Proxfinance has been flagged by Financial Markets Authority for "Unregistered/Unlicensed entity offering financial products or services|Fraud ...". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
Their two-factor authentication was optional when I joined. I enabled it. Later I lost my phone and could not log in. Proxfinance recovery process took 3 weeks and required notarized documents. By then I had missed important trades. Their security is your inconvenience.
Pros: Transparent fees|Automated trading options|Instant funding
Cons: Some tools only available on higher tiers
I was about to invest with Proxfinance but decided to check their regulatory status first. They claim to be regulated but I could not find them on any official register. Financial Markets Authority has actually issued a warning about this firm. Thank goodness I checked before sending any money.
Cons: Listed in warning databases|No transparency|Pressure to invest quickly
What really bothers me about Proxfinance is the disconnect between their marketing and reality. They position themselves as a premium service but deliver a below-average experience. Found them through a forum discussion and I fell for the polished exterior. Never again.
Pros: Risk management tools|Good mobile app
Cons: Research section could be deeper|Limited social trading features
I looked into Proxfinance and found they appear in the regulatory warnings database. Financial 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.
Cons: Listed in IOSCO I-SCAN|May not be authorized in your jurisdiction
After doing some research AFTER the fact (I know, I should have done this first), I discovered that Proxfinance 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.
Cons: Withdrawal fees demanded|Communication cut off|Not authorized