Expert 24 Trade which is found at Expert24trade.com is a Forex and CFDs broker. The site appears to offer binary options for trading as well which begs the question of how this broker is able to legally offer this financial instrument in countries that have prohibited trading of Binary Options. Nonetheless, Expert24trade.com does not say who they are and what company they are operating under. It is very difficult to trust that this website is regulated. Due to their lack of transparency and poor credibility, this broker cannot be trusted from the word go. In case you want to find out why, read this review because we have some great things to tell you concerning their operation.
In the meantime, we are encouraging traders to only open accounts with regulated and highly reputable brokers who will not do monkey business with their funds. Those brokers can be found on this page.
This broker has not been around for quite some time. They created the platform in August 2018 and therefore cannot be considered as established as brokers who are perhaps 5 years old or more. Ownership details of this brokerage is not mentioned anywhere on their website. It is also not clear whether this is a registered company or a simple website offering brokerage services to visitors. For that reason, we believe that Expert 24 Trade is a shady website and a broker that will eventually steal from your wallet by either refusing to process your withdrawal request or making sure that every trade that you shall place on their platform turns into a loss. That is how scam and unregulated brokers always conduct business. So at the end of the day, you will lose your money.
Brokers who lack reputation have found a way to attract unsuspecting clients by offering them a wide range of financial instruments for trading. This particular broker is offering a wide range of CFDs for binary options trading and this can easily attract people who dream of attaining quick profits. Some of these financial instruments are have high liquidity and wild price swings are common every day. This kind of thing attracts new traders who may not even consider the regulatory status of the broker they want to trade with. Do not do it.
As always, these unregulated brokers will run some kind of trading software instead of the most preferred MT4 trading software. If you are a trader, the benefits of this software cannot be understated. The trading platform is rich in tools that can automate your trading and even make you a more successful trader if you chose to manually place your trades. What is more, the platform is diverse and compatible with all kinds of automated trading solutions. It is easy to learn on this platform as it is equipped with all kinds of bells and whistles for trading.
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Having said this, we realize that Expert 24 Trade is offering the complete opposite. The site is providing a trading platform that looks similar to that which is used in binary options trading. We tested it and found that indeed it was the same platform that all kinds of binary options brokers were using. This platform only has the functionality for letting traders call or put trades. There is no other functionality that this platform can provide since it is very basic. It only loads up charts for the specific market you want to trade and offers you with the options to call or put. That’s it.
This kind of trading has come under sharp criticism as financial regulators across the world claim that it is a form of gambling. This has led to EU countries banning binary options in July 2018. This ban had already been placed in the US as well where most states prohibited this kind of trading. That is why it is always important for brokers who offer this service to publish disclaimer pages where they state which countries they are able to safely and legally operate from. But this scam does not have these pages and they seem to accept traders from all over the globe.
You can trade on desktop as well as on mobile because the trading platform can be accessed on the web. It might sound convenient but this does not automatically turn into profits for you. The aim of trading is to make returns out of your investments. If you cannot make money due to one reason or the other, it beats the purpose.
When you come across a broker who is not regulated, you should not proceed to make a deposit because chances are that they will scam you if you do. Expert 24 Trade does not state its regulatory status anywhere on their sales page. This should be considered a red flag because no serious broker should offer this kind of service without obtaining proper regulatory license from governmental agencies like the FCA in the UK.
Based on this fact alone, you might want to keep distance from the services which this website is offering. Not only is it an illegal entity, but the site will end up scamming you as well.
This is the none professional part of this website. Not only are they not saying how much they need traders to fund their accounts while opening them, but the site is also not presenting a complete job to their potential users. On the footer of the site, they state that they are hiring a website developer. The question becomes; why are they presenting an incomplete website to traders? This lowers their credibility. Already nobody can trust them with money. So we do not believe that the site will ever get serious investors. Moreover, the date of registration is in August last year. If they were serious, work in this website would be complete.
Expert 24 Trade is most likely a scam. If you want to trade with reputable brokers, please find them here.
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