24proinvestors is a foreign exchange and crypto broker registered in Saint Vincent and the Grenadines. 24proinvestors calls itself an emerging global financial trading market leader, focusing on cryptocurrency products, with small spreads and a leverage of up to 1:200.
It claims to provide an MT4 trading platform. In addition, the website advertises a wide range of trading products. They also meet the industry average needs and require a minimum deposit of US$250.
Although the broker’s offer looks attractive, you should be aware that none of this matters if the broker does not have the proper license and is run by a scammer.
Regulation and safety at 24proinvestors.com
First, let’s start with the regulation. The Italian financial regulator CONSOB has marked 24proinvestors as a scam.
Saint Vincent and the Grenadines is a well-known offshore area and the preferred location for shady brokers. The SVG government has publicly stated many times that it does not regulate foreign exchange transactions, so we can easily conclude that 24proinvestors’ business is unregulated.
Trading with offshore, unregulated brokerage companies is connected to many risks. Also, the broker seems to mix the company’s finances with the client’s finances, making an absolutely unsafe environment for clients’ funds. To conclude, there is a severe red flag about 24proinvestors’ safety concerns, and we do not recommend any trader to cooperate with the company.
24proinvestors trading platform
The broker claims to provide MetaTrader 4 trading platform, which is an advantage we have always believed. MT4 is currently one of the most critical trading software in foreign exchange transactions, and nearly 80% of users like it.
The platform provides advanced chart packages, a large number of technical indicators, an extensive backtesting environment, and various intelligent trading systems (EA). However, we could not register for a demo account at 24proinvestors.com.
We could not download the platform from the website at all. So, even if information about trading conditions is provided on the broker’s website, especially when it comes to shady broker’s website, we can’t 100% be sure it is true or not.
Account types and minimum deposit
The standard account of 24proinvestors requires a minimum deposit of USD 250. However, the broker does not seem to provide micro accounts where you can make micro-hand transactions.
Just for the record, 24proinvestors wants you to invest 2,500 USD in their classic account, 20,000 USD in their gold account, and 50,000 USD in their premium account, which is not really affordable for basic traders.
What leverage does 24proinvestors have?
24proinvestors provides leverage up to 1:200. There is no doubt that higher leverage is attractive-it provides you with greater flexibility and the opportunity to make considerable profits through a relatively small transaction volume.
However, when the market is not suitable for you, higher leverage will increase the risk of major losses. Thus, you should use it with caution. Thus, when it comes to unreliable brokers, high leverage is not that good news.
What payment methods does 24proinvestors offer?
24proinvestors only accepts Bitcoin payments. In general, the problem with all bitcoin payments and encrypted payments is that they are almost anonymous and 100% irreversible. This is different from payments made with VISA or Mastercard. While you can apply for a refund to prevent fraud with your bank cards, this is not possible when you pay by bitcoin.
On their homepage, 24proinvestors displayed the logos of VISA, MasterCard and two electronic wallets-Neteller and AstroPay. However, as we pointed out, the only payment option is Bitcoin.
To sum up, 24proinvestors simply enriched our vast list of scam brokers. We do not recommend cooperating with them, and we hope our review will be handy for your future decisions.
Besides all these, 24proinvestors have recently deactivated the website, probably because they were noticed in hazardous activities.
Anyway, If you desire to start trading and search for a decent broker, check out our forex brokers list. You will find various brokerage firms with a good reputation, excellent trading conditions, and severe regulation policies. So, be safe. We wish you a successful trading experience.