Website URL: https://profxmarket.com/
Regulation: Not regulated
Deposit Methods: Skrill, Neteller, WebMoney, Credit Cards
Minimum Deposit: 100 USD
Free Demo Account: Yes
Types of Assets: Forex, Cryptocurrency, Futures, CFDs, Share, Precious Metals, Indices
ProFX Market is a London based Forex broker that offers over 62 currency pairs and other trading assets. At first, there is nothing unusual here. But once you dig deeper you will realise there are so many negative reviews from unsatisfied clients. Also, half of the things are not working properly, and one of the main errors appears when you decide to open an account.
It doesn’t matter if you try to open a Demo or Live account, it will show you an error and redirect you to a non-existent page. So, the most crucial thing such as account creation isn’t available.
This is an interesting part. When you visit the website, it won’t take long until you realise that half of the links are not working. Of course, the regulation page is one of them. There is a section called Licensed Broker, but once you click on it, nothing will happen, and you will stay on the landing page. So, we can only assume that ProFX Market is not a regulated broker.
Oftentimes I don’t even mind the lack of license, but in this case, the license is mandatory, and you will see why in the rest of this review.
We have already seen this is not a legitimate broker that will offer good trading conditions. But there is one positive side, it uses MT5 which is one of the most popular trading platforms.
We assume you are already familiar with MetaTrader, so we won’t spend too much time discussing it. Basically, it’s one of the top platforms because it’s fully customisable and optimised for every device. So, this might be the only part where we do not have complaints.
Unfortunately, after a good platform comes disappointment. Customer support is one of the most important things in Forex. As expected, ProFX Market completely omitted that part. Yes, there is a Customer Support Center and it contains different methods.
You can choose between a contact form, phone number, and Skype. This is a decent amount of methods and we would be satisfied if we actually received an answer. But that never happened. We sent a message using the contact form and waited a couple of days for a reply. But we never got one. Our main concern was about accounts and registration and we wanted to see if it is possible to open an account.
So, if you are considering becoming a client, do not count on support. It’s most likely that you won’t get any help at all.
Deposits and Withdrawals
Deposit and withdrawal policy are a complete enigma here. We have seen this is not a transparent broker, so if you want to find out some information, it’s most likely you won’t be able to do that.
There is no Withdrawal Policy page or at least the Terms and Conditions page. This means we have no idea how many days the withdrawal process lasts or how long it takes to make the deposit. The only visible thing is the transaction methods. You can use Skrill, Neteller, WebMoney, and Credit Cards. Honestly, we do not see why anyone would use those methods and deposit funds when this broker is an obvious scam.
Although ProFX Market talks a lot about education, it’s a completely non-existent segment on the website. No matter the claims, you cannot find educational articles or any video lessons. There is a Demo Account, but as we already said, you won’t be able to open it.
The lack of education doesn’t surprise us, honestly. We have seen in this ProFX Market review how this broker does its business. Also, when you open the website and go to a landing page, it’s impossible to omit the fact there are so many grammatical errors. So, we fail to understand how someone can teach you important things about trading when they cannot make a proper sentence for the website.