ToroTradePro company is trying to make traders believe they are a regulated entity. Firstly, claiming they have an FCA license, and secondly, with a shady disclaimer in Italian language to confuse customers.
However, just a bit more interest can help you realize quickly all these are just lies. But to save you time, we have everything prepared for you in this unbiased ToroTradePro review.
| Regulated By: | No Regulations |
| Is This Company Safe? | No |
| Known Websites: | |
| Have Warnings From: | N/A |
| Registered In: | UK (allegedly) |
| Operating Since: | 2023 |
| Trading Platforms: | Web trader |
| Maximum Leverage: | 1:400 |
| Minimum Deposit: | 1.000€ |
| Deposit Bonus: | N/A |
| Trading Assets: | Forex, indices, shares, cryptos, commodities |
| Free Demo Account: | Not Available |
| How To Withdraw From This Company? | Considering multiple misleading information, especially about regulation you can definitely expect withdrawal problems with this brokerage. If that occurs, don’t hesitate to contact our refund experts for advice. |
Legal Info: Is ToroTradePro Legit Or A Scam?
As can be seen, the ToroTradePro scam broker is using another regulated trading brand to manipulate its customers. However, their legal documents reveal that ownership belongs to Wallwood Capital Management Limited and not FP Markets.
Therefore, all the mentioned licenses from FCA, CySEC, and FSCA can be considered fake, at least for this broker. To be clear, ToroTradePro broker doesn’t have any. But even without saying that, you will quickly recognize why they are a scam company.
Who Are ToroTradePro’s Victims?
According to the research, the company’s domain was registered in July 2023. In general, 6 months is plenty of time to realize if the company is legit or not. But reviews reveal the bitter truth. Most of the scammed customers come from:
- Canada
- Spain
- United Kingdom
- Turkiye
Since ToroTradePro trading company doesn’t hesitate to scam anyone, you shouldn’t hesitate to get your money back. For that reason, we offer you a free first consultation with our refund experts.
Traders Review
One of the main signs this company is an absolute scam is the company’s reviews. So far, we can only see 3 comments on Trustpilot, but two of those are already screaming fraud.
Since they are manipulating traders about regulation, withdrawals, and whatnot, it’s just a matter of time before they get fully exposed, primarily by regulators. Meanwhile, you can contact our team for any advice and even start the refund process on time.
Leverage, Commissions, Spreads, Fees and Taxes
Important to realize is that the company is quite conservative when it comes to sharing fees. The only transparent thing is the spread from 1 pip on the Classic account. Even though other account types offer spreads from 0 pips, we highly doubt that’s below 1 pip anyway.
On top of that, the biggest scam sign is that the company is offering leverage of up to 1:400. However, all top-tier regulated companies can give you a maximum of up to 1:50. Moreover, commission and other fees remain unknown, which means manipulation in advance.
Bonuses
On the positive side, ToroTradePro forex broker doesn’t offer any bonuses. At least not as a welcome bonus. However, when you are signing up for their IB program or partnership program, you might get some. Thus, conditions for withdrawing those are not transparent. But to see how it could play out, read our DamkoNet review.
ToroTradePro Trading Features
The key feature this company claims to have is security. Primarily, they claim to keep clients’ funds in segregated bank accounts. This would mean they can’t freely allocate any of the funds.
On top of that, the company claims to be a sponsor of Manchester United. That would make a whole lot of difference. Yet, the clubs’ website doesn’t back up such a statement.
Trading Platforms Available
According to the broker, traders can use one of the best software options in the industry. That’s highly popular MetaTrader 4. However, the download option on the Toro Trade Pro website doesn’t exist.
Consequently, that offer becomes highly questionable. Especially because insight into the platform is not available. But if you see anything different than MT4, keep in mind they are getting you scammed.
Available Trading Assets
Generally, when the company is exposed as a scam, tradeable instruments become irrelevant. But if the company was legitimate, the offer would be quite solid. For example, traders would trade:
- Forex – USD/GBP, AUD/HKD
- Commodities – gold, platinum
- Shares – American Airlines, Apple
- Indices – NASDAQ, S&P500
- Cryptos – BTC, ETH
Account Types
This broker has four different account types in their offerings. The main differences come from spreads, margins, stop-out levels, and commission. Everything else is pretty much the same. Anyway, the options are:
- Bronze – 1.000€
- Silver – 5.000€
- Gold – 25.000€
- Platinum – 50.000€
Mobile Trading App
Apparently, a mobile app is available for iOS and Android users. However, missing download links make us wonder if that’s true or not. In any case, to realize why such apps are important, check our UberChains review.
Demo Account
One huge disadvantage of this brokerage is that it is missing a demo account. If they have it, it would be much easier to prove their conditions, and if they have MetaTrader 4. Without it, they just add up more suspicion.
Education
Allegedly, the brokerage is offering a trading academy. This will include trained staff to help traders if they need assistance. Thus, that’s something you definitely don’t want from a scam broker.
ToroTradePro Withdrawal
The company’s minimum withdrawal amount is 200€, and only bank wire transfer is possible. The fees are starting from 0 €. Still, “starting from” means that the range should be specified somewhere.
According to the poor withdrawal policy, the company is processing withdrawals within 24 hours. However, to get your withdrawal approved, you must provide a vast of documents. That’s where they will try to trick you and prolong the process.
Customer Support
In general, this company has one of the worst contact options available. In fact, only a web contact form is an option. However, without transparent working hours. Therefore, you can expect a longer response time.
Key Information To Consider About ToroTradePro
Everything about this company is suspicious. Starting with regulations, sponsorships, contact details, trading conditions, and software.
Therefore, ask yourself if trading with so many questions unanswered is joyful. Definitely not. But if you did trust this broker with your money, request a withdrawal immediately. If you see any of the manipulating tricks we presented to you in this ToroTradePro Review, contact us for advice.
FAQ Section
What is ToroTradePro?
ToroTradePro is a fraudulent brokerage allegedly operating from the United Kingdom since 2023.
Is ToroTradePro Regulated?
Definitely not. Even though they claim to be FCA-regulated. Also, they are using other brokers’ details to make themselves look legit. But they are not.
How Can I Recover Money from a Scam Broker?
Recovering funds is possible through chargeback or alternative refund methods. But to avoid any mistakes during the application, we suggest you contact our refund experts for assistance.
