An investor needs to know about a broker before starting to trade with a new fx broker or any other trading platform. If you are planning to trade with Trade Room 24, you should read this comprehensive Trade Room 24 review. Scam Help Center Team suspects Trade Room 24 as a fraudulent broker. Read the details here.
Website – https://www.traderoom24.com/
Website Availability – YES
Address – Rue de Lausanne 15 Cornavin Station Geneva, GE, 1201, CHE
Blacklisted Status – Swiss Financial Market Supervisory Authority (Switzerland)
Domain Age Information –
Domain Name: traderoom24.com
Registry Domain ID: 2818948664_DOMAIN_COM-VRSN
Registrar WHOIS Server: whois.godaddy.com
Registrar URL: https://www.godaddy.com
Updated Date: 2023-10-03T12:02:41Z
Creation Date: 2023-10-03T12:02:40Z
Registrar Registration Expiration Date: 2024-10-03T12:02:40Z
Fraudulent Conduct by Trade Room 24 Broker
Trade Room 24 promotes itself as a Swiss online dealer of contracts for differences (CFDs). They claim to provide a range of products for trading, such as cryptocurrency, forex, and other instruments. But a further examination reveals major problems. Protecting traders and investors is a major responsibility of the Swiss Financial Market Supervisory Authority (FINMA). The fact that www.traderoom24.com has received a notification from FINMA is a serious red flag. This implies that Trade Room 24 may be providing financial services without permission, in the opinion of FINMA.
Negative Reviews and Red Flags
An important factor in evaluating Trade Room 24’s reliability is the prevalence of negative reviews across various platforms. These reviews often highlight issues such as withdrawal problems, unresponsive customer service, misinformation, and clear signs of Romance fraud and other fraud. Given the numerous negative reviews that underscore the risks of trading on this platform, prospective investors are urged to exercise caution and consider more trustworthy forex trading brokers from the genuine forex brokers list.
Looking to invest safely? Choose a licensed and regulated forex brokers and avoid these fraudulent brokers 2024.
The Role and Importance of Regulatory Warnings
The most significant indicator of potential deceit is the lack of regulatory supervision, either completely or insufficiently. Regulatory bodies such as the SEC, FCA, FINMA, ASIC, BaFin, FMA, CONSOB, and others issue warnings against unlicensed brokers operating without recognized financial norms. Examine the regulatory warnings to confirm the legitimacy of Trade Room 24’s operations and the safety of investor funds.
Having a regulatory license adds another level of safety for traders by guaranteeing that the broker complies with strict guidelines including sufficient capital, transparency, and ethical conduct. It gives investors a safety net in case of disagreements or misconduct, which is lacking when working with unregulated businesses. In a Trade Room 24 review, the importance of choosing a licensed broker is often highlighted due to these safeguards.
Why Should You Avoid Trading with Unlicensed/Unregulated Brokers?
Due to the high risks involved, trading on an unregistered broker’s platform is not recommended.
- Money might not be separated, which would make it more susceptible to loss in the case of the broker’s bankruptcy or financial mismanagement.
- Transparency is sometimes lacking in operations, which leaves traders vulnerable to false information and unstated costs.
- The entire trading experience is undermined by generally worse service quality, poor customer assistance, and antiquated trading systems.
- Selecting a registered broker guarantees compliance with regulations that protect investors and advance a safer and more open trading environment.
Other possible fraudulent activities of Trade Room 24 broker
Trade Room 24 seems not fair to the investors as they complain about the withdrawal issues, unfulfilled bonus policies, and other assured benefits
Trade Room 24 offers assets that are highly risky and result in huge losses for investors.
Trade Room 24 sales staff continues to call the investors and force them to invest more and more money.
Final Conclusion- Is Trade Room 24 a fraudulent or legit broker?
Given the regulatory warnings and negative Trade Room 24 reviews, this situation suggests it may be a potential scam. Investors are advised to exercise extreme caution and consider choosing forex trading platforms with proper regulatory licenses and a strong reputation in the trading community.
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Got Scammed by Trade Room 24? Scam Help Center Is Your Solution for a Refund!
For victims of Trade Room 24, getting help through platforms like the Scam Help Center is important. If you suspect deceit, filing a chargeback might help you get your funds back. To successfully enhance your case and speed up the recovery procedure, take immediate action and document everything thoroughly.
Find out more about your chargeback rights and available solutions. Contact us for expert guidance.
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