Grow Pro Markets Review: Proven Scam Brokerage

Scam brokers are all much of a muchness. From the moment you access the Grow Pro Markets website, you will notice a shortage of information and heaps of unproven statements. 

Most of all, this phony broker is blacklisted by the Spanish financial authority. Likewise, it operates unlicensed and unregulated. It claims to be registered in the UK. However, its London address is fake.

Other than this, it gives empty promises about the availability of MetaTrader 4, one of the very best trading platforms today. 

Therefore, if you are interested in foreign exchange markets, for the sake of financial safety, avoid this shady brokerage firm like the plague. Please proceed with the Grow Pro Markets review and find out why this company is a fraud.

Additionally, we strongly advise you to avoid the fraudulent brokers YellowStoneFX, Tradercr, and Crystal Trust.

Can I Trade Safely With Grow Pro Markets?

Insofar as it relates to money protection, it is secured by legislation and financial market regulators. In this case, if we ignore that Grow Pro Markets lies about its headquarters, it should be authorized by the British FCA, which controls the forex markets in the UK. 

However, this fraudulent broker lacks any relevant accreditation. That is to say, traders are put in greater jeopardy by this unauthorized brokerage firm. What is more, Grow Pro Markets can’t be found in the Companies House registers, implying that it is not even a registered business.

Some Reasons Why It Is Better To Trade With a Licensed Broker

Trading with an outright scam can never be safe. Aside from its intent to defraud, Grow Pro Markets doesn’t have the capability to secure your funds. Unlike this, licensed brokers ensure the safety of investment with a range of risk management tools. 

First of all, they must adhere to strict regulations and provide services in accordance.

For instance, brokerage firms authorized by first-class financial regulators like FCA, ASIC, and BaFin are the most reliable, implement negative balance protection and segregated accounts, keep your funds in major banks, and are insured by compensation funds (e.g., up to 100,000 AUD per trader). Consequently, we recommend investing with legitimate forex providers only.     

Warnings From Financial Regulators As a Red Flag About Scam

As mentioned, the Spanish supervisory body, CNMV, warns against Grow Pro Markets. This is more than enough grounds for staying away from this bogus broker. 

The CNMV is regarded as one of the most reputable financial agencies. It regulates securities markets in Spain and has taken measures to protect Spanish traders from scams run by Grow Pro Markets.

What Trading Software Does Grow Pro Markets Offer? – About Platform Reliability

When it comes to online financial trading, technology is an essential tool. Simply put, successful results are not attainable with weak trading software. 

Leading brokers invest in state-of-the-art programs, enabling traders to enjoy safe and profitable trading. Quite the contrary, financial swindlers like the Grow Pro Markets broker pretend to have the latest platforms.

MT4 Trading Platform

Accordingly, the Grow Pro Markets trading system is as genuine as this fraudster. Thus, its promise of MetaTrader 4 is a deception. On a side note, this modern platform, along with its enhanced version MT5, cTrader, and Sirix, allows trading from any device. 

In addition, they comprise cutting-edge features such as copy trading, automated trading, and stop loss.

WebTrader

As a matter of fact, Grow Pro Markets provides a web trader, which can’t hold a candle to the foregoing advanced programs. Besides that, the web trader enables trading from search engines only. 

By comparison, MT4 and MT5 are available as mobile trading apps for Android and iPhone, internet-based platforms, and computer software. For the most out of trading, you should choose legitimate brokerage companies offering any of the above-mentioned programs.

What Сan Be Traded? – Assets List

Another crucial fact is the number of trading instruments. As concerns investment scams, they assure traders that they can access a wide array of markets. By the same token, Grow Pro Markets offers the following tradable assets.

• Forex: USD/JPY, GBP/EUR, CAD/AUS;
• Commodities: wheat, crude oil, gold;
• Shares: Ford, NVIDIA, Verizon Communications;
• Indices: Dow 30, S & P 500, FTSE 100;
• Crypto: Tether, Dogecoin, Bitcoin.

Needless to say, despite this offer, you can’t expect to trade on these markets under favorable conditions at Grow Pro Markets.

What Are Traders Saying About Grow Pro Markets?

If we disregarded all evidence about this broker scam and relied on positive Grow Pro Markets reviews on the net, we would fall for its trick. However, with the power of the internet, it can be accurately verified whether a broker is a scam or legit. Thereby, please ignore these fabricated reviews. Take nothing for granted. In other words, trade only with brokerage firms that can prove their trading credentials, regulations, and other relevant statements.

Where Does Grow Pro Markets Engage In Fraud? – Countries Of Service

Grow Pro Markets takes advantage of people’s interest in foreign exchange markets by scamming traders from

• Germany
• Czechia
• Italy
• Portugal
• Spain.

For the record, forex providers operating in these markets must be certified by the relevant authorities. This includes BaFin, CNB, CONSOB, Portuguese CNMV, and Spanish CNMV. In any case, if you come across the Grow Pro Markets offer, please keep away from it.

Can I Withdraw My Deposit Bonus?

Typical for con artists is the provision of lucrative bonuses. Moreover, they use promotions to rope you into depositing. Actually, you can’t redeem or withdraw rewards. 

Also, dishonest scam brokers like Grow Pro Markets keep the right to alter the terms of bonuses as they, please. For this reason, bonuses are forbidden in many jurisdictions. Anyway, for fair conditions, select accredited brokers.

What Do We Know About Grow Pro Markets Account Types?

Regarding the types of trading accounts at this broker, information about that is obscure. In fact, its webpage does not reveal any relevant info. So, the minimum required deposit is unknown. 

But we are sure it is something against the industry norm, i.e., unreasonably pricey. At any rate, don’t pay attention to Gro Pro Markets and its bunch of lies. In contrast, for as little as 10 USD, you can start trading with some of the premium brokerage services. 

Free Demo Account

Opposite to live trading accounts, a demo account doesn’t involve costs and risks. It is used for practice, allowing traders to test platforms and conditions. 

Therefore, this option is a must-have nowadays. Even though broker reportedly enables a demo account, it is worthless with a trading scam. 

Negative Balance Protection

Speaking of negative balance protection, it is employed by legitimate brokerage firms to lessen the risk associated with trading. That means that traders can’t lose more money than they invest. 

Of course, this tool is not available at this broker; simply because it doesn’t align with the end goal. That is to say, this scammer doesn’t care about your financial well-being but wants to rip you off. 

About Leverage, Spreads, and Fees

Pay attention to the following. Fraudsters misrepresent their trading environments to entice clients. Furthermore, it is not rare to be ambiguous about the terms, such as in the case of this broker. 

Having said that, feel certain that its leverage ratio is pretty high while spreads are ultra-low. By doing so, this broker cooks up conditions to seem gainful. 

Indeed, leverage allows you to earn, but it is risky. Wherefore, the ratio is capped for retail traders in many jurisdictions (e.g., 1:30 in the EU/UK and 1:50 in the US/Canada).

High Minimum Deposit and Withdrawal Terms

As said, Grow Pro Markets doesn’t disclose its starting deposit. Given that, it creates room for its scam. In plain English, it can charge as much as it wants. 

On the subject of how you can make deposits, it is also unclear. Anyhow, Grow Pro Markets doesn’t support secure payment methods, but more about it in the next heading.             

Choice Of Payment Methods

Instead of credit and debit cards and bank transfers available at legit brokerage firms, scammers insist on crypto payments. 

In the same vein, Grow Pro Markets accepts only crypto wallets for funding. Generally, if it were a trustworthy company, it wouldn’t be a problem. Since it is pure fraud, this move raises a red flag. Why it is suspicious, read in the following section.

Scammed by Grow Pro Markets Broker? – Let Us Hear Your Story

If you wonder what to do in the aftermath of defraud, the most recommended is to act fast. The first step involves informing the relevant authorities. If you feel uncomfortable, you should not since anyone can be tricked. 

In any event, our company can assist you with reporting the scam. Additionally, sharing negative experiences on the internet will help others. As for getting your money back, it is doable; but the process depends on the means of payment.

But What Is A Chargeback?

While on the subject of retrieving funds, VISA and Mastercards refund money in full. But be aware of the 540-day due date. As well, Wire transfers can be reversed, yet only unless a transaction is approved. 

As already indicated, financial tricksters prod traders into depositing in digital currencies. It comes as no surprise because crypto wallets are anonymous and challenging to annul. Even so, our chargeback professionals can help you reverse any type of payment. For that reason, contact our company today. 

FAQs About Grow Pro Markets