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247TradeLive Review: A Bullish Trading Platform

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247TradeLive Review: A Bullish Trading Platform

247TradeLive is a clone and dubious investment platform targeting American and European investors. Complaints have already reached regulators in both ends of the pool. Soon, the platform will face warnings from several regulators. 247 Trade Live wants investors to blindly sign up in the hopes of making a high ROI. Unfortunately, it’s not the case, as most members end up losing almost everything. Learn more in our detailed 247TRADELIVE REVIEW.

A Brief Summary of 247TradeLive

247TradeLive Review

There’s nothing new with 247TradeLive as it uses the same web design as other clones. You can find the web design precisely the same as Coincreditors and others. And this makes it a high-risk investment platform.

Even the homepage content is the same, and it shows a lack of creativity from the owner. We believe this is a group of offshore brokers trying to make a name for themselves. And this is not a handy investment platform as it would lead investors to believe.

We have concrete evidence showing why you should ignore Trade Live 247. First, you will end up losing your entire investment if you sign up. Second, some members don’t even get access to their accounts. Third, the platform has blocked access to investors with large balances.

You should ensure you invest in a proven investment strategy backed by experts. It makes sure investors invest and trade in a fair environment. These options give you a fair chance of making a reasonable ROI. Try them out today!

Most investors don’t bother checking any red flags on such platforms. Instead, the allure to make high returns leads them to untrustworthy platforms. So we have to enlighten you and expose the risks that come with 247tradelive.com.

Before signing up with any platform, the first step should be due diligence. Make sure you do some research on the platform. Find out what others are saying about the platform before committing funds.

Accounts 247TradeLive

247TradeLive offers four investment packages for users to choose from. These packages include Bronze, Silver, Gold, and Premium. The first thing we noticed is that these are not your average trading accounts.

Here’s a closer look at the accounts;

Bronze

For the bronze account, investors must deposit $500 to enjoy the benefits. You should know that the industry has set $250 as the acceptable minimum investment amount. Anyone asking for a higher amount is duping investors.

Silver

You have to deposit $1,000 and above to sign up with the account. It doesn’t have any meaningful features. All members get is a promise of making ROI of $9,000 and above. And this raises more questions.

Gold

For the gold account holder, there’s a minimum deposit of $2,500 needed to start using the platform. The account promises investors an ROI of $19,000 and above. If you’re new to investing, you would quickly jump in.

Premium

It’s the most exclusive account, with investors depositing a minimum of $3,500. There’s an ROI of $32,000 that comes with this package. What we don’t see from all these accounts is the vesting period.

It seems the platform does not offer actual trading. You only invest and give the platform access to your funds. The platform promises to deliver the set ROI within an unknown time frame. And this is unacceptable.

247TradeLive Accounts and Packages

You should know the vesting period required for all investment purposes. We also should inform you that the set ROI is abnormal. No expert or robot can guarantee such a high ROI.

Assets and Trading instruments

The platform promises members a variety of trading assets. These include Binary options, Commodities, Crypto, Forex, Indices, and Shares. It would be best if yHowever, you remembered that members have power over which assets to trade with.

The homepage claims the platform pairs major currencies with leading Cryptos. So, for example, you can trade Bitcoin against the US dollar. However, forex markets come with unknown leverage, which is another red flag.

You can invest and wait to see whether the platform invests with the FAANG shares. These are the most traded shares due to the high ROI. However, there’s no doubt that the platform greatly exaggerates the expected ROI.

Business owner

We only get an address that states the platform resides in New Jersey. For all we know, this is a false address from offshore brokers. If the platform resides in the States, there would be a valid statement from regulators.

It looks like an anonymous website, which puts your investment at risk. We have no information on who owns or runs the platform. There are no names mentioned on the platform, which makes it scary for us.

Client Testimony

To try and make the platform look legit, there’s a client testimony section. Thanks to our investigation, we know for sure these are false testimonies. The testimony is the same as the other cloned websites.

What the platform does is sell a compelling story from unknown persons. For the naïve investor, it’s what they want to hear. And this baits them into depositing funds with anonymous websites. Check for independent testimony on platforms such as TrustPilot.

247 Trade Live Client testimonial

Contact and customer support

Another feature you should test before signing up with an investment platform is its support structure. Unfortunately, on this occasion, the platform lacks any firm support structure. Instead, members only get a virtual phone number that rarely goes through.

The email listed on the platform is no good as response takes ages. These are some of the features that make or break a platform. If contact is not available 24/7, there’s no need to sign up with such a platform.

False Withdrawal Statements

Despite not having any crypto deposit methods, the platform claims users withdraw via Crypto. There’s a withdrawal section with a list of confirmed and pending withdrawals. Unfortunately, the links to these transactions don’t work.

And this goes to prove the platform is a complete hoax. Other false statements include having awards. There’s no award for this dubious platform, and they are using it to fool investors. Such platforms must be exposed at all costs.

Funding Accounts

You can fund your account using bank and wire transfers. Unfortunately, despite offering crypto trading assets, the platform doesn’t accept crypto deposits. However, once you sign up, there’s an email notification with deposit credentials.

After depositing funds, the funds will reflect in your account. You have to wait for an undisclosed time to withdraw funds. If you wait for too long, the platform will shut you off from accessing funds.

License and Registration 247tradelive.com

License and Regulation 247TradeLive

247TradeLive is not a regulated platform and doesn’t offer investors any meaningful trading services. The lack of compliance means the platform is putting your funds at risk. Without any regulatory framework, 247 Trade Live is free to operate as they wish.

And this is why you need a reliable platform that follows strict regulations. It means you won’t get harsh trading conditions or high leverage. So we recommend finding platforms licensed by official bodies.

These institutions include ASIC, CFCT, CySEC, FCA, NFA, and the SEC. Other notable regulators have BaFIN, CNMV, CONSOB, FINMA, and FSA. The regulators ensure everyone follows protocol.

Security of funds 247TradeLive

Your safety should be your primary concern when investing. Funds should be kept in segregated accounts, and the platform should be regulated. Unfortunately, it’s not the case as the platform pools funds in one account and lacks compliance.

Verdict

We won’t recommend a platform that fails to protect investors. There’s no insurance cover for deposits made.

When looking for a credible way to invest, the best investment strategy is your only option. So go for expert-backed options with a proven track record.

If you have any queries, drop a comment or write to us.

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