Note: For some unknown reason, we cannot open Prudent Internationals official site (https://prudent-fx.com/) while writing this introduction, therefore, we could only gather relevant information from the Internet to present a rough picture of this broker. Traders should be careful about this issue.
General Information & Regulation
Prudent International, a trading name of Prudent International Ltd, is allegedly a forex and CFD broker registered in Belize that claims to provide its clients with various tradable financial instruments with leverage up to 1:200 and spreads from 2 pips on the MetaTrader4 for desktop and mobile apps trading platforms, as well as a choice of three different live account types.
As for regulation, it has been verified that Prudent International does not fall under any valid regulations. That is why its regulatory status on WikiFX is listed as “No License” and it receives a relatively low score of 1.83/10. Please be aware of the risk.
Market Instruments
Prudent International advertises that it offers a selection of currency pairs and CFDs on oil, gold, silver, several major and regional indices, as well as crypto coins like Bitcoin, Litecoin, Ethereum and Bitcoin Cash.
Account Types
Prudent International claims to offer three types of trading accounts, namely Standard, Regular and Pro. The minimum initial deposit amount is extremely high-$2,000 for the Standard account, while the other two account types have no further information specified. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less.
Leverage
A leverage ratio of up to 1:200 is offered by Prudent International, which is much higher than that provided by most brokers. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Spreads
Prudent Internationals website claims on its home page that the spread on EUR/USD is as low as 1.5 pips. On the Accounts page, however, as we saw the spread for the same currency pair was 2 pips. As tested on the demo MT4 account, the spread was also 2 pips, which is higher than the industry average of 1.5 pips.
Trading Platform Available
Platforms available for trading at Prudent International are the worlds leading MetaTrader4 for desktop and mobile apps (iOS and Android). In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.
Deposit & Withdrawal
In the trading area of Prudent International, we see 3 methods listed: Bank Transfer, Virtual Money and Crypto Transfer. The minimum initial deposit requirement is said to be as high as $2,000, while there is no mention of what the minimum withdrawal amount is.
Customer Support
Unluckily, we didn‘t find any useful information about Prudent International’s customer support on the Internet. Generally, regulated brokers will reveal their telephone numbers, email or company address to let their clients get in touch with them.
Risk Warning
Online trading involves a significant level of risk and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
2022-12-08 10:12
