TrademoreproFX

TrademoreproFX is perhaps one of the worst brokers we have seen in a while, and that is saying something considering the amount of brokers we review on a weekly basis. The first look on the broker was the decisive one, and we knew then and there that we would be dealing with a scam. And we were not even once wrong. The following review is the result of our interaction with this shady broker.

We are told that the broker is registered in the UK, yet there are no details as to any proof of this, which is what matters. Without evidence of a license in the UK, we cannot confirm that TrademoreproFX is legitimized in the UK. We never actually fell for this claim. This broker is definitely not affiliated with the UK in any way.

We soon discovered that there are no legal documents, which is one of the hallmarks of the unregulated broker. The missing provisions are exemplary of the scammer part of the broker because we can fully state that TrademoreproFX is not legal in any way. These documents are crucial to forming the user-broker relationship. Without them, there is a clear gap between the two parties that can be bridged by scamming the user.

We have one last significant detail that we want to include before reaching the obvious verdict. This is the FCA warning against the broker. TrademoreproFX is blacklisted by the FCA, meaning that it is fully illegal.

This broker is definitely unregulated and a risk to all!

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).

The account registration process required from us a referral, but we were able to continue as we made one up. Yet, the presence of a referral means that the user might have been contacted by a representative of the company to solicit him or her.

We were faced with a very bad user area; there is no way around this. It was a complete mess, and it seemed like it was about to crash at any moment. And the worst part of it all? There was no trading software.

Let's avoid the shock rhetoric, and go straight to the point. No trading software equals a complete lack of trading conditions, such as tradeable assets and spreads. TrademoreproFX simply can be dismissed as being a broker.

TRADEMOREPROFX LOGIN

The lack of a trading software is not a surprise, and we really don't care for it. However, it's important to note that the user area presents an alternative, i.e the notorious investment plans:

Here the client is told that an investment of $2500, for example, can result is a 50% profit over the next 5 days. But where does this profit come from, and why is the firm so generous, are question alongside many that are not answered, because there are no real answers. It's all one big lie!

TRADEMOREPROFX MINIMUM DEPOSIT

The investment plans area that he wave revealed above also acts as the official depositing area. However, once we accessed the final deposit form, we were able to continue with only $1, and not with $500 as the investment plans obviously reveal with $500 being the alleged minimum deposit requirement to proceed with the packages. Does this broker even know what it is doing?

The only way to invest is through a  very shady BTC wallet, telling us clearly that once invested the money will be lost forever.

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.

TRADEMOREPROFX WITHDRAW TIME AND FEES

A BTC wallet is also used for withdrawals but we never had any hopes for withdrawing in the first place.

There are no further details on payments. And we don't need them.

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

We have more than enough material to staple this broker a scam and a waste of money and time! Do not invest here!