Warning! N247i.com is an offshore company! Your deposit may be at risk.
RECOMMENDED FOREX BROKERS
We can easily dismiss N247i.com for being a scam and a risk to all. This was obvious the moment we gazed at it. Yet, for some readers the reasons may still be obscured- that’s what this review is for. We wanted to give all users a reason not to trust this broker, and we think we have done a solid job, although N247i.com did not make the job hard. N247i.com is shameless in its attempts to scam rookie traders. Read on to find out more.
As evidenced by the complete lack of regulatory or registration information, N247i.com turns out to be completely anonymous, with no information whatsoever to guide us. Anonymous brokers are the biggest risk of all, because no common user can trace them down.
Moreover, as it turns out at a certain point we reached the conclusion that N247i.com was actually a very limited site, seeming like half of its content was useless and uninformative, not to mention buggy. This is what a lack of a license brings about.
N247i.com is unregulated. This much is obvious. It fails to hide this fact. All investments are at a risk of being stolen.
Investing in unregulated brokers is the digital equivalent of throwing your money away for the wind to disperse it. It’s obvious that no one would do such a thing. Go with brokers that are regulated by trustworthy organizations like the FCA or CySEC. These entities work closely with the law, enforce it when called for, and have strict requirements for those under their gaze. Not to mention that those under their jurisdiction are members of compensation funds that cover victimized clients’ losses of up to £85 000 (FCA) and €20 000 (CySEC).
Another more delicate and unnoticeable sign that N247i.com is a scam is the fact that there are no terms and conditions, only AML and KYC policies. A company’s terms and condition are the most important documents and without them the relationship that the firm has with the user is broken down to a lawless interaction.
We failed to register after trying a couple of times. The broker wouldn’t let us in, and this is not the first time something like this happens. It occurs when a broker does not find us a lucrative target and thus turns its head around ignoring our requests. The issue with this is that we have to take all the trading and payment details from the site of an unregulated entity.
From the site we gather that the leverage is capped at 1:500. No mention of a spread has been revealed. The promoted tradeable assets are forex currency pairs, indices, commodities, stocks and cryptocurrencies.
As it turns out, we could not access the user area, and as you might no there is no trading software without a registration.
All the links that the site gives that are connected to a trading software redirect us to the account creation page.
So, we cannot make out the trading software. Normally, it’s some simple web trader that looks decent enough to lure in users but not retain them for long.
N247I.COM MINIMUM DEPOSIT
According to the website the minimum deposit is $250. This is pretty standard, as most brokers, bot regulated and not apply this minimum requirement. However, the problem here is that the payment information is taken from the site, so it may not be as accurate as we would like to have it.
There isn’t more to talk about. The broker has not disclosed any payment methods nor any further deposit information.
DON’T PROVIDE YOUR CREDIT CARD CVV CODE
The CVV code is the one thing that separates a buyer from a product. Without it, one cannot complete a purchase, even if him/her has given all other necessary information. By giving this detail to someone else, you are essentially inviting them to use your funds for their own means. And be warned that unregulated brokers most certainly plan to do so.
DON’T PROVIDE ACCESS TO YOUR COMPUTER AND BANK ACCOUNT VIA ANYDESK OR TEAMVIEWER
Be sure to never give AnyDesk or TeamViewer access to your PC to unverified agents. These 2 platforms allow for your PC to be taken over by a second party, oftentimes for help or guidance, but in the case of these brokers for the sole purpose of looting your bank account(s) and personal information. However, in order to do so your consent is needed, and this is the only thing standing in the scammers’ way.
N247I.COM WITHDRAW TIME AND FEES
As a final major scammer element, as if what we just disclosed was not enough, we present to all of you the complete lack of withdrawal details so common for unregulated brokers.
These details are crucial for any self respecting broker, and seeing that this one has none to offer only account to N247i.com’s fraudulent nature. And even if it did offer certain withdrawal conditions we wouldn’t have trusted them.
Beware, once more, when giving away an ID and a proof of address. Trustworthy brokers ask for these before traders can deposit to make a check up. Deceitful ones will ask for these details, using the anti-money laundering legislation as pretext, once you start asking too many questions and are getting suspicious of their activities. Understand that they will use these to build a stronger case against you in the event that you request a chargeback.
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 most sound advice we could give you is to immediately file for a chargeback with you credit card company.
If you have given away your credit card details including the CVV code to the “broker” you should cancel it ASAP and check with your bank to see the damage inflicted.
Also, beware of self proclaimed “recovery” agencies or agents. These cheeky scammers promise to fix your problem and restore the lost funds. They offer their services in exchange of a small sum from your end, after which you won’t ever hear from them again.
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!
It would be a big mistake to invest in this broker, no matter the size of the deposit. Once N247i.com gets a hold of you you will find that it wont let go that easily. Keep way from this one at all cost!