Prolive Markets Review
If you have been looking for a broker to trade in the financial markets, it is not surprising that you have ended up at this Prolive Markets review. This is one of the companies that are offering their services amongst the sea of brokers. The sheer number of platforms that exist can make the task of choosing one to be very daunting. Most people don’t know what to do and what to look for, so they often select a random company. However, you have to bear in mind that this could be a recipe for disaster. Why?
It is primarily because the lucrative nature of the financial markets has also made it is a hotspot for scams and frauds. You will have no trouble in finding stories of people who have suffered due to them and ended up quitting their trading journey altogether. Of course, you don’t want to do so, which means you have to be thorough in your research and make a well-informed decision. You cannot just believe what a company is telling you; draw your own conclusions after evaluation and research.
This is of the utmost importance because not only is it easy to set up a fraudulent and scam website, but these criminals have also gotten better at hiding their reality. Their offerings are such that most people are unable to resist them and have to learn their truth the hard way. No one wants to have to suffer from monetary losses, or have their data stolen; the consequences are too dire. Evaluating and researching can ensure you don’t have to and this is where Prolive Markets review comes in. This brokerage, which is also referred to as Prolive Invest, is presented as a successful online investment and trading platform.
It caters to traders who are interested in the stock, forex and the cryptocurrency market and Prolive Markets is considered a global leader when it comes to online trading. This is because of low spreads, high leverage, fast execution and professional support. This does sound fantastic, only if it were true. The reality is drastically different and you can find out below:
The first problem that you spot with Prolive Markets is that the brokerage doesn’t appear to be licensed. Its website shows a contact address in London, United Kingdom, but in order to operate there, they have to have a license from the Financial Conduct Authority (FCA). This is the regulatory authority in the UK and licenses all brokerages, but a check of its online register shows that Prolive Markets is not listed. This means that it is operating illegally, if it is really based there.
Apart from that, you will not find any mention of the company that owns and operates Prolive Markets. But, when you try and register a trading account on the platform, it will transfer you to a completely different domain address i.e. linkinvest.pro. In addition, you will notice that the Terms & Conditions presented to you belong to a company named Fort Securities BLR LLC, which is located in Belarus. Yet, the Prolive Markets’ website doesn’t have a company name.
Regardless of the story, one thing is obvious; the company is not an authentic one due to the conflicting information you find.
When you check out the Prolive Markets’ website and visit the funding accounts section, you will find the option of downloading remote desktop applications, such as TeamViewer and AnyDesk. These applications are typically provided to traders to help them in accessing their personal files and home PC environment from anywhere.
The problem with Prolive Markets is that they don’t just ask you to download these applications; they ask their clients to share their installation details under some pretext. Doing so will provide the scammers with instant access to your PC and all data stored in it, which includes your online banking passwords and credit card numbers. Hence, they will be able to steal your funds.
If you need additional proof about Prolive Markets being a scam, then you can just notice the discrepancies they have. At one point in their presentation, the broker claims that clients have to deposit a minimum of $250 for opening their account. Elsewhere, they have also mentioned a minimum of $300 deposit. So, which one is correct?
The same is applicable to the account types on the Prolive Markets’ website. You will notice that they have two completely different sets of account options. There are Basic, Bronze, Silver, Gold and Platinum accounts and the next set comprises of Basic, Premium and VIP options. These discrepancies are a common occurrence where scam brokers are concerned.
According to the claims Prolive Markets has made on its website, it offers traders the MetaTrader4 (MT4) trading platform. Anyone even remotely familiar with the financial markets is aware that it is one of the top trading solutions, so it is definitely a good thing. The problem is that the reality turns out to be the opposite. Instead of the MT4, a web based platform is provided to traders and this platform is also branded as Link Invest, much like the domain address mentioned earlier. This only adds to the confusion and confirms that there is something fishy going on.
Lack of payment options
You need to check what payment options are provided by a broker before signing up and this is another area where Prolive Markets is misleading its clients. As per their presentation, they support VISA and MasterCard for payment purposes. This would be reassuring as these cards are eligible for a chargeback, which means you will be able to get your money back if you have a problem. But, the only payment option that the brokerage really offers is that of bitcoins. Cryptocurrencies are known for their anonymity, which means you don’t know where your money is going and the transaction is final, so you will not see your money again if you are scammed.
If you are wondering what to make of Prolive Markets, you should now understand that it is a fraudulent broker that cannot be trusted.