Introduction to ProTradeFX Review:
Scam brokers are dangerous. With the trade industry doing very well and earning profits, scammers are automatically attracted to the industry. They use a variety of tricks such as psychological triggers and emotional triggers to get the customers into investing more and more money into the trade. With the false hopes of getting huge profits, the innocent traders deposit all of their hard-earned money and end up falling into a debt trap.
ProTradeFX claims to be the best in the market with assured high returns to the customers. They also claim various other profits for the customers. With four different account types and varying benefits, ProTradeFX claims that it is just like the other legit brokerage firms. However, ProTradeFX is clearly lying. ProTradeFX is a potential scam and we will tell you why. Read on to know more about it in this ProTradeFX review.
Debunking the claims of ProTradeFX Review:
In this section, we specifically address all the red flags posted by ProTradeFX. We will also be giving explanations as to why these issues are harmful. Read on to know more.
Minimum Deposits and Account types:
ProTradeFX offers four different account types to their customers with varying minimum deposits. Readers must know that the minimum deposits demanded by the regulated brokerage firms lie in the range of $5 to $10.The regulations advise against asking for a minimum deposit as it is unnecessary. ProTradeFX offers four different account types by the names of Standard Account, Classic Account, Premium Account, and Gold Account. The minimum deposit for the Standard Account of ProTradeFX is $250. The minimum deposit for the Classic Account is $2500. The minimum deposit for the Premium Account is $20000 whereas it is $50000 for the Gold Account.
ProTradeFX and leverage:
Readers must know that leverage is yet another problematic aspect. Higher leverage will increase the chance of the trader losing the trade. Due to this reason, the leverage is capped in several countries. The leverage is capped at 1:30 in Europe and it is 1:50 in the USA. ProTradeFX offers leverage of 1:200 to their customers which is much higher than the normal leverage offered by regulated brokerage firms. That poses yet another red flag against ProTradeFX in this ProTradeFX review.
Minimum Trading Size:
ProTradeFX reveals no information about the minimum trading size that the trader must comply with on their website. Hiding or keeping the information from public reach poses yet another red flag against ProTradeFX.
To sum up, all that has been said above, we leave the decision of whether ProTradeFX is a scam or not to our dear readers. If you are trading with ProTradeFX or are thinking about opening an account with ProTradeFX, we warn you to stay away from ProTradeFX as it is a potential scam. If you have been scammed by ProTradeFX or any other scam broker, do not worry. All you have to do is fill the form and file a complaint on our page. Our experts will analyze the matter and get back to you at the earliest with the best possible solutions for fund recovery.
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