fxprotrade
We checked fxprotrade against the AskCheck register. It has been reported (2022) and carries the red flags below. Treat it with extreme caution.
Why it’s flagged
What we found
fxprotrade claims it is a group that is authorized and regulated by multiple regulators across the globe, including: International Capital Markets Pty Ltd, regulated by the Australian Securities and Investments Commission (ASIC) with license number: 742853. fxprotrade (EU) Ltd is, regulated by the Cyprus Securities and Exchange Commission (CySEC) with the license: 443/16. fxprotrade Ltd, regulated by the Securities Commission of The Bahamas (SCB) with the license: PIA-F429. However, we did not find any match results to fxprotrade in the above three watchdogs' registries. What's more, fxprotrade also claims to be a trading name of Raw Trading Ltd, a company that holds a securities dealer license issued by the Seychelles Financial Services Authority (Seychelles FSA). We indeed find a match result to Raw Trading Ltd in Seychelles FSA. But as per the regulatory details shown on FSA, the only approved domain of this firm is " instead of the one used by fxprotrade. The truth is that fxprotrade is a clone firm that falsely uses the regulatory info of a regulated firm. fxprotrade is not overseen by any regulators. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.
Assessment source: FastBull BrokersView.
What to do next
- Stop sending money. Don’t make another deposit, pay a “tax” or “release fee”, or share remote-access to your device.
- Gather your evidence. Save statements, chat logs, transaction IDs and the wallet addresses you paid to.
- Report it to your regulator and to local police / action-fraud line so it’s on the official record.
- Add your report here so the next person searching this name is warned — report fxprotrade.
- Verify on the register. Cross-check the full entry on the SentFunds register before you trust anyone offering to help.