Do you want to trade on Protector FX? Why is protectorfx.com a scam? Read detailed Protector FX review to know about this broker.
This article promises to share helpful review to support clients/traders in making the right decision.
Protector FX also known as protectorfx.com is an offshore brokerage company with a lot of promises for forex traders. The broker’s address is shown as 71 – 75 SHELTON STREET, LONDON, ENGLAND WC2H 9JQ.
What is more, the broker offers different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents a zero spread difference in Buy/Sell.
To clarify, traders must know they are dealing with an unknown broker which does not have a regulation over its head.
Deposit and Withdrawal
Protector FX Minimum Deposit:
Protector FX minimum deposit is indicated $100. The good thing about a licensed FX broker is that Minimum deposit is made known to traders, and clients can start trading as low as $100 .
As for the payment methods, the broker allows deposits via VISA, Mastercard, American Express, PayPal and bank wire transfers.
Just so you know, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
Protector FX leaves us with no specific information on withdrawal fee nor processing days on withdrawal request. The broker provides no clear description on trade requirements that must be met before a withdrawal.
Protector FX Platform:
Protector FX platform offers MT5 (Industry standard trading platforms). What you must know is that, the claim to offer MT5 does not make the broker legit because any scam broker can do the same to lure forex traders.
As for Protector FX leverage, it can get up to 1:500. Truly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Why protectorfx.com Is A Dubious Broker
First and foremost, protectorfx.com has no financial authority overseeing its financial services. As far as we’re concerned, this is the one of the most ambiguous yet common remarks made by scammer entities, helping them become as vague as possible but yet retaining the illusion of being legit. On our search, We could not find this broker on Financial Conduct Authority, UK register let alone licensed by FCA, UK.
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are drawbacks for forex traders to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Protector FX Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
Protector FX located at protectorfx.com claims to be a trustworthy trading broker, however, that cannot be ascertained. From indications, we would advise traders to steer clear from this broker as it likely a platform run by scammers. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.
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