Is Trade24 Scam or Legit Broker?

It is not safe to trade with Trade24, because it is an unregulated broker. In addition, the company has been suspected of being 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 Trade24
🗺️ Registered inNot Regulated
🗺️ Type of LicenseNo license
🛡️ Is Trade24 safe to trade?No
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerGO Markets - licensed by ASIC in Australia

What is Trade24?

Trade24 is a Forex and CFD broker. The company is owned and managed by Payopt Services DOO, located in Montenegro.

Although after some research it turned out that Payopt Services DOO is registered in Anguilla (an overseas territory, located in the Caribbean), one of the offshore zones where forex brokers get their licenses.

  • Such offshore registrations are famous for their low cost and the fast process of getting a license. Trade24 has warnings from Financial Services and Markets Authority in Belgium and Ontario Securities Commission in Canada.

All these facts show that the broker is most probably just another scam.

Trade24 Review Conclusion

We recommend avoiding trading with unregulated brokers as there is a high risk of investors losing their money. Instead of signing with Trade24, it is safer to choose among trustworthy regulatory agencies, such as FCA in UK and ASIC in Australia. Check the lists of the FCA-regulated and ASIC-regulated Forex brokers here.

Trade24 Update

Our research showed that Trade24 is no longer active.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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