Beware 24StarTrade is a Non-Regulated broker. It is NOT SAFE to trade.

  • Company name: 

Finance Group Corp. Cent Projects Ltd. 24StarTrade

  • Registration Address/ License:

Seychelles. Vanuatu. No License or Regulation.

The 24StarTrade claims to be one of the leading online trading providers with a diversified portfolio on over 100+ assets that include Forex, CFDs and Binary Options. The company attracts clients with competitive trading conditions, its rewards and bonuses programs, as well as the regular contests with prize funds of 20,000$ and more.

24StarTrade Review

Nevertheless, the company is not regulated or authorized by any industry regulator to provide its services, while the company even hiding its location and do not mention its office location. However, the affiliated with the brand companies Finance Group Corp and Cent Projects Ltd that promote broker’s services and target clients, are located in Seychelles and Vanuatu. Both are offshore zones, that are not requiring a strict compliance to standards while establishing a financial firm and require only a capital of 2,000$.

Overall, we never recommend trading with non regulated companies that are also based in offshore locations and to choose among Regulated Brokers only. Since trading with a non-licensed company may involve significant risk to lose investment, as the majority of scam brokers never holding any licenses, therefore are not overseen by any authority.

In addition, the New Zealand regulator FMA recently issued a warning to the residents and traders worldwide about the broker’s offering. The regulator warns against investment with the 24StarTrade and flagged its character as a fraud firm, as it is not legitimate to deliver any financial service.

“We have received a report that a representative from Finance Group Corp (FGC) of Vanuatu AND / or Cent Projects Ltd (CPL) of the Seychelles approached a New Zealand resident via Instagram in order to promote dealing through the website www.24startrade.com (the website) and has withheld client funds.”

FMA, 2018

No news available.

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