Protectionline has been flagged by Financial Conduct Authority for "Unregistered/Unlicensed entity offering financial products or services". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
Protectionline 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: Instant funding|Great customer service|Demo account available|Fast deposits
Cons: Would like more payment methods|Alert system is basic
I want to warn everyone about Protectionline. They have been flagged by Financial Conduct Authority as an unauthorized entity. I wish I had checked before investing. They use high-pressure sales tactics and fake testimonials. Once you send money, getting it back is nearly impossible.
Cons: Withdrawal fees demanded|Communication cut off|Not authorized
I was about to invest with Protectionline but decided to check their regulatory status first. They claim to be regulated but I could not find them on any official register. Financial Conduct Authority has actually issued a warning about this firm. Thank goodness I checked before sending any money.
Cons: Unauthorized firm|Found in IOSCO warnings database
After spending for about ten months trying to make Protectionline work for me, I have given up. The platform has too many limitations, the fees are not competitive, and the quality of their market data is questionable. There are much better options available.
Pros: Dedicated account manager|Helpful community forum
Cons: No fractional shares
The hidden fees at Protectionline are the real scandal here. What they advertise and what they actually charge are two different things. By the time I realized how much I was paying in various fees and spreads, I had already lost a meaningful amount.
Pros: Low minimum deposit|Demo account available|Multi-currency support|Great customer service
Cons: Onboarding videos are outdated