Many brokers who look like TheProFXMarket.com have passed us by and tried the same old tactics. We could have easily reviewed this broker without our eyes closed. The website tries to pack as much information as possible, and it looks like a hoarder’s backyard. This broker is trying to do too much. Where is the simplicity, the focus on quality over quantity? There is nothing good about this place. For more information, read the review.
We were not allowed to access the user area as our account application was rejected. TheProFXMarket.com will only allow certain types of clients to access its portal area. Only those who are ready to invest are allowed.
However, the site states that trading assets include cryptocurrencies, forex currency pairs and indices. Shares, options, commodities, and ETFs. Leverage can reach as high as 1:1000, which is extremely dangerous and can drain entire accounts in a matter of seconds. There was no spread.
Any broker who appears to be TheProFXMarket.com while claiming to hold multiple awards, including the best trading conditions, should be punished. This is something that no one would take seriously.
Then things get more complicated. We are given a United States business licence and a US address. These two documents indicate that TheProFXMarket.com has been registered in the most notorious jurisdiction of any FX broker. There, the rules and regulations can be so strict that even the smallest error could cost the firm millions. TheProFXMarket.com does not have the funds to pay penalties fees and it also misleads customers with a forged business certificate, false US address, and forged business license.
The firm also presented a Saint Vincent and the Grenadines certificate for incorporation as a backup plan. Again, this is a completely ineffective claim. The only difference here is that the certificate may be accurate, but that doesn’t change anything. The small islands nations are home to the most fraudulent conditions that have attracted thousands unregulated brokers over time.
Last but not least, there are no legal documents and no safety net that users can rely on. TheProFXMarket.com is completely unregulatedand a huge risk for all!
You should not invest in unregulated brokers. This will ensure that you don’t fall for investment scams that will not only drain your money, but also waste your time and energy. If you are willing to invest and have the skills or desire to learn, you can choose from any of the European or UK, US or Australian brokers that we have compiled. All of these are regulated and meet industry standards. However, they are limited in their freedom by top regulators.
Although we are able to access both the MT4 or MT5 via the website, none of these areas are actually accessible. We are skeptical that registered users will have access to them. Usually, there is an incompetent web trader.
The website’s homepage also contains a binary options trader. However, this seems like a futile attempt by the broker. It doesn’t even explain why the terminal exists.
Then, there are a variety of investment packages that offer misleading profit potential. A $500 deposit can bring you huge profits in just a few weeks. It’s a scam!
We can rely on the site and have learned from experience that unlicensed brokers rarely tell the truth.
According to the FAQ’s only BTC and ETH depositing options are available. This means that payments cannot be traced and are lost forever. Unlicensed brokers prefer crypto wallets as the preferred payment gateway.
The minimum deposit required to activate an investment package seems to be $500. The investment packages are also a mystery so it is impossible to know what the minimum investment requirement is.
We believe clients cannot withdraw from this site because there is no withdrawal information. They should therefore not invest!
Over the past decade, scams have not changed much since their inception. It’s the same principle, only that it is presented on different websites and by a variety of agents.
The core is the same. The broker attempts to grab the client’s interest by either advertising false profit gains or directly contacting them. However, the vastness and power of the internet means that the broker eventually gives the user either an email address or a number to some forgotten source.
If the user is contacted (or falls for the ads), he or she will be taken to the website of investment fraud and pushed to invest by either sweet talking representatives of scam or the account manager, who also keeps the whole thing under control.
The ultimate goal of the scam is to get the user to invest once and then the trap is completely closed. The client has already lost money and any additional investments are a bonus for the broker. All withdrawals are not possible, even if the broker appears to be in control, it’s all part and parcel of the scheme.
Sometimes users will be able to taste a little bit of profit. This motivates them to invest more. After that one-time, most clients realize that something is not right.
If you have previously invested through them, it is a good idea to file a chargeback with your debit or credit card provider. MasterCard and VISA have a chargeback period that lasts 540 days. It’s relatively easy to get reimbursed. That’s why there are fewer scammers offering card payments.
Wire investments are a much easier way to lose your money. We can only recommend that you contact your bank as soon as you notice that the money has been lost or when you suspect you have been manipulated. This will allow you to change your password and user name for your bank account.
We now come to the most popular investment method of unlicensed brokers, crypto wallets. These are not traceable and once a payment is made, it’s over! There is no way to get your money back.
Don’t trust agencies or recovery agents promising to return your money. They will charge you a large amount for their services, but they will disappear as soon as your money is paid!
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theprofxmarket is an anonymous financial swindler. If you cannot get your money back, contact us for assistance with the recovery procedure.
The company says it takes one day to process the request, but the time necessary for the funds to appear in the bank account varies. Quite vague.
No, since theprofxmarket broker has no regulation. Your funds are not safe with this scam brokerage.
Broker provides only a proprietary web trader for its clients, desktop and mobile.
