Traderspros aims to portray itself as a provider of exceptional services, committed to ensuring traders peace of mind through robust broker support and expert advice. However, with this Traderspros review, the veracity of this claim will ultimately determine whether dealing with Traderspros brings peace of mind or leads to troublesome experiences.
Website – http://traderspros.com/
Website Availability – No
Address – Unit 1411, 14/Floor, Cosco Tower, 183 Queen’s Road Central, Sheung Wan, Hong Kong
Warning – Financial Conduct Authority (United Kingdom)
Rergulated – Unregulated, Blacklisted, Offshore
Domain Age –
|Date Registered||July 26, 2023|
|Domain Age||11 days, 14 hours, 1 minute, 41 seconds|
Traderspros Review: Regulation
Based on the available information on the website, it states that AND Corp Limited is the owner and claims to be registered in Hong Kong. However, upon verifying the Hong Kong Securities and Futures Commission (HKSFC) register, the company’s name does not appear to be listed there. This discrepancy is a clear indication that both the company and the website are not legitimate, posing a risk to your funds if you engage with this broker.
Adding to the concern, the Financial Conduct Authority (FCA), the official regulatory body for forex brokers in the UK, has issued a warning that this particular company is not authorized to offer any financial or investment services. These factors underscore the need for extreme caution when considering any dealings with this entity.
Traderspros Review: Trading platform
Throughout the broker’s website, there is no mention of the software it provides, and since we couldn’t create an account, we remain unaware of the platform it offers. However, given the clear signs of a potential scam, it is highly doubtful that they provide access to a reputable industry-standard trading platform like Metatrader 5.
Deposit and Withdrawal Methods
Traderspros trading accounts are not designed for individuals seeking to profit from a modest $100 investment. On the contrary, these accounts require substantial funds, starting with a minimum initial deposit of 5,000 EUR for the Basic account. The Advanced account demands a significant leap to 25,000 EUR, while the Expert account requires a substantial investment of 75,000 EUR. As for the Capital account, its deposit amount is customized and not explicitly disclosed.
When it comes to deposit and withdrawal methods, the broker allows payments via Bitcoin, credit card, and bank transfer. However, it’s essential to be aware that a withdrawal fee of 4% is applicable, which can result in a significant sum that the client has to bear.
TradersPros offers an excessively high leverage of up to 1:500, well beyond the limits imposed by the FCA and other regulatory bodies. This strategy appears to be aimed at attracting clients, taking advantage of the absence of sensible regulation and disregarding the safety of retail traders’ funds.
Upon observing the EUR/USD currency pair chart displayed in the top left corner, we can deduce from its bid/ask prices that the spread amounts to 3.1 pips. Such a widespread is concerning as it implies that the cost of transactions will be substantial, hindering traders from achieving sustainable profits.
Traderspros Review: Conclusion
Traderspros is an unregulated investment company that has been blacklisted. The company intentionally hides its actual geographical location, raising suspicions about its credibility. Moreover, the trading conditions offered by the company are far from desirable. Investors are strongly advised to exercise extreme caution when dealing with this questionable and potentially deceitful scheme.
In the unfortunate event that you become a victim of the Traderspros scam or any other fraudulent scheme, rest assured that help and resolution are within reach. By filling out a complaint form on our website, you will gain access to a free consultation with our dedicated team of experts. Our primary goal is to assist you in effectively addressing your situation and finding a viable solution to your predicament.