Score
2-5 yearsSuspicious Regulatory License
High potential risk
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Score
Regulatory Index0.00
Business Index5.65
Risk Management Index0.00
Software Index4.00
License Index0.00
No valid regulatory information, please be aware of the risk
Single Core
1G
40G
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
| Feature | Detail |
| Regulation | No regulation |
| Market Instrument | CFDs on the currency, commodity and stock |
| Account Type | N/A |
| Demo Account | N/A |
| Maximum Leverage | 1:300 |
| Spread | N/A |
| Commission | N/A |
| Trading Platform | web |
| Minimum Deposit | $50 |
| Deposit & Withdrawal Method | N/A |
Protradespot is allegedly a forex and CFD broker registered in the United Kingdom that claims to provide its clients with various tradable financial instruments with leverage up to 1:300 on the web-based trading platform, as well as 24/5 customer support service. Here is the home page of this brokers official site:
As for regulation, it has been verified that Protradespot 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 1.01/10. Please be aware of the risk.
Market Instruments
Protradespot advertises that it offers access to 2,100+ trading instruments in financial markets, including CFDs on the currency, commodity and stock.
Leverage
The maximum leverage provided by Protradespot is 1:300. 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. However, according to the regulations, British and Australian brokers have to limit their clients to 1:30, while US brokers cant provide more than 1:50.
Trading Platform Available
Instead of the world's most advanced and popularly-used MT4 and MT5 platforms, Protradespot gives traders a web-based trading platform. Anyway, you had better choose brokers who offer the leading MT4 and MT5, which are highly praised by traders and brokers alike due to their ease of use and great functionality, offering top-notch charting and flexible customization options. They are especially popular for their automated trading bots, a.k.a. Expert Advisors.
Deposit & Withdrawal
The minimum initial deposit amount at Protradespot is said to be only $50. However, the broker says nothing about the deposit and withdrawal methods.
Customer Support
Protradespots customer support can be reached by telephone: +44 2038560852, email: support@protradespot.net. Company address: 12 Endeavour Square, London E20 1JN.
Pros & Cons
| Pros | Cons |
| • Low minimum deposit ($50) | • No regulation |
| • Lack of transparency |
Frequently Asked Questions (FAQs)
| Q 1: | Is Protradespot regulated？ |
| A 1: | No. It has been verified that Protradespot currently has no valid regulation. |
| Q 2: | Does Protradespot offer the industry-standard MT4 & MT5？ |
| A 2: | No. Instead, Protradespot offers a web-based trading platform. |
| Q 3: | What is the minimum deposit for Protradespot？ |
| A 3: | The minimum initial deposit at Protradespot is said to be $50. |
| Q 4: | Is Protradespot a good broker for beginners？ |
| A 4: | No. Protradespot is not a good choice for beginners. Not only because of its unregulated condition, but also because of its lack of transparency. |
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2022-12-19 14:30
