247TRADING TARGETS is a broker website suspected of fraud, with its domain 247tradingtargets.org registered on February 27, 2024. The site claims to offer CFD trading services across numerous markets, including forex, indices, cryptocurrencies, precious metals, and crude oil.
Company Background and Regulatory Status
According to publicly available information on 247tradingtargets.org, 247TRADING TARGETS has received authorization and regulation in multiple jurisdictions.
247trading targets (SC) Ltd. is a securities dealer registered in Seychelles with registration number 8423606-1 and is regulated by the Financial Services Authority (FSA) of Seychelles under license number SD025.
247trading targets B.V. is a securities intermediary registered in Curaçao with the registration number 148698(0) and is regulated by the Central Bank of Curaçao and St. Maarten (CBCS) under license number 0003LSI.
247trading targets (VG) Ltd. is authorized by the Financial Services Commission (FSC) of the British Virgin Islands with registration number 2032226 and investment business license number SIBA/L/20/1133.
247trading targets ZA (PTY) Ltd. is authorized by the Financial Sector Conduct Authority (FSCA) of South Africa as a Financial Service Provider (FSP) with registration number 2020/234138/07 and FSP number 51024.
Additionally, the broker is registered with the UK's Companies House under registration number 2018AD947 and has a registered presence in Australia with ABN number 2018AD947.
Upon verification, it was found that neither the UK's Companies House nor the Australian company registry has a company registered under number 2018AD947. Further investigations revealed that the regulatory information mentioned on 247TRADING TARGETS' website actually belongs to the broker known as "Exness." Additionally, on the broker's “FAQs” page, it uses a different trading name, "Epitome Market," and the website address is changed to Epitomemarket.com.
Therefore, 247TRADING TARGETS is essentially a fraudulent website with no legitimate company entity and is using other brokers' regulatory information.
Trading Products
247TRADING TARGETS claims to offer various financial derivatives trading services, including forex, indices, cryptocurrencies, precious metals, and crude oil.
- Forex: The forex market is the largest and most active market globally, mainly trading different country's currency pairs, such as USD/EUR and JPY/GBP. Forex market volatility is heavily influenced by national monetary policies, economic data, and geopolitical events.
- Indices: Indices measure the performance of a group of stocks, such as the S&P 500, Dow Jones Industrial Average, and Nikkei 225. Index trading generally reflects the overall market or specific sector performance and is a key indicator of market trends.
- Cryptocurrencies: Cryptocurrencies are digital assets based on blockchain technology, such as Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). The cryptocurrency market is highly volatile and influenced by regulatory policies, market demand, and technological developments.
- Precious Metals: Precious metals include gold, silver, and platinum, generally considered safe-haven assets. Gold demand rises during global economic uncertainty and serves as a store of value. Precious metals prices are influenced by supply, demand, economic, and political conditions.
- Crude Oil: Crude oil is one of the world's most critical energy commodities. Its price fluctuation correlates with the global economy, supply and demand dynamics, and geopolitical events. Brent Crude and WTI are the most representative crude oil benchmarks.
Account Opening Process
The account opening steps on 247TRADING TARGETS are as follows:
- Visit 247tradingtargets.org and click "START LIVE TRADING" or the "SIGNUP" button at the top right corner to enter the account application page.
- Fill out the application form with your name, email, and login password. After submitting the form, the account is successfully created.
- After logging in, users must complete the KYC verification process to start trading.
Trading Account Information
247TRADING TARGETS claims to offer five different investment plans: Basic, Bronze, Silver, Premium, and VIP.
Basic:
- Investment Amount: $500 to $1,000
- Expected ROI: 15.2% return within 24 hours
- Option to copy junior traders
Bronze:
- Investment Amount: $1,000 to $10,000
- Expected ROI: 18.5% return within 24 hours
- Option to copy professional traders
Silver:
- Investment Amount: $10,000 to $50,000
- Expected ROI: 18.5% return within 24 hours
- Option to copy professional traders
Premium:
- Investment Amount: $50,000 to $150,000
- Expected ROI: 25.5% return within 24 hours
- Option to copy expert traders
VIP:
- Investment Amount: $150,000+
- Expected ROI: 35.2% return within 24 hours
- Option to copy expert traders
Additionally, the trading periods are divided into short-term (monthly) and long-term (annual).
Trading Platforms and Deposits/Withdrawals
247TRADING TARGETS claims on its website to offer the MT4/MT5 trading platforms but no information about this broker is found on the MT4/MT5 platform. Moreover, this broker only supports deposits and withdrawals via cryptocurrencies.
Conclusion
Traderknows alerts investors that 247TRADING TARGETS (247tradingtargets.org) is an illegal website with no legitimate company entity and without any regulatory oversight, using stolen information from other brokers. Investors should carefully consider and prioritize choosing regulated companies with transparent information to ensure the safety of funds and minimize investment risks.
