Unauthorised Firm Details
Name: ProxTrend Ltd.
Website: proxtrend.com
ProxTrend Review – Risky Broker or Scam?
ProxTrend presents itself as a broker offering access to forex, CFDs, crypto, indices, and stocks. The platform promotes features like a wide variety of trading instruments, educational/training materials, multiple account types, and claims fast trade execution and easy withdrawals. On the surface, the website looks polished and professional, but closer inspection reveals serious issues.
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The broker claims to be “regulated” by the Mwali International Services Authority with license number BFX2024053. However, this isn’t a well-known top-tier regulator, and independent watchdogs do not confirm the legitimacy or recognition of this license in major jurisdictions.
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Company registration details are vague or tied to offshore locations. ProxTrend Ltd is listed as registered in Mwali (Moheli), Comoros. WHOIS records are private, ownership is hidden, and domain registrant details are obscured.
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There are many user reports of concern: blocked or delayed withdrawals, required “verification” or “activation” fees before withdrawal, rigid pressure to deposit more, and sometimes account freeze issues. Some reviews allege the original deposit cannot be withdrawn.
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Domain checks show recent registration (around January 2024), contradicting any claims of long-standing credibility. Website trust-score tools flag it as suspicious.
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Independent watchdogs, review sites, and user forums repeatedly warn against dealing with this firm. Many call out opacity in license verification, unreasonable promises, or behavior typical of high-risk/unregulated platforms.
Bottom line: ProxTrend shows many of the hallmarks of a high-risk operation. Investing with them may result in significant losses. If you are already exposed, keep detailed records of all communications and financial transactions, and report the case to your financial regulator immediately.
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