Properfly

Properfly is an international investment service provider registered in the United States, providing forex, commodities, cryptocurrencies and stock indices. It does not charge you any commission, nor does it have a minimum deposit. Despite this, Properfly's regulatory license exceeds the business scope regulated by United States NFA.

Pros and Cons

Is Properfly Legit?

The current regulatory status of Properfly is exceeded, which means this broker exceeds the business scope regulated by United States NFA (license number: 16275555).

What Can I Trade on Properfly?

On Properfly, you can trade a wide variety of products, including forex, commodities, cryptocurrencies, and stock indices.

Forex: Properfly offers you the opportunity to trade 62 currency pairs with low spreads.

Commodities: On Properfly, the commodities you can trade include gold and silver as well as crude oil. You can specify on the price movements of gold and silver against the dollar.

Cryptocurrencies: Properfly offers mainstream cryptocurrencies, including BTC ETH, BCH, ETC, DASH, ETC. You can choose your preferred cryptocurrencies based on market conditions.

Stock indices: Properfly offers various types of stock indices, including SPX500, GER30, UK100, FRA40, AUS200, JPN225, US30, NAS100, HK40 and ESTX500, the dollar index USDOLLAR, Hong Kong's hang seng index, the dow Jones industrial average, in London, the ftse 100, stanProperfly Limited rd &poor's 500, nasProperfly Limited q, Frankfurt, Germany, and France's CAC 40 index, the European Union (eu) 50 index, the nikkei index, Hong Kong's hang seng index, ASX 200 index, the Swedish stock 30, etc.

Account Type

The trader offers only one live account and does not provide a demo account. This can be extremely risky for inexperienced beginners, so you must proceed with caution.

Properfly Fees

Properfly does not charge commissions and has not disclosed specific spreads.

Properfly requires you to pay a margin. Margin is a reserve fund transferred from your deposit amount and allocated to your account. The size of the margin is usually a percentage of your trading amount (such as 2% or 5%), for example, a margin of 2% trading $1000000 requires a deposit of $20000.

In addition, Properfly's standard leverage is 1:100, which is relatively low compared to industry standards.

Trading Platform

MT5 is a professional, real-time trading platform that is also widely used. It offers concise, flexible, stable, and detailed dynamic quotation analysis. You can use MT5 for trading on both your computer and mobile phone.

Customer Service

Properfly provides 5/24 online chat, and you can also connect them through email.

The Bottom Line

To sum up, Properfly is commission-free and also requires no minimum deposit, making it cost-effective and ideal for short-term traders. However, it has been identified that Properfly's regulatory license exceeds the business scope regulated by United States NFA, which poses a significant risk. You'd better choose a broker under legal supervision.

FAQs

Is it safe to trade with Properfly?

No, it's not safe to trade with Properfly as Properfly's regulatory license is exceeded.

What is the maximum leverage at Properfly?

The maximum leverage is 1:100.

Does Properfly require a margin?

Yes, it requires a margin and the size of the margin is usually the percentage of the transaction for you (such as 2% or 5%).