It would be extremely dangerous to trade with R24 Capital because the company is actually lying about their regulatory status.
The company is claiming to be registered as R24 Capital Group Inc and is based in Delaware, USA but at the same time alleging that their foundation is in the UAE.
Therefore, it is not clear where R24 Capital is operating from. Furthermore, their trading conditions don’t seem favorable despite the company wanting investors to believe that they offer good spreads.
R24 Capital Group is operating from the domain r24capital.com, which does not appear to have existed for a long period of time.
This is basically a brand new company trying to look as if it is established and willing to cater for the typical investors’ needs.
The only thing that R24 Capital offers is an MT4 trading platform with 60 different trading instruments across 4 asset classes.
Other features that the broker claims to offer are not as useful.
Even though they offer trading analysis, market updates and education, this is all in vain because a new investor will not benefit anything out of these features.
If you are an experienced trader, signing up and depositing funds with R24Capital will make you losses rather than the profits you’re looking for.
For that reason, we’re recommending the following trading and investing services rather than a scam like R24 Capital.
R24 Capital is not regulated
The one question that you might ask before committing funds to this company is whether R24 Capital Group Inc is regulated.
According to their website, the company holds an NFA license, meaning that they are “regulated in the USA”.
It is also claiming to be a registered money services business aka MSB.
However, when I look at the NFA website, I fail to find supporting evidence of the same.
The NFA database contains zero evidence of the alleged registration. In other words, R24Capital is telling lies on their website and expecting investors to trust them.
The reason for telling lies is that they want to secure clients’ trust and scam them in the process.
In terms of regulations, we wish to reiterate that Forex brokers in the US are members of the NFA and are also regulated by the Futures Commission Merchants.
The qualifications are strict, and a scam broker like R24Capital will never meet the standards that these financial regulators demand.
It’s all for the good of investors who struggle to make money and would like to safeguard their capital when they decide to invest it.
Leverage, spread and minimum deposit
The maximum leverage that this website offers is 1:200. This is the average but other good Forex brokers will offer you up to 1:500.
You have to understand that high leverage is a double-edge sword. If you miss-use it, you will burn your fingers.
In terms of spreads, the company offers 1.8 pips for the EURUSD pair (if you choose their STP account type) and 1.3 pips if it’s an ECN account.
In other parts of their website, the company is advertising spreads starting 0 pips. It’s hard to know where the truth lies because the company is obviously known for speaking lies.
Other than this, R24 Capital is demanding a minimum deposit of $500. This is quite high and unrealistic especially in this age where Forex brokers will accept anything starting $10.
Why we can’t choose R24 Capital at whatever cost
When you come across a Forex broker that claims to be licensed in the US but also operating in the Middle East, you should treat this as a red flag.
They need to provide evidence of their registration with the NFA rather than lie to traders with the intention of winning their trust.
Also, this broker does not appear to be popular. It is safe to trade or invest with popular financial services rather than try with companies that are just starting out.
Another trick that these scammers use involve fake endorsement badges which create the impression of quality, customer satisfaction and popularity.
Those badges are actually not endorsement but a marketing gimmick. Some of those brands that allegedly endorsed this scam were paid to promote the suspicious broker.
R24 Capital is neither reliable nor established in the Forex brokerage marketplace.
There’s no difference between this broker and a fraud like Platinum Hitech or any other suspicious financial company on the internet.
We just need to get this message home. Do not sign up or waste your time on this website.
There are better financial services out there that can give you decent returns for the long term.