Prolific Trades Review : Fees, Pros and Cons, Reviews by Real Traders

Prolific Trades

Operating status: SCAM

Website: https://www.prolifictrades.com/

Broker violations and abnormal records

Jul 09, 2023 The MFSA issued a warning against Prolific Trades
On July 10, 2023, the Malta Financial Services Authority (MFSA) issued a warning against Prolific Trades, stating this broker is neither a Maltese registered company nor licensed or otherwise authorised by the MFSA to provide any investment services or other financial services which are required to be licensed or otherwise authorised under Maltese law: https://www.mfsa.mt/news-item/mfsa-warning-prolific-trades-ltd-unlicensed-entity/

On July 10, 2023, the Malta Financial Services Authority (MFSA) issued a warning against Prolific Trades, stating this broker is neither a Maltese registered company nor licensed or otherwise authorised by the MFSA to provide any investment services or other financial services which are required to be licensed or otherwise authorised under Maltese law: https://www.mfsa.mt/news-item/mfsa-warning-prolific-trades-ltd-unlicensed-entity/
Jul 10, 2023 BrokersView has reviewed that Prolific Trades is an unregulated broker
Prolific Trades claims to be regulated by the Malta Financial Services Authority (MFSA), a claim that denied by the MFSA in a warning against the company.
Prolific Trades also purports to be regulated by the Polish Financial Supervision Authority (PFSA). However, our search for the company in the Polish financial watchdog's registry didn't yield any results.
Prolific Trades asserts that it is registered in the USA, where a forex broker must be regulated by the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA). However, our search for the company in the NFA register revealed that it is not an NFA member and thus not subject to its oversight.
In essence, Prolific Trades is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. It is unequivocally a scam.

Prolific Trades claims to be regulated by the Malta Financial Services Authority (MFSA), a claim that denied by the MFSA in a warning against the company.Prolific Trades also purports to be regulated by the Polish Financial Supervision Authority (PFSA). However, our search for the company in the Polish financial watchdog's registry didn't yield any results.Prolific Trades asserts that it is registered in the USA, where a forex broker must be regulated by the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA). However, our search for the company in the NFA register revealed that it is not an NFA member and thus not subject to its oversight.In essence, Prolific Trades is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. It is unequivocally a scam.
Jul 24, 2023 The Germany BaFin issues a warning against Prolific Trades
On July 25, 2023, the Federal Financial Supervisory Authority (BaFin) warns consumers about the website prolifictrades.com, saying it is providing financial and investment services via this website without the required authorisation and not regulated by other national supervisory authorities. https://www.bafin.de/SharedDocs/Veroeffentlichungen/EN/Verbrauchermitteilung/unerlaubte/2023/meldung_2023_07_202_prolifictrades_en.html

On July 25, 2023, the Federal Financial Supervisory Authority (BaFin) warns consumers about the website prolifictrades.com, saying it is providing financial and investment services via this website without the required authorisation and not regulated by other national supervisory authorities. https://www.bafin.de/SharedDocs/Veroeffentlichungen/EN/Verbrauchermitteilung/unerlaubte/2023/meldung_2023_07_202_prolifictrades_en.html

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