Global Pro Trader

Global Pro Trader seems to tick all the boxes in terms of a functioning broker, yet we are still compelled to dig a little further in order to make sure if this broker is worth your investment. Read on to find out more.

Global Pro Trader is one of those brokers that does not include any talk of regulation. Usually, a broker that is regulated is always proud of it, and it showcases it at any given time. Even some illicit brokerage firms lie about licenses in order to trick traders. Yet Global Pro Trader has done none of these things, decidedly going for a barren regulatory environment. Thus we have no choice but to deem this one UNREGULATED, which in turn gives it the tag of a 100% unsafe broker.

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 requirement 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).

We were able to register, but here's the thing: without a verification of our account, there was no way to actually access said client area. Thus any trading information is taken straight from the website of the broker. Thus we have a leverage that ranges from 1:100 to 1:500, while the EUR/USD spread is nowhere mentioned, and the trading assets are no where to be seen either. This lack of info can be seen as proof for this broker's illigitimate operation.

The website is translated in English and German.

GLOBAL PRO TRADER LOGIN

Since we were unable to access our account, there was no real way to get a hold of a trader's terminal. Yet the broker has claimed that it includes a MT4. Howevere, on its main home page we enocuntered something contradictory. The broker had included a 3rd party chart that projects trading terms from the OANDA broker (a regulated broker).

Nevertheless, the MT4 is abundant with great features that make it the powerhouse it is today. Expert Advisors, numerous order types, customizable charts and indicators, drag and drop chart and a plethora of other features. However, there is no way to proove that this platform actually makes an appearance here.

GLOBAL PRO TRADER MINIMUM DEPOSIT

For both deposits and withdrawals the only source of info are the numerous text in the website, and not from the client dashboard. This is what we got a hold of: the minimum deposit is $2000, and the depositing means are via Credit and Debit cards.

Once more: this broker is clearly unregulated, and if you choose fund an account with it, it will put you directly at risk of loosing all funds. For safekeeping your money, we strongly advise to avoid all brokers who do not have a proper license from renowned regulatory bodies. Agencies like the FCA and CySEC stand out as some of the top license issuers in the world, notorious for their severe requirements and close relationships with the law.

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, often times 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.

GLOBAL PRO TRADER  WITHDRAWAL TIME AND FEES

As mentioned, withdrawal info is unstable. Withdrawals are processed within 30 days of an account being opened, which is confusing. The kinimum withdrawal amount is $50, and there are no fees for it.

ADDITIONAL FEES AND TAXES

Ttraders should keep their guard up. Unlicensed brokers utilize smartly crafted tactics to keep you as invested as possible into their schemes of deception. And seeing that every day there are many who fall victim to their plans, one must realize that these people are smart and fully capable realizing their schemes, either by finding or creating loopholes in the T/C, by reassuring that the more you postpone your withdrawal the better the chance of quadrupling your initial investment, or just asking for more deposits.

ACCOUNT VERIFICATION

If a broker is unlicensed, never give you ID and personal details to it, because the broker will use these details against you once you file for a charge back. Furthermore, any allegation held against the brokerage will be easily refuted if they have in their possession a copy of your ID and proof of address.

We are positive that this so called broker will not return your funds; the evidence we have laid out before you work in sync against it. The sound thing to do is to direct your attention and investment to an FCA or CySEC licensed broker where the law is integrated in every aspect of their operations.

HOW TO RECOVER

The only way to recover is by filling for a charge back, and hoping it’s not too late.

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.

Victimized traders will have their guards down looking for every opportunity to get their money back. This is where the fake recovery agents come in, seeing an opportunity in your desperateness. First of all, they will promise to recover all your money, but they will ask a fee to cover their services. Once this fee is paid rest assured that you will never again hear from them.

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

All in all Global Pro Trader has potential if it were not unlicensed. For this reason we will never recommend it to anyone!