Broker Name: Protradespot
Broker Type: Forex & CFDs
Operating since year:
Address: Address:12 Endeavour Square, London E20 1JN
Broker status: Active
Email: [email protected]
Languages: English, more
The Trading platforms: Proprietary
Trading platform Time zone: /
Demo account: No
Mobile trading: Yes
Web-based trading: Yes
Other trading instruments: Yes
• General Information & First Impressions
• Fund and Account Security
• Registration at protradespot.com
• Account info
• Protradespot’s Trading Platform
Protradespot Review – Leading Forex & CFD Broker
General Information & First Impressions
Protradespot is a forex and CFDs broker that offers a broad range of trading services and products online. It has attracted a good bit of attention and has already gathered over 30,000 users. Our Protradespot review will let you know more about the broker and help you decide whether it’s the right choice for you.
As we already said, the broker operates via CFDs. That may present issues to some traders tha have been fed false information regarding CFD trading. Namely, some newer traders believe that CFDs are a a scam altogether.
That’s a silly notion, as CFD trading has been around for quite a bit. It is true that scam brokers like to pose as CFD companies, but that’s because it makes them more attractive to users. If you manage to find a real CFD trading service, it offers much more versatility, quicker execution, and overall more comfort.
We’ll go over the broker’s security soon in our protradespot.com review, but let’s look at other important details. For starters, it’s important to note that Protradespot is available worldwide. Of course, that doesn’t apply to countries that can’t form legal contracts regarding trading with the company. However, most people worldwide won’t have any issues joining and trading with the broker.
We also need to mention that the broker operates from London, which will be important soon.
Protradespot strives to be an open and efficient company, with a lot of features to back that up. That also goes for its website, which puts usability first, and lets traders learn about the broker quickly. Altogether, the initial experience is fantastic and sets a great tone for the rest of our Protradespot review.
Fund and Account Security
Safety comes before anything else when choosing a place to trade online. Scammers have mostly migrated to crypto, but traditional brokers are far from safe. Every day, you can find new accounts of users getting scammed out of their hard-earned funds.
But the question is, how do you avoid getting scammed by a broker online? The answer is simple; don’t join a scam brokerage.
Of course, a simple answer doesn’t mean a simple solution. Informing yourself about a broker can be a strenuous process. And even if you’re prepared to do that, it also requires former knowledge.
That’s where another issue shows itself; learning how to spot scam brokers isn’t a straightforward process. Online, you can find many guides on how to spot some of the most obvious warning signs. And that will do you good to avoid the most apparent fraudsters, but most scammers are more sly than that.
Finding the nuanced warning signs requires experience, and you can seldom get that without trial and error. However, we’ve been looking at brokers for a long time and have devoted this part of our protradespot.com review to investigating its security.
The first big relieving factor about the broker is that it operates from London. That’s because the UK is a high-regulation area for financial companies, and scammers tend to avoid it. The reasoning is simple since the regulation is stricter, they are more likely to get caught and punished.
Furthermore, as we already stated, the broker has gathered quite a loyal following. We’ve scoured through multiple trust and quality review sites, and the sentiment is overwhelmingly positive. That verifies our impression of Protradespot as safe since users would be the first to complain otherwise.
As such, we’re confident in saying that you won’t face any major security issues with Protradespot.
Registration at protradespot.com
The number one safety tip online is to never give out information you don’t need to. If someone steals your data, the more they know about you, the more harm you can do. Now, this may be confusing following a section of our protradespot.com review where we called the broker secure. However, tons of things can happen that are out of the broker’s hands that lead to your data ending up where it shouldn’t.
However, a lot of brokers seem not to care and ask for a ton of information upfront. That creates discomfort for traders since you don’t want to hand over personal data to a company you don’t yet fully trust. And beyond that, it’s also dangerous, as we already explained.
The solution is that brokers should only ask for what’s immediately necessary for the service to work. In other words, they need to know about their users’ risk profiles to provide an appropriate service. However, brokers often go overboard there, creating unnecessary danger and frustration on the user end.
We’re glad to report that Protradespot didn’t make that same mistake and instead only requests what it needs. To get started, you’ll only need to jot down your name and location, as well as confirm you’re of legal age. That will get you an account that you can use to explore the broker’s service.
Of course, to start trading, you’ll need a live account. And in the next part of our Protradespot review, we’ll explain how you can get one.
A broker’s accounts usually serve the purpose of making sure its service is fair to everyone who joins. They’re necessary because different groups of traders expect different things from the service. Depending on how much they deposit, certain traders may expect to get a better service.
So to accommodate them, the broker separates its users into different account types. The lower account types are competitive and unlock the base service but don’t contain luxury features. The higher ones go all out and have a positive effect on comfort and the general quality of the service.
The broker needs to split them since it wouldn’t be financially viable to give everything to everyone. Some of the features are costly on the broker’s end, and everyone having them would eliminate any earnings for the company.
However, some brokers go too far and make the lower accounts borderline unusable. That way, it forces users to upgrade if they want a better service. Going about it that way is borderline predatory and common behavior from scam brokers.
Luckily, as we said earlier in our protradespot.com review, it avoids all common brokerage mistakes. The accounts are fair and enhance the service of all users, pushing performance to a reasonable maximum. We suggest picking whatever category you’re comfortable with financially, and then upgrading as you progress.
Protradespot’s Trading Platform
Protradespot’s trading platform follows the rest of the service quality-wise. It’s simple to use while maintaining a high degree of power and potency. Once you master the trading platform, you’ll see a significant increase in your earnings, which is something all traders strive towards.
The formula is fairly simple, and it starts with a UI that’s simple to use. That way, traders that are trading for the first time and those transferring from other brokers can acclimate quickly. That cuts down on the frustrating process of relearning everything when you join a new broker.
And building on that, the platform helps you develop, and becomes more powerful as you do. As we already said in our Protradespot review, it’s quite a potent tool, offering different execution options and time frames. However, perhaps the most important detail comes from the analytical features.
There are numerous chart and graph types you can use, along with other indicators that help you navigate markets. The platform rounds off the service nicely and ensures us that protradespot.com thought of everything.
The broker shows a great blend of interesting features and qualities that shape up to form a fantastic service. It offers traders numerous advantages over other companies, such as more asset versatility and lower pricing. Technology-wise, Protradespot also does great, with an accessible platform and streamlined website.
All that results in a service that’s both efficient and comfortable. Few brokers offer that mix, as companies usually aren’t that devoted to figuring out how their customers actually use their service. Because of that, there’s no other way to end our Protradespot review than to recommend you try the service out.