ILLEGAL BROKER: Pro Funds Eu review

Profundseu review

In this review we explain why you should not trade financial markets with the ProFundsEu broker.

What is Pro Funds EU

Pro Funds Eu is a trading firm (broker) that will let you trade currency pairs on Forex, metals, energies, agriculture commodities, stocks, indices and digital coins such as Bitcoin, Ethereum and Litecoin.

You can trade with a leverage up to 1:300 and you will even get a 10-25% deposit bonus to your trading account. The minimum deposit amount to open a real trading account is 250 USD.

Pro Funds Eu is based in London, United Kingdom. But is it a legit and trustworthy broker that you can trade financial markets with?

ProFundsEu is illegal

The main reason for our review is that Pro Funds Eu is an illegal broker that is breaking the laws in at least three countries. See our detailed explanation below.

Unauthorized at home

The first thing every broker has to do is to register and get a license in the country it is located in. Pro Funds EU claims to headquartered in the United Kingdom, so it needs an authorization from the Financial Conduct Authority (FCA).

But the broker is not authorized by the FCA. The conclusion is very simple here, Profundseu is an illegal broker that is breaking the laws of the United Kingdom.

It also means that deposits with this broker are not protected by the compensation fund or in any other way.

Illegal in the UK

Blacklisted in France

On its official website profunds.eu says that it is a broker with “an excellent international reputation”. But that is a lie because it is offering its services in different countries without being authorized to do so.

One example is France. The French financial regulator AMF has warned the public that Pro Funds Eu is soliciting residents of France although it has not been authorized.

In other words, the broker is breaking the laws in France.

Blacklisted in Spain

Pro Funds Eu is guilty of the same offence in Spain. The local financial regulator CNMV has warned that the broker is providing its investment services to people in Spain without having the license that would allow it.

So Spain is the third country where Pro Funds EU is breaking the laws and acting illegally. Brokers have to know that they need a license valid in every country they are targeting with their offers.

Not respecting investment and other laws means that the broker can’t be trusted.

Why you have to stay away

As we have demonstrated in this review, ProfundsEU is a broker that has a bad international reputation because it is breaking the laws in at least three countries in Europe.

The broker is no authorized at home in the United Kingdom and financial regulators in France and Spain have warned against it.

Money you deposit with Pro Funds EU will not be protected in any way, the broker can disappear with your money any time because it is not regulated at all.

Scams are far more frequent among unregulated brokers than with the regulated ones. Also, in many countries deposits with regulated brokers are protected.

Because ProFundsEU is a broker that is breaking the laws, you should stay away from it.

The illegal offer

ProFundsEU review – Conclusion

Pro Funds EU is an unregulated broker that is illegal at home in the UK and blacklisted in France and Spain. You should stay away from it because the risk of losing your deposit is pretty high.

For financial trading we recommend using regulated brokers that offer a free demo for you to try everything out.

Trading with real money is risky, so be sure to fully understand that if you wish to switch from the demo to a real account.

Please share this review to help inform other people.

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