Ok247Trade is an official brokerage registered on October 11, 2022, offering Contracts for Difference (CFDs). This broker primarily uses trading platforms such as MT4, MT5, and cTrader, along with their corresponding mobile apps, to provide users with a wide range of trading markets, including Forex, commodities, stocks, indices, bonds, and cryptocurrencies.
Company Registration Information and Regulatory Status:
Public information on the Ok247Trade official website indicates that the brokerage's headquarters are located in Germany, while the contact address provided at the bottom of the website is in London, UK. Besides this, the broker has not provided detailed company registration information or regulatory details on its website.
Upon verification, both the UK Companies House and the German Commercial Register websites do not list a registered entity named "Ok247Trade".
Moreover, the web design of this broker is copied from IC Markets, similar to scam brokers such as Linoxx, ExpertSync, Continentaloptionslive, Venosvista, Fenext, and Elon-Mining.
Account Opening Process:
To open an account with Ok247Trade, visit the broker's homepage and click on "Start Trading Now", leading to the account registration page. Here, fill in personal information such as name, email address, and phone number, set a password, and submit. Once submitted, the account can be successfully registered.
Trading Account:
The Ok247Trade official website does not disclose information regarding the types of accounts offered, nor details about spreads, trading leverage, minimum initial deposit, margin levels for margin call/stop out, trading commissions, minimum/maximum trade size, maximum open orders/positions, or minimum price increments.
Trading Platforms:
Ok247Trade claims to offer trading platforms such as MT4, MT5, and cTrader, but does not provide relevant download links. Moreover, these platforms do not list a broker named Ok247Trade.
Deposits and Withdrawals:
Ok247Trade supports deposits and withdrawals via credit/debit card, e-wallets, and bank transfers.
Summary:
Traderknows warns investors that Ok247Trade, just like Linoxx, ExpertSync, Continentaloptionslive, Venosvista, Fenext, and Elon-Mining, is a scam website that impersonates the well-known broker IC Markets. Investors are advised to choose brokers who are transparent with information, strongly regulated, and have a good reputation to avoid unnecessary financial losses.
Currently, this broker is marked as "Suspected Scam" on Traderknows.
