TradeProCapitals review – 5 things you should know about Tradeprocapitals.com

TradeProCapitals review – 5 things you should know about Tradeprocapitals.com

Rating: 1.2

Beware! TradeProCapitals is an offshore broker! Your investment may be at risk.

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TradeProCapitals is a CFD brokerage based in Saint Vincent and the Grenadines. It provides the MT4 trading platform and a spread of just 1 pip on EUR/USD which is quite below the industry average of a pip and a half and in favor for the traders. Clients are extended a generous leverage of up to 1:500 and the required minimum deposit is $10 which is quite below the industry average and in favor for the traders in our view.

TradeProCapitals regulation & safety of funds

According to the website of the brokerage TradeProCapitals is owned and operated by the company Tradepro Capital Markets Limited which is based in Saint Vincent and the Grenadines. Here is a screenshot:

Even though we see an UK address on the website the brokerage is registered offshore and not subject to any regulatory oversight because the government of SVG has multiple times publicly stated it does not oversee online Forex trading. We can thus safely conclude that TradeProCapital does not fall under any regulatory oversight whatsoever. The lack of regulation is quite troubling because there is no guarantee of the legitimacy of the brokerage besides the word of the brokerage itself, which, when money is involved, hardly suffices. Furthermore, there is not authority to turn to in case clients fall victim to a scam. However, the brokerage does inform us about its trading conditions and it provides the MetaTrader 4 platform.

The MetaTrader 4 trading terminal is the foremost trading platform at the moment and preferred by more than 80 percent of traders in the Forex world. Through a demo account we could see a spread of just 1 pip on EUR/USD which is below the industry average of 1.5 pips and certainly an advantage. Furthermore, clients are extended a generous leverage of 1:500. Furthermore, there is an impressive selection of 36 different CFDs on currency pairs, as well as a very low minimum deposit of just $10. Usually brokerages require at least $250 which means that with TradeProCapital you needn’t risk much in order to start trading. However, the lack of regulation and the offshore location inclines us to believe that potential clients may be open to substantial risk.

We urge traders to exclude such risk in trading by only associating with brokers regulated by prestigious regulatory agencies, such as the FCA and CySec, which require compliance with a number of strict rules that give significant assurance for the security of the clients funds.

The segregation of accounts is among the rules which are especially important in the trading world, because it drastically lowers the risk of possible commingling.

Another is the participation in a compensatory scheme by which the client’s losses will be covered in the unlikely case the broker goes bankrupt or attempts to swindle traders.

TradeProCapitals deposit/withdrawal methods and fees

Potential clients of the brokerage may deposit or withdraw only via credit card and bank transfer, popular e-wallets such as Neteller, WebMoney, Perfect MoneyPayPal, Skrill are not supported.

Reading the terms and conditions we couldn’t notice any nasty withdrawal conditions, however, this should not be viewed as a guarantee.  TradeProCapitals may always decide to come up with some unexpected fees once the clients has invested funds. Furthermore, the website opens up with a $500 bonus promotion, however, we must warn traders that more often than not such promotions are tied with a turnover requirement which makes it practically impossible to withdraw your winnings afterwards.

This is why we advise traders to always put up only the required minimum deposit, instead of risking a bigger amount with no certainty. Afterwards, they may also try to withdraw a small amount in order to check for any unexpected fees or delays. Such fees and delays are usually the signs of a scammer.

How does the scam work?

Even though the forex trading world is extremely large and encompasses millions of people around the globe, the most common scamming is pretty simple and straightforward and as such – it’s not particularly daring to avoid. Here is a quick overview of how it is done:

Through clicking an ad with promises for fast money, you will be redirected to a website such as Bitcoin Evolution or Cashless PayGroup where registration will require you to give your address, email and phone number. After sharing your personal information, you will being receiving calls from brokers, compelling you to invest with them and win big. After a few minutes hearing their pitches, you decide to deposit some $200-250. And just like that – the scammers take a fat commission from this initial deposit.

After they are done with you, senior scammers begin working you into putting even more money. They say it’s the only way to profit from trading even more. After making the mistake of investing even further, you’ll begin wanting to get out of this and withdraw what you have left.

Unfortunately, the con-artists have no such thing in mind. They will now begin persuading you to wait it out and not withdraw right now. The angle here is pretty blunt – traders have a limited time period for filing a chargeback with their bank and get their money back. The “recovery department” will simply want to mislead you into missing thе crucial period and, along the way, losing any chance you might have of getting the money back.

It is important here to take notice that both Visa and MasterCard are taking measures to combat unregulated forex brokerages by classifying all forex transactions as high risk. And with the case WigMarkets – they are correct in doing so. Furthermore, supporting their intention with clear actions – MasterCard has increased the previous time period of six months for filing a chargeback to a year and a half. Visa is expected to do the same in December.

What to do when scammed?

As was mentioned above, scamming is quite the common in the trading world and, sadly, even you might suffer from it. In such an unfortunate case there still may be some available options for you.

You may contact your bank or credit card provider and file a chargeback. 

If, however, you have provided the broker with your credit card details, immediately cancel your credit card.

If you have given information regarding your online banking pass – you should switch it asap!

Beware of potential calls from self-described “recovery agencies”! They prey on scammed and vulnerable traders who are desperate to recover their losses. They will require an “up-front” payment to help you, but after paying them, no such help will be coming your way!

 

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12 Comments

  1. Scammers , They both Scammed Millions in Continue FX and now TradeProcapitals.com
    Now they Running this SCAM and Looting Indian and worldwide … My continue Fx i lost 2000$ my account no – 2075718……………………………………………..
    Their Profile – https://www.facebook.com/profile.php?id=100029204028998
    https://www.facebook.com/tradersaurabhjoshi

    Facebook page of tradeprocapitals.com scam page – https://www.facebook.com/jyotisaurabhjoshi/?view_public_for=2230511700530443

    1. Scammers, sourav and Jyoti they both r scammers. They invested my money 1300$ in TradeProcapitals.com and blocked me in Facebook and can’t rely any message. Be careful from this guy’s. Yes Rahul they both r scammers…

  2. Heloo friends don’t invest in tradeptocapital.com
    That Boy saurabh and girl jyoti both scammer.
    I lost 900$
    Scam scam

  3. Hi, my bro invested 4500$ with them and made profit of 3000$ in acc. On asking withdrawal, they blocked him. Fucking cheaters, Jyoti asked him to shift his account from Conitinufx to Tradepro and forwarded number to her boyfriend Saurabh. I think he is from some indian trading broker. He talks big about 1000s of crores. They r biggest upcoming scammers. Jyoti must have been shifting all Continuefx clients to this scam house. All watch out.

    Do not invest with them
    Watch out

  4. i got a mail from [email protected]
    wanted to invest 500$ ,but Found out in google its a SCAM thanks guys.. For updating it here
    even i had a small research its true the website is NOT regulated and facebook profile of Jyothi seems to be fake and indian girl, as per my knowledge forex is Illegal in india. Be carefull Guys never know when trouble comes in

    Regards
    SEan

  5. TRADEPROCAPITALS.COM REVIEW SCAM

    TRADEPROCAPITALS.COM SCAM by owner SAURABH JOSHI AND JYOTI
    Guys, watch out. This person CALLED SAURABH JFX is from Indian Share Market, making fool of people by using his knowledge. He already has 2 pending court cases against him. He was thrown out of the Share Company as he had given misleading assurances to the investors. DON’T KNOW WHO THE HELL IS JYOTI. MAYBE HIS PARTNER / ASSISTANT/ WIFE. GOD KNOWS. I HAD CHATTED WITH HER, SHE FLIRTS WITH YOU TO MAKE YOU INVEST. NOT LESS THAN A SLUT.
    I checked the complete background of the company and website. No payment gateway is there. one fake bank account in which they are taking money from people and showing profit initially and then suddenly full account is gone. even before u withdraw your money, they will make it 0.
    it is a grey label of tradeproservices which has also previously scammed, if you search thoroughly on google you will get to know.
    BIG SCAM ALERT!!!!

  6. FINALLY FCA HAS CAUGHT tradeprocapitals.com SCAM

    FINALLY FCA HAS CAUGHT THE SCAMMERS- here OFFICIAL NEWS – https://www.fca.org.uk/news/warnings/tradepro-capitals-limited

    Now you guys says FCA also scam? HUH?
    http://www.tradeprocapitals.com has been proved a BIG SCAM by FCA Uk
    and they also mention to be BEWARE and not to invest in SCAM

  7. Tradepro capitals

    You are kindly requested to provide us with your particulars (i.e.name and account number) in order to allow us to attend to any queries you may have. We are unable to find you in our system, kindly send us your concern or issues at at [email protected] for any clarifications you may require.

    kindly note some bad people have wrong information they are also promoting scammer company with Fake profile id

    Thank you
    Support Team

    1. Albert Einstein mx

      I have sent my withdrawal request two weeks back and within one day I got the money. But yesterday I have given a new request to withdraw but till now no response.

      1. You got your withdrawals???

  8. Jyoti Joshi is doing fraud in the name of Forex Trading using a scamming portal called Trade Pro Capitals. Initially she asked me to invest 100$ and later on, she asked me to invest more and gave me false assurance of making the invested amount double. I lost all my money and when I asked her about it she simply ignored my messages and calls. Guys beware of her and never go for Forex Trading if she approaches you.

  9. 2100125621
    [email protected]
    TradePro Market LIMITED live
    Metatrader 5

    It’s a real account or scam account???

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