Protoss Capital – Can You Trust Them?

Website URL: https://protosscapgroup.com

Founded: 2022

Regulations: Not Regulated

Languages: English, Chinese, Japanese, Korean

Deposit Methods: Bank Wire, Credit Card, Debit Card

Minimum Deposit: Unspecified

Free Demo Account: No

Number of Assets: 20,000+

Types of Assets: Commodities, Forex

Trading Accounts and Conditions

Protoss Capital does not share any information about the types of trading accounts they have or their trading conditions. Therefore, we have no idea about the funding requirement, the spreads, the leverage ratios, the margin calls, fees, commissions and so on.

Protoss Capital – Advantages

There are no advantages to trading with Protoss Capital.

Protoss Capital – Disadvantages

Given below are all the red flags that tell us that Protoss Capital cannot be trusted and that this broker is actually a scam:

• Lies About Regulation Status

The first thing that tells us that Protoss Capital is not a broker to be trusted is their regulation status. This broker claims on their website that they are owned by a company called Protoss Capital Limited and that this company is authorized by the Hong Kong SFC (Securities and Futures Commission).

We need to point out that this broker doesn’t exactly give us the exact name of the HKSFC; the broker simply states that they are regulated by the SFC and that their license number is bii154. We assume that this broker is referring to the Hong Kong regulator.

Added to this, Protoss Capital does not provide us with a complete physical address, which means that they aren’t exactly upfront about their location.

And to prove that our suspicions about this broker are correct, when we checked the online registers of the Hong Kong SFC, we found out that the regulator has actually blacklisted this broker! We also found out that the license number that this broker has provided is actually real – only it doesn’t belong to them at all. This license has been issued to a legal entity called Protoss Capital Limited, but it has nothing to do with this broker!

This investigation has revealed that we are not dealing with a simple scammer. We are actually dealing with a clone firm – a scammer that steals another (regulated) company’s credentials and passes them off as their own.

Protoss Capital is an anonymously operating clone firm!

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• Lies About Trading Platform

This broker also claims that they offer their clients the use of a proprietary trading platform called the PROTOSS Pro, which is supposedly available in both desktop as well as mobile versions.

Once again, we see through this broker’s scam. All of this information has been copied from the real Protoss Capital’s website. This scammer does not even have a download link available on their website!

There is also no demo account available. Regulated brokers not only provide links to download their platforms, they also provide demo accounts where you can practice using their software, and also check out their trading conditions in a safe environment. None is of this available with this broker.

Thus, this broker has simply lied about their trading platform – another sign of their scam.

• Issues with Registration

Another red flag that tells us that we are dealing with a scammer here is the fact that we were unable to even complete the registration process. To be able to register for an account with Protoss Capital, you need an invitation code. Without this code, there is no way to open an account with this broker.

This is another tactic used by scammers; they trawl the internet for likely scapegoats and then contact them – either when the client clicks on their social media ad, via email or any other form of media. Once they contact them, then they give them this so-called invitation code and invite them with tall promises of high returns to register an account with them. They make sure that they only target novice traders – those who do not know what they should expect from a legitimate forex broker.

• Lack of Trading Conditions

Yet another way to see a broker’s dishonesty is their lack of transparency when it comes to their trading conditions. The spreads, leverage ratios, fees, commissions and so on are what tell a trader whether it would be advantageous to do business with that particular broker or not.

The lack of transparency is typical of scammers; they don’t want their clients to know how badly they are going to get scammed until the traders have already committed their money with them.

We also need to point out that we usually register for an account with a broker so that we can check their trading conditions for ourselves. So, the facts that we were unable to even open an account with this broker and that they do not even have a download link to a real trading platform tell us that we are dealing with a ruthless scammer.

• No Information on Payments

We also do not know details about Protoss Capital’s payment methods. There is only a single reference to payments – that you may be able to use your credit or debit card to fund your account. However, there is no way that we are able to validate these claims since we could not register for an account and check this broker’s payment section for ourselves.

We also do not have any information on the policies around these payments; whether there is a fee charged for deposits and withdrawals, how much you are allowed to withdraw at one time, if there is a withdrawal processing time, and so on.

Thus, if you come across a broker that has issues with their payment methods – even if they have very attractive offers (bonuses, trading conditions and so on), it would be best to avoid them. 

Conclusion

Protoss Capital is the worst kind of scammer – a clone firm using another broker’s identity to snare unwary novice traders into their fraud. This broker must be avoided at all costs.

Protoss Capital

2.5

User Experience

2.5/10

Payment Options

2.5/10

Security

2.8/10

Support

2.0/10

Reputation

2.6/10

Pros

• None

Cons

• Lies About Regulation Status
• Lies About Trading Platform
• Issues with Registration
• Lack of Trading Conditions
• No Information on Payments