Countless people are interested in trading in the financial markets, but are hesitant to do so because they don’t want to get scammed. There is no doubt that online trading is extremely convenient and offers you a lot of benefits, but it is also well-known that there are scam and fraud brokers operating in the markets and can steal your money and your sensitive data as well. This can often be a turn off for many and scare them away. But, rather than letting them drive you away from exploring profitable opportunities, you can do some due diligence. This includes checking out the following Probinarytradex review.
Just because other people have been scammed does not mean you will be too. As long as you are careful and focus on finding a dependable broker, you will be able to avoid this trap. But, how do you do that? Every other company you come across is promising you the ultimate trading experience and it can be extremely easy to believe their promises because of the professional illusion they have created. This is where you have to be skeptical of everything until you confirm it.
This means paying no heed to what the broker is claiming and checking up on everything they promise. The same approach should be used in the case of Probinarytradex because you will find it also offering you a good trading experience. It claims to be a legitimate and dependable broker for all traders and as intriguing as it may appear, you should not let your guard down. After all, this is exactly what scammers want to do and what you need to resist. Checking out this review can help you figure out if Probinarytradex is a dependable broker or not. Ready to see? Let’s get started:
Operating from an offshore scam haven
Looking into the background of a brokerage is how you begin your research because this can help you determine if you are dealing with an authentic company or not. This means checking their corporate background as well as location because it can help you assess their regulatory and licensing status as well. You will be disappointed with Probinarytradex in this regard because it says to be owned and operated by a company named GRAND INVESTING LTD.
This company is based in the Marshall Islands, which is an offshore jurisdiction. The problem with an offshore zone is that the local financial authorities there do not oversee the forex industry, which means anyone can set up a company and not have to worry about accountability. They don’t have to follow any laws and rules and can up and disappear without any problems. Hence, it means that Probinarytradex is not a licensed and regulated brokerage.
You will definitely not be offered any protections if you go with Probinarytradex and it gets worse. If you check the company that claims to own and operate the brokerage i.e. GRAND INVESTING LTD, you will find that it operates yet another broker by the name of Metaexness. Both the brokerages appear to have the same landing pages and even the content has been copied with only the names changed. This shows that Probinarytradex could actually be part of a serial scam, which is quite common amongst scammers.
Malicious legal documentation
When you are checking out a brokerage, going through their legal documentation is a must. After all, this dictates the terms and conditions of the relationship you will have. This means you will find out the kind of fees and costs you will incur during the course of trading as well as the policies you will be expected to comply with. It is essentially the contract between you and the company so going through it is a must and it does pay off in the case of Probinarytradex. How?
This is because the legal documentation reveals that Probinarytradex is offering its client trading bonuses. Shouldn’t that be an advantage? It should not be considered a benefit because the practice of trading bonuses has been banned by most regulatory authorities in the financial markets, as they come with malicious conditions. This is evident in the bonus policy of this broker as well.
To put it simply, the bonus policy at Probinarytradex dictates that if you make a withdrawal from your account after getting a bonus, then they will remove the bonus. The more you withdraw, the more will be removed from your account. The basic aim of the scam is to ensure that you don’t make a withdrawal if you want to keep your bonus, which means they can take your money. This is unethical and exactly the reason why this practice was forbidden in the first place.
Lack of actual trading
Another problem you will encounter with Probinarytradex is that it does not appear to be a CFD trader at all. Yes, it advertises itself as one and is even offering the MetaTrader 4 platform, but there is no sign of it when you anywhere. There is no software available for doing any actual trading and all you find is a webpage that helps you track your money and offers a pointless chart you can stare at.
From the looks of it, this is an investment scam where you will be asked to make deposits to Probinarytradex and they will promise to make you profits on them. This itself is a conflict of interest because no legitimate brokerage would ever make profits for their clients, as this would mean losses for them.
Only crypto deposits allowed
A look at the payment methods at Probinarytradex show that they only allow crypto deposits, which is a problem because these deposits are final. You cannot file for a chargeback, as in the case of credit cards, which means your money will be lost in case of a problem. Plus, crypto transactions also tend to be anonymous, which favor scammers.
What is the Verdict?
There is no way that Probinarytradex is a dependable brokerage because it is lying and misleading its clients and should be avoided.