Forex24 Market contains various false and misleading statements. Examples are attached below:
· supporting traders from over 127 countries
· With over $54,000,000 trading volume per month
· With over 845,000 registered accounts
· With over 25,000,000 trades executed per year
According to the firm's point of view, the broker seems to be reliable and reputable with these magnificent figures and data. However, evidence tells that's totally untrue. We found the company was actually created in December 2021. So how could it reach these figures in about 3 months? Thus, there is the highest possible level of caution for you when dealing with Forex24 Market.
Besides the fact that the company offers various confusing corporate information, there is the issue of licensing and regulation – Forex24 Market is using false licenses. If we go by the information on its home page, then the entity is showing that it is registered and regulated:
· CySEC(EU) under license No.199/15
· BaFin under registration No.HRB 169734B
· FSC under license No.C116017181
· FSA under license No.SD057
However, searching with the fraud claimed information on the above financial regulators' page, we found no results.
In addition, the UK FCA added Forex24 Market to its warning list on 9 March 2022 as the firm is not authorised by it and is targeting people in the UK.
After going through all the details and doing our own investigation on Forex24 Market, we conclude that the entity is most probably a scam.
Forex24 Market contains various false and misleading statements. Examples are attached below:· supporting traders from over 127 countries· With over $54,000,000 trading volume per month· With over 845,000 registered accounts· With over 25,000,000 trades executed per yearAccording to the firm's point of view, the broker seems to be reliable and reputable with these magnificent figures and data. However, evidence tells that's totally untrue. We found the company was actually created in December 2021. So how could it reach these figures in about 3 months? Thus, there is the highest possible level of caution for you when dealing with Forex24 Market.Besides the fact that the company offers various confusing corporate information, there is the issue of licensing and regulation – Forex24 Market is using false licenses. If we go by the information on its home page, then the entity is showing that it is registered and regulated:· CySEC(EU) under license No.199/15· BaFin under registration No.HRB 169734B· FSC under license No.C116017181· FSA under license No.SD057However, searching with the fraud claimed information on the above financial regulators' page, we found no results. In addition, the UK FCA added Forex24 Market to its warning list on 9 March 2022 as the firm is not authorised by it and is targeting people in the UK.After going through all the details and doing our own investigation on Forex24 Market, we conclude that the entity is most probably a scam.
