Properfly Forex Broker provides real users with * positive reviews, * neutral reviews and 1 exposure review!
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My account was inexplicably closed by the platform this morning, and customer service has not responded. There is also about 170,000 USD in it, and there is no way to withdraw.
Summary: Properfly, a relatively new player in the forex brokerage space, has raised significant concerns among traders regarding its legitimacy and operational transparency. The broker is marked by a lack of regulation and numerous user complaints about account management issues, making it a risky choice for potential investors.
Note: It's essential to highlight that Properfly operates under different entities across regions, which may affect its regulatory status and operational practices. This review aims to provide a fair and accurate assessment of the broker based on available information.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 2 |
| Tools and Resources | 3 |
| Customer Service and Support | 2 |
| Trading Setup (Experience) | 3 |
| Trustworthiness | 1 |
| User Experience | 2 |
How We Rate Brokers: Our ratings are based on comprehensive reviews of user experiences, expert opinions, and factual data regarding the broker's operations.
Founded in 2022, Properfly Limited claims to offer a diverse range of trading services, including forex, CFDs, commodities, and cryptocurrencies. The broker provides access to the popular MetaTrader 5 (MT5) platform, which is renowned for its user-friendly interface and advanced trading capabilities. However, Properfly lacks a valid regulatory license from recognized authorities, raising serious concerns about its credibility and the safety of client funds.
Properfly is registered with the National Futures Association (NFA) in the United States, but it operates without valid regulation from other major financial authorities, such as the FCA or ASIC. This lack of regulatory oversight is a significant red flag for potential investors, as it indicates a higher risk of fraudulent activities and a lack of investor protection.
Properfly supports deposits through various methods, including USDT and bank wire transfers, although specific details regarding withdrawal options remain unclear. Users have reported difficulties in withdrawing funds, which is a common issue with unregulated brokers.
The minimum deposit required to open an account with Properfly is reported to be around $100. However, the lack of transparency regarding account types and features makes it challenging for traders to assess the overall cost of trading.
There is no information available regarding any bonuses or promotional offers provided by Properfly, which is often a standard practice among more established brokers.
Properfly claims to offer a wide array of trading instruments, including over 60 currency pairs, precious metals, energy, stocks, and cryptocurrencies. However, many users have expressed skepticism about the actual availability and accessibility of these instruments on the platform.
One of the most significant concerns with Properfly is the lack of transparency regarding trading costs, including spreads and commissions. Potential traders are often left in the dark about these essential details, which can directly impact profitability.
Properfly offers leverage ranging from 1:1 to 1:400, which can be attractive for traders looking to maximize their positions. However, high leverage also increases the risk of significant losses, especially for inexperienced traders.
The broker primarily utilizes the MetaTrader 5 platform, which is favored for its advanced features and flexibility. However, the absence of the widely used MetaTrader 4 raises concerns for traders who prefer that platform.
While Properfly claims to operate globally, the lack of a clear regulatory framework may limit its services in certain regions. Users are advised to check local regulations before engaging with the broker.
Customer support is available primarily in English, which may limit accessibility for non-English speaking traders. Reports indicate that customer service is often unresponsive, further complicating users' experiences.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 2 |
| Tools and Resources | 3 |
| Customer Service and Support | 2 |
| Trading Setup (Experience) | 3 |
| Trustworthiness | 1 |
| User Experience | 2 |
The account conditions at Properfly are lacking clarity. Users have reported issues with account access, including unexplained closures and unresponsive customer service, leading to a poor overall experience.
While Properfly claims to offer various educational resources, many users express dissatisfaction with the quality and availability of these tools. The lack of transparency about account types and trading costs further diminishes the broker's reliability.
Customer service has received overwhelmingly negative reviews, with many users reporting difficulties in reaching representatives and resolving issues. This lack of support is a significant concern for potential investors.
The trading experience on Properfly is marred by user complaints about account management and withdrawal issues. The absence of clear information regarding spreads and commissions adds to the frustration.
Trustworthiness is a critical concern for Properfly, given its lack of regulation and numerous user complaints about fund withdrawals and account access. Many reviews label the broker as potentially fraudulent.
The user experience is hampered by a lack of transparency and poor customer support. Many users report feeling misled and frustrated by their interactions with the broker.
In conclusion, Properfly presents significant risks for potential investors due to its lack of regulation, transparency, and customer support. Traders should exercise caution and consider more reputable alternatives to safeguard their investments.
