If you come across Pro FX Trading broker, you may wonder if it is worth your money. The short answer is no. The longer answer will be provided through this in-depth Pro FX Trading review.
Let’s start this overview together and see what you can do if an online scammer steals your money.
Pro FX Trading is a brand of ProFX-Trade Limited, registered in Saint Vincent and the Grenadines. However, if a company wants to operate from this country, it must register the business with the FSA.
And yet, the number on the website, 26939 BC 2023, belongs to another company, MetaPro Markets Limited. It’s unclear whether the two are related or if Pro FX Trading is abusing someone’s registration. Even if it’s their own branch, it means nothing to you. FSA doesn’t license Forex brokers but only registers the business.
Pro FX Trading regulation would have to be in the country of service, with Tier 1 authorities such as AMF, CFTC, FCA, etc. And yet, our search yielded no results.
Finally, the company offers leverage of up to 1:500, directly violating ESMA and US regulations. According to the European watchdog, the leverage for retail traders is limited to 1:30; in the US, this limit is 1:50.
The brokerage registered its domain in May 2022. Since then, they mainly target clients from the following countries:
Note that regulators clearly warn us. You cannot complain to the Financial Ombudsman if you deal with a financial swindler. What’s worse, you cannot get compensated from the designated fund.
Surprisingly, we only have good things to say about the Pro FX Trading trading platform. The company offers MT4, one of the best software today. Yet, this proves that you shouldn’t rely only on software information. If you want to keep your money safe, ensure you check the regulations first.
MT4 is a product of MetaQuotes Ltd and is considered one of the most advanced platforms. It contains a vast number of features, including EAs and social trading. Additionally, clients can customize it according to their own trading preferences. Along with MT5, it’s the best this industry has to offer.
Yet, the firm advertises MT5 on the main page while providing only the older version. We find this malicious as some clients may be deceived by explicitly looking for an MT5 broker.
Another benefit of MT4 is its mobile app. The company has both Android and iOS traders. It’s easy to use, quite convenient, and you don’t lose any of the desktop functionalities.
The company offers a standard range of trading instruments, including:
Yes, this range is more than solid. But trading with an unregulated broker can only lead to problems down the road. No matter how much profit you make, you won’t be able to withdraw it.
According to the site, the spread ranges from 0.0 to 2.5 pips, depending on the account type. Additionally, all accounts are swap-free, which makes absolutely no sense. Swap is the legitimate way for brokers to earn a commission, so waiving it off only means the company is after your entire deposit.
Speaking of Pro FX Trading account types, there are six of them:
As mentioned, the spread fluctuates depending on the minimum deposit you’re willing to pay. The leverage is fixed for all types, standing at 1:500. Finally, there are no other differences to justify paying higher sums to this bogus firm.
Since the company offers an MT4 terminal, customers can also find a Pro FX Trading Demo account. Once you register, you can choose to trade with virtual funds and test your trading strategies.
However, you can do the same thing directly on the MetaQuotes website and do not provide your personal data to an offshore scammer. It’s a better and safer option since your information could be sold or otherwise misused.
Let’s check out Pro FX Trading withdrawal options:
As you can tell, the minimum amount is the same, while fees are non-existent. Depending on the method, it can take from 1-5 business days for the funds to appear in your account.
Reading Pro FX Trading reviews, we are not convinced that payouts are possible. In fact, we’re pretty certain that you’ll need legal aid before you see a penny back.
Losing money to an online scammer is not so bad. But not doing anything about it is. Hence, start acting now. You can file a dispute for chargeback within up to 540 days and request your hard-earned money back.
Book a free consultation with our chargeback experts, and we’ll see how we can assist. Let us hear your story and evaluate your case. It’s never too late to fight fraud!
Pro FX Trading is not a legitimate financial services provider. If you have already invested funds and cannot withdraw them, we might be able to assist you.
Pro FX Trading provides customers with MT4, one of the best software today.
Knowing that the firm has been banned in four different countries, we can safely say that your money is not secure.
Pro FX Trading is not a legitimate financial services provider. If you have already invested funds and cannot withdraw them, we might be able to assist you.
Pro FX Trading provides customers with MT4, one of the best software today.
Knowing that the firm has been banned in four different countries, we can safely say that your money is not secure.
The post Pro FX Trading Review – All Reasons to Avoid Pro FX Trading Broker appeared first on Global Fraud Protection.
