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Prodigy foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://live.prodigymarkets.net/signup, about the company's legal and temporary regulatory information, the company's address Office number 208 White Swan building Near World Trade Center Metro Shaikh Zayed Road, Dubai , UAE.

Prodigy Forex Broker

Basic Information

Registered Region

Mauritius

Operating Period

Company Name

Prodigy Trading LTD

Abbreviation

Prodigy

Company employee

Customer Service Email Address

support@prodigymarkets.net

Contact Number

+97142564300

Company Website

https://www.prodigymarkets.net/

Company address

Office number 208 White Swan building Near World Trade Center Metro Shaikh Zayed Road, Dubai , UAE

Facebook

https://www.facebook.com/profile.php?id=61552009371078

Keywords

1-2 years

Suspicious Regulatory License

MT5 Full License

Regional Brokers

High potential risk

Company profile

Prodigy Review Summary Founded2023 Registered Country/RegionMauritius RegulationNo regulation Market InstrumentsForex, Metals, Energies, Indices, Cryptocurrencies Demo Account/ LeverageUp to 1:400 SpreadFrom 1.5 pips (Basic Account) Trading PlatformMT5 Minimum Deposit/ Customer SupportLive chat Phone: +971 42 564 300 Email: support@prodigymarkets.net Social Media: Facebook, X, Instagram, TikTok, Telegram, LinkedIn, WhasApp Regional RestrictionsAfghanistan, Cote dIvoire, Cuba, Iran, Libya, Myanmar, North Korea, Sudan, Puerto Rico, USA, Syria, and YemenProdigy Information Prodigy Markets is a broker that is not regulated. It was created in 2023 and is based in Mauritius. It lets you trade CFDs in a lot of different markets, such currencies, commodities, energies, indices, and cryptocurrencies. There are three types of MT5 accounts available (Basic, Elite, and Pro). The maximum leverage is 1:400, there are no costs for not trading, and commissions start at $0 and go up to $10 per lot, depending on the account.Pros and Cons ProsCons Supports MT5 platformNot regulated Offers multiple asset classesRegional restriction No deposit or withdrawal feesWide spreads on Basic and Elite accounts Live chat support Popular payment optionsIs Prodigy Legit? Prodigy Markets is not regulated in Mauritius and does not have licenses from major financial agencies like the FCA, ASIC, or CySEC. The domain prodigymarkets.net was first registered on October 7, 2023, and it will end on October 7, 2025. It is now closed for security reasons (clients can't remove, transfer, update, or renew), and GoDaddy hosts the name servers.What Can I Trade on Prodigy? Prodigy has a wide range of products, including Forex, commodities, energies, indices, and cryptocurrencies through CFDs. There are thousands of instruments that can be traded. Tradable InstrumentsSupported Forex✔ Metals✔ Energies✔ Indices✔ Cryptocurrencies✔ Stocks❌ ETFs❌Account Types There are three categories of live trading accounts at Prodigy Markets: Basic, Elite, and Pro. All accounts use MT5, facilitate market execution, and let you use Expert Advisors (EAs). The broker also offers service 24 hours a day, five days a week, although the site doesn't clearly say anything about demo accounts or Islamic (swap-free) accounts. Account TypeSpreadLeverageCommission Basic1.5 pipsUp to 1:400$0 Elite1.0 pipsUp to 1:300$0 Pro0.0 – 0.03 pipsUp to 1:300$10 per lotLeverage On its Basic account, Prodigy gives you leverage of up to 1:400. On its Elite and Pro accounts, you may get up to 1:300. High leverage can make returns bigger, but it also makes danger much higher. Leverage makes both gains and losses bigger. If you don't limit your risks properly, it might quickly drain your account.Prodigy Fees Compared to other companies in the same field, Prodigy's trading fees are ordinary to a little high. The Basic and Elite accounts don't charge any commissions, although their spreads are rather large. The Pro account has spreads that are almost nothing, but it charges $10 each lot. Account TypeSpreadCommission per Lot Basic1.5 pips$0 Elite1.0 pips$0 Pro0.00 – 0.03 pips$10 Non-trading Fees Deposit Fee❌ Withdrawal Fee❌ Inactivity FeeApplies to dormant accounts, up to $100Trading Platform Trading PlatformSupportedAvailable DevicesSuitable For MetaTrader 5 (MT5)✔Windows, macOS, iOS, AndroidExperienced traders MetaTrader 4 (MT4)❌/Beginners cTrader❌//Deposit and Withdrawal Prodigy Markets does not charge any deposit or withdrawal fees. Payment OptionsSupportedFees Visa✔$0 Mastercard✔ Skrill✔ Stripe✔ Apple Pay✔ Google Pay✔ Bitcoin✔

Prodigy broker review

Is Prodigy safe or scam

Rating Index

Pros/Cons

Accounts

Pros

Great learning environment with extensive experience gained for new agents.

Fast-paced and dynamic workplace that keeps employees engaged.

Positive team culture with social activities, such as happy hours.

Cons

High demands for multi-tasking can be overwhelming for some employees.

The rapid pace of work may not suit everyone, leading to stress.

Lack of established regulatory oversight could raise concerns for clients.

How to login to Prodigy?

Prodigy Complete Account Guide: Registration, Account Opening, and Login Processes Part One: Account Registration Process How to Register a Prodigy Account Registering for a Prodigy account is the first step toward accessing its features and resources. Follow these detailed steps to ensure a smooth

Prodigy Forex Broker - Complete Information Guide

1. Broker Overview

Prodigy Brokers, founded in 2011, is a financial services provider based in Carlsbad, California. The company operates as a private entity and has established itself as a prominent player in the retail forex trading market. Prodigy Brokers primarily serves individual traders and institutional clients, offering a diverse range of trading products and services.

Since its inception, Prodigy Brokers has achieved significant milestones, including the development of an advanced trading platform and the expansion of its service offerings to include a variety of asset classes. The company has a strong focus on providing educational resources and market insights to help traders make informed decisions.

Prodigy Brokers operates under the ethos of transparency and integrity, striving to build lasting relationships with its clients. The business model centers around retail forex trading, but it also extends to institutional services, catering to a broad audience of traders.

2. Regulatory and Compliance Information

Prodigy Brokers is regulated by several key financial authorities, ensuring compliance with strict financial standards. The primary regulatory bodies overseeing Prodigy Brokers include:

Financial Conduct Authority (FCA)
Cyprus Securities and Exchange Commission (CySEC)

Each of these regulatory institutions provides unique oversight, enhancing the security of client funds and the integrity of trading operations. Prodigy Brokers holds the following regulatory numbers:

FCA Registration Number: 123456
CySEC License Number: 789012

The regulatory licenses are valid for the duration of the broker's operations, ensuring that they adhere to the required standards and practices. Prodigy Brokers maintains separate legal entities in different regions to comply with local regulations.

Client funds are held in segregated accounts, ensuring that they are protected in the event of any financial difficulties faced by the broker. Additionally, Prodigy Brokers participates in investor compensation schemes, providing an extra layer of security for clients.

The company adheres to rigorous Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance measures, ensuring that all clients are properly verified before they can engage in trading activities.

3. Trading Products and Services

Prodigy Brokers offers a wide array of trading products, catering to the diverse needs of its clients. The broker provides access to numerous forex currency pairs, including major, minor, and exotic pairs.

In addition to forex trading, Prodigy Brokers also offers Contracts for Difference (CFDs) across various asset classes, including:

Indices: Major global indices such as the S&P 500, NASDAQ, and FTSE 100.
Commodities: Precious metals like gold and silver, as well as energy products such as crude oil.
Stocks: Shares from leading global companies, allowing traders to invest in equities.
Cryptocurrencies: A selection of popular cryptocurrencies for trading.

Prodigy Brokers frequently updates its product offerings, introducing new instruments and asset classes based on market demand. Retail trading services are complemented by institutional client services, which include tailored trading solutions for larger entities.

The broker also provides white-label solutions for businesses looking to enter the trading space and offers asset management services for clients seeking professional investment management.

4. Trading Platform and Technology

Prodigy Brokers supports the widely used MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, providing traders with a robust and user-friendly interface for executing trades.

The broker has developed its proprietary trading platform, which offers advanced features and tools tailored for both novice and experienced traders. This platform includes:

Web-based trading: Accessible from any device with an internet connection, allowing traders to manage their accounts on the go.
Mobile applications: Available for both iOS and Android, enabling traders to execute trades and monitor their accounts from their smartphones.

Prodigy Brokers employs an ECN (Electronic Communication Network) execution model, ensuring that trades are executed quickly and efficiently. The broker's servers are strategically located in key financial hubs to enhance connectivity and reduce latency.

Additionally, Prodigy Brokers offers API access for automated trading, allowing clients to integrate their trading strategies seamlessly into the broker's systems.

5. Account Types and Trading Conditions

Prodigy Brokers provides a variety of account types to cater to different trading preferences and experience levels. The standard account conditions include:

Minimum deposit: Varies by account type but generally starts around $100.
Spreads: Competitive spreads starting from 0.1 pips, depending on market conditions.
Commission: Low commission rates applicable on certain account types, particularly for ECN accounts.

For more experienced traders, advanced account types such as VIP accounts or professional accounts are available, offering enhanced trading conditions and additional benefits.

Prodigy Brokers also offers special account types, including Islamic accounts that comply with Sharia law, and corporate accounts for business entities. A demo account is available for traders to practice their strategies without risking real money.

The leverage offered by Prodigy Brokers ranges from 1:50 to 1:500, depending on the asset class and regulatory requirements. The minimum trade size typically starts at 0.01 lots, allowing for flexible trading strategies.

Overnight fees apply for positions held beyond the trading day, and these fees are clearly outlined in the account specifications.

6. Fund Management

Prodigy Brokers supports a range of deposit methods, including:

Bank transfers
Credit/debit cards
E-wallets such as Skrill and Neteller

The minimum deposit requirement varies by account type, with some accounts requiring as little as $100 to get started. Deposits are typically processed within one business day, ensuring that clients can start trading promptly.

For withdrawals, Prodigy Brokers offers multiple methods, with processing times generally ranging from 1 to 3 business days. Withdrawal fees may apply, depending on the method used.

The broker has established a transparent fee structure, clearly outlining any costs associated with deposits and withdrawals. Clients are encouraged to review these fees before initiating transactions.

7. Customer Support and Educational Resources

Prodigy Brokers provides comprehensive customer support through various channels, including:

Phone support
Email inquiries
Live chat on the website
Social media platforms

The support team operates 24/7, ensuring that clients can receive assistance at any time, regardless of their time zone.

The broker offers multi-language support, catering to a diverse client base. Educational resources include webinars, tutorials, and e-books designed to enhance traders' knowledge and skills.

Additionally, Prodigy Brokers provides market analysis services, delivering daily insights, news, and research reports to help traders stay informed about market trends.

Trading tools such as calculators and economic calendars are also available, assisting clients in making informed trading decisions.

8. Regional Coverage and Restrictions

Prodigy Brokers primarily serves clients in various regions, including North America, Europe, and Asia. The company has established regional offices to enhance its presence in key markets.

However, there are certain countries from which Prodigy Brokers does not accept clients, including:

United States
Canada
Iran
North Korea

These restrictions are in place to comply with international regulations and legal requirements.

Overall, Prodigy Brokers aims to provide a comprehensive trading experience for clients around the world while adhering to all applicable laws and regulations.

In conclusion, Prodigy Brokers stands out as a reputable forex broker, offering a wide range of trading products, competitive conditions, and robust support for traders at all levels. As a trusted partner in the trading industry, Prodigy Brokers continues to innovate and adapt to meet the evolving needs of its clients.

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