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Detailed SummitTrade24 Review – Potential Scam Broker 2021
Today there are uncountable number of trading scams including Forex trading scams, Binary trading scams, Cryptocurrency scams, Bitcoin scams, Romance scams, etc. According to our research and findings, many of this broker’s clients lose their deposits. Fraud Reports Online does not recommend the investors to trade with the SummitTrade24 broker as the loss percentage with them can be higher than that of other trading brokers.
There are many suspicious things with regard to the SummitTrade24 broker.
From unclear information to all the way of the company’s suspicious activities, it is suspected to be a potential scam broker. We suggest our readers to avoid transactions with the SummitTrade24 broker as it is claimed to be not a trustworthy trading firm. Here, our expert team has done the full research on the summittrade24.com scam and came up with the required information. This SummitTrade24 review gives all the reasons as to why you should avoid investing with the broker. Please note that the findings are based on the information available on internet through trader reviews, complaints received and warnings from the regulating authorities. It is up to the trader to take his/her decision to trade with this broker.
SummitTrade24 Review – Broker at a Glance-
Broker Name -SummitTrade24
Broker Website- https://www.summittrade24.com/
SummitTrade24’s Regulations and Security – None
Owned By – summittrade24.com
Warned By- Securities and Exchange Commission
The regulation status of the broker is the salient feature that does not only ensures the legitimacy of the broker but also offers the safety of the funds. Here, the SummitTrade24 broker seems not to be regulated by any financial authority. It gives a clear indication of the broker being involved in forex scam activities. Investors should be aware that the warning given by the financial regulators such as CySec, ASIC, FCA, CNMV, FINMA, etc to the scam brokers are true in their sense and one should not go ahead with the investments with those firms.
Investors About SummitTrade24 Scam –
According to the reviews, the investors have nothing good to say about the SummitTrade24 broker. The traders are mostly complaining about the broker with regards to the withdrawal issues, unclear terms and conditions for trading, misleading information on the website, etc. The number of complaints has been registered by the client of the FRSummitTrade24O stating the number of issues. Furthermore, the negative reviews and low star ratings conclude that the broker is not up to the expectations of the investors.
Possible Scam Activities of SummitTrade24 Broker –
- The broker is making some false claims on their website in order to gain the trust of the investors.
- The regulations and rules are not clear of the broker, stating the unsafety of funds.
- The inability of traders to have smooth communication with the broker and the customer care executives.
- The promises made by the broker are too good to be true on the basis of returns and earnings.
- Located in the countries and small islands with no proper regulation where getting registered is easy.
- Find it difficult to make a withdrawal, as the broker comes with new policies every time.
- Very little or no information is available on the website with regards to the risk warnings.
Scammed By SummitTrade24? Tell us Your Story!
If you have fallen prey to a SummitTrade24 scam or similar bogus broker, remember that you are not the only one being scammed. There are plenty of traders going through the same. The scam brokers have their methods and techniques of defrauding their clients and disappearing. But, there is always a solution. The investors can take immediate action against the fraud broker by filing a complaint with Fraud Reports Online. We, with our experience and expert knowledge, are here to guide you in a smooth manner.
Also report your case here, if you are a victim of forex scam, cryptocurrency scams, romance scams, tax scam, pension fraud or any other.
File a complaint and tell us your case. Let’s get your lost funds back now!
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