Is 24Option.com a scam?
We’ll be addressing that in this review. We will be explaining who 24Option is and how they operate. This 24Option review will help you decide if they are a company that you can trust.
Who is 24 Option?: The History
They were originally a Binary Options company
24Option started out as a Binary Options trading platform in 2010 owned by Richfield Capital Limited. This meant that you would place your bets on financial instruments to go up or down. If your prediction was correct you would get a specific amount and if you were wrong you would lose everything. They slowly fazed out from the Binary options market due to increasing regulations and turned into a CFD and Forex trading platform in 2016.
Is 24Option Regulated?
On their website, 24Option claims that they are regulated by the International Financial Services of Belize. In our experience, this particular financial authority does not hold much weight and will not stop 24Option from pretty much doing what they want. There a no documented cases of the IFSB enforcing any of their regulations. Most importantly the IFSB certainly has not done anything to prevent 24Option from continually scamming their customers.
Why not mention CySec regulation?
Officially, 24Option is regulated by CySEC but this is not mentioned on their website which raises lots of questions.
If you’re not sure if you’ve been scammed by 24Option watch the video below.
24Option would seem to be a scam, a next level scam
Most notably, a 24Option two-year sponsorship of Juventus convinced thousands of people to invest their entire savings with them. They assumed 24Option was trustworthy because they sponsored a famous football club.
However, MoneyBackHero experience has taught us otherwise. For example, our dealings with Iron Forex which sponsored Barcelona was uncovered by CySEC to be a full-blown scam. This proves that being a sponsor of one of the biggest football teams in the world does not necessarily mean they you are a legitimate company.
24Option Reviews Online
With a quick google search it’s easy to find hundreds of 24Option complaints online. One place to start would be the 24Option trustpilot page.
24Option trustpilot review page
Tons of Negative reviews followed immediately by Positive reviews
This is a common practice by scam forex companies. They receive a tremendous amount of negative reviews. After negative reviews are left the company has “agents” leave positive reviews to follow and drown out the negative ones. They also report the negative reviews to have them temporarily blocked by Trustpilot in hope that the reviewer will not respond or know what to respond to keep their review up.
We do not suggest opening an account with 24Option as we have already had numerous clients that were scammed by 24Option. Fortunately if you have been scammed by 24Option, you have where to turn to get your money back. Contact us right away to start your recovery process and get your money back.
Click below to get started today.
As a wealth recovery company MoneyBackHero receives countless inquiries from clients looking to determine the legitimacy of their Forex, CFD, Bitcoin/Crypto, and Binary Options trading brokers. Feel free to comment below and help us provide useful information about the trading platforms on offer, and try to protect individuals from becoming a scammer’s easy target.
For more information on the risks and the reality of binary options click here