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FinproTrading.com Review Visit site

Updated: Dec 10, 2018
3.43 · 33 REVIEWS
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FinproTradin is a forex broker. Finpro Trading offers the MT4 and Trade Station forex trading top platforms. FinproTrading.com offers over 80 forex currency pairs, commodities, cfds, stocks, indicies and EFTs for your personal investment and trading options.

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3.43 · 33 REVIEWS
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Florida Traders LLC,
USA,
Dec 5, 2018,
Registered user

New development in the Finpro case

New development in the Finpro case

Finpro Representative, Sneha Garg, sent me the following email in response to my request to close my FinPro accounts. (Fortunately, I have no significant funds at risk). I had cited the FPA complaint filed by another trader and my loss of trust in Finpro as an associate of TurnkeyFX. Sneha made some good points in Finpro's defense, so I wanted to share the Finpro response with our FPA membership and viewers. Finpro’s response is posted below and is a true and accurate copy of the original email with the exception of my personal information deleted.

The issues that are not resolved, in my mind, are:

1. Finpro claims the aforementioned trader's complaint was with Turnkey Forex, a separate and completely different broker. Yet, the evidence submitted by the Complainant are account statements from TurnkeyFX(UK) Ltd, the same as statements for Finpro Trading.

2. Finpro claims TurnkeyFX(UK) Ltd. is simply a technology provider. This claim raises the question, why are traders' funds sent for Finpro accounts directed to TurnkeyFX(UK) Ltd.? Clearly TurnkeyFX(UK) Ltd. provides the technology and controls traders' money.

3. I raised the issue with Finpro regarding their only available means to transfer funds was by bank wire. Finpro responded citing issues with their bank. In my experience with Finpro, I have never sent money to a Finpro account. It has always been sent to TurnkeyFX(UK) Ltd. If Finpro is simply a "white label" or front for TurnkeyFX, it would make sense why the money goes to TurnkeyFX.

4. The aforementioned Complainant provided evidence implicating TurnkeyFX(UK) Ltd aka Turnkey Forex in an alleged scheme to steal hundreds of thousands of dollars in trading profits from the Complainant. Regardless, if Finpro claims Turnkey Forex is a separate entity, the Complainant's evidence shows TurnkeyFX(UK) Ltd. may be complicit and in my experience, my money for my Finpro accounts has always been sent to TurnkeyFX(UK) Ltd.

5. I have been a victim of broker fraud. Once trust is lost, it can never be recovered.

Re: : Support Request at FinPro Trading
Wed, Dec 5, 2018 4:50 am
Sneha Garg sgarg@finprotrading.com
To Florida Traders LLC

Please be advised that TurnkeyFX (UK) Ltd is not a forex broker, its only a technology provider, as it takes care of our technology hence our servers are in the name of TurnkeyFX. The broker you are taling about is TurnkeyForex which is complete different entity and in no way related to us.

Bank wire fees - In case of bank wire fee refund, the step was taken due to the increased transaction cost by our bank on the incoming wires hence we are in conversation with our bank and restructuring our deposit options so as to avoid the huge transaction cost.

Cash deposits - We do not take any kind of cash deposits, in fact if you talk about any other broker as well, cash deposits are not accepted in order to avoid any kind of fraudulent activities and meeting all the compliance policies and norms at the same time.

Regulations- Being unregulated doesn’t hint at unscrupulous activity by a broker. It’s important for traders to understand that the global Foreign Exchange market is a decentralized market. This means that online brokers do not need a license, they can simply operate with an offshore company incorporation and business bank account. We treat client funds with utmost priority therefore they are kept in segregated banks accounts and Finpro have no access to those funds. Moreover, we choose to be unregulated so we can provide the best in class trading conditions to all the clients from across the world without any kind of restrictions on leverage or other trading conditions.

FPA (TurnkeyFX) – The review you are talking about is for TurnkeyForex which is complete different entity and in no way related to us.

I completely understand your concern however we always strive to provide the best services in the industry which can be confirmed from the quality of trading conditions and customer service we provide

i hope i am able to solve your queries to the best, feel free to get in touch with me in case of any questions, i will be happy to assist you.

Best Regards,

S Garg

FinPro Trading Team!

Dec 2, 2018 - 1 Star This is a revision to my review dated July 1, 2018.
In another FPA thread, "Scammed by Turnkey Forex", a Complainant, known as "rhukevhe" reported TurnkeyFX(UK) Ltd has refused to allow him to withdraw hundreds of thousands of dollars in profit from his account until he complies with requests to provide three years of tax returns, letter from his employer, bank statements etc. TurnkeyFX has sent the trader his initial deposit. The funds being held are the trader's profit. The Complainant's post are a bit sketchy and not articulated well, however he does provide some evidence in the original thread. In my opinion, the Complainant's thread is sufficient to raise significant issues.
FinPro Trading is a front or affiliate of TurnkeyFX(UK) Ltd. My evidence is copied from an email I received from a FinPro representative regarding bank wire instructions. The following is an accurate and true copy of that email.

-----Original Message-----
From: Sneha Garg <sgarg@finprotrading.com>
To: floridatraderllc
Sent: Thu, Sep 20, 2018 9:20 am
Subject: FinPro Trading: Re: Request for Deposit Bank Transfer Details

Dear Florida Traders LLC,
Hope you are doing well!

This is in regard to an enquiry you made on support@finprotrading.com for bank wire details.

Please find the bank wire details as follows:
HSBC-USD Account:

Bank Details-
Company name: TURNKEYFX (UK) LTD
Account number: 76720925
Bank Identifier Code/ SWIFT: HBUKGB4B
International Bank Account Number: GB53HBUK40127676720925
Sort Code: 400515

I have been a FinPro client for over a year. Finpro has always provided the MT4 platform through TurnkeyFX(UK) Ltd servers. Based on this evidence, it can be surmised that FinPro is TurnkeyFX(UK) Ltd. On a personal note, this revelation causes me great concern. After three years in Forex and now on the brink of success after dealing with other criminal brokers, FinPro appeared to be a prayer answered. Great service, spreads, execution, low commissions with one incident of suspected stop loss hunting. Most importantly FinPro accepted US traders. So, it brings me no joy to post these comments.

If the FPA Administrator will allow, I would like to re-post my comments from the
"Scammed by Turnkey Forex" thread, since it is highly relevant to FinPro. FinPro has garnered good reviews and it can be assumed many traders open accounts with FinPro based on FPA reviews, particularly US traders. I look forward to FinPro's response.

If I understand the Complainant's recitals, TurnkeyFX does not have an issue with the initial account deposit. Turnkey is challenging profits made in the account. So, in an extraordinarily rare instance, a trader overcomes every imaginable obstacle and complexity (multiplied by ten for US traders) after years and thousands of hours of study and trading, probably losing significant sums of initial capital and finally finds success in Forex, makes a ton of money and the broker says, you can't have your hard earned profit until you provide sensitive private financial information, which the broker unilaterally decides whether the information is sufficient to enable the hapless trader to withdraw the profit. My issue is, why would profits made in the account be suspect? How can the source of these profits be in question? The profits were produced on the brokers very own servers, that is the source. What possible bearing does the trader's extensive private financial information have on income produced through the broker's servers? The broker is claiming "compliance". Compliance with what? Turnkey is not regulated. How can anti laundering or proceeds from other possible criminal sources be an issue when the source of the profit is from trading through the broker's very own servers. What possible relevance would three years past tax returns have on the profits at question in real time. The source of the profit is not an issue. The Complainant complied with the mandatory criteria to open the account. The broker has a strong motive to perpetuate this fraud - steal hundreds of thousands of dollars from the trader. If a broker is committing a criminal act by perpetuating a massive fraud, why would a trader send a criminal more private sensitive financial information? My comments are based on the posts and exhibits provided by the Complainant in this thread. I am a FinPro Trading client. FinPro provides TurnkeyFX(UK) Ltd MT4 servers. The following is copied from an email I received by a Finpro representative regrading deposit instructions. The instructions clearly show TurnkeyFX(UK) Ltd is the account holder, not FinPro Trading. (Note: The Deposit Instruction email is posted above)

Jul 1, 2018 - 4 Stars As an active full time US trader with three years FX experience, I have very limited access to the small minority of honest brokers in the world. I have been with FinPro for over a year now. I have compared their spreads to the most competitive brokers out there, including prime brokers and FinPro is always competitive. Rollover (swap) fees are a little less competitive. They have an extremely low commission structure for ECN accounts. There was a pretty rough period while they were revamping their site and business model, but it seems to have smoothed out now. I had a couple of stop loss executions that were suspicious, but I can't say with certainty they were cases of stop loss hunting. I think the best policy is to use virtual stop losses or not at all or rely on other types of exit triggers. Although, Finpro offers different trading platforms, they have not added MT5 yet. When there are system wide problems, which is rare, FinPro has not been particularly forthcoming about the problems, but they have improved their online customer service chat and communication may have improved. FinPro uses Turnkey FX as a third party provider for MT4 ops. Regarding the possibility the third party is actually a market maker or camouflage for a market maker seems to be negated due to the absence of nefarious pricing and low trading costs. I have yet to withdraw funds, so I will withhold the fifth review star until I get a few problem free withdrawals completed. In summary, particularly for US traders, FinPro is one of the very few good viable brokers I have found on this planet....so far.
Forex Peace Army
Review moderation team note
A technology service provider does not usually handle a broker's banking. The FPA believes the claim that FinProTrading is totally unrelated to TurnkeyFx is in conflict with their use of TurnkeyFx's bank accounts.
Poundtrader,
USA,
Dec 4, 2018,
Registered user

so far no fishy bussines

i been with them for about 3 weeks now everything is good so far i just put in my first withdrawal lets see how it goes, i let you know
mwash,
USA, USA,
Nov 30, 2018,
Registered user

rhukevhe,
USA, USA,
Nov 28, 2018,


This poster is ABSOLUTELY CORRECT!!! Scam and fraud so you have been warned.

Sep 20, 2018 - 1 Star I have been trading FX since 1985 and am going to give you my honest review after using this company now for little over a year. I had to look for another broker after the leader FXCM shut down in the US.

1. In-house platform grades at F. Needs to be completely torn down and rebuilt or ONLY promote Meta Trader.
2. Order handling grades at F. Slippage is a big issue as are requotes. I honestly don't think that there is anything behind the bid/offer quotes.
3. Customer Service A. The only problem is you can chat, which doesn't always get the point across, rather than call.
4. Complex orders F. They don't exist
5. Commissions B. Fair but considering the slippage they are HIGH
6. Speed of execution A. No complaints but never had any with FXCM either.

At the end of the day I would not recommend Finpro and I will be closing my account. As another poster mentioned, I was told at the time of opening my account that they would soon be accepting Debit cards and ACH but today nothing. I will be closing my account and moving to Interactive Brokers and if I have any issues with getting my funds I will let you, the FSA and my attorney know.

Good luck and hopes this helps!

Apr 19, 2018 - 1 Star I am only rating order execution as I have already rated the very poor in house platform. Poor order execution with slippage as much as .5 pips. Example, you have limit order to sell EURUSD at 1.2350 and order is filled at 1.23495. The same occurs on market orders IF you don't get requotes. Maybe should change the name to Requote Trading.

Sep 8, 2017 - 1 Star Please allow me to change my review from below, love the spreads and execution but their platform is DOGS***!!! Absolutely blows!

Sep 1, 2017 - 2 Stars I happened upon this broker thru this web site and love the execution and spreads but THE BIG PROBLEM is their platform fails on many levels, hence the two stars. I won't go into all the problems as I am sure they are aware of what they are and where the improvements are needed. If you have an alternative charting package and just looking for execution then this place is great.

Reply by FinPro Trading submitted Oct 18, 2017 Hi mwash!



We are glad you like our trading conditions but are sorry to hear you have issues with Trade Station. Finpro offers standard platforms, MT4 and Trade station , to clients for trading used by 95% traders from around the world. However, if Trade station is not the platform that fits your trading and charting requirements, we’ll suggest that you try MT4. Please get in touch with our support agents on Live Chat, should you require more information.



Thanks

Reply by FinPro Trading submitted Oct 18, 2018 Hi Michael/Mwash



You have been very dissatisfied with "Trade Station" past one year though most of our clients using the platform have no complains. We've requested you in the past to move to Meta Trader 4, if Trade Station does not meet your trading requirements. But you have chosen to trade on the platform all this while.

We consider your editing the same review repeatedly, citing the same issues past one year, an intentional attempt to bump the review back to top in order to defame the broker.



Regarding the withdrawals, you have been with us for almost an year now and had withdrawals been an issue, we are sure you would have listed that as an concern somewhere in your review(s). Therefore making a statement on the public forum expressing doubts about our withdrawal process seems simply a deliberate effort to mar our reputation.



Kindly reconsider moving to MT4, if Trade Station does not meet your requirements. And we assure you that if you request for a withdrawal, it will be processed within the stipulated timeframe.



Thanks

FinPro Support
Reply by FinPro Trading submitted Dec 6, 2018:
Hi Micheal/Mwash!

We appreciate your concern over rhukevhe's plight! But if you consider us scam and fraud, then why have you chosen to trade with us till date? Its ironic that you choose to defame us on public forums by repeatedly leaving negative reviews over the course of last one year but at the same time choose to trade with us.

And its only on 19th November, 2018 you requested for a withdrawal in an email that threatens to defame us on all public forums IF OUR BANK or ANY INTERMEDIARY BANK charges you a fee for withdrawal. We are posting this piece of information here because we anticipate the next review update can be on this. So we are clarifying it publicly in advance that "FinProTrading" does not charge any withdrawal fees but if a intermediary chooses to do that we cannot control that.

And we also request you to get back to our team and share your bank details, since they have been following up with you on the details but you have not responded back as of date.

Lastly, we request you to refrain from using derogatory language against our management team in the emails you send us.

FinPro Support
rhukevhe,
USA, USA,
Nov 28, 2018,
Registered user

SCAM BROKER

WARNING!! SCAM BROKER!!

This is a scam broker which also owns Turnkey Forex (turnkeyforex.com). Link to complaint filed against turnkey forex.

https://www.forexpeacearmy.com/community/threads/57929

More. Community discussion of this issue >>

Reply by FinPro Trading submitted Dec 6, 2018:
Hi rhukevhe!

Its seems you are posting your review at a wrong listing. We are NOT related to TurnkeyForex.com . Please share your review on their listing if you have an issue with them.

Venting out your frustration on an unrelated broker listing will not help solving your problem. Please approach your broker.

Thanks
FinPro Support!

jbrdhrst,
Louisville, KY, USA,
Oct 5, 2018,
Registered user

I'm using FinPro based on BabyPips ranking for US traders going offshore and my experience so far has been excellent. Instead of 50:1 leverage here in the US I now have 200:1 plus initial deposit matching and $2usd/Std Lot commission. They have a server in the US and my fills are excellent. Their Customer Service is outstanding. I've been trading Forex for over 20-years starting with TradeStation until they exited this market and FinPro is the best Broker I've used since then. My only wish is for them to use PayPal for deposits and withdrawals.
Scalp daytrader,
Norway, Norway,
Aug 19, 2018,
Registered user

Scalper

I am really happy with the low commision Because its crutual too my system profit i dont belive they are messing with withdraels they have been in buisness for 6 years and many are happy with them
Rob,
Florida, USA,
Jun 26, 2018,
Guest

Very Pleased

I have been with them about 6 months. I have used both the 100% bonus and the reduction of commission specials. I have had no problems with filling orders or execution. Recently I had an issue with a wire transfer withdrawal and most (not all) of the support staff went out of their way to help and get it resolved. I would say it was better customer service than the U.S. brokers I have used in the past. I initially read about them in a forum and decided to give it a try. I am glad I did.
mikekhod,
USA,
Jun 26, 2018,
Registered user

FINPRO is a SCAM broker

Guys stay away, SCAM broker. I used BTC to deposit, then i made a withdraw, somehow my money never made it to my personal wallet. I followed hash they provided and its not to my wallet.
I contacted them, still dealing with them, they keep stalling and ignoring then they email. Almost 3 months of back and forth. You know when you get to know if your broerk is legit, is when you profit and try to take it.
I only profited couple of hundred and they are acting shaddy, i can imagine thousands. Stay away, i have used fxchoice, tradersway and many others and never had to chase after my money and be played with so much.
Eleanor,
London, United Kingdom,
May 22, 2018,
Guest

A big YES

Trust in this market is important and Finprotrading is a trustworthy broker! Their ability to address my concerns & fix them in time is what keeps me with them. They have got the best spreads and commission, when I compare them with the brokers i've used in the past. Execution is smooth. Their live chat support is very impressive and has been a life saver on many occasions since I started with them. Deposit withdrawals are simple and straightforward and have never been an issue. I have deposited mostly through bank. Nothing is too much trouble with them and that is why I like them. Will update, if this changes!
Alisha,
India,
May 21, 2018,
Guest

Excellent broker! very happy with their service, order execution, speed and cost. Client support is also informative.