Read our Probtc review to see if this broker is a scam or legit. Just to clear doubts, this is a probtc.online review.
The trading world has become very competitive nowadays, as there are millions of people from different parts of the globe who are engaging in online trading. Therefore, there is no need for you to settle for anything less than the best when it comes to choosing a brokerage for your trading needs. Of course, each of the companies you find will promise to be the best, but you have to do your own research and assessment to determine their suitability. This is where you can benefit from this Probtc review because it provides you some essential details about this brokerage.
Making your decision based on the website of the broker alone is a mistake because you should remember that not all companies in the market are authentic. Internet scams are nothing new; they have been happening for decades and still do. Posing as online brokers is also one of the tactics that these cybercriminals have adopted because it gives them access to a massive pool of victims. Many people are so confident that it wouldn’t happen to them that they do not bother doing any research and have to suffer for this mistake.
You certainly do not want to find yourself in the same scenario, so it is best to research and assess first in order to ensure you are not falling into the claws of a fraudulent brokerage. Their numbers have also multiplied, which means you need to be very cautious because they know just how to disguise themselves. If you do not know what to look for, you can take advantage of this review to help you identify just how a brokerage can be a fraud. It focuses on Probtc, which claims to be a legitimate company that is offering trustworthy and transparent services to traders. But, is it?
Let’s check it out to find out more:
License and regulation
The easiest way for you to assess the reliability and trustworthiness of any online brokerage is to check their license and regulation. A company that has a license to provide its services and is properly regulated by a reputable authority can be trusted because it will maintain high standards of service and will also offer transparency and security that traders desire when trading online. Where does Probtc come in?
You will not find any mention of regulation on the Probtc website and it becomes apparent quickly that the brokerage is not licensed in any capacity. If you find out where it is based, you will discover that it is registered in the Marshall Islands. This is of no value because this is an offshore jurisdiction that does not regulate its forex industry and cannot offer you any kind of protections that you would be provided if you were to choose a properly licensed and regulated company. Therefore, they have become a hotspot for scams and it is best to avoid a platform that claims to be based there.
Terms and Conditions
It is never wise for any trader to choose a brokerage without taking a look at their Terms and Conditions because you need to know what you are agreeing with. These usually outline the policies you will have to comply with and the fees you will be charged. It ensures that you do not have to face any surprises down the road. It is a good idea to do so in the case of Probtc as well because it reveals that they have every intention of charging you high fees for withdrawals.
How? You will come across a very vague clause in the Terms and Conditions of Probtc, which shows that the broker plans on charging you withdrawal fees. The problem is that they have not given any hints on how much they intend to charge. This means they can charge you through the nose and you will not be able to do anything about it, having agreed to it in the first place.
Another thing you will discover in the Terms and Conditions is that Probtc is also offering high deposit bonuses, but what seems to be missing is their bonus policy. This is quite worrying because these bonuses usually come with strings attached, due to which they are banned in most jurisdictions. The fact that they are being offered at Probtc should immediately warn you to expect surprises in the future.
One of the most vital features offered by any online broker is the trading platform because this software is needed for executing trades in the financial markets. You obviously want a quality and advanced trading platform, but it does not seem that Probtc is offering you one. When you check out their platform, you will be disappointed to see that it is an uninspiring and simple web trader.
It does not even come close to the advanced and powerful MT4, MT5 and cTrader platforms that have gained recognition all over the world and are a popular choice of traders. The Probtc web-based platform is one that plenty of fraudulent and scam brokers offer and does not have anything special to offer.
Leverage and Spreads
You need to check the trading conditions of a broker before deciding to open an account with them because these conditions directly affect the profits you make at the end of the day. The leverage that you will find at Probtc goes as high as 1:200 and this might be impressive to some, but you should not forget that such leverage ratios also come with high risks.
This is why most jurisdictions have imposed a cap on the amount of leverage that can be offered to traders and such high levels should not be available. Likewise, you will also discover that Probtc also offers high spreads that will only increase costs and they keep on changing quickly as well.
The lack of regulation, the vague fees and no mention of a bonus policy and other problems indicate that Probtc is likely a fraudulent brokerage that you should steer clear of.