AIpro500

Investigating AIpro500: A Comprehensive Review

In our AIpro500 review, we discuss a scam broker that is doing everything possible to convince traders of its legality. However, we have provided sufficient evidence proving that the platform was created with a single purpose — to take clients’ money. More details about this fraudulent project and its reputation on the internet can be found below.

Key Takeaways

• The company’s claims of official registration in Saint Kitts and Nevis are unsubstantiated.
• The broker is unlicensed and operates illegally.
• The firm withholds critical information from users, such as trading conditions and fees.

Is AIpro500 Trustworthy?

AIpro500 is generous with supposedly official information on its website. It displays a Swiss office address and claims registration in Saint Kitts and Nevis. Furthermore, it even provides a registration number from the Caribbean country’s registry.

From the project owners’ perspective, this might seem like a foolproof strategy — the business registry of this country is closed, obtaining information from it is time-consuming, and it isn’t free (it costs $250). Clearly, not every trader is willing to pay for such a company check and wait 2-4 weeks for the results.

For instance, we used an alternative method — searching the globaldatabase.com portal, which contains data on over 250 million companies worldwide. There is no information on AIpro500’s owner, 123Media LTD, supposedly registered in Saint Kitts and Nevis. However, we found several entities with the same name in the UK, Canada, Vietnam, Hong Kong, and other locations. Of course, these data are not official and cannot completely refute the broker’s claim of official registration. However, we find the lack of any mention of the company rather suspicious.

Another oddity is the absence of information about AIpro500 and 123Media LTD in the local financial regulator FSRC’s registry. However, the broker did not claim to have this license; it merely asserts that it operates in full compliance with the regulatory organization’s requirements.

The platform primarily targets European clients. This is evidenced by the Swiss office address and the claim of compliance with the MiFID II directive. However, the firm does not have any licenses from European regulators either.

It turns out the company is not authorized to provide brokerage services — it lacks any license from regulators. Its registration details are also questionable. Should you trust such a broker?

The lack of licenses and issues with registration confirmation are far from the only reasons not to trust this broker. For example, the copyright notice in the footer claims the official website has existed since 2020. However, the Whois service data shows that the domain aipro500.com was registered much later, in December 2023.

It turns out AIpro500 not only operates without a license but also misleads clients with false information about its period of existence. This is typical of many scam platforms, and it seems this pseudo-broker is no exception.

Exploring Fees and Charges

AIpro500 provides very limited information regarding the costs for traders and the execution of financial transactions. For example, on the account types page, users can only learn about qualitative aspects of commissions, such as “Entry level commissions,” “Improved commissions,” and “Tailored commissions.” However, there is no information on what these mean in currency units or percentages. Likewise, the broker does not specify which types of fees it charges: trading fees for transactions, fees for carrying positions overnight, account maintenance fees, including inactivity fees, etc.

The company also has issues with depositing and withdrawing funds. In the personal account, only two methods are available for depositing funds:

• Bank cards (debit or credit).
• Cryptocurrency wallets.

However, when attempting to make a transaction via card, users receive a message that the payment system is unavailable. Making a crypto transfer is also not possible until a wallet is linked, but we could not find a form to do this either in the personal account or on the website.

Clients are advised to contact the company’s support service to resolve these issues. No doubt, the support staff will provide the payment details for any chosen method. This is a typical scammer tactic: fraudsters do not publish their payment details and instead provide them through personal contact. In such cases, the card recipient will be an individual (a “drop”). Cryptocurrency transfers, meanwhile, are very difficult to trace.

How User-Friendly Is the Trading Platform?

AIpro500 says almost nothing about its trading platform. However, it does claim that the terminal is the most advanced software and even incorporates AI-based trading.

We managed to take a look at this web application. It turns out that the broker speaks so highly of a well-known trading platform developed by Easy Technologies. Users praise its straightforward and easy-to-learn interface, as well as its ability to handle multiple price charts simultaneously.

However, it has significantly more drawbacks:

• Poor market overview organization. Finding the right ticker for trading quickly is quite problematic due to the long list of available options. Adding to Favorites or using the search system does not help solve this issue.
• Minimal number of graphical analysis tools. Many traders accustomed to working with specific tools must reconsider their trading systems, often resulting in a decline in accuracy.
• No ability to create or connect custom modules (Indicators and Trading Bots). How can there be AI trading if the terminal does not support auto-trading?

But the most significant drawback of this software is the administrator’s access to the flow of quotes. This allows the broker to adjust them at their discretion, which naturally results in significant losses for traders. This is why the platform that AIpro500 presents as its own and state-of-the-art has been used for several years almost exclusively by scam brokers with hardly any modifications. Should there be any doubt that this company belongs to the same category?

What Do Clients Say?

As we can see, this broker has been operating online for only a few months. Yet, during this short period, an incredible number of AIpro500 reviews have already appeared. For example, there are 579 reviews on reviews.io, with the company’s average rating at 4.9, and 87% of the authors recommend its services. Essentially, this means that, on average, at least two users of the service are leaving positive comments about the platform daily.

Some brokers that have been in business for decades have not collected such an impressive number of glowing posts. However, it’s hard for us to believe that the company has so many enthusiastic clients willing to write positive comments every day. It seems more like a large-scale order for publications from AIpro500, which copywriters are diligently fulfilling. Moreover, finding any concrete information in these pieces is impossible. Some “talented writers” even praise the firm’s non-existent services, without bothering to familiarize themselves with the actual list.

A similar situation is observed on trustpilot.com. Here, there are fewer comments — just 56 — and the rating is slightly lower, at 4.5. However, the general tone of the publications is the same — endlessly praising the service without saying anything specific.

There are also several niche sites where “experts” have given AIpro500 high ratings. They particularly highlight the trading conditions (which are hidden), a quality terminal (which is ineffective), and client fund security (which is completely lacking). In short, all of them strive to convince us that the broker has plenty of money and does not spare expenses in building its positive reputation. This explains the numerous glowing reviews and articles circulating online.

However, there are also sites on the internet where the company is spoken about quite objectively. These reviews point out all the issues with the platform: lack of licenses, hidden critical information, a lousy trading terminal. In other words, their authors fully agree with us that AIpro500 clients are dealing with a scam.

Final Thoughts: Can You Rely on AIpro500?

Our AIpro500 review is intended to convincingly demonstrate to traders that they should not engage with this broker. Its registration is questionable, it operates illegally in Europe, and it conceals essential details about its terms of cooperation with clients. Typically, only scam platforms act this way, and we have no doubt that this is one of them. This means that the likelihood of losing all your invested funds is close to 100%, and users are better off not taking the risk.

Strengths and Weaknesses