Pinprotrade is a forex and CFD broker that has been accused of being a scam by many of its customers. The company is not regulated by any financial authority, and it has been accused of manipulating trades, stealing customer funds, and making it difficult for customers to withdraw their money.
In this article, we will take a closer look at Pinprotrade and expose its scammy practices. We will also provide some tips on how to avoid getting scammed by Pinprotrade and other similar brokers.
Company Overview
Pinprotrade is a relatively new forex and CFD broker, having been founded in 2022. The company is headquartered in the Marshall Islands, which is a notorious offshore tax haven. Pinprotrade is not regulated by any financial authority, which means that traders have no protection if the broker goes out of business or engages in fraudulent activities.
Does Pinprotrade Have Any License?
No, Pinprotrade does not have any license from any financial authority. This means that the company is not regulated and is not subject to any oversight. This is a major red flag, and it should be enough to deter anyone from trading with Pinprotrade.
Is Pinprotrade Regulated By Any Authority?
No, Pinprotrade is not regulated by any financial authority. This means that there is no one to protect traders from the company’s fraudulent activities.
Pros and Cons
Pros | Cons |
None | Not regulated by any financial authority |
Numerous complaints from customers | |
Accused of manipulating trades, stealing customer funds, and making it difficult for customers to withdraw their money |
How Does Pinprotrade Reach To Their Prey?
Pinprotrade reaches out to its prey through a variety of channels, including online advertising, social media, and cold calling. The company’s marketing materials often promise high profits and easy money, but these promises are nothing more than empty words.
Technical Details
Minimum Deposit:
Pinprotrade’s minimum deposit is $250. This is a relatively low minimum deposit, which makes it easier for Pinprotrade to attract new customers. However, it is important to remember that Pinprotrade is a scam broker, and you should never deposit any money with this company.
Trading Platform:
Pinprotrade uses its own proprietary trading platform. This platform is not very user-friendly, and it has been criticized for being buggy and unreliable.
Spread:
Pinprotrade’s spreads are high, which means that traders will have to pay more to trade with this company.
Leverages:
Pinprotrade offers high leverage to its customers. This can be dangerous, as it can amplify both profits and losses.
Packages and Products They Offer
Pinprotrade offers a variety of trading products, including forex, CFDs on stocks, indices, and commodities.
Withdrawal and Deposit Method
Pinprotrade offers a limited number of withdrawal and deposit methods. This can make it difficult for traders to withdraw their money from the company.
What Do Their Previous Traders Say?
There are many negative reviews of Pinprotrade online. These reviews allege that Pinprotrade has poor customer support, slow withdrawals, and manipulative trading practices.
Summing Up- Why Should Not You Trust Pinprotrade
There are many reasons why you should not trust Pinprotrade. The company is not regulated by any financial authority, and it has been accused of manipulating trades, stealing customer funds, and making it difficult for customers to withdraw their money. There are also many negative reviews of Pinprotrade online.
If you are considering trading with Pinprotrade, we strongly advise you to reconsider. There are many reputable forex brokers out there, and there is no need to risk your money with a scam broker like Pinprotrade.
If Bad Things Happen, Where Can You Get The Quick Solution?
If you have already deposited money with Pinprotrade and are unable to withdraw it, you may want to consider contacting a recovery service. Recovery services specialize in helping people recover their lost funds from scam brokers.
We offer a free consultation call to help you determine if you have a case against Pinprotrade. We can also recommend a recovery service that can help you recover your lost funds.
File A Complaint Against Scam Broker's
Final Thoughts
Pinprotrade is a scam broker, and you should not trust this company with your money. If you are considering trading with Pinprotrade, we strongly advise you to reconsider. There are many reputable forex brokers out there, and there is no need to risk your money with a scam broker like Pinprotrade.
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