24StockTrade

Where to start on 24StockTrade? There are so many wrong things about it, and just by the looks of it it should be obvious that this so called broker is as fake as one can be. The website provides very little information, but we will still write the review in our usual formal style.

We begin with unsurprisingly bad news for the broker. There is zero mention of any regulation, or a location of their base of operation. And judging by the very sloppy nature of their website we must conclude that this broker is simply UNLICENSED, and is an obvious risk to anyone who invests in it.

The website forwards us to one Crypto Africa Network Limited registered as a Private Limited Company in the UK’s Companies House organization.

What this has to do with anything is beyond us. Nowhere does it say that Crypto Africa Network Limited is a holding company, and even if it were it’s not regulated by any proper agency.

We strongly advise traders to trade only with regulated brokers that hold a license from renowned and severe institutions such as the FCA or CySEC. Not only do these agencies oversee operations and require regular reports from brokers registered with them, but those under their jurisdiction are members of compensation funds that cover victimized clients’ losses of up to £85 000 (FCA) and €20 000 (CySEC).

Before we move one we must mention that both the website and the trading platform/dashboard are in an appalling state, and so we will try to best gather all the needed information to conduct a structured review.

With that said, trying to find a leverage is a daring task, one that ended with zero results.

The spread is not worth mentioning, for the platform in place is nothing more than a widget from a third party website that specializes in graphs. So a cost of trading is out of the question. And since there is technically no trading platform, we have no available trading instruments.

The website can be translated in well over 30 languages, but it’s Google Translate that does all the work.

24STOCKTRADE LOGIN

As mentioned there isn’t really a trader, but a messy dashboard with overlapping 3rd party graphs, that are all over the plays.

As you can see, literally everything is off in some way or another: there is no spread and no leverage. Or rather, all the numbers you see are not derivatives of 24StockTrade but of different 3rd party sources.

24STOCKTRADE MINIMUM DEPOSIT

With such a mess on our hands, any proper deposit information is near impossible to grasp. A pop-up message suggests that all payments are made to the company’s bitcoin wallet and not to an account manager.

As for a minimum deposit, we missed it in the midst of this chaos.

This broker is clearly unregulated, and if you choose fund an account with it, it will put you directly at risk of losing all funds. For safekeeping your money, we strongly advise to avoid all brokers who do not have a proper license from renowned regulatory bodies. Agencies like the FCA and CySEC stand out as some of the top license issuers in the world, notorious for their severe requirements and close relationships with the law.

DON’T PROVIDE YOUR CREDIT CARD CVV CODE

Furthermore, for safekeeping your money NEVER share your credit card number and CVV code with a salesperson. All online payments require this 3 digit number in order to complete purchases or transactions, and by giving yours away to some offshore broker may lead only to the complete drainage of funds from your credit card.

DON’T PROVIDE ACCESS TO YOUR COMPUTER AND BANK ACCOUNT VIA ANYDESK OR TEAMVIEWER

A novice mistake that has been numerously repeated and taken advantage of is providing access to your computer and bank account via AnyDesk or TeamViewer. These two softwares allow for others (in our case the people behind the shady brokerage) to log-in to your PC and flip through all files and browsers, essentially taking over your computer as another user and having access to your personal information like bank account passwords, credit card information etc. Thankfully, these platforms are completely legal and will need your own personal approval in order to be used.

24STOCKTRADE WITHDRAWAL TIME AND FEES

The only means to reach any withdrawal information is to actually deposit, and to deposit at 24StockTrade is the last thing we would recommend.

The only withdrawal option we are given is the following

This is it. There is nothing else in terms of withdrawal info; the broker lacks any sort of legal documents.

ADDITIONAL FEES AND TAXES

There are no fees, clauses and commissions mentioned anywhere. Don’t let this soften you up. Brokers that have no regulation are known to launch incoming fees without notice. For this reason they try to postpone any withdrawal request. Either the broker will find a loophole in the terms and conditions that is completely made up, will firmly advise you against withdrawing, or they will ask more deposits needed if one wished to withdrawal. Scammers come up with additional fees and taxes for the sole purpose of keeping you on stand-by, and to deplete as much money from you as is possible.

ACCOUNT VERIFICATION

If a broker is unlicensed, never give you ID and personal details to it, because the broker will use these details against you once you file for a charge back. Furthermore, any allegation held against the brokerage will be easily refuted if they have in their possession a copy of your ID and proof of address.
Traders will sooner or later realize 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.

The most important thing to note is that this broker will not return your deposit, nor will it pay your winnings. It never had this intention in the first place. The best advise is to walk away from it, and go straight for a regulated broker. The FCA and CySEC are the top non-US license issuers, and those under their gaze are bound by the law to put the security of users’ funds as pivotal priority.

HOW TO RECOVER

Filing for a charge back is the best advise we could give you. Immediately contact your bank or credit card company and lay out the circumstances.

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.

HOW TO RECOVER

Filing for a charge back is the best advise we could give you. Immediately contact your bank or credit card company and lay out the circumstances.

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!

BOTTOM LINE

24StockTrade is simply not worth even thinking of. It’s the pinnacle of everything bad about fraudulent brokers. Don’t waste your breath on this one!