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fxprotrade

Operating status: SCAM

Website: https://fxpro.trade/home/global/en/index.html

Broker violations and abnormal records
  • Aug 16, 2022 BrokersView has Reviewed that fxprotrade is an Unregulated Forex Broker

    fxprotrade claims it is a group that is authorized and regulated by multiple regulators across the globe, including:

    International Capital Markets Pty Ltd, regulated by the Australian Securities and Investments Commission (ASIC) with license number: 742853.

    fxprotrade (EU) Ltd is, regulated by the Cyprus Securities and Exchange Commission (CySEC) with the license: 443/16.

    fxprotrade Ltd, regulated by the Securities Commission of The Bahamas (SCB) with the license: PIA-F429.

    However, we did not find any match results to fxprotrade in the above three watchdogs' registries.

    What's more, fxprotrade also claims to be a trading name of Raw Trading Ltd, a company that holds a securities dealer license issued by the Seychelles Financial Services Authority (Seychelles FSA). We indeed find a match result to Raw Trading Ltd in Seychelles FSA. But as per the regulatory details shown on FSA, the only approved domain of this firm is "http://www.icmarkets.sc" instead of the one used by fxprotrade. 

    The truth is that fxprotrade is a clone firm that falsely uses the regulatory info of a regulated firm. fxprotrade is not overseen by any regulators. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.

    fxprotrade claims it is a group that is authorized and regulated by multiple regulators across the globe, including:International Capital Markets Pty Ltd, regulated by the Australian Securities and Investments Commission (ASIC) with license number: 742853.fxprotrade (EU) Ltd is, regulated by the Cyprus Securities and Exchange Commission (CySEC) with the license: 443/16.fxprotrade Ltd, regulated by the Securities Commission of The Bahamas (SCB) with the license: PIA-F429.However, we did not find any match results to fxprotrade in the above three watchdogs' registries.What's more, fxprotrade also claims to be a trading name of Raw Trading Ltd, a company that holds a securities dealer license issued by the Seychelles Financial Services Authority (Seychelles FSA). We indeed find a match result to Raw Trading Ltd in Seychelles FSA. But as per the regulatory details shown on FSA, the only approved domain of this firm is "http://www.icmarkets.sc" instead of the one used by fxprotrade. The truth is that fxprotrade is a clone firm that falsely uses the regulatory info of a regulated firm. fxprotrade is not overseen by any regulators. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.

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Risk Warning:

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.

Disclaimer:

The data contained in this website may not be real-time and accurate. The data and prices on this site are not necessarily provided by the market or exchange, but may be provided by market makers, so prices may be inaccurate and differ from actual market prices. Namely, this price is indicative price only to reflect market trend, and is unfavorable for trading purpose. The provider of the data contained in the Website shall not be liable for any loss incurred by you as a result of your trading activities or reliance on the information contained in the Website.