24forextrades is a scam 24forextrades.com

By Shawn postoak, from United States, November 18, 2021 at 12:49 AM

Please look into 24forextrades.com The person that was trying to get me to use his company which went by nick syiek showed me his license from Nevada which came up as a different person and the license was expired. This company I’m almost for certain needs to go on your lists as scam.

Answer: Hi Shawn postoak,

Despite the broker’s claims to be authorised by FCA, ASIC & FSCA authorities, 24forextrades is not regulated. The broker does not provide any information about its licenses and the addresses mentioned on the website are quite confusing. The first address is in California, USA, however, the broker is not regulated in the USA. The second one is in Jakarta, Indonesia, where there are no foreign exchange controls in Indonesia. 

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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