Prospero Markets Review 2023 | Can You Trust Prospero Markets?

Key TakeawaysCompany History & OverviewTrading PlatformGetting StartedPlacing An OrderMarkets & InstrumentsProspero Markets FeesStandard AccountVIP AccountSwapsLeveragePayment MethodsHow To Make A DepositWithdrawalsMobile AppAccount TypesStandard AccountVIP AccountHow To Register For A Real AccountDemo AccountBonuses & PromosProspero Markets RegulationAdditional ToolsCustomer SupportOpening HoursSecurity & SafetyProspero Markets VerdictAccepted CountriesCompare Prospero MarketsProspero Markets Comparison TableCompare Trading InstrumentsProspero Markets vs Other BrokersFAQIs Prospero Markets A Safe Broker?Does Prospero Markets Offer High Leverage?Is Prospero Markets Legit?Does Prospero Markets Offer A Demo Account?Does Prospero Markets Offer Reliable Customer Support?

Prospero Markets LLC is a popular broker that offers a variety of financial instruments. The firm provides a secure and user-friendly platform for individual investors and institutions to trade in forex, commodities, stocks, and indices. This review of Prospero Markets will share insights into the background of the company, as well as fees, leverage, sign-up details, plus platform and app ratings.

Key Takeaways

Prospero Markets is a trustworthy brand regulated by the ASIC
The MT4 platform and app are available to account holders
Trading on the volatility index (VIX) is offered
The $500 minimum deposit is relatively high

Company History & Overview

Founded in 2012, Prospero Markets is a financial services firm with headquarters in Melbourne, Australia, and offices in Sydney. The brokerage is regulated by the Australian Securities and Investments Commission (ASIC) and holds an Australian Financial Services Licence (AFSL) licence.

The brand provides traders in Australia with over 300 assets on the MT4 platform and app. Prospero Markets is also a reliable broker for traders worldwide via their two websites ( and, though access is prohibited in Japan, North Korea, and the United States.

Trading Platform

Prospero Markets uses MetaTrader 4. Traders can download MT4 on their desktop devices or use the web trader.

MT4 is the world’s most popular retail investing platform for forex trading. It is renowned for its Expert Advisor (EA) building service, which allows traders to make their own trading robots and indicators. MT4 also offers:

One-click trading
Market, stop, and limit orders
Charts across 9 time frames (M1, M5, M15, M30, H1, H4, D, W1, Mn)
24 analytical objects such as Fibonacci and 30+ pre-downloaded indicators including Bollinger bands

Getting Started

When you download/open the platform, there are three windows:

The widget on the left is the ‘Market Watch’ window which allows traders to track popular assets
The widget along the bottom is the ‘Terminal’ which can be used for various functions including keeping track of open trades
The widget on the right can be used to view charts of your chosen asset

Placing An Order

To place an order with MT4, press the ‘New Order’ option in the toolbar at the top of the screen. A window will then pop up. Input the asset symbol, the trading volume (in lots), any stop loss or take order adjustments, any comments, and decide whether you will buy or sell. You will also need to decide between ‘Pending Order’ or ‘Market Execution’.

Markets & Instruments

Prospero Markets provides access to a good selection of instruments, including forex, precious metals, energies, stock indices, and equity CFDs. There is also access to the VIX (Chicago Board Options Exchange’s CBOE Volatility Index), which provides additional trading opportunities.

On the downside, there are only stock trading opportunities on companies from the US and Australia. Also, cryptocurrency is not offered.

Popular instruments:

38 forex pairs including AUD/CAD, EUR/GBP, USD/JPY, and AUD/USD
11 stock indices including UK100, USTEC, HK50, and DE30
13 commodities and metals including silver, gold, natural gas, copper, crude oil, corn, and wheat
58 futures including VIX01-VIX12, WTI01-WTI12 and UKO01-UKO12
95 US share CFDs including Apple Inc, Coca-Cola Company, Tesla Inc, and Pfizer
114 ASX share CFDs including Computershare Limited, Auckland International Airport Limited, Seek Limited, and Woolworths Group

Prospero Markets Fees

Prospero Markets offers competitive fees, particularly with its VIP trading accounts.

Standard Account

For standard accounts, floating tight spreads from 0.9 pips apply. There is no commission when trading forex, metals, indices, oil, and futures CFDs. For US share CFDs, traders must pay a commission of A$0.35 per share, and for Australian share CFDs, the commission is 0.07% per side.

VIP Account

With the VIP accounts, spreads start from 0.0 pips and competitive commissions apply on most assets:

Forex: 3 AUD or 2 USD per standard lot per side
Metals: 3 AUD or 2 USD per standard lot per side
Oil: 3 AUD or 2 USD per standard lot per side
US share CFDs: A$0.35 per share
AU share CFDs: A$0.35 per share

There are no commissions for index or futures trading on VIP accounts.


Swap fees apply with both account types but are not fixed and depend on the asset and the size of the position. For example, swap fees for holding overnight forex positions are based on the tomorrow-to-next-day rate, with a fixed markup in the market for the specific currency pair.

Note, you can view swap fees on the MT4 platform.


The highest leverage Prospero Markets offers to Aussie retail traders is 1:30, in line with ASIC regulations.

For global traders, the maximum rate is 1:400 (on most forex pairs and gold spot trading). Leverage on precious metals ranges from 1:50 to 1:100. For oil it’s 1:100, for copper it’s 1:50, and for all other commodities it’s 1:20. Stocks have a maximum leverage of 1:100.

Payment Methods

While using Prospero Markets, our experts found various payment methods available:

Electronic Fund Transfer: This includes PayPal, Skrill and POLi. Deposits are free of charge but traders will need to provide proof of the transaction (via receipt or screenshot) to It can take up to two business days for the payment to be made.
BPAY: Deposits via BPAY also require proof of payment sent to the same email address. Payments are free and can take up to two business days. The biller and reference numbers required to complete the transaction can be found in the customer portal under My Prospero > Payments.
Credit or Debit card: This is free of charge and can take up to two hours to complete.

Note, traders signed up with the global entity can only use UnionPay, Tether, and Swift.

How To Make A Deposit

Traders will need to navigate the client portal, then ‘Wallet’, and select the option to add funds. You can then choose one of the deposit methods listed above, as well as the amount.

You will be taken to the appropriate web page, where you can enter the required payment details, such as card information or bank reference numbers. Once this is done, click ‘Next’ to complete the payment.


Withdrawal requests can be made via the same payment channels. However, requests can take up to five business days which is longer than many alternatives.

Fortunately, withdrawals are free of charge except for PayPal which has a 3% fee.

Mobile App

The broker does not offer a proprietary mobile trading app. However, the MetaTrader application provides all the features and functions of the desktop terminal, with smaller screen compatibility for smartphone and tablet devices. This also includes full account control, access to all order types, historical trade information, three chart types, and interactive symbols.

The MT4 mobile app can be downloaded to Android devices only.

Account Types

There are two live account options at Prospero Markets; Standard and VIP.

Standard Account

Forex: Minimum spreads are 0.9 pips and the maximum leverage is 1:30
Metal: Spreads are floating and maximum leverage is 1:20
Oil: Minimum spread for Brent Crude Oil is 2.3 pips and for WTI Oil it’s 2.4 pips. The maximum leverage is 1:10
Index and futures: Spreads are floating and the maximum leverage is 1:20
Share CFDs: Spreads are floating and the maximum leverage is 1:5

Standard accounts also come with a 1-1 account manager, daily and weekly market analysis, and a minimum deposit of 500 AUD. It is worth pointing out that this is a fairly high minimum deposit which may put off some beginners.

VIP Account

Forex: Minimum spreads are 0.0 pips and the maximum leverage is 1:30
Metal: Spreads start at 1.4 pips for Gold and 1 pip for Silver. The maximum leverage is 1:20
Oil: Minimum spread for Brent Crude Oil is 0.8 pips and for WTI Oil it’s 0.9 pips. The maximum leverage is 1:10
Index and futures: Spreads are floating and the maximum leverage is 1:20
Share CFDs: Spreads are floating and the maximum leverage is 1:5

VIP accounts come with the same services, however, with VIP profiles the account managers are more involved. Traders also get VIP weekly recaps of the market and dedicated seminars.

The minimum deposit for VIP accounts is 20,000 AUD. This makes it a better fit for advanced investors and active day traders.

Note, USD is the only base currency available at Prospero Global.

How To Register For A Real Account

To register for a live account at Prospero Markets, traders will need to provide their full name, phone number, and email address. You will then be prompted to provide KYC verification, such as a passport for ID, and a bank statement issued within the last 90 days as proof of address.

After this information is provided, your application status will be emailed to you within 24 hours, so you can make a deposit and start trading online.

Demo Account

Opening a demo account with Prospero markets is simple. Enter your full name, phone number, and email address. You will then be prompted to choose the details of your paper trading account. Following this, you will be given login details to an MT4 demo account.

Demo accounts are a great way for traders to get comfortable with the broker and platform before committing their own funds. Clients can then upgrade to a live trading account.

Note, the paper trading account will expire after 30 days.

Bonuses & Promos

In line with regulations introduced by the ASIC in March 2021, Prospero Markets does not offer promotions and financial incentives. This is due to bonuses sometimes encouraging traders to take on too much risk.

Alternatively, Prospero Markets offers a range of educational tools to promote safe and successful trading. These are outlined in more detail below.

Prospero Markets Regulation

Prospero Markets is regulated by the Australian Securities & Investments Commission (ASIC), with license number 423034. For international investors, Prospero Global is regulated by St Vincent & Grenadines Financial Services Authority (SVGFSA), with registration number 533LLC2020.

Importantly, the SVGFSA does not actively regulate trading brokers, meaning entry rules and operating conditions are relaxed. The result is fewer legal protections for retail traders. For example, the maximum leverage with the global entity is much higher at 1:400.

Nonetheless, both the Australian entity and the global broker segregate client funds and offer negative balance protection.

Additional Tools

The Prospero Markets website offers a variety of educational resources. This includes an economic calendar which you can filter based on the most important economic events. There are also live updates on financial news.

You can find seminars catered to different levels of trading experience, from introductory to advanced. Enrolling is free, you just need to input your name and email. Popular examples of classes include Introduction to Forex Trading: Investment Essentials, and Investment Priorities in Practice.

There are also links to financial blogs to broaden traders’ understanding of the financial markets. Good options for beginners are What is Forex? and Explore The Charm Of Trading.

Customer Support

Prospero Markets has a good customer support team with knowledgeable staff. Customer service is available 24 hours a day 5 days a week, via live chat and email. There is also a form that can be filled out on the website and sent directly to the customer service email. Prospero Markets is also on WeChat (prospero_markets_au or prospero_markets).

Telephone – 1300 768 888
Email –
Office Address – Suite 502, 1 Castlereagh St, Sydney, NSW 2000

Opening Hours

Forex – Sunday between 21:00 and 21:15 GMT to Friday between 20:55 and 21:00 GMT
Commodities, Indices and Futures – It depends on the location of the market. For example, for the F40 (France), trading hours are Monday – Friday 09:00 – 23:00 GMT, and for the HK50 it’s Monday – Friday 03:15 – 06:00, 07:00 – 10:30, and 11:15 – 21:00 GMT
ASX Shares – Monday – Friday: 01:00 – 07:00
US Shares – Monday – Friday: 16:30 – 23:00

Security & Safety

Prospero Markets is a safe broker-dealer brand with strict data privacy rules. For any disputes or complaints, customers can use the AFCA external dispute resolution scheme.

The MetaTrader 4 terminal is also secure. All personal information is transmitted between trading accounts and the platform interface with top-tier encryption and RSA digital signatures.

Prospero Markets Verdict

Prospero Markets is a reputable financial broker that offers access to popular markets on the MetaTrader 4 platform. Its global counterpart offers similar products and tools with higher leverage up to 1:400. Users also benefit from tight spreads and competitive commissions, especially with VIP trading accounts. On the downside, the $500 minimum deposit is higher than most competitors. There is also no copy trading.

Accepted Countries

Prospero Markets accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Traders can not use Prospero Markets from United States, Japan, Korea.

Compare Prospero Markets

Compare Prospero Markets with similar brokers that accept traders from your location. Among available brokers these are the most similar to Prospero Markets:

Infinox – Infinox is a UK-based broker with hundreds of instruments, copy trading and oversight from multiple regulators.

Ingot Brokers – Ingot Brokers is a regulated brokerage with 1000+ instruments, copy trading, and multiple account options.

VT Markets – VT Markets is a multi-asset broker with ultra-fast trade executions, spreads from 0.0 pips, 24/5 support, and user-friendly trading platforms.

FP Markets – FP Markets is a multi-asset broker offering a choice of trading platforms.

Prospero Markets Comparison Table

Compare Prospero Markets With Similar Brokers

Prospero Markets
Ingot Brokers
VT Markets
FP Markets



Demo Account

Minimum Deposit

Minimum Trade






Payment Methods



3 3.4 3.8 4
CFDs, Forex, Metals, Energies, Stocks, Indices, VIX Forex, CFDs, Indices, Shares, Commodities, Futures CFDs, Commodities, Stocks, Indices, ETFs, Forex, Cryptocurrencies CFDs, Forex, Commodities, Stocks, Indices Forex, CFDs, indices, shares, commodities, cryptocurrencies, bonds, ETFs
Yes Yes Yes Yes Yes
A$500 £1 $10 $200 $100
0.01 Lots 0.01 lots 0.01 Lots 0.01 lots 0.01 lots
50% Welcome Bonus
No No No Yes Yes
MT4 MT4, MT5 MT4, MT5 MT4, MT5 MT4, MT5
1:30 (Australia), 1:400 (Global) 1:30 (UK), 1:200 (Global) 1:500 1:500 1:500 (Global), (1:30 UK)
8 14 11 10 15
Prospero Markets
Ingot Brokers
VT Markets
FP Markets

Compare Trading Instruments

Compare the markets and instruments offered by Prospero Markets and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

Compare Prospero Markets Trading Instruments

Prospero Markets
Ingot Brokers
VT Markets
FP Markets

















Volatility Index

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Yes Yes Yes Yes Yes
Yes Yes Yes Yes Yes
Yes Yes Yes Yes Yes
Yes Yes Yes Yes Yes
Yes Yes Yes Yes Yes
Yes Yes No Yes Yes
Yes Yes Yes Yes Yes
Yes No Yes No Yes
No No Yes No Yes
Yes Yes Yes No Yes
No Yes No No No
No No Yes Yes Yes
No Yes No Yes Yes
No No No No No
No No No No No
Yes Yes Yes Yes Yes

Prospero Markets vs Other Brokers

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Is Prospero Markets A Safe Broker?

Prospero Markets is a secure online broker. The company holds a license from the Australian Securities & Investments Commission, provides negative balance protection, and segregates client funds at the Commonwealth Bank of Australia. The brand also has many positive reviews from other traders.

Does Prospero Markets Offer High Leverage?

The global entity offers high leverage up to 1:400. However, the Australian entity caps leverage to 1:30 in line with local regulatory restrictions. Note, trading with leverage up to 1:400 will increase your risk exposure so make sure you have a suitable money management system.

Is Prospero Markets Legit?

Yes, Prospero Markets is a legitimate brokerage offering 300+ instruments on the MetaTrader 4 terminal. The company is also registered with the ASIC, a top-tier global regulator with stringent rules for trading firms to comply with.

Does Prospero Markets Offer A Demo Account?

Yes, Prospero Markets offers a free 30-day demo account on the MT4 terminal. The paper trading profile offers risk-free trading with virtual funds and flexible leverage. Traders can sign up via the broker’s website in less than two minutes.

Does Prospero Markets Offer Reliable Customer Support?

Yes, Prospero Markets offers 24/5 customer support for all registered users. This includes a live chat service, telephone, and email. Additionally, there is an online inquiry form and an adequate FAQ section available on the broker’s official website.

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