Is 247forextrade.online a scam? 247forextrade.online

By Klodea Kryo, from Canada, May 23, 2021 at 01:06 AM

Please look into this company and let me know if they are regulated or a scam! I invested 1,600 in bitcoin and my profit was 48,000 by the next day

Answer: Hi Klodea Kryo,

We have checked 247forextrade.online broker’s details and it seems like this company is NOT regulated. The broker doesn’t provide any information about its regulation. It also claims to be located in Sweden, but there is no proof of being authorised in this or any other country. In other words, 247forextrade.online cannot be trusted.

We would recommend you to withdraw your initial deposit, if it’s possible and stop investing more.

In any case, we never advise trading with a non-licensed broker, since the financial investment service they deliver is not trustable. The reason is simple, the broker may promise the most ever competitive trading conditions or the trading environment, yet the trader has no any guarantee from the official entities that oversee the Forex industry. Thus the engagement to trading with such a companies means the trader will believe only on the broker’s words, and of course, it is a high risk.

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