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Do I have to use the demo account? Can I just start with a real account?
Sabrina
Grenada
2023-06-19
ANSWER Trading Pro is an unregulated broker that we advise against trading with despite the seemingly attractive deals it offers.Trading Pro claims to be the trading name of TradingPro International LTD and TradingPro International (PTY) LTD. The former supposedly registered with the Financial Services Authority (SVG FSA) under registration number 24611 IBC 2018, and the latter supposedly registered with the Financial Sector Conduct Authority (FSCA) under FSP no. 49624.While it is true that we found matching records in the SVG FSA register, investors should be aware that the offshore financial watchdog has explicitly stated that it neither issues licenses for forex trading or brokerage, nor does it regulate entities involved in such activities. As such, Trading Pro remains unsupervised by the relevant regulatory body.Our search for the broker in the FSCA registry also discovered corresponding data, but the registered address that Trading Pro displays on its homepage is different from the one listed on the FSCA site. The South African financial regulator doesn't provide authentication details or domains of the registered entities for investors to verify, leaving a door open for some shady brokers to exploit details of real companies to appear legitimate in an attempt to deceive investors. As a result, there is no guarantee that the registered entity is the one that operates and runs Trading Pro. What's more, the discrepancy in addresses further deepens the concerns about this broker's legitimacy and authenticity.Regarding your question, we strongly recommend exercising extreme caution and avoiding dealing with Trading Pro. It is a trading platform operating outside the regulatory framework and carries huge risks, such as financial losses and identity theft, as there are no rules in place to safeguard investors. Therefore, investors are encouraged to stay away from unregulated brokers like Trading Pro and instead choose fully regulated ones.
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