Proficator Review 2024: It’s A Scam, We Tested It!

Last Updated on November 14, 2024 by Stephan Lindburg

Proficator is a new get-rich-quick scheme masquerading as an automated cryptocurrency trading app AKA crypto robot. The system supposedly generates buy or sell signals based on advanced artificial intelligence technology and programmatic trade execution.

Based on our expertise, we can determine that legitimate trading systems or terminals such as MT4 employ coding in python3 MQL4, or MQL5. These programming languages enable traders to develop their own Expert Advisors, as well as customized indicators or protocols.

In our Proficator review, we will prove that this so called “platform” not employ any of these technologies. Neither does this bogus trading app use similar technologies which may somehow compensate for the lack of operational competence. In other words, Proficator is a scam. It is designed to entice opportunity-seekers by presenting them with fake news campaigns that are seemingly endorsed by known celebrities. This is done in order to elicit customer registration under false pretenses.

New members believe they are registering for the Proficator scheme. In reality, Proficator is merely a front for CFD (contract for difference) brokers who are willing to pay insanely high commissions for new depositing members. This leads us to the thorny issues of brokers and why these partner platforms are essentially the financial engine which powers the widely illegal online trading industry.

When our staff signed up to conduct our $250 deposit test, the CFD broker which was assigned to us was named “Coin Invest CFD”. We checked, this broker is not licensed to manage financial portfolios for clients or assist retail traders in any way.

To make matters worse, Coin Invest CFD is not associated with any holdings company. Nor does this broker have any reference to incorporation documents, executive officers, or ownership information. In other words, the broker is just a fictitious entity with an API setup and a dirty credit card processing integration.

Official Proficator Website, Login Page, and Members Area: There are about 7 websites claiming to be the “Official App”. They are all equally worthless.

Proficator: Executive Overview

The Proficator trading app is a signals platform designed specifically for cryptocurrency contracts and Forex spreads. The software seemingly offers access to a wide range of assets and highly accurate signals. These can be delivered to your mobile device or personal computer. That is the official sales pitch, but not what we believe this scheme is really about.

Proof Of Scam

Below you can see the primary sales page and registration area for the Proficator scam trading app. Take a really good look and the text, color scheme, and design.

Now take a look at the image below. After viewing both of these images, it’s quite plain to assume that Proficator is a cloned or copied website. This should not come as a complete surprise to our regular subscribers.

However, if you are new and searching for a genuine Proficator review, this will surely shock you. We know this to be true based on the feedback we received from our readers.

Proficator Fake News

We spotted a fake news article featuring Anthony Albanese, the Prime Minister of Australia. In the article it is claimed that “Albo” is torn between his job and a keeping tabs on his new “money-making hobby”.

We also spotted a few fake news articles featuring Elon Musk, Sir Keir Starmer, and Prince Harry. It’s fair to say that there are other celebrities or high profile individuals that are currently being used in conjunction with Proficator. However, we were able to spot these two at this point and time.

Fake Proficator Reviews

Our staff was able to spot at least four fake Proficator reviews. Some of these reviews are published via sponsored articles on various media outlets. Please note that these reviews are completely biased and highly misleading. Other endorsements are published on websites associated with the Finixio scam cryptocurrency and illegal gambling network.

Proficator Phishing Site Warning

We used McAfee Webadvisor to check for viruses, Trojan Horses, and phishing. Low and behold, Proficator is flagged as a phishing site and this doesn’t happen without a very good reason.

Our staff also used Malwarebytes for the same purposes and ended up with similar results. In both cases the Proficator scam was classified as either suspicious or associated with phishing.

What Is Proficator, Who Is Behind It, and How Does It Work?

As we previously mentioned, Proficator is a cryptocurrency trading app. According to the sales page, the software automates the buy and sell process. This enables a more streamlined and efficient trade execution process. Proficator also utilizes a proprietary technology nicknamed “wildcard”.

According to tech terms, a wildcard refers to a “character that can be substituted for zero or more characters in a string”. In layman’s terms, they are saying that there is an advanced sorting process that knows how to alternate the buy or sell orders according to a certain logic.

The people behind this bogus trading app are affiliate networks and media agencies. They could care less about providing expert or unbiased reviews. Their only aim is to push and sell fake trading systems in order to generate fat commissions.

Proficator Review: Time To Take A Step Back And Rethink

An opportunity. Isn’t that what every investor or retail Forex trader is looking for? A genuine opportunity that allows you to generate a sizeable amount of money as fast as possible. Proficator is being touted by promoters as such a system, but not all which glitters is gold.

In fact, we noticed Proficator when receiving a feedback email from one of our Canadian members. It seems Edith our loyal subscriber invested around $700 and lost it all in a matter of minutes. It took around 5 seconds when Edith received a phone call from Keith Vanberg, her new and extremely energetic account manager. Keith was adamant about moving Ruth to invest with a “new and no-risk trading app”.

The deal was that she had to invest at least $6,000 if she wanted to gain access and see significant returns. Fortunately, Ruth had the instinct or common sense to reach out and inquire with us before taking a nose dive and emptying her account balance. Others were not so lucky.

Our $250 Deposit Test And Endeavors

Despite everything we still had to take the Proficator out for a test drive and see for ourselves. So, after our initial investment we ended up on the phone with an account manager practically begging us to invest additional funds. The account manager’s name was Derek Mason, and he made us feel so sorry for him that it was extremely difficult not to invest. Still, we know our business and quickly understood that Derek is a liar who will practically say anything to get more money out of depositing customers.

After logging back in after 2 days we were horrified to find out that the remainder of our balance was depleted. When we inquired about this fact we were told that we signed a document allowing our account manager to trade on our behalf.

Our staff replied by asking to see this document but the response we received referred us to a tiny section in the terms and conditions. That is where one of the clauses states that by simply joining we automatically allow the staff to trade on our behalf.

Well, all of this got us very upset and we had to take a few minutes just to calm down. We realized that we got scammed in the worst possible way. There is no way we were going to get our money back. We were specifically told not to even try or risk having our account frozen. However, after careful consideration we came to the conclusion that it doesn’t really matter.

If they lock us out then we have no reason to come back. It’s better to risk it, at least we had a chance of getting our withdrawal approved. Everything being said and done it didn’t really matter much. As expected we had our account frozen and a compliance manager emailed us and said that our trading account is locked due to “suspicious activity”.

From Bad To Worse

At that point everything just went downhill. We had the displeasure of receiving excessive amounts of emails with offers ranging from Forex systems, gambling cheat sheets, and even fake medical supplements. On top of that phone calls started arriving from different people who tried to sell us all kinds of services we were not interested in. At one point we were even offered lotto tickets and free vacations to Italy if we invest in some sleazy business scheme.

Testing Methodology

Our researchers and data scientists use a very empirical approach in order to test systems. That being said, we try to simplify it in a way which most people can understand the meaning and significance of our findings.

Summary	Synthesis
Checking Sources	What sources are used to validate claims?
Performance Check	Can you conduct proper performance testing?
Fact Check	Fact-checking is crucial.
Proof of Concept	What is the unique selling proposition?

If you wish to gain additional insights regarding our charting or analysis please message us.

What Other Sites Are Saying

We rummaged through the internet to find out what other less reputable sites have to say about Proficator. Here is what our researchers were able to dig up.

• An exceptional trading app that supports multiple assets.
• Highly responsive customer service agents ready to help.
• PayPal or any of the popular credit cards accepted.
• A risk-free trading environment.
• An easy-to-use trading platform.

This is just a partial list, but enough to get our point across.

Strategies And Backtesting

It’s quite common for trading apps to offers access to certain strategies. These include but are not restricted to scalping, momentum, or retracement trading. Proficator does not allow the use of any strategies. Neither does it offer access to historical performance which provides comparative data and let’s members see the profit margins or ITM ratio.

Pros and Cons

We put together a small pros and cons table for our viewers. We kept it small and condensed to keep it simple and easy to understand.

Pros	Cons
No Pros!	Anonymous Illegal Fake Claims

There are some additional parameters, however we believe this is enough to get the message across.

Legal And Regulatory Aspects

Proficator is not a legal trading app. Our researchers checked with various patenting offices and regulatory bodies like CySec or ASIC in Australia. There was nothing we could find about this system. The only information which was accessible to us was a business address in Estonia. Estonia is a well-known jurisdiction for money launderers and tax evaders. This is a huge red flag for anyone looking to invest in cryptocurrencies or Forex.

Confidentiality and Personal Information

According to the European Commission’s Data Protection factsheet dated January 2016, the integrity of personal information is critical in the fight against terrorism, organized crime, as well as “cybercrime”. That means confidentiality and complete transparency in how the information is stored and processed is cardinal.

The crooks are Proficator could care less about your personal information. In fact, they specifically state in the terms and conditions that your personal information can be resold to external vendors. In other words, get ready for some serious spamming.

Safety and Security

Proficator is not a secure trading software. We can conclude this with a 100% of certainty due to a few reasons. First and foremost due to the fact that there is no firewall protecting the transactions. We had a professional security expert test the firewall settings and conduct penetration testing.

Our guy was able to manipulate the firewall and cause the server to crash after about 5 minutes of work. This means the scammers don’t really care about secured transactions or encryption.

Leverage

Leverage in forex trading refers to the use of borrowed capital to increase the potential return on an investment. It allows traders to control a larger position than they could with their own funds alone.

For example, if a broker offers a leverage ratio of 100:1, a trader can control a position worth $100,000 with just $1,000 of their own capital. This can amplify profits, but it also increases risk, as losses can also be magnified. Traders must manage leverage carefully to avoid significant losses, as even small market movements can have a substantial impact on their capital.

Proficator offers insane leverage ratios to new members. Something which is intentionally designed to generate losses.

Compatibility With Exchanges

Some websites try to sell you the idea that this bogus platform integrates with popular cryptocurrency exchanges such as Coinbase or Binance. This could not be farther from the truth. Proficator is a CFD service, hence it only integrates with brokers. Whoever is making these false claims has an alternative agenda, so don’t believe it for a second.

Deposits and Withdrawals

New members wanting to try out this fake app will quickly find out that it is extremely easy to fund a trading account. Once you undergo a verification process you are referred to a cashier where you can deposit funds. Most credit cards are accepted and in many cases cryptocurrencies too.

But try cashing out and see what happens. You will be bounced around and abused by professional con artists and charlatans. First you will be asked to send documentation, after that you will be told it did not arrive. Excuses will keep surfacing until you are worn out and decide to give up.

Trustpilot, Reddit, Social Networks, and Other Forums

We have already seen multiple fake profiles on Trustpilot and various forums endorsing Proficator. Please make sure to avoid any references or recommendations from anonymous individuals who are not held accountable for their actions.

Bonuses and Comps

Bonuses are continuously offered for any members registering through the Proficator scam app. That’s because bonuses, or any form of free gift are traps. This is due to the fact that there are various stipulations or requirements associated with these bonuses.

In most cases you are required to trade a certain number of times you deposit or deposit plus bonus in order to qualify for withdrawals. Account managers try to hide this fact since they know it makes people think twice about accepting bonuses.

Taxes

If you are concerned about paying taxes then allow us to alleviate all or any of your concerns. Taxes are levied on profits or gains. Since Proficator is a losing system you will be exempt from paying any taxes.

Tested Alternatives

OK, so you read our review and decided that it’s time to try out something new. Our recommended section showcases a short list of tested trading apps. Before we make any recommendation our staff invests money and sees how the app performs in real money mode. If we see consistent gains the app gets added and we make it available for our members.

Verdict

Is Proficator scam? We believe it is, and we base our opinions on carefully-researched facts. Our staff went all out and really poked and prodded this system from various directions. Unfortunately the platform failed to perform across all key performance indicators. We don’t blacklist a trading app without good reason. That being said, after losing our money we are convinced that Proficator is not a trustworthy trading app. Make sure to avoid it.