Is 24funds.io legit? 24funds.io

By Philip walker, from United Kingdom, October 22, 2021 at 12:06 PM

I have been with this broker since August 2021 They froze my account only on 20th October 2021 dating the account not verified It’s now been vertified Just concerned on getting any money back They say they are based in Larnaca But won’t give me a telephone number to call their office Am suspicious now of 24funds.io Thanks for any help

Answer: Hi Philip walker,

According to the 24Funds’s website, the broker is owned and operated by the Dominica-registered company. Indeed, the Dominica governmental guidelines and compliance with the laws mandates financial sector regulation, yet do not cover the Forex business yet and are rather just a registration of an entity without particular settlement standards that may ensure safe trading environment.

Unfortunately, we know a lot of cases, when offshore-registered brokers simply refused to withdraw client’s money and kept on making excuses or ask to deposit more. We would recommend you to stop investing with this company and report about the issue to your local financial regulatory authority.

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