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Prospero Forex Broker provides real users with 6 positive reviews, 1 neutral reviews and 129 exposure review!

Prospero Broker Review

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ASIC Revoked

Prospero Review 136

Latest All(136) Positive(6) Neutral(1) Exposure(129)
Exposure
The staff of Prospero Markets induced and lured me into a loss of 36410 yuan. It is said that the teacher brings orders with high returns.

The staff of Prospero deceived me with my account and transaction password, promising to help me make profits. Illegal operations resulted in a loss of principal in my account. Ask for compensation for my principal of RMB 36,410.

小hhfj
2023-07-30
Exposure
Prospero is unable to withdraw

I am Liu Zhijian, opened a trading account with Prospero Markets in September 2022. The transaction has been normal until April 2023. But in early April, Prospero Markets said that my trading was illegal. I asked them to provide which orders were in violation and the reason for the violation, but they couldn't answer. Later, it promised to give all the funds, and I submitted the withdrawal. I thought it would go to the account smoothly, but who knew that Prospero Markets got stuck again. It dragged on for 3 months, and then backtracked, saying that I had run out of the principal before. The remaining funds were illegal profits, and all of them needed to be deducted. There are three accounts under my name, 10011248 made a profit of 30665.51, 10018412 made a profit of 745.09, and 10015661 lost 7902.71. A total of 30665.51+745.09-7902.71=23507.89 was deducted from the three accounts. Because there is only 20507.89 in the current account, it needs to be fully deducted. Prospero Markets treats customers with such a robber way. It is not a violation when customers loses money, but it is a violation when we make a profit. Does it really mean that customers can only lose money, not make money? What kind of integrity does such a platform provider have?

一念初见
2023-07-25
Exposure

I was brought into the platform by an agent before, and the agent set up a trap. I called the police adn they say to compensate me for 2000 dollars. I withdraw 1000 dollars. There are still 1000 dollars left and they do not withdraw it. I use it to trade and make a profit of 1921 dollars. Now, they do not withdraw and suspend my account.

FX2515210002
2023-05-22
Exposure
Unable to withdraw. Deduct profit

The platform does not wihtdraw and deduct profit. Tha agent dudct commission.

尼古拉斯24495
2023-04-08
Exposure
Suspected of fraud

Claimed to be a platform teacher, and I have been following him to operate. My Puhua account: 10015540, name: Wang Yong, 3.9 told me that if you don’t have time to follow the order, you can bind it with one click, as long as 5,000 US dollars, because the previous account only had More than 2,000 US dollars, and later added 3,000 US dollars, which was bound on the same day. I turned on the phone in the early morning of 3.10 and saw that the account balance was only 60 dollars. I sent a message to ask the other party, saying that it was a test problem, and the company would return it within a week. It has passed It's been a week, so far, there is no news, and the contact party has not responded.

连续波
2023-03-17
Exposure
Prospero fraud agent deceives deposit.

Prospero fraud agent deceives the deposit and liquidates in one night. It has not been solved till now.

万信齐发
2023-03-10
Exposure
Prospero operated on behalf of customers in violation of regulations, and lost all principal in 2 days

I added the Prospero agent WeChat kty8881666 on January 3. The publicity said that the success rate of calling orders is 95%, and some teachers have a high accuracy rate and can agree to share, so I opened the Puhua platform with him, the account number is 1001777, and the cumulative deposit is 25,000 US dollars, but I didn’t expect that the account would be liquidated after only two days of operation, with only 100 left. Do you suspect that the trader and the platform will join hands to eat customer losses? Claim compensation for all losses of 170,000 RMB,

FX2695973625
2023-02-28
Positive

Great experience with high-quality service. I would like to share my experience with this company as they have charged low brokerage despite providing me with the best online trading service, better products to work on, team support and management of the money invested properly.

2023-02-27

  

Prospero 2025 Review: Everything You Need to Know

  Summary: The Prospero broker presents a mixed bag of user experiences and expert opinions. While it offers competitive trading conditions such as low minimum deposits and a variety of tradable assets, concerns regarding its regulatory status and customer service persist. Notably, the broker operates under different entities across regions, which could impact user experience and trust levels.

  Note: Its crucial to be aware that Prospero operates through multiple entities, including those registered in Saint Vincent and the Grenadines and Australia, which may have different regulatory standards. This review aims to provide a balanced view based on available information.

  

Ratings Overview

Category Score (out of 10)
Account Conditions 7.5
Tools and Resources 6.5
Customer Service and Support 5.0
Trading Setup 7.0
Trust Level 4.0
User Experience 6.0
Overall Experience 6.0

  How We Rate Brokers: Our ratings are based on user experiences, expert opinions, and factual data regarding trading conditions, customer service, and regulatory compliance.

  

Broker Overview

  Founded in 2022, Prospero is a broker that specializes in Contracts for Difference (CFDs) and forex trading. It operates primarily through the MetaTrader 4 (MT4) platform, which is popular among traders for its user-friendly interface and extensive analytical tools. Prospero offers a variety of asset classes, including forex, commodities, and indices. However, its regulatory status is a significant concern, as it holds a revoked license from the Australian Securities and Investments Commission (ASIC), which raises questions about its legitimacy.

  

Detailed Breakdown

  •   Regulated Regions: Prospero is registered in Saint Vincent and the Grenadines, a jurisdiction known for its lenient regulatory framework. The broker previously held a license from ASIC, which has since been revoked, leading to skepticism about its credibility.

  •   Deposit/Withdrawal Currencies/Cryptocurrencies: Prospero supports deposits and withdrawals in various currencies, including USD and local currencies depending on the region. Cryptocurrency options include USDT, allowing for relatively quick transactions.

  •   Minimum Deposit: The minimum deposit requirement is set at $100 for standard accounts, making it accessible for beginner traders. However, a VIP account requires a higher minimum deposit of $3,000.

  •   Bonuses/Promotions: As of the latest information, Prospero does not appear to offer any significant bonuses or promotional incentives, which is a common practice among many brokers to attract new clients.

  •   Tradable Asset Classes: Prospero provides access to a wide range of assets, including forex pairs, commodities, indices, and precious metals. However, it does not support cryptocurrency trading, which could be a drawback for some traders.

  •   Costs (Spreads, Fees, Commissions): The broker offers competitive spreads, starting from 0.5 pips on standard accounts and 0.1 pips on VIP accounts, with no commission on standard accounts. However, there are complaints about hidden fees and withdrawal issues, which could impact overall trading costs.

  •   Leverage: Prospero offers leverage up to 1:400, which is attractive for traders looking to amplify their positions. However, such high leverage also increases the risk of significant losses.

  •   Allowed Trading Platforms: The primary trading platform offered is MetaTrader 4 (MT4), which is known for its robust features and flexibility. However, there is no mention of support for MetaTrader 5 (MT5) or other platforms.

  •   Restricted Regions: Prospero does not offer services to residents of certain countries, including Australia and North Korea, which could limit its accessibility for some potential users.

  •   Available Customer Service Languages: Customer support is available in English and Chinese, but there are complaints regarding slow response times and a lack of comprehensive support options, such as a dedicated phone line.

      

  

Ratings Revisited

Category Detailed Explanation
Account Conditions Prosperos low minimum deposit and competitive spreads are appealing, especially for new traders. However, the lack of promotions and bonuses is a downside.
Tools and Resources The MT4 platform offers various trading tools, but the absence of educational resources and comprehensive market analysis limits traders' potential.
Customer Service and Support Customer support is available but is often criticized for being slow and lacking effectiveness. The absence of a phone support option is a notable drawback.
Trading Setup Overall trading conditions are favorable, but issues with withdrawal processing have been reported, which can be frustrating for users.
Trust Level The revoked ASIC license and mixed reviews about user experiences contribute to a low trust rating. Users should approach with caution.
User Experience While the platform is user-friendly, the overall experience is marred by reports of slow withdrawals and customer service issues.

  In conclusion, while Prospero offers some attractive trading features, potential users should carefully consider the risks associated with its regulatory status and customer service. Its advisable to conduct thorough research and possibly explore alternative brokers with stronger regulatory backing and better user reviews.