In an industry as big as this one, not all brokers are sincere and genuine, unfortunately. There will always be individuals or companies that want to make a quick buck at the expense of other traders. They promise a lot of things they never deliver and then disappear with your money. Sometimes, good companies just go bad for whatever reason and start doing things that hurt their clients. Fortunately, all these cases are not that common but we have to warn you when we find one. That’s the reason for issuing this Trade 24 scam warning. Read on and see what we found out!
Trade 24 Scam Warning | A spike of complaints
Trade 24 has actually been a part of this industry for quite some time now, seeing that they were launched in 2007. Because of that, people can easily make the mistake of trusting them, and that’s why this Trade 24 scam warning has to be issued. Recently, there has been a significant increase in the number of complaints regarding withdrawals, so that gave us the reason to dig deeper. Given the fact that this company has never applied for a license from any major regulatory body, traders should be particularly careful when they see a spike in complaints. Being on the market for that long and not asking for a license is pretty suspicious, but that’s not what prompted us to write this Trade 24 scam warning. Read on and see the real reason.
Trade 24 Scam Warning | Fake license?
Earlier this summer, the IFSC, a regulatory body from Belize, issued a statement saying that their license presented on Trade 24’s website was not genuine. Now, when you get a notice like this from a serious regulatory body, you can be sure something is very wrong. No reliable broker will ever try to pull a stunt like this, so we simply had to issue a Trade 24 scam warning. Even if you actually managed to withdraw your money from them, you simply can’t feel safe trading on their website anymore. Not to mention that the IFSC’s claim was backed by England’s FCA which also warned traders that they cannot count on any kind of protection when dealing with an unregulated broker. Taking all of these facts into consideration, we can only advise you to stay clear of this company, at least for now. Check out our Best Forex Brokers tab to find a suitable replacement.
Trade 24 Scam Warning | Conclusion
After all this, there isn’t much left to say. It’s really sad when companies like this don’t respect their clients and insult their intelligence with fake licenses. For that, we think that this company is not worth even a click. There are plenty of other, more reliable brokers out there, and we are sure you can find one that suits you perfectly. Hopefully, this Trade 24 scam warning helps because we’d really hate to see people lose any more money to someone like this. Stay safe and good luck!