Note: Pro Trade Fx is to operate via the website - https://protradefx.com/, which is currently not yet functional and no information about the company was immediately available. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
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.
General Information & Regulation
Pro Trade Fx is allegedly a forex and CFD broker registered in Saint Vincent and the Grenadines that claims to provide its clients with various tradable financial instruments with leverage up to 1:200 and floating spreads from 0.2 pips on the web-based and MT4 trading platforms via four different live account types.
As for regulation, it has been verified that Pro Trade Fx currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.45/10. Please be aware of the risk.
Note: The screenshot date is January 11, 2023. WikiFX gives dynamic scores, which will update in real time based on the broker's dynamics. So the scores taken at the current time do not represent past and future scores.
Market Instruments
Pro Trade Fx advertises that it offers access to a wide range of trading instruments in financial markets, including Forex pairs, CFDs on gold, silver, oil, indices and stocks.
Account Types
Apart from demo accounts, Pro Trade Fx claims to offer four types of live trading accounts, namely Standard, Classic, Premium and Gold, with minimum initial deposit requirements of $250, $2,500, $20,000 and $50,000 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less.
With a Standard Account, however, you can trade only the base currencies, with a Classic Account in addition you get gold, silver and oil CFDs, while only with the premium accounts you will get full access to all the currency pairs, including the CFDs on indices and stocks.
Leverage
The leverage is capped at 1:200. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Spreads
Standard Account spreads are fixed and start at 2.4 pips, while with a Classic Account, the EUR/USD spread is 2.4 pips and is floating. With the Premium and Gold accounts, the spreads are advertised to start at 0.6 pips. As tested with a demo account, surprisingly, the EUR/USD spread was floating around pips and the trade was without commission.
Trading Platform Available
The platform available for trading at Pro Trade Fx is one of the most notable and preferred trading platforms the market offers - MetaTrader4, and a web trading platform. The MT4 is highly praised by traders and brokers alike due to its ease of use and great functionality, offering top-notch charting and flexible customization options. It is especially popular for its automated trading bots, a.k.a. Expert Advisors.
Deposit & Withdrawal
With Pro Trade Fx, you can deposit or withdraw money only with Visa, MasterCard and Maestro, as well as via bank wire. The minimum initial deposit requirement is as high as $250.
Customer Support
The only way you can approach Pro Trade Fx is via email: support@protradefx.com. This broker doesnt disclose other more direct contact information like telephone numbers and the company address that most transparent brokers offer.
Pros & Cons
Frequently Asked Questions (FAQs)
2022-12-13 11:21
2022-12-08 14:44
