Company Overview
Pro X Finance is the trading name of Innovative Technologies Limited, a Marshall Islands-based corporation. These islands are an offshore financial hub where brokers of forex and binary options are exempt from financial regulation and pay low taxes.Does ProX Finance Have Any License?
ProX Finance does not have a license from any reputable financial regulator. We did not find any license information on their website. As they are operating under a mother company, they should at least present their licenseIs ProX Finance Regulated By Any Authority?
No, ProX Finance is not regulated by any authority. This means that there is no guarantee that the company is operating in a fair and transparent manner. Rather than being regulated, they are already blacklisted by FCA.
Pros and Cons
Pros | Cons |
Wide range of trading instruments | Unregulated broker |
Competitive spreads | Poorly designed website |
Lack of transparency |
How Does ProX Finance Reach To Their Prey?
ProX Finance uses a variety of methods to reach its prey, including:
- Online advertising
- Cold calling
- Social media marketing
- Affiliate marketing
The company’s advertising materials often make promises of high returns and easy profits. However, these promises are unrealistic and should not be believed.
Technical Details
Minimum Deposit:
The minimum deposit to open a trading account with ProX Finance is $500 (source: Pro X Finance Review – 5 things you should know about proxfinance.com (theforexreview.com)). This is an industry-standard minimum deposit, which may make it attractive to new traders. However, it is important to note that there is a high risk of losing money when trading with an unregulated broker like ProX Finance.
Trading Platform:
ProX Finance offers its clients the WebTrader trading platform. Their trading platform is not very customized and the offered conditions are not very attractive.
Spread:
ProX Finance offers spreads 3 (Source: Pro X Finance Review – 5 things you should know about proxfinance.com (theforexreview.com)) on its trading instruments. However, it is important to note that spreads can widen during periods of high market volatility.
Leverages:
ProX Finance offers high leverage on its trading instruments. Leverage can amplify your profits, but it can also amplify your losses. It is important to use leverage wisely and to understand the risks involved.
Packages and Products They Offer
ProX Finance offers only one account type: Standard Account. Legitimate brokers always offer different options for investors.
Withdrawal and Deposit Method
ProX Finance offers a variety of deposit and withdrawal methods, including:
- Credit cards
- Debit cards
- Bank transfers
- E-wallets
The company’s website claims that withdrawals are processed within 24 hours. However, there have been reports of traders experiencing long delays in receiving their withdrawals.
What Do Their Previous Traders Say?
There are a number of negative reviews of ProX Finance online. Traders complain about a variety of issues, including:
- Difficulty withdrawing funds
- Poor customer support
- Manipulated trading platform
Summing Up- Why Should Not You Trust ProX Finance
There are a number of reasons why you should not trust ProX Finance:
- The company is unregulated
- The company has a poor reputation
- There have been reports of traders experiencing problems withdrawing their funds
If Bad Things Happen, Where Can You Get The Quick Solution?
If ProX Finance has scammed you, you may be able to recover your lost funds. However, it is important to act quickly, as the company may disappear with your money.
There are a number of companies that offer recovery services for scam victims. These companies can help you to track down your lost funds and to take legal action against the scammers.
File A Complaint Against Scam Broker's
Final Thoughts
ProX Finance is an unregulated forex and CFD broker with a poor reputation. There have been numerous reports of traders experiencing problems withdrawing their funds from the company. It is important to avoid trading with ProX Finance, as there is a high risk of losing your money.
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