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24CFD Review: 24Cfd.com Awful Forex Scam

24CFD Review: 24Cfd.com Awful Forex Scam

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24CFD (24Cfd.com) is another cloned website offering Binary Options, CFDs, Crypto Currency, and Forex scam platform. 24 CFD is professing to offer a faster and user friendly application to anyone who signs up. Sadly, we have compelling evidence which shows 24Cfd is a cloned website of another scam. Members are already crying foul after being mistreated by this illicit broker. Read this genuine and honest 24CFD Review for more details.

24CFD Review

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24CFD Review

After receiving some compelling evidence of foul play, we decided to investigate this rogue platform. Members have been complaining of the same issue which leads us to believe this is a rotten scam. Online scam artists have been cloning websites and targeting unsuspecting online investors. It is time to expose these scam artists as 24CFD is one of them. If you are planning to open an account, we suggest you read through this entire review. Make sure you know what this broker has installed for you.

Scam artists are known to create compelling websites meant to entice users to open accounts. In this case, 24cfd is simply another cloned website of LotusCFD. We did a review of LotusCFD and you can easily notice the two websites are the same. Only difference is the background color which these scammers hoped no one will notice. Let us expose these scam artists for the scam bags they are.

About 24CFD

Not much is known in regards to the actual people behind this platform making it an anonymous entity. Online investment platforms without a proven identity should not be trusted with funds. What these scam artists are doing is create the impression they are conducting Forex services in a clear manner. Who exactly are the founding members of this platform? Can we know the people running this website? Lack of information regarding this website is what makes us doubt their intentions.

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They are also using the same website as LotusCFD which is proof we are dealing with a scam. It could be a money laundering website for drug lords for all we know. What we discovered with this platform is beyond shocking as they are simply offshore based. What’s to stop these scam artists from shutting down the platform today?

Is 24CFD licensed or registered?

After checking the entire website for proof of licensing, we couldn’t find any. What a weird thing to find out from an online broker offering trading services. It means users are funding an unknown entity without vetting the broker. Make sure to sign up with industry licensed and regulated brokers. Funds are never safe with brokers who are offshore and fail to have a valid license. These types of brokers fail to issue any form of valid licensing details making them unregulated.

Why have they failed to post any details regarding their licensing status? It would be reasonable if they posted details of their regulation status on their website. Sadly, they fail to do so which makes it an unregulated broker. Why has 24CFD failed to post any copies of their license for members to see? It is because they fail to have any valid documents. Make sure you stay away from any broker not licensed by regulatory bodies such as ASIC, CySEC, FCA, and NFA.

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Features of 24CFD/ Advantages

With careful scrutiny, we could not find any advantage of dealing with 24CFD. Why would anyone trust a broker who is anonymous and unlicensed? Comments floating around the web are not helpful either. Most users have turned to social media to vent their anger on this rogue broker. Another disturbing factor with this website is using a cloned website. Nothing has changed apart from the name. It is simply LotusCFD with a different name now called 24CFD.

Disadvantages of 24CFD

Account types

24CFD Account Funding

Another shocking feature with this platform is lack of any account type. Why have they failed to give users information regarding account types? It is also a huge problem as no one knows what the minimum acceptable deposit is. Homepage says the minimum deposit is $10 which is a contrast to what members are claiming. What these scam artists are doing is demand more funds without allowing any trades to take place.

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Fake testimonials

What seems to be a well-placed testimonial is another rotten plot to fool investors. The testimonials are the same with LotusCFD and nothing has changed. What these scam artists have done is use stock photos to lure investors. None of the people you see exist as we could not finds any social media profiles. No evidence can support the claim that this is a true brokerage firm. We cannot confirm the true identity of the people used in the testimonials.

No Demo Account

Another troubling issue with this platform is the lack of a demo account. With a demo account, users know what to expect with leverage as well as spreads available. A demo account will also show how well the platform works in form of order execution and stability. As a trader, you need to know what you are signing up to before actually signing in. Without a demo account, users are engaging with an unknown platform.

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Are funds safe with 24CFD?

What we found out regarding safety of funds is shocking beyond reasonable doubt. Did you know investors are funding a personal bank account? It is a good reason why these scam artists fail to disclose how they handle funds. Stay away from these scam artists and start using appropriate brokers to stay safe. Segregation of accounts is not being followed which means 24CFD is pooling funds in one account.

Is 24CFD a scam?

24CFD Trading tools

Without a shadow of doubt, 24CFD is a scam waiting to pounce on unsuspecting investors. Evidence clearly shows we are dealing with a scam as this is a cloned website of Lotus CFD. Make sure to warn your family and friends from signing up with this platform. Mark all their emails as spam and never click on any links sent by their email marketing team. Ignore all incoming calls from their marketing team as it is a ploy to steal your funds.

Bottom line

Adding this platform to our scam blacklist will enable our readers to stay away from this platform. What you need to start trading is effective and efficient platforms.

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Wishing you all the best in your Forex trading experience.

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