ProBinaryTradex Review – Who Is Behind ProBinaryTradex.com?
ProBinaryTradex domain is owned and operated by Grand Investing LTD. The company is regulated and registered in the Marshall Islands.
However, on the main page, we can find Probinarytradex Markets LTD. with reg. no. ECT-13-894516 as the operator of the site.
Both companies are offshore companies, and the trading is not regulated by the local financial authorities. Therefore, whoever the actual owner is, your funds are not safe.
|Company||Probinarytradex Markets LTD. Reg No.: ECT-13-894516|
|Bonuses||100% credit bonus and 30 % tradable bonus|
ProBinaryTradex Regulation and Funds Security
At first glance, the ProBinaryTradex site looks very attractive, including minimal deposit, favorable conditions, types of accounts, promotions, copy trading, and education.
On the other hand, the company is unregulated and based offshore, which is a reason for concern.
In the Terms and Conditions, it is stated that XtreamForex is a brokerage brand owned by Grand Investing LTD. Therefore, it seems they took over someone else’s legal documentation and forgot to change the name.
Shows quite a lack of professionalism and indicates that your funds won’t be handled appropriately either.
Supported Trading Platform at ProBinaryTradex
ProBinaryTradex uses the MetaTrader 4 (MT4) trading platform, a standard platform for this branch of the industry. This platform can be used on computers and also on mobile devices.
We found three versions of a trading platform: desktop one and two mobile variants for Android and iOS devices.
However, it seems that, in reality, none of these platforms is functional. Once we tried accessing it, we could not install the software or proceed with the account registration. Another red flag among many.
Deposit and Withdrawal Options at ProBinaryTradex
For the Micro account, the minimum deposit is $5, for Standard and ECN $250, for ECN Pro $5000, and for VIP $20000.
To deposit funds into the account, customers can choose:
- Wire Transfer
- Credit/Debit Card
Concerning withdrawal, it is not easy to withdraw money without some conditions stated in the company’s Terms and Conditions and paying fees.
For example, it is stated that the profit is withdrawable when the required volume is completed within 30 days of receiving the bonus. This required volume is ten standard lots, equal to $1 million.
ProBinaryTradex Offers Bonuses and Promotions
The ProBinaryTradex offers two types of bonuses – a credit bonus of 100% automatically after making a successful deposit and a tradable bonus of up to 30%.
To get the bonus, you need to deposit a certain minimum. For example, a credit bonus is $100, which is only applicable for Micro and Standard accounts.
A tradable bonus is from $500 when the bonus is 10% and up to $25000 when the bonus is 30%.
The commission is also provided for an introducing broker (a person who refers someone to the ProBinaryTradex), and it could be withdrawn daily.
How the Scam Is Carried Out
Considering that ProBinaryTradex doesn’t have an actual address and the company is registered in the Marshall Islands, it’s clear that it’s trying to stay anonymous. The phone provided on the site is a US number, which is another discrepancy.
Together with the fact that ProBinaryTradex’s founder is registered as an offshore company whose trading is unregulated by local financial authorities, there are hints of avoiding the brokerage.
Limited information concerning deposit and withdrawal on the main page and the need to read a lot of legal documents, along with no secure trading platform could be further evidence of an unscrupulous broker.
ProBinaryTradex is a subtle scammer whose business is not regulated under local law by the state of the foundation.
ProBinaryTradex’s founder is an offshore company, and its operations are not regulated by local financial authorities.
Concerning withdrawal issues, ProBinaryTradex, at first glance, has favorable rules, but there are a lot of hidden conditions. Since we’re talking about an offshore fraudster, it’s clear that your money is in danger.
Instead of trusting bogus websites opened with one intention only, to extort money, you could find a legitimate firm.
FAQs About ProBinaryTradex Broker
How Long Does it Take to Open a Live Account?
To open a live account, an easy procedure is offered. As soon as the form is filled out online, the customer will receive an email to verify it. After that, they must submit the necessary documentation and pay a deposit.
What Payment Methods Can I Use to Fund My Account?
To fund the account, one can use Wire Transfer, Bitcoins, Visa, Skrill, Neteller, or credit cards.
Do you Charge for Deposits or Withdrawals?
According to the broker’s website, there are no deposit or withdrawal fees. However, we would be cautious with this scammer.