ProuFX Review – 5 things you should know proufx.com

ProuFX Review – 5 things you should know proufx.com

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

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ProuFX is presented as a topnotch forex and CFD broker,where traders can chose among well over 200 trading instruments, including 54 forex pairs, lots of stocks, indices, soft and energy commodities, and even crypto coins, with leverage of up to 1:100, a choice between four account types and a web based trading platform.

This may sound nice, but there are a number of serious issues about this broker, starting with the fact that their website is virtually anonymous, not to mention the absence of a legit license, so if you are wondering if it is safe to deposit your funds with them better read the following review.

ProuFX regulation & safety of funds

As we mentioned the ProuFX website is completely anonymous – there is no company name, no contact address, just a UK phone number, but that does not mean much – you can be in Central Asia and you can register over the internet a phone number that will start with (+44).

And bear in mind that all brokers operating on British soil, as well as all brokers operating in the broader European Union, should be properly licensed and authorized by the respective local financial authority. In the case of the UK this is the Financial Conduct Authority (FCA).

So, because of the UK phone number we decided to give ProuFX a chance, and check the registers of the regulator for any sign of our broker. Unfortunately we were not able to find ProuFX in the FCA registers.

That means what we are dealing here is an anonymous, unregulated website, that most probably is involved in scam.

Bear in mind that unlike licensed brokers, authorized by the FCA in the UK or let say the Australian Securities and Investments Commission (ASIC), or the Cyprus Securities and Exchange Commission (CySEC), unregulated brokers in general are completely unaccountable for the way they handle your money, and quite too often are simply run by scammers.

That is why our best advise is to avoid unregulated websites like ProuFX altogether.

ProuFX deposit/withdrawal methods and fees

We understand that ProuFX accepts payments with Visa, MasterCard and wire transfers, but not popular e-wallets like Skrill, and that is interesting, because of the new anti scam policy the money transfer company, adopted a year ago. According to it Skrill partners only with licensed brokers and as we already established ProuFX is just and anonymous, unregulated website.

Also, be especially careful with any trading bonuses a unregulated broker like ProuFX might offer you. Trading bonuses always come with some additional withdraw conditions, as for example some minimum trade volume requirement, which quite too often scammers use as an excuse to cancel your withdraw requests.

Otherwise the minimum deposit requirement is set at 250 USD and that is in line with what most other brokers would also require.

How does the scam work?

Scammers use various channels to get to their victims, but more and more often they use the social networks like Facebook, Instagram and the so called robo scam websites like Bitcoin Revival and Bitcoin Profit, which are especially designed as traps for careless investors. So if you happen to land on one of those websites, you will probably watch a nicely cut video ad, where you will be made some “irresistible” offer for fast and easy returns, with a minimal investment and no risk at all. And if you do get interested an leave your e-mail and phone, in a second you will be redirected to the web page of an offshore, unregulated scam broker and will be offered to open a trading account with about 250 USD.

And do not be carried away by the success of your initial trades. The truth will be much more trivial – your account will be manipulated with the sole intention that on a latter stage you will be convinced to invest a more substantial sum – like 10 000 USD or so. And that is exactly what your senior account manage will be suggesting on the phone – you will be getting lots of phone calls by that time – if you really want to make some big money, you should definitely invest more.

And quite too many people do get into the trap and invest as much as they can, without realizing they have been scammed until the day they decide to withdraw some of their cash. Than all of a sudden it turns out they have no right to withdraw, because of some minimum trade volume requirement, probably linked to their welcome bonus. The pretext might certainly be different, but the end result will invariably be the same – scammers will cancel all of your withdraw requests.

What to do if scammed?

If you have made your payment with a credit or a debit card like VISA and MasterCard, probably you will succeed to get your deposit back by filing for a charge back. The good news here is that both VISA and MasterCard now allow their customers to do that within 540 days.

And if by any chance scammers have obtained your credit card number and online banking password, immediately change the password and cancel your credit card.

Finally, if you are approached by the so called recovery agencies, do not trust them. They will not recover you a single penny, but simply will make you pay them some fees in advance, basically scamming you a second time.

Rich Snippet Data
Review Date
Reviewed Broker
ProuFX
Broker Rating
11stargraygraygraygray

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11 Comments

  1. I think you could add Mcoin Market to your list. The broker even £4000 from my account without my say so.When I asked for the money to pay my account what I got was have a nice life end of story.Telephone changed and can not access my account.His name was Dennis

  2. Another that should be added to your list is Taurenefx vip.You have no chance of getting any money back they use the funds for their selfs .Then ask you for $9000 and you will get your money.I thank the lord decided Jonny Levone and his mate Chloe all they do is steal your money

  3. Manuel Bretones Luque

    Son los mismos que KontoFX, que me deben 1043€.
    Ver proufx.es o proufx.eu

    They are the same as KontoFX, who owe me € 1043.
    See proufx.es or proufx.eu

  4. *They do not provide fast withdrawal. (see description below for further info)
    Before uprofx.com was the name of this company and their site changed to uprofx.io. the trading company(!) appeared to be trustable.!!!!! at least I was thinking it was. (maybe it was because I was still investing with them.) but, then their site was not reachable. They transferred accounts without any documents to a new site called PROUFX.com that is here now.

    This company is NOT RELIABLE and they do not return money easily. They make traders feel like they OWN the TRADERS MONEY.

  5. Stay away from this company they have stolen $50000 from me. They leverage your account so you can’t withdraw. Despite me requesting no further trading they continually trade. Darin Kidd my manager lies to me every time I talk to him. I catch him out and call him out and there is always another reason for not giving my funds back. They try to silence all the bad reviews. Please don’t give this company any of you money!

  6. Please stay away from this fake company! Don’t put your money in them.

  7. Proufx is indeed a scam.
    They have stolen £20,000 from me. The company started as Uprofx and in January I started with £250. The broker was Davis Smitt. Things semed to go well he even sent me £100 as an incentive. I invested more until in Sept the Uprofx site went off line only to reapear as Proufx. I told David I didn’t want to invest any more and this is were things went bad. He said he couldn’t deal with me unless I deposited more money and I had a new broker Daniel Adelmann he didn’t do anything with my account until I tried to withdraw my money. My account was locked and against my express wishes trades were being made. I was then contacted by Frank Cooper who said I had to stick with the trades Daniel Cooper had set up but I could have my money on 3rd February. The trades they made were all bad so it looked like all my money was lost. The site is a scam the traders are criminals. I believe they are based in Estonia. I would ask anyone who has been scammed by these criminals to contact the Estonian President Kersti Kaljulaid she has a twqitter account and there is a link to contact her on the presidential web site. If enough people complain the authoroties might just decide to arrest these criminals.

  8. Please, stay away from any unregulated company! ProuFX certainly is one of them (their names before/and some are still working!/were UproFX, KontoFX, KayaFX and Olimpia Markets, Libra markets … – they operate following a similar scheme as some communities under management of a criminal Gal Barak arrested in Bulgaria and handed over to Austria).
    I will briefly record my very expensive experience, which makes it completely clear to me now, how this fraudolent sceme works and why companies must be registered, regulated and have known and listed owners and responsible persons. Customers should have the opportunity to appeal and have the right to a fair hearing and answer – Proufx deliberately operates out of order because it can steal unlimited sums everywhere in the world.
    At the beginning of the new year (my account manager Ronald Morris (?) -which has successfully persuaded me to invest increasing sums of my investments (!) – disappeared on december 18), a new person appeared to be the account supervisor – Frank Cooper (?). Within a few hours on January 13, the value of the account fell from almost 20,000.00 to -27 euros. This was happening under my eyes on my account at night (when all markets are closed!). They put my account on a trading robot with criptos that, contrary to the habit, worked 5 months earlier with profit, now worked day and night, until the amount on the account stopped at minus. Then I received a “friendly letter” that my account had suffered damage and that I can “contact the one who placed the account on the trading robot”. Some days before, Mr. Cooper stated that Morris was supposed to be in the hospital (?!) and that he had previously put my money on the market.
    Because, of course, I no longer believed these stories, I kept asking questions like who placed the money, where, how much and where it is now and later I got a short and cold-blooded answer: “your money is lost in the market before the ending of your trading plan”. A very convenient excuse for this thieves, right?
    They did not say anything about this plan before, of course they did not write in a contract either. But on the end of november, I signed the contract drafted by R. Morris and signed by Manuel Armin from the side of Proufx, and it states, that they will not expose more than 10% of the investment!
    Finally: I could not withdraw even the smallest amount of money, not even before January 13, when the money was in the account. Every attempt was rejected. They were able to change the rules of the game at any time, investors didn’t have a say in it. What can be this other than ordinary theft?

  9. It is a scam.
    They would not give any money back.

  10. They should be jailed.

  11. Wadood khalid

    Everyone is a scammer they took our money
    I wish they goto hell.

    Scammers scammer scammers
    Don’t invest please

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