EmiratesFX24 claims to offer profitable trades on every trade, what every investor wants to hear. There’s the truth about what we want to hear and the actual trading reality. Emirates FX 24 is nowhere close to offering profitable trades. We are sure that soon, regulators will issue a warning regarding emiratesfx24.com. There have been complaints from investors about failure to release funds on time. Here’s our exclusive EMIRATESFX24 REVIEW.
Everything about EmiratesFX24 seems spooky to us. It all starts with the homepage and the theme color. Then, the homepage has a video presentation that suddenly stops. With the Emirates name, the platform wants investors to believe this is a platform for the wealthy.
Far from it, Emirates FX 24 is a hoax and only uses moving imagery to fool naïve investors. However, the platform will do or say anything to make sure investors sign up with them. And this is the reason we must expose the platform.
We feel we have to protect investors from rogue investment platforms. With regulators investigating the platform, the findings will be too late for some investors. All in all, we are here to expose the glaring red flags found in emiratesfx24.com.
You should only sign up with expert-recommended investment platforms. These platforms offer users credible ways of earning realistic returns. Although today’s investor is turning to coin staking, DeFi, and Masternoding, you should too.
Emirates FX24 is not anywhere close to a reliable investment platform. The website itself is on the WordPress platform, which speaks volumes. Furthermore, it shows the lack of professionalism from the owner.
Ensure you do some research before embarking on any investment. Make sure you find out what others are saying about a particular platform. Then, you can come to us and ask us to investigate any crypto of forex investment platform.
EmiratesFX24 offers investors four account types to choose from. These include Micro, Standard, Premium, and VIP. Our first red flag is the high leverage imposed on all trading assets, between 1:500 and 1:1000.
Here’s a closer look at these accounts
Micro
It’s the most basic account type, with members having to deposit $100 to start trading. The spreads are set at 1.8, and the minimum lot size is 0.01. Members also get a dedicated account manager.
Standard
For the standard account holder, the platform offers a spread of 1.6. The minimum allowed deposit with this package is $1,000. There’s no commission on this platform, and members get a personal account manager.
Premium
Spreads on the premium account are set at 1.4 pips with no available commissions. The acceptable minimum deposit is charged at $10,000. There’s also high leverage imposed on this account set at 1:1000.
VIP
It’s the most exclusive account on the platform, with members having to deposit $500. We don’t understand why this is the case but, we believe this is a typo. Investors are required to deposit $50,000 for the account.
The VIP account mainly targets institutional clients. With such a name, you would expect an option of Islamic accounts. Unfortunately, there are no Islamic accounts on the platform, which is entirely unfair.
These account managers ought to offer support to members, and it’s not the case. So instead, the account managers solicit funds from members. As a result, you get constant calls asking for more deposits to cover a lucrative investment offer.
Those who make the mistake of funding the investment offer fall into a trap. To sweeten the deal, the account managers make you feel special. The plan is to call you and claim a high investment offer that’s limited to a few members.
When you deposit funds, there’s no information on the vesting period. You will be told to wait for the profits to soar. It doesn’t happen, and later the platform replaces the initial account manager with a new one.
The disclaimer at the footer of the homepage claims Axis Solutions Ltd owns the platform. That’s the only information we have from the platform. Unfortunately, we don’t know the company headquarters or the names of the CEO and CFO.
And this makes Emirates FX 24 completely anonymous. As a result, there’s no telling who is held responsible for funds. These are some of the red flags naïve investors will fail to spot. Avoid investing with anonymous platforms without a license.
Despite having what looks like a live chat tab, it’s a message board. The contact page has a message board for members to leave their messages. If you look closely, you notice there’s no direct way of contacting the platform.
You can’t make a call as the platform doesn’t list a forwarding phone number. We have seen this before, and it’s an attempt to control the communication channels. The platform can easily reach out to you but, it’s not the same for members.
Members can only deposit funds via bank and wire transfers. Despite claiming to offer crypto assets, you can’t deposit via crypto. However, funding your account is straightforward, with the process taking less than five minutes.
After funding your account, you may start trading and hopefully make winning trades. The only problem is the fact that the platform blocks withdrawals. We have reason to believe this is an attempt to force members out.
Even an expert trader won’t get the chance to deposit funds with the platform. And this makes it a worthless investment platform. Any platform that only allows partial withdrawals to some of the members is not worth your time.
Emirates FX 24 is not a licensed or registered platform which means they are not compliant. Therefore, the platform is free to operate as they wish. And this is why there’s maximum leverage of 1:1000. No regulator would allow for such high leverage.
Regulators all over the world have set a maximum cap on leverage as 1:100. In the States, the leverage for retail traders is set at 1:50. And this is to ensure all traders don’t lose a large volume of trades.
The platform takes no action in openly stating their compliance status. And this is another breach of trust. Investors should be made aware of whether a platform is registered or in the process of registering.
We also don’t know the trading platform available. The platform makes no mention of it which is a bit odd. What we know is that the platform offers a custom-built trading platform that is highly unstable.
The industry recommends using industry-backed trading platforms. Go for world-class trading platforms such as MT4, MT5, and SIRIX. These platforms offer investors advanced trading tools such as technical charts and over 50 indicators.
When selecting which investment platform to use, ensure it guarantees the safety of funds. In our opinion, a platform must offer insurance cover and complaints. In addition, the platform should be transparent and allow withdrawals at any time.
Sadly for members of emiratesfx24.com, it’s not the case. Lack of compliance means the platform doesn’t offer insurance cover. As a result, members won’t receive any compensation in the event of bankruptcy or insolvency.
There’s no way we would recommend a platform that puts your investment at risk. So the best option is to stay away from it.
Instead, we recommend using innovational investment strategies with a proven track record. It’s the way to go.
If you have any queries, don’t hesitate to comment or write to us.
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