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ProTrade24
Operating status: SCAM
Broker violations and abnormal records
On March 18, 2024, the Federal Financial Supervisory Authority (BaFin) warns consumers about the services offered on the online trading platform ProTrade24, a platform conducting banking business and/or providing financial services without the required authorization. https://www.bafin.de/SharedDocs/Veroeffentlichungen/EN/Verbrauchermitteilung/unerlaubte/2024/meldung_2024_03_12_ProTrade_24_en.html
On March 18, 2024, the Federal Financial Supervisory Authority (BaFin) warns consumers about the services offered on the online trading platform ProTrade24, a platform conducting banking business and/or providing financial services without the required authorization. https://www.bafin.de/SharedDocs/Veroeffentlichungen/EN/Verbrauchermitteilung/unerlaubte/2024/meldung_2024_03_12_ProTrade_24_en.htmlProTrade24 doesn't disclose any details regarding its regulatory status. The lack of necessary licenses is a scam indicator.
While it claims to be located in the UK, the platform fails to obtain the authorization from the Financial Conduct Authority (FCA). Therefore, the company is providing financial services out of the UK illegally.
In addition, the Federal Financial Supervisory Authority (BaFin) warns consumers about the services offered on the online trading platform ProTrade24, a platform conducting banking business and/or providing financial services without the required authorization.
In essence, ProTrade24 is not regulated by any governing body. Entrusting it with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds.
ProTrade24 appears to be a scam.
ProTrade24 doesn't disclose any details regarding its regulatory status. The lack of necessary licenses is a scam indicator.While it claims to be located in the UK, the platform fails to obtain the authorization from the Financial Conduct Authority (FCA). Therefore, the company is providing financial services out of the UK illegally.In addition, the Federal Financial Supervisory Authority (BaFin) warns consumers about the services offered on the online trading platform ProTrade24, a platform conducting banking business and/or providing financial services without the required authorization.In essence, ProTrade24 is not regulated by any governing body. Entrusting it with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds.ProTrade24 appears to be a scam.On June 10, 2024, the Comisión Nacional del Mercado de Valores (CNMV) added PROTRADE24 to its warning list for providing investment services without authorization. https://www.cnmv.es/portal/ResultadoBusqueda.aspx?tipo=1&nombre=PROTRADE24
On June 10, 2024, the Comisión Nacional del Mercado de Valores (CNMV) added PROTRADE24 to its warning list for providing investment services without authorization. https://www.cnmv.es/portal/ResultadoBusqueda.aspx?tipo=1&nombre=PROTRADE24On December 5, 2024, the Financial Conduct Authority (FCA) red-flagged ProTrade24 as an unauthorized firm in the UK. https://www.fca.org.uk/news/warnings/protrade24
On December 5, 2024, the Financial Conduct Authority (FCA) red-flagged ProTrade24 as an unauthorized firm in the UK. https://www.fca.org.uk/news/warnings/protrade24BrokersView found that the domains "https://protrade24.top/; https://protrade24.net/" are currently inaccessible. This is widely regarded as a significant red flag, as the suspension of a broker's website often points to underlying regulatory or operational issues.
BrokersView found that the domains "https://protrade24.top/; https://protrade24.net/" are currently inaccessible. This is widely regarded as a significant red flag, as the suspension of a broker's website often points to underlying regulatory or operational issues.
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