FundsProMax is Online trading and become quite popular nowadays, providing ample opportunities for earnings, but it also involves considerable risks for all involved due to the rising number of scam brokers.
Spotting a shady brokerage service might be a challenging task for newbies. However, with expert advice, it’s less troublesome. Therefore, in our mission to expose fraud, this review analyzes FundsProMax another investment scam.
The broker claims to be a Swiss-based online trading company that can take care of both professional and inexperienced investors, providing expertise, top-notch trading platforms, and excellent customer support.
However, it just sings its praise in practice, that’s quite the opposite. Please read our full FundsProMax review to find out why.
|[email protected], [email protected]|
|Minimum Deposit||$500 USD|
|Bonuses||30% to 150% welcome bonus|
FundsProMax: Licensing and Regulation
It operates anonymously and unregulated. Since it says that its HQ is allegedly in Switzerland, it should be approved by the Swiss Financial Market Supervisory Authority (FINMA), which it isn’t.
Despite FundsProMax’s statement of reportedly being licensed by the Cyprus Securities and Exchange Commission (CySEC), it isn’t, nor has it any permit. Running a trading business without authorization per se is illegal.
Further, FundsProMax is exposed as a fraudulent broker by the Belgian Financial Services and Markets Authority (FSMA). As this financial swindler portrays itself as a Europe-based company, it must comply with EU laws.
Namely, the ESMA (European Securities and Markets Authority) prohibits bonuses and has restricted leverage to 1:30 max. However, FundsProMax offers welcome bonuses.
As for its leverage, it’s not clarified on its website (despite it must be explained to customers). Since it’s a con artist, you can expect unrealistic and high-risk leverage (e.g., 1:100 and higher), which indicates a hoax.
In addition, FundsProMax’s website consists of lots of inconsistencies. For example, its declaration that it’s a Swiss-based business adhering to Spanish law makes no sense and raises suspicions about its business.
Therefore, never trade with a randomly selected forex provider unless you’re 100% certain that financial market regulators govern the provider.
A good rule of thumb is double-checking a company’s jurisdiction even if it claims it’s a legitimate business.
In addition, we spared you trouble by compiling a list of the most profitable, secured, and reputable trading agencies (read below).
Trading Software at FundsProMax
When it comes to trading software, everyone who has tried online trading knows that MetaTrader4 (MT4) and MetaTrader5 (MT5) are the most widespread platforms on the market.
It’s not surprising since their reliability and valuable features allow profitable and safe trading. For instance, MT5 enables copy trading, where less experienced traders can copy and monitor successful, advanced investors and gain profits.
Concerning FundsProMax, it provides an unproven and poor internet-based trading platform without any helpful tool. It uses its manipulative trading software to commit financial crimes.
Instead of relying on this unscrupulous broker and risking your investment, you should always pick a legit brokerage company.
Methods of Deposit and Withdrawal with FundsProMax
FundsProMax offers different payment methods for deposits and withdrawals, including credit/debit cards (Carte Bleue, Visa, Maestro, and Mastercard), wire transfers, and PayPal.
The lowest withdrawal amount is $100. It’s a bit relieving since, with Visa and Mastercard, defrauded customers can apply for a chargeback.
Regarding deposits, FundsProMax requires a minimum of $500 for the opening balance. Further, the following live accounts are available with FundsProMax.
- Explorer: $500 minimum required deposit, 30% welcome bonus.
- Basic: $2K min required deposit, 50% welcome bonus.
- Silver: $10K min required deposit, 75% welcome bonus.
- Gold: $25K min required deposit, 100% welcome bonus.
- Platinum: $100K min required deposit, 150% welcome bonus.
These prices are too much and far above industry standards. As mentioned earlier, bonuses and promotions are banned in Europe.
Further, there is no demo account option with FundsProMax, which legitimate brokerage services provide and allow clients to practice trading without risks and costs. So, more reasons for avoiding FundsProMax.
This is How They Execute the Scam
The scam operates by deceiving people, pretending it’s a legit broker offering “profitable investing opportunities,” but it just wants to take advantage of those interested in trading.
Scammers lure victims into their sophisticated schemes by exploiting social media and the internet, publishing fake advertisements, and stealing people’s contact information.
Once they draw your attention and entice you to click on the spam, soon after, “experts” will contact you with a lucrative, time-limited proposal tailored just for you.
Even if you decline, they will be persistent, making repeated phone calls and emails. Each proposition will sound more urgent and gainful than the previous one.
After they persuade you to invest in a once-in-a-life opportunity, you’ll never see your money again. Moreover, they will try to seize as much money as possible.
If you ask for a withdrawal, they will always make excuses for not allowing it without compulsory fees. It’s a vicious circle, and you’re constantly at a loss with scammers.
Forex Brokers that are Highly Recommended
Genuine trading corporations are strictly regulated businesses, caring for their clients by ensuring favorable trading conditions and the safety of funds.
The following brokers are licensed by top-tier financial authorities and hence most recommended to everyone looking for the best trading experience.
|FXTM Broker||Cyprus, UK, Mauritius, Kenya||4.5||$10 USD||Forextime.Com|
|OctaFX Broker||St. Vincent and the Grenadines, Cyprus||4.4||$100 USD||OctaFX.Com|
|FP Markets Broker||Australia, Cyprus, SVG||4.7||$100 AUD||FPMarkets.Com|
|XM Broker||Cyprus, Australia, Belize, United Arab Emirates||4.7||$5 USD||XM.Com|
|HFM HF Markets Broker||Saint Vincent and the Grenadines, Cyprus, South Africa||4.3||$5 USD||HFM.Com|
|FBS Broker||Cyprus, Australia, Belize||4.85||$1 USD||FBS.Com|
Final points of FundsProMax broker review, this illegal company falsely claims it’s a valid brokerage firm. It works unlicensed and anonymously, violating the regulations of the stock trading industry. Thereby, we can assert that it’s nothing but a scam.
Besides, FundsProMax overcharges for its inept brokerage services that rely on an inferior trading program, lack of educational materials, and lack of funds protection.
If you ever come across a FundsProMax offer, for safety’s sake, you better pass it up.
FAQs About FundsProMax Broker
What Payment Options Does FundsProMax Accept?
FundsProMax accepts credit/debit cards, wire transfers, and PayPal for deposits and withdrawals.
Is Leverage Available at FundsProMax?
Details on spread and leverage provided by FoundsProMax aren’t publicly disclosed. Since it’s a scam broker, we assume they’re unrealistic and unfavorable.
Trading Platforms Does FundsProMax Provide?
FundsProMax doesn’t utilize industry standard trading platforms as most legitimate companies do, nor offer a mobile trading app.