de | cn | ru

24StockTrade Review - is it scam or safe?

24StockTrade Review - is 24stocktrade.com scam or good forex broker?

RATING: 1 / 1 REVIEWS ForexBrokerz 24StockTrade
24StockTrade is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS

Scammed by 24StockTrade ? Click here!

Trading Accounts and Conditions

 

Investment plan Min. deposit Max. leverage Spread Profit
Basic  $100 N/A N/A 300%
Primary  $501 N/A N/A 400%
Deluxe $1 001 N/A N/A 500%
Professional  $1 500  N/A N/A 600%

 

24StockTrade presents itself as some sort of investment intermediary. Their offer includes several investment plans with guaranteed hourly, daily or weekly returns. However, as they do not disclose their trading conditions and offer no demo account, we cannot comment on those. Nonetheless, offering such high fixed returns is certainly unrealistic, so if you are considering investing with them be sure to read this review first.

 

 

24StockTrade Advantages

 

None.

 

 

24StockTrade Disadvantages

 

Not regulated, limited company information

Overall, 24StockTrade’s website does not contain much company information - there is no address, no legal documents such as Client agreement, only some registration number and a link to the UK’s company house website with the status of CRYPTO AFRICA NETWORK LIMITED.

 

So, supposedly this is the company operating the 24StockTrade brand. We checked in the online public register of financial services providers in the UK and found no mention of this company, so we can safely conclude that the broker is not regulated.

 

Not clear about its services

As we already mentioned, this broker has not announced any relevant trading conditions, other than the minimum investment amounts required for the various investment plans and the promised returns. It does not offer free testing service either. We always view the lack of information as huge negative, and advise investors to always be as informed as possible before deciding to trade with a brokerage. 

 

In the case of 24StockTrade, it is even not clear what kind of services it provides – trading in binary options, forex, or a cryptocurrency exchange.

 

  

 

Click on any image to view larger. 

 

On the one hand, the broker’s website contains a video which explains what are binary options. However, when we registered with 24StockTrade, we got an email saying that the broker offers a large list of tradeable assets, which includes forex, indices, stocks and commodities CFDs. On the other hand, when we logged into the so called “platform”, we could see quotes from some major crypto exchanges such as Coinbase.

 

Clcik on the image to view full size.

 

No real trading platform. Possibly a HYIP

As you can see from the above image, this is not a real trading platform, but only a dashboard to propel the illusion. Trading here is not possible, only deposits in several cryptocurrencies.

 

Brokers that have no trading platform and only aim at receiving deposits from clients that are unaware of its intentions. This inclines us to suspect that 24StockTrade might be a high-yield investment program (HYIP), or a type of Ponzi scheme. So, you'd better stay away

 

Unrealistic returns

Furthermore, returns as high as 300% (as the ones promised on the most basic investment plan with 24StockTrade) are too good to be true. Investors should be especially wary of such unrealistic offers of guaranteed, fast and easy returns.

 

 

  

As some of you probably know, as of August last year European brokerages are obliged to disclose the percentage of their clients who lose and these go as far as 70% - 80%. In other words, all websites promising skyrocketing returns like 24stocktrade.com are simply fraudsters.

 

 

Conclusion

 

We believe we highlighted enough facts to convince you that 24stocktrade.com is just another scam website.

 

As usual, our best advice in such cases is, don’t deposit any money with any such unreliable brokers operating without a license and providing zero transparency on their services. It is only in the best interest of investors to select among companies that are reliable and licensed by well-established governmental agencies like the FCA in the UK or CySEC in Cyprus. This is the only way to minimize the risk of foul play in the forex and cryptocurrency market.

 

 

>> Our list of reliable crypto brokers <<

 

 

To sum up our impressions of 24StockTrade in a few words:

 

Pros Cons
None Not regulated, limited company information
  Not clear about its services
  No real trading platform. Possibly a HYIP
  Unrealistic returns

 

Latest news about 24StockTrade
No news about 24StockTrade . Check back later.
Forex
Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Cyprus, SVG CySEC MT5, Web,
cTrader
$100 Review Website
Australia, Cyprus ASIC, CySEC MT4, MT5,
IRESSTrader
$100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
cTrader
$200 Review Website

Traders` reviews for 24StockTrade

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

Have I been scammed

Hello im Anna and i invested with 24stocktrade. I have asked to withdraw and did every they aked me and paying verious fees to withdraw.They sent me email on 10th August saying they deposited into my account and that there was a problem with my bank that it wouldnt accept the money.So i called my bank that deals with international money comming in and they told me that no attempt was made. Now 24stocktrade is asking for 12K USD form me so they can deposit mney into my account.
Regards Anna

Anna Deluca 08/20/2019
de | cn | ru