24Funds Detailed Review

While 24Funds may seem like an immense option with a friendly-looking website and solid trading conditions, it cannot be further than the truth. Read our 24Funds review to find out everything about this illicit offshore operation.

What About 24Funds Regulation?

24Funds is owned by Samiki Partners Ltd, a company registered in the Commonwealth of Dominica. Since this offshore country is not entirely known by firm regulations, we’ve checked whether 24Funds even obtained any license. As you can already guess, the answer is negative. There are no regulations, and any funds you invest with this shady trading firm are at risk.

When trading, ensure to find Tier1 regulated brokers since these companies have compensation funds and keep your money in segregated accounts.

In addition, we strongly advise you not to invest in FX Capital Group, Truexoption247 and Elcomercio24 fraudulent brokers.

24Funds Warnings From Financial Regulators

Based on numerous complaints, the Spanish regulator CNMV issued an official warning, stating that 24Funds is an unauthorized trading firm and has no permission to provide any kind of financial services.

Later, the same warning was republished by the Italian CONSOB…

…Also by the Belgian FSMA.

Finally, Slovenian A-TVP took the Spanish warning seriously and warned its citizens not to be involved with 24Funds.

Fund Withdrawal Issues With 24Funds Broker

With all the complaints and regulatory warnings, it’s not hard to guess that the biggest issue clients face is withdrawals. The broker doesn’t approve any withdrawal requests. In fact, it goes up to the point where clients’ accounts are being frozen and access suspended if they insist on getting their money back too much.  

Don’t let any fraudulent investment firm keep your money. Instead, file a report immediately and get it back.

Areas Of 24Funds Trading Scam

The broker is mainly active in Spain, the UK, Germany, and Canada, according to reviews. Furthermore, we’ve seen complaints from the Netherlands, Austria, Australia, and more. If you’ve had a negative experience with 24Funds brokerage, make sure to contact us immediately and tell us your story.

24Funds Web and Mobile Trading

The broker provides Web trader and MT5 platforms. Both are available for Android and iOS mobile devices through a dedicated app. However, since you’re looking for higher security, MT5 should always be a preferred option. As an MT4 successor, it has the largest number of trading charts and indicators while including EAs and social trading. With a Web trader, you’re less safe and have fewer options for comfortable investing.

Yet, we need to remind you that the broker is illegal, and any money you invest may easily disappear.

Traders About 24Funds Scam

Since the company is causing problems with withdrawals, as you can tell, most reviews are quite negative. Clients are expressing what they’re going through, how their initial deposit or the alleged profit has just disappeared once they have submitted withdrawal requests, and how they don’t have a solution for a problem.

If you’re one of the victims of the 24Funds scam, contact us right away.

How Does Online Trading Scam Work?

There are many different online trading scams – by regulated or unregulated brokers, offshore or based in reputable countries. What’s common for all is the fact that they will refuse to approve your withdrawal request once the time comes. You’ll simply be ignored, without a possibility to reach anyone at the company, since they’re not willing to deal with you once they have taken everything.

Sadly, this happens on a daily basis and the best thing to do is file a dispute for a chargeback.

Deposit Bonuses As A Scam Tactic

As you can see on the broker’s main page, 24Funds immediately gives a deposit bonus of up to 20%. You don’t know that this bonus implies that you cannot withdraw your profit until you reach 25 times the bonus plus the deposit amount. This means it can take months before you’ll be able to get your funds out. Also, the broker claims the right to keep any profits made with so-called non-deposited funds, so your profit may easily never be paid out and with a legitimate reason.

Also remember the names of the Investor500, 24trading and Forex48 trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!

Scammed by 24Funds? – Tell Us Your Story

If you were scammed by 24Funds, let us know. We may be able to assist you in filing a dispute for a chargeback before it’s too late.

But What Is A Chargeback?

This is a way for your bank to reverse the transaction if you have been scammed. Contact us via online chat and let us handle everything for more details. Book a free consultation and watch while professionals are helping you get your money back now.