As you can notice if you open the Trading Pro website, the company has only offshore license but several offices, some of which are within Tier 1 reach. It’s enough for anyone to suspect their business.
Please read our detailed Trading Pro review to learn everything. We’ll examine the regulation status along with other issues we’ve found.
However, we found two more addresses on the website – in Vanuatu and Malaysia. Hence, we checked the registers of VFSC and the Central Bank of Malaysia. The company has been registered with VFSC since February 2020, while the Malaysian register remained empty.
Since the company holds two licenses, but both offshore, we wanted to check traders’ opinions. At the time of writing, we found 23 comments on Trustpilot, 100% of them being 5-star. This has raised immediate suspicion. Even brokers under FCA or ASIC umbrella don’t have such a perfect score. Usually, when we see something like this, it indicates fake reviews.
Other forums showed us quite a different picture. People reported withdrawal issues and problems with the Trading Pro support department.
The Trading Pro website was registered back in 1999. However, our brokerage in question started operating in 2017 as we know it today. Ever since, the company, like MTcapitals and many similar, has been advertising its trading offerings on social media sites such as Facebook and Instagram, and through Google Ads.
Typically, you will leave your personal information once you register through the ad. Then, broker employees can contact you through phone, email, WhatsApp, or any other means and present their offer.
It should be noted that this company has two licenses – in South Africa and Vanuatu. Therefore, it lacks Tier 1 authorities such as FCA, ASIC, or CFTC approval. Before you engage in trading with any brokerage firm, ensure they’re licensed in your legal jurisdiction. If not, you won’t be able to request the assistance of a local regulator in case of any issues.
According to our research, the brokerage is mainly active in the following countries:
As we mentioned at the start, while they claim to have offices in Malaysia, the Central Bank does not regulate the firm. Furthermore, they don’t hold a license from the US CFTC and have no headquarters in the country. All of this is an indicator of potential trouble with your Trading Pro account.
Trading Pro login is enabled through two trading platforms – MT4 and MT5. Both of these MetaTrader distributions are exceptional. You can access an extensive range of trading tools, including social trading and EAs.
Each platform has millions of downloads and provides access to mobile apps for Android and iOS. Therefore, you can trade on the go, which is quite convenient.
The company puts a particular accent on social trading, with account types designated for this type of investing. Copy trading or social trading implies copying trades of other, more experienced investors. Instead of analyzing the market themselves, retail traders can rely on the strategies of others.
The company offers trading in four asset classes:
Crypto trading is unavailable, which is quite a drawback in today’s trading pace.
Since offshore, the company has no leverage limit. While Tier 1 authorities usually set the limitation to 1:30 or 1:50, Trading Pro broker offers up to 1:2000. While it can increase your buying power, it can also increase your chances of losing your entire capital 2,000 times quicker.
Spreads are pretty tight, with the possibility of getting a raw spread of 0.0 pips. The company is also charging trading commissions and swaps for overnight trades.
You can choose from five different account types:
Each account is uniquely designed for specific types of traders. The Micro account has a spread starting at 1.6 pips and a leverage of 1:2000. On the other hand, the Rookie one has no spread but includes higher commissions.
The same difference stands between Pro and ScalpX accounts, with the latest one supporting scalping. Finally, the Expert account is only available through MT5 and is suitable for experienced traders.
The company accepts several different payment methods:
As you can tell, the minimum withdrawal amount differs based on the method and the currency. Processing time for all options is within one working day. However, some reviews indicate that customers have experienced delays, or are being asked to pay additional fees before withdrawals, etc.
You should be aware that the profit covers all the costs and withdrawal fees. There’s no need for additional payments from your bank card or crypto wallet.
If you experience any troubles with Trading Pro broker, you should notify your bank and the regulator in charge. Since the authorities overseeing this brokerage are offshore, it’s uncertain whether you will get the help you need.
Therefore, we advise contacting Global Fraud Protection to book a free, non-obligatory consultation. Our chargeback experts and CipherTrace crypto analysts will evaluate your case in detail and find the best way to assist.
Trading Pro is an offshore trading broker operating under the licenses of South Africa and Vanuatu. In case of any withdrawal issues, we may be able to assist you with this matter.
Trading Pro requires a minimum deposit of $1 for the Micro account.
You can trade CFDs on indices, shares, and commodities, but crypto trading is not available.
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