On the ProaktivMarket website, you can’t find even the most basic information about the company, and to “contact” them, you need to give them your email and phone. In contrast, they don’t provide single information, not even naming a specific legal entity. The exact location they operate from has a couple more firms operating, and some of them have already been proven to be a scam.
|Broker status:||Unregulated Offshore Broker|
|Regulated by:||Unlicensed brokerage|
|Blacklisted as a Scam by:||CNMV (Spain)|
|Headquarters Country:||Saint Vincent and the Grenadines|
|Supported Platforms:||Web trader|
|Cryptocurrencies:||Available (BTC, ETH, XMR ) – total 19|
|Types of Assets:||Forex, stocks, cryptocurrencies, commodities and ETFs|
|Free Demo Account:||No|
|Accepts US clients:||Yes|
What About ProAktivMarket Regulation?
ProAktivMarket is a firm registered in Saint Vincent and the Grenadines (SVG ). SVG is an offshore jurisdiction in the Caribbean where companies enjoy limited regulatory supervision, if any at all. The SVG Financial Services Authority (FSA) regularly issues warnings that it does not regulate, monitor, supervise or license forex trading or brokerage.
That’s why we always advise potential traders to avoid offshore companies and to invest with brokers regulated by reliable authorities.
In addition, we strongly advise you not to invest in CrypNetEasy, Crypto Trade Corp and SwissMarketFX fraudulent brokers.
ProAktivMarket Warnings From Financial Regulators
ProAktivMarket has been accused of scam by the Spanish regulator Comisión Nacional de Mercado de Valores (CNMV). It is stated that a broker is unregistered and isn’t authorized to provide any investment services. We advise all potentially interested not to invest with them as there is no guarantee of the safety of investors’ fund
Fund Withdrawal Issues
Since the company itself is unregulated and follows no rules, your chances of being paid out are almost non-existent. Based on numerous reviews, this is the number one issue. The broker seems to have a method where once you ask for a withdrawal, the account manager in charge will try to dissuade you, and if you keep insisting, your money will be put on hold for a potential payout which will never happen.
If you have had this or a similar problem, please let us know to help you.
Also remember the names of the Agfia, Forex Steady and LTMTrade trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!
Areas Of ProAktivMarket Scam
From what we have seen, the victims are usually people from Germany and other German-speaking territories, but also the UK, Spain, and the US.
Traders About ProAktivMarket Scam
The majority of clients have been scammed, so it is no surprise that reviews are negative. Traders mostly complain about the issue with the withdrawal of funds. Even if they made some money, there was no way they could get it as the funds were always on hold even after weeks of waiting.
Other issues included problems with customer support who were offering help only to new clients and also constantly calling users to pressure them to invest more money.
If you’re considering investing, look for a licensed company since only those with compensation funds for unfavorable outcomes.
How Does This Online Trading Scam Work?
ProAktivMarket and similar companies work through internet ads promising quick and easy profit from various types of trading to a potential trader. They pressure users to enter their personal information, such as their phone number and email.
Once the user submits this information, they will start receiving unsolicited calls from illegitimate broker representatives whose job is to convince them to make their first deposit. This type of fraud usually puts in an extensive effort so the people would not recognize it as a scam until they miss the limited period for filing a chargeback with their bank.
Scammed by ProAktivMarket? – Tell Us Your Story
If you were scammed by ProAktivMarket or a similar suspicious brokerage company, let us know. Our specialists are open to hearing your story with the aim of helping you find the best way to get your money back.
But What Is A Chargeback?
The chargeback is the only way for your bank to reverse fraudulent online transactions and for you to get your money back. For more information about this process, please contact us via online chat and book your free consultation.