Should You Trust Growth Praxis? A Comprehensive Review of growthpraxis.com

Before you start working with any broker, it’s essential to make sure the organization you’re dealing with is genuinely trustworthy. In this Growth Praxis review, we’ll examine the company’s offerings and uncover the hidden pitfalls behind them.

Is Growth Praxis a Trusted Platform?

The creators of Growth Praxis seem to target clients who lack experience in trading. The scammers have only provided a UK address for their main office, with no information about their registration. Since they claim to have a UK office, it’s possible to check what is known about this organization in the UK by visiting the Companies House website, where all registered companies in the UK are listed. However, as we anticipated from the beginning, there is no information about Growth Praxis in this registry.

Additionally, the scammers’ website contains no information about any licenses. However, we can check if this so-called broker has one by visiting the website of the UK regulator, FCA. As expected, this organization is not mentioned in the register. To operate in the European Union and the UK, a license is mandatory, which this broker clearly lacks, further highlighting the questionable nature of its operations.

Concerned About Withdrawal?

A client looking for information on deposit methods and withdrawals cannot find it without registering. This is somewhat alarming, as companies typically disclose that deposits can be made via, for example, bank cards. Therefore, the client must register to obtain this information, which takes just a minute. After registering, the client should navigate to the “Deposit” and “Withdraw” tabs. There, it is stated that clients can only work with cryptocurrency wallets for various cryptocurrencies:

• Bitcoin
• Ethereum
• TRON

The fact that only cryptocurrency wallets are available further underscores the fraudulent nature of this company. These wallets are used to make transactions harder to trace, as they are anonymous, making it difficult to track down the recipient of the funds.

Moreover, there is no guarantee that the broker will allow clients to withdraw money from their accounts. Scammers often invent various reasons to avoid doing so, such as requiring clients to pay insurance fees or commissions. Even if the trader meets these demands, their account could be blocked once the scammers realize they can no longer extract money from the client.

How Long Does The Broker Work?

The actual information about the project’s operating period can be found using the Whois service. The website https://growthpraxis.com/ was established in 2021 and updated in May 2024. Initially, the site had nothing to do with trading. It was later purchased by scammers and repurposed as a broker’s website. Clearly, it’s unwise to trust an organization that has only been active for a few months and cannot demonstrate its reliability with a long history of service. Attention! This review belongs to InvestExpertHub.

Other Signs of Fraud

❗To start trading, you must deposit €12,500, which is a significant amount. In contrast, working with legitimate brokerage firms usually requires only a few hundred dollars or euros.

❗Another red flag is the high leverage level, reaching up to 1:400. Only experienced traders can manage such leverage; beginners are likely to lose their deposit, which is precisely what the fake broker wants to happen so they can blame the client for the losses. Moreover, in the UK, leverage above 1:50 is prohibited.

Growth Praxis Review Conclusions

Growth Praxis is not recommended for collaboration, as traders risk losing their money during trading. The lack of registration and licensing information is another indicator of the organization’s dubious activities.

➕Well-designed website.

➖Lack of a license.

➖Only works with cryptocurrency wallets.

➖No official registration.

➖High minimum deposit amount.

FAQ

Brief Conditions

Type	Forex
Location	UK
Establishment Year	2024
Regulation	❌
Customer Service	[email protected]
Languages	En, Cz, Sw, De
Demo Account	❌
Mobile Trading	✅
Web-based Trading	✅
Bonuses	❌
Minimum Deposit	$12,500
Max. Leverage	1:400
Scalping Allowed	✅