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24TradeRush Review - is it scam or safe?

24TradeRush Review - is 24traderush.com scam or good binary options broker?

RATING: 1 / 3 REVIEWS 24TradeRush
24TradeRush is not regulated. We cannot guarantee your money is safe.

Trading Accounts and Conditions

 

Trading account Min. deposit  Min. bet size Payout
Standard      N/A $10 up to 83%

 

24TradeRush allegedly offers forex/CFD and binary options trades, but its website fails to reveal any essential trading conditions. It is also unclear whether it offers different account types. More importantly, it presents itself as a CySEC license holder, which proved out to be wrong and furthermore, the entire website of this broker seems to be cloned.

 

 

24TradeRush Advantages

 

Many financial instruments available (allegedly)

24TradeRush claims to offer trading in forex and binary options “side by side” via a single account type, on two trading platforms. Furthermore, according to the information on its website, the broker provides leverage up to 1:50 and tight spreads. All of this seems nice, apart from the OTC binary options, which are illegal across the EU and the US. The problem is that we could not verify any of these claims.

 

 

24TradeRush Disadvantages

 

False claims of CySEC regulation

24TradeRush is allegedly operated by B.O. TradeFinancials, a company regulated by the Cyprus Securities and Exchange Commission (CySEC). In fact, this firm is no longer licensed by CySEC. It used to operate binary options brand 33option and FXTradeOption, both of which now appear out of business.

 

 

Click on the image to zoom in.

 

Trading with unregulated broker is very risky, as investors have no assurance for the security of their funds. If such a broker falsely claims to regulated, it is 99% percent certain that it is involved in scam.

 

A cloned firm and website

As we recently reviewed AceTradeOptions, another shady broker that falsely claims to be operated by CySEC-licensed B.O. TradeFinancials, we have to say that the offering of this broker and 24TradeRush is exactly the same. In fact, the entire website of 24TradeRush is exactly the same as those of AceTradeOptions (click on each of the images below to view larger).

 

 

 

It seems to us that the people behind 24TradeRush have cloned the website of AceTradeOptions, which was blacklisted by CySEC for illegally using the name of B.O. TradeFinancials, with which it is not associated in any way.

 

To cut things short, it appears that 24TradeRush.com is a cloned firm and website, a popular scam tactic for misleading investors they are dealing with a regulated company.

 

Trading conditions unclear, no demo

24TradeRush has not presented any spreads for reference (forex trades), nor payouts, minimum deposit, etc. (regarding binary options trades). Furthermore, the broker does not offer free demo accounts for testing purposes. These are typical signs of a scam brokerage

 

Trading platform not functional, no MetaTrader

We had to sign up as a live trading account holder in order to take a look at 24TradeRush’s platform. It turned out that it uses some unproven web binary options trading interface, which feels fake and is barely functioning.

 

 

As 24TradeRush claims it is offering forex trades, it would be nice if it supported theMetaTrader4 (MT4), but it does not. The MT4 is highly praised in the trading world for its ease of use and professional functionalities. The platform is especially popular for its top-notch charting and support of automated trading via the so called Expert Advisors.

 

 

>> A list of forex brokers using the MT4 <<

 

 

Conclusion

 

24TradeRush seems to offer binary options trading, which has been prohibited in the EU, so the broker is providing these services illegally. What is worse, it tries to mislead investors that it is a brand of a CySEC-licensed company using the number and the name of a former Cypriot Investment Firm, with which it is not associated, much like AceTradeOptions and BinaryTradePlus. We also suspect that the entire website of this broker is cloned.

 

In order to avoid being scammed, it is essential that you deal only with companies that have proven reputation and valid forex broker licenses issued by reputable financial authorities – UK’s Financial Conduct Authority, Australia’s ASIC or Cyprus’s CySEC.

 

 

>> A list of brokers licensed by CySEC <<

 

 

Let’s sum up our recap of 24TradeRush in a few words:

 

Pros Cons
Claims to cover a plethora of markets  False claims of CySEC regulation
  A cloned firm and website
  Trading conditions not disclosed
  Platform not functioning, no MT4

 

Latest news about 24TradeRush
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Broker Country Regulation Min deposit Max payout Review
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Cyprus CySec $200 89% Review
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Traders` reviews for 24TradeRush

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

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SCAM-FRAUD

They will balloon your account from 300 to a high amount and make you wait over 7 days. In that time they will gain your life you to gain trust. Once the 7 days are up and it’s time to withdrawal “generated earnings” they will try and get you to pay some high fee to get your withdrawal. These guys are professional cons. Scam artists 100% run for the hills and protect yourself as they will lurk through social media sites.

Anonymous 04/01/2019

f*cking scammers

they scam people and tell people to deposit permit money to release your cash...one of their people is JACOB Msizane from facebook be aware of that shit..... and this lady called Emani

annonimus 01/27/2019

24 traderush are f*cking scammers

They are f*cking scammers.. they told me to pat $200 and they will make $2000. I opened an account on their site. Within 10 days they filled my website account with $30,000. And when it was time to withdraw they asked form permit money and said i need to give them extra $1000 for releasing the money. And i gave. After 2 days they asking me to pay more $3000. And said tax department is holding my profits. Dont fall for them guys. They are f*cking scammers.

Gaurav Patil 01/05/2019
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