Pratacom has been flagged by ASIC (Australia) for "Unlicensed (Legacy)". Phones: 1 312 3795968, fax 1 312 277 3512
Addresses: 123 South Wacker Drive Chicago IL 60654 USA This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: www.pratacom.com.
After for the past year and a half with Pratacom I requested to close my account and withdraw. They said I had to complete a 30-day cooling-off period. Then they said there was a minimum holding period for my last deposit. They make it as hard as possible to leave.
Pros: Educational resources|Competitive fees
Cons: Limited cryptocurrency options
I have been trying to close my account with Pratacom for weeks now and they keep giving me the runaround. First it was a form to fill out, then identity verification again, then a mandatory phone call that never gets scheduled. They make leaving impossible.
Pros: Market news feed|Comprehensive tools|Personal attention
Cons: Would like more payment methods|Search feature is basic
My withdrawal request from Pratacom has been pending for over two weeks now. Every time I contact support, I get the same copy-paste response about processing times. This is unacceptable for a financial platform in this day and age.
Pros: Good mobile app|High security standards|Market news feed|Quick verification
Cons: Minimum deposit could be lower
I had a dispute with Pratacom and went to their complaints process. They have an internal team that just defends the company. Then they said I could go to an ombudsman - but the ombudsman they use is industry-funded and rarely rules for the client. The system is rigged.
Pros: Good mobile app|Demo account available|Easy withdrawals
Cons: None so far|No live chat on mobile
I lost a significant amount because Pratacom did not execute my stop loss during a flash crash. They said the market was illiquid. Other brokers managed to execute. I have no proof they did not trade against me. Avoid.
Pros: Comprehensive tools|Easy to use platform|Transparent fees
Cons: No crypto staking|Inactivity fee applies after 12 months