Trading Pro's Summary:
What is Trading Pro?
Trading Pro is a forex brokerage established in 2018, headquartered in Kingston, Saint Vincent and the Grenadines. The company primarily offers clients a variety of trading services involving forex, precious metals, indices, and stocks. However, due to regulatory reasons, it does not provide services in Australia, Belgium, France, Iran, Japan, North Korea, and the United States. Trading Pro is regulated by the Financial Sector Conduct Authority (FSCA). The minimum deposit for Trading Pro is just $1, and it offers up to 1:2000 in leverage. The spreads with Trading Pro can go as low as 0.0 pips. Trading Pro provides MT4 and MT5 platforms. Furthermore, the company offers a range of account types, including Micro, Rookie, Pro, ScalpX, and Expert accounts, to meet the varying needs from beginners to experienced traders.
For those who want to familiarize themselves with the platform before investing real funds, Trading Pro also offers the option of a demo account. This allows users to practice trading without risk. They also provide account options that comply with Islamic Sharia law. In terms of customer support, Trading Pro offers various methods of contact including phone, email, and live chat.
As for payment methods, Trading Pro supports a variety of deposit and withdrawal channels, including Visa, MasterCard, Walaopay, FasaPay, and Paytrust. Lastly, to help users improve their trading skills, Trading Pro also provides a series of educational tools.
Is Trading Pro Safe? Can Trading Pro Be Trusted?
Trading Pro is a forex broker regulated by the Financial Sector Conduct Authority of South Africa (FSCA). It is important to note that although Trading Pro follows FSCA's rules and standards, its strictness in regulation may not be at the same level as that of the Australian Securities and Investments Commission (ASIC) or the UK Financial Conduct Authority (FCA). This means that the level of protection Trading Pro offers to investors may differ from that of brokers under the regulation of ASIC or FCA.
Therefore, investors should take this into consideration when looking into Trading Pro and factor it into their risk assessment and protection measures. It is particularly important to pay attention to differences in risk management and fund safety. Investors should be aware of these different regulatory standards and make appropriate decisions based on their own needs and preferences.
Trading Instruments Offered by Trading Pro:
According to Trading Pro's official website, the broker provides trading services in financial assets including forex, precious metals, stocks, and indices. Here’s a deeper insight into the diverse market tools unique to Trading Pro:
Forex: Forex is one of the main trading instruments at Trading Pro. A wide range of currency trading options are provided, including major currency pairs, minor pairs, and exotic currency combinations.
Indices: Indices are insightful indicators offering information about a specific market section or economic condition. They consist of a compilation of stocks or bonds representing a certain industry or market. Trading Pro enables trading based on numerous global indices, allowing investors to infer the performance of an entire industry sector, not just single companies.
Precious Metals and Oil: Precious metals and oil, as commodities, have a significant impact on the global economy and have always been the focus of attention. Trading Pro offers access to various precious metals markets, such as gold, silver, and platinum, as well as the oil market. These markets are characterized by their volatility, driven by economic indicators and geopolitical events.
Cryptocurrencies: Cryptocurrencies are digital or virtual currencies that use cryptography for security. Trading Pro offers a platform for trading popular cryptocurrencies, such as Bitcoin and Ethereum, enabling traders to profit from the extreme volatility and ever-growing popularity of these digital assets.
Equities: Equities represent ownership in a company, often in the form of shares. Equity trading is the process of buying and selling these company shares in the stock market. Trading Pro enables users to trade a wide range of global stocks, providing opportunities to profit from market rises and falls.
Trading Software Offered by Trading Pro:
As a broker, Trading Pro provides two industry-standard trading platforms: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Both platforms are well-recognized, each with its advantages.
MetaTrader 4 is widely regarded as the classic choice, known for its reliability and the extensive resources it provides for traders. Its advantages include a vast knowledge base, a range of trading robots, and sets of indicators. It also offers a variety of tradable instruments such as forex, indices, precious metals, oil, cryptocurrencies, and stocks. Noteworthy features include customizable functions, ensuring the platform caters to your unique trading style.
MetaTrader 5 is the more recent product, known for faster processing speeds and distinctive netting and hedging systems. Similar to MT4, MT5 also supports a variety of tradable assets, including forex, indices, precious metals, oil, cryptocurrencies, and stocks. MT5 is characterized by an easy-to-use interface and advanced customization options. Additionally, it is more convenient for coding in MQL5 to optimize the processing of expert advisors and indicators. It also allows for hedging positions and offers an automated trading feature with around-the-clock market access.
Both platforms boast user-friendly interfaces and provide advanced analytical tools, algorithmic trading capabilities, and multi-account management features. They place a strong emphasis on user security, implementing robust protective measures to ensure the safety of your trades and personal data.
Overall, the trading platforms provided by Trading Pro offer powerful tools, a diverse range of tradable assets, and a flexible trading experience for both novice and experienced traders. It is recommended that you download and explore both platforms to determine which better suits your trading style and strategy.
Account Types:
These accounts are Micro, Rookie, Pro, Scalpx, and Expert, each designed for specific trading interests and investment levels.
Micro and Rookie Accounts: For trading beginners or those wishing to try trading at lower risks, Trading Pro's Micro and Rookie accounts are ideal choices. These two account types have a minimum deposit of just $1, making it easy for traders with limited budgets to get started. Despite their affordability, these accounts offer trading opportunities across a variety of currency pairs.
Pro Account: Experienced traders may prefer the Pro account, which has a minimum deposit of $10. It's suitable for those looking to expand their trading portfolio and manage risks effectively, offering flexible trading options and risk management tools to implement complex trading strategies.
Scalpx and Expert Accounts: For sophisticated traders seeking advanced functions and greater investment capacities, Trading Pro's Scalpx and Expert accounts are the perfect fit. These two accounts require initial deposits of $50 and $2,000 respectively, with the Expert account offering leverage up to 1:500, providing more advanced trading features and tools suitable for users with a higher risk tolerance.
All of these accounts support multi-currency trading, including USD, GBP, EUR, AUD, CAD, and JPY.
A notable advantage of all the account types offered by Trading Pro is their no overnight fee feature. This means there are no swap or carry interest charges for holding positions overnight, making these accounts a convenient choice for both short-term and long-term traders.
Deposit and Withdrawal Methods:
TradingPro offers a variety of deposit and withdrawal options including Visa, Mastercard, Walaopay, FasaPay, Paytrust, Virtual Account, and PromptPay. Each method comes with different minimum deposit requirements, and the broker does not charge additional fees for these transactions.
Minimum Deposit Amounts:
- Visa and Mastercard: $100
- Walaopay, FasaPay, and Paytrust: $10
- Virtual Account: $23
- PromptPay: 100 THB
Minimum Withdrawal Amounts:
- Visa, Mastercard, and cryptocurrencies: $100
- Walaopay and Paytrust: $15
- FasaPay: $10
- PromptPay: 300 THB
- Dragonpay: 2500 THB
The broker claims to use SSL encryption technology to secure funds and states that its operations comply with Anti-Money Laundering (AML) regulations. The company also offers 24/7 customer support services.
Additionally, as per Know Your Customer (KYC) regulations, traders are required to complete a one-time identity verification process to be able to make deposits and withdrawals. More information about the deposit and withdrawal methods can be found on TradingPro’s official website.
Leverage Ratios:
Among the several account types offered by Trading Pro, the maximum leverage ratio for the Expert account is 1:500, which is more conservative relative to the other four types of accounts - Micro, Rookie, Pro, Scalpx - which offer a maximum leverage ratio of up to 1:2000. This is an exceptionally high level of leverage within margin trading. By comparison, brokers that adhere to regulatory standards generally offer leverage ratios ranging between 1:10 to 1:100. This means that the leverage ratios of Trading Pro's Micro, Rookie, Pro, and Scalpx accounts far exceed industry averages, potentially offering traders more significant trading power, but also come with higher risks. High leverage can amplify potential gains but may also lead to larger losses. Accordingly, while the high leverage ratios might be attractive to traders seeking high-risk and high-reward strategies, they necessitate a higher level of risk management expertise and careful trading strategies from traders.
FAQ:
Q: What is the minimum deposit for a Micro account?
A: The minimum deposit for a Micro account is $1.
Q: What is the highest leverage rate they offer?
A: The highest leverage rate offered is 1:2000.
Q: Do they offer a demo account?
A: No, the broker currently does not offer a demo account.
Q: How can I open an account with this broker?
A: You can open an account by filling out the online registration form on the broker’s website.
Q: What platforms does this broker support?
A: The broker supports MT4 and MT5.
Q: What is the broker's spread?
A: Trading Pro offers floating spreads starting from 0.0 pips.
Q: What is the minimum trade size?
A: The minimum trade size is 0.01 lots.
Q: How can I contact customer support?
A: You can contact customer support round-the-clock via live chat, email, and phone.
Q: Does the broker support cryptocurrency trading?
A: Yes, users can trade various cryptocurrencies through the broker.
Q: What deposit methods are available with this multi-asset broker?
A: Deposit methods include Visa, Mastercard, Walaopay, FasaPay, Paytrust, Virtual Account, PromptPay, and Dragonpay.
Q: What are the withdrawal methods for this broker?
A: Withdrawal methods are similar to deposit methods, including Visa, Mastercard, Walaopay, FasaPay, Paytrust, Virtual Account, PromptPay, and Dragonpay.
Q: Do they provide educational content?
A: They provide various educational resources, including an economic calendar and a frequently asked questions section.
Q: Can U.S. residents open an account with the broker?
A: No, U.S. residents cannot open an account with the broker.
Q: How do I change my password?
A: You can change your password by logging into your account, going to the "Profile" section, and clicking the "Change Password" button.
Q: What types of accounts do they offer?
A: The broker offers Micro, Rookie, Pro, ScalpX, and Expert accounts.
Conclusion:
Trading Pro is a forex broker that operates normally within the financial industry. However, the broker has not disclosed any key information regarding the security of users' funds, and it offers excessively high account leverage ratios. Traderknows reminds you that before engaging in high leverage trading, it is necessary to receive comprehensive education, thoroughly understand the market mechanisms, and carefully consider your investment objectives and risk tolerance.
Trading Pro is listed as "Active" on Traderknows.
