Is Prooption24 a regulated broker?

[greenlemon]

A week ago, I made a deposit of $1000 on prooption24 and have since made a profit of $440 through trading. Now, I'm considering whether to request a withdrawal, as this is my first time trading on this platform, and I'm a bit concerned about their licensing status. The trading experience has been excellent, and all the assets function smoothly. I want to continue trading here, but I'd appreciate it if anyone with prior experience on this platform could share their insights.

 

[The Cube]

No they are not regulated, and look like bad news to me. I'd withdraw your funds and not look back if I were you

 

[greenlemon]

Great news! I just received my full withdrawal. I also contacted their support team about regulations and the Prooption24 license. They provided evidence that they are regulated and have an active license in Seychelles. So, I can recommend them as a broker. I'll try trading with them again and will share my experience. Next time, I plan to use one of their top copy traders, available for selection.

 

[The Cube]

But they are not regulated. They are a scam outfit, and if you are not a shill (which I suspect you are) then you are being hoodwinked, and it will all end in tears

 

[greenlemon]

Thank you for your reply. I'm definitely not That's why I'm looking for others to share their experiences with this platform. Have you traded there before? I just made my second deposit using a credit card to stay protected, so I'll see how it goes this week and update you on my trading experience.

 

[The Cube]

They provided evidence that they are regulated and have an active license in Seychelles.

?? Really ?? Did you just take their word for it, or did you research what they told you? Have a closer look

It's not worth the risk dealing with this type of 'broker'. There are too many red flags

 

[greenlemon]

I understand your concerns, but I think there's been a misunderstanding. I've thoroughly checked and confirmed that the broker, ProOption24, holds a valid license. In fact, I just completed my second withdrawal successfully, without any issues.

I'm curious about the basis of your claim that they are a high-risk broker. Have you had any negative experiences with them, or has someone you know faced problems? Personally, both my experiences with ProOption24 have been smooth and profitable. I have encountered issues with other platforms like Binarium and IQCent, but ProOption24 has been reliable and efficient for me. Given my positive track record with them, I plan to continue trading with ProOption24.

 

[Lightning McQueen]

I've thoroughly checked and confirmed that the broker, ProOption24, holds a valid license.

Linky please. I couldn't find it.

A Seychelles licenced entity isn't that great in my view, but I concede it's a step up from Saint Vincent and Grenadines of sorts

You may not be aware their London entity registered at Hatton Garden was incorporated only 3 weeks ago.

With regard their Seychelles entity I couldn't find that, nor could the Seychelles government!

 

[andrewcraf3]

Hi guys! I want also share my experience with prooption24 and I want to confirm that they really are paying out. I am the one who received the withdraw. I have worked with many brokers in the past and I was scammed many times by another companies. The Cube maybe you can recommend my other platform who also pays out? Thanks!

 

[Riddler]

This is what The Forex Review thinks of the business, worth a read in fact a must read if you're genuinely interested and are thinking of putting more money in.

This post from a new forum user has attracted a couple of "other" new forum users, neither of whom have posted anything elsewhere on the forum and both are in full support of the broker in question indicated by their likes on the OPs positive reviews of the brokerage firm.

We're not idiots.

 

[Lightning McQueen]

To be fair that review is nearly four years out of date, and four years ago I don't believe there were any claims on their web pages
of regulation/licencing.

Skip forward to today and they are claiming licencing. There is a recent 2024 review out there in google land that claims they are not.

 

[Lightning McQueen]

Note the difference at the foot of their landing page

2020

2022

 

[greenlemon]

Note the difference at the foot of their landing page

2020
View attachment 335829

2022
View attachment 335830

What does this difference mean, and as a trader, how should I react to this information? I conducted my own research to find negative reviews or complaints from ProOption24 customers but found none. There are only a few positive reviews on Google and Trustpilot. The Cube is the only person advising against trading on ProOption24, but as far as I understand, he has never traded there himself. Lightning McQueen, do you have any previous experience trading with ProOption24?

 

[Lightning McQueen]

What does this difference mean, and as a trader, how should I react to this information? I conducted my own research to find negative reviews or complaints from ProOption24 customers but found none. There are only a few positive reviews on Google and Trustpilot. The Cube is the only person advising against trading on ProOption24, but as far as I understand, he has never traded there himself. Lightning McQueen, do you have any previous experience trading with ProOption24?

I was merely pointing out that they were not claiming any regulation in 2020, the date of the review posted by riddler.

That said and to answer your question, no I have not traded with them, I wouldn't go near them. I will post later why and what I've found.

Don't forget to post links to their licence, thanks.

 

[Lightning McQueen]

So here you are, make of it what you will.

You'll recall I said in post 8 that their Hatton Garden entity was merely 3 weeks old, imagine my confusions looking at UK Companies House documents, attempting to square the circle, looking at a supposedly 2022 webpage, with the same exact company details!

Then it was clear, a glitch in the matrix, a current page was erroneously snipped, fast forward to the punchline.

2022 (for real this time)

Notice the difference on this one. Pro Market Group Ltd and not Pro Market Group 24 Ltd as is named currently, two different companies same claimed licence.

Shall we see what happened to Pro Market Group Ltd company number 14117280

As i said, take it as you will, but anyone sending funds offshore to this shower needs to take a hard long look in the mirror!

 

[The Cube]

So there we have it. Thank you @Lightning McQueen for your investigative work. This is a scam. I stand by my initial assertion that greenlemon and his his two sidekicks (which may be the same person) are part of the scam and are shills.

For new traders, this is often how it works:

A shill will start a new post naming an otherwise obscure trading site, either singing it's praises or, as in this case, raising a concern to encourage people to read their post. What they hope and expect is that nobody will have dealt with the company, so they can then come in with some positive news to further promote said company (in this case ignoring my initial response).

They then get some supposed other users supporting their views, (as noted by @Riddler ). Their assertion that they've been scammed by other brokers and have now found a safe broker is typical, all adding to the deception.

Please be aware of one other thing; apart from the likelihood of never seeing any of your hard earned investment back, remember that the scammers will also have significant information on you, through the identification they will demand from you.

Caveat Emptor

 

[greenlemon]

Wow! Guys, thank you for your messages. @Lightning McQueen, you did a great job with the research.

However, for me, the most important thing is to receive my withdrawal. I understand that their support has been dishonest with me when I asked about their license. But as I already mentioned before, I received 2 out of 2 withdrawals. From what I know, trading can be similar to gambling websites. Some casinos have a shoddy Curacao license but payout on the same day, while some casinos and trading platforms regulated by financial institutions in the UK, Malta, or other countries hold your money and impose incredible verifications, making it nearly impossible to get your withdrawal.

So, in conclusion, based on my personal experience, prooption24 is a safe broker with whom I have received 2 withdrawals, and in both cases, I traded with profit.

 

[The Cube]

An update from the regulator..... just in case anyone still has any doubt