This review explains why you should not trade any assets with the Truexoption247 broker. We show why it is a scam.
What is Truexoption 247
Truexoption247 is a broker that offers trading with stocks, CFDs and currencies on Forex. The company claims that it is one of the fastest growing in the industry.
The broker offers four types of trading accounts with minimum deposits starting at 200 USD. Every account is entitled to a deposit bonus, depending on the tier you will get 2 to 12% on your deposit. The company will also assist you with your trading
Truexoption247 claims to be based in California, United States. The question is whether Truexoption247 is a legit broker that you can trust?
Truexoption247 is a scam
Not only Truexoption247 is not a legit broker, it is a scam. This is why you have to avoid this company. In this review we bring you proofs.
Scams will typically show fake testimonials on their websites with stories of customers that don’t exist and photos that come from a public database. And this is exactly what Truexoption247 is doing.
As you can see in our picture below, the supposed customer Maxwell Joshua is fictitious because the picture portraying him is in fact a stock photo.
This fact alone makes Truexoption247 a scam, because companies faking testimonials are not trustworthy.
Truexoption247 gives a US address on its website, the broker supposedly is located at 8B Canoga Park, California. But it is not true, the address is fake.
The broker is not even located in the United States, its true address remains unknown to us. Which is a problem for a financial institution that you are supposed to trust with your money.
Not regulated and illegal
Although we don’t know where in reality the broker is based, we have to take at face value the information provided on its official website. At least for regulatory purposes.
So in this case Truexoption247 has to be considered as a US broker that is subject to laws in the US. As such it needs to be regulated, it needs an authorization to provide the services it provides.
But when you do a search about Truexoption247 on the SEC website, you will find nothing. Which means that the company is not authorized to be a broker. So it is acting against the law and it is an illegal broker.
We hope we don’t have to go into too much details when we say that you should not trade financial markets with companies that are illegal. Your deposit would not be protected in any way and the risk of losing your money would be far too great.
How Truexoption247 works
Based on the hundreds of reviews we have already made about shady investment companies, we can make an educated guess about how Truexoption247 works without risking our money with this company in the process.
Brokers like this one will be very kind to you until you want to make a withdrawal. If you deposit, trade and lose money, everything will be fine. But if you manage to make any money, you will see the true face of Truexoption247. They won’t let you withdraw anything.
They might show you some fake profits on your account and say that they will earn you even more if you deposit more money. But every deposit will be lost with them. This is why it is so important to stay away from this broker.
Truexoption247 review – Conclusion
Truexoption247 is an illegal and scam broker. You should not deposit any money with this company, don’t use it for trading.
If you are interested in financial trading, you can try it on a free demo account with a regulated broker. You will get virtual money for your testing.
If later you decide to trade with real money, you have to be sure that you understand the risks.