Probis 2025 Review: Everything You Need to Know
Probis, an Australian-based forex broker, has faced significant scrutiny in recent months due to its controversial regulatory status and operational challenges. Established in 2009, the broker offers a range of financial instruments, including forex, commodity CFDs, and securities CFDs. However, recent developments have raised serious questions about its legitimacy and reliability as a trading platform.
Note: It is crucial to highlight that the regulatory landscape for brokers can vary significantly across different jurisdictions. The information presented here aims to provide a fair and accurate assessment based on the latest available data.
Scores Overview
We evaluate brokers based on user feedback, expert opinions, and factual data from multiple sources.
Broker Overview
Founded in 2009, Probis operates from its headquarters in Sydney, Australia. The broker was previously regulated by the Australian Securities and Investments Commission (ASIC) under license number 338241. However, its regulatory status has been revoked, leading to concerns about its operational practices. Probis offers its proprietary trading platform, known as Probis Auton, which supports trading in forex, indices, precious metals, and commodities. Despite its diverse asset offerings, the lack of regulation has resulted in a low trust score among users.
Detailed Analysis
Regulatory Geography
Probis was initially regulated in Australia under ASIC. However, the suspension of its Australian Financial Services (AFS) license due to bankruptcy raises significant red flags for potential investors. According to various sources, including WikiFX and Finance Magnates, the broker is now unregulated, which poses a high risk for traders looking to invest their funds.
Deposit and Withdrawal Options
The broker primarily accepts bank wire transfers for both deposits and withdrawals. While it does not specify a minimum deposit requirement, users have reported that domestic transfers typically take 1-2 business days, while international transfers can take 3-5 business days. However, it is essential to note that international transfers may incur additional fees from intermediary banks, which are independent of Probis.
Minimum Deposit
While the minimum deposit is not explicitly stated, the absence of a clear guideline may deter potential traders who prefer transparent fee structures. This lack of clarity is a common concern among users, as it can lead to unexpected costs.
Probis does not currently offer any bonuses or promotional offers to attract new clients. This absence of incentives may make the platform less appealing compared to competitors that provide bonuses for new account holders.
Tradable Asset Classes
Probis provides access to a variety of trading instruments, including forex pairs, commodity CFDs, and securities CFDs. However, it does not offer stocks or cryptocurrencies, which may limit trading opportunities for some users. The forex trading options include popular pairs like EUR/USD, USD/JPY, and GBP/USD, while commodity CFDs cover assets such as gold, silver, and crude oil.
Costs (Spreads, Fees, Commissions)
The cost structure for trading on Probis is not entirely transparent. Forex spreads start at 3 pips, while spreads for commodity CFDs and securities CFDs can vary. The lack of detailed commission information adds to the uncertainty regarding overall trading costs, which can be a significant drawback for potential users.
Leverage
Probis offers a maximum leverage of 1:30 for major currency pairs, which aligns with regulatory standards in Australia. However, this leverage can be risky for inexperienced traders, as it amplifies both potential profits and losses.
The primary trading platform offered by Probis is Probis Auton, which is not based on popular platforms like MT4 or MT5. This proprietary platform may limit traders who are accustomed to more widely used trading software.
Restricted Regions
Probis is primarily focused on the Australian market, but the lack of regulation raises concerns for traders from other regions. Users from jurisdictions with stringent regulatory requirements may find it challenging to trust a broker with a revoked license.
Available Customer Service Languages
Probis offers customer support primarily in English. However, user reviews indicate that the responsiveness and effectiveness of customer service are lacking, with some users reporting long wait times and inadequate support.
Final Score Overview
Detailed Breakdown
- Account Conditions: The absence of a clear minimum deposit requirement and the lack of promotional offers negatively impact the account conditions score.
- Tools and Resources: While the platform offers educational resources, the lack of widely-used trading platforms limits its appeal.
- Customer Service and Support: User feedback indicates a need for improvement in customer service responsiveness and effectiveness.
- Trading Setup: The proprietary platform may not meet the expectations of traders familiar with MT4/MT5.
- Trustworthiness: The revoked regulatory status significantly diminishes trust in the platform, leading to a low score.
- User Experience: Overall user experience suffers from a lack of transparency and regulatory concerns.
In conclusion, while Probis offers a range of trading instruments and a proprietary platform, its lack of regulation and transparency regarding costs and account conditions raise serious concerns. Potential users should exercise caution and thoroughly research before considering this platform for their trading needs.
