Do you want to trade on Pro Trading FX Reviews? Here is what you must know about this broker myprotradingfx.com. See reviews to find all about it.
This post promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
What is Pro Trading FX?
Pro Trading FX otherwise known as myprotradingfx.com is an offshore brokerage controlled by Pro Trading FX LLC with a lot of promises for forex traders. The forex company claims to offer crypto investment services to their clients.
Furthermore, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents a zero spread difference in Buy/Sell.
Is Myprotradingfx.com Regulation a Scam?
First of, Myprotradingfx.com claims a registered address in Saint Vincent and the Grenadines.
Regrettably, Saint Vincent and the Grenadines SVG is an offshore zone with no broker regulations in place. As soon as you open the website of the local Financial Services Authority you see a warning that the institution does not license forex and other types of brokers and does not supervise the activities of International Business Companies engaged in such activities.
Again, the broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are drawbacks for forex traders/ clients to avoid losing money with scam brokers lurking online. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Won’t you rather trade with a licensed and legit broker? Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK, ASIC in Australia, NBRB in Belarus, CySEC in Cyprus as well as IIROC in Canada which makes client funds safe. They accept traders worldwide…visit their official website
Does Pro Trading FX Have Account Types?
Pro Trading FX offers different account types like Trading Demo, Actual Trading, Trading AG and Funding Program. According to the account descriptions, the maximum leverage reaches 1:300.
Pro Trading FX deposit is indicated $50, which is quite affordable. But, if only the broker is licensed and regulated platform.
In contrast, you should better stay with a legitimate broker that clearly spells out its regulation and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.
As for the funding methods, Pro Trading FX accepts deposit throught cryptocurrencies and credit cards through the obscure payment processor Paguelofacil. Note, the broker charges significant fees between 5% and 7% on any deposit method.
Just so you know, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
Pro Trading FX Provides What Trading Software?
Pro Trading FX keeps clients in the dark with its trading software – no software. But, we are not surprised with such an outcome from an unlicensed broker.
Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
Frankly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Pro Trading FX Licensing and Regulation
Like in any corporation, integrity is a key to uphold these days. It doesn’t matter if you make a lot of money but you can’t take it out. That is to say, exactly what is happening with non-licensed companies.
Having said that, it is not far from believing that myprotradingfx.com is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
Concluding Thoughts:
Pro Trading FX located at myprotradingfx.com appears like a genuine trading broker, however, you should not take the words they say and the attractive website layout. By all appearances, we would advise traders to steer clear from unlicensed brokers as they likely a platform run by scammers. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.
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