ProaktivMarket Broker Review
Following some inquiry, we have concluded that we should avoid this firm and similar ones. The ProaktivMarket website lacks even the most basic information about the firm, and in order to “contact” them, you must provide your email and phone number. They, on the other hand, do not supply a single piece of information, not even naming a specific legal body. There are a few other businesses operating in the same area, and some of them have already been revealed to be scams.
Broker status: Unregulated Offshore Broker
Regulated by: Unlicensed brokerage
Blacklisted as a Scam by: CNMV (Spain)
Owned by: N/A
Headquarters Country: Saint Vincent and the Grenadines
Foundation year: N/A
Supported Platforms: Web trader
Minimum Deposit: $250
Cryptocurrencies: Available (BTC, ETH, XMR ) – total 19
Types of Assets: Forex, stocks, cryptocurrencies, commodities and ETFs
Maximum Leverage: 1:200
Free Demo Account: No
Accepts US clients: Yes
ProAktivMarket Regulation
ProAktivMarket is a Saint Vincent and Grenadines-based company (SVG ). SVG is a Caribbean offshore state where firms have little, if any, regulatory oversight. The SVG Financial Services Authority (FSA) warns on a regular basis that it does not regulate, monitor, oversee, or license currency trading or brokerage.
As a result, we constantly urge new traders to avoid dealing with offshore firms and instead invest with brokers registered by reputable authorities.
Warnings From Financial Regulators
The Spanish regulator, Comisión Nacional de Mercado de Valores, has accused ProAktivMarket of deception (CNMV). It is said that a broker is unregistered and not permitted to provide financial services. We warn all potential investors not to invest with them since there is no assurance of the safety of investors’ funds.
Fund Withdrawal Issues
Because the firm is unregulated and follows no laws, your odds of being paid out are essentially non-existent. According to multiple assessments, this is the most serious concern. The broker appears to use a mechanism in which, if you request a withdrawal, the account manager in charge will try to discourage you, and if you persist, your funds will be held for a prospective payment that will never occur.
According to our observations, the victims are mostly from Germany and other German-speaking countries, but also from the United Kingdom, Spain, and the United States.
Traders About ProAktivMarket Scam
The majority of customers have been duped, thus it is not surprising that the evaluations are bad. Traders often complain about the difficulty in withdrawing cash. Even if they made any money, they couldn’t collect it since the funds were constantly on hold, even after weeks of waiting.
Other complaints included customer assistance that only helped new clients and was frequently phoning consumers to urge them to commit more money.
If you’re thinking about investing, seek a licensed organization that has compensation funds for adverse outcomes.
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