Abstract：ProMarkets, an unregulated St. Vincent broker, faces WikiFX warnings, frozen withdrawals, and fake profits. Avoid deposits—check reviews and protect your funds.
ProMarkets Review: Total Forex Scam Alert – ProMarkets is an unregulated broker registered in Saint Vincent and the Grenadines, flagged by WikiFX with a dangerously low score of 1.50. The broker has been exposed as a suspicious clone of a U.S. NFA license, meaning its claimed regulation is fake and invalid.
Traders have reported frozen withdrawals, blocked accounts, and manipulated profits, all of which point to clear forex scam activity. The WikiFX App has issued warnings against ProMarkets, urging investors to avoid deposits and protect their funds. This exposure review highlights why ProMarkets should be treated as a case of forex fraud and why traders must remain vigilant against such online trading scams.
Overview of ProMarkets
ProMarkets presents itself as a forex and CFD broker that operates on MT4 and MT5 trading platforms. The company claims to be registered in Saint Vincent and the Grenadines, a jurisdiction notorious for hosting unregulated brokers. According to its profile, ProMarkets is marked as a “Suspicious Clone” of a U.S. NFA license, with license number 0529290. This license is invalid, and the broker is not regulated.
The brokers WikiFX score is alarmingly low at 1.50, signalling high risk. Multiple user complaints highlight issues with withdrawals, frozen funds, and unapproved transactions. These red flags strongly suggest that ProMarkets is not a trustworthy broker but rather a forex trading scam designed to lure unsuspecting traders.
Regulatory Status: Unregulated Broker
ProMarkets operates without valid oversight. Its supposed NFA license is a clone, meaning it is fraudulent and not recognised by the regulator. This places ProMarkets in the category of forex broker scams, exposing traders to serious risks such as:
- Frozen withdrawals, where clients cannot access their funds.
- Fake profits are displayed on trading accounts to encourage further deposits.
- No investor protection, since Saint Vincent offers no regulatory safeguards.
This lack of regulation makes ProMarkets a clear case of forex fraud, and traders should treat it as a scam alert.
User Complaints and Exposure Cases
Several traders have reported disturbing experiences with ProMarkets:
- Withdrawal failures: Clients attempting to withdraw amounts such as $2,000 were denied access to their funds.
- Unprocessed transactions: Accounts remain locked, with balances frozen.
- Manipulated profits: Reports suggest that ProMarkets shows fake gains to entice further deposits, only to block withdrawals later.
These cases confirm that ProMarkets is not a legitimate broker but an online trading scam. The exposure highlights a pattern of investment scam tactics aimed at exploiting traders.
Risk Warning and Scam Alert
The brokers profile clearly warns: “Suspicious Clone – Please stay away!” This is a direct indication that ProMarkets is unsafe. Traders engaging with this broker risk losing their deposits entirely.
Key scam indicators include:
- Unregulated status in Saint Vincent.
- Suspicious clone license falsely linked to the U.S. NFA.
- Negative user reviews citing withdrawal problems.
- Low WikiFX score of 1.50, signalling extreme risk.
These elements align with typical patterns of forex investment scams, making ProMarkets a dangerous choice for any trader.
Why Traders Must Avoid ProMarkets
ProMarkets is a textbook example of an online investment scam. The broker uses cloned licenses, misleading claims, and withdrawal blockages to trap investors. Without regulatory backing, traders have no recourse if their funds are lost.
The WikiFX App has flagged ProMarkets with multiple warnings, reinforcing the need for caution. Traders should rely on the WikiFX App to verify broker legitimacy before depositing funds. Exposure reviews like this serve as a forex alert to protect investors from falling victim to forex broker scams.
Final Verdict
ProMarkets is not a safe broker. Its unregulated status, suspicious clone license, and frozen withdrawals confirm that it is a forex scam. Traders should avoid depositing money with this broker and instead use trusted platforms verified by the WikiFX App.
ProMarkets Review Summary:
- Regulation: Unregulated, suspicious clone license.
- Country: Saint Vincent and the Grenadines.
- WikiFX Score: 1.50 (very low).
- User Complaints: Frozen withdrawals, fake profits, blocked accounts.
- Risk Level: Extremely high – clear forex fraud.
Protect your funds and stay alert. ProMarkets is a forex trading scam that should be avoided at all costs.
