R24Capital Review: Is it safe to invest with R24Capital?
R24Capital claims to be a worldwide broker that offers CFDs and forex pairs on the well-known MT4 platform. The trading conditions appear to be great, but we don’t suggest this broker for trading or investment as it lacks regulation. R24 Capital also claims to be authorized in the US, but in reality, it is not.
Read a complete R24Capital review to figure out everything you should know about this broker.
Website: https://www.r24capital.com/
Address: O307A-DEIRA TOWER, AL REGA P.O.Box 1451, Dubai, United Arab Emirates
Warning: Not Recommended By Review Website Like Scam Helpers
Regulated? Unregulated
Is R24Capital legit or a scam broker?
No, R24Capital is not a legit broker. The broker professes to be regulated by the USA’s National Futures Association (NFA). But we haven’t heard about it before, which means that the broker either had the license some time ago or just created it but doesn’t operate anymore.
The broker’s website is allegedly owned by R24 Capital Group Inc., which is enlisted by the Money Services Business (MSB) and the National Futures Association (NFA).
It is fine to have a license from the NFA but to provide financial services in the US, the broker should hold a license from the Commodity Futures Trading Commission (CFTC). It doesn’t work otherwise. As R24Capital does not have a CFTC license, we can say that the broker is unlicensed and not safe for trading.
R24Capital review: Warning signs of R24Capital
Operational area
The primary warning for this broker is its location. The broker claims to be authorized and licensed in the US however works from the United Arab Emirates, which is a red flag.
Withdrawal issue
The broker accepts the payment and withdrawals through a wire transfer. There are no other money transfer charges, so it is good to be a bit cautious.
Unregulated status
R24Capital works with practically no sort of oversight and transparently lies about being regulated. Picking an unregulated broker is not a good option for investment.
Minimum deposit
The broker requests a minimum deposit of $500, which is a bit high. The genuine broker never asks for this high deposit.
R24Capital Review: Final Words
It is clear from this R24Capital review that this broker is neither reliable nor well-established in the Forex marketplace. The activities of this broker are similar to those of other forex scam brokers on the market. We suggest not investing with this broker; otherwise, you will lose your money.
Check out the list of scam brokers 2023 to see more such scam brokers to keep yourself safe from scams and scammers. It is advisable to determine the case before the damage becomes excessive. Your one step can save you from getting misled by such scammers.
Are you a victim of R24Capital scam? Get help now
If you were duped by R24Capital broker or become a victim of other scams such as the forex scam, cryptocurrency scam, binary scam, and so on, file a complaint right away by filling out the form above. A team of Scam Helpers will assist you through the process of filing your case and obtaining assistance with fund recovery.
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