247OptionsTrade is a rather new investment broker that offers forex, binary options, contracts-for-difference and cryptocurrency investing options. The domain 247optionstrade.com was created on July 14th, 2017. Due to this brokerage being relatively new, no credible information can be found anywhere on the net. Claiming to be CySec regulated, we will provide you with all the facts needed in our comprehensive review to determine whether this brokerage is all they claim to be or if they are just another scam operation.
Who is Behind 247OptionsTrade?
Not much information is provided in regards to the corporate entity behind this online brokerage. According to ICANN, 247OptionsTrade.com was registered with a privacy package so finding information regarding the creators behind this site exceeds our ability. Upon further investigation we discovered through the alleged CySec License Number: 215/13 that the company registered with this regulation is different, not 247OptionsTrade, and is known as A-Conversio Capital LTD. This discovery directly contradicts and therefore greatly undermines the legitimacy factor of this brokerage.
As you can infer from the image above, the only approved domain associated with CySec License Number: 215/13 would be www.a-conversio.com. What this discovery informs us of would be that 247optionstrade.com is not a regulated investment broker and that they are deceptively providing a taken regulation license and pretending that it is their own.
According to the site, the address provided for 247OptionsTrade is 22/121 Apple Street, New York, NY 10012, USA. A Google search of said address will indicate that the physical address provided belongs to a company known as AAH Consultants, LLC. The phone number provided for the address indicated above is (301) 429-1750, not (501) 379-7129 as mentioned at 247optionstrade.com. A simple search query will confirm that the telephone number is a landline based out of Oakland, California.
The only seemingly legitimate contact information provided on the site would be their email address which is email@example.com. Since the only correct contact information provided is their email address, this allows 247OptionsTrade to remain an anonymous brokerage, which is the worst characteristic you can come across with online brokerages.
Due to the young age of this brokerage, its ranking reflects a rather poor status. According to SimilarWeb, this site possesses a global rank of 5,980,363 with a U.S. rank of 3,763,004. Approximately 60.37% of the traffic that visits the site comes from individuals who reside within the United States while the other 39.63% of the traffic originates from those who reside within Nigeria, Ghana and Ukraine.
What does 247OptionsTrade Offer?
247OptionsTrade is a white labeled broker that is powered by SpotOption technology. This classifies this brokerage as a SpotOption brand which allows the investment of binary options, Forex, cryptocurrencies and CFD options.
There are 4 separate account packages available through 247OptionsTrade:
The Bronze Package requires a minimum deposit of $500, offers a return rate up to 200% and lasts for a duration of up to 30 days.
The Silver Package requires an initial deposit of $1,000, offers returns rates up to 400% and last for a duration between 14 to 30 days.
The Gold Package calls for a $5,000 minimum deposit, comes with deposit and withdrawals bonuses, “fast payouts,” and lasts between 14 to 30 days.
The Platinum Package demands a $10,000 initial deposit and comes with deposit and withdrawal bonuses. The fastest execution of withdrawals occur (no information on how quickly is provided) and this package comes with 24/7 account updates. Free webinars and email notifications are also included with this membership while this package lasts anywhere between 7 to 30 days.
Other sections on the site such as FAQ, Asset Index, Support, Privacy & Policy Statement along with Terms & Conditions are not available on the site.
247OptionsTrade Fabricated Elements
Deceptive and fabricated elements are found all throughout the site. As we have already disclosed, the regulation license number has nothing to do with 247OptionsTrade and the only contact information that didn’t turn out to be phony would be their email address. Unfortunately, the lies and deceit don’t stop there with this shady investment brokerage.
As you can gather from the image above, all of the testimonials provided on the site are fake. It appears that these images are purchased stock images from some online image bank, most likely shutterstock.com but we are uncertain. What we are certain about is that this site cannot be trusted with the amount of fabricated testimonials and falsified elements dispersed throughout the site.
Due to the dishonesty and fabrication of numerous elements found at 247OptionsTrade we have no other choice then to conclude that this brokerage may be a SCAM! If you ever come across an online brokerage for any investment field that isn’t open about their identity from the get-go then it should indicate to you that this is a broker that cannot be trusted. Misleading investors to believe that they are regulated by CySec is downright pitiful and not tolerable to any degree.
One simple measure you can enact to better understand whether an online brokerage is reliable or not would be to simply Google search the provided address, telephone and alleged regulation license numbers provided on the site. These simple measures, if pursued, can save you from financial losses and hardships further down the road.
Our conclusion – Avoid 247OptionsTrade!