ProFxPremium Review 2024

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What is ProFxPremium?

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ProFxPremium is an online trading broker that specializes in forex and CFDs. The company is owned and operated by Silver Wolf Limited & Black Parrot Limited. The company’s physical location is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960. The broker offers a variety of account types, all of which allegedly offer commission-free trading and high leverage levels. However, it’s important to note that ProFxPremium does not provide free demo accounts. ProFxPremium uses the MetaTrader5 (MT5) platform. This platform is popular among traders due to its in-depth analytical tools and support for Expert Advisors for automated trading. Despite these offerings, there are several concerns about ProFxPremium. The company operates offshore, and it has been flagged by several financial regulators, including Italy’s CONSOB, Netherlands’ AFM, and Poland’s KNF. User reviews on various social media platforms and online trading forums suggest dissatisfaction with their experience with ProFxPremium. Therefore, potential investors are advised to exercise extreme caution before investing through ProFxPremium. It is essential to conduct thorough due diligence on the companies and entities to which you are planning to send funds.

What is the Review Rating of ProFxPremium?

Forexbrokersinfo.com is regularly checking the ratings of ProFxPremium at forex broker review sites.
ProFxPremium has been reviewed and rated by:
    The Weighted Average Review Rating calculated by Forexbrokersinfo for ProFxPremium is 0.

    What are the Pros of ProFxPremium?

    ProFxPremium, a forex and CFD broker, offers several advantages that may appeal to traders:. MetaTrader5 (MT5) Platform: ProFxPremium uses the MetaTrader5 (MT5) platform. This platform is popular among traders due to its comprehensive features. It offers excellent charting capabilities, in-depth analytical tools, and supports Expert Advisors for automated trading. Seemingly Good Spreads: ProFxPremium offers a spread fixed at 2 pips on EUR/USD, which aligns with the industry average. High Leverage: The maximum leverage offered by ProFxPremium is high, reaching 1:400. This is in the upper range of what most brokers offer, providing traders with the potential for higher profits. Variety of Financial Instruments: ProFxPremium offers a wide range of financial instruments for trade. These include forex pairs, and CFDs on indices, commodities, stocks, as well as cryptocurrencies. Multiple Payment Methods: ProFxPremium supports payments made by bank wire, credit/debit cards, Neteller, WebMoney, PayPal, Skrill, and others. However, it’s important to note that ProFxPremium is operated by an offshore company, and there are concerns about its reputation. Therefore, traders should exercise caution and conduct thorough research before choosing a broker.

    What are the Cons of ProFxPremium?

    ProFxPremium, a Forex and CFD broker, has several disadvantages that potential investors should be aware of:. Offshore Registration: ProFxPremium is operated by Black Parrot Limited, a company registered in the Marshall Islands. Offshore brokers are generally avoided due to the lack of stringent regulation and oversight. Lack of Regulation: The company is not regulated by any financial authorities. This raises concerns about the safety of the investors’ funds. Negative Reputation: Black Parrot Limited, the company operating ProFxPremium, has been flagged by several financial regulators across Europe, including Italy’s CONSOB, Netherlands’ AFM, and Poland’s KNF. No Free Demo Accounts: Unlike many other brokers, ProFxPremium does not offer free demo accounts. This limits the ability of potential investors to test the platform and understand the trading conditions before investing real money. High Minimum Deposit: The minimum deposit to start trading is $500. , which is higher than many other brokers. This could be a barrier for new traders or those with limited capital. Website Inactivity: Recently, the ProFxPremium website has been inactive and unavailable. This raises concerns about the reliability and continuity of their services. It’s important for potential investors to conduct thorough research and consider these factors before deciding to invest with ProFxPremium.

    Is ProFxPremium Regulated and who are the Regulators?

    ProFxPremium is a Forex and CFDs broker that is owned and operated by Black Parrot Limited, based in Marshall Island. The IT & Finance administration services are done by Blonde Bear OU, based in Tallinn, Estonia. However, it is important to note that none of the mentioned companies is regulated by financial authorities. ProFxPremium is not regulated or authorized to operate by any major regulatory authority. This means that it will be a difficult process to withdraw from this company if they decide to ignore your request or suspend your account for trivial reasons. Furthermore, Black Parrot Limited, the company that operates ProFxPremium, has been banned by numerous regulators throughout Europe, including Italy’s CONSOB, Netherlands’ AFM, and Poland’s KNF. This further emphasizes the risk associated with trading through ProFxPremium. It is always advised for traders to choose from UK, Australian, or other well-regulated brokers, where their funds will be protected. For example, the license from the UK’s Financial Conduct Authority requires EUR 125,000 of capital for the STP license. In conclusion, ProFxPremium is an unregulated trading platform. Therefore, it is not safe to trade with ProFxPremium.