WikiFX report: ProsperityFX review – Is prosperity4x.com scam or good forex broker?

ProsperityFX offers a good variety of trading instruments – over 55 currency pairs, 30 crypto CFDs as well as CFDs on commodities, indices and stocks, with leverage as high as 1:500 and the MetaTrader4 platform – the most popular trading solution on the market.

Unfortunately ProsperityFX is not a regulated broker, which along with their offshore registration raises some serious questions about their credibility. Before depositing any funds with ProsperityFX be sure to read the following lines.

Is ProsperityFX legit？

No. ProsperityFX is a unregulated broker and as such they can not be legit. Check our list of UK regulated brokers instead.

A legit forex license issued by a reputable institution like the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC) or let say the Cyprus Securities and Exchange Commission (CySEC) is your only insurance against scammers.

Regulators like FCA and CySEC, as well as all national financial watchdogs in the EU, oversee closely all forex and CFD brokers in the UK and the EU respectively, making sure that they abide by strict fiscal and ethical rules, as for example to keep all clients funds in a segregated from their own, protected from creditors, trust accounts, to maintain at least 730 000 EUR in operational capital, readily available to cover all possible payments towards clients, to provide traders with a negative balance protection, to report all transactions, to allow external audits and even to participate in client compensation schemes, insuring the capital of each trader up to a certain amount – 85 000 GBP with brokers regulated in the UK and 20 000 EUR with most brokers regulated in the 27 EU member states.

As for ProsperityFX, they say to be owned and operated by ProsperityFX Ltd. – a company based in St Vincent and the Grenadines, which, as we already noted, is not licensed. That basically means that the safety of your funds, if you open a trading account with ProsperityFX, will depend entirely on the integrity of the people, who run the broker.

Can I make money ProsperityFX？

No. We seriously doubt that you will be able to withdraw a single dollar. Check our list of EU regulated brokers instead.

The usual story, when you open a trading account and make a small initial deposit with a unregulated broker like ProsperityFX goes more or less like this. The victim starts getting regular phone calls by a dedicated, personal account manager, who in practice will be trying to convince the person in question to deposit more and more. That is how real money are made, the victim will be told.

And the person will be assured that returns are 100% guaranteed, forgoing the fact that forex is a high risk investment and nearly 75% of traders lose money even with legit brokers.

Also, when a withdraw request is made, the victim is usually told that he or she is not eligible to withdraw anything, because of some minimum trade volume requirement, linked to a trading bonus. Whatever the excuse, be aware that scammers never pay back.

On top of that in their Client Agreement ProsperityFX mentions a series of charges, without bothering to clarify what exactly. And if that is not bad enough they also reserve the right to change those charges, on their sole discretion and without a notice. See for yourself:

What is the minimum deposit requirement at ProsperityFX？

The minimum deposit requirement at ProsperityFX is 10 USD, and they do allow micro lot trade. As this is not a legit broker, however, here we would also recommend that you check our list of brokers, allowing micro lot trade as well.

What leverage is available at ProsperityFX？

ProsperityFX offers leverage as high as 1:500, but as their credibility is rather poor, we would also suggest that you check our list of brokers, offering leverage as high as 1:500 as well.

As for the trading conditions, we did check the ProsperityFX trading platform with a demo account and the benchmark EURUSD floated about 0,9 pips, which is good, if there was no trading commission. However, ProsperityFX charges a trading commission of 7 USD per lot, which basically adds another 0,7 pips to the actual spread. So here you may check as well our list of brokers, offering signifficantly lower spreads:

What trading platforms are available at ProsperityFX？

ProsperityFX offers MetaTrader4, unquestionably the most popular trading platform on the market. As the platform is provided by a third party company, about which we know basically nothing, here we would also suggest that you check our list of brokers, supporting MT4 as well.

The popularity of MetaTrader4 steams from the fact that the platform was co developed by the trading community. On an easy to use compiler every trader can develop his or her own market indicators and trading robots, also called Expert Advisors, which are then added to a free, online library, readily available to all who choose the MetaTrader4.

Also, MT4 is one of the platforms created especially to facilitate algorithmic trading, which along with the excellent set of advanced charting tools, makes MT4 a perfect choice for professional and beginner traders alike.

What payment methods are available at ProsperityFX？

ProsperityFX accepts payments with bitcoins, wire transfer and credit cards like VISA and MasterCard through a third party payment provider. So here you may also check our list of brokers, accepting credit cards as well:

Our general advice is to stick with the more conventional payment methods like credit cards, because with VISA and MasterCard you will have the option to file for a charge back in case you realize you have been scammed.