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No valid regulatory information, please be aware of the risk!
I am facing a very strange situation, the trading experience with 24xforex was going great, they called me a couple of times to congratulate me, and check me out, which is very nice. The strange part started when I asked kindly on chat ( 3 days ago), that i want to withdraw a part from my balance . The chat agent said to me that I will be contacted by my manager, but it did not happen, and also did not iven replied me anymore on chat.[d83d][de21][d83d][de21][d83d][de21]
24xforex are scammers, the continuous calls started with Daniel Baker in March 2021, he lured me into depositing $250, he told me I would have a financial advisor Adam Whiteman who would advise me on the trades to take and teach me a couple of things about trading, I doubled the 250$ within a day, he then adviced me to invest more and he could help me increase my investment. As a result of the pandemic I had lost my job and this seem like a good solution not knowing I was a victim.
Official Website Unavailable
Since 24XFOREs official website cannot be accessible for the moment, we could only pick up some related information from broker-rating websites to get a rough idea of this broker.
24XFORE is a newly established forex broker registered in the Marshall Islands. As an offshore forex broker, it does not disclose the company behind it, which arises much danger. 24XFORE claims that it provides investors with trading assets including forex pairs, indices, and cryptocurrencies.
Tradable financial instruments on the 24XFORE platforms are quite limited, only currency pairs, indices, and cryptocurrencies allegedly available. Other popular trading assets like stocks, commodities, precious metals, and more, are not mentioned.
Like most forex brokers, to satisfy various traders specific trading needs, 24XFORE does offer three forex trading accounts: Silver, Gold and Platinum. However, it does not mention the initial deposit requirement for each account.
Trading leverage varies depending on what kind of trading accounts you are holding. For instance, the Silver Account offers the leverage up to 200:1. While the Gold and Platinum Accounts can offer higher leverage, up to 300:1, 400:1, respectively. This is because the latter account holders are typically experienced or advanced traders, high leverage can attract them more. However, since leverage can magnify gains as well as losses, it is essential that traders should learn how to use it and manage risks.
Spreads & Commissions
24XFORE hypes it offers ultra-low spreads on instruments, but it does not specify spreads on particular instruments. After testing with its demo account on the platform, we found that the spreads on the benchmark EUR/USD pair is around 0.2 pips, which is too good to be true. Since this broker is unregulated anyway, traders are not advised to trade currency pairs here.
In terms of trading platform available, 24XFORE offers access to two distributions of the highly acclaimed MT4 platform-available on PC and web versions.
Deposit & Withdrawal
No information about the minimum deposit requirement, and the minimum withdrawal amount is $50. Supported payment methods are Debit/Credit Card, Wire Transfer, e-Wallets like Skrill. Transaction via Credit/Debit Card charges no fees, while the costs for transfer wire, Skrill fail to mention.
24XFORE offers a poor customer service, and its support team can only be contacted through email: firstname.lastname@example.org. Company Address: The Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands.
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