Proforbex broker gives a lousy impression from the moment you open their website. The company seems to be focused on Forex trading, but instead of appealing design, you can see the word Forex in a large font on a dark background. Shady until the end.
Read our honest Proforbex review and collect all the information in regards to this online trading scam.
In also, we recommend you not to invest in fraudulent brokers ETHProfits, K7 Trade and IB Finanzas.
|Broker status:||Unregulated Broker|
|Regulated by:||Unlicensed Scam Brokerage|
|Blacklisted as a Scam by:||N/A|
|Cryptocurrencies:||Available – BTC, ETH, XRP|
|Types of Assets:||Forex, commodities, indices, shares, cryptocurrencies|
|Free Demo Account:||No|
|Accepts US clients:||Yes|
Proforbex Is Licensed by the FCA?
Despite what their employees may try to convince you, Proforbex is an unregulated scheme. The website lacks Terms and Conditions as well as basic information about the owner. You cannot find where the company is seated, who’s behind the web page, and the legal jurisdiction.
Without this information, we cannot talk about funds security. You may hear the lovely story of the FCA license, compensation fund of up to 85,000 GBP, and more. In reality, this broker can vanish anytime, and you will have nowhere to file a complaint.
Reasons Not to Trust an Unlicensed Broker
Unlicensed brokers don’t follow any guidelines and can disappear at any time. Unlike the real FCA-licensed companies, Proforbex doesn’t need a compensation fund, doesn’t limit its leverage to 1:30, and doesn’t provide negative balance protection. Basically, you can fall into debt to the company if the market goes in the opposite direction.
In That Case, is Proforbex a Good Broker or a Scam?
Proforbex is an unregulated online trading brokerage. The website is anonymous and the trading platform is not secure. According to consumer index, you should avoid this firm.
What Do Traders Think Of Proforbex?
If you search for Proforbex reviews, you will see several websites giving it a one-star rating. This is mainly due to withdrawal issues. Customers complain that once they submit a withdrawal request, this fraudulent broker simply declines it and blocks their access to the trading account. It happens with most scam websites. That’s why before investing any money, you should do due diligence and find a reputable, legitimate firm.
Does Proforbex Offer Safe Trading Software?
Proforbex advertises two trading platforms – proprietary WebTrader Proforbex Plus and MT4. However, once we registered an account and wanted to access any software, we were informed that the platform was a potential security risk. The broker’s certificate is not valid for the domain trade.mytrade.io, the one you’re redirected to when trying to log in to the trading software.
To answer your question, no, Proforbex doesn’t offer secure trading platform. Instead, find a legit brokerage offering MT4 or MT5.
Proforbex Fraud With High Fees
While this trading brokerage claims to offer various account types suitable for every investor, there is nothing on the website. In addition, there is no Demo account and the platform is not secure.
As final proof of the scam, we have Proforbex fraudulent fees. Before approving withdrawal requests, broker employees ask customers to pay upfront for bank transfers and taxes. However, even if you go with their game and transfer the funds, you will never see a penny back.
It is a typical scam tactic to extort one last deposit before vanishing. Don’t fall for it, and don’t pay any more than you already paid.
Customer Support – Communication Channels and Service
The first and foremost tool phony brokers use is their support team. The service you’ll be provided is impeccable while you invest the money. They will contact you through phone, email, WhatsApp, Telegram, and all other means of communication.
However, your calls and messages will remain unanswered when you submit a withdrawal request. The company may go as far as to block your number and dissuade you from any further contact.
Proforbex Range of Trading Markets
Allegedly, Proforbex broker offers investing in:
- Currency pairs – AUD/CAD, USD/ILS, GBP/CHF
- Commodities – gold, silver, oil
- Indices – AUS200, S&P500, DAX30
- Shares – Amazon, Apple, Google
- Cryptocurrencies – IOTA, ADA, SOL
We cannot confirm or deny this information without access to the platform.
And remember the names of Gamma Capitals, Martyn Services and Fibonacci Trade trading scams and avoid them at all costs! Please, always check the bios of online trading companies before investing!
What Trading Terms Does Proforbex Offer?
The website promises favorable trading terms and low costs. However, since the platform is not secure and the entire brokerage is shady, we wouldn’t believe it. Without the Terms and Conditions, we cannot prove any of the claims. Yet, here’s what you’re promised.
About Leverage and Spread
The leverage goes up to 1:400. Knowing that EU and UK regulators have a limit of 1:30, this trading provider cannot be licensed. Furthermore, the spread is allegedly 0.0 pips. While this looks attractive, always remember that without spreads and swaps, a broker’s only profit is your deposit.
Proforbex Deposit, Withdrawal Methods, and Fees
The minimum deposit amount is stated to be $50. While this per se is not a large number, you should be quite cautious. Investing with a scheme firm cannot result in profitable trading. As per withdrawal fees, we can’t say anything due to the lack of the Withdrawal Policy.
Methods of Payment
Since everything is missing, we have no details about payment methods either. Yet, we have to warn you. If the broker asks for any money transfers through a crypto wallet, you’re going right into the scheme. Cryptocurrencies are virtually untraceable and not subject to a chargeback procedure. That’s precisely why scammers love them.
Scammed by Proforbex Broker? – Let Us Hear Your Story
If you or someone close to you ends up scammed by a Proforbex broker, let us know. Our chargeback specialists may assist with the refund. Book a free consultation today, and let’s start.
But What Is A Chargeback?
This is a way for your bank to recover funds directly from the merchant. Since the procedure is time-limited, it’s important to act fast. Contact us immediately, and let’s begin.