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Contract reading

What 24 markets.com legally published, but does not want you to read

Every clause below is published by 24 markets.com itself, on its own website, today. The finding is not that the text exists. It is the distance between what a client is shown and what a client agreed to. Read from its own documents on .

Contracting entity: P24 Capital Markets LTD

marketing contradictionsole discretionbonus lockhidden feewithdrawalsprofit voidingcountry restrictionforum waiverlanguage arbitragedeemed acceptance

24markets.com promises negative balance protection on every account. Its own risk disclosure says your losses may be unlimited and that you are liable for any deficit. The contract lets P24 Capital Markets LTD reverse your profits at its sole discretion, and one clause has you waive the right to argue about it. An account with no trading for 90 days pays $30 a month, and three promotions still on sale today run under terms that expired on 30 June 2026.

Back to 24 markets.com

Contract risk

Money at risk
8.0/10

Where this contract sitsHow far this contract goes, overall. Under 2 is nothing beyond the ordinary; 6 to 9 means several clauses put money you have already earned at risk; 9 and above reads as designed to make payout refusable.

0510
CriticalClauses that can cost you money you have already earned or deposited, or that remove your ability to challenge it.
8
FlaggedEvery clause worth knowing about, at all three severities. Ordinary terms that every broker has are not counted.
27
DocumentsHow many of the broker's own legal files this reading is based on. Each one was downloaded and hashed on the date shown.
17
ContradictionsPlaces where a promise the broker makes in public is not kept by the clause that governs it.
18

How the 27 break downThe same flagged clauses, split by how much each one can cost you. Severity is our reading of the clause, not the broker's label.

Critical8
Warning16
Notice3

The numbers in this contractFigures taken from this broker's own clauses, so the labels differ from broker to broker. The four in the panel above are the same on every report.

4 of these 4 figures come from a clause we rate critical, which means it can take your money or your profit rather than only delay it.

Critical$30Fee on an unused account. Jump to the clause this comes from.A $30 monthly charge after 90 days without tradingCritical90 daysBonus requirement. Jump to the clause this comes from.The bonus locks your profits and dies after 90 daysCritical3In the contract. Jump to the clause this comes from.Three promotions name a different company on the same licenceCritical5 working daysTime to complain. Jump to the clause this comes from.Five business days to object, then you waive the argument

What the documents say

27 clauses worth knowing about, worst first, each quoted from 24 markets.com's own files

01

The account types page tells you every account has negative balance protection, which means the broker writes off a loss bigger than your deposit. The risk disclosure you sign up to says your losses may be unlimited.

In plain words

Negative balance protection is a limit that stops you owing more than you put in. Without it, one fast market move can leave you owing the broker money on top of your deposit.

Why this matters

If the market jumps through your stop, you can end up owing 24markets.com more than you ever deposited. The agreement then lets it demand that debit balance from you.

Exhibit 1CriticalStandard wording

In particular, your losses may be unlimited, and no deposit or other amount you have paid will limit your losses.
Clause 1.0 in Risk Disclosure, p.2
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus), ESMA (EU)

Firms licensed by the FCA, CySEC or any regulator applying the ESMA measures must give a retail CFD client negative balance protection, so the client can never lose more than the money in the account. This contract says your losses may be unlimited and that you are liable for any deficit.

24 markets.com is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

02

The help centre tells you orders go out to hedge funds and banks. The client agreement makes P24 Capital Markets LTD the principal to every order and the only place your trade can be executed.

In plain words

On a principal basis, as your counterparty, means the broker takes the other side of your trade itself. Your loss is then the firm’s gain, so it has an interest in how your trade ends.

Remuneration means payments it receives.

Liquidity providers are outside banks and brokers.

Why this matters

Your trade is settled against the firm holding your money, at prices only it supplies. Its conflicts policy says a liquidity provider may pay it out of the amounts you lose.

Exhibit 2CriticalStandard wording

We are the principal to every order you place with us and therefore we are the only execution venue.
Clause 10 Execution Policy in RETAIL CLIENT AGREEMENT, p.25
Read from the broker's site on Archived copyOpen the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must tell a retail client the capacity in which they act and must not give information about execution that is misleading. This contract says the firm is the principal and the only execution venue, while the help centre describes orders being routed to third parties.

24 markets.com is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

03

Stop trading for 90 days and 24markets.com classes the account as inactive and charges you $30 every month for holding it. No account page or fee page mentions this.

Why this matters

A small account left alone is eaten by the charge, and you only find out when you log back in. The clause sits on page 32 of a 65 page agreement.

Exhibit 3CriticalHarder than usual$30

The Client further acknowledges and confirms that such Inactive Accounts will be subject to a monthly charge of $30, relating to the maintenance/administration of such Inactive Accounts.
Clause Inactive and Dormant Account in RETAIL CLIENT AGREEMENT, p.32
Read from the broker's site on Archived copyOpen the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must disclose all costs and charges to a retail client before that client trades. This charge appears only in the client agreement, and the account types page that sets out what each account costs does not mention it.

24 markets.com is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Day 90The account is classed as inactive and a $30 monthly maintenance charge starts.Inactive and Dormant Account
Balance reaches zeroThe account turns dormant, and you have to ask support to reactivate it, with fresh identity documents if they ask.Inactive and Dormant Account
Three months at zero balanceThe account and all its history is archived on the trade server.Trading Account Archiving
Six years with no movementThe money stops being treated as client money, after a letter to your last known address and 28 days to claim it.12 Unclaimed client money
04

24markets.com can cancel or reverse any profit it decides came from trading it calls prohibited, at its sole discretion and without telling you first. It can also correct your account balance.

Why this matters

Run an automated system without written permission, or trade small price moves, and gains you have already banked can be taken back. The firm alone decides what counts.

Exhibit 4CriticalHarder than usual

If the Company reasonably determines that a Client has engaged in prohibited trading practices as defined above, it may, at its sole discretion and without prior notice, take one or more of the following actions:
Clause 16.3 in RETAIL CLIENT AGREEMENT, p.47
Read from the broker's site on Archived copyOpen the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must act honestly, fairly and professionally in a retail client's best interests, and a term letting the firm cancel a client's gains on its own judgement with no appeal sits outside that. This contract gives the firm that power and adds that the client waives any right to dispute it.

24 markets.com is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 7One clause takes the profit and the next removes your right to challenge the decision that took it.
05

While a bonus is active you cannot withdraw profits until you trade the required volume. The bonus expires 90 days after it is issued, and profits made with it can then be cancelled.

Why this matters

Money you earned with your own deposit is frozen behind a volume target you may never reach. Miss the 90 day deadline and the profit goes, not just the bonus.

Exhibit 5CriticalHarder than usual90 daysNew

Profits generated through trading conducted while the bonus is active shall not be withdrawable until the applicable trading volume requirements have been fully met.
Clause Trading Requirements 3 in Deposit Bonus Terms and Conditions, p.4
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus), ESMA (EU)

Firms licensed by the FCA or CySEC, and any firm applying the ESMA measures, cannot offer a retail CFD client a monetary trading bonus at all. This promotion offers one and ties your own profits to it.

24 markets.com is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 9Asking for a withdrawal is itself a reason to remove the bonus, so testing whether you can get paid can cost you the credit.
06

The Protected Trades, Refer a Friend and Forex Competition terms say the offer comes from Prime Capital Markets (PCM) LTD. Every other document says the company is P24 Capital Markets LTD, and both are given licence GB23202449.

Why this matters

When a promotion is not paid, you need to know which company promised it. The competition terms give Prime Capital Markets the same registration number, 205994, and the same office as the company you contract with.

Exhibit 6CriticalRarely seen3

Prime Capital Markets (PCM) LTD an investment firm regulated by the Financial Services Commission (FSC) of Mauritius holding Global Business License No. GB23202449.
Clause 3 in SAFE AND PROTECTED TERMS AND CONDITIONS, p.2
Read from the broker's site on Open the reference

24markets.com can cancel your profits and decide alone that you earned them wrongly

Clause 16.3 lets the firm reverse any profit it attributes to prohibited trading, at its sole discretion and without notice. Any Expert Advisor counts unless approved in writing, and so does profiting from small price changes. The agreement's own contents page still lists clause 16 as Netting.

Profit reversal1 clause flagged

Any business associate or former associate who becomes a client without written approval is treated as trading abusively. The agreement then closes the account and confiscates all funds held in it, not only the profit.

Why this matters

Your deposit goes too, and the clause keeps working after your partner agreement ends. The partnership agreement itself assumes partners can be clients.

Exhibit 8CriticalRarely seen

No business associate or former business associate of the Company or any of its related entities shall, during the period of the agreement between the associate/former business associate and The Company and after termination of such agreement, become a client of any brand of The Company (either directly or indirectly, alone or with partners, associates, affiliates or any other third party) without the Company’s prior written approval.
Clause 10 Prohibited Trading in RETAIL CLIENT AGREEMENT, p.29
Read from the broker's site on Archived copyOpen the reference
  • Worse together with Exhibit 16One document confiscates a partner's balance for trading without approval and the other charges up to $10,000 for leaving a balance behind.

Five business days to object, and one clause takes the argument away

Trade confirmations become correct, conclusive and binding on you after five business days, while 24markets.com gives itself thirty business days to answer a complaint. Clause 16.4 has you waive any right to dispute or seek compensation for what the firm does under its prohibited trading powers. The agreement also bars you from criticising the firm in public.

Exit from argument2 clauses flagged

You have five business days to object to a trade confirmation before it is treated as correct and binding. A separate clause has you waive any right to dispute what the firm does about prohibited trading.

In plain words

A manifest error means an obvious mistake by the broker.

Why this matters

On day six the trade stands, whatever the price was. The waiver means you agree in advance not to seek compensation for a profit reversal or a closed account.

Exhibit 7CriticalRarely seen5 working days

The Company shall not be held liable for any losses, damages, or claims arising from the enforcement of this clause. The Client hereby waives any right to dispute or seek compensation for actions taken by the Company under Clause 16.
Clause 16.4 in RETAIL CLIENT AGREEMENT, p.47
Read from the broker's site on Archived copyOpen the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must handle complaints under rules set by the regulator, and a retail client keeps access to an independent ombudsman however the contract is written. This contract says the client waives any right to dispute or seek compensation, and the bonus terms say the firm's decision is final and binding.

24 markets.com is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

The client agreement bars you from any public defamation of 24markets.com or distribution of misleading information on social networks, blogs or websites. It then describes such actions as criminal.

Why this matters

A complaint you post about your own account can be answered with a clause rather than a reply. Nothing in it defines what the firm counts as misleading.

Exhibit 22WarningRarely seen

The Client shall not proceed to any public defamation of the Company or to any distribution of misleading information, inter alia in social networks, and/or blogs and/or websites. In case of such criminal actions, the Company shall reserve all its legal rights.
Clause 11 Public Defamation in RETAIL CLIENT AGREEMENT, p.35
Read from the broker's site on Archived copyOpen the reference

What the website promises is not what the contract says

Every account includes negative balance protection, says the 24markets.com account types page. The risk disclosure says your losses may be unlimited and that you are liable for any deficit. The same gap runs through the Arabic and Italian sites, which sell real share ownership that the CFD agreement expressly rules out, and through three promotions still on sale under terms that expired on 30 June 2026.

Promise gap4 clauses flagged

The deposit bonus terms, the Protected Trades terms and the Refer a Friend terms all stopped on 30 June 2026. All three offers are still being sold today, and the welcome bonus page says the 50% offer is always available.

Why this matters

You accept a promotion whose only published rules have run out, so there is no current document saying what you are owed. The bonus terms also let the firm end the promotion at any time at its sole discretion.

Exhibit 12WarningHarder than usual

This Deposit Bonus Up to $10,000 Program ("the Promotion") shall be available until June 30th 2026 at 23:59:59 (GMT+3).
Clause Promotional Period in Deposit Bonus Terms and Conditions, p.2
Read from the broker's site on Open the reference

The Arabic and Italian sites invite you to invest directly in real shares and build a portfolio of assets you really own. The only agreement 24markets.com publishes is for CFDs, where neither side acquires any interest in the underlying.

Why this matters

You get exposure to a price, not a shareholding, so there is no stock to keep if the firm fails. The broker's own shares page calls the same product stock CFDs.

Exhibit 17WarningStandard wording

It is an express term of each CFD Transaction that neither you nor us: acquire any interest in or right to acquire or is obliged to sell, purchase, hold, deliver or receive the Underlying Market
Clause 2.0 in Risk Disclosure, p.3
Read from the broker's site on Open the reference

24markets.com runs a translated Italian storefront, down to the account pages. The notice saying the services are not directed at EU residents and sit outside the European framework appears only in English.

Why this matters

An Italian reader is sold the account in Italian and warned in a language the page assumes they do not read. Clicking Continue makes it your own initiative.

Exhibit 18WarningHarder than usual

The Investment services provided by this website are not directed at EU residents, fall outside the European regulatory framework and are not in scope of (among others) the Market Financial Instruments Directive (MiFID) II.
Clause Important Notice for EU Residents in 24markets.com Italian site, home page
Read from the broker's site on Open the reference

The Arabic welcome bonus page says the 50% deposit bonus is always available. The terms exclude Egypt and Algeria, two of the largest Arabic speaking markets, plus any other country the firm chooses.

Why this matters

You can deposit for a bonus your country cannot receive, and the page you read says nothing about it. The exclusion list sits in an English PDF the Arabic site links but does not translate.

Exhibit 24WarningHarder than usual

Eligible regions: This Promotion is available in all jurisdictions except Mainland China, Vietnam, Thailand, Indonesia, Pakistan, Sri Lanka, Bangladesh, Madagascar, Egypt, and Algeria, or any other jurisdiction as determined by the Company at its sole discretion.
Clause Restrictions 1 in Deposit Bonus Terms and Conditions, p.5
Read from the broker's site on Open the reference

The help centre says no fees, the contract names several

A 1% conversion fee plus a flat amount applies every time 24markets.com converts your profit, swap or dividend, and you carry the bank charges on withdrawals of 100 USD or less. Commission is payable on certain CFDs, and an Islamic account is free of overnight charges for as few as two nights. There is no published fee schedule: the contract says the charges are available on request.

Cost disclosure3 clauses flagged

A 1% conversion fee plus a flat amount applies whenever your profit, swap or dividend is converted. You also carry the bank charges on any withdrawal of 100 USD or less.

Why this matters

The help centre answer that says no deposit or withdrawal fees is contradicted by the contract and by the answer beside it. There is no published fee schedule to check: charges are available on request.

Exhibit 10WarningHarder than usual1%

A conversion fee of 1% plus 1 flat amount respective to your account currency will be applied in cases of conversions of Profit/Loss, swap fees and dividend adjustments.
Clause 5 Rollovers, Interest Conversion Fees in RETAIL CLIENT AGREEMENT, p.12
Read from the broker's site on Archived copyOpen the reference
Our own capture of 24markets.com, taken on Oct 1, 2026The claim, on Help centre, answer to Do you charge any deposit or withdrawal fees?This capture shows the page the quotation was taken from. The words themselves are not marked in it, so please read the quotation above as the evidence.Visit this page on the broker's siteDownload the full size image file
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must give a retail client a full breakdown of costs and charges before trading. This contract says the charges are whatever is agreed from time to time and available on request.

24 markets.com is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

The account types page offers Islamic accounts as standard. The contract makes a swap free account free of charge for a grace period of five nights on major currency pairs, and as little as two on indices and exotic pairs, then charges fees.

Why this matters

Hold a position past the grace period and you pay the overnight charge you opened the account to avoid. The contract also treats exploiting a swap free account as abusive trading.

Exhibit 15WarningHarder than usual5 days

If Customer designates its account as a Swap Free, the account shall remain free of charge during the grace period as indicated in the below table, in accordance with the respective class that the financial instrument belongs to.
Clause 9 Swap Free Accounts in RETAIL CLIENT AGREEMENT, p.22
Read from the broker's site on Archived copyOpen the reference

The partnership agreement lets 24markets.com charge a one time termination handling fee of up to $10,000 for each partner account if you do not withdraw your remaining balance once the notice period ends.

Why this matters

Miss the five day window after a termination notice and the money left in the account can be charged away. The firm applies the fee at its sole discretion.

Exhibit 16WarningRarely seen$10000

The Company may impose a one-time Termination Handling Fee of up to $10.000 (or equivalent) per Partner Account if the Partner fails to withdraw the remaining balance after the termination notice period ends. The total fee shall not exceed $10.000 per personal area.
Clause 10.5 in PARTNERSHIP AGREEMENT
Downloaded from the broker's site on Open the reference

Every withdrawal needs approval, and open trades can block it

24markets.com processes a withdrawal only once it approves the request, and refuses any that would take your margin level below 200% with positions open. It chooses the payment method at its absolute discretion. Ask for extra documents and you have five business days to supply them before the request can be declined.

Exit conditions1 clause flagged

Your request is processed only once the broker approves it, and it will refuse any withdrawal that would drop your margin level below 200% while trades are open. It also picks the payment method at its absolute discretion.

Why this matters

You may have to close positions at a loss before you can take your own money out. If extra documents are asked for, five business days without them lets the firm decline the request.

Exhibit 9WarningHarder than usual200%

The Company will not accept any withdrawal request where the Client has open positions, and this execution will cause the Margin Level to drop below 200%.
Clause 10 Withdrawals in RETAIL CLIENT AGREEMENT, p.30
Read from the broker's site on Archived copyOpen the reference

The 50% bonus locks your profits, not just the bonus

Profits made while a bonus is active cannot be withdrawn until you trade the bonus amount divided by two in standard lots. The bonus expires after 90 days and those profits can be cancelled with it, a deadline that appears nowhere in the 16 promotion rules 24markets.com publishes. Competition prizes and loss cashback carry their own locks.

Bonus lock3 clauses flagged

The welcome bonus page offers 50% on this deposit and all future deposits. The bonus terms give 50% on the first deposit only and 20% on everything after that.

Why this matters

Fund the account twice and the second bonus is less than half what the page promised. The 50% headline also runs in Arabic, where the 20% rate is nowhere on the page.

Exhibit 11WarningHarder than usual20%

50% on the first deposit, up to USD 1,000 bonus credit.
Clause Bonus Structure 2 in Deposit Bonus Terms and Conditions, p.3
Read from the broker's site on Open the reference

The competition page offers real money rewards of $500, $1,000 or $2,000. The terms credit the prize as non-withdrawable trading funds, and the credit is removed when you withdraw any profit from it.

Why this matters

Winning gets you margin, not money. To take out profits earned on the prize you need 50 round turn trades, each held ten minutes, and a 30 day wait.

Exhibit 13WarningHarder than usual$2000

Prizes are credited as non-withdrawable trading funds (bonus credit) to the winner’s verified live account.
Clause 5.2 in Forex Trading Competition Terms & Conditions, p.4
Downloaded from the broker's site on Open the reference

Protected Trades is sold with no strings attached and cash you are free to withdraw. The terms say any withdrawal during the protected stage ends the protection immediately for every remaining trade.

Why this matters

Taking out $50 cancels cover worth up to $4,000. You keep what has already been paid, but the rest of your protected trades revert to normal conditions.

Exhibit 14WarningHarder than usual$4000

If any withdrawal is made from the account during the Protected Stage, the Protected Stage will end immediately and all trades will be subjected to normal market conditions.
Clause 16 in SAFE AND PROTECTED TERMS AND CONDITIONS, p.4
Read from the broker's site on Open the reference

24markets.com can change your trading terms without telling you

The firm can widen spreads, change leverage and raise margin without notice, and you then indemnify it for the losses that causes. The bonus and partner terms change with no notice at all, with continued use counting as acceptance. Accounts that share an address, a device or a payment method can have their bonuses removed and their profits cancelled.

Unilateral powers3 clauses flagged

24markets.com can widen its spreads, change your leverage and raise margin requirements without notice. You then agree to indemnify it for any losses caused by that widening and adjustment.

Why this matters

A position that was safe can be stopped out after the firm moves the goalposts, and the clause makes the resulting loss yours. It bites hardest around news releases and at the week's open.

Exhibit 19WarningRarely seen

The Company exclusively reserves the right to widen its variable spreads, adjust leverage, change its rollover rates and/or increase the margin requirements without notice under certain market conditions
Clause 10 Trade Adjustments in RETAIL CLIENT AGREEMENT, p.27
Read from the broker's site on Archived copyOpen the reference
  • Worse together with Exhibit 1The firm can raise the margin you need without notice while the contract leaves you liable for any deficit that follows.

Accounts that share an IP address, a device, a payment method or even trading patterns can be treated as coordinated abuse. 24markets.com may then remove bonuses, cancel profits and terminate the accounts involved.

Why this matters

Two people trading from one home connection, or one family card, meet the test without doing anything wrong. Matching contact details alone is listed as grounds for immediate disqualification.

Exhibit 20WarningHarder than usualNew

The Company reserves the right to investigate and take action where multiple accounts participating in the Promotion are found to share common technical identifiers, including but not limited to IP addresses, devices, payment methods, or network connections, trading patterns or execution behaviour, which may indicate coordinated activity or abuse of the Promotion.
Clause Abuse, Fraud & Misuse 4 in Deposit Bonus Terms and Conditions, p.6
Read from the broker's site on Open the reference

The bonus terms let 24markets.com amend, suspend or end the promotion at its sole discretion without prior notice. The partnership agreement changes with immediate effect, and carrying on counts as your acceptance.

Why this matters

The rules you signed up to can be different by the time you qualify. The client agreement is better here: it promises ten business days of notice for a material change.

Exhibit 21WarningHarder than usual

P24 Capital Markets Ltd reserves the right to amend, suspend, or terminate the Promotion, or any of its terms, at its sole discretion without prior notice.
Clause General Terms 2 in Deposit Bonus Terms and Conditions, p.6
Read from the broker's site on Open the reference

One Mauritius licence, and no compensation scheme behind it

P24 Capital Markets LTD holds FSC Mauritius licence GB23202449, and its risk disclosure says no Mauritius client compensation scheme covers your trading. The regulation page shows an FSCA South Africa licence beside it, which belongs to Figtree Capital (Pty) Ltd, a company you sign nothing with. The agreement also lets client money sit outside Mauritius with no liability if that third party fails.

What the licence covers2 clauses flagged

The help centre says client money sits in segregated accounts so your money is protected if the firm fails. The risk disclosure says segregation may not afford complete protection and that no Mauritius compensation scheme covers your trading.

Why this matters

If P24 Capital Markets LTD or its bank fails, there is no fund to pay you out. The agreement also lets it hold your money outside Mauritius and disclaims liability if that third party fails.

Exhibit 23WarningStandard wording

24markets.com / P24 Capital Markets Ltd is required to hold client funds in segregated trust accounts in accordance with the regulations of Financial Services Act, 2007, but this may not afford complete protection.
Clause 8.0 in Risk Disclosure, p.4
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

A retail client of an FCA firm is covered by the Financial Services Compensation Scheme and a CySEC firm's clients by the Investor Compensation Fund, each paying out if the firm fails. This disclosure says no client compensation scheme under the laws of Mauritius covers you.

24 markets.com is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

The regulation page shows an FSC Mauritius licence and an FSCA South Africa licence side by side as 24markets.com's own oversight. Licence 51524 belongs to Figtree Capital (Pty) Ltd, which is not a party to your agreement.

Why this matters

Your contract is with the Mauritius company and its regulator alone. A complaint about your account goes to the FSC in Mauritius, not to the South African authority.

Exhibit 25NoticeStandard wording

24markets.com is a website operated by P24 Capital Markets LTD, which is authorized and regulated by Mauritius Financial Services Commission, Licence No. GB23202449
Clause 3 Information about us in RETAIL CLIENT AGREEMENT, p.8
Read from the broker's site on Archived copyOpen the reference

Two company names share one licence number

The client agreement is with P24 Capital Markets LTD, but the Protected Trades, Refer a Friend and Forex Competition terms say Prime Capital Markets (PCM) LTD is the company, with the same licence GB23202449, the same registration 205994 and the same Port Louis office. Mauritius law governs, Mauritius courts hear your claim, and you waive any objection that this is inconvenient.

Who you are dealing with1 clause flagged

Mauritius law governs the agreement and you submit to the courts of Mauritius. You also waive any objection that those courts are an inconvenient place to sue, while the firm keeps the right to sue you elsewhere.

Why this matters

Taking a claim anywhere means flying it to Port Louis, whatever country you live in. The clause is written for the firm's benefit and says so.

Exhibit 27NoticeHarder than usual

waives any objection which it may have at any time to the laying of venue of any Proceedings brought in any such court and agrees not to claim that such Proceedings have been brought in an inconvenient forum or that such court does not have jurisdiction over it.
Clause 22 Jurisdiction in RETAIL CLIENT AGREEMENT, p.58
Read from the broker's site on Archived copyOpen the reference

Card details kept for five years as a condition of paying in

24markets.com says it cannot process your payment until you agree that your card details are stored for five years. Its AML policy keeps records for at least seven years while the help centre says up to five. The Cookie Policy linked in the footer of every page is empty, so the only cookie text is a short paragraph in the privacy policy.

Your data1 clause flagged

You cannot deposit by card unless you agree that your card details are stored for five years. The AML policy says records are kept for at least seven years, while the help centre says up to five.

Why this matters

Consent to long term card storage is a condition of paying money in, not a choice. The privacy policy also lets the firm charge you a fee for a repeated request to see your own data.

Exhibit 26NoticeStandard wording

As per our policy, we cannot process your payment before you agree to such storing.
Clause 5 Payments in RETAIL CLIENT AGREEMENT, p.11
Read from the broker's site on Archived copyOpen the reference

Where the marketing and the contract disagree

A promise made in public, set against the clause that governs it

01

The account page promises a cap on losses that the risk disclosure says does not exist.

Said in public, in English

All accounts include negative balance protection, hedging, and the option for Islamic accounts as standard.

Account types page, below the three account cards

In the contract · clause 1.0

In particular, your losses may be unlimited, and no deposit or other amount you have paid will limit your losses.

02

The help centre says your orders leave the firm, and the contract says the firm is the only place they are executed.

Said in public, in English

24markets acts as a STP ( Straight Through Processing ). All orders are routed to the broker's liquidity providers, and prices are executed at the bid/ask rate provided by liquidity providers.

Help centre, answer to What type of broker is 24markets?

In the contract · clause 10 Execution Policy

We are the principal to every order you place with us and therefore we are the only execution venue.

03

The page offers 50% on every deposit while the terms pay 20% on everything after the first.

Said in public, in English

Activate your account and claim a 50% bonus on this and all future deposits.

Welcome Bonus page, closing call to action

In the contract · clause Bonus Structure 2

20% on all subsequent deposits, up to a maximum cumulative total of USD 9,000 bonus credit.

04

The Arabic headline promises 50% on every deposit, and the English terms it links pay 20% after the first.

Said in public, in Arabic

مكافأة 50٪ على كل إيداع

Word for word in English: 50% bonus on every deposit

Arabic Welcome Bonus page, main headline

In the contract · clause Bonus Structure 2

20% on all subsequent deposits, up to a maximum cumulative total of USD 9,000 bonus credit.

05

The page calls the bonus withdrawable and never mentions the 90 day clock that can cancel the profits with it.

Said in public, in English

Withdrawable

Welcome Bonus page, third benefit heading, followed by Once unlocked, it is yours to withdraw just like profits

In the contract · clause Bonus Cancellation & Expiry 3

If the bonus expires and the Client has not met the required trading volume, any profits generated through the use of the bonus may be cancelled.

06

Always available is sold under terms whose promotional period ended on 30 June 2026.

Said in public, in English

50% deposit bonus options are always available. Limited-time events may suggest higher bonus amounts—up to 100%.

Welcome Bonus page, promotion rule 1

In the contract · clause Promotional Period

This Deposit Bonus Up to $10,000 Program ("the Promotion") shall be available until June 30th 2026 at 23:59:59 (GMT+3).

07

Real money rewards are credited as bonus funds that cannot be withdrawn.

Said in public, in English

Earn real money rewards of $500, $1,000, or $2,000 by outperforming the competition.

Forex Competition page, Win Rewards step

In the contract · clause 5.2

Prizes are credited as non-withdrawable trading funds (bonus credit) to the winner’s verified live account.

08

You are told to withdraw freely, and withdrawing ends the loss cover on every remaining protected trade.

Said in public, in English

We reimburse losses using real cash, not credits or bonus funds, so you’re free to withdraw, reinvest, or use it however you want.

Protected Trades page, Real cash not bonuses panel

In the contract · clause 16

If any withdrawal is made from the account during the Protected Stage, the Protected Stage will end immediately and all trades will be subjected to normal market conditions.

09

The help centre says no withdrawal fees while the contract puts the bank charges on you for small withdrawals.

Said in public, in English

No, we don’t charge any fees on deposits or withdrawals.

Help centre, answer to Do you charge any deposit or withdrawal fees?

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of 24markets.com

In the contract · clause 10 Withdrawals

The Client agrees that any bank charges that might occur in case of a withdrawal request equal or less than 100 USD/EUR/GBP (or any other currency equivalent), derived from the Client’s trading account to the client’s designated bank account, will be borne by the Client.

10

An Islamic account offered as standard is only free of overnight charges for a grace period of two to five nights.

Said in public, in English

All accounts include negative balance protection, hedging, and the option for Islamic accounts as standard.

Account types page, below the three account cards

In the contract · clause 9 Swap Free Accounts

Positions that continue to be held after the end of the grace period, will be subject to fees which will be charged at 22:00 GMT during winter time and at 21:00 during summer time after the end of the said period.

11

Withdraw at any time meets a 200% margin level test and a withdrawal the firm must first approve.

Said in public, in English

Yes, if your account is verified, you can request a withdrawal for your available balance at any time.

Help centre, answer to Can I withdraw money whenever I want?

In the contract · clause 10 Withdrawals

The Company will not accept any withdrawal request where the Client has open positions, and this execution will cause the Margin Level to drop below 200%.

12

Direct ownership of real shares is sold in Arabic while the only published agreement gives no ownership of anything.

Said in public, in Arabic

امتلك مستقبلك المالي من خلال الاستثمار مباشرة في أسهم حقيقية لشركات عالمية رائدة.

Word for word in English: Own your financial future by investing directly in real shares of leading global companies.

Arabic home page, Invest in real shares section

In the contract · clause 10 Stock Related Pay-outs on CFDs

A person who holds a CFD position has no ownership of the underlying instrument.

13

The Italian page sells assets you really own, and the risk disclosure says no interest in the underlying is acquired.

Said in public, in Italian

consentendoti di costruire un portafoglio diversificato con asset di tua reale proprietà.

Word for word in English: allowing you to build a diversified portfolio with assets you really own.

Italian home page, Invest in real shares section

In the contract · clause 2.0

It is an express term of each CFD Transaction that neither you nor us: acquire any interest in or right to acquire or is obliged to sell, purchase, hold, deliver or receive the Underlying Market

14

The Italian site invites Italian speakers in while its only notice, in English, says the services are not for EU residents.

Said in public, in Italian

Unisciti a una piattaforma affidabile e multi-regolamentata progettata per coloro che voglionon Fare Trading, Investire o Ottenere Finanziamenti - tutto in un unico posto.

Word for word in English: Join a trusted, multi-regulated platform designed for those who want to trade, invest or get funded, all in one place.

Italian home page, Your all in one trading ecosystem section

In the contract · clause Important Notice for EU Residents

The Investment services provided by this website are not directed at EU residents, fall outside the European regulatory framework and are not in scope of (among others) the Market Financial Instruments Directive (MiFID) II.

15

Your money is protected in insolvency, says the help centre; the risk disclosure says segregation may not afford complete protection.

Said in public, in English

Segregation of client funds: all client funds are held in segregated accounts, separate from the company’s own, meaning in the event of insolvency, your money is protected

Help centre, answer to Is the money I deposit with 24Markets safe?

In the contract · clause 8.0

24markets.com / P24 Capital Markets Ltd is required to hold client funds in segregated trust accounts in accordance with the regulations of Financial Services Act, 2007, but this may not afford complete protection.

16

Two regulators are presented as the broker's own, and the contract names one company under one of them.

Said in public, in English

24markets.com operates under multiple international regulatory oversights of the Financial Services Commission (FSC) of Mauritius and the Financial Sector Conduct Authority (FSCA) of South Africa, ensuring compliance, security, transparency, and safeguarding of client funds.

Regulation Center page, opening paragraph above the two licence cards

In the contract · clause 3 Information about us

24markets.com is a website operated by P24 Capital Markets LTD, which is authorized and regulated by Mauritius Financial Services Commission, Licence No. GB23202449

17

An Arabic page says the bonus is always available while the terms exclude Egypt and Algeria.

Said in public, in Arabic

عروض مكافأة الإيداع بنسبة 50٪ متاحة دائمًا.

Word for word in English: 50% deposit bonus offers are always available.

Arabic Welcome Bonus page, promotion rule 1

In the contract · clause Restrictions 1

Eligible regions: This Promotion is available in all jurisdictions except Mainland China, Vietnam, Thailand, Indonesia, Pakistan, Sri Lanka, Bangladesh, Madagascar, Egypt, and Algeria, or any other jurisdiction as determined by the Company at its sole discretion.

18

The help centre says five years after the relationship ends and the AML policy says at least seven.

Said in public, in English

There are however cases where we may have to maintain records for a longer period, as we are subject to anti-money laundering laws, which require us to keep certain information for up to 5 years after our business relationship has ended

Help centre, answer to How long does 24Markets store my personal information for?

In the contract · clause 6 Record keeping

P24 Capital Markets LTD is required to keep records for a period of at least 7 years by law. The 7-year period is calculated following the carrying out of the transactions or the end of the business relationship.

What changed quietly

This is our first reading of 24markets.com, so there is nothing yet to compare it against.

  • REWRITTENClause Trading Requirements 3

    Profits made with a bonus used to be withdrawable at any time, and now they are locked until the volume target is met.

    Profits generated through trading conducted while the bonus is active shall not be withdrawable until the applicable trading volume requirements have been fully met.

  • ADDEDClause Eligibility 11

    A new clause spends your own deposit on losses before it touches the bonus credit.

    Where a Client has been awarded a Bonus and the Trading Account holds positions that incur losses, during a period where the bonus is active, any losses resulting from the trading will be deducted first from the actual deposited funds and thereafter from the bonus.

  • ADDEDClause General Terms 6

    A new clause says removing a bonus or the profits from it cannot be the grounds for a dispute, chargeback or claim.

    The Client acknowledges that bonuses are promotional incentives granted at the Company’s discretion and do not constitute the Client’s deposited funds.

  • ADDEDClause Abuse, Fraud & Misuse 4

    Shared devices, payment methods and trading patterns were added as grounds to cancel bonuses and profits.

    The Company reserves the right to investigate and take action where multiple accounts participating in the Promotion are found to share common technical identifiers, including but not limited to IP addresses, devices, payment methods, or network connections, trading patterns or execution behaviour, which may indicate coordinated activity or abuse of the Promotion.

  • REWRITTENClause Inactive and Dormant Account

    Logging in was dropped from the inactivity test, so keeping an eye on the account no longer holds off the $30 charge.

    The Customer acknowledges and confirms that any trading account(s), held with the Company where the Customer has not: a. performed any activity; b. opened positions; for a period of 90 days and more, shall be classified by The Company as an Inactive Account

  • REWRITTENClause 6 Record keeping

    The AML policy was moved from Prime Capital Markets Ltd to P24 Capital Markets LTD, while three promotion documents still name the old company.

    P24 Capital Markets LTD is required to keep records for a period of at least 7 years by law.

The documents this reading is based on

17 files, all published by 24 markets.com. Each shows when we read it and a fingerprint of its wording.

WIKILIX keeps the copy of each file it read, and does not republish it: what is published is the fingerprint of its wording. Download the file yourself and hash its text, lowercased with runs of whitespace collapsed, and a matching fingerprint means the wording quoted above is still the wording 24 markets.com publishes.

How this reading was done

Every clause above was read out of a document 24 markets.com publishes itself

This reading was published on .

Documents
13 of 17downloaded from the broker's site, and 13 read in full
Pages opened
25pages walked to find those documents, footer links included
Older copies
12earlier versions downloaded, 4 identical to the copy we hold by fingerprint
Marketing pages
11public pages set against what the contract says
Languages
AR vs EN vs ITthe language it advertises in, against the language it contracts in

Who the contract is with

P24 Capital Markets LTD

You contract with P24 Capital Markets LTD, a Mauritius company, registration number 205994, holding FSC Global Business Licence GB23202449. It is not the company behind the second licence shown on the regulation page: FSCA licence 51524 belongs to Figtree Capital (Pty) Ltd in South Africa, which signs nothing with you. Three promotion documents name Prime Capital Markets (PCM) LTD as the issuer and give it the same licence number, the same registration number and the same office. Your deposits can pass through PCM 24 Tech Services Ltd in Cyprus, and the agreement says the broker is not liable for delays there.

Quotations are copied verbatim from the documents named above, with the clause number and the page each one came from. Where a clause is quoted in another language, the original is shown first and the English is a translation.

The plain-language parts, what a clause means for a client, how ordinary it is, and how it reads against a regulated standard, are WIKILIX's analysis and are labelled as such on every card. This is a reading of public documents, not legal advice and not an allegation of wrongdoing.

In fairness, and what we could not check

A reader who knows the edges of the work can trust the middle of it

The risk disclosure is unusually frank. It says your losses may be unlimited, that fund segregation may not give complete protection, and that no Mauritius compensation scheme covers you. The client agreement promises ten business days of written notice before a material change, which the bonus terms and the partner terms do not. The bonus terms let you take out up to USD 250 without meeting any volume requirement. The complaints policy names the FSC as the place to appeal a rejected complaint, and gives you a named escalation path inside the firm first. Eight of the main documents sit on one page and download without a login.

The Client Agreement and the Risk Disclosure would not open from the copies we were given. We read both from the broker's own files on cdn.24markets.com, and every quotation credited to them comes from there. Parts of the Partnership Agreement came out unreadable, so we read only what was legible. The older copy of the Privacy Policy was empty, so we could not compare it with today's. We found three promotion documents, for Protected Trades, Refer a Friend and the Forex Competition, that the legal documentation page does not list, and we read all three. 24markets.com publishes no legal document in Arabic, Spanish or Italian, so we held its translated marketing pages against the English contract.

How to check any of this yourself

Every quote above links to the 24 markets.com file it came from. This is what to do with it.

Open the three stepsFind the words in the source, work out the fingerprint, and read what a difference does and does not prove.

Open the source and search for the words

Every quote has a link under it. Open the file, or the web page, and search it for the words we quote. The clause number next to the quote tells you where to look.

If the words are not there any more, the source may have changed after we read it. That is worth knowing too. We keep the date we read it, and a code worked out from its wording, so the quote stays checkable.

What a fingerprint is

A fingerprint is a code worked out from what a source says. Change one word and the code changes completely. We keep two codes for every file we read, and the panel on each source shows both.

The first is the code of the exact file we downloaded. The second is the code of its wording alone, with capital letters lowered and runs of spaces collapsed. When the same words are saved as a new file, the first code changes and the second one stays the same.

Only the first code can be worked out on your own computer. Save the file, then run one of these, putting the name of the file you saved where the example is. The panel on each source prints the command with that source's real file name already in it.

macOS or Linux:
  shasum -a 256 the-file-you-saved.pdf

Windows:
  certutil -hashfile the-file-you-saved.pdf SHA256

The two codes are different from each other, and they are not meant to match. Comparing one against the other proves nothing.

What a difference means, and what it does not

A different file code on its own proves nothing. A PDF saved again with a new date inside it is a new file saying exactly the same thing.

A different wording code means the words themselves changed. That is the one that matters, and it is why we keep it.

Even then, a change is not proof of bad faith. Companies update their documents. What this report says is what the document said on the day we read it, and every quote carries that date.

A source that is a web page and not a file has no file to save, so only the code of its wording is shown.

How this report is made

Every clause quoted above comes from a document 24 markets.com publishes on its own website, downloaded and hashed on the date shown, with the clause number and page recorded so any reader can check it. We do not allege anything the documents do not say, and we do not judge 24 markets.com on anything other than its own published terms and its own public marketing. Where a clause has a qualifier that softens it, the report says so. Last read Oct 1, 2026.

If you represent 24 markets.com and a clause has changed, been withdrawn, or is being read out of context, tell us and we will re-read the documents and update this page. Corrections from the broker are welcome and are published with the reading they change. Contact us.

This is a reading of a contract, not legal advice and not a ruling on 24 markets.com. Whether its licence is real and current is a separate check on the broker profile.

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