Choosing the right broker for trading is crucial to the success of any trader. Unfortunately, there are many scam brokers that take advantage of unsuspecting traders. One such broker that has been making the rounds in the trading community is 24coinfex. In this article, we will be taking a closer look at 24coinfex, their practices, and whether they are a scam broker or not.
Overview
Before diving into the specifics of 24coinfex, let’s take a quick look at some of the basic information about this broker.
Broker Name | 24coinfex |
Year Founded | 2021 |
Regulation | None |
Minimum Deposit | $250 |
Trading Platform | MT4 |
Trading Instruments | Forex, Cryptocurrency, Stocks, Commodities |
Is 24coinfex Regulated?
One of the first things to look for when choosing a broker is whether they are regulated or not. Regulated brokers are monitored by financial authorities and have to follow certain guidelines to ensure the safety of their client’s funds.
Unfortunately, 24coinfex is not regulated by any financial authority. This means that they are not held accountable for their actions and there is no guarantee that your funds will be safe with them.
Warnings from Financial Regulations
It’s not just us who are warning against 24coinfex. Several financial regulators have also issued warnings against this broker.
What Currency Pair Do They Offer?
24coinfex offers a range of trading instruments including Forex, Cryptocurrency, Stocks, and Commodities. However, their offerings are quite limited when compared to other reputable brokers. They only offer a handful of currency pairs, which may not be suitable for traders looking for a wider range of options.
Customer Support
Customer support is an important aspect of any broker. Unfortunately, 24coinfex does not have a good reputation when it comes to customer support. Many traders have complained about the lack of response from the support team and difficulty in withdrawing their funds.
Trading Method (MT4/MT5/Any other method)
24coinfex uses the popular MetaTrader 4 (MT4) platform for trading. While MT4 is a reliable and widely used platform, it’s important to note that this does not make a broker trustworthy.
What Do Traders Think About 24coinfex?
There are several negative reviews about 24coinfex from traders who claim to have been scammed by the broker. Many of these reviews mention the difficulty in withdrawing funds, poor customer support, and high-pressure sales tactics.
What To Do If You Get Scammed?
If you have been scammed by 24coinfex or any other broker, there are a few steps you can take. First, try to resolve the issue with the broker directly. If this does not work, you can file a complaint with the financial regulator in your country.
You can also report the broker to scam-reporting websites and forums. This can help other traders avoid falling victim to the same scam.
You can also submit the case to your website. We will evaluate the case and will provide you with a free consultation and service recommendations to help you in recovering the lost funds.
If you face scammed and lost money to companies like bestxbit, BBINExchange, or Ammtron, please report it today by below form
File A Complaint & Get Free Consultation
Final Thoughts
Based on our research and the warnings from financial regulators, we cannot recommend 24coinfex as a safe and trustworthy broker. If you are looking for a broker, it’s important to do your due diligence and choose a regulated and reputable broker. This can help ensure the safety of your funds and the success of your trading career.
