EFT24 has been flagged by Commissione Nazionale per le Società e la Borsa for "Unregistered/Unlicensed entity offering financial products or services|Genera...". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
Tried to withdraw my funds from EFT24 and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.
Cons: No regulatory oversight|Money disappeared|Fake testimonials
I have been trying to close my account with EFT24 for weeks now and they keep giving me the runaround. First it was a form to fill out, then identity verification again, then a mandatory phone call that never gets scheduled. They make leaving impossible.
Pros: Automated trading options|Fast support response|Demo account available|Real-time alerts
Cons: No phone support on weekends
Their two-factor authentication was optional when I joined. I enabled it. Later I lost my phone and could not log in. EFT24 recovery process took 3 weeks and required notarized documents. By then I had missed important trades. Their security is your inconvenience.
Pros: Quick verification|Educational resources
Cons: Research section could be deeper
Do not be fooled by the professional-looking website. Behind the scenes, EFT24 is disorganized and incompetent. I found them after a friend recommended them and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.
Pros: Intuitive for beginners|Personal attention|Great customer service
Cons: Onboarding videos are outdated
EFT24 changed their fee structure with one month notice. What was a flat fee became a percentage. For my account size it meant a huge increase. When I objected they said I could leave. So I am leaving and writing this review.
Pros: Excellent charting|Clean UI
Cons: No live chat on mobile|Website design could be more modern
I wanted to transfer my portfolio from another broker to EFT24. They said they do not accept in-kind transfers for my asset type. I had to sell, withdraw, deposit, and rebuy - incurring taxes and spread costs. They did not tell me this before I signed up.
Pros: Clean UI|Real-time alerts|Portfolio tracking tools|Two-factor authentication
Cons: No crypto staking|Withdrawal takes 1-2 business days
I closed a profitable position at EFT24 and the profit was not credited for 5 days. Support said it was a settlement delay. When it finally arrived it was less than the amount shown on the platform. They could not explain the difference. I have moved my account.
Pros: Easy to use platform|Professional team|Copy trading available|Multi-currency support
Cons: No live chat on mobile|Limited cryptocurrency options
After seeing ads for EFT24 online, I investigated. The company is listed in the IOSCO I-SCAN warnings database and has been flagged by Commissione Nazionale per le Società e la Borsa. Their website looks professional but that means nothing - many scam operations invest heavily in appearance. Always check the regulatory warnings before investing.
Cons: Listed in warning databases|No transparency|Pressure to invest quickly
For anyone considering EFT24, please be aware that this company has been flagged by Commissione Nazionale per le Società e la Borsa. This does not necessarily mean they are a scam, but it does mean they may not be authorized to operate in certain jurisdictions. I strongly recommend checking the official regulator website before making any investment decisions.
Cons: Flagged by international regulators|Due diligence required