247forexlive.com Review Is 247ForexLive A Scam Or Legit Broker

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247forexlive.com Review: Is 247ForexLive A Scam Or Legit Broker?

247ForexLive Review: this is the name of a Forex broker that does not disclose its location on the page. Is 247forexlive.com a legit or scam Forex broker?

A survey of the website of this broker only turns up the basic promises of offering the best services to traders. It is common for Forex brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.

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However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.

Some of the basic things we look for in a legit Forex broker is missing from the page of 247ForexLive. Let us look at them as we proceed.

247ForexLive Trading Platform

It is not mentioned that 247ForexLive trading software is operated on a MetaTrader 4 platform, so what is available to all their clients may be a web-based platform.

Legit brokers are known to offer at least the popular MetaTrader 4 trading platform.

This platform is a very good sign along with MT5, as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating system. All can be used on desktops, Linus, windows, iOS and Android.

Tools that comes with these trading platforms are also found to be useful for traders. It has proven to be user friendly as well and helps traders in analyzing the market easily.

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Trading instruments offered to traders are not listed on the sales page. We know that legit brokers offer currency pairs, indices, CFDs on many commodities and cryptocurrencies. It is important to let traders know the options open to them.

Maximum leverage offered is not indicated which is quite unusual as we find no information on the spreads as well.

Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.

Deposit and Withdrawal methods on 247ForexLive

The means of making payments and withdrawals with this broker are: MasterCard, Visa, Bank Wire Transfer, Money Gram, Western Union, Perfect Money, and Bitcoins. E-wallets are not mentioned and it is not an encouraging find.

This is because standard and legit brokers make deposit and withdrawals available via Visa, MasterCard and Wire Transfer. Many offer e-wallets like: Skrill, Neteller, UnionPay, FasaPay, and so on.

Minimum deposit required is placed at $500 and we find that this is above the obtainable average of $100 to $250. We find no information on withdrawal charges and fees but this does not mean they do not exist.

Trading bonuses are offered to clients and we have found that this is a method used by scammers to impose restrictions on clients’ accounts.

This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.

Is 247ForexLive Licensed?

No. 247ForexLive does not even state if it is licensed or not. We have no location to place it at but the phone number provided seems like a US number. If it is a US based brokerage, it would have to have a license from the CFTC as well as other legit regulatory bodies.

We have warned traders countless times to avoid unlicensed brokers. Offshore locations are notorious because scam brokers choose to be based and operate from there. It is the same with this broker and they are not under any regulatory commission.

Support

To reach the customer care representative of this broker, clients can call: +15186221659 or email: [email protected]

Conclusion

The website of 247ForexLive lacks many information that we are used to looking for from legit Forex brokers. We discovered that to access the page via mobile one has to provide registration details which is suspicious.

Since there is no license held by the broker, traders are advised to avoid it and instead seek out trusted Forex brokers.

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Fortrade

Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide.. visit their official website

247ForexLive Review

247ForexLive broker investigation.

We are going to investigate 247ForexLive which presents negative signals and is probably a scam.

What makes us think 247ForexLive is a scam.

We show you the evidence that confirms that this broker is a scam :

  • He offers a binary option in Europe while he is banned from Europe.
  • It was reported by email by Benjamin who lost $2500. He has no more contact with their support that no longer responds to him.
  • He uses fake photos of their team taken on google and no official license is prohibited to offer unlicensed trading.

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We advise you before any investment in trading to take your time to choose a broker. Always look at several reviews on the same broker to be sure because brokers pay for fake reviews. Take the time to choose and never trust before doing research. Trading has always been a world with scammers and it will continue to be so unfortunately.

Our final conclusion.

We can confirm with certainty that this broker is a scam to avoid. You can directly use our Online Chat if you have been a victim of this broker. Feel free to leave a comment of your experience with this broker to prevent other people from being scammed.

247forexlive.com Review: Is 247ForexLive A Scam Or Legit Broker?

Trading binary options may not be suitable for everyone and may also not be legal in your jurisdiction,make sure you are aware of the risks involved as there could be total loss of capital. Don’t trade with money you cannot afford to lose. Binary Options is prohibited by the ESMA. BestBinaryOptionsWatch.com cannot be held liable for any damage resulting from use of information on this website. The FTC Required Affiliate Disclosure: BestBinaryOptionsWatch.com is a professional review site that is independently owned and as such, opinions expressed here are our own. We receive compensation from companies whose products we review. However our professionals test each products thoroughly and recommend the best.

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Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    1st Place! Best Binary Broker 2020!
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  • Binomo
    Binomo

    2nd place! Good choice!

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