Pro TradeFX Review (2023)
Is Pro TradeFX a scam or legit broker?
No, it is not safe to trade with Pro TradeFX. Pro TradeFX is owned by Game Capital Ads Limited, which is an offshore company registered in St. Vincent and the Grenadine.
St. Vincent and the Grenadines is notorious for its practically absent requirements and regulations. Due to the setup cost is low and it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as Binomo, Monfex and more. You can read our detailed article about the risk of trading with brokers from St. Vincent and the Grenadines.
About ProTradeFX
| 🗺️ Registered in | St. Vincent and the Grenadines |
| 🗺️ Type of License | Offshore License |
| 🛡️ Is ProTradeFX safe to trade | No |
| 🗺️ Recommended Licenses | FCA in UK 🇬🇧 & ASIC in Australia 🇦🇺 |
| 🖥 Alternative Broker | FP Markets - licensed by ASIC in Australia |
Pro TradeFX claims to provide premium-quality commodities and Forex trading services, which have fulfilled the commodities trading needs of clients since the creation of the company in 2013.
As to the Game Capital Ads Limited company, its image does not seem to be that perfect and reliable. This entity is known for managing unregulated brokers that have been involved in scam and been blacklisted by different regulators. We have reviewed some of them (such as 247SmartFx and 247 World BTC Fx).
In addition, Pro TradeFX itself has entered the warning lists of several authorities:
” We believe this firm has been providing financial services or products in the UK without our authorisation. This firm is not authorised by us but has been targeting people in the UK.”
FCA, February 2016
” National Commission for Companies and the Stock Exchange has also ordered the following company (www.protradefx.com) to cease infringement.”
CONSOB, June 2018
Conclusion
We advise all investors and traders to avoid Pro TradeFX and other brokers from St. Vincent and the Grenadines. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia (Check out forex brokers Australia) and reliable brokers such as BlackBull Markets and FBS Forex.
You can also share your trading experience with Pro TradeFX by commenting on this review.
Reviews
This company is a complete scam, as are their so called traders Laura Morena and Thomas Benett. They will ask for a small investment with promises of good returns. After a short period they will ask you to increase your investment. If you refuse they will quickly lose almost all your investment and then claim expenses against any balance. They will not return calls when asking for withdrawals. Be careful Laura Morena, if that is her real name, is very shrewd and persuasive.
Hi David, were you able to report them to any authority and get your money back? I had the same experience where the trader I was dealing with is not returning my calls and I have been locked out of my account! I hope you could share your experience and help.