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• Our Review Method

• Is ProsperityFX Scam or Legit Broker?

• What is ProsperityFX?

• Overall ProsperityFX Ranking

• Deposits and Withdrawals

• Account types

• Pros

Cons

• Conclusion

Our Review Method ▲

In our rigorous review process, a team of seasoned financial specialists, boasting more than 20 years of experience in Forex trading, carries out an exhaustive evaluation of various trading services. Our team delves deep into the investigation of fees, assesses the trading platforms, and verifies adherence to regulatory standards. We also interact directly with customer support and conduct actual trades to gain a real-world understanding of the trading conditions. This comprehensive approach enables us to provide informed insights and advice on why we recommend avoiding ProsperityFX due to the issues we've identified.

Is ProsperityFX Scam or Legit Broker? ▲

Regrettably, ProsperityFX does not meet the criteria for being considered a trustworthy brokerage. It operates under the management of EnviLLC, an entity registered by the MWALI International Services Authority in Comoros (T2023238), and also with the Financial Services Authority in Saint Vincent and the Grenadines. Despite the attractive trading conditions that may be offered by brokers in these regions, they frequently lack the rigorous regulatory oversight and investor protections that are pivotal for trading security. Historical data indicates that brokers within these jurisdictions have frequently been implicated in financial misconduct or scams. For those seeking a higher degree of security and stringent regulatory compliance, it is highly recommended to opt for brokers overseen by top-tier authorities like ASIC, CySEC, or the FCA, known for their comprehensive regulatory frameworks and protective measures.

What is ProsperityFX? ▲

ProsperityFX brands itself as an ECN/STP broker, catering to a diverse clientele that includes both novice and seasoned traders. The broker asserts to support over 50,000 active traders, offering access to a wide range of over 200 trading instruments. Notable features include high leverage options of up to 1:500, compatibility with Expert Advisors, and support for trading strategies such as scalping and hedging. Despite these offerings, a detailed examination reveals several significant concerns about ProsperityFX that potential investors should be acutely aware of. Among these are the broker's insufficient regulatory oversight, a slew of negative customer feedback focusing on lack of transparency, challenges in the withdrawal process, and less-than-satisfactory customer service experiences.

Overall ProsperityFX Ranking ▲

Our comprehensive analysis and comparison against a broad selection of over 1000 brokers have led us to harbor significant reservations about the trustworthiness and regulatory compliance of ProsperityFX. As a consequence, we assign ProsperityFX an overall ranking of 1.5 out of 5. This assessment reflects our findings and juxtaposes ProsperityFX with other industry-leading and reputable brokers.

Deposits and Withdrawals ▲

ProsperityFX facilitates the funding of trading accounts through various cryptocurrencies, including Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Ripple (XRP), Dogecoin (DOGE), and USDT (ERC20), with a minimum required deposit of just $10. Deposits typically are processed within the timeframe of 1-3 hours, contingent on the current Blockchain traffic. Notably, ProsperityFX does not restrict the number of withdrawal requests a trader can make, although the site lacks explicit details regarding the minimum withdrawal amounts. Withdrawal requests to traditional banking systems are processed within 1 to 3 days, whereas cryptocurrency withdrawals are usually completed within 1 to 3 hours. Despite these provisions, a substantial number of complaints have been lodged concerning the withdrawal process, indicating potential risks to investment and profit retention.

Account types ▲

ProsperityFX offers a variety of account types, each tailored to different trading preferences and requirements. These include the Standard, Pro, VAR, Mini, and Islamic accounts. The VAR account, functioning as an STP account, does not levy a fixed commission per lot but has a maximum spread of 1.2 pips. Meanwhile, Standard and Islamic accounts incur a fixed commission of $7, with the Pro accounts subjected to an $8 commission.

Pros ▲

• Offers a range of account types catering to different trader needs.

• Supports high leverage up to 1:500.

• Provides access to over 200 trading instruments.

Cons ▲

• Lacks regulation from toptier authorities, raising concerns about safety and reliability.

• Has garnered numerous negative customer reviews, particularly regarding withdrawal processes and customer support.

• Offshore registration raises potential risks of financial fraud or scam involvement.

Conclusion ▲

In light of the information compiled regarding ProsperityFX, there are profound concerns regarding the broker's reliability and overall integrity. The brokerage's offshore registration further exacerbates these concerns, heightening the risk of affiliations with financial misconduct. Consequently, we advise caution when considering engagement with ProsperityFX. We strongly recommend prioritizing brokers with established reputations for excellence, those that consistently deliver superior trading conditions and dependable services. Emphasis should be placed on selecting brokers regulated by reputable authorities such as the FCA, ASIC, or CySEC, as these entities offer enhanced levels of security and protection. Based on our extensive evaluation and comparison with over 1000 brokers, our overall experience and ranking for ProsperityFX are decidedly negative, leading us to recommend against trading with this broker.