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Global Pro Trader (Globalprotrader.com) is falsely offering Bonds, Cryptocurrency, Forex, Indices, Rates, and shares. GlobalPro Trader is claiming to be in the industry for 4 years as their banner claims. GlobalProTrader is also professing to enable traders exhaust the full potential of global markets. With these heavy claims and promises, some investors have signed up without conducting due diligence. Read this genuine GLOBAL PRO TRADER Review for more clear details.
According to what they are selling, Global Pro Trader is claiming to be the best solution for profit making. Other claims include using security protocols that have never been breached with exclusive offers for loyal clients. And this is where the problems start as we have strong evidence Global Pro Trader is a cloned website. Traders know for a fact that top rated brokers never falsify information on their websites. A legit and transparent broker will be open and expose the risks of trading in Forex.
Global Pro Trader is just in the market to try and make some quick money off unsuspecting investors. Once you sign up with this illicit platform, chances of having your bank account swept clean are high. A majority of members have reported this platform to authorities after having their accounts frozen. With no reason given, these scam artists are deliberately shutting down accounts with balances still reflecting. And this is why we must expose some of the red flags we spotted with global pro trader.
The platform claims to have more than 250 trading tools on their trading platform. Other claims include encrypting all data using a 128-bit key and IP address of users remains hidden. We know for a fact that this is a lie as the company has been selling personal information to third parties. The platform claims to have their main office in Luxembourg which is another lie. No broker or professional trader has ever heard of this platform. These scam artists use European city names to try and fool European investors.
Anonymity is another problem we noticed with this platform. With all the information posted regarding trading, they failed to disclose crucial ownership details. Disclaimer at the footer of their homepage shows the platform is under the Global Pro Trader brand. No company register in Europe has a company licensed or registered under this name. Proof of ownership is necessary for a transparent trading relationship. The platform would have at least posted social media handles of staff members or brokers associated with them.
With claims of being located in Luxembourg, we contacted the officials in this region for status. The CSSF is the official broker regulator in Luxembourg and they have no broker licensed under the above name. And this is the concrete proof we have that this is a totally unregulated platform. The problem with unlicensed entities is that they never properly safeguard the interests of members.
Other notable regulatory bodies in the region such as CONSOB, CySEC, FCA, and FMA don’t recognize it. The other red flag we noticed is that the platform fails to disclose any relevant documents to users. You expect a platform to post copies of their license and registration details for all to see. No license number has been seen on the entire platform. And this leaves much to be desired. Without a valid trading license, deposits are not insured as dictated by trading regulations.
A closer look at their real account page reveals that Global Pro Trader is offering three account types. The account types listed include Basic, Gold, and Platinum. What we noticed is that the platform never reveals the account features. You are left guessing what the acceptable minimum deposit is with each account type. Another disturbing feature with this platform is details regarding leverage and spreads involved. Without the account features, traders are signing up blindly.
Global Pro Trader does offer live chat support, the only problem is that it is not 24 hours support. Traders in different time zones will have to trade without getting any support. A clip of our conversation with the chat representative Adel Kelson says it all. These scam artists prefer users to send emails or have them call you. When the account managers get your phone number, you will be bombarded with phone calls. These account managers demand users to deposit more funds to get a chance of making any profit. You will be held ransom with this platform.
As part of their promotion, Global Pro Trader is offering a demo account. What kind of a promotional material is this? A demo account should be in all platforms as it helps traders get to know more about the platform. A demo account ensures you know the advanced tools available and speed of executing trades. These scam artists never give users the needed promotional materials such as tutorials and videos. A platform which wants to help trader will offer free tuition to newbies.
Depository channels listed include Credit/debit card and wire transfers. The issue with GlobalProTrader is lack of clear details regarding their withdrawal policies. Sure, they claim withdrawal time is three to eight business days. A huge problem with withdrawal is no member has come out with evidence of ever withdrawing funds. These scam artists ensure they get all the funds without placing any trades. And this is why we mist expose the platform for the scam practices seen.
Another problem we noticed with the platform is the sign up process. You will have to provide them with proof of identity. It means you have to send them a copy of your ID. These scam artists are even asking for your credit card details such as the account number and card number. These scam artists will hack your bank account and leave it empty. Never give out your personal information to unregistered online investment platforms.
When it comes to security of funds, Global Pro Trader is never guaranteeing it. A stable and secure Forex trading tool will guarantee member safety. With no clear account details, segregation of accounts is not taking place. GlobalProTrader is pooling funds in one account. Members are sending funds to one bank account which belongs to these scam artists. It is better to use recommended and tested online trading platforms than gamble with this illicit broker.
With all the evidence produced, we can see that Global Pro Trader is a scam. These scam artists have created a cloned website for the sole purpose of stealing from unsuspecting investors. Due to the strict registration guidelines, they have decided not to apply for a license. Never expect any compensation when the platform faces bankruptcy or goes under. We have reason to believe that authorities will soon investigate the platform and shut them down.
As with every trading platform, the truth about how they treat investors does come out. What we have seen in this platform is worth exposing to the trading community. No one should ever face what the victims of this scam are going through. Next time you want to open a trading account, do some research. It helps to read reviews of trusted and vetted online review companies. You can check out our detailed reviews on all online trading related brokers and products.
Wishing all investors a happy and prosperous trading experience in the Forex world.
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