1. Promax: How To Recover Money From Promax

September 11, 2022 / Zorya Capital / 0 Comments

In recent times, we have had a lot of complaints about a hedge fund called Promax, it has been brought to our attention that there’s a fraudulent scheme going on there with the aim to steal from investors. The FCA also confirmed in their publication that Promaxtrading.com is a scam platform. Just to clear any doubts, Promaxtrading.com is a SCAM.

If you have been scammed and you are looking for ways to recover your money from Promax, visit the The Capital Co (www.thecapitalco.net) website at www.thecapitalco.net.

Your funds could vanish with Promax. Additionally, you run the danger of losing more cash than you initially put up. Furthermore, the scheme does not partner with a trustworthy bank. The website’s activity is not monitored by anyone.

Promax steals the show with its compelling material. The organisation seeks to persuade everyone that it is authorised. not just in one nation, but everywhere in the cosmos. The enterprise, however, does not offer proof to back up its assertions. The scheme’s assertion that it is a reputable broker in the market is another blatant falsehood.

Promax Company and Review

The company just entered the market. The domain name was registered privately. On top of that, this is the first we’ve heard of the platform. Even the volume of website visitors demonstrates how unpopular this idea is. It demonstrates how shady the plan is to extort money from uninformed investors.

Promax is said to have more than 60 marketable securities. They only bring up these products, which is a concern. Despite the scheme having a stronger trading interface, we cannot be assured that trading is occurring.

This website lacked transparency. The platform is surrounded by a lot of red flags. Steer clear of the $50 big welcome bonus. You must comply with outrageous conditions in order to be eligible for a withdrawal. The major goal of the venture is to prevent customers from cashing out.

Review of Promaxtrading.com

The organisation doesn’t employ experts. Promax is requesting investment even though they have no prior trading background. The organisation does not offer educational resources to help customers comprehend how the financial market operates.

Pick a broker who is committed to helping you improve your abilities and become a better trader. To lure in additional victims, scammers utilise enticing advertisements. We are not shown the entity’s previous trading performance. You ought to be aware of what you are committing to.

Promax demonstrates that you don’t need a lot of money to start up. However, a number of flaws and warning signs show that this is a risky business. Make sure the forex trading company you select is trustworthy and open. It would be beneficial if you had better trading circumstances and fund safety without having to worry about security breaches.

Trading Conditions for Promax

Promax provides the MT4 and MT5 trading platforms. Many people adore reliable software. It has a number of cutting-edge features. By modifying EAs, investors can execute trades automatically. VPS can be used to monitor your trading orders as well. The platform enables you to simultaneously access several markets.

You are assisted on your path to success by economic calendars, superior indicators, and fundamental and technical analysis. Access to the MT4 and MT5 does not, however, establish that this platform is legitimate. Offshore businesses occasionally employ this tactic to ensnare more victims.

Promax Features and Review

Promax has four trading accounts. Ironically, investors will get leverage of 1:500 on their basic account while the maximum leverage for the earlier advance packages is 1:100. Inexperienced traders shouldn’t use such high leverage. They lack the know-how and market expertise.

With these trading conditions, the entity entices customers to manipulate and steal from them. Additionally, leverage between 1:30 and 1:50 is dangerous. Either you’ll experience significant losses or rewarding gains. It’s crucial that you deal responsibly.

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Additionally, the broker is giving misleading information. It states that it provides a spread of 1.8 pip. On the software, we can see 2 pip, though. The limit does not yield a profit. $20 will be required to open a trade. The market standard is 1.5 pip on average. But there are better investments with small spreads out there.

Transfer and Deposit

Promax states that a $10 minimum deposit is required for all accounts. Such errors are unacceptable and should not be tolerated. Real brokers offer many accounts with their own pricing. Information regarding the goods that customers can exchange is omitted by the entity.

The company advertises bonuses to customers. Several jurisdictions forbid profitable prospects. Wire transfers, Skrill, WebMoney, Neteller, credit cards, and Bitcoin are all payment methods available to investors. However, Perfect Money and cryptocurrency payments are the sole choices.

Scammers frequently offer a variety of deposit options but fall short. They make decisions that let them maintain their secrecy. Their decision will also prevent you from issuing a chargeback. Be cautious and avoid engaging in such endeavours.

$50 is the minimum withdrawal amount at Promax. You must pay a $10 fee if the criterion is not met. A minimum trading volume of 3.0–1K is also required. 15% of the total amount is due if the deadline is not met. This is sufficient evidence to show that the broker only has your money in mind.

Contact information and customer service

Promax provides a physical address, contact information, and email address. When you have a question, you can contact the entity via these methods. Unfortunately, there are no client testimonials for the programme. We don’t know what level of client service to anticipate.

However, the majority of con artists use a subpar, dishonest staff. Only when they require additional funds will they contact you. The businesses block the clients’ phone numbers once they have finished taking advantage of them. The schemes are rendered impossible to reach.

Only trustworthy and legal investment firms are able to provide you with high-quality services. The staff is knowledgeable and responds quickly to client concerns. It won’t take you long to resume trading.

Regulatory Status of Promax

The parent firm of the broker is based in Saint Vincent and the Grenadines. The place has a reputation for facilitating scams. Brokers working out of the nation do not adhere to any regulations. The financial market is not regulated by the local financial watchdog.

Working capital is not available at Promax. As a result, the strategy can fail. Brokers must demonstrate to the regulatory organisations that they have a significant quantity of capital in order to continue their operations without abusing the money of their clients.

There are several financial institutions on the market to guarantee the security of investors. Genuine brokers have no trouble adhering to these authorities’ regulations. The National Future Authority (NFA) and the Commodities Future Trading Commission are both institutions in the USA (CFTC). The Financial Conduct Authority is the organisation in the UK (FCA).

The Australian Securities and Exchange Commission and the Cyprus Securities and Exchange Commission (CySEC) are two more reputable financial watchdogs (ASIC). These are the organisations that make sure the market is friendly. Legitimate platforms cannot abruptly leave the market. Additionally, their trading conditions are superb. Promax is unsafe and unregulated.

Maxim Fund Security

Customers’ funds are not safe with the company. Information about venture ownership is scarce. The parent corporation is headquartered overseas. We are unaware of Promax’s perpetrators. Knowing you can rely on trustworthy account managers inspires confidence. It will be tough to find the company if it vanishes from the market.

Further, there is no evidence of payment. The company is lacking customer opinions. Investors should be aware of how prior customers of the company have fared. They will teach you about the standard of customer service and whether the brokers make timely payments.

Final Conclusion

Promax is a sketchy and anonymous Ponzi scheme. The new investors are the venture’s target audience. There is no evidence of payment, and the organisation is not licenced. Without the offshore broker, your situation is improved.

We have you covered if you require a dependable and honest business. The top FX brokers on the market are listed here. Trading in a favourable atmosphere will result in passive income for you. Today, give them a try, and let us know how it goes!

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To recover your money from Promax, consult the asset recovery experts at The Capital Co (www.thecapitalco.net), with an excellent record in fund recovery, your case won’t be an exception. Contact The Capital Co (www.thecapitalco.net) now.