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ProTrade24

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Operating status: SCAM

Website: https://protrade24.net/

Broker violations and abnormal records
  • 2024-03-17 The BaFin issues a warning about ProTrade24

    On March 18, 2024, the Federal Financial Supervisory Authority (BaFin) warns consumers about the services offered on the online trading platform ProTrade24, a platform conducting banking business and/or providing financial services without the required authorization. https://www.bafin.de/SharedDocs/Veroeffentlichungen/EN/Verbrauchermitteilung/unerlaubte/2024/meldung_2024_03_12_ProTrade_24_en.html

    On March 18, 2024, the Federal Financial Supervisory Authority (BaFin) warns consumers about the services offered on the online trading platform ProTrade24, a platform conducting banking business and/or providing financial services without the required authorization. https://www.bafin.de/SharedDocs/Veroeffentlichungen/EN/Verbrauchermitteilung/unerlaubte/2024/meldung_2024_03_12_ProTrade_24_en.html
  • 2024-03-27 BrokersView has reviewed that ProTrade24 is an unregulated broker

    ProTrade24 doesn't disclose any details regarding its regulatory status. The lack of necessary licenses is a scam indicator.

    While it claims to be located in the UK, the platform fails to obtain the authorization from the Financial Conduct Authority (FCA). Therefore, the company is providing financial services out of the UK illegally.

    In addition, the Federal Financial Supervisory Authority (BaFin) warns consumers about the services offered on the online trading platform ProTrade24, a platform conducting banking business and/or providing financial services without the required authorization.

    In essence, ProTrade24 is not regulated by any governing body. Entrusting it with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds.

    ProTrade24 appears to be a scam.

    ProTrade24 doesn't disclose any details regarding its regulatory status. The lack of necessary licenses is a scam indicator.While it claims to be located in the UK, the platform fails to obtain the authorization from the Financial Conduct Authority (FCA). Therefore, the company is providing financial services out of the UK illegally.In addition, the Federal Financial Supervisory Authority (BaFin) warns consumers about the services offered on the online trading platform ProTrade24, a platform conducting banking business and/or providing financial services without the required authorization.In essence, ProTrade24 is not regulated by any governing body. Entrusting it with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds.ProTrade24 appears to be a scam.
  • 2024-06-09 The CNMV issues a warning against PROTRADE24

    On June 10, 2024, the Comisión Nacional del Mercado de Valores (CNMV) added PROTRADE24 to its warning list for providing investment services without authorization. https://www.cnmv.es/portal/ResultadoBusqueda.aspx?tipo=1&nombre=PROTRADE24

    On June 10, 2024, the Comisión Nacional del Mercado de Valores (CNMV) added PROTRADE24 to its warning list for providing investment services without authorization. https://www.cnmv.es/portal/ResultadoBusqueda.aspx?tipo=1&nombre=PROTRADE24

Related Complaints

Q&A

PROTRADE24 a scam?! Really?!

DioTrady
Switzerland
2024-06-21
ANSWER Yes, ProTrade24 appears to be a scam.The broker fails to provide licensing details to substantiate its legitimacy, a scam indicator. Despite the claimed location in the UK, it hasn't obtained the required authorization from the Financial Conduct Authority (FCA).Additionally, both the Federal Financial Supervisory Authority (BaFin) and the Comisión Nacional del Mercado de Valores (CNMV) have issued warnings about ProTrade24 for its illegal activities. These warnings should prompt heightened vigilance among investors.In light of this, investors are strongly advised to steer clear of ProTrade24 to protect themselves from potential fraud schemes. To have a safer trading environment, it is recommended to opt for fully regulated brokers.
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How tight are ProTrade24's spreads?

Lothar
Algeria
2024-04-19
ANSWER We strongly suggest you avoid ProTrade24, an unlicensed broker.The lack of regulatory information is a scam indicator. While it claims to be located in the UK, there are no indications that it is registered with the Financial Conduct Authority (FCA). What's more, the Federal Financial Supervisory Authority (BaFin) has issued a warning about ProTrade24, cautioning consumers about the services offered on the online trading platform ProTrade24. This appears to be a platform conducting banking business and/or providing financial services without the required authorization.In light of this, ProTrade24 is not secure. Investors trading with it are exposed to the risks of fraud and identity theft. To have a safer trading environment, investors are recommended to stay away from ProTrade24 and instead opt for fully regulated brokers.
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1 comments

Sandra Gueifão R.
I think I was scammed for PROTRADE24.io. Can you confirmed that this broker is a scam?Thank you.
2024-09-12
1
Reply
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