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ProCapitalMarkets Review - is it scam or safe?

ProCapitalMarkets review - Is procapitalmarkets.com scam or good forex broker?

RATING: 1 / 4 REVIEWS ProCapitalMarkets
ProCapitalMarkets is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


ProCapitalMarkets is an offshore broker, based on St. Vincent and the Grenadines, which offers forex pairs and CFDs on various asset classes with generous leverage and a web based trading platform. Unfortunately the broker is not licensed and that is a major issue, which we will discuss in detail in the following review.

 

Trading account  Min. deposit Max. leverage Spread

Standard Account

n/a over 1:200 n/a

 

ProCapitalMarkets Advantages:

 

Maximum leverage over 1:200

 

Honestly it was not an easy task to come up with any positive aspects about ProCapitalMarkets, because we were not able to open a demo account and check their trading conditions first hand, while the information in their presentation was rather scarce. 

 

Still  they say to be offering leverage higher then 1:200 and that is more then enough to accommodate even the most aggressive trading strategy. And besides, since higher leverage trading was restricted in Europe, and on other regulated markets like the US as well, your best option to trade with higher leverage is to open an account with a broker, regulated in Australia – the last major market, where there are no restrictions as yet. Here you may check our list of brokers regulated by the Australian Securities and Investments Commission (ASIC):

 

>>Brokers regulated in Australia<<

 

Various asset classes available

 

Apart from the currency pairs ProCapitalMarkets says they offer CFDs on commodities, indices, stocks and crypto currencies. But if you are really tempted by the idea to trade crypto assets, here you may also check our list of brokers offering bitcoin CFDs as well:

 

>>Bitcoin Forex Brokers<<

 

ProCapitalMarkets Advantages:

 

No license

 

ProCapitalMarkets is owned and operated by ProCapitalMarkets Ltd  - a company registered in ST. Vincent and the Grenadines. As we already noted they are not regulated and that is unfortunate, because our experience shows that most brokers operating without a license are involved in scam.

 

The basic problem with all unregulated brokers is that they are completely unaccountable for the way they handle your money.

 

Legit brokers, licensed by such respectable financial watchdogs like the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities Exchange Commission (CySEC) or the Australian Securities and Investments Commission (ASIC) on the other hand are completely reliable because of the strict regulatory oversight they are subject to.

 

And with some regulators like the FCA for example, you even get an insurance on your account. The money come form a special client compensation fund and are payable to customers in case the broker happens to be insolvent. 

 

With a FCA broker your account will be covered for up to 85 000 GBP, which is a solid amount, so here you may check our list of FCA regulated brokers:

 

>>FCA Regulated Forex Brokers<<

 

Trading bonuses with additional withdraw conditions

 

Bear in mind that no legit broker will offer you a trading bonus or a promotion for one single reason – the practice was banned in Europe and on most other regulated markets because it is unfair to traders. 

 

All trading bonuses always come with additional withdraw conditions – in the case of ProCapitalMarkets a minimum trade volume requirement equal to half of the bonus amount in trading lots. So for example if you receive 200 USD as a trading bonus you will not be able to withdraw until you trade at least 10 million USD. Obviously that might prove challenging even for professional traders.

 

Unusual commissions and fees

 

Every three months ProCapitalMarkets charges its clients 100 USD account maintenance fee plus execution venue fees, as well as clearing and settlement fees, which are not specified in their presentation. On top of that there are commissions for deposits and withdraws , which ProCapitalMarkets says they may amend from time to time, plus a fixed commission in the amount of USD 30 for every withdrawal request. See for yourself:

 

 

No information about the payment methods

 

Usually brokers accept payments with major cards like VISA and MasterCard, bank wire and e-wallets including PayPal, Skrill and Neteller. And some broker even accept crypto coins, so here you may also check our list of brokers where you will be able to pay with bitcoins:

 

No information about the minimum deposit requirement

 

Most brokers require a minimum deposit of about 250 USD, but some big players like FBS and IG do not have such a requirement and basically there you will be able to trade with virtually any amount.

 

MetaTrader4 not available

 

This is another disadvantage. MetaTrader4 is supported by most brokers and is preferred by most traders. The platform is reliable, with an user friendly interface and many features as for example the option to run automated trading sessions, with the help of specially designed customizable trading robots and market indicators. Here you may check our list of broker, which also support the MT4 platform:

 

>>MT4 Brokers<<

 

Conclusion:

 

ProCapitalMarkets is not a broker we can recommend. They are not licensed to offer financial services on regulated markets like the US, Australia, the EU, Canada or Japan and on top of that their offer comes with a series of rather unusual fees, commissions and additional withdraw conditions. So our best advise is to trade only with brokers, regulated by reliable institutions, such as FCA in the UK, CySEC in Cyprus and ASIC in Australia.

Latest news about ProCapitalMarkets
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Traders` reviews for ProCapitalMarkets

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Pro Capital Markets is 100% Scam

Pro capital Markets is totally scam, please if someone doesn't know about online scam, please avoid this trading platform they are professional fraudster...Once you deposited money 500U$ there is difficulty to get your money back..

Eris Reyes 06/13/2019

They get in to my bank account and move from my safeaccount

Look up and dont give out enny penny. This is fake and unsecure trade. Under The Times you speake to them in telefon they going in to you bank and tryck to suck Evert penny you have. Never log in to bankid when you speake to them. Police hunting them around The World. Bad bad People.

Richard johnson 06/04/2019

Withdraw

i have problems to withdraw the money can somebody help me?

Michael 05/31/2019

Invest by Procapitalmarkets

I have invested € 10,000.- in BitCoins at Procapitalmarkets.com. After only one month I should have 27.815.-US Dollar in my account. In order to get a payout, I would have to pay half, that is 13,907.- US dollars, to a Handeslkonto. If I pay that, maybe my 10,000 and the 13,000 will be lost

Renner Josef 05/29/2019
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