Promax

I invested $1,000 with Promax after seeing their professional-looking website. At first, everything seemed fine - they showed me impressive returns on my dashboard. But when I tried to withdraw, they kept making excuses. First it was "processing time," then "verification needed," then "you need to pay a tax fee first." I never got my money back. I have since reported them to Financial Markets Authority.

After seeing ads for Promax online, I investigated. The company is listed in the IOSCO I-SCAN warnings database and has been flagged by Financial Markets Authority. Their website looks professional but that means nothing - many scam operations invest heavily in appearance. Always check the regulatory warnings before investing.

For anyone considering Promax, please be aware that this company has been flagged by Financial Markets Authority. This does not necessarily mean they are a scam, but it does mean they may not be authorized to operate in certain jurisdictions. I strongly recommend checking the official regulator website before making any investment decisions.

Promax locked my account without warning and demanded documents I had already submitted. for about eight months later I still do not have access to my funds. Their compliance team does not respond to emails. I am considering legal action.

The spread at Promax is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them after attending a webinar they hosted and initially thought the platform was good - until I started trading seriously.

After doing some research AFTER the fact (I know, I should have done this first), I discovered that Promax is not authorized by any legitimate financial regulator. They are operating illegally. The website looks very professional but it's all a facade. Please check the regulatory warnings database before investing with ANY company.