Is Traderspros a Scam?

At FXCanary, our mission is to arm retail traders with the evidence they need to distinguish legitimate brokers from potential scams. Our safety evaluation is not based on gut feeling or marketing materials, but on a forensic, multi-source investigation. We cross-check official regulatory registries, analyze aggregated industry databases, and systematically collect and categorize user reviews from platforms like Trustpilot and Forex Peace Army. Each piece of evidence is weighed – from license authenticity to the volume and nature of customer complaints – to produce a comprehensive risk profile.

A broker’s regulatory standing is the cornerstone of our assessment. Legitimate oversight by a top-tier authority (such as the FCA, ASIC, or CySEC) brings mandatory client protections: segregated accounts, negative balance protection, and participation in a compensation scheme. We also scrutinize the broker’s operating history, transparency about fees and execution, and the company’s corporate footprint.

When these elements are missing or contradictory, alarm bells ring. Finally, we listen to the collective voice of traders. Isolated complaints can be noise, but a pattern of identical, unresolved grievances – especially about withdrawals – is a powerful signal.

Traderspros has earned an FXCanary Scam Risk Score of 75 out of 100, placing it in the “Severe” risk category. This score is a reflection of multiple, overlapping danger signs. The most critical factor is the complete absence of verifiable regulation. No government or independent authority oversees this entity, meaning there is no legal requirement to protect client money. Our research found that the company behind the brand, AND Corp Limited, lists zero employees and was incorporated in the UK in February 2021 – a common trait of shell companies used to create a veneer of legitimacy while insulating the real operators.

The score is further driven upward by the torrent of user complaints. Across 55 Trustpilot reviews, the broker averages just 1.4 stars, with not a single positive review. The complaints are alarmingly consistent: deposits accepted, accounts funded, and then complete stonewalling when a withdrawal is requested.

Twelve separate reviewers explicitly detail blocked or ignored withdrawal requests, often after they had been pressured to deposit more money. The lack of any disclosed trading conditions – spreads, commissions, or even a functional leverage ratio – indicates a broker that prioritizes taking money over providing a service. In our methodology, such opacity combined with a user-reported 100% negative experience is a near-certain indicator of a scam.

Our investigation confirmed that Traderspros holds zero financial services licenses. It is not authorised or registered with the UK Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC), or any other reputable regulator. This is not a matter of a minor lapse in paperwork; operating without a licence while soliciting retail clients is illegal in many jurisdictions. The UK registration of AND Corp Limited (Company number 13202674) is a simple corporate incorporation, which grants no permission to offer trading services and carries no regulatory oversight.

For a trader, what does this mean in concrete terms? When you deposit money with an unregulated broker, you are not guaranteed that your funds are held in segregated accounts. There is no external auditor checking that the broker actually has the capital to return your money.

If the broker disappears or refuses withdrawals, you have no access to a statutory compensation fund (like the FSCS in the UK or the ICF in Cyprus). You become an unsecured creditor, often chasing a phantom entity across borders. The zero-employee count for AND Corp further suggests that there is no physical operation or staff to hold accountable.

In our assessment, this regulatory void is the single biggest red flag for any retail trader.

If regulation is the theory, user reviews are the practice – and the practice at Traderspros is grim. Our analysis of the 12 withdrawal-centric complaints reveals a harrowing pattern. One user reported depositing €10,000, making a small profit, only to find that “the support team said your account manager needs to approve” the withdrawal.

That approval never came. Another described depositing £250, losing it on “advice,” then being pressured to invest more. When they refused, the website was closed and a new one opened, a classic exit scam maneuver.

Multiple users mentioned that they only received any response after involving third-party recovery services, which themselves may be questionable.

Even more disturbing are the allegations that Traderspros operates under multiple aliases, including 7XTrade and Monetio. This is a known tactic among boiler-room scams: rebranding frequently to shed negative reviews and evade detection. The broker’s website may appear professional, but the reality is that funds deposited are rarely, if ever, returned. In every case we examined, traders were met with silence from customer support, demands for additional fees, or account closure once a withdrawal request was made. This is not the behavior of a legitimate broker facing occasional operational hiccups; it is a systematic denial of client funds.

To help traders assess risk visually, we catalogue distinct red and green flags for each broker reviewed. For Traderspros, the red flags are so numerous and uniform that we found not a single mitigating green flag. Here are the primary warning signs:

• No regulation: The broker has no licence from any recognised authority.
• Stratospheric minimum deposits: The “Basic” account requires €5,000, and higher tiers demand up to €75,000 – far above industry norms and designed to extract large sums quickly.
• Non-transparent trading conditions: The broker’s website (as reviewed by our team) does not disclose spreads, commissions, or leverage for its accounts, making any informed trading impossible.
• Overwhelmingly negative user sentiment: 55 reviews, 1.4 stars, zero positive mentions on any topic. Customer support, platform, deposits, and withdrawals are all rated negatively.
• Clone operation indicators: User reports of the same group running multiple brands and closing sites after complaints.
• Zero employees: The registered company is a shell, indicating no real operational capacity.

A legitimate broker typically exhibits clear regulatory licensing, transparent fee structures, reasonable minimum deposits, and a mix of user feedback (including some negative reviews that are publicly addressed). Traderspros exhibits none of these. It is, in our analysis, a textbook example of a high-risk entity that exists solely to collect deposits. We urge extreme caution: this is not a broker that occasionally disappoints; it is a setup designed to disappoint systematically.

While our investigation points to Traderspros as an extreme risk, we want to empower traders to conduct their own due diligence and avoid such traps. The first and most critical step is to verify a broker’s regulatory status yourself. Do not rely on a broker’s claims; go to the regulator’s public register (for example, the FCA Register in the UK or CySEC’s website) and search for the firm’s license number. If the name does not appear, or if the domain does not match the authorized entity, walk away. A genuine broker will never hide its regulatory credentials.

Be suspicious of high-pressure sales tactics and unsolicited calls. Several Traderspros reviewers reported being contacted immediately after providing contact information, often by aggressive agents pushing for larger deposits. Never deposit money you cannot afford to lose, and start with the minimum if you must test a platform.

Be especially wary of brokers that require large upfront deposits or that offer “custom” account tiers. Additionally, avoid the temptation of recovery services that promise to retrieve your lost funds for a fee; many are “recovery scams” that prey on already victimized traders. If you have been defrauded, contact your bank immediately for a chargeback, and report the incident to your local financial regulator and law enforcement.

Finally, always check independent review platforms like Trustpilot, but with a critical eye. A pattern of identical complaints about withdrawals being blocked is the clearest red flag. Traderspros’s review profile is a perfect illustration: 100% negative, with no constructive engagement from the company. In today’s online trading landscape, due diligence is a trader’s best defence.

After thorough examination of available evidence, FXCanary has reached a clear conclusion: Traderspros is an unregulated, high-risk operation that exhibits all the hallmarks of a scam. The absence of regulation, combined with a perfect storm of user complaints detailing blocked withdrawals and non-existent support, leaves no room for doubt. The broker’s corporate structure – a UK shell with zero employees – is a facade intended to deceive, not to conduct legitimate business. While the website may still be live, we see no safe reason for any retail trader to open an account or deposit funds.

The 75/100 Scam Risk Score is a stark warning. Traderspros is not a borderline case; it is a clear danger to retail traders’ capital. Our investigation has found no evidence of the client fund protections, transparent trading conditions, or reliable customer service that legitimate regulation enforces. We recommend avoiding this broker entirely and, if you have already deposited money, take immediate steps as outlined in our protection guide. Stay safe by always verifying a broker’s license before you trade.