Is Tradefx24 Scam or Legit Broker?
Tradefx24 is not a safe broker. The company is registered in Seychelles (Seychelles, Mahe, Providence, Rue de la Perle, Global Gateway 8). This means that the broker does not hold serious and top-tier regulations that will provide a secure trading environment. Despite the efforts to position itself as a trustworthy and well-regulated broker, Tradefx24 lacks in regard to its safety, and signing with it means putting your investment at risk.
- Seychelles is an offshore zone with very low requirements for registered companies. The cost of the license is very low and easily obtained. The Seychelles legislation does not provide strict rules and does not oversee the company’s operation further on. So, we do not recommend traders trust their funds to a broker with an offshore license.
|Type of License||Offshore License|
|Is Tradefx24 safe to trade?||No|
|Recommended Licenses||FCA in UK & ASIC in Australia|
|Alternative Broker||FP Markets – licensed by ASIC in Australia|
What is Tradefx24?
Tradefx24 offers a wide scale of services, including real estate, cryptocurrencies, startups, securities, exchange markets, alternative energy sources, etc. On its website, Tradefx24 states that the goal of the company is to generate income from the field of digital assets and expand the investment opportunities of any resource capacities. It boasts to have a unique and easy-to-use platform that offers a secure and loss-free environment for trades. However, through professional research, we have come to the conclusion that this is not the real picture.
- The first red flag about the company is the absence of a serious license. The company is registered only in Seychelles, which leaves the broker with only an offshore license.
- The next disturbing truth about Tradefx24 is the confusing and disturbing reviews about the withdrawal. Many clients complain about not being able to withdraw their funds. It seems the broker is only fixed on getting from its clients as much money as possible, by constantly asking for payments, in order to process the withdrawals, that most often fail to be processed.
Overall Tradefx24 Ranking
During our research we found multiple safety and regulation problems with Tradefx24, thus we do not rank positively Tradefx24, based on our Expert Opinion with over 10 Years of experience in Forex Trading.
- Tradefx24 Overall Ranking is 2 out of 10 based on our testing and compared to 500 other brokers, see Our Ranking below compared to other popular and industry Leading Brokers.
|Is Broker safe?||No||Yes||Yes|
|Advantages||None||Trading Environment||Trading Conditions|
Tradefx24 Alternative Brokers
Based on the issues we revealed about the safety of Tradefx24 here are much better Alternatives to Tradefx24 with good regulations and excellent conditions. We select Good Brokers and reliable options for your comparison below:
- Tickmill – Variety of Funding Methods
- Capital Index – Low Spreads and Fees
- Trade.com – Good Trading Instruments
Deposits and Withdrawals
Tradefx24 offers three options for investment: beginner, smart start, and smart trade. Deposits differ based on these investment plans. For beginners, the deposit amount is varying between $100 to $999. For a smart start, the deposit plan reaches up to $5,000, and for the smart trade, it is between $5,000 to $14,900.
- Tradefx24 advises small investors to invest in any sector of the economy, by creating a joint corporate account of $50,000. Investors with more serious funds can invest in State projects, ICO projects, and stock markets.
- However, the Tradefx24 website provides little information on the deposit or withdrawal methods and steps, which is also doubtful.
Tradefx24 Review Conclusion
We strongly recommend avoiding offshore and non-regulated entities. We advise traders to invest only with brokers holding licenses from authorities alike UK’s FCA, Australian ASIC, or other similar regulators, that provide compensation and are strictly supervised. We advise signing in with reliable brokers such as FP Markets, BDSwiss, and HFM.
- Overall ranking and experience for Tradefx24 is Negative