SevenTrade24 Has Been Added To The CONSOB Warnings List. BEWARE!

SevenTrade24 claims to be a world-renowned financial forex broker, allowing customers worldwide to invest in over 1,000 world-class assets such as forex, equities, commodities, and indices. However, it lacks the necessary authority since it does not get worldwide licensing. It even fabricates a bogus license to entice traders in order to carry out its scam tactic.

The WikiFX app is a forex trading search engine tool that provides reliable information about the broker's regulatory status. The WikiFX database is updated with the most recent information on a forex broker with the assistance of 30 financial regulators.

The WikiFX app was built in response to the incorrect information that has been put on the websites of unregulated brokers. Without first researching the true status of a broker's regulation, an investor may be readily swayed by the claim that they are regulated. This is when the majority of the swindle begins!

False Regulation Statement

SevenTrade24 is a licensed online broker, with the International Financial Services Commission (IFSC) authorization number IFSC/XX/SevenTrade24/XX/XX.

The International Financial Services Commission (IFSC) is the Belize government organization in charge of financial regulation. It is in charge of regulating all financial market players, exchanges, and the establishment and enforcement of financial rules. IFSC offers international licenses to a number of foreign online forex brokers. The previous IFSC has now been renamed the Financial Services Commission (FSC) after the enactment of the Securities Industry Act in 2021.

However, no SevenTrade24 records were identified on Belize FSC.

A Newly Created Website

SevenTrade24 (https://seventrade24.com/) was initially registered in October of 2021. This is the first red flag in this area. Furthermore, the data indicates that the domain will expire in October. This is done on purpose since the firm will simply relocate to a new website and continue to modify its image for scamming after 6 to 12 months. It is a frequent deception strategy utilized by con artists.

CONSOB Issues a Warning

Furthermore, the Italian financial regulator, CONSOB, has issued a warning that SevenTrade24 is not permitted to provide investment services or operations. That is, the firm is an unlicensed forex broker. Clients who invest in the company are unlikely to receive their money back if things go wrong.

Based on the evidence shown above, we can conclude that SevenTrade24 is a hoax.

Visit SevenTrade24 dealer page on WikiFX: https://www.wikifx.com/en/dealer/4009753230.html

WikiFX's Right Protection Team urges traders who have seen unlawful activity with their brokers to report them so that they may be investigated and rectified.

You may also contact WikiFX Customer Service for immediate help.

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