Pro Lite Trade Forex Broker

Pro Lite TradeReview SummaryFounded2023Registered Country/RegionCanadaRegulationNo regulationMarket InstrumentsForex, Commodites, Indices, Cryptocurrencies, SharesDemo Account✔LeverageUp to 1:500Spread1 pipsTrading PlatformVertexFXMin Deposit$200Customer SupportPhone: +19254938137Email: support@prolite-trade.comPhysical Address:Bell Tower, 10104, 202 103 Ave NW, Edmonton, AB T5J 0H8, Canada.Ground floor, the catalyst, silicon avenue, 40 cybercity, Mauritius.Pro Lite Trade Information Pro Lite Trade, founded in 2023, is a new brokerage registered in Canada. The trading instruments it provides cover Forex, Commodities, Indices, Cryptocurrencies, Shares and so on. The company provides demo account for practicing and 5 tiered accounts for the different needs of customer groups. But it is currently unregulated and lacks security.Pros and ConsPros Cons Demo accounts and Tiered accountsNo regulationEconomic calendar availableNegative review from clientsCommission-freeHigh minimum depositNo MT4/5 trading platformIs Pro Lite Trade Legit? It is clear that Pro Lite Trade, which was registered in 2023 and is currently unregulated, is new and insecure.What Can I Trade on Pro Lite Trade? Pro Lite Trade offers traders the opportunity to trade Forex, Commodites, Indices, Cryptocurrencies and Shares.Tradable InstrumentsSupported Stocks✔Precious metals & Commodities✔Indices✔Cryptocurrencies✔Options❌Futures❌Derivatives❌Structured Products❌CFDS❌Bonds❌Funds❌ETFs❌Account Types Pro Lite Trade offers a demo account, Pro Lite Trade also offers 5 tiered live accounts, all with commission-free structure. The minimum initial capital for a standard account is $200, and the minimum initial capital for a exclusive account is $10000. But the higher the ranking of accounts, the smaller the spread: 1 point for exclusive accounts and 5 points for standard accounts. Leverage is up to 1:500 across all account types, which should always suggested to be used cautiously due to the magnified risks and losses along with potential gains.Account TypesStandardSilverPremiumVIPExclusiveMinimum opening balance$200$1,000$2,500$5,000$10,000Spreadfrom 5 pipsfrom 4 pipsfrom 3 pipsfrom 2 pipsfrom 1 pipsLeverage1:5001:5001:5001:5001:500Trading Fees The tighter spread will be: 1 pips for Exclusive account to 5 pips for Standard account. And there is no mention of commission on the website of this company.Trading Platform Pro Lite Trade's trading platform is VertexFX , which offered by Pro Lite Trade. It is available on web and compatible with Windows, iOS, Android and MacOS system.Deposit and Withdrawal Fundint and Pro Lite Trade can only be conducted through bank transfers and cryptocurrency. The minimum deposit amount is $200 and the minimum withdrawal amount is $20. The processing time for bank transfers is 2 banking days, and the processing time for cryptocurrency payments is instant.