Caution! ClassicFx24Trade is an offshore company! Your funds may be at risk.
ClassicFx24Trade Key Features
🔴 ClassicFx24Trade is an officially exposed scam- evidence of a scam!
🔴 ClassicFx24Trade has negative reviews– a warning sign!
🔴 ClassicFx24Trade is not transparent- a major red flag!
🔴 ClassicFx24Trade creates unrealistic expectations- a major red flag!
ClassicFx24Trade Products and Services
ClassicFx24Trade seems like a Forex brokerage offering standard leveraged trading, but that's not actually the case. It fails to provide information about essential features such as real-time spreads, leverage levels, slippage (if any), trading commissions and so forth, but even this isn't the biggest problem.
On the other hand, though, ClassicFx24Trade stresses too much on its MLM referral programme, saying that it's paying the highest affiliate commissions. They don't specify anything about that, too, but allegedly customers benefit greatly from the multi-level marketing opportunities. And purportedly, some happy customers already participate and make money. For example, I Barkov writes the following:
“I would like to thank CLASSICFX-24TRADE and personally my affiliate manager Noreen Muyco for her attentiveness to me from the very beginning of our collaboration. I sincerely appreciate the time she spent reviewing my requests and for helping me make successful decisions. Her advices were very helpful and gave me a new perspective on available opportunities to work with CLASSICFX-24TRADE.
I especially appreciate the best CPA offers from CLASSICFX-24TRADE. I am using also the online CLASSICFX-24TRADE system and it works perfectly from the time I joined the CLASSICFX-24TRADE program. I greatly appreciate the assistance provided to me by CLASSICFX-24TRADE.”
M. Fulgar is another user claiming that ClassicFx24Trade is among the best. He says that: “We have been working with Noreen and her team at CLASSICFX-24TRADE for a few years now. It has always been great working with people who are hard-working and will go the extra mile for their partners. They are polite and very helpful at all times, especially during the end of the month when it's time for our reports and collecting our commission. We look forward to more years of partnership with CLASSICFX-24TRADE.”
And another one is suspiciously very grateful to ClassicFx24Trade. M. Pavlov claims that: “CLASSICFX-24TRADE was one of the first programs I started to work with when I set out as a Forex affiliate and they are still one of my main partners after so many years. Considering there are hundreds of FX affiliate programs around today, that truly means something. They really have a top team – superior affiliate managers, awesome sales people…. that's money in the bank for me. I highly recommend them!”
But there is more to it! ClassicFx24Trade claims to provide some of the best customer service available, including:
In-Depth Reporting: Affiliates can monitor the progress of their campaigns with our detailed and live affiliate platform;
High Commissions: They purportedly offer one of the highest commission structures. Choose from CPA, Revenue Share and Lot Rebate;
Dedicated Affiliate Manager: An affiliate manager will be assigned to each affiliate's account to advise on performance improvement;
High Conversion Rates: provide affiliates with cutting-edge marketing materials optimised to generate more traffic;
Live Chat Support: Affiliates operators allegedly provide support five days a week.
Well, we doubt that the customers' reviews are authentic, but ClassicFx24Trade definitely works like an MLM scheme and supposedly pay significantly to those who entice new customers into the scheme. In truth, ClassicFx24Trade is a scam, and in the following sections, we'll prove it. But for now, just bear in mind that ClassicFx24Trade is a fishy brokerage offering highly questionable trading and MLM opportunities.
Scams involve investments with ultra-high ROIs, get-rich-quick schemes, or guaranteed profits. Always be wary of investment possibilities that offer a large return with little or no risk — if it seems too good to be true, it most likely is, so that's potentially a scam. Also, note that during volatile times, any investment that regularly increases month after month—or that produces astonishingly stable returns independent of market conditions—should raise questions. Even low-risk investments are not entirely secure. Therefore, every time you see promises for risk-free guaranteed profits, you should remain sceptical because these people aim to create a false sense of security. Beware!
ClassicFx24Trade Company and Regulation
So, the brokerage purports to be “a trading name of CLASSICFX-24TRADE (UK) Limited, HF (Europe) Ltd and HF Limited. CLASSICFX-24TRADE (UK) Limited is authorized and regulated under the Financial Conduct Authority with reference number 186171. HF (Europe) Ltd is authorized and regulated under the Cyprus Securities and Exchange Commission under license number 259/14. HF Limited is authorized and regulated under the Cayman Islands Monetary Authority under reference number 1442313. The CLASSICFX-24TRADE group is a holding company and its assets are a controlling equity interest in its subsidiaries, CLASSICFX-24TRADE (UK) Limited, HF (Europe) Ltd and HF Limited. All references on this website to “HF” refer to all subsidiaries of the CLASSICFX-24TRADE Group.”
It also wants us to believe that it won several Forex awards: the Best Forex Broker Middle East 2018|World Finance; Best Forex Broker 2018 | Europe; Best Forex Broker, Dubai 2017 | Global Brands Magazine; Best Forex Broker, UAE 2017 | Global Banking & Finance Review.
Well, none of it is true. Not even a single word! The truth is that ClassicFx24Trade is an exposed scam blacklisted by the Cypriot regulator CySEC. Your money will be in danger if you deposit!
Almost all regulators frequently update their warning lists with shady business entities selling financial products and services without authorization. In other words, all these companies are breaching financial rules and regulations; therefore, they are unsafe and, most usually, scams. Needless to say, you should avoid any company with a warning on its name.
The US regulators are no exception. For example, SEC has its PAUSE list, including business entities falsely claiming to be registered, licensed, or located in the States. The PAUSE Program also lists impersonators, fictitious regulators, governmental agencies, or international organizations- scams, in other words. Additionally, CFTC maintains a RED list (Registration Deficient List) containing names of unauthorized foreign entities that appear to be acting in a way that requires registration with the CFTC. However, the RED list inclusion doesn't necessarily mean that the particular entity has been caught in violation, but you'd better remain cautious.
The bottom line is that you should avoid any investment scheme with a warning on its name, and generally, any firm that's not regulated but offers financial services.
ClassicFx24Trade Address and Contacts
ClassicFx24Trade claims to have over 40 years of excellence and up to $780,000,000 profit share. It also pretends to operate in 162 countries, serve 4,200+ affiliates and 65,000+ clients and to have paid $15,000,000 to affiliates. And with that said, we'll add that the scam broker doesn't even care to reveal its actual location and doesn't provide any other contact information whatsoever.
And it gets even funnier as ClassicFx24Trade desperately tries to reassure that it's the most transparent broker of all. That's a scam! But nevertheless, if we set all fraudulent claims aside, it's always a warning sign when there is a lack of transparency.
For investments, transparency is essential since you should know who is managing your money and where it actually is. Legitimate businesses always operate in a transparent manner, and they are required by law to disclose their headquarter address, phone numbers, and all legal documents that detail the provisions of the service. And our experience tells that if you can't reach these people over the phone number provided, can't verify the locations, or can't confirm in any other way that the investment provider is authorized to sell financial goods, then that's most likely a fraud. So, regardless of the warning issued, we can guess there is something wrong with the investment scheme in question.
Is ClassicFx24Trade Safe?
ClassicFx24Trade is not safe! It's a dirty scam exposed by the regulators, so make sure to avoid it no matter what. It sounds tempting to hear that ClassicFx24Trade offers you the opportunity to earn high commission levels from one of the most established and reliable affiliate programmes around. The brokerage also encourages customers to introduce their clients to the exciting and fast-growing world of online trading and generate high conversion rates with the traffic, but it's all scam! ClassicFx24Trade is a fraudulent scheme disguised as a Forex brokerage! Avoid!
For various reasons, dealing with unregulated investment platforms is always a terrible idea. Above all, the lack of regulation strongly signals that something fishy is going on there, as only licensed companies can provide investment services. As you might expect, scams can't thrive in a robust regulatory environment, so consider twice before depositing with unlicensed investment providers.
A scam or a fraud is any crooked scheme devised to defraud you out of money or steal your personal information, and every scam setting is practically unregulated. Scammers work with hackers, too, and often buy bulky packages of information, including phone numbers, e-mails, social media profiles and other personal details of customers, which greatly facilitate scams. So, if someone contacts you out of a sudden, you'd better always consider the possibility that it could be a scam.
Scammers target many people and constantly evolve their approach making scams harder to recognise. In particular, the crypto scam is now booming for two particular reasons- lack of knowledge and popularity. There is a third one, too- scammers take advantage of the less regulated environment to lure people into crooked scam settings that have nothing to do with crypto at all. In any case, it's getting harder to spot potential fraud, but warnings issued by regulators help to raise awareness, and you'd be much better off if you always research thoroughly before any investments have occurred. Markets are plagued by scammers, and it's for real.