If you are considering trading with the FX 247 Option, it is important that you know how to verify the broker’s credentials. The company’s website may display a regulated license and address, but that information is likely fake. You should check this information from multiple sources. When sending money online, be especially careful and diligent. Keep in mind that you are not the first person to lose money with this company, and mistakes do happen.
This broker is registered in Cyprus, but its website gives misleading information about its company. While the company claims to be regulated by the Cyprus Securities and Exchange Commission, it also lists an inconvenient New York address and a landline number in California. Its website claims to be regulated by several different governmental bodies, but the firm isn’t regulated in any country. Its registration with BDSwiss indicates that it is a scam. You shouldn’t trade with 247 Options Trade.
In addition to its unregulated status, FX 247 Option is unregulated. That means that it is not backed by any regulatory authority around the world. The company doesn’t have to disclose any banking details, which makes it less risky. The firm also does not have a license from the Financial Conduct Authority, which means that your funds won’t be safe. However, there are a few things you can do to protect your funds if you decide to trade with this firm.
Another problem with 247 Options is that it is unregulated. While this may be an advantage if you are an experienced trader, you should be wary of brokers that do not have a legitimate registration with the Financial Conduct Authority. Besides, this company is anonymous, which makes it impossible to trace it if you need to withdraw your funds. If you do end up losing your money, there’s no way to withdraw it.
Another concern with Fx Option Trade247 is its reputation. It is an offshore broker. The company is located in Seychelles and is owned by an offshore company, EXPERT Ltd. This means that the company is not regulated by the Financial Services Commission and is not regulated by the local laws. In December of 2017, it was warned not to trade with the Fx 247 broker. This may lead to a loss in the future.
Fx 247 Option is a binary options broker that has not been regulated by the Mauritian Financial Services Commission. Lilly Pearson has falsely claimed that the company has an investor-dealer license from the FSC. Unlike the real Lilly Pearson, the company is not regulated by the Mauritian regulator. Its license was withdrawn by the Financial Services Commission in December 2017. In a report published in Finance Magnates, Lilly Pearson had falsely stated that the company was an investment dealer and is not licensed by the FSC.
Despite being a scam, Fx Option Trade247 is not a fraudulent firm. It offers Forex Trading on MT4 Mobile trading platforms. It also has a hybrid broker execution model. This means that it is both an a-book and a b-book broker. Furthermore, the firm also provides CFDs, stocks, and cryptocurrencies. There are many risks with this binary options dealer.
The firm’s FXoption Trade Limited claims to be regulated by the FCA. They offer four classes of trading assets, each with different trading conditions. The company advertises that it is possible to earn ROI of 20% or more. This is a misleading statement and the market is highly volatile, and even the best traders can lose money. It is also important to understand that this broker has a platform that is regulated by the FCA.
Moreover, the FX247 Option Trade Limited claims to be regulated by the FCA. This company has four classes of trading assets. Each of them has different trading conditions. The company also promises an ROI of 20%. While this seems impressive, it is important to keep in mind that the market is highly volatile, and losses can happen even to the best traders. In addition, this company does not own its own platform, so it is a scam.