24option Review: Is it Legit or a Scam? Find Out in This In-depth Investigation

Contemplating 24option as your forex trading companion? Want to explore its trading platforms? We appreciate your interest! But how about knowing the Hong Kong-based forex broker and its different aspects, such as withdrawals and deposits. More specifically, if we have to say, whats the feedback of traders concerning 24option? Are they happy trading with the broker? From a healthy collection of over 200 reviews, the broker is found to be a SCAM! Many traders have expressed concerns over the illegitimate trading approach adopted by the broker. In the 24option review article, we have explored many complaints against the broker.

Exploring the Top Forex Trading Complaints Against 24option

The High Trading Platform Cost Accusation

The broker is accused of keeping high costs for traders, as per a complaint found on a broker review platform. Although the trader did not reveal cost details, it is likely to have caused losses for him. However, the trader did admit to having contacted a legal firm to recover funds. Check out the screenshot below.

Only Deposits, No Withdrawals, the Trader Alleged

This claim was made by a trader having deposited $10K without any payout. Every time the trader places a withdrawal request while accessing the 24option login, the broker demands an activation fee. This created doubt whether the trader would be able to access his funds. Undoubtedly, the trader shared a negative 24option review. Take a look!

Alleged Misleading Sales Practices, Forced Account Transfer & Total Fund Loss

The complainant alleges being lured by fake celebrity endorsements and being subjected to aggressive sales tactics, including constant phone calls pressuring them to invest more and open excessive trades. Company agents allegedly provided direct investment advice, exploited the complainants inexperience, and made false promises of returns and swap refunds, which never occurred. Check out the screenshot below containing a list of 24option complaints.

The £45,000 Fund Scam Allegation on 24option

This startling revelation was made by a UK-based trader who deposited £45,000 in total under the influence of a 24option executive. According to the trader, his last transaction was a whopping £30,000. However, the trader could not receive any response from the executive afterward, making him believe that the investments were scammed by the broker. To know more about this 24option complaint, read this trader review.

Regulatory Concerns Expressed

Traders also report regulatory issues concerning 24option. For instance, one trader claimed that the broker has failed to receive regulatory licenses from several authorities because of various reasons. The trader further added that the broker is unable to operate in France and Italy because of this. Here is the screenshot where the trader has made such a comment.

24option Review by WikiFX: Check the Broker‘s Regulation & Score

The list of 24option complaints on several trading issues, including withdrawals, does not improve the broker’s reputation. After checking the complaints, the WikiFX team looked into the companys operation and found that it is unregulated despite being in the business for more than five years. The team gave it a score of 1.61 out of 10.

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