Beware! ProInvestments.io is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
ProInvestments.io is definitely up to no good, if we are to judge it only by its website. The inclusion of third party charts all over, the reliance on templated design, the bad choice of colors, the limited and uninformative source of legal details, are all marks of the typical scam. In truth, ProInvestments.io is the common example of how NOT to proceed in this line of work.
Another sign of the risky broker is the ease with which it grants users access to is client portal. It took us seconds to open an account, and were were immediately led to a colorful but ultimately dubious user area. The easy registration approach is purposeful; it allows anyone to enter and start depositing which is what scammers like ProInvestments.io yearn for.
We access a web trader, where the following tradeable assets were available: forex currency pairs, crypto, commodities, shares, NFTs, and indices. There EUR/USD cost of trade of 0.4 pips is actually relieved of any commission as indicated on the web trader itself; as for the site, it does not mention any commissions. But, as skeptics of suspicious brokers, we cannot expel the possibility that the spread has been manipulated in order to lure in clients.
The leverage was capped at 1:100. Speaking of the leverage, we must mention the 9 different account types on advertised on the website, each one with significantly different leverages. It is a very rare occasion when a scammer broker actually offers an account tier. Her with ProInvestments.io we were not asked to chose one, meaning that the website promotes a misleading and contradictory service.
PROINVESTMENTS.IO REGULATION AND SAFETY OF FUNDS
We have a UK address that suggest the broker is active with the UK investor audience. Well, it only wishes it was. The realty is that ProInvestments.io is probably not even illegally operating from the UK because he regulations there are way to intact to be so easily broken. Moreover, ProInvestments.io is not licensed by the FCA (just to get this out there).
Fake UK address aside, the legal docs claim multiple times that the if the user does not abide by his own jurisdiction’s rules and regulation then he cannot access the brokerage site. This is one of the most common scammer claims that shifts the regulatory responsibility onto the user’s shoulders.
ProInvestments.io is without a doubt unregulated and a big risk to all investors.
Unless you wish to throw your money away for no reason , there is absolutely no incentive for investing in unlicensed brokers. In fact, you would be doing them a big favor by funding their further fraudulent projects. If you wish to trade real FX and CFD with regulated brokers, looks no further that those that are regulated, especially in well known locations such as Europe, the UK, the US, or Australia. The regulators there are pedantic to a ridiculous degree and will do everything in their power to uphold the rights of the user and the integrity of the market industry. It is within their power to penalize brokers and demand client compensation, as well as to set industry standards and introduce new rules and regulation.
PROINVESTMENTS.IO TRADING SOFTWARE
This web trader is gaining notoriety as a popular one amongst unregulated brokers, as the last couple of months have shown. The truth is that this broker is mostly visuals.
Perhaps the most impressive aspects to the web trader is the live news section and the market watch as well as the various chart tools. But ultimately it is not worht risking your finances just to interact with a limited web trader.
PROINVESTMENTS.IO DEPOSIT/WITHDRAW METHODS AND FEES
The user area presents a huge array of crypto wallets, bank transfer, credit cards, debit cards, and some e-wallets, all used as payment methods. Most card options lead to some e-wallet, most of which were quite shady and not really to be trusted. Moreover, the minimum deposit is $1000, which is way too much. Consider the average industry minimum of $250, and you can see how far ProInvestments.io reaches.
In the withdrawal area, we learn that the payment methods are only three: bank, a BTC wallet, and a credit/debit card. The depositing methods are more than ten in totaal, and most of them are not used for withdrawing, conveying the fact that ProInvestments.io is not adhering to anti-money laundering laws.
No further details are added, nor are they needed. ProInvestments.io is a scam and a risk to all!
HOW DOES THE SCAM WORK
Getting scammed usually happens without you knowing it. It’s a deceivingly simple process that owes its success precisely because it seems so avoidable.
First, there is the matter of getting in contact with the broker which happens in one of two ways. Either it contacts you, or you it. If it calls, it means that somewhere in your net journey you accidently left a phone number or an email address. Or you were persuaded by the broker to contact it, which is why many scammer brokerage sites looks so appealing.
The hardest thing to achieve, for a fraudster, is to convince a user to invest an initial deposit. Prior to this a certain level of trust must be built, centered around a false sense of rapport. The broker will fake an interest in the user and in the process talk about market and profit opportunities, as well as investment choices. It’s all a part of a retaining strategy that will keep the user invested for at least a couple of thousand dollars, on average, until, eventually, he realizes the scammer pit he has fallen in.
When this happens, the broker will seize all contact with the user, and might even block the client from the website. It will go to great lengths not to return a single penny of the user’s money.
WHAT TO DO IF SCAMMED
The first thing you should do it to file for a charge back. That’s if you have invested by means of a credit or debit card. MasterCard and VISA have a chargeback period of 540 days giving users more than enough time to try to get their money back.
Wire transfer deposits are not as easy to acquire, and the best advice we can give you is to set up a reimbursement strategy with the bank leading the transactions. Most banks have strategies put in motion when these circumstances are met. Furthermore, if scammed via a wire transfer, it’s best to change your bank account user name and password.
Unfortunately, all crypto deposits are most surely lost for good. These transactions are untraceable and therefore once they reach the scammer end it all depends on the fraudsters if you see your money back or not.
Lastly, do not trust recovery agents or agencies. These are either separate scammers trying to get a hold of any leftovers, or can even be an extension of the brokerage scam!