Reported as a scam / unregulated
Why Ok247Trade is on the register
Ok247Trade purports to be based in Germany. However, there’s no evidence to suggest that it’s registered with the country’s financial regulator, the Federal Financial Supervisory Authority (BaFin). In addition, it provides a phone number and an office address located in the UK, but it doesn’t appear to adhere to local regulations. It’s operating in the UK without the necessary authorization from the Financial Conduct Authority (FCA). The lack of regulatory oversight could potentially lead to fraudulent activities and identity theft. Investors who choose to trade with Ok247Trade are not protected by any legal framework. Given these circumstances, Ok247Trade could potentially be a scam, and traders are advised to exercise extreme caution and avoid it.
If you have money with this broker
- Stop sending funds. Do not pay any further “fees”, “taxes” or “verification” charges to release a withdrawal — this is a common secondary scam.
- Preserve evidence. Save transaction IDs, wallet addresses, chat logs, and every screenshot before the account is closed.
- Report it. Notify your bank/exchange and your national financial regulator so the activity is on record.
- Get guidance. Tell us what happened and we will point you to the right next step. A free public registry — we never charge any fees.
SentFunds is an information and referral service. Listing reflects reported concerns and public findings; it is not a legal determination.