PromarketsFX Review: Promarketsfx.com a Master Scam

PromarketsFX Review
  • Regulation
  • Fund Safety
  • Customer Support
0.5

Summary

PromarketsFX is not offering negative account balance protection. The possibility of investors losing more cash than what they initially deposited is high. The platform could also change its terms and conditions without giving the notice to suit their greedy needs. 

PromarketsFX is a broker dealing with forex, crypto, shares, and commodities trading. At least that’s what they expect you to believe. The entity purports it is using a secure and innovative platform. The newest software in the market contributes to their success.

PromarketsFX Review, PromarketsFX Company 

Investment is about statistics. Unfortunately, the venture fails to provide trading performance. Therefore, there is no evidence the brokers are trading. The venture is only praising its superior trading software. They allegedly also have the best trading tools. 

PromarketsFX considers the safety of its clients. Therefore, the entity segregates wallets to keep the company’s money separate from customers. This is also a requirement of the financial watchdogs. Unfortunately, scammers only claim to be segregating funds only for them to collect money directly to their accounts.

The suspicious firm claims it is working with financial analysts. Each customer is assigned an expert to guide them in the market. Our main concern is that these are anonymous individuals. We are not aware of their educational background and experience in trading. 

For all we know you may end up entrusting your cash to incompetent and unqualified individuals. Legitimate crypto companies operate in full transparency. If things go south you will know whom to hold accountable. It is also easy for the financial bodies to resolve disputes.

Promarketsfx.com Review

PromarketsFX portfolio management allows clients to keep watch on their investments. The advanced tools minimize the risks of trading. In return, investors achieve a higher profit margin. Sadly, we are yet to encounter any successful client that has earned by utilizing the services of this platform.

They also claim to secure the data of customers. An SSL and DDoS certificate are not enough to protect clients’ information. Not when you are dealing with scammers. Once you give them access to the critical data, the fraudsters can do whatever they please. Identity theft is a serious crime. 

PromarketsFX claims to be offering an educational program. They conduct seminars and provide daily news and market analysis. The lame platform even fakes its times in the market. The broker states it has been in operation since 2011. Whois.com data indicate the firm made its first digital footprint in 2021.

A company’s illogic to provide false information to win over more victims. Choosing this broker is a waste of resources and time. They do not care whether you generate passive income or make significant losses.

PromarketsFX Trading Conditions 

PromarketsFX is offering endless trading opportunities to all traders. Available assets include; forex, commodities, stocks, and crypto. There is no commission to be paid when opening or closing trade. However, clients can expect other applicable charges. The broker showers praise their use of the latest innovative software. 

We spent time looking for the download link. Sadly, it appears the website does not have an active trading interface. The only thing available is the trading charts of BTC. For all we know, the company might have taken the information from third-party websites because it does not belong to them.

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Investors that sign up for the company with the hope of making money are in for a rude shock. PromarketsFX does not even qualify to refer to itself as an investment scheme. Furthermore, companies trading forex will provide their customers with MT4 or MT5 trading interfaces. 

Promarketsfx.com Review, Promarketsfx.com Features

Another big red flag is that the entity fails to provide the trading terms. They only advertise customers shall enjoy zero commission. Information regarding the swap, leverage, and spread is missing. It shows the level of unprofessionalism with the platform. Ironically, the broker is asking for a capital of $250. 

Why would you deposit such an amount when there are no investment services or products? PromarketsFX’s five accounts are useless and a complete rip-off. Walk away from the notorious Ponzi scheme while you still can. 

Withdrawal and Deposit 

The deposit methods available include; BTC, Visa, Mastercard, and wire transfer. In the FAQ section, you will learn the only withdrawal option is via bank transfer and digital payments. This offshore scheme and licensed companies are that the latter offer numerous transparent payment methods. 

Limitless choices range from; PayPal, e-wallets, Neteller, Skrill, and credit and debit cards. Clients can also ask for a chargeback from the platform. Customers can cash out 500 units via wire transfer and 50 currency units via credit card. We are in the dark regarding what is the minimum withdrawal for crypto. 

Legal documentation indicates clients are being charged a withdrawal fee of 20 currency units. PromarketsFX is a company that is only after clients’ funds. The high charges are unfavorable to users. Those that ask for a chargeback must pay an unspecified fee. The inactivity accounts are subjected to a 50 currency unit charge. 

Contact Details and Customer Support 

According to the company, clients can reach the support via live chat, phone, or email. The team operates 24/5/. Investors can use the only available communication channel by filling out a contact form or sending an email. 

PromarketsFX doesn’t even bother to provide an office address. There are shamelessly accepting clients from all over the world. The venture is breaking the law. They also expect you to entrust them with personal data, yet they cannot disclose their whereabouts. 

When looking for a genuine company, go for the one that offers quality support. Unfortunately, shady offshore schemes cannot afford to pay the support team. They will cut you off when they realize you have run out of money.

PromarketsFX Regulatory Status

PromarketsFX does not have a parent company. Everything is being run behind the shadows. They violate the rules set by the financial bodies. The terms and conditions policy fails to mention the legal body responsible for resolving disputes that may arise. Unregulated firms tend to do whatever they please. 

Investment companies ought to operate in full transparency. How can you entrust the broker with your funds while you are unaware of who they are? Legitimate platforms will let you know the experts working in the enterprise. 

Nonetheless, it would help if you stuck to the licensed broker. You shall enjoy better trading conditions. These are ventures that adhere to the set rules. They can also survive market volatility. If things become sour and the ventures face bankruptcy, clients can receive compensation. This is not the case with illegitimate firms. Offshore schemes exit the market unceremoniously. 

PromarketsFX is not offering negative account balance protection. The possibility of investors losing more cash than what they initially deposited is high. The platform could also change its terms and conditions without giving the notice to suit their greedy needs. 

The worst scenario is that an unregulated platform withholds traders’ money. It is impossible to recover your cash after making a deposit. They will request hidden charges that were never mentioned on their website. Avoid trading with such companies for your sanity. 

Final Verdict 

PromarketsFX is a dirty Ponzi scheme. The platform is not secure, and they do not have active trading software. The company is using fabricated information to trap more victims. The venture lacks a license and fails to disclose trading conditions. We are also unaware of their country of origin. 

Invest wisely by choosing reliable and transparent crypto ventures. These are companies that have great reputations in the market. You can also read their clients reviews to get an insight of what to expect. 

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