Successful Trade24 is another unregulated fraudulent project. Even though they invested a lot of effort into making their online presentation attractive and professional looking, they are just an investment scam.
Their head of operations is located on St. Christopher Street 168, Valletta, US. Finding this information was an arduous task in itself, which is another sign of a scam broker, as reputable and regulated brokers make all pertinent information readily available on their websites.
They also claim to have a license with the MFSA of the USA, even though this regulatory body is in charge of regulating and licensing companies in Malta, not the US. Many of their claims are full of contradictions and irregularities, which is a clear sign of a scam.
|Address||25 Joes Road Glens Falls, NY, New York 12801, United States|
Successful Trade24 regulation and security
Successful Trade24 is a legally unregulated company. This might be confusing if you previously took a look at their website since they clearly state that they have a “category 3 investment services license issued by the US Financial Services Authority (the MFSA).”
As we’ve stated above MFSA regulates entities in Malta not the US, but more important than that, Successful Trade24 doesn’t have a license with the MFSA or any of the major US regulators, we’ve checked.
Other than that, the company claims to be endorsed by a few major European regulators, which is another absurd claim. Regulating bodies issue licenses, they don’t endorse scam brokers.
Unregulated Forex brokers are notorious for being involved in fraudulent trading activities so it’s safe to say that this illicit broker cannot offer you any security. It would be an understatement to say that investing with this financial swindler would put your investment capital in danger.
Trading platform available at Successful Trade24
Attaining some actual information regarding what type of trading platform they offer is virtually impossible. The landing page of their website advertises a Successful Trade24 platform that can be used to trade on global markets.
They also claim that the platform is constantly being innovated in order to provide its users with a seamless, intuitive, and user-friendly experience. We were unable to access this imaginary state-of-the-art platform so we cannot confirm its existence.
Besides that, there is a nice picture of MetaTrader 5 and a badly written description of the aforementioned platform. Having said this, we have to notice that they didn’t explicitly claim to offer their users access to MetaTrader 5, they just mentioned it.
Maybe to give their site more substance, maybe to attract unsuspecting victims, we don’t know and we also don’t know whether they actually have a platform at all.
Successful Trade24 trading instruments offered
Successful Trade24 claims to offer several different trading instruments. They offer commodity features, share indexes, currency pairs, and energy carriers.
Each of these assets has a different page dedicated to explaining what these trading instruments are and how they function, however upon visiting these pages, you are greeted by a wall of text written in nonsense English.
While the nonsensical text might be funny in other circumstances, in these it is just another major red flag.
The site was clearly quickly put together in an attempt to make their customers feel like they are interacting with a professional company. They also claim to offer cryptocurrencies for trading and mining on their homepage.
In all honesty, putting together the information we’ve provided you with so far was somewhat of a Herculean task.
Authentic stock and forex brokers make this information clearly visible and presented in a comprehensive way that won’t make its users question their language understanding abilities.
Deposit and withdrawal procedure
When it comes to payment options, Successful Trade24 offers quite a few different options. They offer debit and credit card transfers, transfers through crypto wallets, bank transfers, Skrill, Yandex money, and others.
The minimum deposit with their Basic account is 500$, which is a lot when compared to other regulated brokers whose minimum deposit is usually around 10 USD. They offer 5 “Weekly” accounts and 7 “Monthly” accounts.
Having so many different options to choose from is always attractive to people who are lured in by different spreads and bonuses offered by these accounts.
Their terms and conditions vaguely imply that users’ deposits might be denied, or that the users might not be able to withdraw their deposits if the company suspects that users are using it for money laundering or if clients’ personal information is suspicious.
The withdrawal procedure is equally poorly defined. The only thing that we could tell for sure is that there are some fees that are applied to withdrawals and various transactions.
Simply put, the explanations of their website raise more questions than they answer, so your best bet is to simply never invest with this scam broker at all.
How does this Scam operate?
Successful Trade24 bases its scam on not having any regulation whatsoever much as any other investment scam does. Basically, since nobody is watching over them, they can do whatever they want.
Their goal is to get clients to make a deposit by luring them in with various types of accounts and huge bonuses and other benefits which clients get once they invest enough money with this illicit brokerage.
The thing is, these brokers usually have years of experience in scamming people, so they know exactly what to say and how to say it in order to make you feel good about sending money to an anonymous entity halfway across the world. Once they think that they can’t make any more money off of you, the fraudsters will stop responding to your emails and phone calls and simply disappear with your money.
Top forex brokers
If you don’t want to get scammed, you have to make sure that you are doing business with a licensed and regulated broker. Having a good broker whom you can trust can save you from a lot of headaches.
Having said this, the internet is flooded with shady brokerages like Successful Trade24 so combing through them in an attempt to find a reliable broker might be harder than you think. Fret not, for we have done this for you.
Below you can find a list of licensed and regulated brokers whom you can trust with your investment.
|FXTM Broker||Cyprus, UK, Mauritius||4.5||10$||Forextime.Com|
|OctaFX Broker||Cyprus, SVG||4.4||100$||OctaFX.Com|
|FP Markets Broker||Australia, Cyprus, SVG||4.7||100$||FpMarkets.Com|
|XM Broker||Cyprus, Belize, Australia||4.7||5$||XM.Com|
|HFM HF Markets Broker||Cyprus, UK, South Africa, UAE, Kenya, SVG||4.3||5$||Hfm.Com|
|FBS Broker||Cyprus, Australia, Belize||4.85||1.2$||FBS.Com|
Successful Trade24 Summary
Successful Trade24 is clearly a scam broker. Don’t even think about trying to cooperate with companies like this one since you will regret it.
If you want to invest, be sure to inform yourself very well before sending money to anybody. It’s much better not to invest than to invest with a bad broker.
We hope his Successful Trade24 review helped you not fall prey to mouthwatering promises made by this and other companies like this one.
FAQs about Successful Trade24
Is SuccessfulTrade24 regulated?
No, they are not, even though they explicitly state that they are.
Does Successful Trade24 charge deposit or withdrawal fees?
They charge withdrawal fees, although the details of these charges are vague.
What is Successful Trade24 headquarters country?
Their headquarters are reportedly located in the US, but we were unable to confirm if this is true.