Is LiveTradeFx24 a Scam?

When we at FXCanary set out to judge whether a broker is safe, we do not rely on marketing pages or the absence of complaints. We start with the public regulatory record, cross-check the legal entity against the official registers, and then weigh the structural protections that actually stand between a trader and the loss of their funds. For a broker as young and as thinly documented as LiveTradeFx24, that process matters more than ever.

Our Scam Risk Score for LiveTradeFx24 sits at 47 out of 100, which we classify as 'Guarded'. That score is built from two prominent risk flags: the firm was established only about 22 months ago, and we could find no verifiable website or social-media presence beyond the domain itself. Neither of those facts is proof of fraud, but together they mean that this broker has no track record, no public reputation, and no independent user reviews to corroborate its claims. In FXCanary's assessment, that is a thin foundation on which to place client funds.

Our records list LiveTradeFx24 Limited as a United States-registered entity, with two regulators on file: the Australian Securities and Investments Commission (ASIC) and the UK Financial Conduct Authority (FCA). The ASIC licence is recorded as number 443670, and the FCA licence as number 705428, both under a Market Making (MM) model. We cross-checked these numbers against the public registers as far as our records allow, and we note that the status field for both licences is blank in our file — meaning we cannot confirm that either licence is currently active or in good standing.

That ambiguity is significant. A licence number on a website is not the same as a live authorisation. Regulators revoke or suspend licences, and a blank status in our records means we cannot verify that LiveTradeFx24 is presently authorised by either ASIC or the FCA. We would caution any trader to check the current status directly on the ASIC and FCA registers before depositing a single dollar. The fact that the company is registered in the United States, yet claims Australian and UK regulation, is itself a point that demands scrutiny — cross-border licensing is common, but it must be verifiable.

If LiveTradeFx24 is genuinely authorised by ASIC, Australian clients would fall under the client money rules in the Corporations Act, which require segregated accounts for retail client funds. However, Australia has no government-backed compensation scheme for retail forex traders, so even a fully compliant ASIC broker leaves clients exposed if the firm collapses. ASIC also imposes leverage caps of 1:30 for major currency pairs on retail clients, which stands in stark contrast to the 1:500 leverage LiveTradeFx24 advertises across all its account tiers.

Under the FCA, the protections are stronger in theory. UK-authorised firms must segregate client money, and eligible clients are covered by the Financial Services Compensation Scheme (FSCS) up to £85,000 per person. The FCA also mandates negative balance protection for retail clients, meaning you cannot lose more than your deposited balance.

But these protections only apply if the FCA licence is live and if the firm is actually operating within the FCA's perimeter. With a blank status on our records, we cannot confirm that any UK client would benefit from the FSCS. The advertised 1:500 leverage also exceeds FCA retail limits, which would be a red flag if the firm were truly serving UK retail clients under that licence.

LiveTradeFx24 is registered in the United States, at 1726 77th Ave E, Puyallup, WA 98371. That is a residential-style address in a small city, not a financial hub. The company lists zero employees in our records, which is unusual for a firm claiming to operate under two major regulators. A broker with no staff, no verifiable office, and no public presence is difficult to hold accountable if something goes wrong.

We also note that the deposit methods include Mastercard, Skrill, VISA and WebMoney, while withdrawals are offered via BTC, Neteller, VISA and Skrill. The asymmetry — taking cards for deposits but offering crypto for withdrawals — is a pattern we have seen in higher-risk operations. It is not inherently fraudulent, but it complicates chargeback rights and makes tracing funds harder. Combined with the lack of verifiable regulation status, this jurisdictional and operational gap is a core reason our risk score sits in 'Guarded' territory rather than higher.

Our records show that zero clone or impersonator sites have been found for LiveTradeFx24. That is a small positive, but it is also a function of the broker's obscurity. Scammers rarely bother cloning a brand that has no recognition. The more pressing risk is the opposite: that LiveTradeFx24 itself could be confused with similarly named entities, or that its name could be used in future by fraudsters once it gains any traction.

In our web searches, we found no results that clearly matched LiveTradeFx24. The results returned entities such as Live24Trade, LiveTrader, and 24FX — all different companies with different domains and regulators. We treat those as unrelated and did not use them in our assessment. For a trader, the practical lesson is to always type the official domain — livetradefx24.com — directly into the browser, and to verify any contact details against the regulatory register. Do not click links from emails or social media claiming to be this broker.

LiveTradeFx24 offers four account tiers: Classic, Standard, Premium, and VIP. The minimum deposits range from $1,000 on the Classic account up to $10,000 on the VIP, and all tiers advertise a maximum leverage of 1:500. Minimum spreads are quoted from 0.6 pips on VIP to 1.9 pips on Classic. These are aggressive numbers, particularly the leverage, which is far above what ASIC or FCA would permit for retail clients under their current rules.

The high minimum deposits — $1,000 at the entry level — are also notable. Many regulated brokers allow clients to start with $100 or less. A $1,000 minimum is not inherently a red flag, but it raises the barrier to entry and means that a trader who is testing the broker is committing a meaningful sum from the start. Combined with the lack of verifiable regulation status, we would advise any trader to treat these tiers with caution and to consider whether the promised conditions are realistic for a firm with no staff and no public footprint.

We must be plain: there are no independent user reviews of LiveTradeFx24 that we could find. That is not because the broker is necessarily bad — it is because the broker is young and obscure. But in the world of forex, obscurity is a risk in itself. A broker with no reviews, no social media presence, and no verifiable website beyond the domain gives a trader no way to learn from others' experiences before committing funds.

We also found no evidence of the broker's own marketing claims beyond the basic account details in our records. We do not know what instruments it offers, what platforms it supports, or what its withdrawal process looks like in practice. That information vacuum is part of the safety picture. In FXCanary's assessment, a trader considering LiveTradeFx24 should proceed as if the broker is unverified until it can demonstrate a live regulatory status and a track record.

If you are still considering LiveTradeFx24, we recommend a series of concrete checks before depositing. First, verify the ASIC licence 443670 and the FCA licence 705428 directly on the official registers — do not rely on the broker's website. If either register shows the licence as cancelled, suspended, or not found, treat that as a decisive warning. Second, start with the smallest possible deposit, and only an amount you can afford to lose entirely. Third, test the withdrawal process with a small amount before committing more — a broker that delays or blocks withdrawals is a broker to avoid.

Fourth, be wary of any request to pay via cryptocurrency for deposits, and note that the withdrawal methods include BTC, which can make chargebacks impossible. Fifth, keep records of all communications and transactions. Finally, consider whether the promised leverage of 1:500 and low spreads are worth the risk of an unverified entity.

In our view, the absence of verifiable regulation and the lack of any independent reviews are enough to warrant extreme caution. We cannot call LiveTradeFx24 a scam based on the evidence, but we also cannot call it safe. That is the honest bottom line.