Warning: Is 24FxTrade a Scam?

24FxTrade (24fxtrade.com) Review

Be cautious of 24FxTrade (24fxtrade.com); it exhibits several signs of a scam.

We found that it is located at 211 Main Street San Francisco, CA, 94105 US, the phone number is '+14156578855, and the support email is support@24fxtrade.com.

24FxTrade presents itself as a investment provider, but it appears currently unlicensed by any credible financial regulator, like the ASIC or CySEC.

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Safety Analysis: 24FxTrade

24FxTrade operates without regulation.

Investing with unregulated entities is extremely risky. Legitimate firms are always licensed with bodies like the FCA, CySEC, or CFTC for your protection.

24FxTrade lacks this supervision. As a result, there is no safety net if they keep your funds. Most investment fraud involve unregulated actors, and recovering funds from them is hard without expert assistance.

For instance, in the UK, unlicensed firms are outside the jurisdiction of the Financial Ombudsman. In the US, they are not members of regulatory bodies, meaning your money is completely exposed.

How They Steal Money

Online trading fraud is evolving. Fraudsters use manipulation to steal wealth. Below are common methods seen in sites similar to 24FxTrade (24fxtrade.com).

Pig Butchering & Romance Scams

The "Romance Scam" is a common tactic where scammers groom victims over months. They build a romance online. Once trust is built, they mention a "lucrative" crypto opportunity. It is a lie to lure you onto a fake platform .

The "Bonus" Trap

Scammers create websites that mimic real trading apps. They have charts and profits that go up. But it is a fake. The broker manipulates the prices to make you feel rich to deposit more. If you ask for a payout, the "profits" are gone.

Red Flags

• Cold Calling: You get calls from "brokers" you don't know.
• No License: The company lacks authorization.
• Guaranteed Profits: They guarantee 1% daily returns or risk-free trades.
• Cannot Withdraw: You cannot get your money out. They demand "tax fees" first.
• Pressure Tactics: Agents push you to invest bigger amounts.

Do not trust fake reviews. Fraudulent brokers frequently post their own 5-star comments to look legitimate.

Conclusion

Our verdict is to avoid 24FxTrade. It appears to be a fraud. Protect your money and use a licensed broker. Avoid 24fxtrade.com at all costs.