Progresive Trade Forex Broker

Registered in St. Vincent and the Grenadines Regulated by No effective regulation at this time Year(s) of establishment Within 1 year Trading instruments 70+ currency pairs, indices, metals, energy, stocks Minimum Initial Deposit $250 Maximum Leverage 1:600 Minimum spread Information not available Trading platform Webtrader Deposit and withdrawal method Bank wire transfer/VISA/Mastercard Customer Service Email Fraud Complaints Exposure No for now General information and regulations of Progresive Trade Established in St. Vincent and the Grenadines, Progresive Trade is an online forex broker with no current effective regulation. Please be aware of the risk. In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly summarize the main advantages and disadvantages so that you can understand the broker's characteristics at a glance. Market instruments 70+ currency pairs, indices, metals, energy, stocks.....Progresive Trade allows clients to access a huge range of trading markets. Therefore, both beginners and experienced traders can find what they want to trade on Progresive Trade. But we also noticed that cryptocurrencies are not currently available. Spreads and commissions for trading with Progresive Trade Progresive Trade does not detail on its website additional trading costs such as spreads, commissions, SWAPs, etc. These costs are very important when calculating profits and losses, and should be considered in aggregate and not chosen in isolation. If you want to trade with Progresive Trade, we recommend that you take the time to calculate these transaction costs. Account Types for Progresive Trade Demo Account: Progresive Trade doesnt provide a demo account that allows you to try out the financial markets without the risk of losing money. Live Account: Progresive Trade offers a total of 6 account types: Beginner, basic, independent, advanced, investor and premium. the minimum deposit to open an account is $250, $1500, $5000, $10,000, $25,000 and $100,000 respectively. If you are still a beginner and don't want to invest too much money in Forex trading, a beginner account will be the most suitable option for you. However, we should also realize that too little capital not only reduces losses, but also reduces profitability. Therefore, you may find it “unexciting” or unprofitable. In addition, accounts with smaller initial deposits tend to have poorer trading conditions. Trading platforms offered by Progresive Trade The trading platform offered by Progresive Trade is a webtrader, which means that the client doesnt have to download a software to use it. Leverage offered by Progresive Trade Progresive Trade offers a maximum leverage of up to 1:600, which is a generous offer and ideal for professional traders and scalpers. However, since leverage can magnify your profits, it can also result in a loss of capital, especially for inexperienced traders. Therefore, traders must choose the right amount according to their risk tolerance. Deposit and withdrawal methods and fees As for deposits and withdrawals, the company lists only a few payment options, but does not cover the most important parts, such as additional fees, minimum amounts, time required for procedures, etc. Educational resources A series of educational resources is available at Progresive Trade, such as economic calendar, calculators, currency converter, news, etcetera. Customer support of Progresive Trade Below are the details about the customer service. Language(s): English, Spanish Service Hours: 24/5 Email: support@progresivetrade.com Users exposures on WikiFX We have not received any reports of fraudulent activity at this time. Advantages and disadvantages of Progresive Trade Advantages: High leverage Disadvantages: No effective regulation Few information available No MT4/MT5 No copy trading No demo account Frequent asked questions about Progresive Trade Is this broker well regulated？ No, it is currently not effectively regulated and you are advised to be aware of its potential risks. How much do I need to open an account with this broker？ Among several accounts, the beginner account has the lowest initial deposit of $250.