Probis 2025 Review: Everything You Need to Know
Probis, an Australian-based forex and CFD broker, has garnered attention for its diverse trading options but has recently faced significant scrutiny due to its regulatory status. Founded in 2009, this platform offers a proprietary trading platform known as Probis Auton and claims to provide access to various financial instruments including forex, commodity CFDs, and securities CFDs. However, the revocation of its regulatory license by the Australian Securities and Investments Commission (ASIC) raises concerns about the safety and legitimacy of trading with this broker.
Note: It's crucial to recognize that different entities may operate under the same name in various jurisdictions, which can lead to confusion. This review aims to provide a balanced perspective based on the most reliable sources available.
Rating Overview
We evaluate brokers based on user feedback, expert opinions, and factual data from credible sources.
Broker Overview
Probis Financial Services Limited, based in Sydney, Australia, was established in 2009. The broker offers a proprietary trading platform called Probis Auton, allowing traders to access a range of financial instruments. However, its regulatory status has been a significant concern, with ASIC revoking its Australian Financial Services (AFS) license in July 2023 due to the company's decision to enter voluntary administration. This has led to a heightened level of risk for potential clients.
Detailed Breakdown
Regulatory Geography
Probis was previously regulated by ASIC under license number 338241. However, as of July 2023, this license has been suspended, leading to a lack of regulatory oversight. This raises red flags for any potential investors considering this broker.
Deposit/Withdrawal Methods
Probis primarily accepts bank wire transfers for both deposits and withdrawals. While domestic transfers typically take 1-2 business days, international transfers may take longer, around 3-5 business days. The broker does not charge fees for deposits, but clients should be aware that intermediary banks may impose additional fees.
Minimum Deposit
The minimum deposit requirement for opening an account with Probis is unspecified, which can be a disadvantage for new traders looking for clear entry points.
Currently, Probis does not offer any bonuses or promotions, which is a common practice among many brokers aiming to attract new clients.
Tradable Asset Classes
Probis provides access to a variety of tradable assets, including forex pairs, commodity CFDs (like gold and oil), and securities CFDs. However, it does not offer stocks or cryptocurrencies, which may limit options for some traders.
Costs (Spreads, Fees, Commissions)
The spreads for forex trading typically start at 3 pips, which is higher than many competitors. Furthermore, commission details are not transparently provided on the website, leading to further ambiguity regarding trading costs. Non-trading fees, such as overnight financing charges (swap interest), can also impact overall trading expenses.
Leverage
Probis offers a maximum leverage of 1:30 for major currency pairs, which is standard for regulated brokers. However, this may not be appealing to traders looking for higher leverage options.
The primary trading platform offered by Probis is the Probis Auton, which supports trading on various devices including PCs, tablets, and mobile phones. However, it does not support popular platforms like MT4 or MT5, which could deter experienced traders accustomed to those environments.
Restricted Regions
While specific restricted regions were not mentioned, the lack of regulatory oversight suggests that traders from various jurisdictions should exercise caution when considering this broker.
Available Customer Support Languages
Probis offers customer support in English, with various channels including phone and email. However, user reviews indicate that response times may be slow, which could be a significant drawback for traders requiring immediate assistance.
Conclusion
In conclusion, while Probis offers a range of trading options and a user-friendly platform, its recent regulatory issues and lack of transparency raise serious concerns about trustworthiness and safety. The absence of clear commission structures and the higher-than-average spreads further complicate the trading experience. Potential users should carefully weigh these drawbacks against the available benefits before engaging with this broker.
FAQs
Q: Is Probis a regulated trading platform？
A: Probis was previously regulated by ASIC, but its regulatory status is currently revoked.
Q: What types of trading accounts does Probis offer？
A: Probis provides live accounts for real-money trading and demo accounts for practice.
Q: Can I access Probis's trading platform on mobile devices？
A: Yes, the Probis Auton platform is available on various devices.
Q: What is the maximum leverage offered by Probis？
A: The maximum leverage is 1:30 for major currency pairs.
Q: How can I deposit and withdraw funds with Probis？
A: Funds can be deposited via bank wire transfer, and withdrawals can be made through the trading platform or by contacting customer service.
