When you see the name of the broker, 247FxOptionTrade, you can immediately understand that something is not alright. Legit, regulated brokers have a name easy to memorize and not trying to confuse clients they are someone else. This is exactly what 247FxOptionTrade is doing.
Is 247FxOptionTrade regulated? Where is it based? Let’s start our 247FxOptionTrade review and see.
|Regulated by:||No regulation|
|Headquarters Country:||The UK|
|Supported Platforms:||Web trader|
|Cryptocurrencies:||Yes (BTC, ETH, LTC)|
|Types of Assets:||FX, cryptocurrencies|
|Free Demo Account:||No|
|Accepts US clients:||No|
247FxOptionTrade Regulation and Security
The brand claims to be owned by the company Forex and Crypto Protrading Ltd, based in the UK. Also, they put on the website a fake certificate of being incorporated in Wales and certified by Companies House in Cardiff.
What’s Wrong With 247FxOptionTradeRegulation?
As a UK-based broker, the company needs to have the FCA regulation. When we’ve checked the FCA register, we found a warning against 247FxOptionTrade, not a confirmation of legitimacy. Therefore, 247FxOptionTrade regulation does not exist, and the license number they provided on their website is fake.
Be aware of the 247FxOptionTrade scam!
Warnings From Financial Regulators
As we mentioned before, the broker is not regulated by FCA, rather blacklisted by this regulatory body. Seems that the number the company added on the website belongs to a UK-regulated company Tickmill UK Ltd that has no connections to 247FxOptionTrade broker.
Be careful when opening an account with FxOptionTrade.
What Trading Platforms Are Available?
When it comes to the 247FxOptionTrade trading platform, only a web trader is available. This option is not safe, since the broker can change market prices and your trades according to its wishes.
The leverage is nowhere provided, meaning that your funds are exposed to high risks with this broker.
The 247FxOptionTrade minimum deposit is also unknown, as it’s not listed anywhere on the broker’s website. The only way to make a deposit is via Bitcoin, which is also very suspicious. The broker is providing two websites calling them “partner websites” where you can buy Bitcoin, and then transfer it to the trading company. If anything goes wrong, you have no guarantee to get the money back!
Scammed by 247FxOptionTrade broker? What to do?
What happens if you get scammed by a 247FxOption trade broker? There is a possibility to get your money back. You are not the only victim of the 247FxOptionTrade scam. File a dispute and request a chargeback. In order to help you with that, you can contact our staff via chat immediately.
Book your free consultations and let’s get the money back now!
What is 247FxOptionTrade?
247FxOptionTrade is an online trading broker based in the UK with no regulation.
Is 247FxOptionTrade regulated?
The broker is based in the UK but does not have FCA regulation. It is actually blacklisted by the FCA as a scam clone firm. Be careful!