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Finance Proof Review – Learn More About This Scam Broker
Table of Content
Finance Proof Review, the broker is one that raised anonymity to the next level. Above all, they claim to operate from the UK with all valid licenses and there is no reason not to trust them. But the reality is different. It was necessary just to check one license for this house of cards to fall.
As a result, we did a full analysis of this broker and checked for proof that this is an investment scam.
|Minimum Deposit||150 USD|
|Broker Type||Offshore non-licensed broker|
|Spread||From 0.3 pips|
Are You Safe at Finance Proof? Regulation and Security
Since this broker claims to have licenses from IFSC ( Belize ) and FSC ( Mauritius ) we believe that they are offshore-based companies. Just to make sure, we double-checked their database and found nothing.
However, the most important part is the UK FCA license that they claim to have. To sum it up, they don’t. That is a huge mislead and clients that believe these without checking to get scammed easily.
Moreover, this broker offers extremely high leverage and bonuses that are not allowed according to any Tier 1 regulation. There are already too many red flags. In the same way, this broker claims to operate according to the MiFID II directive and that they have ASIC ( Australia ) trading license.
Yet, that is another bogus lie. For this reason, start looking for another broker on time.
Finance Proof Trading Platform
Another key point in defining this scam broker is their web-based trading platform. They don’t provide any trusted third-party software like Meta Trader or cTrader. Certainly, we are not going to trust a broker that openly lies about licensing that they have a reliable trading platform.
On top of that, it doesn’t offer any advanced trading tools, social or copy trading. That is to say, just a basic version that is not even suitable for beginners. Since the broker is not officially regulated by any financial authority, there could be manipulations of data through the platform.
Some Finance Proof broker reviews are confirmation of that. Moreover, there is no mobile app available, which is a huge downside. Mobile apps are crucial in trading timing because traders don’t want to miss opportunities.
Finance Proof Account Types Available
With Finance Proof, trading account types are quite unattractive. Notably, their only goal with these accounts is to make you deposit as much money as possible. They provide higher deposits better insurance and protection. In spite of lying about licensing, we can hardly believe that any of that is true.
Anyway, available account types are:
- Beginner – $150
- Amateur – $1.000
- Professional – $10.000
Think twice before you invest any money with a scam broker like Finance Proof.
What this broker might do to lure you into depositing more money is to offer you a bonus on your deposit. Must be remembered that these are not allowed according to regulations. Since Finance Proof broker doesn’t have a bonus policy, you can expect some guidelines along the way. The most common one is the rollover must be 25x bigger than the deposit to get a withdrawal of the funds.
Trading Instruments at Finance Proof
Despite all the negative points about Finance Proof we need to say that they offer very solid financial instruments. With spreads that start from 0.2 pips, that is quite good. Compared to some companies that are a huge advantage. However, we should take everything with reserve until we check everything on the platform.
In general, all companies offer similar assets and those are:
- Forex – USD/GBP, GBP/HKD, EUR/NOK
- Commodities – gold, oil, natural gas
- Indices – FTSE100, NKY, BE20
- Shares – Google, Tesla, Pfizer
- Cryptocurrencies – BTC, ADA, ETH
Although this might be true the leverage for these assets is very high and dangerous. Especially for non-experienced traders. In Those are 1:200, but according to ESMA rules, the maximum allowed for the EEA zone is 1:30. addition to that, this broker doesn’t offer a demo or micro account to test everything out.
Finance Proof Deposits/Withdrawals Methods
Any regulated broker provides legitimate and transparent deposit and withdrawal methods. In accordance with what this broker presents, they offer only crypto transfers. These transactions are encrypted and hardly traceable, therefore it’s risky sending any of the cryptos to an unknown and non-regulated broker.
As for withdrawal methods, if they comply with the Anit-Money Laundering policy, you need to get it in the same way as you did the deposit. Consequently, that requires additional verifications. That is exactly what scam brokers use to their advantage to scam traders.
A lack of documentation is their excuse not to release the money, therefore you can expect long procedures. If you check any Finance Proof review, you will realize that they in the end just freeze your account and vanish with your money. Hopefully, it’s just a matter of time, before regulators will issue a warning against the Finance Proof scam broker.
How Can I Get My Money Back If Finance Proof Scammed Me?
As mentioned, they are using crypto transactions instead of trusted payment providers for card transfers or bank transfers. So, to get the crypto back you need experts. Since we are working on discovering scam activities, we have developed a team that can help you with fund recovery.
Our team luckily has access to sophisticated software Cipher Trade to trace crypto transactions. To find out in detail how it works and how it could help you, contact us today. Book your consultation now!
FAQs About Finance Proof Broker
Is Finance Proof a Reliable Broker?
We can’t exclude the fact that everything on their website was fake. Starting with the license. Therefore, this broker is not reliable or safe.
How Long Does It Take To Withdraw From Finance Proof?
Since the broker is not regulated and they don’t provide any withdrawal policy processing time is unknown. Led by experience, it might take forever.
What Is The Minimum Deposit For Finance Proof?
The minimum requirement is $150. It is a bit lower than most trading companies, but without a license, we shouldn’t trust them even that amount.