Protonforex.com is not regulated and should be avoided at all events. Checking its website interface, we noticed several red flags that investors should be wary of. Firstly, Protonforex.com showed on its "Privacy Policy" that its Privacy Statement is dated 5th February 2016. That means the company must be established before or not late than 2016. However, when we checked its domain, the result shows the firm was newly created in 2021. It is unreasonable for a company's policy occurred before the existence of the company itself.
Besides, Protonforex.com claims that it adheres to the highest standards of EU financial markets and is accredited by financial Regulations Authorities. However, it lists no any regulatory certifications or governmental registrations on its website. Lacking for such licenses and certifications is always the biggest red flag as all legal brokers will provide their credentials to help you verify they are registered and regulated.
Most importantly, as a UK-based firm domiciled in Birmingham, this broker is actually not overseen by the UK's Financial Conduct Authority (FCA), which is inconsistent with related laws in the UK, therefore definitely means Protonforex.com is not legitimate.
As per the evidences above, our final conclusion is that Protonforex.com is thoroughly a scam on account of running its business without any relevant license approved by a reputable regulator. Therefore, we would recommend traders to stay away from unregulated brokers and trade with licensed brokers.
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