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Pro X Finance Review - is it scam or safe?

Pro X Finance Review - is proxfinance.com scam or good forex broker?

RATING: 1 / 0 REVIEWS Pro X Finance
Pro X Finance is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


Trading Accounts and Conditions

 

Trading account Min. deposit  Leverage  Spread
Standard  $250 N/A 3.6 pips 

 

Pro X Finance offers all-in-one platform for trading in in forex and binary options (Fixed return options or FROs, as they call it). The broker does not hold a license for providing any such financial intermediation services, which is why we would not recommend it. You may find all essential information on Pro X Finance in our detailed review below.

 

 

Pro X Finance Advantages

 

Solid choice of trading instruments, including cryptocurrencies

Pro X Finance offers trading in wide range of currency pairs, precious metals (silver & Gold), as well as some of the most popular cryptocurrencies. The latter group includes Bitcoin, Ethereum, Ripple, Litecoin, Dash, Bitcoin Cash, and more.

 

As Pro X Finance is not a reliable brokerage, we would advise you to select a company from the below list, if you are into cryptocurrencies.

 

 

>> Trade Bitcoin with a regulated forex broker <<

 

 

Pro X Finance Disadvantages

 

No license, registered offshore

Pro X Finance is trading name of Finovative Technologies Limited, a company registered on the Marshall Islands. These islands are an offshore zone with lax taxes and non-existent financial regulation for forex and binary options brokers.

Such a lack of regulation means that Pro X Finance is not obliged to follow any rules, nor is overseen by any financial authority, which means that potential clients of the brokerage may be open to substantial risk.

 

Blacklisted by UK’s FCA

Another red flag regarding Pro X Finance is that the broker was blacklisted by the UK’s Financial Conduct Authority. FCA’s official warning reads that this entity is carrying on regulated activities without authorisation or exemption. The UK financial watchdog further clarified that Pro X Finance is targeting people around the world but primarily in Germany, France, Spain and Italy.

 

 

Click on the image to zoom in.

 

Being blacklisted is a clear-cut sign of trouble, as probably the FCA has received complaints and alerts from investors regarding this broker. 

 

Trading conditions not that good

We tested Pro X Finance’s platform and it seems that the broker’s trading conditions are not that attractive.

 

 

 

Click on the image to zoom in.

 

Binary options payouts reach 80%, while the benchmark EUR/USD spread on forex trades is higher than 3 pips.

 

MetaTrader not supported

Instead of the highly valued MetaTrader 4 (MT4), Pro X Finance offers its services via a simple web-based platform, where its clients can trade both forex and binary options. This trading interface is simple and intuitive, yet devoid of technical analysis indicators, as well as other advanced functionalities, such as Expert Advisors, for example.



>> Choose a MT4 broker instead <<

 

 

Conclusion

 

The offer of Pro X Finance might seem catchy to some inexperienced traders, but we would not recommend investing with this broker. This offshore forex and binary options provider is not under the oversight of any financial regulator, and furthermore, the UK`s FCA has put out a warning against it.

 

Considering that most offshore brokers turn out to be con-artists, we urge traders to exclude such risk by only dealing with companies licensed by reputable financial agencies, such as the FCA in the UK or CySEC in Cyprus. These authorities require compliance with a number of strict rules that give significant assurance for the security of the clients funds.

 


>> A list of forex brokers regulated in the UK <<

 

 

To sun up our recap on Pro X Finance:

 

Pros Cons
Solid choice of trading instruments, including cryptos An offshore broker
  Blacklisted by the FCA
  Trading conditions not so good
  No MetaTrader

 

Latest news about Pro X Finance
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Traders` reviews for Pro X Finance

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