Forex24 Market Review

About Forex24 Market

Forex24 Market operates via the domain forex24market.com and claims to have regulatory licenses from CySEC (No. 199/15), BaFin (HRB 169734 B), and FSC (C116017181), along with purported regulation by an FSA (No. SD057); however, none of these can be verified in the official registers of the respective authorities (). The UK Financial Conduct Authority (FCA) issued a public warning on 9 March 2022 stating that Forex24 Market is not authorised and is targeting UK consumers (). Additionally, the Bank of Russia identified the entity “Forex24 Market” (including Forex24 Market Ltd or COMPANY) as showing signs of illegal activity as a financial securities market participant, listing the domain forex24market.com on 28 March 2022 ().

Pros and cons

Pros

• None of the listed regulatory claims (CySEC, BaFin, FSC, FSA) can be confirmed via official regulatory registers.

Cons

• Not authorised by the FCA; included in FCA’s warning list dated 9 March 2022 ().
• False or unverifiable claims of regulation across multiple jurisdictions (CySEC, BaFin, FSC, FSA) ().
• Flagged by the Bank of Russia for potential illegal securities market activity on 28 March 2022 ().
• Lack of transparency regarding trading platforms, account types, minimum deposit, spread, leverage, base currencies, swap-free status, ability to hedge, use of EAs, and domains beyond forex24market.com.