TraderProfx Review (traderprofx.com) FRAUD EXPOSED – TraderPro Scam Broker

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TraderPro (traderprofx.com)

Conclusion

Once you take apart all the promises that TraderPro has made in its presentation, you can come to the realization that it is just trying to con you and you need to avoid such companies.

Broker Rating

0.1

GET YOUR MONEY BACK FROM THIS BROKER!

TraderProfx (traderprofx.com) is without a doubt a %100 fraudulent brokerage firm. It is NOT a real broker! Stay away! TraderPro scam works by getting you to believe you can become rich by trading with them.

TraderProfx.com Review

Are you looking at the different online brokers offering their services? It does not take people long to become frustrated once they start shopping for a brokerage to trade online. Why? This is because there are thousands of companies that are offering their services and if you were to believe them, all of them are the best option for you. Of course, this is not the case and having to sort through so many of them can be immensely difficult, not to mention time consuming. This is where you can benefit from this TraderProfx review because it sheds light on this particular brokerage.

Many people might think about choosing the first brokerage they come across, or one at random as so many of them seem similar. But, you need to remember that not all companies are on the up and up here. You will find lots of stories about scam brokerages and millions of people have lost their money to these fraudulent platforms. This can happen to you as well if you are not diligent. The reason that these scammers are so successful is because they offer an irresistible package to people. They make deceptive statements and false promises to lure people in.

If you do not do your due diligence, there is a strong chance that you would also believe everything they say and learn your lesson the hard way. When it comes to online brokerages, it always pays off to do your due diligence and never take anything they tell you at its word. How can you do that? The easiest way to go about it is to go over all the promises that a brokerage makes and ensure they are true. You should do the same with TraderProfx because it has made plenty of promises in its presentation about offering quality services to its clients.

You will be drawn to TraderPro because it has a professional website and claims to be a globally regulated brokerage that offers a variety of trading instruments to its clients. But, you have to confirm all its promises before you believe anything. Ready to do that? Let’s get started:

Regulation and licensing

The first promise that you need to confirm about any online broker is about their regulation and licensing. Every genuine and professional broker will have a license to provide their services in the jurisdiction they are based in. They will only be regulated when they are able to fulfill a certain criteria and agree to comply with rules and regulations. This is the kind of broker you should deal with because it offers you peace of mind because you know they are monitored and can be held accountable.

The fact that TraderProfx promises to be globally regulated sounds very impressive because it means it is licensed by regulatory authorities around the world. You will find an address on its website that puts it in the United Kingdom, which is one of the world’s well-regulated regions. This means that TraderPro should have a license from the Financial Conduct Authority (FCA), which is the regulatory body of the UK. Indeed, this is precisely what TraderProfx has claimed as well, but a search of its online database shows that no broker by that name is present.

This clearly indicates that TraderProfx is lying about being based in the UK and about its FCA regulation. Other regulatory bodies that it has also named include the Australian Securities and Investment Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC). However, none of these regulatory authorities have TraderProfx listed in their database either. This means that the brokerage is blatantly lying about its regulation and no legitimate company would ever commit such a blunder.

Trading software

The second promise you need confirm is the trading software that the online brokerage is offering because you have to use it for most of your trading activities. You cannot do any trading without it, so it has to have the right technology and tools that are required in the process. This is exactly what TraderProfx promises to deliver to you via its trading software and it even mentions the MT4, which is one of the leading platforms that exist in the market.

However, you are in for a rude awakening because you will find that TraderProfx is making yet another empty promise because it definitely does not have the MT4 available. Yes, it does have a web trading platform, but this is a generic and lackluster piece of software that many scammers offer just to create the illusion of being genuine. The tools and features it has are not even remotely close to what the MT4 can provide, which means it is likely that you are not going to have a good experience.

Trading conditions

The next promise you have to take apart is pertaining to the trading conditions that will be made available to you during the course of trading. Tight spreads are advertised by TraderProfx, but it does not live up to this promise. You will find that the so-called tight spreads begin at 3 pips, which is three times higher than the average spread offered by most brokers.

As far as the leverage ratios are concerned, you are promised levels of 1:500 and this is one promise that TraderProfx does fulfill. However, this does not establish its credibility because these leverage ratios are actually forbidden by the regulatory bodies it claims to be regulated by. The FCA, CySEC and ASIC have all imposed a cap on the amount of leverage that can be given to retail traders and it is not higher than 1:30.

The fact that TraderProfx is not following the regulatory framework is a clear confirmation that it has been outright lying about its licensing and it is offering these terrible trading conditions to exploit you.

Ending Thoughts

Once you take apart all the promises that TraderPro has made in its presentation, you can come to the realization that it is just trying to con you and you need to avoid such companies.