ProperTrade

Note: Regrettably, the official website of ProperTrade, namely https://www.proper-trade.com/, is currently experiencing functionality issues.

What is ProperTrade？

ProperTrade, an unregulated trading platform based in the Marshall Islands, offers a range of market instruments including currency pairs, CFDs on commodities, indices, ETFs, individual stocks, bonds, and major cryptocurrencies. With a leverage of 1:200 and a EUR/USD spread of 3.5 pips, ProperTrade operates on a web-based platform and provides customer support via phone and email. However, the lack of accessibility to ProperTrade's official website raises concerns about the platform's reliability and transparency.

If you are interested, we invite you to continue reading the upcoming article where we will thoroughly assess the broker from various angles and present you with well-organized and succinct information. By the end of the article, we will provide a concise summary to give you a comprehensive overview of the broker's key characteristics.

Pros & Cons

Pros of ProperTrade:

- Wide Range of Market Instruments: ProperTrade offers a diverse selection of market instruments including currency pairs, CFDs on commodities, indices, ETFs, individual stocks, bonds, and major cryptocurrencies, providing traders with various options for investment

Cons of ProperTrade:

- Unregulated: ProperTrade operates as an unregulated trading platform, which may raise concerns about the safety and security of funds for traders. Regulation is often seen as a sign of credibility and protection for investors.

- High Spreads: The spread offered by ProperTrade, floating around 3.5 pips, is significantly higher than industry standards, potentially increasing trading costs and impacting profitability for traders.

- Inaccessible Website: The inaccessibility of ProperTrade's official website creates a lack of transparency, making it difficult for traders to fully understand the terms and conditions of trading with ProperTrade.

Is ProperTrade Legit or a Scam？

ProperTrade, currently operating without valid regulation, poses a significant risk to investors as there is no government or financial authority overseeing their operations. This lack of oversight leaves investors vulnerable to potential fraudulent activities or unethical practices by the brokerage.

Additionally, the inaccessibility of ProperTrade's official website raises further red flags about the reliability and transparency of their trading platform. This lack of transparency makes it difficult for investors to obtain crucial information about the company's services, fees, and policies, leading to increased uncertainty and concerns about the legitimacy of ProperTrade.

Investing with ProperTrade becomes even riskier due to these factors, as the absence of regulation and transparency heightens the likelihood of potential pitfalls or losses for investors.

Market Instruments

ProperTrade offers a wide range of trading instruments to cater to diverse investor preferences and trading strategies. These include over 50 currency pairs, encompassing major, exotic, and minor pairs such as USDZAR, USDTRY, USDSGD, USDSEK, USDRUB, USDPLN, USDNOK, USDMXN, USDILS, USDHUF, USDHKD, and USDDKK.

In addition to forex pairs, ProperTrade also provides CFDs on commodities like Brent, WTI Crude, natural gas, silver, gold, platinum, palladium, and copper. Moreover, ProperTrade offers CFDs on agricultural commodities such as cocoa, coffee, corn, cotton, orange juice, soybean, sugar, and wheat, providing investors with exposure to a diverse range of assets within the commodity market.

Furthermore, investors can trade on 23 indices, 30 ETFs, individual stocks, bonds, and major cryptocurrencies including Cardano, Bitcoin Cash, Bitcoin, Bitcoin Gold, Dash, EOS, Ethereum, Ethereum Classic, IOTA, Litecoin, NEO, Qtum, Tron, Stellar, Monero, Ripple, and Zcash.

Leverage

ProperTrade offers a maximum leverage of 1:200, allowing investors to amplify their trading positions and potentially maximize their profits. Leverage enables traders to control a larger position size with a smaller amount of capital, thereby increasing the potential returns on investment. With a 1:200 leverage ratio, traders can trade larger positions than their initial investment would typically allow, which can be advantageous in capturing market opportunities and maximizing gains.

However, high leverage also comes with significant risks. While it offers the potential for higher returns, it also magnifies losses if the market moves against the trader. Excessive leverage can lead to substantial financial losses and even result in margin calls or account liquidation.

Spreads & Commissions

ProperTrade, with a spread floating around 3.5 pips, offers a spread that is three times higher than the levels typically seen by traders. This higher spread may make trading with ProperTrade more expensive for traders, as it can eat into potential profits. Additionally, without access to the ProperTrade website, it is difficult to determine the specific commissions that the platform charges for trades.

Trading Platform

ProperTrade offers a web-based trading platform. While some may argue that it is overly simplified compared to more advanced platforms like MetaTrader4, ProperTrade's platform is designed to be accessible and easy to use for traders of all levels. It promises to provide users with a Desktop Terminal, a Web Trader, and a Mobile Trader, but according to reports, the actual platform falls short of these promises and has a peculiar and unprofessional appearance. This raises concerns and suggests that the broker may not be reliable.

A clear indication of a trustworthy broker is their support for well-established and professional platforms like MetaTrader4 and MetaTrader5. However, ProperTrade lacks support for these industry-standard platforms, which is a definite red flag. Legitimate brokers generally offer MetaTrader platforms due to their widespread usage and highly regarded features.

Deposits & Withdrawals

ProperTrade offers many options for depositing and withdrawing funds, accepting payments through various methods including credit and debit cards such as VISA, MasterCard, and American Express. In addition to card payments, ProperTrade also supports electronic payment systems like Neteller, Okpay, Perfect Money, Skrill, QIWI, and Webmoney, offering additional flexibility for clients to manage their funds.

Customer Service

Customers can get in touch with customer service line using the information provided below:

Telephone: +442039669160

Email: contact@proper-trade.com

support@proper-trade.com

Conclusion

In conclusion, ProperTrade offers a wide range of market instruments and high leverage options, providing traders with diverse opportunities for investment and potential profit. However, the platform's unregulated status, high spreads, and lack of transparency regarding fees and policies raise concerns about the safety, cost-effectiveness, and legitimacy of trading with ProperTrade.

Frequently Asked Questions (FAQs)

Risk Warning

Online trading involves significant 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 provided in this review may be subject to change due to the constant updating of the company's services and policies.