- Extortion, and Blackmailing
- About 23Traders
- What Does It Offer?
- Blacklisted by FCA
- Website is Down
- Poor Customer Service
23Traders is a forex broker that has been the center of much criticism. We are going to review this platform and see how it fails to offer satisfactory results to the user. We will see what it provides to get to the root of the issue.
23Traders is an unlicensed binary broker. This company is a subsidiary of Hermes Ventures LTD. The given address is Financial Service Centre, Stoney Ground, Kingstown, Saint Vincent, and the Grenadines. 23Traders is a new broker and has made its mark on the marketplace. Following, we are reviewing what this binary broker offers, and how it benefits the consumer!
23Traders uses SpotOption trading platform instead of binary options brokers. It supports high-speed trading in 30, and 60-second options as well as 2 or 5 minutes options. It offers Several Pairs, Long Term Binary Options, Ladder, and High Low Options. The broker has 200 tradable assets including Oil, Gold, Forex Pairs, Commodities, and Stock Market Indices with Individual Stocks.
We found several issues with 23Traders, which we are going to share below. Make sure you check these out!
The Financial Conduct Authority of the United Kingdom has Blacklisted 23Traders.
According to the FCA, the broker was operating the UK without authority. Moreover, it engaged in malpractices and was ripping off its customers. Therefore, the authority blacklisted this broker and warned everyone against using it.
Yes, the official site is down, and we don’t expect to see it back again soon. This is very common in the forex marketplace. Once the broker collects enough money, it escapes. Yep, it closes all channel of communication with the clients and fades away while taking their money.
This is what happened with 23Traders. They met their criteria, and now they made a run for it. The best thing you can do is hiring a recovery agency.
Excellent Customer Service and Support is crucial for any business. Every trader needs the broker to answer their question or queries. If a broker can’t respond to their messages, it causes tension and shows the broker is a fraud. Unfortunately, this is the same case with 23Traders! Their customer service is one of the worst we have ever seen. This is yet another reason we advise you to stay away from it.
23Traders doesn’t care about its customer base. Instead, it only cares about how much money they put into the trading accounts. The company is so focused on increasing the account balance that it doesn’t hesitate to extort the money. Yes, there are several instances where this broker called the trader and blackmailed them into putting more money into their accounts.
Unfortunately, we couldn’t find anything positive about this broker. Yes, 23traders is among the worst reviewed traders out there. It is blacklisted by one of the most powerful financial authorities. It has poor customer service and even tries to extort money from its clients.