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thefx24trade

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Does THEFX24TRADE allow scalping or hedging?
Filia Charalambous
Montenegro
2023-10-13
ANSWER THEFX24TRADE is clearly an unauthorized forex broker that poses substantial risks to investors. As such, we strongly suggest investors steer clear of THEFX24TRADE, regardless of how enticing deals it offers.THEFX24TRADE claims to be founded in 2015 in the UK. However, its domain ("thefx24.com") was first registered in July 2023. This discrepancy undermines its credibility.While THEFX24TRADE claims to be operated by THEFX24 INC LTD, a company regsitered with the Companies House (CH), and uses this incorporation certificate as a testament to its legitimacy, it is critical to note that mere registration with the CH doesn't mean being authorized to provide financial services or products in the UK. We searched for the company in the register of the Financial Conduct Authority (FCA) and revealed that it is an unauthorized firm in the UK. This means its offerings are illegal in this jurisdiction.You can refer to here for the FCA warning against THEFX24TRADE to learn more about it and the risks involved.Therefore, we strongly suggest investors stay away from unlicensed platform THEFX24TRADE. The absence of regulatory oversight indicates the risks of fraud and identity theft. To aovid such risks, it is advisable to choose a fully regulated broker instead.
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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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