Premium24Option Review Is Trading With Premium24option.com Safe

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Premium24Option Review: Is Trading With Premium24option.com Safe?

Premium24option Review: this is the website of a Forex broker that is based in an offshore region offering an excellent trading platform. Is it safe to invest funds in Premium24Option? Consider our reviews and see our expert take on this.

The most vital part of our reviews is the uncovering of if a company or Forex broker is properly licensed or not. To do this, we first establish the location or region where it claims to be based. Then we check with the commission or authority regulating trade there whether it is listed among regulated companies or not.

Premium24Option discloses that it is based in Saint Vincent and the Grenadines. It also mentions that it is linked to Wallfort Limited, in Cyprus. Forex activities in the region are under the jurisdiction of the Cyprus Securities and Exchange Commission (CYSEC). When we checked the online register of the authority, there was no mention of the broker or its parent company.

Trading with a Forex broker that is unlicensed poses many dangers to traders’ funds. Misappropriated funds may not be recoverable by the government as well. Unlicensed brokerages are not under any rules of traders and this puts traders in more risk than they will be in if they had chosen properly licensed ones.

Advantages of Premium24Option

There are no extra fees required when clients use any of the payment methods supported. Returns on investment of up to 92% are promised along with a seamless and flexible platform. Trades can be done on any internet-enabled device. They promise secure and fast trading services.

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It is common for Forex brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.

However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.

Premium24Option Trading Platform

No useful information is provided about the trading platform provided for clients of the Premium24 Option Forex broker. We advise readers and traders to always look out for the MT4 or MT5 platforms. The MetaTrader platforms are commonly used because they allow the use of trading robots.

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Legit brokers are known to offer at least the popular MetaTrader 4 or 5 trading platform.

These platforms are very good signs as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating systems. All can be used on desktops, Linus, Windows, iOS, and Android.

Tools that come with these trading platforms are also found to be useful for traders. It has proven to be user-friendly as well and helps traders in analyzing the market easily.

Trading instruments offered to traders are not listed, which is not advised of any serious brokerage. We know that legit brokers offer currency pairs, indices, CFDs on many commodities and cryptocurrencies. It is important to let traders know the options open to them.\

The maximum leverage offered to clients is 1:100 and while some may seem generous, it is not advisable. High leverages can lead to huge loss of funds for inexperienced traders. Spreads are hidden from the public.

Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.

Deposit and Withdrawal Methods Premium24Option

Clients of Premium24Option are not informed of what the means of deposit and withdrawals are. We are also encouraged that popular e-wallets are not allowed.

This is because standard and legit brokers make deposits and withdrawals available via Visa, MasterCard, and Wire Transfer. Many offer e-wallets like Skrill, Neteller, UnionPay, FasaPay, and so on.

The minimum deposit required is not talked about anywhere on the website. This makes it difficult to point out if it is within the average or not. But, readers should know that many legit brokerages require between $100 – $250 or even lesser. The withdrawal conditions of this broker are not listed, which is suspicious.

This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.

It is also important to note that this brokerage wants traders to believe that they can get 92% returns on their money. This is simply ridiculous if the company is truly trading in the unpredictable world of Forex markets.

Is Premium24Option Licensed?

No. Premium24Option is not a licensed brokerage and cannot be trusted. It falsely claims to be registered in Cyprus while it operates from an offshore location. Even if anyone comes across a mention of licensing from this firm, so long as it is based in the offshore location, it is not likely to be a trustworthy one.

Regulated Forex brokers in Europe, America, Africa, Australia, and Asia are under many strict rules. The regulatory bodies like the FCA, FSCA, CySEC, AISC, NFA and many others have regulations protecting Forex traders from unfair brokers. This is why they come top as recommended Forex brokers.

Support

To get more information about this broker, contact customer support services via the message link on the page.

Conclusion

Premium24Option has proven to be a broker unworthy of trust and thus, we rate it low. It does not reveal enough information for us to go on with and tries to falsify some claims. Do not invest with any company promising returns that sound too good to be true.

COMPARE WITH A TRUSTED BROKER

Fortrade

Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide.. visit their official website

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