Fxcoinoption24 is a clone of two other similar websites, CapitalFXs and PlugTrades. It seems all three accounts belong to the same group. Even the address looks the same on two of the websites. What investors might fail to understand is that the three are traps. FX Coin Option 24 is another trading platform meant to defraud investors. Here’s what we found out in our compelling FXCOINOPTION24 REVIEW.
There’s nothing much to talk about when you look at the website. All the information you see points to the exact details. What most might fail to see is the overwhelming lack of data on the platform.
We don’t get to see or read the information on the background and history of the platform. All we get is their mission to create a transparent trading platform. As far as transparency goes, this platform is not in any way close to that.
Being a clone means they have copied everything regarding website design. Therefore, you should be wary of such platforms as withdrawal becomes a problem in the future. And this is what new investors are facing with the platform.
It would be best if you looked for proven investment avenues that enjoy the backing of the trading community. One way is by joining reputable platforms that engage in groundbreaking investment solutions.
Fxcoinoption24 is by far a ruthless trading platform as withdrawing funds becomes a hurdle. For the past few weeks, no one has managed to reach this far. And now regulators are starting to take notice, and an investigation is underway.
It would be best if you did due diligence when investing in any platform. So make sure to do some research before deciding which platform to use. One way is by reading our clear reviews on crypto and forex investment platforms.
Fxcoinoption24 does not list the available packages on offer. And this means you have to sign up first before knowing the trading conditions. As far as leverage goes, the platform goes for 1000:1, which is a risky move.
There’s no mention of the acceptable minimum deposit on the platform. For all we know, the platform could be asking for s high amount. Our investigation reveals the platform asks for different amounts depending on the traded asset.
We also don’t know the leverage or spread available on the platform. Everyone should see these spreads before deciding to open an account. Hiding these features only points to a platform trying to take advantage of investors.
Opening an account takes less than five minutes. First, you will need to fill in your full names and your preferred trading instrument. Unfortunately, the platform is silent on many things, such as the security of information presented.
We fear that the platform could be selling your information to third parties. And that could explain the high volume of emails one received after signing up. Most of the emails are from products and services you haven’t subscribed to.
The platform offers standard trading assets. These include crypto, Energies, ETFs, Forex, Indices, and Stocks. However, as far as leverage goes, the 1000:1 leverage puts your investment at risk. In the event of a losing trade, you’re bound to lose more funds.
Energies found on the platform include gas and oil. ETFs include emerging markets and gold. When it comes to forex, the platform demands a minimum deposit of $500 to start trading. However, regulators have put a minimum allowed deposit of $250.
You also get a chance to invest in leading indices such as Dow Jones and FTSE. When it comes to stocks, the platform offers leading stocks from international companies. You’re bound to find the FAANG stocks on the platform.
When it comes to transparency, the platform hides details of who owns or runs the platform. We don’t have a single mention of anyone working for the platform. And this means we are dealing with quacks.
There’s no reason to hide such information unless you want to hide your involvement. Anonymous investment platforms should be the last option in your mind. Avoid investing with anonymous and cloned platforms.
Another issue we have with the platform is the client testimony. Although it looks and sounds compelling, it’s far from the truth. The testimony is also found on the other three platforms. And this means it's copied content.
The video testimony page doesn’t work, which means the videos don’t load. We are sure the platform is planning something sinister. In such cases, the platform will hire Fiverr actors to act as happy investors.
Despite having a chat tab, it’s more of an information harvesting tool. The chat tab will ask for your email address before proceeding. You will have to wait over an hour to get any live chat representative. And the chatbot will show up instead.
The contact page does not have any means of direct communication. There’s no way of contacting the people behind it. You don’t get to call them as there’s no listed phone number. And this clearly shows the platform wants to control the communication channels.
Members have an option of funding accounts via crypto wallets. For those who don’t have such, the platform offers an alternative. You can deposit funds via bank and wire transfer. The details are sent via email.
Once you fund your account, the balance will reflect within 24 hours. After reflecting, you can now start trading. The moment of truth will come when you decide to withdraw funds. That’s when the platform shows its true colors.
Despite having what they claim as happy clients, the truth is far different. The platform tries to show a successful investment platform. But, unfortunately, how it’s done is by creating a false “happy withdrawal” list.
Far from it, no one gets to withdraw funds with the platform.
Your funds are far from safe with a platform that doesn’t have any compliance documents. The platform won’t protect users from unforeseen circumstances such as bankruptcy. There’s no segregation of accounts as dictated by law.
The platform does not offer insurance cover, which puts your funds in jeopardy. And that’s why we have to flag them down. Such entities will shut down and won’t bother compensating investors.
Fxcoinoption24 is not a licensed entity and does not have any documents to show. Despite claiming to reside in the UK, the FCA doesn’t have such an entity on its platform. And this means we are dealing with a non-compliant platform.
The lack of regulation means the platform will operate without any rules. And this is why there’s insane leverage set for investors. Industry regulators have set 1:100 as the acceptable leverage.
It would be best if you looked for platforms that enjoy the backing of reliable regulators. These regulators include ASIC, BaFIN, CNMV, CONSOB, CySEC, and SEC. The regulators ensure every party adheres to set rules.
Here are our reasons for not recommending investing with fxcoinoption24.com.
Now you understand the risks that come with investing with FX Coin Option 24.
You should make a wise investment decision and sign up with leading investment options. It’s the safest way to invest and earn realistic returns.
Feel free to leave a comment or email us with any queries.
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