SuccessfulTrade24 Review: Don’t Risk Trading with This Firm
SuccessfulTrade24 is an unimpressive name for the successful brokerage that they claim to be. That’s because they’re nothing but a curious offshore agency or one-person company with a dead website and no regulation.
Making a fake statement about having an MFSA license doesn’t make them seem more legit either.
And that is just the start. Stay with our SuccessfulTrade24 review and find out more about this obvious scam. From a gif image instead of a trading platform, insane pricing, and harmful terms and conditions, SuccessfulTrade24 is not a broker you want to trade with.
What confirmed our doubts about SuccessfulTrade24 is the scam alert by an independent body – The Financial Commission (FINACOM PLC LTD):
As well, stay away from the trading scams DynamicsFx Trade, XTrade Brokers, and Bitcoin Trade Pro! Furthermore, before investing, always investigate the history of internet trading firms!
|Address||925 Joes Road Glens Falls, NY, New York 12801, United States & 31 Beeston Road, Nottingham, United Kingdom|
|Regulation||Unregulated, blacklisted scam|
|Warning||The Financial Commission|
SuccessfulTrade24 Reliability – License and Fund Security
Let’s start with the lies about certificates you can easily see through. MFSA is the first license that SuccessfulTrade24 claims to own. Unfortunately for this petty liar, the MFSA public register proves this claim to be false. Same story with the fake FCA, BaFin, and CONSOB permit.
SuccessfulTrade24 gives a UK address, yet the phone number uses the US dial code. And yet, they fail to appear in the databases of the jurisdictional regulators in those two countries – FCA, CFTC, and NFA.
We’d never expect a scammer to be a member of a reputable broker’s list. To get on it, FCA demands brokers to invest 730 000 GBP, while in the US that amount goes up to 20 000 000 USD!
Fund segregation is an obligatory standard in both countries and also all EU states. Along with it comes a leverage restriction of 1:30 for the UK and EU. In the US the leverage cap is set to 1:50. SuccessfulTrade24 offers 1:100. Suspicious? Definitely.
Some conditions slightly differ, like no compensation scheme and negative balance protection from US brokers while UK and EU ones have to provide it. Bonuses are also allowed in the US and banned in the UK and EU. Transparency, however, is a must for all. SuccessfulTrade24 shows none.
By now you can already tell investing here is a bad choice. Without regulations and laws that every good broker abides by, running a brokerage business is illegal. That’s exactly what SuccessfulTrade24 does.
Trading Platform Overview at SuccessfulTrade24
The satirical and funniest part about this website is what they call a trading platform. Once you gain access to it, you will quickly discover it actually represents no software at all. A single, unresponsive gif image is what SuccessfulTrade24 presents as their technological trading solution.
How do you place trades and interact with them? You don’t, and because of that, no trading is possible. Traders can’t open new positions, and use automated trading and advanced technical analysis that MT4 and MT5 allow. You won’t be able to earn anything at all. So don’t even bother opening an account with this useless trader.
SuccessfulTrade24 Trading Accounts
|Broker||SuccessfulTrade24||FXTM||OctaFX||FPMarkets||XM Broker||HFM||FBS Broker|
SuccessfulTrade24 doesn’t have a customized account offered for every type of trader. They do not even have a Demo account that should give you the possibility of testing the trading conditions and environment by trading with virtual funds.
Although opening an account should go swiftly, SuccessfulTrade24 additionally complicates it with the glitchy web presentation. It appears that nothing runs smoothly with SuccessfulTrade24 except the scamming they’re performing.
Think well before opening an account with any broker, even a reputable one. A demo account should be there to help you figure out if the concrete offer is what you’re really looking for.
SuccessfulTrade24 Deposits and Withdrawals
The fraudulent nature of SuccessfulTrade24 explains why they insist on crypto depositing. This is, by far, the riskiest for a trader, yet the most secure funding method for a scammer.
Why? Simply because these transfers are final and tracking the process doesn’t necessarily lead to the real owner of the crypto wallet. Even if you deposit just $500, how much SuccessfulTrade24 asks for a start, it will be a waste.
SuccessfulTrade24 notifies users about possible processing fees, yet doesn’t reveal the specific amounts. Swindlers often surprise unsuspecting victims with huge charges and fees that no one warns about in the beginning.
SuccessfulTrade24 Trading Instruments
Not only is trading impossible at SuccessfulTrade24 through a gif image of a trading terminal, but the general conditions are not alluring in the least. It’s borderline humorous how the cheater doesn’t allow trading. Yet they do advertise some made-up trading parameters and financial instruments.
With the leverage of up to 1:100 and high spreads from 1.9 pips, you can supposedly trade the following instruments:
- Forex (EUR/USD, EUR/GBP, USD/AUD, EUR/JPY)
- Commodities (coffee, sugar, wheat)
- Crypto (BTC, ETH)
- Indices (Dow Jones, NASDAQ)
How is the Scam Performed?
SuccessfulTrade24 is buggy and suspicious to no end, they would hardly earn themselves a victim. But novice traders sometimes view trading on the Forex market with a dose of optimism and naivety. This makes them highly subjective to the influence of skillful swindlers.
The persistence that boiler room businessmen and scam agents display is most common among scammers. When it’s about convincing a potential target, these con artists don’t shy away from any method plausible. This includes altering and controlling the trading terminal so it shows amiable data.
But when there comes a moment for the trader to take their profit, troubles arise. Verification, trading volume demand, taxes, and fees are all in play to obstruct you from getting your profit. Even your initial deposit is at stake and you will not likely ever take it back.
Highly Suggested Forex Brokers
Little does SuccessfulTrade24 do to actually provide genuine service and protection of funds. FXTM, OctaFX, XM, and other brokerages are miles ahead of that.
Regulation is a guarantee that the broker provides the highest investment protection. This gives you financial confidence to trade and have your strategy succeed and bring you profit. From implementing the latest technology to being protective of your capital, the brokers we recommend are incomparably better and more reliable.
|FXTM Broker||Cyprus, UK, Mauritius||4.5||$10||Forextime.Com|
|OctaFX Broker||Cyprus, SVG||4.4||$100||OctaFX.Com|
|FP Markets Broker||Australia, Cyprus||4.7||$100||FpMarkets.Com|
|XM Broker||Cyprus, Belize, Australia||4.7||$5||XM.Com|
|HFM HF Markets Broker||Cyprus, UK, South Africa, UAE, Kenya||4.3||$5||HFM.Com|
|FBS Broker||Cyprus, Belize, Marshall Islands||4.85||$100||FBS.Com|
Bad investment decisions and plans could easily lead you to suffer big financial damage. One of example of that happening is investing with SuccessfulTrade24. The site aims to defraud clients and get rich by robbing common traders. With a little help of fake licenses and persistence, they may even manage to fool some, but not every trader out there.
Prevent scams from happening to you by collecting data and knowledge whenever you can. From manuals and words from experts, there are many ways to obtain the necessary trading wisdom before investing.
We’re also here to advise and help you perfect your scammer sense so you can detect and avoid them easier. In return, sharing your experience and knowledge with us would be of great value to our work and mission.
FAQs About SuccessfulTrade24 Broker
What Kinds of Accounts Does SuccessfulTrade24 Have?
SuccessfulTrade24 doesn’t have custom account types or the Demo accounts. There’s one general account type you open when you first register.
How is My Security Ensured When Using SuccessfulTrade24?
It is not. No regulatory rules and standards obligate SuccessfulTrade24 to protect your data and funds.
What Funding Methods Are Accepted at SuccessfulTrade24?
SuccessfulTrade24 only accepts deposits made in crypto currencies. These are known to be dangerously risky because they are final and untrackable.