January 13, 2021

Trade 24 Review


Be it the newcomers or experienced traders, everyone will have a little difficulty in recognizing these scam brokers. Worried about putting your money in the wrong place with the wrong company? Don’t worry; we are here to help you with that. We will review these scam brokers one by one and help you make a wise decision based on our reviews. Today we are going to review a company that goes by the name Trade 24. Trade 24 is the brainchild of Payopt Service DOO and claims to have a license from Anguilla.

About Trade 24:

Even though Trade 24 claims to be a regulated company and states that it has a license, there is no proof for this fact. Moreover, the place where this company claims to have its base of operations at is Anguilla which is an offshore zone and a part of the Caribbean. Now, as some of you must know the offshore zones such as Caribbean are not regulated by any of the authorities and trading is not managed properly. Thus, it is a very common tactic of these scam brokers in order to convince the innocent victims and steal all their money. These scam brokers would start by spamming your phone with messages and calls where they will explain their unrealistic schemes and impractical profits that the customer can earn if they invest with the scam broker. The customer would then proceed to believe in these blatant lies and start depositing their money in one of their so called lucrative schemes. The fraud brokers would pretend to be the most hospitable and down to earth people when the customer is depositing money. Gradually, when the customer starts having doubts and asks to process the withdrawals, these scam brokers will start blocking the innocent customer. They will close his or her account without their consent or prior knowledge. Then, they will vanish without a trace, leaving the poor innocent victim with no money.

Trade 24 offers trading in forex and CFD. Founded in 2007, the company claims to give an advanced and different platform for their customers to trade and invest in. Trade 24 provides a Meta Trader 4 (MT4) on the website and also provides a mobile version that is compatible on the mobile phones. The company also claims to have a very responsive customer care which includes phone call, emails and live chat over the internet. Even though this broker states all of this on their website, we are not yet sure on how many of these options work and how responsive they actually are. The company offers 4 different trading account options by the names, Mini, Gold, Platinum and ECN. There is not much differences in between these four accounts except the minimum deposit required. Trade 24 also provides a variety of languages on the website such as, English, Portuguese, Spanish, Russian, French, Italian and Arabic. They also offer four different options for transactions such as credit card, wire transfer, skrill and NETELLER.

Is Trade 24 a scam or legit?

Trade brokers are plenty in the market. With everyone assuring better promises than others, the trade market has become a difficult competition. Among these trade companies, there are many scam brokers and cybercriminals hiding behind the legitimate brokers waiting to trap their victims. Trade 24 is a scam broker and we strictly recommend our readers to not trade with this fraud company.