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247FXOptionTrade Review: An FCA Blacklisted Broker

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247FXOptionTrade Review: An FCA Blacklisted Broker

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247FXOptionTrade is without a doubt a seasonal scam with the same outcome. This time around, the authorities have added the broker to their blacklist. 247 FX Option Trade is now an FCA blacklisted trading broker. If you sign up with the platform, you’re at the mercy of these unscrupulous brokers. Our investigations reveal 247FX OptionTrade is greatly exaggerating its services. This is after victims sent us email requests to investigate the broker. Find out more in this detailed 247FXOPTIONTRADE Review.

247FXOptionTrade Review

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247FXOptionTrade License and Registration

247FXOptionTrade is not a licensed entity and is already on the Financial Conduct Authority’s blacklist. The very same regulator they claim to register them has denied it. There’s an official warning from the FCA regarding this broker.

The warning shows that 247 FX Option Trade is a clone. They are using license credentials from Tickmil UK LTD and using them as their own. They thought that no one would check their license credentials with regulators.

After exposing the broker, we hope authorities will do their best to shut down the website. There’s another false document on the website. The Certificate of Incorporation is a false Word Document used to fool investors.

Most investors won’t bother to clarify these documents but, we must. It’s another reason to stay away as the broker forges documents to try and look legit. All their efforts will go down the drain, and we hope they get caught.

247FXOptionTrade License and Registration Status

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About 247FXOptionTrade

Before the broker took this name, their previous name was Fxoption Trade Limited. The website itself has the very same name. It seems their reboot didn’t remove their previous logo, which is a dead giveaway.

Those who are new at trading won’t recognize some of these small mistakes offshore brokers make. The mistake is proof that we are dealing with the same scam organization.

Nothing’s changed with their website design as it has a guy who seems to be screaming. These scam brokers use visual means to entice newbies to sign up with the platform. The broker claims to offer profitable investments in forex you can trust.

Despite having a visually appealing website, there’s no investment going on. The broker won’t allow anyone to withdraw funds, making it a scam.

Account opening

We decided to open an account with them and found out that they ask for valuable information. To verify your account, you must send a copy of your ID or credit card number. Brokers don’t need these documents to verify your account.

They can easily send an email with the verification link or SMS code. We suspect that the broker is harvesting banking information from wealthy investors. They will likely clean out your account before you even blink.

Assets and trading instruments

The broker offers four classes of trading assets which include Commodities, crypto, forex, and indices. Each of these assets comes with a different set of trading conditions. There’s an assumption that the broker guarantees ROI from 20 percent.

These are false claims as no broker can make such assumptions. The market is volatile, and losses do occur even to the best of traders. These are all false claims to entice investors to deposit more funds.

Business custodian

Fxoption Trade Limited is the same company that claims to own this platform. The company claims to be regulated by the FCA, which is not the case. We have concrete evidence proving that the broker is using false credentials.

The broker uses a legit company’s name and license number as their own. This is why we must expose the broker as their website is not legit. There’s no mention of their CEO or CFO on the page, making it an anonymous website.

Domain details (247fxoptiontrade.com review)

With the broker claiming to have years of trading experience, domain history refutes this. According to their digital footprint, the website went live on September 07, 2020. As we publish this post, the website is 217 days old.

That’s not enough time to claim to have an online trading experience, especially with crypto assets. The broker is taking everyone for a ride with their empty and unfounded claims.

Experience from members

After checking most trading forum groups, we can confirm that this platform is a scam. Victims share their experience with this bane broker. All have them have something in common the broker blocked all accounts

And this is as a result of depositing funds from $1,000 and above. The scam artists are mainly targeting wealthy investors. Those who deposit less than $500 get the chance to withdraw. The broker uses them to show that the platform allows withdrawals.

Investors will believe that the platform works and start depositing larger amounts. Only the first few members got the chance to withdraw from the platform. No one currently has made any withdrawals for the past four months.

Features of 247FXOptionTrade

Available plans

Account plans 247fxoptiontrade.com

247FXOptionTrade offers three plans to members. These plans include Starter, Advanced, and Maximum. Starter account holders can make a minimum deposit of $600 which is above the recommended amount.

The industry recommends $250 as the acceptable minimum deposit. There’s also an option of depositing back after several days. This means you can deposit $600 daily and expect a guaranteed daily ROI of 20 percent. If this were true, we would all be using their platform.

Contact and support

There’s a chat tab available with claims of support being online and ready to help. After sending our message, we waited for a response that didn’t come. Disclaimer at the footer of their homepage has an email address with no phone number.

These are smart scam artists who want to control communication. The broker can get in touch with you at their own time. A member contacting the broker will take longer unless you want to deposit. The broker is fast to respond to deposit queries.

Christain Don, John Smart, and Olivia Wills are the clients or investors who claim to make it. These are stock images of models with no interest in online trading. We believe that the broker is using these images as client testimonials.

There are no social media profiles of any of the three users. That’s odd, considering a third of the world’s population is on social media. It would be easy if these testimonials had valid withdrawal proof.

Safety of funds with 247FXOptionTrade

There’s no safety of funds with this broker as more victims come out venting their anger. Once you deposit these funds, it’s unlikely you will withdraw funds. And this is the reason we urge investors to shun blacklisted brokers. There’s a valid reason for the FCA to blacklist this broker.

To protect investors, it’s the obligation of regulators to expose scam trading websites.

Scam or Legit 247FXOptionTrade

247 FX Option Trade Forged License and Registration Certificates

247FXOptionTrade is a scam waiting to pounce on investors. We ask that you stay away from their illicit crypto and forex trading platform.

Bottom line

We don’t recommend any broker on the blacklist of any European regulator.

Please stay safe and use brokers that offer fair and transparent trading conditions. It’s the safest way to trade and earn realistic profit margins.

We wish all traders the best in their trading journey.

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