Profx-Overview of Minimum Deposit, Leverage, Spreads

Note: Since Profxs official site (https://profxmarket.com/) is not accessible while writing this introduction, only a cursory understanding can be obtained from the Internet.

General Information & Regulation

Profx, a trading name of Profx Market, is allegedly a suspicious regulated London-based ECN/STP and spread-betting broker that claims to provide its clients with some tradable financial instruments with flexible leverage up to 1:1000 and variable spreads from 0 pips on the worlds most trusted and popular MetaTrader4 trading platform, as well as a choice of four different account types.

Market Instruments

Profx advertises that it mainly offers forex and CFD trading. Some other trading assets like the cryptocurrency of Bitcoin are also available.

Account Types

Apart from demo accounts, there are four live trading accounts offered by Profx, namely Pro Trader, Pro Professional, Pro Market and Pro Honor. Opening a Pro Trader or Pro Professional account requires the minimum initial deposit amount of $100, while the other two account types have much higher minimum initial capital requirements of $500 and $50,000 respectively.

Leverage

Traders holding different account types can enjoy different maximum leverage ratios. Clients on the Pro Trader account can enjoy the maximum leverage of 1:1000, the Pro Professional and Pro Honor accounts can experience leverage of 1:500, and the Pro Market account has a leverage of 1:400. Inexperienced traders are advised not to use too much leverage since leverage magnifies gains and losses.

Spreads & Commissions

Profx claims that different account types can enjoy quite different spreads. In particular, the spread on the Pro Trader account starts from 2 pips, the clients on the Pro Professional account can experience spreads from 0.8 pips, while only the Pro Market and Pro Honor accounts can enjoy raw spreads from 0 pips. As for commissions, the Pro Trader and Pro Professional accounts are commission-free, while the Pro Market account has a commission of $5 per lot and the Pro Honor account has a lower commission of $3 per lot.

Trading Platform Available

The platform available for trading at Profx is the industry-standard MetaTrader4, available on desktop and mobile versions. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.

Deposit & Withdrawal

Profx says to work with the following payment methods, consisting of bank wire transfers and credit/debit cards, as well as e-wallets such as Skrill, Neteller and Perfect Money. The minimum initial deposit requirement is said to be only $10.

Customer Support

Profxs customer support can be reached by telephone: +44 745 238 3422, email: support@profxmarket.com. Besides, you can also follow this broker on some social media platforms such as Twitter, Facebook, Instagram, YouTube and LinkedIn. Company address: 71-75, Shelton Street, London.