Prostocash.com has been identified as a risky opportunity by Intelligence Commissioner users. It is similar to Baksman.com. We’ve received over 5 complaints against Prostocash.com.
Prostocash.com confronts significant legal and regulatory hurdles. German authorities shut down the exchange in September 2024 due to its involvement in illicit activities such as money laundering. The platform also receives mixed user feedback, including complaints about payment delays, exchange rate differences, and contested transactions. Furthermore, Prostocash.com lacks openness about its ownership and compliance with regulatory norms, which raises severe concerns among potential users.
If you’ve lost money or have had a bad experience with Prostocash.com, you can work with an investigative agency. They can provide you with the help you need:
Key Takeaways
Is Prostocash.com Regulated? Do They Have a License?
Prostocash.com is currently embroiled in substantial scandals and legal challenges, raising worries about its operations and credibility. In September 2024, the German government took serious regulatory action, shutting down Prostocash.com and 46 other cryptocurrency exchanges as part of a global cybercrime crackdown. The closures were primarily motivated by links to illicit activity, such as money laundering, according to German officials.
A key issue was that many exchanges, notably Prostocash.com, did not comply with important ‘know your customer’ (KYC) laws, which are critical for monitoring financial transactions and preventing illicit money transfers.
In addition to the legal issues, user feedback on Prostocash.com is mixed. While some users had excellent experiences with the platform, others have expressed serious concerns. Delays in payment processing, variations between the currency rates indicated in the application and the actual receipt of money, and occasional failures to conduct transactions through particular payment systems are among the most often noted issues. These operational issues have caused unhappiness among certain consumers.
The lack of regulation or the presence of poor regulation is a huge red flag. It means Prostocash.com might be a scam or most likely, an illegal operation.
Companies offering investment services or opportunities without having a license can vanish without leaving a trace. Furthermore, the lack of a regulatory license allows them to get away with it and face no legal consequences.
That’s why it’s vital for you to always check a company’s regulation status as well as its license information. The presence of a license allows consumers to reach out to an authority if something goes wrong.
In the case of Prostocash.com, victims have nowhere to go due to the absence of a watchdog or license.
You should ask yourself the following questions when you come across a new investment firm or opportunity:
- Does the investment provider maintain transparency about its CEO?
- Do they have a license from a renowned regulatory authority?
- If the need arises, can I reach out to an authority to report this company as a scam?
Trading Conditions and Deposit/Withdrawal Methods at Prostocash.com
There are also issues about the platform’s identity verification method. Some users have expressed concerns about the obligation to present personal identification documents, citing security hazards. The lack of transparency about how Prostocash.com handles user data only heightens these concerns. Furthermore, there have been complaints of disputed transactions, with users unable to collect their funds or obtain reimbursements for botched trades, eroding faith in the platform.
Furthermore, Prostocash.com’s lack of transparency extends to its ownership and organizational structure. Little is known about the company’s leadership or the entities that drive its activities, creating additional red flags. Despite its years of operation and some excellent reviews, the platform’s major legal, regulatory, and operational difficulties indicate that potential users should exercise cautious. The closure by German authorities, in particular, emphasizes the importance of the legal and regulatory issues surrounding Prostocash.com.
However, it’s worth noting that many forex scams disable their payment channels before shutting down their operations.
They might give you multiple reasons including:
- A technical error
- A glitch in their system
- Banking issues
- A “hacking attack”
And many others.
But in 9/10 cases, shady forex brokers stop making payments and keep the money to themselves. Hence, the payment methods we discussed here might not work.
Victims can get help from a specialized investigation agency that can look into the scam for them. Contact our recommended agency here.
Prostocash.com Customer Service: Do They Handle Complaints Well?
When it comes to forex brokers, you should only measure the quality of their customer service if they respond to your complaint.
In the beginning, shady brokers tend to remain very accessible.
This means their representatives will keep calling you until you invest with them. Furthermore, they will act friendly and make it seem as if you’re one of their most valuable consumers.
However, they do all this just to win your trust.
Shady brokers understand that to convince someone to give them a large sum, they will need to seem like a friend.
Nevertheless, when you have invested a considerable amount of money and need to get it back, their customer support will become inaccessible.
All of a sudden, their numbers would either stop responding or become unavailable.
Still, they might remain accessible to convince you to invest further. Also, they might begin by making a few excuses regarding your payment.
However, in the end, customer support won’t resolve your issues and become increasingly unavailable.
If you have information on a scam or criminal operation, you can get access to 40+ investigative journalists & news outlets for free. Send us a detailed report here and if you qualify, we will forward your case ahead.
Prostocash.com Reviews: What Do Others Say?
It’s worth noting that many scammers tend to purchase fake reviews. Buying fake reviews has become extremely easy and it’s a multi-million dollar industry.
Even if Prostocash.com might not be a scam, brokers like them rely on fake reviews to increase their credibility.
TIME Magazine investigated the fake review industry and estimated it to be worth more than $150 million. Certainly, there are a ton of scammers who want to seem legitimate and a bunch of fake reviews is the most effective way to do so.
That’s why you shouldn’t trust the online Prostocash.com reviews easily.
It’s easy to identify fake reviews as well. You should look out for 5-star reviews posted by temporary accounts (profiles that only posted 1 or 2 reviews on the platform). Also, you should see if the positive reviews share any detailed information about their experience with the firm or not.
In the case of Prostocash.com, chances are, you wouldn’t find many legitimate reviews.
Another prominent way brokers like Prostocash.com enhance their credibility is by burying negative reviews and complaints under a lot of fake reviews.
This way, when you’ll look up “Prostocash.com reviews”, you might not find many complaints. Or, you might find them buried within numerous reviews praising Prostocash.com.
You should always look out for consumer complaints. In the case of Prostocash.com, the most common complaints I found were about:
- Poor customer support
- Delays in payments
- High fees
- Lack of transparency regarding their leadership team
- Aggressive sales staff
Do you have a similar complaint about Prostocash.com? You can share your complaint in the comment section or submit an anonymous tip.
Is Prostocash.com Legit Or a Scam?
Prostocash.com is an unregulated entity. Although they might fall under the jurisdiction of a watchdog, they don’t have the license to offer financial services to consumers.
The lack of a license means they are not answerable to any regulatory authority. As a result, the people behind Prostocash.com can run away with your money without any prior notice. It would help if you were extremely cautious when dealing with an unregulated service provider.
The absence of a watchdog also means you cannot report to them to anyone.
Also, due to the absence of specific regulations, there is no provision protecting you from the insolvency of this entity. If they go bankrupt, you won’t be able to do anything about it.
Can You Trust Prostocash.com?
All the evidence suggests that Prostocash.com might be a scam. You shouldn’t risk your funds with a broker you don’t fully trust.
If you’ve experience in dealing with this company or a similar one, we recommend working with a trusted investigative agency. That way, you can get professional help and resources.
Frequently Asked Questions
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How Forex Scams Work
Intelligence Commissioner investigates & reviews online money-making opportunities. We strive to provide critically helpful information to our readers and assist them in identifying scams. 
