Proindex-forex Forex Broker

Note: Proindex-forex is to operate via the website - https://proindex-forex.com/, which is currently not yet functional and no information about the company was immediately available. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker. Risk Warning Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only. General Information & Regulation Feature Detail Regulation No Regulation Market Instrument forex / binary options Account Type Basic, Classic, Standard and Premium Demo Account N/A Maximum Leverage 1:500 Spread Basic: from 1.9 pips | Classic: from 1.5 pips | Standard: from 1.2 pips | Premium: from 0.6 pips Commission N/A Trading Platform web Minimum Deposit $500 Deposit & Withdrawal Method credit/debit cards, Neteller, Skrill, PayPal, WebMoney, GiroPay, Bitcoin, bank transfer Proindex-forex is allegedly a forex broker registered in the United Kingdom that claims to provide its clients with leverage up to 1:500 and floating spreads from 0.6 pips on the web-based trading platform via four different live account types. As for regulation, it has been verified that Proindex-forex currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.20/10. Please be aware of the risk. Market Instruments Proindex-forex advertises that it mainly offers forex and binary options trading. However, more specific information about tradable assets cannot be found on the Internet. Account Types Proindex-forex claims to offer four types of trading accounts - Basic, Classic, Standard and Premium, with minimum initial deposit requirements of $500, $1,500, $5,000 and $10,000 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less. Leverage The maximum leverage provided by Proindex-forex is capped at 1:500. However, according to the regulations, British and Australian brokers have to limit their clients to 1:30, while US brokers cant provide more than 1:50. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you. Spreads All spreads with Proindex-forex are a floating type and scaled with the accounts offered. For example, the spread starts from 1.9 pips on the Basic account, from 1.5 pips on the Classic account, from 1.2 pips on the Standard account and 0.6 pips on the Premium account. Trading Platform Available Instead of the world's most advanced and popularly-used MT4 and MT5 platforms, Proindex-forex claims to offer a web-based trading platform. Anyway, you had better choose brokers who offer the leading MT4 and MT5, which are highly praised by traders and brokers alike due to their ease of use and great functionality, offering top-notch charting and flexible customization options. They are especially popular for their automated trading bots, a.k.a. Expert Advisors. Deposit & Withdrawal Proindex-forex claims to offer a variety of payment methods including credit/debit cards, Neteller, Skrill, PayPal, WebMoney, GiroPay, Bitcoin as well as bank transfer. Without access to a platform, however, we cannot confirm that information. The minimum initial deposit requirement is said to be $500. Fees Proindex-forex imposes a huge inactivity fee – $99.90 after 3 months of inactivity. Customer Support Proindex-forex‘s customer support can be reached by email: support@proindex-forex.com. Company address: 3 Temasek Ave, Office 7 35-37 Ludgate Hill London; 400 Broome St, New York, NY 10013, United States; Case Postale 236 Avenue de la Gare 39 1001 Lausanne; 18/9 Castlereagh St Sydney NSW 2000 Australia. However, this broker doesn’t disclose other more direct contact information like telephone numbers that most transparent brokers offer. Pros & Cons Pros Cons • Multiple account types and payment methods to choose from • No regulation • Website inaccessible • Extremely high minimum deposit required ($500) Frequently Asked Questions (FAQs) Q 1: Is Proindex-forex regulated？ A 1: No. It has been verified that Proindex-forex currently has no valid regulation. Q 2: Does Proindex-forex offer the industry-standard MT4 & MT5？ A 2: No. Instead, Proindex-forex offers a web-based trading platform. Q 3: What is the minimum deposit for Proindex-forex？ A 3: The minimum initial deposit to open a Basic account is $500, while $1,500 for the Classic account, $5,000 for the Standard account and $10,000 for the Premium account. Q 4: Does Proindex-forex charge a fee？ A 4: Like every forex broker, Proindex-forex charges a spread fee and an inactivity fee. While the information on other fees like commission and deposit & withdrawal fees is missing. Q 5: Is Proindex-forex a good broker for beginners？ A 5: No. Proindex-forex is not a good choice for beginners. Not only because of its unregulated condition, but also because of its inaccessible website and extremely high initial deposit requirement.