minimum amount they are supposed to deposit with their broker before they can open an account. At 24CM Forex broker, you are required to fill in your details first before you get to know what amount you are supposed to put as initial deposit. This is not a feature that many traders, especially the newbies, would love.

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The review below shows our first look at the 24 Capital Markets broker. Keep in mind that it is outdated!

Finding a good trustworthy online forex broker is usually a hard thing today. There are many FX brokers that are scammy and which have swindled people off millions of dollars. The reviews are not always to be trusted because there are reviewers that are paid by brokers so that they can put a good word for them. When reading reviews, you should be keen so as to read a genuine review which is unbiased. We are going to look into several 24 Capital Markets reviews and also the 24CM website in order to come up with an objective review that you can rely on.

An overview of 24 Capital Markets

24 Capital Markets which is commonly referred to as 24CM is a registered Forex broker in Cyprus. The firm is licensed and regulated by the Cyprus Securities and Exchange Commission (CySec). The broker deals in fiat currencies, cryptocurrencies, commodities and CFDs. The firm can be found in almost every other country in the world even though it doesn’t serve USA residents. It promises up to 88% payout returns (refunds). The broker has made the platform to be compatible with iOS and Android smartphones. In addition to this, the broker affords its customers wire transfer, credit cards, Liberty Reverse and MoneyBookers as some of the methods to deposit or withdraw cash from the platform.

24CM scam

24 CM platform review

Over the past few years, 24 Capital Markets has grown to become one of the well-known brands in the FX sector. However, not every 24CM review out there is positive. Traders are at liberty to access the firm’s main website any time of day throughout the week and they stand a chance to earn up to 89%. It is easy to open an account and even operate it. In this 24 Capital Markets review, we are going to see how the broker generally treats its customers.

Trading for customers on this platform has been made easy by the broker because there are numerous tutorials designed to help new traders. Moreover, traders are afforded account managers who according to the broker are meant to help traders make informed trading decisions. However, there are many questions that arise as to the genuineness of account managers found at 24CM.

24Capital markets platform

Is 24 Capital Markets scam?

There are quite a number of 24 Capital Markets reviews which can help you better understand what kind of a broker this firm is. There are those traders who say that the broker is exceptionally good and that they have never experienced a hitch when using the platform. On the other hand, there are many traders that claim that they have been unable to withdraw from their account. Given the huge number of complaints against the kind of service 24CM firm offers, it is more than likely that the services offered here are not exceptionally world-class. Moreover, the minimum initial deposit that the broker asks is $250 which is more than what most brokers ask.

24 capital markets review

The customer service offered by the support team at 24 CM is good. The company uses four different international languages so as to serve customers from all corners of the world. In addition to this, there are 11 dedicated support lines. But upon taking a closer look, our 24 Capital Markets broker revealed that there are account managers who are less than professional. According to one of the 24 Capital Markets reviews, account manager pressure customers to deposit more money in their account. Whenever a customer seems to complicate things by complaining about stuff like a free bonus, withdrawing from their accounts, the manager will cut the conversation short. It is based on the high initial deposit that the broker demands and the pressuring of traders by the account managers that we advise FX enthusiasts to be extra careful when dealing with this broker.

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