ProTrade Technologies Inc is a CFD broker whose official domain was registered on May 24, 2024. This broker primarily offers investment services in markets such as forex, cryptocurrencies, indices, stocks, energy, and commodities. It does not provide services to countries and regions where it might violate local laws or regulations.
Company Registration Information and Regulatory Status
Information on ProTrade Technologies Inc (protradetech.com) from its official site shows that the trading name used by this broker is "ProTrade." It claims to be regulated by the Financial Conduct Authority (FCA) of the UK and the Australian Securities and Investments Commission (ASIC). However, the "Terms and Conditions" section of its website indicates that its service agreements are governed and interpreted according to the laws of Saint Vincent and the Grenadines.
Upon investigation, neither the UK's Financial Conduct Authority (FCA) nor the Australian Securities and Investments Commission (ASIC) have any records of a regulated company named "ProTrade." Similarly, the Financial Services Authority of Saint Vincent and the Grenadines (SVGFSA) does not have "ProTrade" in its registry and does not effectively regulate financial derivatives trading.
Therefore, ProTrade Technologies Inc (protradetech.com) is essentially a fraudulent broker with no legitimate company entity or regulatory oversight.
Account Opening Process
The process to open a trading account with ProTrade Technologies Inc involves visiting the broker's official website, clicking on "SIGN UP" at the top right corner, filling out personal details such as name and email, setting a login password, and submitting the information. Upon verification, the account can be successfully registered.
Trading Instruments:
ProTrade Technologies Inc offers a variety of trading instruments, including forex, indices, commodities, stocks, and cryptocurrencies.
- Forex: Involves the exchange of different currencies, known for its high liquidity, enabling traders to profit from exchange rate fluctuations.
- Indices: Allows speculation on the performance of entire markets or specific sectors without trading individual stocks, offering diverse trading opportunities with high leverage.
- Commodities: Covers key global market resources, enabling traders to buy and sell raw materials like metals, energy, and agricultural products.
- Stocks: Enables investors to profit from price movements and dividends of public companies without owning the actual stocks.
- Cryptocurrencies: Provides opportunities for digital currency enthusiasts to profit from highly volatile assets.
Investment Plans
The official website of ProTrade Technologies Inc does not disclose information regarding account types, spreads, trading leverage, margin call/stop loss levels, trading commissions, minimum/maximum trade volumes, maximum positions/orders, or minimum price precision.
Trading Platform
ProTrade Technologies Inc claims to offer the MT4 trading platform, providing deep liquidity, leverage up to 1:500, and the industry's best spreads. However, an inquiry into the MT4 trading platform reveals that there is no broker named ProTrade Technologies Inc.
Deposits and Withdrawals
ProTrade Technologies Inc supports deposits and withdrawals through debit cards, wire transfers, electronic checks, or check deposits.
Summary:
Traderknows reminds investors that ProTrade Technologies Inc is actually a scam broker website with no corporate entity and no regulation. Additionally, the website's contact method is limited to email. It is recommended that investors choose brokers with transparent information, strong regulation, and good reputation for investment activities to avoid unnecessary financial losses.
Currently, this broker is marked as a "Scam" on Traderknows.
