Beware! Strike ProFx 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.
Strike ProFx tries to convince us all that it’s a reputable broker with a legit forex license. A quick look at its website however was enough to realize that this firm is running a scam. First of all, Strike ProFx is based in a country that doesn’t regulate forex brokerage activities and has a really bad reputation as a scam haven. Secondly, this broker openly lies about being a member of NFA and this can easily be proved.
Long story short – this should be your last choice when it comes to trading with stocks, currencies or commodities. Or to be more precise – better don’t invest at all instead of risking your hard earned money with shady brokers like this one!
Strike ProFx Regulation and safety of funds
|Guaranteed Funds||Segregated Accounts||Negative balance protection|
|UK regulated brokers||£85 000||Yes||Yes|
|EU regulated brokers||€20 000||Yes||Yes|
|AU regulated brokers||No||Yes||Yes|
|US regulted brokers||Yes||Yes||No|
Strike ProFx claims its registered address to be in St. Vincent and the Grenadines. At this point we were quite sure that this firm is not authorized to offer financial services, just because this offshore zone is known for its lack of forex regulation. In fact it has a very poor reputation as the scam haven that all illegitimate brokers tend to choose. If you have even the slightest doubt, just check the official website of the local Financial Services Authority (FSA) – this entity clearly states that forex trading brokerage activities are not licensed in this country.
Furthermore, Strike ProFx also claims to be a member of the National Futures Association (NFA) of the US and posts a registration number as well. This seemed quite suspicious – from our experience we know that scammers tend to add some deceitful data just to confuse uninformed clients. Because of that we decided to check the registers of NFA and it turned out that there’s an official warning stating that Strike ProFx is not a member. See for yourself:
And even though its website may look user-friendly and filled with flattering promises, don’t let it fool you. This broker will show its true colors the moment you make your first deposit – you may realize that no withdrawal is possible and your money’s gone for good!
On top of that, this website lacks any legal documentation like Terms and Conditions or Deposit/Withdrawal Policy which is quite worrisome at least to say. In fact it’s a huge indication of scam!
Strike ProFx Trading software
|Analytical tools||Auto trading||Custom indicators||Mobile apps|
|Strike ProFx platform||❌||❌||❌||❌|
|cTrader||40+ indicators||✅||✅||Android and iOS|
Strike ProFx claims to offer the well-known platform of MetaTrader 4. The software however can’t be previewed or downloaded before you open an account with this broker.
After we registered there were several links for downloading MT4 on desktop or mobile. We were badly surprised though, as after we installed the software, this is what was displayed, take a look:
This platform seems absolutely dysfunctional. We don’t know the reason for that, but one is for sure – this broker looks more and more shady.
We recommend choosing a reputable firm that offers MetaTrader 4 or MetaTrader 5 for real.
Strike ProFx Trading instruments
Strike ProFx claims to offer more than 107 currencies, as well as many stocks, cryptocurrencies and some commodities, among which are gold and oil. This list is quite average to be honest. Nevertheless, most legitimate brokers tend to offer the same assets, or even more along with a safe and secure trading environment.
Strike ProFx Spreads and cost of trading
Strike ProFx claims to offer two account types – Standard and Cent account. You can see some more details about them down below:
The Standard account promises spreads from 0.5 pips, whereas the Cent account offers spreads from 1 pip. This broker also claims that there are no commissions ahead. So these amounts certainly seem quite attractive, as every spread below 2 pips comes with lower trading costs. However, since the software didn’t work properly, we can’t confirm if these volumes are correct or not.
Nevertheless, bear in mind that scammers usually post deceptive information about the spread they provide that eventually turns out to be quite unfavorable.
Strike ProFx Maximum leverage
|Strike ProFx broker||100:1||❌||❌||❌||❌|
|UK regulated brokers||30:1||5:1||❌||10:1||10:1|
|EU regulated brokers||30:1||5:1||2:1||10:1||10:1|
|AU regulated brokers||30:1||5:1||2:1||10:1||10:1|
|US regulated brokers||50:1||❌||❌||❌||❌|
The maximum leverage is said to be 1:100 for both accounts. This volume is too high and risky without a doubt and is not recommended for retail traders. As a matter of fact there is a leverage restriction in most of the countries like for example 1:50 in the US or 1:30 in the UK. This measure aims mostly to protect investors from sudden losses.
Strike ProFx Deposit and withdrawal methods
|Deposit time||Withdrawal time||Fee|
|Bank transfer||24 hours||24 hours||Not specified|
|Bitcoin||24 hours||24 hours||Not specified|
|Tether||24 hours||24 hours||Not specified|
On its website Strike ProFx claims to accept a variety of payment methods like Visa, Mastercard, bank transfer and crypto transactions with Bitcoin and Tether.
After we registered however the payment options were slightly different. In fact you can make a deposit using either bank transfer or crypto transactions with Bitcoin or Tether. Take a look:
Be extra careful with this shady firm, especially when it comes to crypto payments, as they are completely irreversible and anonymous.
In addition, this broker also promises that you can quickly make deposits and withdraw funds – to be precise the execution time is said to be up to 24 hours.
And lastly, Strike ProFx claims that there are “low fees”, but doesn’t specify exactly how much they are. This is quite worrisome data to be honest. First of all, these fees may turn out to be very high like for example 15 or even 20% – this is typical for scammers. Secondly, remember that reputable brokers don’t usually ask for a fee upon deposit or withdrawal, so this is certainly a red flag.
Strike ProFx Minimum deposit
The minimum deposit with this broker is said to be just 1 USD for its Cent account. This amount may appear quite appealing, however remember that this is probably just a trick. This firm is absolutely unlawful so any sum you decide to invest will be gone forever.
Just as you know, there are many genuine brokers who offer micro accounts as well – you need just 5 or 10 USD to start trading.
Strike ProFx Withdrawal requirements
|Trading volume||Fee/Tax on withdrawal||Minimum withdrawal|
|Strike ProFx||No information||Not specified||No information|
|UK regulated brokers||No||No||No|
|EU regulated brokers||No||No||No|
|AU regulated brokers||No||No||No|
|US regulated brokers||No||No||No|
Strike ProFx doesn’t mention if there is a minimum withdrawal amount. The maximum withdrawal amount however is said to be 1 500 USD per day.
And since there is no legal documentation like Terms and Conditions or Withdrawal Policy, we don’t have the slightest idea what to expect from this broker.
Just beware, that reputable firms don’t usually ask for any fee in order to get access to your funds nor do they require any minimum trading volume. So if you stumble across such trading conditions be on guard, as it’s a strong indication of scam!