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21IncPool Review -is it scam or safe?

21IncPool Review - is 21incpool.com scam or good forex broker?

RATING: 1 / 0 REVIEWS 21IncPool
21IncPool is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


Trading Accounts and Conditions

 

Trading account Min. deposit Min. trade size Max. leverage Spread
Crypto  N/A 0.01 1:25 from 1.6 pips
Crypto & Forex  N/A 0.01 1:100 from 1.2 pips
Islamic N/A 0.1 1:1000 from 0.4 pips + $7.50 / lot

 

21IncPool is a UK-based forex and CFD broker that appears to mainly attract clients by its cryptocurrency trading offer. Its clients are provided with access to the MetaTrader 4 platform and can allegedly choose between three account types.

 

However, 21IncPool lacks what we find most important: financial regulation.

 

 

21IncPool Advantages

 

Seemingly good trading conditions

It seems that the trading conditions offered by 21IncPool are overall attractive. The maximum leverage provided to clients reaches 1:1000, so even the most aggressive traders will be well-suited. Besides, the announced spreads are not bad, and when we tested 21IncPool‘s MT4, we found the benchmark EUR/USD spread floating around 1.3 pips, which is within the average  for the industry.

 

 

For further information on trading costs, you can check out the spreads of some leading forex brokerages.

 

>> Real-time comparison page <<

 

 

MT4 available

Another strong side of 21IncPool is the fact that it supports MetaTrader4 (MT4) and that is always good news. The MT4 is a reliable platform, light and intuitive, featuring plenty of charting tools, market indicators and the option to run automated trading bots (EAs). Furthermore, one can easily modify these EAs on an in-build editor. Here you may also want to check our list of brokers, offering MetaTrader4:

 

 

>> Check out the best MT4 brokers <<

 

 

21IncPool Disadvantages

 

No company name, no financial regulation

We searched high and low in 21IncPool’s website, but could not find any proper corporate information. The broker only says it is based in London, UK, and also claims to be regulated, but fails to even mention a company name. Its website also features no address, no contact number, so we can safely conclude that 21IncPool is not licensed and that its service is basically anonymous.

 

This is undoubtedly the most serious disadvantage of this broker and the main reason why we cannot recommend 21IncPool. Most unregulated brokers are involved in some sort of investment scam, and those operating anonymously are 99.99% con-artists. The worst part in such cases is that clients that have fallen victim to such anonymous scams have no legal options afterwards. 

 

Initial deposit not specified

Another red flag with regards to this company is that it has not fully disclosed its trading conditions. More specifically, 21IncPool has not specified the minimum initial deposit required for real accounts.

 

Somewhat limited demo offering

According to the information on its website, 21IncPool offers more than 2000 tradeable assets. However, when we tested the broker’s platform in demo mode, we saw less than 30 FX pairs, CFDs on Gold, Silver, Bitcoin, Ethereum, Ripple, Litecoin and Bitcoin Gold. That was all. Of course, it is possible that the trading portfolio of live accounts is more diversified.

 

 

Conclusion

 

Although the trading conditions of 21IncPool seem good and it supports the ever popular MT4, we gave this broker a rating this low, because its service is anonymous and it is not regulated. This means that clients of this brokerage are open to substantial risk, and have no authority to turn to in case they have legitimate complaints.

 

As always in such cases, our best advice is to avoid all kind of financial service providers who are not transparent about they offer and/or the company behind them, and who don’t hold licenses issued by reputable financial authorities. Speaking of reputable regulators, one of the most prominent ones is the Financial Conduct Authority in the UK.

 


>> A list of FCA regulated brokers <<

 

 

To sum up our recap of 21IncPool in a few words:

 

Pros Cons
Supports the MT4 No company name, no contact number
Seemingly good trading conditions Not regulated
  Initial deposit not specified
  Somewhat limited demo offering

 

Latest news about 21IncPool
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Traders` reviews for 21IncPool

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