twproperfly.com is a contract for difference (CFD) broker, with its official website domain registered on August 13, 2024. The broker primarily offers trading services for financial derivatives such as forex, precious metals, commodities, energy, stocks, and indices. It does not provide services to jurisdictions where doing so would violate local laws or regulations.
Company Registration Information and Regulatory Status
According to information available on its official website, twproperfly.com claims to have obtained licenses from several regulatory bodies, including the Financial Crimes Enforcement Network (FinCEN) in the United States (MSB ID: 31000257135391), the National Futures Association (NFA) in the United States (NFA ID: 0559918), the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), the Belize Financial Services Commission (FSC) (ProperFly Limited, License No. 000261309), and the Dubai Financial Services Authority (DFSA), and adheres to strict regulatory standards.
Upon verification, it was found that the company, regulatory information, as well as the website design and content mentioned on twproperfly.com, were all plagiarized from the well-known broker XM. Furthermore, the Belize Financial Services Commission (FSC) does not have a licensed company with the number 000261309. The FinCEN website shows that the company with MSB number 31000257135391 is Goldmans Global. Similarly, the NFA website indicates that the company with NFA ID 0559918 is also Goldmans Global, and it is registered as a non-member with the NFA, meaning it is not regulated by the NFA.
Trading Instruments
twproperfly.com provides trading services for various financial derivatives, including:
- Forex: The exchange of currencies from different countries, the largest financial market in the world, primarily used for currency conversion and speculation.
- Precious Metals: Such as gold and silver, used as investment tools to hedge against inflation and economic uncertainty, with prices typically influenced by economic instability and inflation.
- Commodities: Covering raw materials and agricultural products such as oil, natural gas, copper, soybeans, and wheat, with prices influenced by supply and demand and the global economic situation.
- Energy: Including oil, natural gas, and coal, sensitive to global economic and political events, with significant price volatility.
- Stocks: Representing partial ownership of companies, investors earn a share of the company's profits (dividends) and gain (capital appreciation) by purchasing stocks.
- Indices: Indicators reflecting the overall performance of markets, such as the S&P 500, Dow Jones Industrial Average, and NASDAQ Composite Index, with index changes indicating overall market trends.
Account Opening Process
The steps to open an account on twproperfly.com are as follows:
- Visit the official website and click on the "OPEN AN ACCOUNT" button on the homepage to go to the registration page.
- Enter your name, phone number, personal email, set a password, and receive an email verification code.
- Enter the verification code and submit the application form. After the account is successfully registered, complete the KYC verification to make deposits and start trading.
Trading Accounts
twproperfly.com offers four types of trading accounts: Micro Account, Standard Account, ProperFly Limited Ultra Low Account, and Shares Account.
Micro Account:
- Base Currency Options: USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, SGD, ZAR
- Contract Size: Standard Lot 1 lot = 100,000, Micro Lot 1 lot = 1,000
- Leverage: Up to 1:1000**
- Negative Balance Protection: Provided
- Major Currency Pair Spread: As low as 1 pip
- Commission: None
- Maximum Open/Pending Orders: 300
- Minimum Trade Volume: 0.01 lots (ST5)
- Lot Restriction Per Ticket: 100 lots
- Hedging Allowed: Yes
- Overnight Interest (Swap): Yes
- Islamic Account: Optional
- Minimum Deposit: $5
Standard Account:
- Base Currency Options: USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, SGD, ZAR
- Contract Size: 1 lot = 100,000
- Leverage: Up to 1:1000**
- Negative Balance Protection: Provided
- Major Currency Pair Spread: As low as 1 pip
- Commission: None
- Maximum Open/Pending Orders: 300
- Minimum Trade Volume: 0.01 lots
- Lot Restriction Per Ticket: 50 lots
- Hedging Allowed: Yes
- Overnight Interest (Swap): Yes
- Islamic Account: Optional
- Minimum Deposit: $5
ProperFly Limited Ultra Low Account:
- Base Currency Options: EUR, USD, GBP, AUD, ZAR, SGD
- Contract Size: Standard Ultra-Low Spread: 1 lot = 100,000; Micro Ultra-Low Spread: 1 lot = 1,000
- Leverage: Up to 1:1000**
- Negative Balance Protection: Provided
- Major Currency Pair Spread: As low as 0.6 pips
- Commission: None
- Maximum Open/Pending Orders: 300
- Minimum Trade Volume: Standard Ultra-Low Spread: 0.01 lots; Micro Ultra-Low Spread: 0.1 lots
- Lot Restriction Per Ticket: Standard Ultra-Low Spread: 50 lots; Micro Ultra-Low Spread: 100 lots
- Hedging Allowed: Yes
- Overnight Interest (Swap): Yes
- Islamic Account: Optional
- Minimum Deposit: $5
Shares Account:
- Base Currency Options: USD
- Contract Size: 1 share
- Leverage: No leverage
- Negative Balance Protection: Provided
- Spread: As per exchange rules
- Commission: Applicable
- Maximum Open/Pending Orders: 50
- Minimum Trade Volume: 1 share
- Lot Restriction Per Ticket: As per share value
- Hedging Allowed: No
- Overnight Interest (Swap): Yes
- Islamic Account: Provided
- Minimum Deposit: $10,000
Trading Platform
twproperfly.com claims to offer the MT5 trading platform, available for both desktop and mobile devices.
Deposits and Withdrawals
twproperfly.com does not explicitly list the supported deposit and withdrawal methods, related fees, or minimum deposit/withdrawal amounts on its website. However, upon verification on the MT5 platform, it was found that the broker named ProperFly Limited's official website is www.sohobi.com, not twproperfly.com, and the broker is not regulated.
Conclusion
Traderknows reminds investors that twproperfly.com is a scam website that fraudulently uses the information of the well-known broker XM. The contact information provided is limited to email only. Investors are advised to choose brokers with transparent information and strict regulation to avoid unnecessary financial losses.
Currently, this broker is labeled as "Suspected Fraud" on Traderknows.
