When I stumbled on the name FX Pro, I thought to myself: “Well, finally! A platform that does things for me, and is an established name in the business!” Turns out - I spoke too soon. Though this platform does, in fact, aim to separate itself from the pack of trading platforms out there, so far, they have only been able to shed a grim spotlight onto their part in the Foreign Exchange market.
Ever since they first opened up back in 2006, they have been able to achieve over a dozen scams a year. Yes, you read that correctly. When you do a deep dive into this glorified broker’s history, you will find more than enough reviews and complaints made by people that were once their clients. The more you read, the more you will learn how despicable this broker actually is. When you put it like that, I am honestly astonished how they were able to pull off their scam for almost 15 years and not end up behind bars. So, beware!
Platform and Execution SCORE: 73%
FX Pro takes pride in offering its clients several hundred of the most tradeable assets. And sure, that is always a plus - however, things are not so shiny when you dig deeper into this platform. Namely - at first glance, FX Pro offers amazing spreads. Too amazing. Too good to be true.
As it would soon turn out, they aren’t! Namely, I decided to put some money into some safer assets at first, just to be safe, you know. So, I played around with the USD/JPY currency pair since that one has worked out for me so many times in the past. As you know, the Japanese yen is the most liquid and stable currency out there. And when you combine it with one of the strongest economies in the world, how can you ever fail?!
I will tell you how. By putting your trust (and your money) into the wrong hands. You see, what platforms like FX Pro do is, they take even the safest bets and turn them into something ugly and shameful. So, no matter how good of a trader you are, no matter how skillful or patient, with brokers like these - you are set for failure from day 1.
Withdrawal Speed SCORE: 80%
When it comes to withdrawing your money, don’t even hope to do so lightly. Namely, first, you will be invited to deposit more and more and a bit more, with shiny promises of great spreads and amazing rewards for your time and effort on the market.
And if you happen to profit off of this broker and its many twists and turns, congratulations! You are one of the lucky few. Very, very few. Would you like to withdraw this money from your account, perhaps? Hey, you’ve earned it! Go treat yourself and your family to something special!
That’s what I wanted to do, but tough luck. FX Pro cluttered my feed and my e-mail address with so many additional and unnecessary paperwork which I was supposed to fill out, in order to get my funds withdrawn. It was ridiculous! But that’s the classic FX Pro scam for you - creating more and more obstacles until you eventually give up and regret that you even tried.
Support and Assistance SCORE: 83%
FX Pro takes pride in hiring over 200 employees to assist you with anything and everything that you may need along the way during your trading journey. Funny thing is, that this scam of theirs works similarly as pickpocketing - while one of their staff members are drawing your attention away with some promises of great profit, the platform is actually draining your funds by the minute.
And what happened to that sweet, knowledgeable guy who was assigned to be my broker? That’s what I’m wondering, too. At first, he was at my back and call, always ready to answer about a million of my random questions patiently and reassuringly. But when things took a turn for the worst, however, I couldn’t get through to him. He was always unavailable, in the meetings, on vacation, and so on. Not cool, FX Pro!
Education and Tools SCORE: 67%
When I came to the section of education of FX Pro, I had to say I was highly discouraged by what I saw. Namely, the educational section is so poor and lacking basic information. I guess they are expecting from all of us to be pro traders when we come onto the platform - no beginners allowed! On the other hand, how can a platform that is lacking basic principles be able to teach me anything?