24markets Review (24markets.com) FRAUD EXPOSED – 24markets Scam Broker

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24markets (24markets.com)

Conclusion

All of the red flags that you uncover at 24markets all make it clear that you are not dealing with a legitimate brokerage.

Broker Rating

0.1

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24markets (24markets.com) is without a doubt a %100 fraudulent brokerage firm. It is NOT a real broker! Stay away! 24markets scam works by getting you to believe you can become rich by trading with them.

24markets Review

Thanks to the internet, you have everything right at your fingertips these days. Therefore, it does not make sense for you to make any decision today without doing the proper homework and this also applies when you are thinking of engaging in online trading. You will be required to open an account with a broker in order to do so and this means you have to select just one out of the hundreds of thousands that have popped up over the years. But, why do you need to do your homework, which involves going through this 24markets review?

It is because not everything is as it appears over the internet. As a matter of fact, first looks are often deceptive and this is particularly true for the online trading world, which has seen a horde of scams happen over the years. Many of the brokers that operate in the market are actually criminals aiming to exploit people and swindle them out of their money. There have been too many such cases for you to take this matter lightly because it can lead to losses. Do you really want fraudsters to get away with your money?

No one wants to see their money go to waste and the only way you can prevent this from occurring is if you are prepared to do your homework when you are looking for an online broker. This means you cannot just rely on them to tell you everything and should always check everything to ensure everything is as it appears to be. If there are any red flags, you will be able to spot them in your detailed check and this can save you from falling into a trap. You will get the desired results when you take the same approach in the case of 24markets that has a very well-designed website.

At first glance, it looks quite professional and convincing and will have you believing that 24markets is really the brokerage for you. It offers you the chance of trading forex pairs, shares, indices, energy and soft commodities, precious metals and cryptocurrencies with favorable trading conditions. But, are there any red flags? Let’s take a look.

Licensing and regulation

When you are trying to determine the authenticity of any online broker, the best place to begin is their licensing and regulation. A legitimate company would always obtain a license for offering its services because it understands that it adds a layer of security and reassures potential clients about their credibility. It is because the license indicates that the brokerage is under the oversight of a regulatory authority and can be held accountable in case of any disputes. It also guarantees compliances rules, laws and standards, thereby ensuring quality services.

Where does 24markets lie in this regard? It turns out that the brokerage and its parent company are registered and incorporated in Saint Vincent and the Grenadines. This does nothing to help build the broker’s credibility because this is an offshore zone that is notorious for being a hotspot for scammers. This is due to the fact that the regulatory authorities in SVG have outright stated that they do not monitor and regulate their forex markets.

This means that the brokerages that are based in SVG are under no form of oversight and are not subject to any rules and laws. They are free to do what they want, which is precisely what scammers wish for because they do not want their secrets revealed. It means that 24markets is also a brokerage that cannot be trusted and is virtually anonymous because you cannot verify anything it claims. In fact, its website does not provide any corporate address, background or any other details, so you really have no idea who you are dealing with.

Trading platform

You should always take a look at the trading platform of an online broker before deciding to open an account with them. It is the platform that you use for trade execution and for performing your analysis, so it has to be state-of-the-art and not lag in any way because even small delays can result in huge losses where the volatile financial markets are concerned. This is where 24markets tries to attract people because it offers the MT4 and the MT5 trading platform to its clients.

These are recognized as two of the top trading platforms that can be found in the market and are second to none because of their sophisticated features and powerful technology. But, when you check out the platforms that are available on the 24markets website, you are in for a surprise. This is because the link to the MT4 and the MT5 platforms that are given are trial versions of the platform that can be found on their developer’s website.

They have absolutely nothing to do with 24markets, which means that the brokerage does not offer you a trading platform at all. Without a platform, you cannot do any trading and this is a major red flag because 24markets is not offering the tool that is essential for trading.

Trading conditions

Going over the trading conditions offered by an online broker is considered important because these determine your profitability and you may want to do the same with 24markets. But, the fact is that it does not really matter in the long run because, as mentioned above, there is no trading platform on the 24markets website. When you cannot do any trading, there is no point in looking at the trading conditions that are offered to you.

Nonetheless, 24markets is still trying to fool people because it is advertising spreads as low as 1.2 pips. While these are not as tight as some of the professional brokers in the market, they would be considered reasonable if you could actually do any trading. Since you cannot, it does not really make a difference.

Wrapping Up

All of the red flags that you uncover at 24markets all make it clear that you are not dealing with a legitimate brokerage.