Watch for Scams: CONSOB Added SevenTrade24 to Warnings

　　False regulation statement

　　SevenTrade24 shows that it is a licensed online broker, regulated under The International Financial Services Commission (IFSC) authorization number IFSC/XX/SevenTrade24/XX/XX.

　　The IFSC is the Belize government agency responsible for financial regulation. It is responsible for regulating all financial market participants, exchanges and the setting and enforcing of financial regulations. A number of international online forex brokers obtain their international license from IFSC. With the passage of the Securities Industry Act, 2o21, the former IFSC was transformed into the Financial Services Commission (FSC) by now.

　　But no matching records for SevenTrade24 found on Belize FSC.

　　A new registered website

　　What's interesting, SevenTrade24(https://seventrade24.com/) was first registered in October of 2021. This is the first red flag here. Besides, the result shows the domain will expire this October. This is on purpose as after 6 to 12 months the company will then just move to a new website and continue to change its image for scamming. It's a common defrauding tactic used by fraudsters.

　　A warning from CONSOB

　　What's more, the Italian financial authority CONSOB issued a warning that SevenTrade24 has not been authorized to carry out investment services and activities. That is to say, the company is an unregulated forex broker. If clients invest their funds in the firm, they are unlikely to get their money back if things go wrong.

　　Based on the above information, we can conclude that SevenTrade24 is a scam.