21stOptions Review Is 21stoptions.com A Scam

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21stOptions Review: Is 21stoptions.com A Scam?

21stoptions.com Review: this is the website of a broker that alleges to be located in Luxembourg. Is it safe to trade with 21stOptions or not? Read this revealing review to find out important details about this Forex trading company.

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.

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On the “About us” page, the broker claims to be headquartered in Luxembourg and licensed by the CSSF. The Commission de Surveillance du Secteur Financier (CSSF) is the trade regulator in Luxembourg in truth. But the commission does not license or permit 21stOptions Ltd to trade in the region. Instead what we find is a warning against it.

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 21stOptions

The broker claims to offer CFDs and forex along with many trading options and instruments. Order executions are said to be lightning-fast and the minimum deposit is quite low and affordable. Trading platforms are both web-based and available on mobile for easy access to accounts.

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.

21stOptions Trading Platform

The trading platform used by clients of 21st Options is not a MetaTrader. 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.

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.

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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 80+ forex currency pairs, shares, cryptocurrencies, indices, and other commodities. 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 not stated and while some may seem generous, they are not advised. High leverages can lead to a huge loss of funds as well. Spreads are not disclosed.

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 on 21stOptions

The means of making deposits and withdrawals with this broker are not listed. We do not feel assured by these missing transaction options 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.

A minimum deposit of $50 and this is within the obtainable average of $100 to $250 usually required by many other brokers. Withdrawal fees are not mentioned and this may be because they do not apply. However, we will appreciate it if this is stated.

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.

Is 21stOptions Licensed?

No. 21stOptions is not a properly licensed and registered broker. The CSSF does not list it among regulated brokers in Luxembourg.

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.

Blacklisted in Luxembourg

Like we have mentioned in the opening, rather than being regulated by the authorities in the region, we found that the broker is blacklisted.

Residents are warned to avoid the firm as it uses fraudulent details on its website.

Support

To contact the broker or the customer support service, dial +19093283392 0r send an email to [email protected]

Conclusion

21stOptions is rated low because of the disturbing things found about it, namely; the lack of license and blacklisting. It does not offer access to the popular MetaTrader platform as well and gives no clear information on leverages and spreads. But it requires an affordable minimum deposit and the trading instruments offered are encouraging.

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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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