FundsProMax Review – Notorious Scheme On The FSMA Radar
FundsProMax broker presents itself as a trusted and secure cryptocurrency exchange. Unfortunately, it’s everything but that. From all we’ve learned during this FundsProMax review, it’s another scheme firm pretending to be able to make thousands of dollars overnight while, in fact, it’s just extorting money.
|Regulated by:||Unlicensed brokerage|
|Blacklisted as a Scam by:||BaFin, FSMA, CONSOB|
|Cryptocurrencies:||Available – BTC, ETH, XRP|
|Types of Assets:||Cryptocurrencies|
|Free Demo Account:||Not Available|
|Accepts US clients:||US traders are not accepted|
Is FundsProMax Regulated? – Why Does It Matter?
If you want to guarantee that you can withdraw your funds, your broker needs to have a license. And it needs to give you all the information about the company, the banks where your funds are kept, and more.
This company claims to be based in Switzerland, but we can’t verify this. Also, there is no other information.
What’s Wrong With A Trading License?
Simply put, FundsProMax regulation is not with any Tier1 or even Tier2 or Tier3 regulators. We’ve checked everything from Swiss FINMA to the FCA, ASIC, and even offshore regulators and found nothing.
Be careful and don’t involve yourself in FundsProMax trading scam.
Scam Warnings Against FundsProMax
Since the broker presents itself as BaFin regulated, this authority body has decided to issue an official warning. Next in line was Belgian FSMA, while the Italian regulator CONSOB republished BaFin warning.
Official Warnings Issued by BaFin and FSMA – Evidence of Fraud
The German regulator reacted after numerous company complaints and explained that the firm is not, in fact, regulated and provides financial services illegally. Not long after, Belgian FSMA added fundspromax.com to the list of unregulated domains. And that’s all the legal confirmation we’ve needed to conclude that this firm is a notorious scheme.
Where Is FundsProMax Trading Scam Active?
A good question would be where it’s not active. The broker is advertising its scam in all countries except the US. However, the most scammed areas are:
- New Zealand
FundsProMax Login Problems – Red Flag Problem
There have been lots of reports of FundsProMax login issues. Apparently, anyone who had submitted a withdrawal request discovered they could no longer log in to their trading account. And that’s an immediate red flag.
If you have any issues logging in to your account for more than a few hours and there’s no valid explanation from the company, you should file a report immediately.
FundsProMax Trading Reviews
FundsProMax reviews are horrible, showing everything clients are going through with this illicit broker. The company has a score of 2.4 stars on Trustpilot and has been rated as poor.
Here are just a few examples for you to see what kind of scheme you’re dealing with.
“Criminal operation. Don’t believe reviews that say they got their money back.”
“I invested small to start with, and then every few days I was contäcted by my so-called account manager CALVIN JACOBS to start investing more monəy as I was missing out on profits so over a 2 month period I invested approximately £34,000 which seemed to be making a fantastic profit. I then asked to withdraw some of the fvnds, only to be told that my account was in the liquidation process and soon as I had paid a UK t⍺x biII for £20,601 for profits earned before they would release the £171,501.82 from my tradlng account so I paid the tax bill only to be told 3 days later by chief liquidation officer LOGAN PRICE that the mőney from the t⍺x bill had gone into my tr⍺ding ⍺account by mistake so I would then have to pay the £20,601 again before the funds would be reIeased. I told them I did not have the mőney to p⍺y and they told me that seeing as it was the company’s fault that I would only have to pay half of the t⍺x biII again which would be £10,300. I told them again that I did not have the mőney and they even offered to get me a bank loan to pay it. That’s where it ended. I have sent em⍺ils to Fundspromax but have had no reply till I involved a dispute rəsoIution officer and his te⍺m of profession⍺Is whose address I attached to headder.”
What Trading Platforms Are Available? – Trading Software
The only platform FundsProMax advertises is WebTrader. Allegedly, it offers live technical analysis, live market data, coin listing, market depth, and more. However, we have nothing on the charts and indicators, while trading conditions such as spread and leverage cannot be found.
Mobile Trading App – Trade On The Go
Furthermore, the broker doesn’t mention any mobile apps for Android or iOS, meaning that you will most likely have to use your web browser.
What Products Does FundsProMax Offer?
This company only offers cryptocurrency trading. As explained, the broker presents itself as a crypto exchange and offers various cryptos with unknown leverage and spread. Since even exchanges need to have regulation, and the company never obtained one, you should know better.
Also remember the names of the Sapphire Markets, Crystalead and AskForBit trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!
Trading Accounts Overview
You can choose among 5 FundsProMax account types:
- Explorer – $500
- Basic – $2,000
- Silver – $10,000
- Gold – $25,000
- Platinum – $100,000
You will get nothing out of it since the only thing that’s upgrading is the amount of FundsProMax bonuses and alleged protected trades.
Demo Account – Trial Account
There’s no FundsProMax Demo account, so you will have to deposit the money if you want to trade.
FundsProMax Withdrawal Methods – How To Withdraw Money?
FundsProMax’s minimum deposit is $500 and can be made “via credit card or cash.” Since we’re not sure how this cash variant will function, we can say that the card is practically your only way to fund the account.
Be aware of the FundsProMax trading scam and avoid investing any funds with this bogus broker.
Scammed By FundsProMax Broker? – Talk To Our Recovery Experts
If you fall victim to the FundsProMax scam, contact us immediately. We’re here to help you get your money back through the chargeback process.
Get in touch via online chat to book a free consultation and let’s get your money back before it’s too late!
What Is FundsProMax, And Should I Invest Money In It?
FundsProMax is an illegal crypto exchange not worth your money.
What Is The FundsProMax Minimum Deposit?
The minimum deposit with FundsProMax is $500.
Can I Trade Cryptocurrencies And CFDs With FundsProMax Broker?
You can trade crypto as CFDs with FundsProMax broker.
Does FundsProMax Give a Deposit Bonus When Opening an Account?
You can get a 30-150% of bonus when opening an account with this firm.
Is FundsProMax a MetaTrader 4 Forex Broker?
The company offers only a WebTrader, not MT4 or MT5.