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Ok247Trade

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Operating status: SCAM

Website: https://ok247trade.com/

Broker violations and abnormal records
  • 2023-12-14 BrokersView has reviewed that Ok247Trade is an unregulated broker

    Ok247Trade purports to be based in Germany. However, there's no evidence to suggest that it's registered with the country's financial regulator, the Federal Financial Supervisory Authority (BaFin).

    In addition, it provides a phone number and an office address located in the UK, but it doesn't appear to adhere to local regulations. It's operating in the UK without the necessary authorization from the Financial Conduct Authority (FCA).

    The lack of regulatory oversight could potentially lead to fraudulent activities and identity theft. Investors who choose to trade with Ok247Trade are not protected by any legal framework. Given these circumstances, Ok247Trade could potentially be a scam, and traders are advised to exercise extreme caution and avoid it.

    Ok247Trade purports to be based in Germany. However, there's no evidence to suggest that it's registered with the country's financial regulator, the Federal Financial Supervisory Authority (BaFin).In addition, it provides a phone number and an office address located in the UK, but it doesn't appear to adhere to local regulations. It's operating in the UK without the necessary authorization from the Financial Conduct Authority (FCA).The lack of regulatory oversight could potentially lead to fraudulent activities and identity theft. Investors who choose to trade with Ok247Trade are not protected by any legal framework. Given these circumstances, Ok247Trade could potentially be a scam, and traders are advised to exercise extreme caution and avoid it.

Related Complaints

Q&A

Is Ok247Trade regulated in Britain?

lemonsourtrader
Netherlands
2024-01-11
ANSWER Ok247Trade is not regulated in Britain. Our search on the Financial Services Register of the Financial Conduct Authority (FCA) yielded no matching records. Furthermore, Ok247Trade is an unlicensed trading platform, which inherently carries substantial risks.Despite its assertions of being based in Germany and maintaining an office in the UK, Ok247Trade has not adhered to the laws of either country. We have found no evidence to substantiate its legitimacy.Given its unlicensed status, Ok247Trade is far from a safe option for investors. Engaging with it could potentially lead to fraud and identity theft. To protect their interests, investors are advised to avoid unlicensed brokers like Ok247Trade and instead choose fully regulated ones. Your financial safety is our primary concern.
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Risk Warning:

FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.

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