What Account Types and Fees Does 24markets Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners and casual traders |
Low minimum deposit, user-friendly interface, educational resources |
Suitable for small-capital practice and learning trading basics |
| Professional Account |
Experienced traders and professionals |
Higher leverage, direct market access, reduced fees |
Requires trading volume qualifications and experience verification |
| Corporate Account |
Corporate clients and institutions |
Customizable solutions, dedicated account management |
Requires corporate documentation and compliance verification |
| Islamic Account |
Traders requiring swap-free options |
Compliant with Shariah law, no overnight interest |
Available for all account types upon request |
| Demo Account |
New traders and those testing strategies |
Virtual funds, risk-free trading environment |
Accessible to all users, no minimum deposit required |
Account Opening Process
To open an account with 24markets, follow these steps:
1. Visit the 24markets website and click on the “Open Account” button.
2. Complete the registration form by providing personal information such as your name, email, and contact details.
3. Submit employment and financial information to assess suitability for the chosen account type.
4. Provide identity verification documents, including a government-issued ID and proof of address (like a utility bill).
5. Deposit funds into your account to initiate trading.
6. Account flexibility allows for upgrades to a professional account later as trading experience grows.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (EUR/USD) |
1.7 |
$0 |
Competitive spread for major pairs |
| Forex (GBP/USD) |
1.9 |
$0 |
Standard trading conditions |
| CFDs (Gold) |
0.34 |
$0 |
Low spreads for commodities |
| CFDs (Oil) |
0.06 |
$0 |
Attractive pricing for energy traders |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable depending on market conditions |
Other Fees
In addition to trading fees, 24markets may charge the following:
– Deposit/Withdrawal Fees: Vary based on the selected payment method; some methods may incur fees.
– Inactivity Fees: Charged after a specified period of inactivity on the trading account.
– Platform Usage Fees: None applicable for standard trading; however, premium services may have associated costs.
– Overnight Interest (Swap Rates): Applicable for positions held overnight unless using an Islamic account.
– Currency Conversion Fees: Charged when depositing or withdrawing in a currency different from the account’s base currency.
