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ProCapital Trade Review - is it scam or safe?

ProCapital Trade Review - is procapitaltrade.com scam or good forex broker?

RATING: 1 / 13 REVIEWS ProCapital Trade
ProCapital Trade is an offshore broker. Your money is not safe.

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Trading Accounts and Conditions

 

Trading account Min. deposit  Max. leverage  Average Spread
Standard  $250 1:200  2.4 pips, fixed
Classic  $2 500 1:200 4 pips, fixed or floating
Gold  $20 000 1:200 0.6 pips
Premium  $50 000 1:200 0.6 pips

 

ProCapital Trade is an offshore forex and CFD broker offers its clients a choice of four trading accounts, all of which provide solid leverage and access to the MetaTrader 4 platform. As you can probably guess by the low rating we gave ProCapital Trade, we don’t recommend this forex and CFD broker. Read on to decide for yourselves whether it’s worth investing with it.

 

 

ProCapital Trade Advantages

 

MT4 offered

In our view, the main benefit of dealing with ProCapital is the solid trading platform which they offer. For those of you who are not familiar with the forex trading industry, MetaTrader4 (MT4) is the leading solution. That is why most brokers support it, including reliable ones and others like ProCapital, which are quite shady. In other words, the availability of the MT4 by itself does not give the company any credibility. 

 

 

>> Top MT4 brokers <<

 

 

Solid leverage, an array of tradeable assets

Another possible benefit of using ProCapital Trade is the wide choice of forex pairs and various CFDs the broker offers, including a lot of cryptocurrencies.

The leverage of up to 1:200 this broker provides is also potential an advantage. Such levels will suffice the needs of most traders and are yet not dangerously high. Keep in mind, however, that leverage has a dark side, as it allows one to take bigger risks – something which isn’t always beneficial.

 

 

ProCapital Trade Disadvantages

 

Not licensed, regulatory warnings against it

The main and potentially disqualifying flaw of ProCapital Trade is the fact they are operated by an offshore company, West Media Group. This means that the broker is not licensed, nor overseen by any authority, which carries a significant risk for your investment. It also means that ProCapital Trade is not allowed to operate on any regulated market, such as the USA, European Union, Australia or Japan.

 

West Media Group limited also operates Platinums Trade, which was blacklisted by the Italian Financial Commission (CONSOB). It is also associated with 24BTCmarkets, against which there is a fresh warning issued by the Spanish financial regulator (CNMV). Obviously, all the brokers mentioned above have illegally targeted investors in the European Union.

 

It seems that West Media Group partners with other unregulated brokers like CapitalFXClub, FirstFXClub, FirstBTCfx, SmartProFX, WinCapitalPro, 360SmartFX, CapitalBTCfx, CryptoClubFX, SmartBTCfx, and more, which are also blacklisted by CONSOB. As we have reviewed the abovementioned brokers, we spotted that the websites of some of them are very much alike in terms of both lay-out and trading conditions. This inclines us to suspect that they are involved in some sort of serial scam scheme.

 

High trading costs

It seems that the cost of trading at ProCapital Trade ся Standard and Classic account holders are offered spreads of 2.4 pips on EUR/USD, which is by no means competitive in the current market situation. Most brokers offer spread within the range of 1.0 – 1.5 pips for this pair. F

 

Relatively high initial investment

In order to open an account with ProCapital Trade, one has to deposit at least 500 EUR or USD. This is a lot of money, especially having in mind that the broker is not actually regulated. Besides, a number of licensed and trustworthy brokers accept deposits as low as $100 or even less as minimum investment. 


 

Conclusion

 

ProCapital Trade is an unregulated forex and CFD broker with very low credibility, which we cannot reccomend.  The company behind it is blacklisted by CONSOB and most likely involved in a serial scam. Fraudsters who claim to offer forex trading are not as rare as you would imagine. This is why most countries have regulatory agencies, tasked with monitoring the industry.

 

The UK’s Financial Conduct Authority (FCA) is one such agency, which has a very good reputation. They oversee the financial markets sector and enforce a lot of rules upon forex brokerages. In terms of the security of your funds, two of them are essential – the segregation of client accounts and the compensation scheme, which covers each client’s account up to £50,000.
 

>> A list of forex brokers licensed by UK’s FCA <<

 

 

Here are, in a nutshell, the advantages and disadvantages of ProCapital Trade:

 

Pros Cons
Trading on the MT4 Not licensed, blacklisted by CONSOB
Wide range of CFDs, sufficient leverage Possibly part of a serial scam scheme
  High cost of trading
  Relatively initial deposit required

 

Latest news about ProCapital Trade
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Traders` reviews for ProCapital Trade

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

Xytrofix to transfer balance from Procapital direct into my account

ProCapital promised that they will teach me how to trade until I'm ready to trade on my own, they lied because after I funded my account, I received a very short time calls, for 4 days after that I experience very bad/ignorance service from Procapital people accessing my account without my consent.sometimes I would see the balance reflecting on platform sometime not I told them I want my money

I hope xytronfx will assist me getting my money as Oliver promised that his company is ligit and willing to teach ppl to trade fully. Looking forward to brighter future with Xytrofix

E Thembekile 07/19/2019

Urgente

Boa tarde, venho por este meio solicitar urgentemente a devolução do meu dinheiro 3000€ debitado pelo transaccion coin através do meu cartão de débito. Situação muito urgente. Obrigada.


Translated by Google:

Urgent
Good afternoon, I hereby hereby urgently request the return of my money 3000 € charged by the transaction coin through my debit card. Very urgent situation. Thanks.

Sara Sofia Brasão Cruz 05/30/2019

Scam

I funded 500us into my procapital account, they added extra 200usd as a bonus, but it is not working for me, so I decided to withdraw it, it's impossible to do that, I'm scammed, please assist to get back my money

Oetsi Motsoela 05/29/2019

Procapital traderoom

Well I've just spoken to a guy called victor about investing $500, after reading these comments, I have to agree with Shane Tyrell, Victor was very pushy and I felt a bit of a fool, his talk was quick and I couldn't keep up with him, my gut feeling was to back off, so I did, I said I would like to get more Info to be a bit more Savy on the subject, I'm glad I did, I was reading these posts while he was rabbiting on,
I've arranged a call back from Victor tomorrow 11am, I will have some Questions for him, also I'll ask why Procapitaltraderoom has negative comments and I will be happy to report back here, and let you know what was said.
On a personal note, I don't think I'll be investing with themselves.

Sean 05/27/2019

ProCapitalmarkets - withdrawal is not possible

ProCapitalMarkets are scammers. I was sadly convinced to invest 5000 USD, apparently it is now 15000 USD in 6 weeks time.
all I want back is what I put in. In order to do that I am told I must pay them 10000 USD as insurance, before they will let me have my original funds back.
Paul Morrison, Andrew miller, Brian Leroy, Peter and more names.
I did not have time to review them when I received the phone call. I was told 250USD is far to small to receive proper returns. I am also now told that 5000USD is a small amount. They apparently have bigger fish to fry.
They promised withdrawal is as easy as depositing. withdrawal is not at all possible

How can these people be reported.

Barbara du Toit 05/21/2019

Pro Capital Markets - 100% Frauds

These guys are obviously nothing but a bunch of frauds. I was 1 day late to discover that. First they'll insist on making you transfer 251$ to "your" account at their company. And then they'll congratulate you on earning some more money to make you feel comfortable, and that's without doing any trading. Next step will be taking a look at your bank account to check your balance but they'll claim that it's to check your credits and loans so they can start paying off your mortgage. The next step would be getting some personal information about you. The kind of information that would make anyone pretend it's you on the internet. Meanwhile an educational adviser will contact you for some sessions where you learn how to trade. Guess it's where you generate profits for them. You can actually buy and sell all you want but I don't expect receiving any money from that account to my bank account. And I believe that Pro Capital Markets is just a new name of an old company with bad reputation. Like Pro Capital Trades.

Hassan Ghaddar 05/16/2019

Portfolio manager shift his dates to pay out

Invest invest 15500 usd at procapital and they trade on management account on bitcoin my account grow now to 45648 dollars and portfolio manager shift his dates to pay out on this stage I don't know if I will see any if that money

Petrus Vanderberg 05/15/2019

Not trusted

Do not trust this broker name - Taylor Rickster and Riley. Both are scam. Especially Riley whom I find is very rude. They cheated me $70K. Used up my mortgage fund and took additional loan from my bank. Now they refuse to take my calls and reply my Whatapp. I jus want back my money. It hard earn money but scam from others unlike those 2 ladies.

Eunice lim 05/14/2019

investment

I have invested $9000 with Procapitalmarkets and they are not responding to my call

hassen bham 05/13/2019

$500

I was suckered into giving $500 for an automated trading system to withdraw funds have to hand over more idetails of credit card passport etc why do they need that as I already gave some credit card details etc help!!

Jy 05/10/2019

Scammed by procapital trade

I was scammed by procapital they promised me an automated software and they told me to deposit funds to activate it. After i deposited money it cant be withdrawn and their trading software is stucked. I warn people run away from this broke

Siphephelo majozi 05/06/2019

Many phone calls, not taking no for an answer

I suppose that when a broker so desperately tries to contact you and get you to give up all your privacy to him or her you should be warned. Most "real" brokers will make money the normal way and are not so pressed that they will push you by very persistent telephone calls. In my case I had several interactions with these, notably with a nice lady's voice who then handed me over to a rather unpolite person "Sebastian" who indeed was angry that I did not want to give my personal details, it appears on their style that they do listen in and work in group, and I think they are pretty clever. Later they tried twice more with more eloquent persons but finally accepted my "no". Given the information above, there are other companies who would be safer to trade with. Read "most companies". Possible ratings should include a 0 star option, which might be more appropriate here than 1 star.

Johan Fägerskiöld 05/05/2019

Scam

I signed into another online trader company, then got phone call after phone call wanting me to complete my registration, send copies of passports, driver licence, bankcard etc.
He identified himself as Victor said he was part of the broker I was suscribing to.
Victor uses a very mocking tone like you are a total fool, then rushes me into putting money the ?? trading account. Victor Where ever you are enjoy my US$500. I have to take my wife for an operation next week, I don't know how things will go. "Victor enjoys his life in London and I hope Karma gets him.

Shane Tyrrell 04/30/2019
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