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A regulator warning has been issued by Canadian authorities against Proinvest Partners in September 2023
If you are looking for a reliable and trustworthy online broker, you might have come across Proinvest Partners. This broker claims to offer a wide range of trading instruments, including forex, stocks, commodities, indices, and cryptocurrencies. But is Proinvest Partners a scam or a legit broker? In this review, we will examine the features, advantages, and disadvantages of Proinvest Partners, and help you decide whether it is worth your time and money.
What is Proinvest Partners?
Proinvest Partners is an online broker that was founded in 2018 and is based in St. Vincent and the Grenadines. The broker is operated by Proinvest Partners Ltd, which is registered with the Financial Services Authority (FSA) of St. Vincent and the Grenadines under the license number 25694 BC 2019. Proinvest Partners claims to provide a secure and transparent trading environment for its clients, with access to over 250 trading assets across six markets. The broker also offers various account types, trading platforms, educational resources, and customer support services.
What are the pros and cons of Proinvest Partners?
- Low minimum deposit of $250
- Multiple payment methods, including credit cards, e-wallets, and cryptocurrencies
- Variety of trading platforms, including MetaTrader 4, WebTrader, and mobile apps
- Competitive spreads and commissions
- High leverage up to 1:500
- Free demo account and educational materials
- 24/5 customer support via phone, email, and live chat
- Offshore regulation by FSA of St. Vincent and the Grenadines
- No access to US clients or markets
- Limited information on the website about the company background and trading conditions
- No negative balance protection or compensation scheme
- Reports of withdrawal issues and aggressive marketing tactics
Is Proinvest Partners a scam or a legit broker?
Based on our research, we cannot recommend it as a legit broker. The main reason for our hesitation is the offshore regulation by FSA of St. Vincent and the Grenadines, which is not a reputable or trustworthy regulator in the forex industry. Offshore brokers are often associated with high risks of fraud, manipulation, and abuse, as they are not subject to strict rules and oversight by reputable authorities such as the FCA in the UK or the ASIC in Australia. Moreover, offshore brokers do not offer any protection or compensation to their clients in case of insolvency or misconduct.
Another red flag that we noticed about Proinvest Partners is the lack of transparency on their website. The broker does not provide clear information about their company history, ownership, management team, or trading conditions. The website also contains some misleading or inaccurate statements, such as claiming to be regulated by CySEC in Cyprus or offering negative balance protection to their clients. These claims are not backed up by any evidence or documentation on the website.
Furthermore, we found some negative reviews and complaints about Proinvest Partners online, especially regarding their withdrawal process and marketing practices. Some clients reported that they had difficulties withdrawing their funds from Proinvest Partners, or that they were charged hidden fees or commissions. Others claimed that they were pressured or harassed by the broker’s sales agents to deposit more money or to accept unwanted bonuses or promotions.
Therefore, we advise you to be cautious and careful when dealing with Proinvest Partners. If you are looking for a reliable and trustworthy online broker, we suggest you look for one that has a solid reputation, a strong regulation, a transparent website, and a positive customer feedback.
What to Do If You’ve Lost Money with Proinvest Partners?
If you have been scammed by Proinvest Partners or any other broker, you’ll want to seek assistance from brokercomplaintregistry.com immediately. Our experts will consult with you and bolster your claim to help you get your money back. Brokercomplaintregistry.com is a leader in recovering your funds and will help you retrieve your funds from a broker scam.