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Rating Index

Pros

Diversified instruments and services: Praxis offers a wide range of financial products including forex, metals, indices, commodities, and CFDs, catering to various trading strategies and preferences.

Competitive spreads: The broker provides competitive spreads starting from 0.2 pips, which can help traders minimize their trading costs.

Accessible customer support: Praxis offers multiple channels for customer support, including email, phone, and a contact form, ensuring that clients can easily reach out for assistance.

Cons

Unregulated: Praxis operates without oversight from recognized regulatory bodies, raising concerns about the safety and security of client funds.

Lack of transparency: There is insufficient information regarding commission structures, trading platforms, and payment methods, making it difficult for clients to make informed decisions.

No demo account available: The absence of a demo account limits opportunities for potential clients to practice and familiarize themselves with the trading environment before committing real funds.

Praxis broker Accounts

Praxis Account Type

Praxis offers a variety of account types designed to cater to different trading needs and experience levels. The available account types include:

Bronze Account:

Suitable for beginners.
Spreads starting from 2.8 pips.
Leverage of 1:100.

Silver Account:

Aimed at intermediate traders.
Spreads starting from 2.5 pips.
Leverage of 1:200.

Gold Account:

Designed for more experienced traders.
Spreads starting from 1.5 pips.
Leverage of 1:300.

VIP Platinum Account:

For professional traders.
Most competitive conditions with spreads starting from 0.1 pips.
Leverage of 1:400.

Each account type provides access to the webtrader platform, support for numerous currency pairs and CFDs, and assistance from a personal account manager.

Praxis Broker Account Opening Process

Opening an account with Praxis is a straightforward process. Here are the steps to follow:

Visit the Praxis Website: Navigate to the official Praxis website.
Click the “Register” Button: Locate and click on the registration button on the homepage.
Fill in Personal Information: Provide required details such as your name, phone number, email address, and select your account type (individual or institutional).
Submit Identification Documents: Upload necessary identification documents for verification in accordance with KYC (Know Your Customer) regulations.
Verification: Wait for the broker to verify your details.
Deposit Funds: Once verified, you can deposit funds into your account and start trading.

By following these steps, you can successfully set up your trading account with Praxis.