Is FX Options24 a scam or legit broker?

No, FX Options24 is not safe to trade with it . FX Options24 is owned and operated by FX Options24 Group Ltd and claims to be located in Cyprus.

FX Options24 offers to trade FX, metals, CFDs (on shares, indices, commodities, bonds, ETF, cryptos) and exchange-traded Physical Stocks. According to the website, the broker is licensed by the Cyprus Securities and Exchange Commission, the Vanuatu Financial Services Commission, the German Bundesanstalt für Finanzdienstleistungsaufsicht, the British Financial Conduct Authority, and the French Autorité de Contrôle Prudentiel et de Résolution.

FX Options24 review

However, it turned out the broker has just been using the license numbers of the regulated entity JFD GROUP LTD., that is not associated with FX Options24 in any way. We have also discovered another broker that uses JFD Group Ltd. license details, CBFX Global, and has an identical website interface as FX Options24. Neither of them is authorized to provide financial services. Both FX Options24 and CBFX Global seem to be clone firms which just delude customers. You can read our full JFD Brokers review here. 

We advise all investors and traders to avoid FX Options24 and other unregulated brokers. The lack of information about the broker’s regulation, trading conditions, and contact details should be the biggest red flag for those who plan to invest with the entity. Usually, such companies run investment scams. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as Alpari and FP Markets.

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