Introduction
24K Markets operates as a trading platform under 24K Markets Ltd, registered in Saint Lucia and established in 2023. It boasts complete forex, stocks, indices, commodities, and cryptocurrencies marketing through its TradeLocker platform. However, much closer inspection will reveal many red flags, beginning with alleged trading malpractice and ending with non-regulation. These are symptoms that raise a serious question in my mind whether 24K Markets is even an honest broker or rather a scam designed to fleece investors.
Lack of Regulatory Oversight
By far, the most disturbing factor is that there is no oversight in the hands of any bona fide financial regulator such as the FCA (UK), ASIC (Australia), or CySEC (Cyprus). In the absence of regulatory protection, a client goes naked, with no promise of fund security or dispute resolution channels. Investors who trade with unregulated brokers often find themselves being delayed on withdrawals, accounts being frozen, or worst yet, completely losing their deposited funds.
Trading Platform Issues
The software used at 24K Markets is TradeLocker. Its misuse has been alleged. Among other things, they are alleged to be using manipulative tactics, closing trades prematurely, and margin requirements seem to be placed arbitrarily, in such a way that client balances do not reflect fair market conditions, so, much like other unscrupulous brokers, these manipulative acts tarnish investor confidence.
Investor Complaints and Reports
Traders have lodged complaints regarding enduring inconveniences arising from:
Repeated Verification Requests – Accounts are locked until redundant demands for identity verifications are submitted multiple times.
Withdrawal Blocks – Money goes into deposits, but investigators are later denied the withdrawal of the same.
Bonus-not-Paid & Hidden Charges – Cases of promised bonuses never credited and withdrawal conditions not clearly explained.
Customer Support in Need of Improvement – With support tickets going unanswered for weeks, investors are left frustrated and feeling out of options.
FAQs
1. Is 24K Markets a regulated broker?
No. 24K Markets is not licensed by any known financial regulator, be it the FCA, ASIC, or CySEC. So, it is a very risky platform, and investor funds are not protected under the law.
2. What are the main complaints against 24K Markets?
Claimants cited withdrawal somehow being blocked, repeated verification requirements – sometimes even after they were fulfilled -, unfulfilled bonuses, hidden charges, and poor customer support: these are standard red flags hanging over what would be scam broker cases.
3. What trading platform does 24K Markets use?
24K Markets uses the TradeLocker platform, which was found to be conducting suspicious trading activities such as margin manipulation and forcibly closing trades ahead of time.
4. Why is 24K Markets considered risky?
There are a number of red flags associated with the broker: unregulated operations, a lack of transparency, investor complaints that never get addressed, and similarities to previously exposed scam brokers. Surely this makes it risky to trade with.
Reclaim Your Lost Funds with Cyber Scam Recovery Services
If you have been victimized by a 24K Markets scam or any other fraudulent scheme, consider seeking assistance from reputable organizations like Cyber Scam Recovery, which specializes in fund recovery. Our free consultations can guide you through the process of recovering your funds, ultimately prioritizing your financial well-being. Stay watchful and informed to safeguard your financial interests in an ever-changing financial world.
If you have fallen victim to forex scams, cryptocurrency scams, or any other fraudulent activities, reach out to us for assistance and support.
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