Overview of Trading Pro
Trading Pro Int. Ltd is a trading platform that was established in 2022. The company is registered in Saint Vincent and the Grenadines and operates under the regulation of the FSCA. It offers a low barrier of entry with a minimum deposit of just $1, coupled with a high maximum leverage of 1:2000. The platform promises competitive spreads starting from 0.0 pips.
Trading Pro offers a variety of platforms to its users, including MT4 and MT5. Its suite of tradable assets includes Forex, Indices, Precious Metals and Oil, Cryptocurrency, and Equity. The platform provides an array of account types such as Micro, Rookie, Pro, Scalpx, and Expert to cater to various trading needs.
For individuals interested in exploring the platform before investing real money, Trading Pro offers a demo account. They also provide the option for an Islamic account. Customer support is well-covered with phone, email, and online chat options. Payment methods include Visa, MasterCard, Walaopay, FasaPay, and Paytrust. Lastly, Trading Pro features a rich set of educational tools, supporting its users' trading journeys with valuable learning resources.
Regulatory Details
Trading Pro is governed by the Financial Sector Conduct Authority (FSCA) in South Africa. Although the FSCA exercises regulatory control, it's worth noting that its regulatory rigor may not match the intensity of bodies such as the Australian Securities and Investments Commission (ASIC) or the UK's Financial Conduct Authority (FCA). Thus, while Trading Pro adheres to the regulations set by the FSCA, the level of investor protection may not be on par with that provided by brokers regulated by the ASIC or the FCA.
Pros and Cons
Key advantages of this platform include its user-friendly interface, a rich repository of educational resources, and advanced charting tools. The provision of a demo account is an added benefit, particularly for novice traders looking to familiarize themselves with the platform.
However, Trading Pro does have certain areas for improvement. The platform's limited range of tradable assets could limit opportunities for portfolio diversification. Potential issues with customer service availability and occasional performance glitches with the mobile app could impact user experience. Additionally, the potentially higher fees, relative lack of comprehensive research tools, and the lengthy account approval process could pose challenges for some traders.
Market Instruments
Trading Pro provides access to a bulk of trading assets, including 57 currency pairs, precious metal, oil and more. Let's delve into the diverse spectrum of market instruments featured in Trading Pro:
Forex: Known as the “foreign exchange” market, forex is where currencies from around the globe are exchanged, traded, and speculated upon. It forms the crux of international trade and investment. In the context of Trading Pro, forex is one of the key instruments, encompassing an array of currency pairs ranging from majors, minors to exotics.
Index: Indexes offer an insightful gauge to measure a specific market segment or economy. These are compilations of stocks or bonds that represent a particular sector or market. Trading Pro facilitates transactions based on numerous major global indices, enabling investors to speculate on the performance of entire market sectors instead of individual companies.
Precious Metals and Oil: These commodities have always been popular trading instruments due to their substantial influence on the global economy. Trading Pro offers access to various precious metals like gold, silver, and platinum, along with oil markets. These markets are characterized by their volatility, driven by economic indicators and geopolitical events.
Cryptocurrency: As digital or virtual currencies use cryptography for security, cryptocurrencies have made significant strides as a recognized asset class. Trading Pro provides a platform for trading popular cryptocurrencies, such as Bitcoin, Ethereum, and others, allowing traders to benefit from the extreme volatility and growing popularity of these digital assets.
Equity: This instrument represents ownership in a company, typically in the form of shares. Equity trading, thus, is the buying and selling of these company shares on the stock market. Trading Pro enables its users to trade a vast range of global equities, offering opportunities for profit in rising and falling markets.
Account Types
Trading Pro caters to a range of trading interests and strategies through its offering of five distinct types of trading accounts, each tailored to specific trader needs and investment capacities.
For those just embarking on their trading journey or looking to test the waters with minimal risk, Trading Pro offers the Micro and Rookie accounts. Both of these account types require only a modest initial deposit of $1. Despite their affordability, these accounts provide ample trading opportunities and access to a plethora of currency pairs.
The Pro account demands a low minimum deposit of $10. This account type is well-suited to more experienced traders looking to expand their trading portfolio while keeping risk levels in check. It offers an excellent blend of flexibility and risk management tools to facilitate strategic trading.
For seasoned traders who wish to have more advanced features at their disposal, Trading Pro presents the Scalpx and Expert accounts. These require more substantial initial deposits of $50 and $2000, respectively. They offer more extensive trading features and tools designed to meet the demands of experienced traders with higher risk tolerance.
All these accounts support a broad spectrum of currencies, including but not limited to the US Dollar (USD), British Pound (GBP), Euro (EUR), Australian Dollar (AUD), Canadian Dollar (CAD), and Japanese Yen (JPY). This diverse currency offering ensures that traders can engage in international markets with relative ease.
An additional feature that sets Trading Pro accounts apart is the availability of leverage. The Expert account provides leverage up to 1:500, enabling traders to maximize potential returns on their trades. The other four account types – Micro, Rookie, Pro, and Scalpx – go even further, providing an impressive leverage of up to 1:2000. This high level of leverage can help traders potentially amplify their profits, albeit with increased risk.
A noteworthy benefit of all account types offered by Trading Pro is their swap-free feature. This means that no swap or rollover interest is charged on positions held overnight, making these accounts a convenient option for both short-term and long-term traders.
How to open an account？
Establishing a trading account with Trading Pro involves a relatively simple procedure.
Initially, you will need to visit the Trading Pro's official website or download their mobile application. Following that, look for an option that offers new account registration or sign-up, which is often located prominently on the site or app.
2. You will be required to input your personal details such as full name, contact information, and social security number (or other forms of identification depending on your country). This step is necessary to ensure compliance with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations.
3. Then, you'll have to complete a questionnaire on your financial situation and investment objectives. This information will assist Trading Pro in offering suitable investment options for you.
4. Next, provide the required documentation, which usually includes a copy of your ID, proof of address, and potentially additional financial documentation. After you've submitted your details and documents, you'll have to wait for Trading Pro's team to review and verify your account, which can take from a few hours up to a couple of days.
5. Lastly, once your account has been approved and activated, you'll need to deposit funds into your new account to start trading. The minimum deposit requirement and methods of deposit will vary depending on the broker and your country of residence. Remember to ensure that you understand the costs and risks associated with trading before you begin.
Leverage
Trading Pro offers differentiated leverage capabilities depending on the type of account a trader opts for. For those utilizing the Expert account, the highest attainable leverage is set at 1:500. This allows these expert traders to potentially magnify their trading positions up to 500 times their initial deposit.
In contrast, an even higher degree of leverage is available for the other four account types - Micro, Rookie, Pro, and Scalpx. These accounts offer an exceptional maximum leverage ratio of 1:2000. This means that traders with these accounts can potentially control a position up to 2000 times larger than their original investment.
In essence, Trading Pro's leverage framework offers ample room for amplifying trading exposures based on traders' risk tolerance and investment strategies.
Spreads & Commissions
When it comes to spreads and commissions, the Micro and Pro account holders are offered spreads starting from 1.6 pips, not that genuinely competitive. In contrast, those who opt for the Rookie, Scalpx, and Expert accounts enjoy more favorable conditions, with spreads commencing from an impressively low 0.0 pips. This extremely low starting point provides traders with these accounts an opportunity to maximize their profit potential by reducing trading costs.
As for the commissions, Trading Pro has not outlined specific rates, implying that they could vary based on factors such as the account type, trading volume, or specific market conditions. Traders are advised to reach out to Trading Pro for precise commission details tailored to their trading strategy and account type.
Non-Trading Fees
Non-trading charges are a significant aspect to consider when it comes to the cost structure of Trading Pro. These are fees that are not directly linked to trading activity but instead relate to administrative and service provisions. They may include account inactivity fees, withdrawal fees, currency conversion fees, among others.
While trading fees are typically incurred per transaction, non-trading fees could apply when a trader's account remains inactive for a certain period, or when making withdrawals or deposits. It's important to fully understand these costs, as they can impact the overall trading profitability.
Also noteworthy are possible charges related to currency conversion. For traders handling various currencies, conversion fees may apply when trading in a currency different from the base currency of their account.
Trading Platform
Trading Pro leverages the power and flexibility of two industry-leading trading platforms: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms are renowned for their advanced functionality, versatility, and user-friendly interfaces.
MT4 is widely recognized for its robust feature set, including a variety of trading indicators, expert advisors for automated trading, and extensive charting tools. Its capabilities make it a go-to platform for beginners and experienced traders alike.
On the other hand, MT5 brings additional enhancements to its predecessor, including more technical indicators, an expanded range of order types, and a more advanced built-in economic calendar. It also offers a multi-threaded strategy tester for those keen on automated trading and backtesting their strategies.
These two platforms offered by Trading Pro cater to the diverse needs of their clientele, ensuring traders at all levels have the tools and resources necessary for successful trading.
Promotion
Trading Pro Cashback or Rebate are transaction costs that are given back to the trader for each trade that are executed. Rookie and Scalpx accounts come with a cashback of 1 USD/per lot, while Micro and Pro accounts holders can enjoy a cashback of 2 USD/per lot.
Deposit & Withdrawal
Trading Pro provides various options for depositing and withdrawing funds, each with different minimum limits and all guaranteeing instant processing times.
For individuals using credit or debit cards, both Visa and Mastercard transactions are available. However, these methods come with a higher minimum limit, requiring a $100 transaction.
Several digital payment platforms are also supported by Trading Pro, namely Walaopay, FasaPay, and Paytrust. These services offer a lower minimum transaction requirement, set at just $10.
For those utilizing cryptocurrencies, Trading Pro accommodates this preference. It's important to note that the minimum transaction amount for cryptocurrency methods is higher than some other options, set at $100.
Trading Pro also supports Virtual Account transactions. This method requires a minimum deposit or withdrawal amount of $23.
Additionally, region-specific payment options are also available. PromptPay is an option for those with access to Thai Baht, with a minimum requirement of 300 THB. For Filipino users, Dragonpay is offered, requiring a minimum of 2500 PHP. These transactions, like all the others, are processed instantly.
Withdrawal
Trading Pro offers various withdrawal options. If you prefer traditional banking methods, Visa and Mastercard provide a suitable option, with withdrawals set at a minimum of 100 USD. Transactions carried out through these channels are processed within a single business day. For traders utilizing digital payment systems, Walaopay and Paytrust offer a good solution.oth. Both of these methods require a minimum withdrawal amount of 15 USD, with transactions being completed within a day's time. Similarly, FasaPay users can withdraw their funds with a lower threshold set at 10 USD, also processed within one working day.
Crypto enthusiasts aren't left out either. Withdrawals via cryptocurrency are set at a 100 USD minimum and are processed within one business day, keeping up with the fast-paced nature of the crypto world.
Local payment options are also available. PromptPay allows for withdrawals of a minimum of 300 THB, while Dragonpay requires a minimum of 2500 PHP. Both of these options are processed within one working day, offering quick and convenient withdrawals for traders in Thailand and the Philippines, respectively.
User Exposure
Trading Pro has been met with a largely unfavorable reception, as a significant number of clients have voiced their discontent with the platform, citing a range of trading-related concerns. Among the prevalent grievances highlighted by these users are persistent problems with charting, which have impeded their ability to analyze market trends effectively. Additionally, an alarming number of clients have expressed frustration over encountering difficulties when attempting to withdraw funds from their accounts, thereby raising concerns about the platform's reliability and trustworthiness.
Customer Support
Trading Pro provides robust customer support options to assist traders with their queries and concerns. They offer multiple channels for communication, including phone support, email support, and an online chat feature. Traders can reach out to the customer support team via phone for direct and immediate assistance. Alternatively, they can send inquiries or requests through email, receiving responses in a timely manner. Additionally, Trading Pro has an online chat feature, enabling real-time conversations with support representatives for quick problem-solving.
Furthermore, the platform maintains a strong social media presence on various platforms, including Twitter, Facebook, LinkedIn, and more. This allows traders to connect with Trading Pro through their preferred social media channels, accessing updates, news, and also reaching out to customer support when needed. Overall, Trading Pro offers diverse and accessible customer support options to cater to the needs of their traders.
Educational Resources
Unfortunately, it seems that Trading Pro primarily focuses on providing an economic calendar and terminology guides as part of their educational resources. Users may need to seek additional educational materials from other sources to enhance their trading knowledge.
Conclusion
In conclusion, Trading Pro presents a combination of positive and negative aspects that should be considered before making a decision. On the positive side, the platform offers a user-friendly interface, a range of account types, and advanced charting tools. Additionally, real-time market updates and the availability of a demo account can be beneficial for traders.
However, there are also some drawbacks to consider. Trading Pro may have a limited selection of tradable assets, and its customer support may not be available 24/7. Traders should be aware of potentially higher fees and occasional app performance issues. Additionally, the platform's research tools might not be as comprehensive as those offered by other platforms. The account approval process may take longer than desired, and there may be a lack of social trading features and customization options.
Taking into account both the positive and negative aspects, it is crucial for individuals to carefully evaluate their trading needs and preferences when deciding whether Trading Pro is the right fit for them.
FAQs
Q: Is Trading Pro a regulated broker？
A: It is important to check Trading Pro's regulatory status, as it may vary depending on the country or jurisdiction. Visit their website or contact their customer support for specific details regarding regulation.
Q: What is the minimum deposit required to open an account with Trading Pro？
A: The minimum deposit requirement may vary depending on the type of account and jurisdiction. It is recommended to check the Trading Pro website or reach out to their customer support for accurate and up-to-date information.
Q: What trading platforms does Trading Pro offer？
A: Trading Pro typically provides one or more trading platforms for clients to trade on. Common platforms may include popular options such as MetaTrader 4 (MT4) or a proprietary platform developed by Trading Pro. Visit their website or contact customer support for the specific trading platform options available.
Q: What types of tradable assets are offered by Trading Pro？
A: The range of tradable assets can vary among brokers. Trading Pro may offer a selection of assets, including but not limited to forex currency pairs, commodities, indices, and cryptocurrencies. Check their website or contact customer support for the detailed list of available assets.
Q: Does Trading Pro offer a demo account？
A: Many brokers, including Trading Pro, offer demo accounts to allow users to practice trading strategies without risking real money. Verify whether Trading Pro provides a demo account and inquire about its features and availability.
2024-12-01 13:24
