Is 24Tradex a legit broker?

24Tradex broker was a very difficult one to understand. The company does not show any information on the website about the owner, the headquarters country, etc. So, the question – is 24Tadex legit? Let’s dive into the 24Tradex review and find out

24Tradex Warnings

Since the broker is clearly running a scheme, we decided to verify if any regulatory body noticed it.

The Italian CONSOB issued a warning stating that 24Tradex is running a scheme. The same warning came from Belgium FSMA and Spanish CNMV.

All these regulatory bodies warned the EU citizens about the 24Tradex broker scam.

In which countries does this broker work?

Since the broker has no regulation, it cannot operate anywhere legally. However, it seems that it’s operating all around the world. There is some blend explanation about the website being forbidden in the areas where trading is restricted by the law.

According to regulatory warnings, seems that the favorite place of 24Tradex scam is Italy, Belgium, Spain, Netherlands, the UK, Australia, New Zealand.

Wherever you are, 24Tradex is not regulated anyways.

Conclusion about 24Tradex

24Tradex is an unregulated, most likely, offshore-based broker. The company does not provide any information about the company owner or any other relevant data. The broker has several regulatory body warnings; from Italy, Spain, and Belgium. This all tells us that it’s not regulated and not safe to trade with.

The company offers an MT4 trading platform, which is the only good thing we have to say about 24Tradex. The number of trading assets is lower compared to the other brokers, while the minimum deposit is higher than most regulated companies are offering. With 24Tradex minimum deposit is $250, while many companies regulated by ASIC, FCA, or CySEC are offering you to start with as low as $10.

The leverage that the broker provides is also very high, 1:500. This shows that the broker cannot be regulated since most regulatory bodies are limiting the leverage to up to 1:30. This rule was made to protect clients from high risk, especially those starting with low deposits.

According to everything we’ve listed so far, you can make a conclusion yourself. The 24Tradex is not a good and not a legit broker.

If you get scammed by this broker or misled anyhow, you should file a complaint. If the broker stole your money, you need to file a dispute and request a chargeback. Do not hesitate to ask for help!