Note: Proindex-forex is to operate via the website - https://proindex-forex.com/, which is currently not yet functional and no information about the company was immediately available. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
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 contained in this article is for general information purposes only.
General Information & Regulation
Proindex-forex is allegedly a forex broker registered in the United Kingdom that claims to provide its clients with leverage up to 1:500 and floating spreads from 0.6 pips on the web-based trading platform via four different live account types.
As for regulation, it has been verified that Proindex-forex currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.20/10. Please be aware of the risk.
Market Instruments
Proindex-forex advertises that it mainly offers forex and binary options trading. However, more specific information about tradable assets cannot be found on the Internet.
Account Types
Proindex-forex claims to offer four types of trading accounts - Basic, Classic, Standard and Premium, with minimum initial deposit requirements of $500, $1,500, $5,000 and $10,000 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less.
Leverage
The maximum leverage provided by Proindex-forex is capped at 1:500. However, according to the regulations, British and Australian brokers have to limit their clients to 1:30, while US brokers cant provide more than 1:50. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Spreads
All spreads with Proindex-forex are a floating type and scaled with the accounts offered. For example, the spread starts from 1.9 pips on the Basic account, from 1.5 pips on the Classic account, from 1.2 pips on the Standard account and 0.6 pips on the Premium account.
Trading Platform Available
Instead of the world's most advanced and popularly-used MT4 and MT5 platforms, Proindex-forex claims to offer a web-based trading platform. Anyway, you had better choose brokers who offer the leading MT4 and MT5, which are highly praised by traders and brokers alike due to their ease of use and great functionality, offering top-notch charting and flexible customization options. They are especially popular for their automated trading bots, a.k.a. Expert Advisors.
Deposit & Withdrawal
Proindex-forex claims to offer a variety of payment methods including credit/debit cards, Neteller, Skrill, PayPal, WebMoney, GiroPay, Bitcoin as well as bank transfer. Without access to a platform, however, we cannot confirm that information. The minimum initial deposit requirement is said to be $500.
Fees
Proindex-forex imposes a huge inactivity fee – $99.90 after 3 months of inactivity.
Customer Support
Proindex-forex‘s customer support can be reached by email: support@proindex-forex.com. Company address: 3 Temasek Ave, Office 7 35-37 Ludgate Hill London; 400 Broome St, New York, NY 10013, United States; Case Postale 236 Avenue de la Gare 39 1001 Lausanne; 18/9 Castlereagh St Sydney NSW 2000 Australia. However, this broker doesn’t disclose other more direct contact information like telephone numbers that most transparent brokers offer.
Pros & Cons
Frequently Asked Questions (FAQs)
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