247ProTrade.com

247ProTrade.com proved to be untrustworthy at first by its looks. Even before we started looking at the technical stuff, we knew that this company would prove to be illicit. How so? Well, the template the website is built on is an overused one by a ton of other brokers all of which are unregulated. This is the first blow dealt to 247ProTrade.com. The review reveals the rest.

Perhaps the most worrying state that any broker can find itself in is being anonymous. We mention this becaseu 247ProTrade.com is actually fully anonymous, completely obscure and untraceable. Just imagine what happens if you give it any money or any copies of your ID, or similar documents? It will make the disappear faster than you know what's coming.

Anonymity is an automatic sign that the broker is also utterly unregulated and a risk to all. There is no sugarcoating it.

On to p of this, we find another nail for the coffin in the shape of a CONSOB warning. The Italian FX regulator has officially stated that 247ProTrade.com offers illicit services in Italy, meaning that it offers illegal services everywhere else!

What more proof do you need to label this broker a scam?

Investing in unregulated brokers is the digital equivalent of throwing your money away for the wind to disperse it. It’s obvious that no one would do such a thing. Go with brokers that are regulated by trustworthy organizations like the FCA or CySEC. These entities work closely with the law, enforce it when called for, and have strict requirements for those under their gaze. Not to mention that those under their jurisdiction are members of compensation funds that cover victimized clients’ losses of up to £85 000 (FCA) and €20 000 (CySEC).

Users won't be faced with any difficulties when opening an account. The easy account creation tool is completed within seconds. There was no user area in the traditional sense, instead once clients are registered, they get access to a bunch of simple sub pages that are added on top o f the default ones. This shows both a lack of professionalism and a touch of laziness.

Yet, in the end, we did find a functioning web trader, a lackluster one, but at least one that we can take all the trading conditions from.

As per the web trader, the EUR/USD spread is of 2 pips which is just on the bored of being considered unprofitable. The available instruments for trade are cryptocurrencies, forex currency pairs, indices, stocks, commodities, and futures. The maximum leverage value is 1:100.

247PROTRADE LOGIN

The web trader used here is one that is typical of brokers like 247ProTrade.com. It is limited in scale and quality, and it provides decent visuals which are mainly used to cover the fact that there is no depth.

Essentially, what we have here is a web trader that is the epitome of the FX scammer trading software: limited options, and seemingly complicated charts. Almost all terminals used by unregulated brokers either look like this one or have similar qualities to this one. There is no reason to buy into this one.

247PROTRADE.COM MINIMUM DEPOSIT

We have the user area's depositing section, which means that we would be giving away truthful depositing details.

According to the user area the minimum deposit is $250.

Payment methods are credit cards and debit cards.

These may seem like solid payment conditions, but one must not be so easily persuaded by scammers! All investments made here will be lost.

DON’T PROVIDE YOUR CREDIT CARD CVV CODE

The CVV code is the one thing that separates a buyer from a product. Without it, one cannot complete a purchase, even if him/her has given all other necessary information. By giving this detail to someone else, you are essentially inviting them to use your funds for their own means. And be warned that unregulated brokers most certainly plan to do so.

DON’T PROVIDE ACCESS TO YOUR COMPUTER AND BANK ACCOUNT VIA ANYDESK OR TEAMVIEWER

Be sure to never give AnyDesk or TeamViewer access to your PC to unverified agents. These 2 platforms allow for your PC to be taken over by a second party, oftentimes for help or guidance, but in the case of these brokers for the sole purpose of looting your bank account(s) and personal information. However, in order to do so your consent is needed, and this is the only thing standing in the scammers’ way.

247PROTRADE.COM WITHDRAW TIME AND FEES

Not being able to withdraw from unlicensed brokers is like an unofficial trademark of most scammer FX companies. They either cancel all requests or delay them indefinitely.

Here we have a withdrawal area that is blocked, for we had apparently opened a demo account. The company never told us that we were opening a demo account, but here we are. This is probably misleading information in order to excuse the company from processing a withdrawal request.

The website includes no withdrawal fees, nor any further info concerning these payments.

ACCOUNT VERIFICATION

Beware, once more, when giving away an ID and a proof of address. Trustworthy brokers ask for these before traders can deposit to make a check up. Deceitful ones will ask for these details, using the anti-money laundering legislation as pretext, once you start asking too many questions and are getting suspicious of their activities. Understand that they will use these to build a stronger case against you in the event that you request a chargeback.

Yet again we urge readers to stay away from this broker as it will, without a doubt, never return your funds and profits. If you wish to to get smooth and efficient transactions, please visit a FCA/CySEC regulated broker, where all withdrawals are handled with care and respect.

HOW TO RECOVER

The most sound advice we could give you is to immediately file for a chargeback with you credit card company.

If you have given away your credit card details including the CVV code to the “broker” you should cancel it ASAP and check with your bank to see the damage inflicted.

Also, beware of self proclaimed “recovery” agencies or agents. These cheeky scammers promise to fix your problem and restore the lost funds. They offer their services in exchange of a small sum from your end, after which you won’t ever hear from them again.

The last line of defense for these indecent folk is more like a desperate cry: often times they will comment on reviews and cite the whole ordeal as a conspiracy initiated by competitive brokers against them; at times even claiming that reviewers are anything but objective, and that no one writes good reviews. The absurdities are limitless!

BOTTOM LINE

There is absolutely no reason to even waste a second of your time with this full-on scam. All money will be lost, while the broker will profit!