Proactivetrade.com Review Is Proactive Trade A Scam Forex Broker

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Proactivetrade.com Review: Is Proactive Trade A Scam Forex Broker?

Proactive Trade Review: this is the name of a Forex broker that seems to be based in Canada. Is proactivetrade.com a legit Forex broker?

The lack of corporate information on the website is a red flag because this is one of the aspect scam Forex brokers leave out. We find no address as well. What we find are promises about traders gaining ‘financial freedom’ and getting ‘a new kind of trading experience’.

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It is common for Forex brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.

However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.

The broker claims to offer a wide range of financial instruments and excellent trading conditions. A summary of the benefits of trading with Proactive Trade Forex broker is as follows:

Transparent registration conditions
Daily analytics and free educational materials
Multiple methods for deposits and withdrawals
East trading options both for beginners and experts

Proactive Trade Trading Platform

It is mentioned that Proactive Trade trading software is operated on a Web-based platform available to all their clients.

Legit brokers are known to offer at least the popular MetaTrader 4 or 5 trading platform.

This platform is a very good sign along with MT5, as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating system. All can be used on desktops, Linus, windows, iOS and Android.

Tools that comes with these trading platforms are also found to be useful for traders. It has proven to be user friendly as well and helps traders in analyzing the market easily.

Trading instruments offered to traders are not mentioned although we find something about cryptocurrencies being offered. We know that legit brokers offer currency pairs, indices, CFDs on many commodities and cryptocurrencies. It is important to let traders know the options open to them.

Maximum leverages can reach up to 1: 200 and while this is generous, it can pose danger as well. High leverages can lead to huge loss of funds as well. Spreads are said to start from as high as 3 pips.

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Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.

Deposit and Withdrawal methods on Proactive Trade

The means of making payments and withdrawals with this broker are not stated but it is possible that Card transactions and Wire transfers are allowed. We do not find it encouraging that e-wallets are not in use.

This is because standard and legit brokers make deposit and withdrawals available via Visa, MasterCard and Wire Transfer. Many offer e-wallets like: Skrill, Neteller, UnionPay, FasaPay, and so on.

Minimum deposit required is placed at $2500 which is higher than the obtainable average of $100 – $250 among brokers. Withdrawal charges do not apply according to the broker, nor does commissions.

This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.

Trading bonuses are not offered and we have found that this is a means brokers use in tying down clients. Its absence is an advantage.

Is Proactive Trade Licensed?

No. Proactive Trade is not a duly licensed Forex broker. It seems to be located in a region where Forex trades are regulated s it should have a license. We have warned traders countless times to avoid unlicensed brokers.

Regulated Forex brokers in Europe, America, Africa, Australia, and Asia are under many strict rules. The regulatory bodies like the FCA, FSCA, CySEC, AISC, NFA and many others have regulations protecting Forex traders from unfair brokers. This is why they come top as recommended Forex brokers.

Support

To contact a customer care agent of this broker, clients are directed to call: +12044102496 (Canada) or +442080898732 (UK).

Conclusion

Proactive Trade is not a licensed Forex broker despite having contact number in UK where Forex is regulated. Most of the information we seek in a Forex broker is lacking form its website. We do not find this encouraging but rather shady. The spreads are high as well as it minimum deposit requirement and we advise traders to rather seek other brokers.

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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

ProActiveTrade review – is proactivetrade.com scam or safe forex broker?

ProActiveTrade is a brokerage supposedly located in Switzerland. There is a lack of clarity regarding the registered address of the company behind the broker. Read the whole review to find out the benefits and disadvantages in dealing with the brokerage!

Disadvantages

Lack of regulation

We receive no corporate information from the website except a mention of Switzerland in the terms and conditons. We even do not learn the name of the company. Such a lack of information is a clear warning sign in Forex trading. Furthermore, anonymity means we have no clue who the people are behind the website and we have no way to contact them directly.

Switzerland is deeply integrated within the EU without being a member-state through a series of bilateral treaties. Online Forex trading has been taken into consideration in the country’s legislation and the Swiss Financial Market Supervisory Authority FINMA is in charge of overseeing financial activities. Forex brokerages in Switzerland have to be licensed by the FINMA but we find no mention of such a license on the broker’s website. However, after checking the online registry of the Swiss authorities we can safely conclude that ProActiveTrade does not fall under any regulatory oversight whatsoever.

Furthermore, we must emphasize, as we have countless times, that missing regulation brings together with it uncertainty regarding the most crucial aspect of a brokerage – the safety of the clients funds. We have no guarantee of the segregation of accounts i.e. we do not know whether the brokerage handles the money of their clients separately from their own, which greatly increases the chance for fraud. Clients also do not participate in a compensatory mechanism, such as the Investor Compensation Fund of the Cysec authorities, where by the traders losses may be covered in the unlikely case of the brokerage’s bankruptcy. All this, and much more, impels us to advise interested traders search for better and safer trading conditions. Here is a list of our top Cysec-regulated forex brokers:

Leverage is a two-sided issue and is always problematic deciding whether a brokerage’s leverage should be seen as an advantage or a negative. On the one hand, it allows traders the possibility of significantly higher profits than would be if they traded with no leverage whatsoever, but in contrast to that – if the market trend leads to losses, leverage will increase the losses. ProActiveTrade provides the clients with a leverage of 1:200 which is reasonable and does extend some freedom in the trader’s dealings.

No fees or commissions

Due diligence always requires us to go through the lengthy terms and conditions of the brokerage in search of potential fees or commission that may be hidden there. Such fees should be taken seriously, because they do not show up on the home page of the brokerage, but may significantly drive up the cost of trading. After a thorough research on our part, we can confirm that ProActiveTrade does not have such surprises in store for potential clients. This should be seen as a huge advantage.

Through a demo account we were granted access to the trading platform the brokerage provides for potential clients. It is web-based and pretty decent. We have seen quite a few of those with other brokerages as well. The charting is readable and crisp and there is some analytic potential.

Interested traders should be sure to check our list of recommended forex brokers who provide the MetaTrader 4 which is probably the foremost trading platform at the moment:

ProActiveTrade is an unregulated brokerage supposedly registered in Switzerland, however, there is a serious lack of information on the website of the broker. The trading conditions are also not that at all favorable for traders. However, without proper regulation we just cannot confirm the security of the clients money and that is what most of all inclines us to recommend interested traders look into better trading options to which we have linked throughout the review.

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