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Elcomercio24 Broker Review
Elcomercio24 appears to be one of the brokers with the most regulatory warnings against the brand in 2021. As a result, we’ve chosen to warn you about this trading fraud and expose all of the strategies and techniques that the brokerage uses to defraud its consumers. Find out everything in our Elcomercio24 review.
Broker status: Offshore Broker
Regulated by: Unlicensed brokerage
Blacklisted as a Scam by: FI, CONSOB, CNMV, BCSC, DFSA
Owned by: 8 DOTS LTD
Headquarters Country: Saint Vincent and the Grenadines
Foundation year: 2017
Supported Platforms: AirSoft
Minimum Deposit: 500 EUR
Cryptocurrencies: Yes
Types of Assets: FX, commodities, indices, shares, cryptocurrencies
Maximum Leverage: N/A
Free Demo Account: No
Accepts US clients: No
Elcomercio24 Scam Regulation
Elcomercio24 is a brand of 8 DOTS LTD from Saint Vincent and the Grenadines. It’s located in the notorious Griffith Corporate Center, among CCXMarkets, Capital Investment Broker, and other scams. We investigated Tier1 registries because this country has no official regulatory authority and instead directs brokers to select for regulation in the country of service. Instead of the Elcomercio24 rule, we discovered several warnings. It was only the first of numerous warning flags associated with this trading scam.
Warnings From Financial Regulators
As previously said, Elcomercio24 broker is frequently recognized as the most dishonest firm of the year. Several agencies issued official warnings, the first of which was the Spanish CNMV. Following that, we received the identical warning from the Swedish FI. It was also followed by one from the Italian CONSOB. The BCSC, a Canadian regulator, issued a warning on Elcomercio24, classifying it as an unregulated scam. The most recent warning came from the Danish DFSA, which stated the same thing: avoid Elcomercio24 at all costs.
Elcomercio24 Withdrawal Issues
As a result of all of the warnings, Elcomercio24 was founded with a single aim in mind. To extort as much money as possible and then vanish. Many regulatory organizations blacklisted the firm, which offered the AirSoft platform, one of the most notorious trading software technologies.
The broker can access all of your trades and funds by using this platform. Furthermore, on the broker’s website, there is a link to download AnyDesk so that the account manager can access your desktop and, through it, your online banking.
When you request a payout, your funds will be removed from your account.
Based on Elcomercio24 reviews, most scammed clients come from the:
- UK
- Sweden
- Norway
- Spain
After all was said and done, traders had an unfavorable image of the broker. Everyone was pushed to download AnyDesk and make an initial investment in Bitcoin and other cryptocurrencies. According to the broker, it is a prudent investment that protects both parties. However, crypto transactions are difficult to track and chargeback is impossible, so if you want to invest, the safest technique would be to use your credit card with the option to reverse the transaction afterwards.
Are you having trouble successfully requesting a withdrawal from your broker? Tell us about it and add a comment.[/vc_column_text][/vc_column][/vc_row]
