PROTOSS Forex Broker

Protoss Forex Broker - Complete Information Guide

1. Broker Overview

　　Protoss Capital Limited, the parent company of the Protoss broker, was established in 2022. The broker is headquartered in Hong Kong, claiming to operate under the regulations of the Securities and Futures Commission (SFC). However, it is important to note that the broker is not actually regulated by the SFC and has been identified as a clone firm using the credentials of a legitimate entity to mislead potential clients.

　　The Protoss broker primarily targets retail forex traders, offering a wide array of services that include trading in various financial instruments. The company claims to provide access to over 22,000 stocks across more than 50 exchanges worldwide, including major markets such as the US and Hong Kong. However, this claim has been met with skepticism due to the absence of credible verification.

　　Throughout its short existence, Protoss has faced significant scrutiny and has been flagged by regulatory authorities as a scam. The broker's business model appears to revolve around enticing traders with promises of high returns and extensive market access, while lacking the necessary regulatory oversight to ensure client safety.

　　The Protoss broker operates on a retail forex model, aiming to attract individual traders rather than institutional clients. This focus is evident in their marketing strategies, which emphasize accessibility and a broad range of trading options.

2. Regulation and Compliance Information

　　The Protoss broker claims to be regulated by the SFC in Hong Kong; however, this assertion is misleading. The SFC has explicitly blacklisted the Protoss broker and confirmed that it has no affiliation with the legitimate Protoss Capital Limited. This lack of regulation is a significant red flag for potential investors.

• Regulatory Authorities: The primary authority mentioned is the Securities and Futures Commission (SFC).
• Regulatory License Number: The broker does not provide a valid regulatory license number as it is unregulated.
• License Validity: Since the broker is not genuinely licensed, there is no valid period or scope for its supposed regulation.
• Legal Entities: The broker does not disclose any legitimate legal entities operating under its name.
• Client Fund Segregation: There is no information provided regarding the segregation of client funds, which is crucial for protecting investor capital.
• Investor Compensation Fund Participation: Protoss broker does not participate in any investor compensation schemes, leaving clients without any safety net.
• KYC and AML Compliance: There is no clear information about the implementation of Know Your Customer (KYC) and Anti-Money Laundering (AML) measures, which are essential for maintaining regulatory compliance.

3. Trading Products and Services

　　The Protoss broker claims to offer a diverse range of trading products, including forex pairs, CFDs, and various asset classes. However, the lack of transparency regarding specific offerings raises concerns about the broker's legitimacy.

• Forex Currency Pairs: The broker advertises access to numerous currency pairs, but specific details on the total number available are not provided.
• CFD Product Categories: Protoss claims to provide CFDs on indices, commodities, stocks, and cryptocurrencies, although these claims are not substantiated with clear information.
• Unique Products: There are no indications of any unique or proprietary trading products offered exclusively by the Protoss broker.
• Product Update Frequency: The broker does not specify how frequently it updates its product offerings or adds new instruments.
• Retail Trading Services: Protoss aims to cater to retail traders with its wide array of products, but the actual execution of these services remains questionable.
• Institutional Client Services: There is no mention of services tailored for institutional clients, indicating a focus solely on retail trading.
• White Label Solutions: Information regarding white label solutions is not available, which may suggest a lack of infrastructure to support such offerings.
• Asset Management Services: The broker does not provide details about any asset management services, further highlighting its opacity.

4. Trading Platforms and Technology

　　The Protoss broker claims to offer a proprietary trading platform known as Protoss Pro, available in both desktop and mobile versions. However, the credibility of this platform is questionable due to the absence of a demo account and registration requirements that necessitate an invitation code.

• MetaTrader 4/5 Support: There is no indication that the Protoss broker supports the widely recognized MetaTrader 4 or MetaTrader 5 platforms, which are standard among reputable brokers.
• Proprietary Platform Details: The details regarding the features and functionalities of the Protoss Pro platform are not disclosed, raising concerns about its reliability and performance.
• Web-Based Trading Platform: The broker does not provide sufficient information about a web-based trading platform, which is typically expected from modern brokers.
• Mobile Applications: There is no information available regarding the availability of mobile applications for iOS or Android devices.
• Execution Modes: The broker does not specify its execution model, whether it operates on an ECN, STP, or Market Making basis.
• Server Locations and Infrastructure: There is no disclosure of server locations or the technological infrastructure supporting the trading platform.
• API Access and Automated Trading Support: The broker does not provide any information regarding API access or support for automated trading strategies.

5. Account Types and Trading Conditions

　　The Protoss broker has not provided detailed information regarding the various account types it offers, which is essential for prospective traders to make informed decisions.

• Standard Account Conditions: Information on minimum deposit requirements, spreads, and commissions for standard accounts is not available.
• Advanced Account Types: There is no mention of advanced account types such as VIP or professional accounts, which are common among regulated brokers.
• Special Accounts: The broker does not provide any information regarding special accounts like Islamic accounts or corporate accounts.
• Demo Account Policy: The absence of a demo account option raises concerns about the broker's transparency and willingness to allow potential clients to test its services.
• Leverage Ratios: The broker does not disclose leverage ratios for different products, which is a critical factor for traders.
• Minimum Trade Sizes: There is no information regarding minimum trade sizes, which can impact trading strategies.
• Overnight Fees Policy: The broker does not provide details about overnight fees, leaving traders in the dark about potential costs.

6. Fund Management

　　The Protoss broker claims to support various deposit methods, but lacks transparency regarding the specifics of these processes.

• Supported Deposit Methods: The broker mentions bank transfers, credit cards, and debit cards as possible funding methods, but does not provide further details.
• Minimum Deposit Requirements: The minimum deposit requirements for different account types are unspecified, which is a significant oversight.
• Deposit Processing Times: The broker does not disclose how long it takes to process deposits, leaving clients without clear expectations.
• Deposit Fees: There is no information available regarding any fees associated with deposits.
• Withdrawal Methods and Restrictions: The broker does not specify withdrawal methods or any limitations that may apply.
• Withdrawal Processing Times: Information regarding the time taken to process withdrawal requests is also absent.
• Withdrawal Fee Structure: There is no clarity on the fee structure for withdrawals, which can significantly affect traders' profits.

7. Customer Support and Educational Resources

　　The Protoss broker claims to provide customer support, but lacks comprehensive details about its services.

• Support Channels: The broker offers support through email and possibly online chat, but specific details are not provided.
• Service Hours and Time Zone Coverage: There is no information regarding the operational hours of customer support or the time zones covered.
• Multilingual Support: The broker does not specify the languages supported, which is crucial for international clients.
• Educational Resource Types: The availability of educational resources such as webinars, tutorials, and eBooks is not mentioned.
• Market Analysis Services: There is no indication that the broker offers daily market analysis, news, or research reports to assist traders.
• Trading Tools: Information regarding trading tools such as calculators, calendars, or signal services is not available.

8. Regional Coverage and Restrictions

　　The Protoss broker claims to operate in multiple markets, but specific details about its regional coverage are lacking.

• Primary Service Markets: The broker appears to focus on global markets, but does not provide a comprehensive list of the regions it serves.
• Regional Office Distribution: There is no information about the distribution of regional offices, which would typically enhance client support.
• Countries/Regions Not Accepted: The broker does not specify which countries or regions it does not accept clients from, which is essential for compliance.
• Special Restrictions: There is no mention of any specific restrictions that may apply to certain regions, which could impact potential clients.

　　In conclusion, while the Protoss broker presents itself as a comprehensive trading platform, the lack of transparency, regulatory compliance, and detailed information about its services raises significant concerns. Potential clients should exercise extreme caution and consider seeking alternatives that are regulated and provide clear information regarding their operations.