Table of contents
24CryptoExpertOptions feels like a mixture between a legitimate broker and a illicit one. Which one predominates? Read the review to find out.
The website puts 24CryptoExpertOptions in the United States, claiming that it is regulated there. For a broker to operate in the US it must be a member of the National Futures Association (NFA), AND has to be registered as a Futures Commission Merchant (FCM) and Retail Foreign Exchange Dealer (RFED) with the Commodity Futures Trading Commission (CFTC). Furthermore, the leverage in the US has been limited to 1:50. Not to mention that the minimum capital requirement for any broker to be licensed in the US is $20 000 000.
We can safely conclude that 24CryptoExpertOptions is not a company that cannot afford to be licensed in the US. Seeing that there is no mention of regulation, we conclude that 24CryptoExpertOptions is in fact UNLICENSED,and therefore a risk to all!
We urge traders to trade with regulated brokers under the gaze of such agencies as the FCA which not only enforces a strict set of rules and demands detailed reports on company activities, but also includes a compensation fund of up to £85 000 for victimized traders resulting from insolvent brokers.
Once we logged in, we were sent to a poorly looking dashboard that suggests this broker is unprofessional. Anyway, trading conditions are out of question since there is no trading platform, an issue will will discuss in a minute. It seems that even without a trading platform, the broker offers only crypto currency as its main assets.
English is the only language.
The area in the dashboard where the trading platform is usually located consists of 3 separate graphs, each coming from the same third party provider. The values in each of these charts are completely irrelevant to what 24CryptoExpertOptions is allegedly offering as trading conditions. In other words, users cannot trade because there are no trading options presented to him or her.
24CRYPTOEXPERTOPTIONS MINIMUM DEPOSIT
The minimum deposit is $100.
As we have concluded, this unregulated broker is not to be trusted, hence we advise against making any deposits whatsoever. If traders wish to trade in a safe and regulated environment, we recommend any broker that has a license from the FCA/CySEC since these agencies are renowned for their strict law enforcing and protection of clients’ investments and personal information.
DON’T PROVIDE YOUR CREDIT CARD CVV CODE
Never give away your CVV code without first making sure that the broker is regulated by an efficient agency. By giving away your Card info with the CVV code to some unconfirmed person you are literally giving access to your funds, and if these details fall into the wrong hands, rest assured that your bank account will be promptly emptied.
DON’T PROVIDE ACCESS TO YOUR COMPUTER AND BANK ACCOUNT VIA ANYDESK OR TEAMVIEWER
It may or may not happen, but if an unregulated broker asks you to install AnyDesk or TeamViewer and give them log in details, consider yourself very open to a complete drainage of your funds from all your online accounts. These software allow for anyone to access your PC from another station and go through all your files and vital information, including credit card, bank and alternative payment method details. Thankfully, these platforms are completely legal and will need your own personal approval in order to be used.
24CRYPTOEXPERTOPTIONS WITHDRAWAL TIME AN FEES
There is no concrete info on withdrawal fees and waiting time. The only thing we found out was that withdrawals can be requested to be payed out by Wire, Bitcoin, Litecoin, Etherum, and Stellar.
ADDITIONAL FEES AND TAXES
It's a good time to mention that there are no real legal documents. The broker has one T/Cs section on the website that is, frankly, poor in execution. What's more is that there are no important clauses.
24CryptoExpertOptions will try to postpone any withdrawal request. The most popular excuses for denying your withdraw requests are usually smart and for the most part scripted. These include but are not limited to loopholes in the T/C, asking for more deposits in order to withdraw, or just prolonging your pending withdrawal by claiming that the market will suddenly propel, multiplying your winnings by unrealistic proportions.
Traders will sooner or later realise that something is a foot. Filing for a chargeback might not be as easy as it seems if, beforehand, the user has given away a copy of his ID and proof of address to the unlicensed broker. With these in their possession the broker can easily refute any claims you might have against them.
Yet again we urge readers to stay away from this broker as it will, without a doubt, never return your funds and profits. If you wish to to get smooth and efficient transactions, please visit a FCA/CySEC regulated broker, where all withdrawals are handled with care and respect.
HOW TO RECOVER
The only way to recover is by filling for a charge back, and hoping it’s not too late.
If you have given a CVV code to the broker, be sure to cancel your credit card as soon as possible, because the broker will not delay with draining every cent from it.
At some point or another you might stumble upon a “recovery” agent or agency that promises to retrieve all your money back. This sounds all too good to be true, and that’s because it isn’t. Before proceeding with the recovery they will ask a payment for their services. If you chose to indulge them, they will disappear with the money without a hint of remorse.
The last line of defense for these indecent folk is more like a desperate cry: often times they will comment on reviews and cite the whole ordeal as a conspiracy initiated by competitive brokers against them; at times even claiming that reviewers are anything but objective, and that no one writes good reviews. The absurdities are limitless!
24CryptoExpertOptions is a scam, if ever there was one! Do not deposit here; you will loose it all in an instant!
24CryptoExpertOptions compared to other brands
United Kingdom, Cyprus, South Africa, Mauritius
Cyprus, Saint Vincent and the Grenadines