Grow Pro Markets Review, This scammy broker will quickly drain your funds. With anonymous operations, it’s not worth risking your money with a firm that can’t be trusted.
Despite their claimed regulation and use of MetaTrader4, a closer look at their website reveals a lack of credibility. Stay away from this broker, and our Grow Pro Markets review will tell you why.
|Blacklisted as a Scam by:||CNMV, CONSOB, A-TVP|
|Broker Owner:||Grow Pro Markets|
|Headquarters Country:||439 Oxford Street, London/ SVG|
|Online Trading Platforms:||web-based platform / fake MT4|
|Minimum Deposit:||250 EUR|
|Crypto Asset Trading:||Yes|
|CFD Trading Option:||Yes|
|Available Trading Instruments:||FX, Commodities, Indices, Shares, Cryptos|
|Free Demo Account:||Yes|
|Accepts US clients:||Yes|
|Warning:||CNMV, CONSOB, A-TVP|
How Safe and Regulated Grow Pro Markets Investments Are
At first glance, one may think that Grow Pro Markets is a straightforward and simple trading platform. Why? Well, they promise top-notch trading tools, exceptional security measures, transparent service, and excellent customer support. However, there’s more to this story.
Upon further research, we found some strange things. Grow Pro Markets claims to have a physical address in London, UK, yet we couldn’t find any proof to support this claim.
In the Terms, you can only see this address – Saint Vincent and the Grenadines. Also, we scoured through their legal documents to see if they were regulated by any authority, as they claim to be under the Financial Conduct Authority (FCA) – the UK’s regulatory body. Yet, to our surprise, this broker was not in the FCA’s database.
You should note that the Spanish financial authority, CNMV, recently issued a warning against Grow Pro Markets. This warning states that they are operating without proper regulation and authorization.
Trading Platforms Available
Grow Pro Markets provides a demo account option. This is by all means odd. This feature is a must-have for any broker. Still, even though their web-based platform looks pretty neat, it has nothing to do with the MT4 platform.
You should trade with brokers who support the MT4 or MT5 platforms. These platforms are proven to be the industry standard and for good reason.
Account Types at Grow Pro Markets
Grow Pro Markets may present themselves as a beacon of financial prosperity. Yet, there is more to this! Beneath their shiny exterior lies a darker truth. Their 7 account types – Standard, Bronze, Silver, Gold, Platinum, and Diamond – are wrapped in a cloud of suspicion.
This leaves many people questioning their legitimacy. As a broker, they are nothing more than a mirage, luring new traders into a world of trickery and financial turmoil.
Deposit and Withdrawal Methods
At GrowPro Markets, the deposit process is not clear at all. They only seem to accept bank wire transfers, despite promising the option of card deposits. To access payment details, you must contact an account manager.
This definitely leaves the door open for the chance of being urged to use a different payment method. With wire transfers being mostly irreversible, depositing with this broker may leave you with limited options for getting your money back.
The broker claims they don’t charge deposit and withdrawal fees. However, other fees appear out of nowhere. A $30 inactivity fee is imposed after 60 days without activity. Also, note that a hefty $75 quarterly maintenance fee adds up quickly.
Similarly, each executed trade incurs a 1% clearance fee, which may not seem significant but can take a toll on your bottom line over time. The pack of fees at GrowPro Markets may make for a less-than-thrilling investment experience.
How Does The Scam Operate?
Beware of those scammy sites that look legit at first. They are, in fact, nothing more than well-disguised scams. These sites aim to deceive and mislead, posing as legit brokers when they are anything but.
Once you provide your contact details, you may be bombarded with constant calls from trained scammers. Keep in mind that their promises are nothing but empty words. Moreover, you will likely never see a return on your investment. Withdrawing your funds may also prove to be a challenge.
It’s essential to remember that these scams can happen to anyone, regardless of experience or knowledge. If you find yourself in this tragic situation, do not be ashamed to report the scam. Your immediate action can prevent others from falling victim to these fraudulent schemes.
The Finest Forex Brokers
In the table below, you will find a curated selection of the finest forex brokers. Trading with these top-notch providers will bring a new level of satisfaction to your investments.
|FXTM Broker||Cyprus, UK, Mauritius||4.5||$10||Forextime.Com|
|OctaFX Broker||Cyprus, SVG||4.4||$100||OctaFX.Com|
|FP Markets Broker||Australia, Cyprus||4.7||$100||FpMarkets.Com|
|XM Broker||Cyprus, Belize, Australia||4.7||$5||XM.Com|
|HFM HF Markets Broker||Cyprus, UK, South Africa, UAE, Kenya||4.3||$5||HFM.Com|
|FBS Broker||Cyprus, Belize, Marshall Islands||4.85||$100||FBS.Com|
Grow Pro Markets Summary
Last but not least, always be cautious when considering investment opportunities, particularly in the FX market. This broker here, which shall not be named, has multiple warnings against it and is widely recognized as a scam.
Before entrusting any entity with your money, it is crucial to research and verify their credibility and track record. Investing your money is an important decision that should not be taken lightly. So, always protect yourself by avoiding entities with questionable reputations.
FAQs About Grow Pro Markets Broker
What Funding Methods Does Grow Pro Markets Accept?
Based on the data available, Grow Pro Markets only seems to accept wire transfer deposits. However, they made many false promises.
How Long Do Grow Pro Markets Withdrawals Take?
There is no information available on the withdrawal time for Grow Pro Markets. Given its reputation as a broker scam, you should avoid them altogether.
Is My Money Safe with Grow Pro Markets?
It is not safe to invest money with Grow Pro Markets. It is best to thoroughly research and verify the legitimacy of every broker.