Is PRTrend A Scam?

Also PRTrend is regulated by Cyprus Securities and Exchange Commission . PRTrend have a D grade support rating because because sometimes the response was slow or our query wasnt answered. PRTrend less customer support features compared to other brokers like live chat, phone and email support.

Having a reliable and capable broker is crucial to your success in online trading. Make sure that your broker is not fake or unreliable to avoid losing your investment. Ensure that your needs fit the profile of your broker as well, in order for you to have a good working profitable relationship. In June 2015 PRTrend launched the trading platform Libertex. On 4 February 2020 PRTrend signed an association agreement with the authorized forex broker „Alfa-Forex“, this agreement allowed PRTrend to return to work with the citizens of the Russian Federation. In terms of their education centre, they have a video program for those who are beginning out with trading. There are no webinars or seminars that regularly take place however and more experienced traders do not have any content that will help them to upskill.

CFD and Commodity Trading are available while the MT4 account offers 50 Forex Currencies. The minimum deposit required is just $200 and US traders are welcomed. Overall PRTrend is a fair Forex Broker offering many trading options. Take even a cursory glance at PRTrend’s website, and you’ll understand why this trading strategy Forex broker is one of the most popular brokers not just for US traders, but for Forex traders in 120 countries worldwide. In addition to having an intuitive website and multiple user-friendly trading platforms, PRTrend, which is also known as PRTrend, is registered with the CTFC and is a member of the NFA.

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These services include trading in shares, forex, indices, CFDs, and other financial instruments. Once your PRTrend registration is complete, you’ll be able to begin trading immediately. The easiest way to begin is to download the trading platform of your choice, which requires little more than approving the action when prompted to do so. We were especially impressed with the ExpressFX platform which makes trading pleasurable and understandable for first trader time users. While this elongated process should be considered annoying, we found it rather comforting, as the platform eliminates uncertainty for those who are unfamiliar with the trading process. After viewing PRTrend’s neat homepage, we weren’t surprised to find that both registering for and using PRTrend’s services were extremely easy. Registering for the free demo accounts is a simple, one-step process, and practice trading can begin instantly.

This includes Russia, Cyprus , and Belarus as well as in St. Vincent and the Grenadines. Market research section for Dow Jones News updates, auto chartist updates, economic calendar and market outlook analysis and live trading charts. Review details of the license, registration and regulation of this FX broker can be found on the brokers website. At the end of September I had 50% of gain in my account (despite they ripped me out once at the end of July by not respecting the 50% of margin requirement by the market authorities). Stay up to date with the financial markets everywhere you go. One thing that PRTrend has done is to provide a solid educational platform that can enable traders to hit the ground running.

An Introduction To Trading Forex Futures

In addition to local regulations, PRTrend’s operations are regulated by the Central Bank of Russia . Which is responsible for regulating all financial operations in Russia. Despite this, international operators are still able to target Russian players and open accounts without any oversight or regulation by the Russian authorities. As a result, many prtrend website traders in the country use non-Russian trading brokers and platforms. PRTrend is geared towards beginners who are new to online currency trading. Therefore, PRTrend offers educational resources to help beginners gain a better understanding of the trading process. These include step-by-step guides, free web-based seminars and live chat sessions.

According to the statistics, 75-89% of customers lose the funds invested and only 11-25% of traders earn a profit. It was built with HTML5 which lends itself to a very smooth interface that is extremely responsive. Charting is very easy to do with this platform, but they do not have too many additional tools and features that a lot of more experienced traders may prefer. You can open a free demo account with PRTrend to learn how PRTrend works as well as gain an understanding of trading.

PRTrend allows traders to trade on mobile devices through Android and IOS devices like the iPhone. Lets explore each of these trading platforms in detail and what options PRTrend gives you. A brokerage may make most of their revenue from charging registered traders a commission fee on client transactions. Brokers that offer lower minimum deposits are generally geared towards a more mainstream audience that do not require some of the more advanced features and research tools.

PRTrend Review 2021

That said, what you lose in complexity, such as spreads, you get back through commission. Most experienced traders prefer the ClassicFX platform however, and many make the switch to this platform when they first open a live PRTrend account.

• The also look at content from 3rdparties to help come up with their conclusions.
• OFXT is here to help you in your path to becoming a forex trader or broker.
• PRTrend MetaTrader 4 is compatible with the latest macOS Mojave.
• PRTrend is regulated by Cyprus Securities and Exchange Commission .
• I did not notice any special differences from other companies.
• This chart also shows the trade sizes as well as leverage for each currency pair.

It operates mostly in former Soviet countries that are now members of the Commonwealth of Independent States . PRTrend’s various prtrend scammers subsidiaries are regulated by authorities in a number of countries, including many CIS countries but others as well.

Is PRTrend A Con?

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Obviously, the problem is that there was a profit on the account. Realizing this, I requested a refund of the deposit, without profit. PRTrend sent back my initial deposit but still not withdraw my funds. Let other traders know if this service is worth checking or should be avoided.

PRTrend Review

You’ll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it’s best to put aside at least 3 minutes or so to complete the account opening process. Commission fees can differ depending on the trading type, financial asset type and what level of trading account you have. Depending on the type of account you have signed up for you can only be charged an inactivity fee under certain circumstances. As part of a brokers regulation they are required to clearly disclose any inactivity fees. We have checked and PRTrend is regulated and supervised by reputable organisations. You are able to check every PRTrend supervisory and regulatory body given below.

When it comes to lines of communication, PRTrend-Global have a few of them. There is an instant chat option, which we always appreciate, as there is nothing better than getting an instant answer. There are also a few telephone numbers, depending on your query, and a general email address.

Accounts can lose money due to either not putting enough effort into researching the markets, lack of experience or not using the tools provided by the brokerage platform. All the services on the Tradersunion.com website are free for you to use. Our team spends thousands of hours per annum researching brokers and gathering information about them to help investors all over the world to choose reliable companies and to avoid fraudsters. Indeed, the curating, sourcing, and organization of this process requires substantial financial investment by Tradersunion.com, which the website earns in the form of advertising payments. There are two types of advertising services on the website — direct advertising or partner participation programs. However, no services purchased by our partners shall affect the recommendations on our website, or our opinions, or ratings.

You can do all of this without risking any of your own money as the trades you place are dummy trades using dummy account balances. Below is a list of the most common review questions that traders ask about this online forex broker. PRTrend also offers the same great support for the popular and powerful MetaTrader4 platform you’ve come to expect from forex trading brokers. It is the ActTrader platform, however, Currencies forex that PRTrend touts as its tour de force. PRTrend is regulated by Cyprus Securities and Exchange Commission . One of the most important criteria for traders when choosing a broker like PRTrend is the regulatory body and regulatory status of the broker. Brokers who conduct business without regulation do so at their own discretion and pose a direct risk to the security of their clients money.

In 2010, the PRTrend acquired Akmos Trade, the oldest Russian broker. The PRTrend is one of the oldest Forex brokers in the world. Founded in 1997, for 19 years of its existence, the company has evolved into an international Forex corporation, working with clients from over 130 countries worldwide. PRTrend is a good choice for those who are new to Forex trading and want a comfortable and relatively risk-free starting point. Since the online Forex trader is geared towards beginners, those who have plenty of experience may end up satisfied elsewhere, but PRTrend does its best to accommodate both new and veteran traders.

This is if your broker accepts funding your account via a credit card. Brokers that require a larger minimum deposit amount usually offer a greater range of trading features on their platforms. These brokers often have more in depth technical analysis and research tools and better risk management features. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.