Table of Content
Grow Pro Markets Review – The Scam Behind This Broker
Table of Content
Grow Pro Markets broker presents itself from the UK. At least with the address on the website. To be able to provide FX and CFD trading services, they should have an FCA license. In this case, we always check the database and information.
Firstly, they are not based in the UK but in St. Vincent and Grenadines. Secondly, they don’t have any license from SVG since this country dissociated itself from providing trading licenses. Thirdly and most importantly, they don’t provide even any other Tier 1 Regulator license. For example, FCA, BaFin or ASIC.
|Headquarters||St. Vincent and Grenadines|
|Minimum Deposit||250 EUR|
|Spread||From 0.2 pips|
How Are You Protected at Grow Pro Markets?
Not only that they don’t provide a license for trading, but also violate all trading regulations with very high leverage. So, practically if they are doing anything good they would have a license. However, with this broker everything is fictive. Therefore, your funds are exposed to extremely high risk. As a result of taking those risks, clients get very easily scammed.
Moreover, there are multiple warnings issued by financial institutions from Europe. In this case, those are CNVM ( Spain ), CONSOB ( Italy ), and A- TVP ( Slovenia ). We can only prevent traders from being scammed by sharing customer experiences and analyses like in this Grow Pro Markets broker review.
Available Trading Software Overview
In addition to everything said, their trading software is another speculative topic. For the purpose of this Grow Pro Markets review, we investigated the platform and registered with the broker. As per the website, they offer an industry-standard Meta Trader 4. However, what you find when you register is just a web-based trading platform.
That is to say already misleading. We couldn’t expect anything more from this scam broker. On the other hand, this web trader has a wide range of TA tools and features. Above all, it’s nothing like MT4 or MT5 that provide advanced features like social or copy trading.
Regardless, these web-based platforms are often manipulated by the broker. That is with the idea to lure clients into believing that they are making money. Or not if it suits to broker more.
Equally important are very risky trading conditions. As a result, non-experienced traders get scammed very easily.
Account Types Offered by Grow Pro Markets
Furthermore, this broker offers a vast of trading account types. Investment scams work on the same principle. To get clients to put in as much as possible. Unlike licensed brokers, scam brokers are offering better trading conditions when you have more money in your trading balance.
Those better conditions are divided into 6 account types:
- Standard – 250 EUR
- Bronze – 2.500 EUR
- Silver – 10.000 EUR
- Gold – 50.000 EUR
- Platinum – 200.000 EUR
- Diamond – 500.000 EUR
Nevertheless, we hope that there is nobody who will believe these bogus scammers and invest with a trading company that doesn’t have a license for trading.
Market Instruments Traded at Grow Pro Markets
Despite everything bad, this broker offers very good financial instruments for trading. However, it is disappointing that you can’t have trust in such a broker to take an advantage of those assets and make money.
In this case, the broker offers 5 different instrument classes:
- Forex – GBP/SGD, USD/SEK, AUD/CAD
- Commodities – oil, cotton, platinum
- Indices – DJI, DAX30, CAC40
- Shares – Apple, Microsoft, Tesla
- Cryptocurrencies – BTC, BCH, ADA
After all, this broker is just another offshore anonymous investment scam. We shouldn’t trust any data presented about these assets whatsoever.
While this broker offers bonuses and these are banned in any regulated country, this is another sign of a scam. If you accept bonuses from the broker, you need to make at least a 25x rollover of your initial deposit to get the chance for a withdrawal. Be cautious!
Deposit and Withdrawal Procedures
In addition to all mysteries that we discovered in this Grow Pro Markets review, withdrawals are another one. However, for deposits, the broker only offers a bank transfer. Even though, they have promised acceptance of a credit/debit card.
Unlike some regulated brokers who provide transparent deposit options, this one only gives you information when you are on the line with an account manager. Therefore, you can expect high pressure and the possibility to be urged to a third-party payment provider where your information is not safe at all.
According to the broker, they don’t charge withdrawal or deposit fees. At the same time, Grow Pro Markets reviews are disclosing that this broker has a fee for a withdrawal. That’s called a withdrawal fee scam.
How Do I Recover My Money If Grow Pro Markets Scams Me?
The broker tells you that you need to pay money clearance or taxes. If they have a withdrawal fee, in reality, they can take money out from the profits. On the other hand, for taxes, you are not paying the broker. You are paying your government for earned income.
For one thing, we are sure that if you pay any of these fees you will not hear from the broker again. That is the case when you come to this stage where you can request a withdrawal.
Since they are not regulated brokers, the only way is to look for finance experts. Our expert team helps people recover money for years now. There are various options depending on the method that you have used. Don’t waste any more time. Contact us today, to get a consultation about your first steps!
FAQs About Grow Pro Markets Broker
Is My Money Safe with Grow Pro Markets?
Definitely not. They are an offshore and non-licensed broker. They don’t comply with any laws and regulations, therefore nothing is clarified with this broker.
Does Grow Pro Markets offer Demo Account?
To sum it up, no. Even live trading accounts are speculative since brokers openly lied about the availability of Meta Trader 4.
What Are The Funding Methods For Grow Pro Markets?
Initially, the only deposit method is via bank transfer. However, it’s not excluded that in the call with the account manager, you get offered other options.