Pro FX Coin Review: Is profxcoin.com a Scam?
Pro FX Coin is an investment broker providing a wide range of trading instruments from Forex, Binary options, Stocks, Commodities to Cryptocurrencies like Bitcoin.
Profxcoin.com is also offering LAMM investment accounts to investors who are not experienced in trading. This service works like PAMM accounts but with LAMM, investors have to open an account, fund it and copy the trading strategies of an established trader.
If you’re looking for a reliable Crypto trading service that can generate passive returns for you now and in the future, this website offers just that. It is considered one of the most reliable investment platforms mostly dealing in Cryptocurrencies trading.
Besides LAMM accounts, Pro FX Coin is also offering investment accounts known as standard, cent and ECN Prime accounts. This service should not be confused with another investment service known as FX Coin Bot. You can read the review of FX Coin Bot here.
Pro FX Coin review
Although the presentation of this site is very professional, we still believe that this site can be dangerous for your investment. The site Pro FX Coin might just harbor a couple of rogue traders with no credible history of performance.
The reason I am making this claim is because Pro FX Coin LTD is a non existence corporate entity despite claiming that they are registered. Secondly, the website claims that they have been around for the last 11 years and are registered by the Financial Commission FinaCom.
All of this information is just pure lies because I can see the domain profxcoin.com was registered in April 2019 (that’s 3 months ago and not 11 years ago) and besides, I was not able to find ProFXCoin in the database of FinaCom where they claim to be regulated.
Investment portfolio service by Pro FX Coin
This service is designed to combine a number of assets with the aim of balancing profitability with risk. ProFXCoin claims that this service provides up to 25% monthly returns but as I have pointed out before, this service cannot be trusted with figures since they have already lied about their years of experience as well as their regulatory status.
Investment portfolio provided by this broker is allegedly operated by professionals who carefully choose assets based on their stability where investors will have access to over 330 CFDs.
Other supposed benefits of this type of service is that investors can customize portfolio based on countries (i.e US, EU or Russia) or by choosing between Forex, stocks, commodities, precious metals etc. Profitability and risk levels can also be determined when choosing a portfolio.
And of course they are claiming that this investment is safe because a manager’s ratings can be viewed by the investor prior to copying their trading strategy. I have this feeling that Pro FX Coin is probably going to manipulate this information to give the impression that a manager is trading profitably.
I also don’t know whether the so-called investment managers are employees or owners of the site Pro FX Coin.
Leverage and minimum deposit
The minimum deposit is $500 which is quite high considering that most brokers have now set their minimum at $100.
This cannot be convenient for traders and investors if we consider the fact that Pro FX Coin is not a reliable site and cannot be trusted as of now.
Leverage is 1:300 which is fair but you should be careful not to accept this kind of leverage because lack of sufficient trading experience will definitely kill your account quicker than you could ever imagine.
A word on Binary Options
Binary options are an investment instruments provided by Pro FX Coin. Binary options are a subject of controversy as most brokers have used them to scam investors. They can easily be manipulated by brokers plus many countries including the US have banned trading them.
Liquidity provides
The broker claims to work with two liquidity providers known as Currenex and Swissquote. This information cannot be disputed because for a website to incorporate live trading charts, they must install widgets and price feed which should come from a liquidity provider.
Testimonials for the service Pro FX Coin
There are a couple of testimonials on this site and I am wondering why these supposed investors have not spared their time to tell their stories outside this website.
When I typed the phrase pro fx coin review on Google, I could not find any review or feedback from even one customer. There is a big chance the reviews or testimonials are fake.
Conclusion
Even though what they offer seem to be attractive, I don’t trust Pro FX Coin investment broker. I would rather pick a quality trading software here and start trading on my own instead of trusting the manager’s ratings from a site like profxcoin.com. I would rather not even dream of the possibility of shelling a whooping $500 on this site when it appeared online just the other day. They have zero reputation but please, tell us your experience if you have been with this site.