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247FxLive Review – How safe is to invest here?

Website: https://247fxlive.com/

Address: 2182 Spirit Drive, Austin, TX 73301, USA

Warning: Monetary Authority of Singapore (Singapore)

Regulated? Unregulated, Blacklisted

247FxLive Review Introduction

247FxLive is an online trading platform that claims to be located at 2182 Spirit Drive, Austin, TX 73301, USA. The website is found at https://247fxlive.com/, but currently, it is not in use or suspended.

Due to a warning from an Asian organization, 247FxLive is a scam that is trying to look like a forex broker. The so-called broker is unable to provide any services at all, and it is connected to a different fraud that has already been exposed. In this 247FxLive review, we’ll go over important facts regarding 247FxLive and explain why it’s so risky.

Is it safe to invest with 247FxLive?

As was already stated, 247FxLive is a known scam. The most important thing to know about this shady business is that the Singapore regulator MAS put the so-called broker on a blacklist, showing that it was a scam. We can only conclude that if you deposit, your funds will be in danger. 

It is clear that 247fxlive does not have the right to offer its services in Singapore, and the financial authorities there have taken note. Otherwise, the broker just states that it is based in the USA without providing any additional information about the company or its NFA/CFTC registration number.

Trading Platform

The broker is so dishonest that it doesn’t even provide a legitimate trading platform. They provide a ludicrous client area we were given after signing up with 247fxlive. It contained quotations and charts that were provided by outside sources. In this case, it would be best to suggest trading with reputable brokers on reliable platforms like MetaTrader4 or MetaTrader5.

The only reason for this user dashboard is to make people think it is a trading platform. In the meantime, you are unable to execute a trade. So, it seems like 247fxlive main goal is to collect deposits from people it has convinced to invest in it rather than help people trade.

Deposit and Withdrawal Method and Fees

The minimum deposit is $500, which is five times more than most licensed brokers ask. However, a lot of trustworthy businesses are also currently offering accounts for 10 dollars or less, and you may find such deals by using the links in this article.

Regarding 247FxLive, you shouldn’t invest any money there because it is a scam. Regarding funding, 247FxLive only takes direct Bitcoin deposits, which is a red flag. We make this promise because Bitcoin transfers are final, and there is no way to seek a refund if something goes wrong.

Is it safe to invest with 247FxLive?

No, it is not safe to invest with 247FxLiveWhile dealing with a blatant scam like 247fxlive, you will only lose money. Singapore’s financial authorities have put them on a “blacklist,” and they don’t have a reliable trading platform either. 

Additionally, we should point out that 247fxlive does not offer prospective customers any Terms and Conditions, Client Agreements, or other necessary legal documents. 

247FxLive Review Conclusion

We see no justification for participating in this deception in any way. And if you do, your account will be suspended, and withdrawals will be prohibited once you desire a payout. If you were the victim of a 247fxlive scam or any other online scam, you can file a complaint on the Scam Helpers website in order to get your money back. Our experts will give you a free consultation, and we will assist you with the fund recovery process. 

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