Prodigy Spreads, leverage, minimum deposit Revealed

WikiFX | 2025-07-25 17:48

Abstract：Prodigy Markets is a broker that is not regulated. It was created in 2023 and is based in Mauritius. It lets you trade CFDs in a lot of different markets, such currencies, commodities, energies, indices, and cryptocurrencies. There are three types of MT5 accounts available (Basic, Elite, and Pro). The maximum leverage is 1:400, there are no costs for not trading, and commissions start at $0 and go up to $10 per lot, depending on the account.

Prodigy Review Summary
Founded	2023
Registered Country/Region	Mauritius
Regulation	No regulation
Market Instruments	Forex, Metals, Energies, Indices, Cryptocurrencies
Demo Account	/
Leverage	Up to 1:400
Spread	From 1.5 pips (Basic Account)
Trading Platform	MT5
Minimum Deposit	/
Customer Support	Live chat
	Phone: +971 42 564 300
	Email: support@prodigymarkets.net
	Social Media: Facebook, X, Instagram, TikTok, Telegram, LinkedIn, WhasApp
Regional Restrictions	Afghanistan, Cote dIvoire, Cuba, Iran, Libya, Myanmar, North Korea, Sudan, Puerto Rico, USA, Syria, and Yemen

Prodigy Information

　　Prodigy Markets is a broker that is not regulated. It was created in 2023 and is based in Mauritius. It lets you trade CFDs in a lot of different markets, such currencies, commodities, energies, indices, and cryptocurrencies. There are three types of MT5 accounts available (Basic, Elite, and Pro). The maximum leverage is 1:400, there are no costs for not trading, and commissions start at $0 and go up to $10 per lot, depending on the account.

Pros and Cons

Pros	Cons
Supports MT5 platform	Not regulated
Offers multiple asset classes	Regional restriction
No deposit or withdrawal fees	Wide spreads on Basic and Elite accounts
Live chat support
Popular payment options

Is Prodigy Legit?

　　Prodigy Markets is not regulated in Mauritius and does not have licenses from major financial agencies like the FCA, ASIC, or CySEC.

　　The domain prodigymarkets.net was first registered on October 7, 2023, and it will end on October 7, 2025. It is now closed for security reasons (clients can't remove, transfer, update, or renew), and GoDaddy hosts the name servers.

What Can I Trade on Prodigy?

　　Prodigy has a wide range of products, including Forex, commodities, energies, indices, and cryptocurrencies through CFDs. There are thousands of instruments that can be traded.

Tradable Instruments	Supported
Forex	✔
Metals	✔
Energies	✔
Indices	✔
Cryptocurrencies	✔
Stocks	❌
ETFs	❌

Account Types

　　There are three categories of live trading accounts at Prodigy Markets: Basic, Elite, and Pro. All accounts use MT5, facilitate market execution, and let you use Expert Advisors (EAs). The broker also offers service 24 hours a day, five days a week, although the site doesn't clearly say anything about demo accounts or Islamic (swap-free) accounts.

Account Type	Spread	Leverage	Commission
Basic	1.5 pips	Up to 1:400	$0
Elite	1.0 pips	Up to 1:300	$0
Pro	0.0 – 0.03 pips	Up to 1:300	$10 per lot

Leverage

　　On its Basic account, Prodigy gives you leverage of up to 1:400. On its Elite and Pro accounts, you may get up to 1:300. High leverage can make returns bigger, but it also makes danger much higher. Leverage makes both gains and losses bigger. If you don't limit your risks properly, it might quickly drain your account.

Prodigy Fees

　　Compared to other companies in the same field, Prodigy's trading fees are ordinary to a little high. The Basic and Elite accounts don't charge any commissions, although their spreads are rather large. The Pro account has spreads that are almost nothing, but it charges $10 each lot.

Account Type	Spread	Commission per Lot
Basic	1.5 pips	$0
Elite	1.0 pips	$0
Pro	0.00 – 0.03 pips	$10

Non-trading Fees
Deposit Fee	❌
Withdrawal Fee	❌
Inactivity Fee	Applies to dormant accounts, up to $100

Trading Platform

Trading Platform	Supported	Available Devices	Suitable For
MetaTrader 5 (MT5)	✔	Windows, macOS, iOS, Android	Experienced traders
MetaTrader 4 (MT4)	❌	/	Beginners
cTrader	❌	/	/