ProperFly Limited (www.properflygroup.com) is a contract-for-difference (CFD) broker website registered on July 10, 2024, primarily offering trading services in financial derivatives such as forex, metals, crude oil, and indices. This broker does not provide services to jurisdictions where such services might violate local laws or regulations.
Company Registration Information and Regulatory Status
According to its official website, ProperFly Limited (www.properflygroup.com) claims to be an international investment service provider, committed to offering global trading services, including risk control and transfer solutions, international spot and futures CFDs, to institutional and retail clients worldwide. The company states that it has established service centers in Australia, New Zealand, the United States, China, and other locations, with a business presence spanning globally. It also claims to have formed long-term partnerships with financial investment institutions in over 11 countries. However, the broker does not disclose its company registration information or relevant regulatory information on the website and lacks legal documents such as user agreements, privacy policies, and risk disclosures.
Upon investigation, no registration information for a company named ProperFly Limited was found on the official websites of major financial regulatory bodies such as the UK's Financial Conduct Authority (FCA), the United States' Financial Industry Regulatory Authority (FINRA), and the Australian Securities and Investments Commission (ASIC).
Therefore, ProperFly Limited (www.properflygroup.com) is essentially an unregulated scam broker website.
Trading Products
ProperFly Limited offers a variety of financial derivative trading services, including:
- Forex: The forex market is the largest and most active financial market globally, dealing with the exchange rates of different national currencies. Forex traders profit from buying and selling currency pairs (such as EUR/USD, USD/JPY) influenced by macroeconomic data, central bank policies, and geopolitical factors.
- Metals: Precious metals like gold and silver serve as safe havens for investors during uncertain times. The metals market involves trading physical commodities and futures contracts, with prices influenced by global supply and demand, inflation expectations, and the dollar's performance.
- Crude Oil: The crude oil market is a significant component of global energy trading, characterized by high volatility, influenced by supply and demand, geopolitical events, natural disasters, and OPEC decisions. Traders typically participate in the crude oil market via futures contracts.
- Indices: Stock market indices such as the S&P 500, Dow Jones Industrial Index, and Nikkei 225 represent the overall performance of a basket of stocks. Index trading usually occurs through derivatives like CFDs or futures contracts, serving as indicators of market health.
Account Opening Process
Visit www.properflygroup.com, click "OPEN REAL ACCOUNT" on the homepage or at the top right corner of the page to enter the account registration page. Fill in the required information, including name, phone number, email, login password, and upload both sides of an identity proof. Submit the application form, and the account will be successfully registered upon submission.
Trading Account Information
ProperFly Limited's website does not disclose information about spreads, trading leverage, account types, trading commissions, minimum/maximum trade sizes, maximum open positions/orders, margin call and stop-out levels, minimum price increments, or contract sizes related to trading accounts.
Trading Platform and Deposit/Withdrawal Methods
This broker claims to provide the MT5 trading platform, but upon checking the MT5 platform, the broker "ProperFly Limited" lists a different website (www.sohobi.com) rather than www.properflygroup.com. Furthermore, ProperFly Limited (www.properflygroup.com) does not clearly state the supported deposit/withdrawal methods, fees, or minimum deposit/withdrawal amounts on its website.
Conclusion
Traderknows advises investors that ProperFly Limited (www.properflygroup.com) is a scam broker website with non-transparent registration and regulatory information. Moreover, the website only offers a single contact method via email.
Traderknows recommends investors choose brokers with transparent information, strong regulation, and good reputations to conduct investment trading activities, to avoid unnecessary financial losses.
