Introduction
When considering the best platforms for trading online, regulatory status, transparency, and trustworthiness are vital. Sadly, 24K Markets has issues when it comes to all three. The trading platform has a history of far too many complaints and some very concerning red flags which is why it shouldn’t be considered a proper or trustworthy broker.
Company Name – 24K Markets
Website – https://24kmarkets.com/
Address – The Sotheby Building, Rodney Village, Rodney Bay, Gros-Islet, Saint Lucia.
Regulatory Warning – NA
Domain Blacklisted Status – It seems there is no direct mention of this domain being on a blacklist.
Red Flags and Customer Complaints
Among the worst issues is the misleading bonus system. Multiple traders stated that they were enticed to fund in large amounts as the trading platform promised a 10% bonus, but after they completed all identification checks, they were told no bonus was forthcoming. They said their customer support was evasive and very slow to respond (sometimes no response, sometimes several delays).
The worse issue was the fact the above was happening again and again, as the platform kept stridently requesting new identification documents, even after they stated they reached some sort of verification threshold. Users mentioned having their accounts frozen or even shut down without notice after they put a deposit into the account. Their actions show disregard for account holding and for fair business standards and complete accountability for their operations.
Unrealistic Expectations and Low Trustworthiness
There is no shortage of evidence that suggests the majority of positive reviews online are either fake or paid sponsorships. For example, 24K Markets does not disclose information about who owns the broker, the company’s premise, or the licensing issues. This is normally the case when a broker is trying to evade the consequences of the law or evade investigations from the public.
Unregulated
The most important point is, there is no regulation for 24K Markets! In case of fraud or a dispute, or if the broker disappeared with your funds, there would be ZERO protection since they do not come under any financial regulation. There is always an element of risk when trading with a broker that is not regulated by a recognized authority.
Frequently Asked Questions
Q1: Is 24K Markets regulated?
A: No, there is no evidence that 24K Markets is regulated by an authority.
Q2: Can traders get their profit out?
A: Reports are plenty of traders denied or delayed withdrawals, so more than likely you will experience some withdrawal issues.
Q3: Is it safe to send ID to 24K Markets?
A: No. There are many allegations about requesting ID multiple times and misuse of people’s identity, this generates a lot of privacy and security issues.
How to Recover Money from Scam Brokers
If you’ve been deceived by 24K Markets or any similar unregulated broker, immediate action is crucial. You can recover your funds with the help of experts at Scams Report.
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