- 2023-06-21 The CySEC issued a warning against ProtechFX
On June 22, 2023, the Cyprus Securities and Exchange Commission (CySEC) added ProtechFX to its warning list, stating it does not belong to an entity which has been granted an authorization for the provision of investment services and/or the performance of investment activities: https://www.cysec.gov.cy/CMSPages/GetFile.aspx?guid=674cc20c-98ee-459e-8c71-8938ac092fab
- 2023-06-26 BrokersView has reviewed that ProtechFX is an unregulated broker
ProtechFX fails to disclose its regulatory information and licensing data, which can be interpreted as a scam indicator, as legitimate brokers always prominently display their accreditation and licenses to instill trust and transparency. This is a red flag. In an attempt to appear legitimate, ProtechFX displays three addresses in Australia, the UK, and Cyprus. According to the local law, brokers in the three countries are required to respectively seek authorization from the Australian Securities and Investment Commission (ASIC), the Financial Conduct Authority (FCA), and the Cyprus Securities and Exchange Commission (CySEC). However, our search for this company in the registers of the aforementioned authorities didn't yield any results. This means ProtechFX is operating outside the regulatory framework.
In addition, the CySEC has added ProtechFX to its warning list, stating it does not belong to an entity which has been granted an authorization for the provision of investment services and/or the performance of investment activities.
In essence, ProtechFX is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. It is unequivocally a scam.
ProtechFX fails to disclose its regulatory information and licensing data, which can be interpreted as a scam indicator, as legitimate brokers always prominently display their accreditation and licenses to instill trust and transparency. This is a red flag. In an attempt to appear legitimate, ProtechFX displays three addresses in Australia, the UK, and Cyprus. According to the local law, brokers in the three countries are required to respectively seek authorization from the Australian Securities and Investment Commission (ASIC), the Financial Conduct Authority (FCA), and the Cyprus Securities and Exchange Commission (CySEC). However, our search for this company in the registers of the aforementioned authorities didn't yield any results. This means ProtechFX is operating outside the regulatory framework.
In addition, the CySEC has added ProtechFX to its warning list, stating it does not belong to an entity which has been granted an authorization for the provision of investment services and/or the performance of investment activities.
In essence, ProtechFX is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. It is unequivocally a scam.
- 2023-07-16 The Italian CONSOB orders the blackout of ProtechFX website
On July 17, 2023, the Italian Companies and Exchange Commission (CONSOB) has ordered ProtechFX's website to be blacked out since it offers financial services illegally. https://www.consob.it/web/consob-and-its-activities/warnings?viewId=ultime_com_tutela
On July 17, 2023, the Italian Companies and Exchange Commission (CONSOB) has ordered ProtechFX's website to be blacked out since it offers financial services illegally. https://www.consob.it/web/consob-and-its-activities/warnings?viewId=ultime_com_tutela
- 2025-10-13 BrokersView has identified that ProtechFX's website is currently offline
BrokersView found that the domain "https://protechfx.com/" is currently inaccessible. This is widely regarded as a significant red flag, as the suspension of a broker's website often points to underlying regulatory or operational issues.
BrokersView found that the domain "https://protechfx.com/" is currently inaccessible. This is widely regarded as a significant red flag, as the suspension of a broker's website often points to underlying regulatory or operational issues.
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