Thinking of getting into business with 24htrading? Here is what you must know about this broker. Carefully read this review to find out if 24htrading.co.uk is the trading platform you will want to trade with.
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About 24htrading Broker
24htrading is an offshore brokerage company with a lot of promises for traders. The broker address shows it is from United Kingdom under a brand called GONNAFLEX Limited.
There are different account types the broker offers. See below.
To clarify, in spite the trading instruments 24htrading claims to offer, traders must know they are dealing with an unknown broker which does not have a regulation over its head.
24htrading.co.uk: Reasons to Avoid This Broker
Firstly, 24htrading.co.uk is a platform with no financial authority overseeing its financial services. We discover the broker is not approved among licensed brokers in Financial Conduct Authority (FCA), UK data-base.
Secondly, we noticed 24htrading.co.uk has a free account for traders. We advise you don’t waste your time on that, so you don’t get lured into trading real fund with this unregulated broker. .
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are cons for forex traders to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Withdrawal and Deposit
Withdrawal process
Under withdrawal policy, 24htrading leaves with the following information on withdrawal timeframe: on Credit/ Debit cards 10 working days, on wire transfer and other online payments 5 working days.
For an inactive of 60 days, the broker charges $10 monthly as maintenance fee.
Minimum Deposit
24htrading minimum deposit is pegged at $100.
As for the payment methods, 24htrading accepts Credit/Debit cards, Bank Transfer and other e-payment options. Truly, you should not consider making any payment with this broker because it is a risk. So beware!
24htrading Platform
24htrading offers Web Trader and MT4 (Industry standard trading platform), however, the option of MT4 doesn’t make the broker legit because any scam broker can do the same to lure forex traders.
As for the leverage, it can get up to 1:500. In fact, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
24htrading Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
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Conclusion: Is 24htrading.co.uk a Reliable Broker?
No, 24htrading.co.uk does not seem like a reliable broker for traders even though it promises offers that look good to be true.
Most importantly, the broker is unregulated which means it is not authorized to operate in any regulated country and you should definitely not put any money into it.
Because we have taken it as a duty to find out scam forex brokers and also share reasons, we will not recommend this broker for trading.
Kindly share your comment about this broker in the comment section.