WikiFX Review: Is ProsperityFX trustworthy?

What ProsperityFX is

ProserityFX Markets is an online financial services provider that is based in Kingstown, Saint Vincent, and the Grenadines. Please note Saint Vincent and the Grenadines is an attractive place for financial companies to operate through an offshore company. there is no sharp regulation or overseeing of the company operation implemented. The SVG broker can run its activity and accept forex payments through credit cards but is not overseen.

Regulation

There is no regulatory information on the broker's website at the moment. Therefore, ProsperityFX is an unlicensed broker. WikiFX has given this broker a very low rating of 1.3/10 and you should fully understand the potential risks.

(Note: Because different regions or countries have different levels of regulatory strictness, the score of the same broker might be slightly varied in other regions or countries. For details, please consult WikiFX customer service.)

Market Instruments

ProsperityFX provides traders with a wide range of tradable instruments, including forex, indices, commodities, and cryptocurrencies.

Minimum Deposit

ProsperityFX has five types of accounts to suit different investors' investment needs and trading experience, mainly Standard (minimum deposit of $50), Mini (minimum deposit of $50), Mini (minimum deposit of $25), Floating Spread (minimum deposit of $250) and Pro (minimum deposit of $500).

Account Types

(from ProsperityFX website)

Leverage

ProsperityFX offers the maximum trading leverage up to 1:500. Since leverage, can amplify both profits as well as losses, choosing the right amount is a key risk determination for traders.

Spreads & Commissions

Spreads on ProsperityFX standard accounts start at 0.4 pips, and commissions are $7 per lot. Pro accounts have spreads starting at 0.4 pips and commissions of $8 per lot. Floating spread accounts are available from 1.2 pips, and no commission is payable. Mini accounts have spreads from 1.0 pips and a commission of US$1 per lot. Spreads on Islamic accounts start at 0.8 pips, and commissions are $7 per lot. Besides, the minimum spread for the German 30 is 1.2 pips, the minimum spread for the US 30 is 2.4 pips, and the minimum spread for the Nasdaq 100 is 0.6 pips. The minimum spread for Gold is 0.2 pips, and for Silver 0.5 pips. The minimum spread for Bitcoin is 82 pips, and the minimum spread for Litecoin is 0.7 pips.

Trading Platform

ProsperityFX offers clients an MT4 trading platform, which supports algorithmic trading, intelligent trading, and advanced technical analysis and is available for desktop, Apple and Android, giving traders the freedom to trade anywhere, anytime. According to the ProsperityFXs website, ProsperityFX wishes to launch the MT5 platform in the future.

Deposit & Withdrawal

ProsperityFX supports deposits and withdrawals via VISA, MasterCard, and Wire Transfer. This broker also allows clients to deposit by Bitcoin and AltCoins. Thanks to the text color, the description on its website is unclear to see.

(from ProsperityFX website)

Conclusion:

As of April 1, 2022, we didn‘t find any complaints related to ProsperityFX on WikiFX yet, but it doesn’t mean it is an absolutely reliable broker. As long as ProsperityFX doesn‘t hold a legitimate license, your money is in danger under ProsperityFX’s management. We encourage you to do more research before making a decision. If you want to know more information about the reliability of certain brokers, you can open our website (https://www.WikiFX.com/en). Or you can download the WikiFX APP for free through this link (https://www.wikifx.com/en/download.html). Running well in both the Android system and the IOS system, the WikiFX APP offers you the easiest and most convenient way to seek the brokers you are curious about.