Below is a comprehensive analysis of Saxo 24 FX (official website: https://www.saxo-24fx.com/) based on the requested criteria, including online complaints, risk assessment, website security, WHOIS lookup, IP and hosting, social media, red flags, regulatory status, user precautions, brand confusion, and website content analysis. The analysis draws on available information, including web sources, and critically evaluates potential risks and legitimacy.

Saxo 24 FX Broker Analysis

## 1. Online Complaint Information

• Complaints and Reviews: Multiple sources, including ScamHelpers and Lucenteq, explicitly label Saxo 24 FX (also referred to as Saxo-fx24) as a potential scam broker. These platforms report that Saxo 24 FX has been associated with fraudulent activities, including defrauding traders and failing to process withdrawals. For example, ScamHelpers notes that traders have reported losing significant funds, with one review mentioning a loss of €78,000.
• User Feedback: Negative reviews highlight issues such as lack of transparency, pressure to deposit additional funds, and obstacles in withdrawing money. These complaints are consistent across platforms like WikiFX and BrokerChooser, which warn against trading with Saxo 24 FX due to its lack of regulatory oversight and suspicious practices.
• Fraud Reports: There are indications that Saxo 24 FX may be involved in phishing or deceptive practices, with users advised to file complaints with recovery services to attempt fund recovery.

  2. Risk Level Assessment

• High Risk: Saxo 24 FX is considered a high-risk broker due to its lack of regulation, anonymity, and reported fraudulent activities. BrokerChooser explicitly states that Saxo 24 FX is not a safe or trusted choice, citing its absence from top-tier regulatory oversight.
• Financial Risk: The broker’s operations involve high-risk financial instruments like forex and CFDs, which are inherently volatile. Combined with reports of non-processed withdrawals and potential fund misappropriation, the financial risk to users is significant.
• Trust Score: Unlike Saxo Bank, which has a Trust Score of 99/99 due to its extensive regulation and transparency, Saxo 24 FX has no verifiable trust score and is flagged as untrustworthy by multiple review platforms.

  3. Website Security Tools

• SSL/TLS Status: There is no specific information available from the provided sources about the SSL/TLS certificate status of https://www.saxo-24fx.com/. However, scam brokers often use basic or expired SSL certificates to appear legitimate, which should be verified using tools like Site24x7 or SSL Labs.
• Malware and Phishing Checks: No direct evidence confirms malware on the Saxo 24 FX website, but Site24x7’s security reports suggest checking for phishing or deceptive content, which aligns with warnings about Saxo 24 FX’s fraudulent activities. Users should employ tools like ScamAdviser or Site24x7 to assess the site for malicious content.
• Security Red Flags: The lack of transparency about the website’s security measures (e.g., no mention of 2FA or encryption standards) is a concern. Legitimate brokers like Saxo Bank emphasize mandatory 2FA and robust security protocols, which Saxo 24 FX does not appear to offer.

  4. WHOIS Lookup

• Domain Registration: The domain saxo-24fx.com is not explicitly analyzed in the provided sources, but a related domain, saxo24.com, is registered with IONOS SE, with registration dating back to September 29, 2008, and an expiration date of September 29, 2025. The WHOIS data for saxo24.com indicates hidden owner identity, a common tactic among scam websites.
• Saxo 24 FX Domain: Given the similarity in naming, saxo-24fx.com likely follows a similar pattern of obscured ownership. Hidden WHOIS data is a red flag, as legitimate brokers typically provide transparent registration details. Users can verify this using WHOIS lookup tools like those offered by ICANN or IONOS.

  5. IP and Hosting Analysis

• Hosting Information: The saxo24.com domain resolves to IP addresses 217.160.0.2 and 2001:8d8:100f:f000::209, with servers located in Germany, powered by an Apache webserver.
• Saxo 24 FX Hosting: No specific IP or hosting details are available for saxo-24fx.com, but the use of shared or low-cost hosting providers (common in scam operations) is likely. Legitimate brokers like Saxo Bank use dedicated, secure hosting with clear server information, which Saxo 24 FX does not provide.
• DNS Security: There is no mention of DNSSEC (Domain Name System Security Extensions) for saxo-24fx.com, which would ensure data authenticity. This omission increases the risk of DNS spoofing or phishing attacks.

  6. Social Media Presence

• Limited or Suspicious Activity: Saxo 24 FX does not appear to have an official social media presence, which is unusual for a legitimate broker. Scam brokers often create fake social media profiles to lure victims, but no such profiles are explicitly mentioned in the sources.
• Contrast with Saxo Bank: Saxo Bank explicitly warns against engaging with unofficial social media accounts and has ceased using platforms like Telegram due to impersonation scams. Saxo 24 FX’s lack of verified social media channels raises suspicions, as legitimate brokers maintain active, official accounts for customer engagement.
• Red Flags: The absence of social media links or the presence of unverified profiles (if any) aligns with ScamAdviser’s warning about scam websites inserting fake social media logos to appear legitimate.

  7. Red Flags and Potential Risk Indicators

• Lack of Regulation: Saxo 24 FX is not regulated by any recognized financial authority, a major red flag. The FCA (UK) has explicitly stated that SAXOFX-24 is not authorized or registered, indicating it operates illegally in the UK.
• Anonymity: The broker provides no verifiable contact details (e.g., phone number, physical address) beyond an email, which is insufficient for a legitimate financial institution.
• Pressure Tactics: Reviews report that Saxo 24 FX pressures clients to deposit more funds, a common scam tactic to extract additional money without allowing withdrawals.
• Poor Documentation: Legal documentation is described as brief and lacking crucial details, undermining transparency and trust.
• Withdrawal Issues: Multiple sources report delays or outright refusal to process withdrawals, a hallmark of scam brokers.
• Too-Good-To-Be-True Promises: Scam brokers often promise unrealistic returns, and Saxo 24 FX’s lack of clear risk warnings (unlike Saxo Bank’s prominent disclaimers) suggests deceptive marketing.

  8. Website Content Analysis

• Content Quality: The Saxo 24 FX website is not directly quoted in the sources, but reviews describe it as lacking transparency and essential information (e.g., regulatory status, company ownership). This contrasts with Saxo Bank’s detailed website, which includes risk warnings, privacy policies, and regulatory information.
• Risk Warnings: Legitimate brokers prominently display risk warnings about CFDs and forex trading, as seen on Saxo Bank’s site (e.g., “65% of retail investor accounts lose money”). Saxo 24 FX’s failure to highlight such risks is a significant concern.
• Impersonation: The website may use logos or branding similar to Saxo Bank’s to confuse users, a tactic noted in Saxo Bank’s fraud alerts about lookalike websites.
• Phishing Potential: Fraudulent websites often contain poor grammar, inconsistent logos, or suspicious links. Users should inspect saxo-24fx.com for these signs, as reported in Saxo Bank’s fraud awareness guidelines.

  9. Regulatory Status

• Unregulated: Saxo 24 FX is not regulated by any reputable financial authority. The FCA has issued a warning that SAXOFX-24 is unauthorized in the UK, and WikiFX confirms no valid regulatory information exists.
• Contrast with Saxo Bank: Saxo Bank is regulated by seven Tier-1 regulators, including ASIC, FCA, and MAS, ensuring robust oversight. Saxo 24 FX’s lack of regulation places users at high risk of fraud and financial loss.
• Low-Tier Regulation Risk: Even if Saxo 24 FX claims regulation by a low-profile regulator (common among scams), this offers minimal protection compared to top-tier authorities.

  10. User Precautions

• Verify Regulation: Always check a broker’s regulatory status on official registers (e.g., FCA, ASIC). Saxo 24 FX’s absence from these registers is a critical warning.
• Avoid Sharing Credentials: Never share login credentials or personal information with Saxo 24 FX, as it may be used for phishing or identity theft.
• Use Secure Devices: Avoid accessing the broker’s platform on public or untrusted devices to prevent malware attacks.
• Enable 2FA: If Saxo 24 FX offers 2FA, enable it, but verify its legitimacy. Legitimate brokers like Saxo Bank mandate 2FA for security.
• File Complaints: If scammed, report to authorities like Action Fraud (UK) or file a complaint with recovery services like ScamHelpers.
• Check URLs: Ensure the website URL is https://www.saxo-24fx.com/ and not a variation (e.g., saxo24-fx.com), as scammers use similar URLs to deceive users.
• Research Reviews: Before investing, search for independent reviews on platforms like BrokerChooser, WikiFX, or ScamAdviser to confirm legitimacy.

  11. Potential Brand Confusion

• Similarity to Saxo Bank: Saxo 24 FX’s name and branding closely resemble Saxo Bank, a legitimate Danish investment bank. Saxo Bank has issued warnings about fraudulent websites using similar names (e.g., “SAXO MARKETS”) to impersonate its services.
• Fraudulent Websites: Saxo Bank’s Hong Kong branch explicitly clarified that its official website is https://www.home.saxo/en-hk, distancing itself from fake sites like saxo-24fx.com. The use of “Saxo” in the name is likely intentional to exploit Saxo Bank’s reputation.
• Logo and Design: Saxo 24 FX may use logos or website designs mimicking Saxo Bank’s, as noted in fraud alerts about inconsistent logos and URLs on scam sites.
• User Confusion: Novice traders may mistake Saxo 24 FX for Saxo Bank, especially given the latter’s strong regulatory track record and global presence. This confusion increases the risk of falling for scams.

  12. Conclusion

Saxo 24 FX (https://www.saxo-24fx.com/) exhibits numerous red flags that strongly suggest it is a scam broker. Key concerns include:

• Lack of regulation by any reputable authority, with an explicit FCA warning.
• Reports of fraudulent activities, including non-processed withdrawals and fund misappropriation.
• Anonymity, with no verifiable contact details or ownership information.
• Potential brand impersonation of Saxo Bank, exploiting its reputation to deceive users.
• Absence of transparent website content, risk warnings, or security measures.

Recommendations ¶

• Avoid Saxo 24 FX: Do not invest or share personal information with this broker due to its high risk of fraud.
• Choose Regulated Brokers: Opt for brokers regulated by top-tier authorities (e.g., FCA, ASIC), such as Saxo Bank, which has a proven track record.
• Report Suspected Fraud: If you’ve interacted with Saxo 24 FX, file a complaint with regulatory bodies or recovery services immediately.
• Conduct Due Diligence: Use tools like ScamAdviser, WHOIS lookup, and Site24x7 to verify any broker’s legitimacy before investing. Users should exercise extreme caution and prioritize regulated, transparent brokers to protect their investments and personal data.