Last Updated on: 29th February 2024, 11:25 am
FxPro is an online trading site which offers culpable online trading to clients. The firm is not legitimate to trade, and the authenticity is far from gone. The broker’s website has a bad design. None want to board it twice.
FxPro Scam or Safe?
The broker is a complete scam, as we see it. FxPro categorically mentions that it is not an STP broker, which means that the transactions are not computerised. The broker also claims that it is not an ECN broker, this means that the real-time orders cannot be viewed and such brokers rarely help improve the market condition.
FxPro scam is a true term for FxPro. It plays with your emotions and toy with the heart before you could understand anything. You cannot verify the details presented by it on the official website. What else can you expect from an imposter?
The safety of FxPro cannot be reassured through inadequate regulations.
Account Types:
Some of the offered accounts have fixed spreads, while others have floating spreads. Indeed, the spreads are floating on the possibility of going towards the broker, and it will go towards the broker. The broker makes it look like that website is created for everyone, disregarding the level of expertise but the truth is, the website is only suited for people who have been in the market for a substantial amount of time. The broker keeps the number of vase currencies to a bare minimum. Even the demo account has an expiry date of thirty days.
Trading Platform:
The broker forces the use of older trading platforms like MT$. When MT5 is already rolled out in the market, why does the broker focus on MT4 so much? the older versions have some disadvantage or have failed in some on-field test, and that is why they are updated with better technologies. Older trading platforms miss out on important trading indicators and tools that can help a trader make better trades. the efficacy of older software is, for sure than the superior ones. the broker wants the traders to use an older platform so that they are ina forever loop of wrong trades and trading credit.
Markets and Products:
The broker facilitates underwhelming situations that put off your mood and undermine the trading skills. The CFD option is a disgrace that is dangerous for trading. You see the trust going in the basket of uncertainty, and everything falls apart. Your dreams shatter right in front of your eyes.
Account Opening:
The broker doesn’t decipher the procedure anywhere on the website, and the customers’ requirement to offer information without getting into the veracity of process.
No point and logic were seen on the broker’s website when it asked us for the information needed to open an account. The broken asks for a hundred different credentials, at the same time failing to provide the reason for such questions. The whole process looks lethargic and worn out at the same time. The broker’s time to verify one account is much more than what the average broker asks for. This all looks like a scheme to irritate the trader and then make him do what the broker wants; this is far away aroma a scam, this is cheating.
High commissions and Fee:
The broker is a disappointingly NDD type broker, which means that the spreads can be changed as soon as the market starts moving away from the broker.
We also discovered that a lot of hidden charges are kept within the payments loop. These included unnecessary swap fees, exceedingly high withdrawal charge, and a lot of unaccounted costs that in the end, cut from the profits a trader makes via the broker.
Deposit and Withdrawal:
You cannot trust it on withdrawal and deposit schemes. It charges mindless hidden charges that hurt the bank balance. When you apply for withdrawing your invested money, the broker does not behave nicely with the owner. It keeps delaying the task of withdrawal and deposits for sine die. If you do not have right over your own money, then what’s the use of trading with a fraud? The past cases are testimony to it that the brokerage company has troubled them. Hence, they had to quit.
Research:
The broker makes sure that the trader cannot do the right analysis by restricting the website’s education material. This is a major setback for a novice because research makes them a good trader and enhances their decision-making abilities. The broker keeps the demo account free of cost, at the same time, also deliberately commits a lot of indicators on the same account. This makes the account of no use at all.
Education:
The broker thinks that a novice can be fooled with cute little presentations on the market, but the truth is, they are little and filthy. Nothing was where it should have been when we visited the education section of the broker. The information is little, advertisements are a lot, and the trader has nothing new to learn.
Customer Service:
The broker claims that customer service is one of a class and the best. The truth is the class that the customer service belongs in the third one. The so-called representatives of the broker could not resolve straight queries and took forever to connect. By the time we got connected, the trade we had an issue, was long gone. this shows that the broker is not a safe broker and a complete scam.
Conclusion
The broker claims that it has a good credit score, but how can we trust the credibility of the website? We saw that this agency had less than 300 followers on Twitter, and less than 40 followers 0omn Facebook. This is wrong on so many levels. The broker ensures that the trader’s money does not go in that easily; it adds a third party wallet in between to further vandalise the transactions. Apart from a hundred another fl; was these ware the most striking ones. We recommend our traders to move their business elsewhere as fast as they can to firms like T1Markets, ETFinance, PrimeFin, and Brokereo,
