Table of contents
Trade24x might seem like a quick fix to your problems, seeing as this broker is essentially one dashboard, but do not be fooled by this shallow pond of a broker.
We have well over 100+ reviews, a spectra that offers all sort of delights and disappointments, yet Trade24x is by far the most scandalous one. This broker has no main menu, no sub pages, in fact it has taken the form of a personal dashboard and leaves all the other aspects of a normal broker out of its frame of operation. This is all there is to it:
Beforehand one must either register, log in, or continue without doing neither the former nor the latter (as we did).
There’s nothing more to it than than; no Legal documents, not help center, to trading conditions, no expositions whatsoever.
It’s obvious then that there is absolutely zero mention of a regulation or an address of operation. It didn’t help our cause the issue of our inability to register. We are left with no choice but to conclude that Trade24x is UNLICENSED.
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 to mention that have some solid ground on which they can base their operation. 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).
Just a side note before we move on. The information here cannot get any scarcer than it already is, and in so being many a points will be concise.
For example, the leverage; its value is nowhere stated.
The EUR/USD spread is 0.6 pips, as per the “live” quotes. This is rather hard to believe seeing the state of the broker. There should be a commission attached to it, but of course we cannot know for sure.
The only instruments that are given to us are 8 currency pairs, all major.
There is no option to change the language, that is by default English.
The dashboard looking broker doesn’t even have a trading platform. There is a widget indicating certain prices for the EUR/USD pair and that it. We would like to say more, but our hands are tight. Without a trading platform this alleged broker seems to distance itself even further from what it ought to be.
TRADE24X MINIMUM DEPOSIT
The minimum deposit amount is unknown. There is literally no information on deposits. There isn’t even a given chance to deposit, making us think that the makers of this “site” have abandoned the project.
Forget about depositing methods: there are none.
This is the time we warn you against making a deposit with this broker, but since that option is unavailable we can only talk against the eventuality of depositing. Don’t do it; this broker is by far one of the worst examples of a scammer. Brokers with proper licenses from the FCA and CySEC (among others) operate in ways that put the trader’s security of funds and personal information as a pivotal priority. These agencies are the top non-US financial license issuers, which should give you an idea of the brokers working under their oversight.
DON’T PROVIDE YOUR CREDIT CARD CVV CODE
The three digit CVV code is essential to making purchases or completing transactions online. By handing this info to someone claiming to be a broker, your are exposing your savings to the biggest risk of all!
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, often times 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.
TRADE24X WITHDRAWAL TIME AND FEES
At this point should we even bother with it? For the sake of our readers, we have to apply what was said about the deposits directly onto the withdrawals. Withdrawal requests are as easy as typing an amount and clicking Submit. The request is sent to an unknown entity and is, almost certainly, lost forever.
There are no fees, no processing time, no nothing. The page remains blank.
ADDITIONAL FEES AND TAXES
In the impossible event that this broker actually starts operating, those stubborn enough to still hold on to it should expect incoming fees and commission, since there are no agreements to which traders have consented to. Beware that Trade24x will surely never allow you to withdraw back any amount. 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.
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.
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
Filing for a chargeback is the best advice we could give you. Immediately contact your bank or credit card company and lay out the circumstances.
Cancel your credit card if you have shared any notable details with the fraudulent broker, especially if you have provided them with the card’s CVV code. If such is the case, annul your credit card ASAP.
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!
This is a short review, and we are fully conscious of that. Yet there is nothing here to produce any kind of commentary from us. At the end of the short road we can only point you as far away as possible from this ridiculousness.
Trade24x compared to other brands
United Kingdom, Cyprus, South Africa, Mauritius
Cyprus, Saint Vincent and the Grenadines