Progestrade has been flagged by Commissione Nazionale per le Società e la Borsa for "Unregistered/Unlicensed entity offering financial products or services|Genera...". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
I experienced a security concern with my Progestrade account and reported it immediately. Their response time was inexcusable for a financial platform. It took them four days to acknowledge my report and another week to actually address it.
Pros: Two-factor authentication|Regular platform improvements
Cons: Mobile app could be improved|Minor UI glitches occasionally
Progestrade changed their fee structure with one month notice. What was a flat fee became a percentage. For my account size it meant a huge increase. When I objected they said I could leave. So I am leaving and writing this review.
Pros: Customizable dashboard|Excellent charting
Cons: Inactivity fee applies after 12 months
The platform itself is okay, but the customer service at Progestrade 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: Stable platform|Clean UI
Cons: Onboarding videos are outdated|No dark mode on mobile
If you are reading this considering Progestrade - run. I wish I had read more negative reviews based on a colleague's recommendation. I thought the positive ones were real. Maybe some are. My experience over since the beginning of the year has been so bad I feel obligated to warn others. Do not make my mistake.
Pros: Customizable dashboard|Educational resources|Personal attention|Regular platform improvements
Cons: Website design could be more modern
After using Progestrade since last summer, I decided to move my account elsewhere. The platform was unreliable, withdrawals took an unreasonable amount of time, and I could never get a straight answer from customer service. Frustrating experience overall.
Pros: Two-factor authentication|Risk management tools|Reliable uptime|Transparent fees
Cons: Charting tools need more indicators
Several red flags with Progestrade: (1) They promise unrealistically high returns, (2) They're not registered with Commissione Nazionale per le Società e la Borsa, (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.
Cons: Flagged by Commissione Nazionale per le Società e la Borsa|Cannot verify credentials
Tried to withdraw my funds from Progestrade and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.
Cons: Withdrawal fees demanded|Communication cut off|Not authorized
I referred a friend to Progestrade after a trusted YouTuber reviewed them. We both deposited. The referral bonus never arrived. Support said we did not meet the terms. When we asked which terms they pointed to a clause that was added after we signed up. Shady.
Pros: Segregated accounts|Personal attention|Helpful community forum|Risk management tools
Cons: Some tools only available on higher tiers
My withdrawal from Progestrade was rejected three times for vague reasons. Each time they asked for more documents. When I finally provided everything, they said my account was under review. for about ten months of being strung along.
Pros: Full transparency|Segregated accounts
Cons: Some tools only available on higher tiers|Mobile app could be improved
I requested my data from Progestrade under GDPR. They sent a partial export that was missing months of transactions. When I asked for the rest they said it was a technical issue. Still waiting. They do not take data rights seriously.
Pros: Educational resources|Helpful community forum
Cons: No live chat on mobile|Charting tools need more indicators