You are in the right path by searching for the Pro Funds EU review because it may not be a legit broker. So, let’s find out in detail whether profundseu.com is a scam or genuine site in real.
About Pro Funds EU
Pro Funds EU claims to have existed since 2009, offering trades on FX, stocks, commodities and cryptocurrency. They said to have clients all over the world with headquarters in London, United Kingdom.
Pro Funds EU offers 3 account types with access to their web trader platform. Minimum deposit starts from €3,500 with leverages extending up to 1:500.
Pro Funds EU offers bonus up to 50%. They claim to have advantages for the potential trader.
Should you trust Pro Funds EU?
We found out that Pro Funds EU is not a genuine broker for trading since it has the following drawbacks:-
- Pro Funds EU is unregulated as they should be regulated if they want to target customers on regulated markets like the European Union, including the UK.
- Unlicensed brokers like Pro Funds EU do not have to report to a governing body. This means that if they scam you in any way, whether it be “glitches” or “malfunctions” causing server slippage in their system, or you go to make a withdrawal and they don’t process it (steal your money), you are out of luck. Beyond posting a bad review online, there is little you can do because these brokers have no legal authority to answer to.
- Bear in mind that unregulated brokers in general are completely uncountable for the way they handle your money, which makes any dealings with such entities extremely risky. Basically that is how people usually get scammed.
- To confirm that Pro Funds EU is a scam, it has been blacklisted by both the Spanish and French regulators as a scam.
Pro Funds EU provided address in London, UK but they are not authorised by the principal Financial regulator in United Kingdom.
Financial regulators that have flagged Pro Funds EU as scam are the AMF in France and the Spanish CNMV. Below is the screenshot of CNMV warning.
The broker claims to have existed for a decade and have over 500,ooo active clients but have no evidence to prove these claims. It is just a new unregulated broker that have drawn the attention of principal European watchdogs due to their shady activities. Their bonus offering might be a trick to lock your deposit till God knows when.
Is Pro Funds EU Safe?
Pro Funds EU is considered not safe, as it is not regulated and licensed by top-tier financial authorities, like the CySEC in Europe, UK FCA, the Australian ASIC, FSC in South Africa and the US CFTC.
The easiest way to check if a broker is licensed is by looking it up in the registry of the respective financial regulator – be it the Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission, the Financial Sector Conduct Authority (FSCA). All of them keep such registers and they are publicly available.
Pro Funds EU is an unauthorized and illegal broker. Deposits with this broker are not protected, the company can’t legally offer its services in almost any country. It is a total scam.
How Pro Funds EU works?
It is risky trading with an unregulated broker like Pro Funds EU, as most of them turn out to be scams. Problem starts immediately you make a deposit to a scam platform. They will use many tactics to make you deposit more.
Pro Funds EU will take deposits from you but never let you withdraw anything, because these brokers often present silly legal documents and conditions that is out of the question as far as legit brokers are concerned. But it will just be a lie to get more money from you.
They will request that you send them more money while declining all your efforts to withdraw your deposits.
At this point, most people will realize that they have fallen victim to a classical Forex trading scam.
Pro Funds EU is a broker that features serious warning signs. They are not recognized by the financial regulator in UK and it has been blacklisted by other 2 European regulators.
Also the broker makes big claims that they failed to prove. Bonus offerings are also banned in UK. Pro Funds EU is a total scam.