24Onlinefx.com is an alleged regulated investment solution who is turning a lot of heads in the online investing sector. They claim to be operational from 2015 and their platform at first glance seems to have a positive and persuasive influence on the investors. When we were investigating this platform, we quickly found out that they are bluffing for the most part and given the traits they display, we can assure you that they are not in your best interest.
The incorporation certificate featured by them turns out to be just a gimmick and we are going to explain it later in the review. Cryptocurrency is an exciting field and most traders adore it as it has enormous volatility. However, on the other side the public is largely misinformed and are the easy targets for these kinds of online scams. So, before you indulge with them, read our detailed review and it will help you make a wise decision.
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Licenses, Certificates and Customer Support
The law and the regulators are trying their absolute best in the financial sector to educate the public. Unfortunately, the crooks are always one step ahead of the law and they come up with new ways to loot the newbie investors. This platform offers high risk investment products to the retail clients and in order to do so, they have to be regulated by the FCA.
However, we didn’t find any information about them on the database of the authorities which means the activities they are conducting is outright illegal. As we couldn’t find any names or profiles associated with this platform, we can’t do much when it comes to identifying the actual culprits.
While they do feature a mobile number on their website, know that it isn’t operational now and that means email is the only option left. Observing their interactions closely, it is clear that they want to operate anonymous because they do realize that if caught, they will be subject to severe consequences.
How does 24Onlinefx.com Work?
According to the narrative on their platform, they are said to be making money by investing in new startups, ICOs, cryptocurrency trading and mining. Usually most regulated firms try to be transparent with the public and they instill trust by publishing track records and updates of the portfolio allocation. This firm in particular does not share any details about the fund managers, trading strategies and the risk management measures they have in place.
Investors do not have a clue about the win rate of their trading model and given the amount of vague details, sending money to them would be worse than gambling. On their website, they boast of having multiple mining farms around the world, but as they have intentionally skipped over mentioning the exact address, it is impossible to verify their existence.
Even if we give them the benefit of the doubt, it is impossible to make considerable returns through mining due to the rising competition and costs. So, don’t take anything they say seriously and never make the mistake of trusting them with your funds.
Returns Promised
There are a number of investment plans on this platform wherein to achieve high returns, the investors have to start out with big bankroll. In terms of numbers, the returns promised by this firm extends upto 85% monthly. If you have a reasonable understanding of the economy and the markets, then you already know that, it is impossible to achieve this number consistently and they are obviously bluffing about their performance.
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Cryptocurrency displays volatility unlike any other asset class in the financial sector, but it certainly isn’t an easy way to get rich. In order to harness volatility you will need to have a very systematic approach and even then make sure you set yourself realistic targets or else the odds will eat up your account.
Referral Program
Partner program is the main thing which is responsible for the huge traction gained by this platform. Basically, the owners of this company have structured a performance driven marketing scheme in such a way that it provides huge benefits to both themselves and the marketers.
All the promoters get a flat percentage from the cumulative revenue they generate and all they have to do is redirect web traffic to this firm. Due to this conflict of interest, there are many fake blogs and channels out there which create false content to mislead the public and they pocket quick returns by peddling it.
Domain Insights
We used alexa.com and whois.com to figure out if we can trace the people running this firm. Unfortunately, we didn’t succeed, but below are the details which might help you in roughly figuring out their motives.
Domain – 24Onlinefx.com
Registered on – 11/12/2019
Expiry – 11/12/2020
Alexa Global Rank – Not Listed
Audience – Currently Unknown
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24Onlinefx.com Review Conclusion
24Onlinefx.com by definition is nothing more than a scam which is being perpetuated around the cryptocurrency markets. They have no real involvement in trading or mining and their only intention is to get access to your funds. Just like every other ponzi scheme, this one has scammed a lot of people and in the near future, it will crumble to dust and all the money invested will be lost permanently.
