Protrade
We checked Protrade 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
Protrade claims to be a reliable firm while presenting neither details about its regulations nor legal documents (terms & conditions, risk disclosure, and privacy policy, etc.). Lacking such information may be a distinct characteristic of unlicensed brokers, as legit brokers always present their accreditation and licenses in a prominent position. It is a red flag here. Besides, Protrade shows its company address is in Switzerland. However, we did not find any match results to this broker in the Swiss Financial Market Supervisory Authority (FINMA). On Mar 13, 2023, BrokersView found the domain "protrade.fm" is for sale, as most probably it was suspended and it is always a bad sign that broker's website is suspended. The truth is, Protrade is not under valid regulation by any regulators to do forex. 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 Protrade.
- Verify on the register. Cross-check the full entry on the SentFunds register before you trust anyone offering to help.