ProudMarket Review: Flop Forex Scam

ProudMarket Review: Flop Forex Scam

ProudMarket ( is another Crypto Currency and Forex scam broker to hit the lucrative trading market. Proud Market is professing to offer a platform where investors can invest their dreams. Is this broker living up to the hype? Certainly not, with some members already crying foul, we had to investigate. Our investigation has revealed some damning facts regarding this broker. Read this honest and open PROUDMARKET review for more details.

ProudMarket Review

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ProudMarket Review

After receiving over twenty email complaints in the last month alone, we knew something was amiss. Why would a broker be attracting so much negative feedback? ProudMarket is another scam platform which must be exposed for their fraudulent activities. Make sure to read this entire review and find out some dirty tricks used by these scam artists. What drives investors to sign up with such brokers to begin with? Why do investors sign up with crooked and dubious online brokers?

Sadly, most investors are attracted by the empty claims and promises used by scam artists. ProudMarket is no different as they promise investors heaven only to deliver hell. Professional scam artists will create a website which is appealing to investors. By cloning real trading platforms, scammers are able to entice investors into signing up. Before signing up with any online investment platform always ask a few questions. Is the broker licensed? Does the broker have a solid trading reputation?

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About ProudMarket

According to their About Us page, this broker claims to be located in the U.K. Scam artists will do or say anything to make their platforms appear to be in Europe. What these scam artists are going for is a European appeal. For all we know, this could be a broker who is based offshore. Stay away from any broker whose details remain sketchy. These scam artists have used virtual numbers to get UK area codes. There’s more to Proud Market which will be revealed in this detailed review.

Who are the actual owners of this platform? Can we get the names of the founding members? What about the names of the people running this website? Why can’t we get any real names of people operating this platform? Anonymity is a dangerous partner to associate with. Any online investment platform with no actual names is not worth your money and time. Ensure you validate who you are trusting with your funds. Members of this platform are trusting an unknown third parties.

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Is ProudMarket licensed or registered?

After checking their entire website for any licensing, none was found. ProudMarket is not licensed or registered by any regulatory body. By claiming to be based in the U.K, one would expect the FCA to have licensed them. Checking with the FCA’s register, no results popped up with this broker’s name. Investors are signing up with an unauthorized broker which is highly risky. Recovering funds from offshore and unlicensed brokers tends to be a long and unfruitful process.

Why have they failed to post any details which reveal their licensing credentials? Why can’t we get any details regarding their actual trading license? A real broker will post details regarding their licensing for all to see. By posting copies of their license documents, brokers show legitimacy as well as transparency. Lack of these vital documents is proof we are dealing with a rogue platform. Stay away from these brokers as they have no bearing and are out to steal your funds.

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Disadvantages of ProudMarket

Account Funding

Users can deposit using various methods made available. These depository channels include bank wire, Maestro, and Visa. Before you deposit funds with this broker, you need to get all information about funding accounts. After making deposit, will this broker allow members to withdraw? Most members have been ruing depositing funds with this broker as they never hear from them back.

Withdrawing funds has been a major problem as no member has been able to do so. ProudMarket is refusing to grant users access to their funds. And this is where we draw the line with Proud Market. How can a broker simply vanish when you ask to withdraw funds? Account managers are to blame as they never answer calls or reply to emails. Isn’t this a pyramid scheme benefiting these scam artists?

Types of Accounts

ProudMarket Account Types

ProudMarket is furnishing users with seven different account types. Accounts are named Basic, Silver, Gold, Platinum, VIP Basic, VIP, and VIP Premium. Why should you sign up with an account and never withdraw funds from? Basic account holders are asked to deposit $250 in order to start trading. Industry set minimum standard is $250 which we know this scam is using to feign legitimacy.

Bonuses are a messy feature as scam entities will demand you pay them back bonuses issued. Why would a broker issue bonus and later ask for them? Only scam artists have this habit and they use it to steal from members. By demanding you pay back their bonus, they instigate members must deposit the paid bonus. Stay away from these scam artists or else become their next victim.

Are funds safe with ProudMarket?

How can funds be safe from a broker who fails to show any licensing details?  Why are they hiding their true identity? Did you know members are depositing funds straight to owner’s bank account? Where do they bank funds deposited by investors? Yet another chilling discovery with Proud Market, stay away!

Another perturbing issue we found with this broker is segregation of accounts. ProudMarket is pooling funds in one account which is extremely risky. Don’t expect any compensation from this broker; they don’t insure funds as expected. Insolvency can occur at any time and this broker will run off with your funds. Stay away from ProudMarket as they are simply another rotten brokerage firm committing Forex fraud.

Is ProudMarket a Scam?

After checking all the evidence produced, we are sure ProudMarket is another scam. Make sure you mark all their emails as Spam. Don’t click on any links sent by this brokerage firm.


ProudMarket Crypto and Forex Broker Review

Adding this broker to our scam blacklist will help protect our readers. Resist any calls to join their affiliate programs.

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Wishing you all the best in your Forex trading experience.


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