ProTrade24 Review – Professional Con Artists Prey On the Elderly

Anonymous and unsupervised by a financial authority, this questionable financial services provider promises a lot. From high returns to quick payouts and safest trading conditions, these cons are willing to publish whatever it takes to gain traffic. 

Alas, the fraudulent nature of the scheme is obvious once you realize the cheap website template has already been recycled countless times by other frauds. Keep reading our ProTrade24 review to find out the truth about this blacklisted sham.

Unverifiable Claims

The ProTrade24 broker, allegedly owned by a company with the same name operates from several domains, with protrade24.com already being out of function. 

For now, only protrade24.net remains active and it’s already been identified as a fraud by the regulatory authority of Germany. BaFin has investigated the conduct and issued a public warning which states that the broker operates without a mandatory Forex license. 

Furthermore, the firm claims to be headquartered in the UK, but FCA has no entry under this name in their database of regulated financial services providers. 

Nothing is a more valid proof of scam like a company being blacklisted. Therefore, don’t expect to be offered safety of funds, segregated accounts or compensation plans by these charlatans. StreakPips displays somewhat of a similar unscrupulous strategy and tactics, so you better not invest with them, either.

Targeting the Vulnerable

Both of the domains were created recently, the older one being protrade24.com from late 2023. This company doesn’t have any social links. They instead use the old “boiler room” strategy to contact the victims directly. This one is mostly active in these nations:

• Italy
• Greece
• Germany
• Spain
• Austria

Boiler rooms usually target people who are not very tech savvy, and pull them into the gray world of unregulated investments. Allegedly, all you have to do is seize the moment, and invest – momentarily, without a second to think.

The company’s boiler room agents will allegedly do all the rest, and you can just kick back and relax. These empty promises quickly turn the deal sour, though, when the victims realize they’ve been had. The money might be stolen, but that doesn’t mean it’s disappeared, so contact our experts to begin recovery.

Horrible User Experiences

While the ProTrade24 reviews on the web are not numerous, they all point out to the site being an online scam. The stories posted on TrustPilot all talk about known fraudulent strategies, such as targeting the pensioners and promising them unrealistic returns.

The platform’s current trust score is only 2.9 stars, albeit there aren’t many comments to begin with. As the situation develops, we can expect the company to start posting fake reviews, which is another strategy used by other shady firms like Finhubvest.

Same Web Template, Same Costs

As we’re already well familiar with this cheap site template that’s been copy pasted countless times before, all costs that are mentioned are just 0.75% fees. This includes 0.40% administration fees and 0.35% management fees. 

To fool victims into rushed deposits, the ProTrade24 scam advertises low spreads ranging from 1.5 pips to 0, with the maximum leverage being up to 1:500. 

Trading Tools are a Disgrace

Inexplicably costly trading accounts are just the tip of the iceberg. For such insane prices, you’ll be getting nothing but a rudimentary web terminal with little to no useful analytical and advanced trading tools. What’s more, beginners can’t count on any form of education and proper user support.

Inactive Trading Room

Since accessing the trading area doesn’t require registering for a ProTrade24 login, we could examine the trading terminal a bit. The trading platform is composed of an unmoving graph and only two active buttons: buy and sell.

Other functions do not seem to be working, including the simplistic customization tools. Such an oversimplified software is known to be heavily manipulated by the cons, so don’t even attempt to trade here!

Crypto Assets Only

As the great crypto craze continues, the vast majority of fraudulent and doctores platforms are starting to focus only on providing digital currencies. The faux online brokerage brand we’re reviewing is also gravitating towards that. Therefore, the only instruments found inside the platform are major coins, such as BTC, ETH, LTC, XRP, DOT, DOGE and others.

Account Types Meet No One’s Expectations

Although advertised as rich in features and a great way to financial markets, the ProTrade24 account types are just overpriced lies. These bogus packages promise everything from secure trades, signals and account managers to premium market analysis and education. 

Of course, none of these features are actually featured anywhere. That didn’t stop these miscreants from putting up abysmal price tags on each:

• Standard – $5,000
• Silver – $25,000
• Gold – $50,000
• Platinum – $100,000
• VIP – Invitation

Don’t Invest Crypto Here!

Promised high returns and quick payouts may seem like an attractive offer, but beware. Anonymous websites that force crypto transactions only are a dangerous place for multiple reasons. One major drawback and threat to your financial freedom is the riskiness of crypto funding procedures. 

Hardly trackable and barely reversibel (if ever), these should only be conducted with a trustworthy platform. Apart from that, this sham is known for charging hidden fees so you can expect that too as soon as you try to cash in any profit.

24/5 Bogus Support

It’s promised that the client service office is available every work day except weekends. Ways to reach out to the support office are:

• Email
• Phone
• Web form

However, as it turns out, not one user inquiry is ever answered. Whether that’s because no one cares or there’s no support office at all, but all user requests remain ignored.

Scammers Took Your Money? Get It Back!

The company that is supposed to be behind this brokerage simply doesn’t exist. The website is only a facade to further the deception orchestrated by the con artists. There is no trading, and any profits are fictitious.

If you, or somebody you know has become a victim of an online fraud, contact our experts. With our help, you stand a chance of recovering the stolen money. You may reach us 24/7 via the live chat, and our first consultation is free of charge.

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