Is FXT24 Scam or Legit Broker?

It is not safe to trade with FXT24, because it is an unregulated broker. In addition, the company has been suspected to be a fraud. While we checked the company there is no authorization or registration of the address, therefore the company seems to be highly suspicious and might operate its services from an absolutely different location.

About FXT24
🗺️ Registered inNo Registration
🗺️ Type of LicenseNo License
🛡️ Is FXT24 safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerIC Markets - licensed by ASIC in Australia

What is FXT24?

FXT24 is a web-based Foreign exchange brokerage. The info on the website says that the company operates from London, United Kingdom. Although the company is not regulated in the UK.

  • As to the regulation, they say that FXT24 brand is authorized and regulated in various jurisdictions. So they mention jurisdictions without naming them or giving out legal info about their licenses.
  • We don’t recommend dealing with this broker, as the biggest issue is regulation, meaning – the lack of it. In addition, FXT24 was also blacklisted by the Spanish regulator CNMV.
  • We recommend you trade with serious and reliable regulators, such as FCA in the UK and FMA in New Zealand. For example, the license from UK’s Financial Conduct Authority requires EUR 125,000 of capital (aside from client deposits) for the STP license. The regulator also protects customers when authorized financial services firms fail. Here you may check our list of brokers licensed by the FCA.

FXT24 Review Conclusion

We strongly advise opening a trading account only with brokers regulated by respected world authorities that comply with the required set of rules and a good reputation through the delivered timeframe of operations. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as Eightcap and BlackBull Markets.


FXT24 Update

Our findings showed that FXT24 is no longer active. The broker’s website is unavailable to reach. Besides, there is no evidence of whether the broker operates or not. We recommend avoiding any offshore-based brokers due to their instability and lack of serious regulations.  

No news available.

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