OnePro Information
OnePro is an STP forex broker founded in 2019 and registered in New Zealand, offering trading services on various financial instruments including forex, metals, energies, CFD, share, commodities, and futures. The company is based in New Zealand and is registered with FSC (Offshore), ASIC/SCA (Revoked), and FSPR (Exceeded).
OnePro claims to provide clients with access to advanced trading tools, trading platforms, and educational resources to help them make informed trading decisions. The broker also offers multiple account types, payment methods and multilingual customer support.
Pros & Cons
OnePro offers a variety of advantages, such as multiple account types that cater to varied user preferences, including demo and Islamic accounts. It provides a wide range of trading instruments, including forex, metals, energies, CFD, share, commodities, and futures, offering traders multiple avenues to diversify their trading portfolio.
They also support a variety of trading platforms, including MT4, MT5, and ONEPRO APP, which enhances user experience based on personal preference. Additionally, the company impresses with multiple methods for deposits and withdrawals, such as bank wire transfer, credit/debit cards, online wallets like Neteller and Skrill, making the process more flexible and easier for the user. Their customer support is multilingual and available around the clock, which adds to the ease of user interaction.
However, OnePro does have its limitations. It does not accept clients from the U.S, Singapore, Hong Kong, North Korea, and Iran, which restricts the user base. Educational resources are limited, which could be a drawback, especially for new traders who need more guidance. Lack of information regarding commission rates poses a transparency issue. While they have a noted FSC offshore registration, their ASIC/SCA has been revoked and issues with FSPR noted, suggesting regulatory concerns that users should be aware of.
Is OnePro Safe?
Initially, OnePro operates through an entity located in Mauritius, which is considered an offshore jurisdiction. This entity, known as ONEPRO GLOBAL (MAURITIUS) LIMITED, falls under the regulatory oversight of the Financial Services Commission (FSC, No. GB20025905). The FSC has granted this entity a Retail Forex license, permitting it to conduct forex services.
However, their status with other regulatory bodies raises some concerns. They previously held an Appointed Representative License from the Australia Securities & Investment Commission (ASIC, No. 001286818), and a Common Financial Service License from the Securities and Commodities Authority in the United Arab Emirates (SCA, No. 607019), both of which have been revoked.
Additionally, in New Zealand, ONEPRO GROUP NZ LIMITED (registered under FSPR, No. 100479) holds a Financial Service Corporate registration. However, it lacks the required license for forex training, which exceeds its authorized activities.
Market Instruments
OnePro provides a wide range of market instruments that make it a versatile platform for traders with varying interests and investment strategies. Besides the popular forex market, which appeals to traders due to its high liquidity and 24/7 availability, OnePro also offers trading in metals and energies. These can be ideal for traders looking to hedge against market volatility or invest in tangible assets.
With OnePro, traders can also deal in Contract for Differences (CFDs), an instrument that allows speculation on the price movements of fast-moving global financial markets such as shares, indices, commodities, currencies, and treasuries. Additionally, shares trading is available for those who prefer investing in individual companies.
Furthermore, OnePro provides the opportunity to trade in commodities, offering another avenue for diversification and hedging strategies. Lastly, futures are also available for those who prefer to deal in contracts that obligate the buyer to purchase an asset or the seller to sell an asset and have a predetermined future date and price.
OnePro Global Minimum Deposit
To open a Standard account, a minimum deposit of $100 is necessary, aligning with industry norms. While certain brokers, such as Axi ($0) and Exness ($10), demand lower initial deposits, it's essential to consider factors like regulation, trading conditions, spreads, fees, and other aspects alongside the deposit amount. This is especially important for beginners.
Here is the table showing the comprison of OnePro minimum deposit with other brokers:
Account Types
OnePro claims to offer four types of trading accounts, namely Standard, VIP, ECN and Islamic. The minimum initial deposit to open a Standard and VIP account is as low as $100, which seems quite acceptable for most regular traders. While the ECN account requires an immensely high account opening amount, up to $1,000. Demo accounts are also available.
OnePro Global Demo Account
OnePro welcomes beginners to explore its demo accounts, which offer a valuable opportunity to immerse themselves in the trading environment, practice their trading skills, and inject $100,000 virtual funds for clients to use.
Opening a demo account is a simple and easy process:
Step 1: Simply click on the “Open Account” button found on the OnePro Global website's homepage, and then proceed by clicking the “Open demo account” button on the subsequent popup screen.
Step 2: Then, you can complete the process by entering your personal information such as your name, email, and phone number into the designated fields. Additionally, you can customize your demo account by specifying account types, leverage ratios, and the desired deposit amount you wish to fund.
Step 3: Lastly, click the “Submit” button, and your demo account will be promptly activated. You can then use the $100,000 virtual fund to gain experience in a simulated trading environment on the platform.
Leverage
In terms of trading leverage, the maximum leverage level offered by OnePro is up to 1:500 for all instruments, which is considered high. Crucially, while high leverage can amplify gains, it can also magnify losses.
Spreads & Commissions
Spreads with OnePro are scaled with the accounts offered. Specifically, the average spread on the Standard account is 1.6 pips, 1.0 pips on the VIP account, and 0.2 pips on the Islamic account. However, the lack of information on commissions may lead to uncertainty around the total trading costs for traders. Therefore, it's essential to consider both spreads and commissions when evaluating the cost of trading with OnePro.
Below is a comparison table about spreads and commissions charged by different brokers:
Note: Spreads can vary depending on market conditions and volatility.
Trading Platforms
OnePro provides a selection of reputable and user-friendly trading platforms, including MT4, MT5, and their native ONEPRO APP.
The MetaTrader 4 and 5 are recognized globally for their advanced charting tools, automated trading capabilities and user-friendly interfaces, making them some of the best platforms for both beginners and experienced traders.
The ONEPRO APP brings the functionality of a full trading platform to mobile, catering to traders who prefer to manage their trading activities through their smartphones, maintaining continuous access to the market even when on the go.
In order to continue providing diverse options to its customers, OnePro plans on adding the cTrader platform in the future. Known for its streamlined design and advanced back-testing functionality, cTrader is growing in popularity among traders. This expansion will further solidify the variety of trading platforms that OnePro offers, catering to different trading styles and preferences.
Overall, OnePro's trading platforms are well-designed, user-friendly, and offer a range of advanced features suitable for both beginner and experienced traders. See the trading platform comparison table below:
Trading Tools
OnePro offers a range of trading tools designed to help traders make informed decisions. The Technical Analysis section provides traders with market analysis and trading signals based on technical indicators. The Daily Markets Report provides an overview of the previous day's market activity and highlights the day's potential trading opportunities. The Live Sessions allow traders to interact with professional traders and receive guidance on trading strategies.
The Market insights section provides in-depth analysis of various financial instruments, while the Economic Calendar provides a schedule of important economic events and announcements that could affect the markets. These trading tools can be very helpful for traders, especially those who are new to trading or looking to improve their trading strategies.
Deposits & Withdrawals
OnePro offers a wide range of payment methods including credit/debit cards, online wallets like Neteller and Skrill , Perfect Money, Bitcoin, Tether, online banking and bank wire transfer. The minimum deposit for both Standard and VIP accounts is $100 or equivalent, while for ECN account is $1,000 or equivalent. Deposits and withdrawals are both free.
OnePro minimum deposit vs other brokers
Most deposits and withdrawals can be processed within 24 hours, while MasterCard deposits and withdrawals requires 5-7 days. Please note that you will have to withdraw the same amount of your deposit back by the same method. Once deposits have been withdrawn, you can use an alternative method to withdraw profits.
Bonus
OnePro offers an attractive bonus scheme, presenting a 20% deposit bonus to its clients. This bonus is tradable, which provides a bigger capital amount that clients can use in their trading activities. It's losable, meaning it can buffer against potential losses in trading. The fact that it's withdrawable turns it into real profit which you can take out of your account.
While this scheme can augment the trading experience, clients are advised to intimately familiarize themselves with the full terms and conditions of the offer. These can be reviewed through the link: https://official.oneproglobal.com/wp-content/uploads/2023/09/20-percentage-Losable-Bonus-for-MENA-Markets-2023-_compressed-1.pdf. It's essential to understand the terms thoroughly to avoid any misconceptions or false expectations, which could impact your trading decisions or performance.
Customer Service
- OnePro appears to have a comprehensive customer support system in place, including various channels for contact and a multilingual team available 24/7.
- Live chat
- Contact form
- Phone/WhatsApp: +1 646-878-6710
- WhatsApp: (+971) 42781200
- Email: CS@ONEPROGLOBAL.COM
- Social networks: Twitter, Linkedin, Facebook, YouTube and Instagram
- Company address: 139a Queens Road, Panmure, Aucbland, New Zealand, 1072
Additionally, they have a physical address listed and a FAQ section on their website, indicating transparency and willingness to address customer inquiries.
Conclusion
In conclusion, OnePro is an offshore regulated online broker that offers a wide range of financial instruments, trading accounts, and trading platforms for its clients. The broker provides a variety of payment methods with low minimum deposits and fast withdrawals. OnePro also offers various trading tools and educational resources to help traders make informed decisions. However, traders should be cautious with bonus offers as fulfilling the requirements can be challenging.
Frequently Asked Questions (FAQs)
Is OnePro regulated?
Yes. It is offshore regulated by the Financial Services Commission (FSC).
At OnePro, are there any regional restrictions for traders?
Yes. The information on OnePros site is not intended for residents or clients by using this trading information from the U.S, Singapore, Hong Kong, North Korea and Iran, or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Does OnePro offer the industry-standard MT4 & MT5?
Yes. OnePro supports MT4, MT5, and ONEPRO APP. cTrader is coming soon.
What is the minimum deposit for OnePro?
The minimum initial deposit to open an account is $100.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
2024-08-27 18:07
2024-04-19 14:37
