247worldbtcfx.com Review Is 247worldBTCfx Legit Or Scam

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247worldbtcfx.com Review: Is 247worldBTCfx Legit Or Scam?

247worldBTCfx Review: this is the name of a brokerage that claims to be based in Switzerland. Is 247worldbtcfx.com a scam?

On the page we found out that the brokers use an address in Geneva, Switzerland. All Forex trading conducted in this location is regulated by FINMA and brokers based there are expected to hold a license from this authority. However, when we checked, 247worldBTCfx was missing from the list of brokers regulated by the Switzerland Financial Market Supervisory Authority (FINMA).

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This information above lets us know that this is an unlicensed Forex broker. Trading with this kind of company poses a high risk as they are not under the coverage of a regulatory commission.

It is common for Forex brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.

However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.

They claim to be offering the most accessible ways to become richer. Advantages of trading with the broker is listed as follows:

Innovative Trade
Variety of Tools
Profitable Terms
Help in Trade

A welcome bonus of 30% is offered to al new customers and no deposit fees are charged. Customer support is touted as working 24/7. Some sections are dedicated to provision of Daily and Financial News.

247worldBTCfx Trading Platform

247worldBTCfx broker offers traders the MetaTrader 4 trading platform. The MetaTrader platforms are commonly used because they allow the use of trading robots.

Legit brokers are known to offer at least the popular MetaTrader 4 or 5 trading platform.

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These platforms are very good signs as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating system. All can be used on desktops, Linus, windows, iOS and Android.

Tools that comes with these trading platforms are also found to be useful for traders. It has proven to be user friendly as well and helps traders in analyzing the market easily.

Trading instruments offered to traders are: 70 Forex pairs, CFDs on indices, stocks, energy, precious metals and crypto coins. We know that legit brokers offer currency pairs, indices, CFDs on many commodities and cryptocurrencies. It is important to let traders know the options open to them.

Maximum leverages offered is 1:200 and while this may seem generous but they could pose danger. High leverages can lead to huge loss of funds as well. Spreads are 1.6 pips on the EURUSD pairs.

Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.

Deposit and Withdrawal methods on 247worldBTCfx

The means of making payments and withdrawals are: VISA, MasterCard, Maestro, Neteller, and AstroPay. Inclusion of some e-wallets is an advantage for this Forex broker.

This is because standard and legit brokers make deposit and withdrawals available via Visa, MasterCard and Wire Transfer. Many offer e-wallets like: Skrill, Neteller, UnionPay, FasaPay, and so on.

Minimum deposit required is $250 which is within the obtainable average of $100 – $250 among brokers. Withdrawal charges are not stated for this broker. Sometimes it is better to mention if they apply or not. We do not even find any terms and conditions; this is a shady thing. Traders are expected to sign up for something with unclear conditions.

This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.

A welcoming trading bonuses of 30% is offered on deposits. This is a disadvantage as bonuses are used to tie traders’ funds down with unrealistic conditions.

Is 247worldBTCfx Licensed?

No. above we have already disclosed that the Forex broker is located in Switzerland where trades are regulated by the FINMA. But on checking we discovered that 247worldBTCfx is not licensed by the Switzerland Financial Market Supervisory Authority (FINMA).

Unlicensed Forex brokers have proven to be unreliable when it comes to the safety of funds. It is dangerous to invest funds with companies that do not have rules that they are obligated to follow.

Regulated Forex brokers in Europe, America, Africa, Australia, and Asia are under many strict rules. The regulatory bodies like the FCA, FSCA, CySEC, AISC, NFA and many others have regulations protecting Forex traders from unfair brokers. This is why they come top as recommended Forex brokers.

Support

The contact details of the broker are as follows: Telephone – +442036082593 and Email – [email protected]

Conclusion

247worldBTCfx is an unregulated Forex broker and it is not advisable to trade with it. The trading conditions it offers may seem attractive but they could as well be false.

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Fortrade

Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide.. visit their official website

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