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Protrade

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Operating status: SCAM

Website: https://protrade.fm

Broker violations and abnormal records
  • 2022-10-31 BrokersView has found that Protrade is not working

    Protrade claims to be a reliable firm while presenting neither details about its regulations nor legal documents (terms & conditions, risk disclosure, and privacy policy, etc.). Lacking such information may be a distinct characteristic of unlicensed brokers, as legit brokers always present their accreditation and licenses in a prominent position. It is a red flag here.

    Besides, Protrade shows its company address is in Switzerland. However, we did not find any match results to this broker in the Swiss Financial Market Supervisory Authority (FINMA). 

    On Mar 13, 2023, BrokersView found the domain "protrade.fm" is for sale, as most probably it was suspended and it is always a bad sign that broker's website is suspended.

    The truth is, Protrade is not under valid regulation by any regulators to do forex. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.

    Protrade claims to be a reliable firm while presenting neither details about its regulations nor legal documents (terms & conditions, risk disclosure, and privacy policy, etc.). Lacking such information may be a distinct characteristic of unlicensed brokers, as legit brokers always present their accreditation and licenses in a prominent position. It is a red flag here.Besides, Protrade shows its company address is in Switzerland. However, we did not find any match results to this broker in the Swiss Financial Market Supervisory Authority (FINMA). On Mar 13, 2023, BrokersView found the domain "protrade.fm" is for sale, as most probably it was suspended and it is always a bad sign that broker's website is suspended.The truth is, Protrade is not under valid regulation by any regulators to do forex. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.

Related Complaints

Q&A

How's the Protrade of Eurofxsecutities?

Serhat Kardal
Mexico
2023-03-13
ANSWER Protrade is an unregulated platform with its domain currently for sale.As we tried to access this broker's website through the link provided by your question, we found the domain "protrade.fm" is for sale now. It is a bad sign for a broker, meaning it may be not subject to any regulations or oversights.The truth is, Protrade is not overseen by any regulators. That means your personal data or your funds in this broker are unsafe and cannot be protected by any law. As for the question you asked, we would like to recommend traders stay away from unregulated brokers like Protrade and trade with licensed brokers.
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FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.

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