Proficator has been flagged by Financial Services and Markets Authority for "Fraud and Other Types of Misconduct". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
Proficator had an outage that lasted several hours during a major market event. Not only did they fail to prevent it, but they also failed to communicate what was happening. We were left in the dark while our investments were at risk.
Pros: Portfolio tracking tools|Professional team
Cons: None so far
If you are reading this considering Proficator - run. I wish I had read more negative reviews after my brother mentioned them. I thought the positive ones were real. Maybe some are. My experience over for close to eighteen months has been so bad I feel obligated to warn others. Do not make my mistake.
Pros: Professional team|Multi-currency support|Easy to use platform
Cons: Inactivity fee applies after 12 months|Could offer more webinars
Their execution during news is terrible. I had limit orders in place. When the news hit, my orders were not filled at the limit price - they were filled much worse. Proficator said it was market conditions. Same news, another broker filled me properly. They are not honest.
Pros: Automated trading options|Risk management tools
Cons: Desktop app not available on Linux
I looked into Proficator and found they appear in the regulatory warnings database. Financial Services and Markets Authority has issued a notice about this firm. Whether this is a misunderstanding or a serious concern, the fact remains that proper due diligence is essential. Always verify the regulatory status of any company before investing your hard-earned money.
Pros: Information is publicly available for verification
Cons: Flagged by international regulators|Due diligence required
I was contacted by Proficator through social media. They promised guaranteed returns of 20-30% monthly. Being naive, I invested. The "account manager" pressured me to invest more and more. When I finally tried to take profit, my account was frozen and they stopped responding. Classic Ponzi/advance fee fraud.
Pros: Initially responsive customer service
Cons: Lost entire investment|Reported to authorities|Unresponsive
The platform itself is okay, but the customer service at Proficator is truly awful. I waited weeks for a response to a simple inquiry. When they did respond, it felt like a generic template that did not address my specific issue at all.
Pros: Tax reports included|Demo account available|Comprehensive tools|Economic calendar
Cons: Spreads widen during volatile periods|Inactivity fee applies after 12 months
Several red flags with Proficator: (1) They promise unrealistically high returns, (2) They're not registered with Financial Services and Markets Authority, (3) Their contact information is vague, (4) They pressure you to deposit quickly. I recommend everyone do thorough due diligence before investing with any company.
Pros: Website looks legitimate on the surface
Cons: Unauthorized firm|Found in IOSCO warnings database