24 Exchange Review : Institutional-Only Trading Platform with 24/7 Market Access

24 Exchange Overviews

24 Exchange is a multi-asset institutional trading platform founded in 2018 and regulated by the Bermuda Monetary Authority. It offers Spot FX, FX NDFs, Crypto NDFs, and U.S. equities via FIX API with 24/7 trading access. Exclusively for institutional clients, the platform focuses on transparency, low-latency execution, and regulatory compliance.

Pros and Cons

Is 24 Exchange Safe? Broker Regulations

24 Exchange operates under the regulatory oversight of the Bermuda Monetary Authority (BMA), ensuring adherence to stringent financial standards. The company comprises two regulated entities:

• 24 Exchange Bermuda Limited: Oversees the platform’s trading infrastructure.

• 24 Exchange Broker Limited: Manages brokerage services and holds a “Class T” Digital Asset Business Act (DABA) license.

The Class T DABA license permits 24 Exchange to conduct digital asset business activities, including cryptocurrency trading, under Bermuda’s regulatory framework. This licensing underscores the company’s commitment to operating within a transparent and compliant environment.

While specific details regarding security measures are not disclosed on the website, the platform emphasizes its dedication to providing a secure trading environment for institutional clients. This includes implementing robust systems and protocols to protect client data and ensure the integrity of trading activities.

It’s important to note that 24 Exchange caters exclusively to institutional clients and does not offer services to retail traders. This focus allows the company to tailor its security and compliance measures to meet the complex requirements of professional market participants.

In summary, 24 Exchange’s regulatory compliance with the BMA and its specialized licensing for digital asset activities reflect a strong commitment to safety and integrity in institutional trading.

How to Trade with 24 Exchange?

Trade Assets

24 Exchange offers a diverse range of trading instruments tailored for institutional clients, focusing on delivering efficient and secure trading solutions across multiple asset classes.

1. Spot Foreign Exchange (FX)

24 Exchange provides access to spot FX trading, enabling clients to execute trades in major currency pairs with competitive pricing and low latency. The platform’s infrastructure supports seamless integration, facilitating efficient currency trading operations.

2. FX Non-Deliverable Forwards (NDFs)

The platform supports trading in FX NDFs, allowing clients to hedge or speculate on currencies that are not freely convertible. This offering is particularly beneficial for managing exposure in emerging markets where currency restrictions may apply.

3. Crypto Non-Deliverable Forwards (Crypto NDFs)

24 Exchange extends its NDF offerings to the cryptocurrency market, providing clients with the ability to trade Crypto NDFs. This instrument enables exposure to cryptocurrency price movements without the need to hold the underlying digital assets, aligning with regulatory compliance and risk management strategies.

4. U.S. Equities

The platform has announced plans to offer trading in U.S. equities, aiming to provide extended trading hours to meet the needs of global institutional investors. This initiative reflects 24 Exchange’s commitment to expanding its asset class offerings and enhancing market accessibility.

By focusing on these instruments, 24 Exchange caters to the sophisticated requirements of institutional clients, offering a unified platform that supports multiple asset classes with an emphasis on efficiency, security, and regulatory compliance.

24 Exchange has developed a proprietary trading platform tailored exclusively for institutional clients, providing seamless and cost-efficient access to global markets. Trading on 24 Exchange involves several streamlined steps, made possible through its robust technology and connectivity infrastructure.

Steps to Trade

Step 1: Onboarding and Integration

To begin trading with 24 Exchange, institutional clients must undergo a formal onboarding process, which includes documentation, regulatory checks, and integration setup. The platform supports connectivity via FIX API, enabling direct communication between a client’s trading system and the exchange.

Once integrated, clients can access real-time price feeds, place orders, and monitor execution in accordance with their internal trading strategies. The FIX protocol ensures low-latency data exchange, making the platform ideal for high-frequency and algorithmic traders.

Step 2: Access to Trading Instruments

After onboarding, clients gain access to the platform’s supported markets, which include spot FX, FX NDFs, crypto NDFs, and eventually U.S. equities. The platform allows for anonymous trading, with no last-look pricing, fostering transparency and consistent execution.

Step 3: Order Execution

Trades are executed within 24 Exchange’s central limit order book (CLOB) structure, which ensures fair and anonymous matching. Liquidity is sourced from a broad range of institutional participants, and clients can also opt for custom liquidity pools based on their trading preferences.

Step 4: Post-Trade Reporting and Settlement

24 Exchange offers comprehensive post-trade transparency and settlement services. Trade confirmations, logs, and other required documentation are made available to clients immediately upon execution. Settlement cycles and instructions are configured to meet each client’s operational requirements.

Platform Features

• 24/7 Trading: Continuous access to markets, including weekends.

• FIX API: Seamless connectivity for system-level trading integration.

• Low-Cost Structure: Designed to reduce trading expenses for institutions.

• No Last Look: Transparent execution model.

• Multi-Asset Access: Trade FX, crypto, and equities on a single platform.

Trading on 24 Exchange is designed to eliminate inefficiencies found in legacy trading systems while providing a secure, regulated, and high-performance environment for professional participants.

How Can I Open 24 Exchange Account? A Simple Tutorial

Opening an account with 24 Exchange is a structured process tailored specifically for institutional clients. Unlike retail trading platforms, 24 Exchange is not open to individual traders. Instead, it serves hedge funds, proprietary trading firms, banks, and other professional entities that meet strict regulatory and operational criteria.

Here is a simplified overview of how to open an account with 24 Exchange:

1. Initial Contact

Prospective clients must initiate contact through the official website by selecting the relevant product offering (FX, NDFs, Crypto, or Equities) and using the “Contact Us” forms available under each section. Alternatively, direct communication can be established via email or through the institutional sales team.

2. Eligibility and Pre-Qualification

24 Exchange only serves non-retail and institutional clients. The onboarding process includes pre-qualification steps to ensure that the applicant is a legitimate, licensed entity capable of meeting the operational, compliance, and capital requirements of trading on an institutional platform.

3. Documentation and Regulatory Checks

As part of its compliance obligations under the Bermuda Monetary Authority (BMA), 24 Exchange requires documentation for KYC (Know Your Customer) and AML (Anti-Money Laundering) purposes. Required documents may include:

• Proof of legal entity registration

• Financial statements

• Organizational chart

• Identity verification for authorized signatories

• Regulatory licenses or exemptions (if applicable)

These documents are reviewed to ensure full compliance with local and international regulatory frameworks.

4. Agreement and Terms

Upon successful verification, clients will be required to sign the Customer Agreement and any product-specific terms and conditions. These documents govern all aspects of the client relationship, from trading obligations and settlement cycles to data access and confidentiality clauses.

5. Integration and Setup

Once all legal agreements are executed, technical onboarding begins. Clients receive credentials and documentation for FIX API integration, which connects their internal trading systems directly to 24 Exchange’s matching engine. Testing in a sandbox environment is typically offered prior to live trading.

6. Go Live and Trade

After completing integration and initial testing, the account is activated for live trading. Clients gain access to real-time liquidity across selected asset classes with full post-trade support.

It’s worth noting that minimum deposit amounts, transaction limits, and fee structures are not disclosed publicly and are likely negotiated individually based on trading volume and asset type.

24 Exchange’s account opening process reflects the rigorous standards expected in institutional finance, combining strong regulatory oversight with customizable infrastructure for sophisticated trading needs.

24 Exchange Charts and Analysis

24 Exchange is built to serve institutional clients who often rely on external analytical systems rather than traditional in-platform charting tools. As such, the company does not advertise conventional retail charting or technical analysis features on its official website. Instead, the platform’s value lies in its data-driven architecture, API-driven access, and integration-ready environment that supports clients with advanced in-house analytics capabilities.

Institutional users of 24 Exchange typically connect via FIX API, which facilitates real-time data feeds that can be imported into proprietary or third-party trading systems for charting and technical analysis. This integration-first approach provides clients with full flexibility to perform complex market analysis using their preferred tools, including Bloomberg Terminal, MetaTrader (via bridge), or custom dashboards.

The anonymous, no last-look trading environment ensures that price data is clean and reliable, suitable for execution analysis and high-frequency trading models. Clients benefit from consistent tick-level data without pricing manipulation, which is essential for maintaining strategy integrity.

While 24 Exchange does not include native charting features like retail platforms such as MetaTrader or TradingView, its execution transparency and data integrity serve as critical analytical advantages for professional traders. Post-trade data, market depth, and latency metrics can also be integrated into client reporting systems.

This institutional-grade infrastructure caters to clients who prioritize execution quality and market data accuracy over visual charting tools.

24 Exchange Account Types

24 Exchange does not follow the traditional tiered retail account model. Instead, it offers a unified institutional account structure tailored to the needs of professional clients. All services and access levels are based on institutional eligibility, negotiated terms, and integration capabilities.

Note: All trading relationships are individually structured. Leverage, fees, and execution preferences are customized based on client profile and negotiated agreements.

There are no demo, standard, professional, or VIP retail accounts, as 24 Exchange exclusively serves regulated financial institutions, hedge funds, and other qualified market participants.

Do I Have Negative Balance Protection with This Broker?

24 Exchange is a trading platform designed exclusively for institutional clients, such as hedge funds, proprietary trading firms, and banks. As such, it does not offer negative balance protection (NBP), a feature typically provided by retail brokers to protect individual traders from incurring losses beyond their deposited funds.

Institutional Trading and Risk Management

In the institutional trading environment, clients are expected to have robust risk management frameworks and sufficient capital reserves to manage potential losses. The absence of NBP aligns with industry standards for institutional trading, where participants are presumed to possess the expertise and resources to handle the risks associated with leveraged trading.

Regulatory Considerations

24 Exchange operates under the regulatory oversight of the Bermuda Monetary Authority (BMA). While the BMA provides a regulatory framework for financial services, it does not mandate negative balance protection for institutional clients. This regulatory stance is consistent with global practices, where NBP requirements are generally aimed at protecting retail investors.

Implications for Traders

The lack of negative balance protection means that institutional clients trading on 24 Exchange are fully responsible for any losses incurred, including those that exceed their initial deposits. Therefore, it is imperative for clients to implement comprehensive risk management strategies, such as:

• Setting appropriate leverage levels to limit exposure.

• Utilizing stop-loss orders to cap potential losses.

• Regularly monitoring market conditions to respond promptly to volatility.

• Ensuring adequate capitalization to absorb potential drawdowns.

By adhering to these practices, institutional traders can mitigate the risks associated with leveraged trading in the absence of NBP.

24 Exchange Deposits and Withdrawals

24 Exchange is tailored for institutional clients, and as such, its deposit and withdrawal processes are structured to meet the needs of professional trading entities. The platform emphasizes security, compliance, and efficiency in handling financial transactions.

Deposit Methods

Deposits to 24 Exchange are typically conducted through bank wire transfers. This method ensures a secure transfer of funds from the client’s institutional bank account to their trading account on the platform. The use of bank wires aligns with standard practices in institutional trading, providing a reliable and traceable means of funding accounts.

Withdrawal Methods

Withdrawals from 24 Exchange are also processed via bank wire transfers. Clients initiate withdrawal requests through the platform, and upon approval, funds are transferred to the designated institutional bank account. This method maintains the integrity and security of fund movements, adhering to institutional standards.

Processing Times

While specific processing times are not detailed on the website, bank wire transfers generally take 1 to 3 business days to complete, depending on the banks involved and the jurisdictions of the sending and receiving accounts. 24 Exchange aims to process transactions promptly, ensuring minimal delays in fund availability.

Fees and Charges

The website does not explicitly state the fees associated with deposits and withdrawals. However, clients should anticipate standard bank wire transfer fees, which may vary based on the banks and countries involved. It’s advisable for clients to consult with their banking institutions to understand any applicable charges.

Minimum and Maximum Transaction Amounts

24 Exchange does not publicly disclose minimum or maximum transaction limits for deposits and withdrawals. Given the institutional nature of its clientele, transaction sizes are typically substantial, and limits, if any, are likely determined during the account setup process based on the client’s trading profile and agreement terms.

Security Measures

To safeguard client funds, 24 Exchange implements robust security protocols, including:

• Secure banking channels: Utilizing reputable banking institutions for fund transfers.

• Compliance with regulatory standards: Adhering to the guidelines set forth by the Bermuda Monetary Authority (BMA).

• Internal controls: Employing stringent internal procedures to monitor and authorize fund movements.

These measures ensure that all financial transactions are conducted securely, maintaining the trust and confidence of institutional clients.

Support Service for Customer

24 Exchange provides tailored support services exclusively for its institutional client base. Unlike retail trading platforms with 24/7 chatbots or mobile support apps, 24 Exchange emphasizes direct, human-assisted communication through structured professional channels.

Available Support Channels

Support is available via the following methods:

• Email Support: Clients can reach out through designated email addresses listed on the website, segmented by product line (FX, Crypto, Equities). This ensures queries are handled by specialists with expertise in the relevant asset class.

• Institutional Sales Contacts: Each trading division has a dedicated institutional sales contact. These professionals assist with onboarding, platform integration, and ongoing trading inquiries.

• Phone Support: Contact numbers for different departments are listed, allowing clients to speak directly with relevant team members for operational or technical issues.

Languages and Availability

While the website does not specify multilingual capabilities or operating hours, it is expected that communication is primarily conducted in English and aligned with global institutional business hours. Given its 24/7 trading model, especially in FX and crypto NDFs, clients may expect extended support availability, particularly for urgent operational matters.

Service Structure

Support from 24 Exchange is relationship-based, meaning clients work with assigned representatives who are familiar with their trading setup and operational needs. This model ensures continuity and personalized service rather than impersonal ticket-based systems common in retail platforms.

Documentation and Self-Service

The platform does not offer a public knowledge base or FAQ section. All onboarding documentation, FIX specifications, and operational guides are provided privately to approved clients during the integration process.

In summary, 24 Exchange offers high-touch, professional support aimed at meeting the complex needs of institutional clients — a reflection of its commitment to service quality and operational reliability.

Prohibited Countries: Where Can I Not Trade with this Broker?

24 Exchange operates under strict regulatory frameworks and compliance standards, which necessitate restrictions on offering services in certain jurisdictions. These restrictions are primarily due to international sanctions, anti-money laundering (AML) regulations, and other legal considerations.

Restricted Jurisdictions

While 24 Exchange does not publicly list all prohibited countries on its website, it explicitly states in its operating procedures that users from jurisdictions where the use of its services is not permitted are restricted from accessing the platform. This includes, but is not limited to, countries subject to comprehensive international sanctions.

Commonly restricted jurisdictions for financial services, based on international sanctions and regulatory compliance, include:

• North Korea

• Iran

• Syria

• Cuba

• Sudan

• Crimea region of Ukraine

• Russia

• Belarus

• Venezuela

• Myanmar (Burma)

• Democratic Republic of Congo

• Somalia

• Yemen

• ZimbabweWikipedia+9Wiyre+924k Markets+9CoinList+1Wiyre+124k Markets

These restrictions are in line with global financial regulations and sanctions lists, such as those maintained by the United Nations, the U.S. Office of Foreign Assets Control (OFAC), and the European Union.

Compliance Measures

To ensure adherence to these restrictions, 24 Exchange implements rigorous compliance measures, including:

• Know Your Customer (KYC) procedures to verify the identity and jurisdiction of clients.

• Anti-Money Laundering (AML) checks to prevent illicit financial activities.

• Ongoing monitoring of transactions and client activities to detect and prevent prohibited conduct.

These measures are designed to prevent unauthorized access and ensure that the platform operates within the bounds of international law.

Client Responsibility

Prospective clients are responsible for ensuring that their use of 24 Exchange’s services complies with all applicable laws and regulations in their respective jurisdictions. Engaging with the platform from a prohibited country may result in account suspension or termination.

Special Offers for Customers

24 Exchange is a trading platform designed exclusively for institutional clients, such as hedge funds, proprietary trading firms, and banks. As such, it does not offer special promotions, loyalty programs, or incentives that are typically found on retail trading platforms.

Institutional Focus

The platform’s primary objective is to provide a cost-efficient, seamless, and secure trading environment for institutional participants. This focus on institutional clients means that 24 Exchange prioritizes:

• Customized trading solutions tailored to the specific needs of each client.

• Competitive pricing structures based on trading volumes and asset classes.

• Direct integration with clients’ existing trading systems via FIX API.

Absence of Retail-Oriented Promotions

Given its institutional nature, 24 Exchange does not engage in marketing strategies aimed at attracting individual traders. Therefore, clients will not find:

• Welcome bonuses for new account openings.

• Referral programs for introducing new clients.

• Cashback or rebate schemes based on trading activity.

Emphasis on Long-Term Partnerships

Instead of short-term promotional offers, 24 Exchange focuses on building long-term relationships with its clients by:

• Providing transparent and reliable execution across various asset classes.

• Ensuring regulatory compliance through oversight by the Bermuda Monetary Authority (BMA).

• Offering dedicated support to address the unique requirements of each institutional client.

In summary, while 24 Exchange does not provide traditional promotional offers, it delivers value through its commitment to operational excellence, regulatory compliance, and tailored services for institutional trading needs.

24 Exchange Review Conclusion

24 Exchange has carved out a distinct position in the financial services industry as a regulated, multi-asset trading venue built exclusively for institutional clients. Since its establishment in 2018, the platform has focused on providing seamless access to global markets while maintaining rigorous regulatory standards through oversight by the Bermuda Monetary Authority (BMA).

One of 24 Exchange’s most distinguishing features is its 24/7 operational model, which allows clients to trade continuously across different asset classes — from Spot FX and FX NDFs to Crypto NDFs, with plans underway for U.S. equities trading. This around-the-clock accessibility provides a significant advantage for institutions operating in a global context, where liquidity and timing are critical.

The platform’s proprietary infrastructure offers ultra-low latency and supports FIX API connectivity, making it well-suited for high-frequency and algorithmic trading strategies. Moreover, 24 Exchange uses a no last-look execution model, ensuring fair and transparent trading conditions — a valuable trait in an environment where execution quality is paramount.

While the platform does not support retail trading or offer promotional incentives, it compensates with high-touch support, custom liquidity solutions, and anonymous matching — all tailored to meet the sophisticated needs of its clients. The lack of native charting tools or publicly visible performance metrics is mitigated by the platform’s focus on FIX-based integration, allowing clients to use their own preferred analytics systems.

From a security standpoint, 24 Exchange operates with strict KYC, AML, and compliance measures, adhering to international standards. The firm’s licensing under Bermuda’s Digital Asset Business Act (DABA) further enhances its credibility, particularly for crypto-related instruments.

In conclusion, 24 Exchange is a reliable and forward-looking trading venue for institutional participants seeking efficiency, regulatory assurance, and multi-asset market access. It may not serve the general retail audience, but for professional trading firms looking for a robust, integrated, and regulation-aligned solution, 24 Exchange is a compelling option.

Summary and Key Takeaways

24 Exchange is a purpose-built trading venue tailored exclusively for institutional clients, offering seamless and secure access to a diverse range of asset classes, including Spot FX, FX NDFs, Crypto NDFs, and upcoming U.S. equities. Founded in 2018 and headquartered in Bermuda, the platform operates under the regulatory oversight of the Bermuda Monetary Authority (BMA) and holds a Digital Asset Business Act (DABA) license, underscoring its commitment to compliance and transparency.

The platform is powered by proprietary technology that supports FIX API connectivity, low-latency execution, and 24/7 trading availability, making it ideal for high-frequency and algorithmic strategies. Its no last-look execution model and anonymous trading environment promote fairness and execution integrity.

While it lacks support for retail traders and promotional incentives, 24 Exchange compensates with customized trading solutions, high-touch support, and a strong regulatory framework. All deposits and withdrawals are processed securely through bank wire transfers, and onboarding is handled through a structured institutional process.

In summary, 24 Exchange is a highly specialized, compliant, and performance-oriented trading platform for professional market participants. It offers a solid infrastructure for institutions seeking efficient access to global markets without compromising on transparency or regulatory standards.

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About Author

Robert J. Williams

Robert J. Williams, a finance graduate from the London School of Economics, dove into finance clubs during her studies, honing her skills in portfolio management and risk analysis. With a career spanning prestigious firms like Barclays and HSBC, she's become an authority in asset allocation and investment strategy, known for her insightful reports.

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