While the website looks exceptionally credible and it’s easy to find information, we discovered that ProsperityFX failed to get any valid financial regulation. And it tells a lot about the broker’s intentions and legitimacy.
Furthermore, the company doesn’t have many genuine client reviews, which is another red flag. Read our ProsperityFX review and find it all out!
| Broker status: | Offshore Broker |
| Regulated by: | Unlicensed brokerage |
| Scammers Websites: | prosperity4x.com |
| Blacklisted as a Scam by: | N/A |
| Owned by: | Prosperity Inc. LLC |
| Headquarters Country: | Saint Vincent and the Grenadines |
| Foundation year: | 2021 |
| Supported Platforms: | MT4 |
| Minimum Deposit: | $25 |
| Cryptocurrencies: | Available |
| Types of Assets: | Forex, commodities, indices, shares, cryptocurrencies |
| Maximum Leverage: | 1:400 |
| Free Demo Account: | Yes |
| Accepts US clients: | No |
Is Prosperity4x.com a Secure And Regulated Platform?
ProsperityFX is a brand of Prosperity Inc. LLC, registered in Saint Vincent and the Grenadines. This offshore island has no financial regulator. The FSA declared itself a register of investment firms and directed all Forex and binary options brokers to opt for a license in the country of service. Upon checking several Tier1 registers, including the UK FCA, Australian ASIC, and German BaFin, we determined that you’re dealing with an unlicensed firm.
How Unsafe Is An Unlicensed Broker?
Unlicensed brokers have no money-back guarantee. Unlike Tier1 registered firms with significant compensation funds of over 700,000 EUR to reimburse potential victims, such a possibility doesn’t exist with unregulated offshore schemes. Despite how good the offer may sound, ProsperityFX is unregulated and unsafe.
Also, we recommend you not to invest in the fraudulent brokersBuxberg,Aurora CoinsandAxisCapital.
Is ProsperityFX a Legitimate Broker Or A Fraud?
ProsperityFX is not a legitimate Forex and CFD trading provider. The company is based in Saint Vincent and the Grenadines and doesn’t have a valid financial regulation. Reviews posted on Trustpilot are fake.
Traders Reviews About ProsperityFX
Checking Trustpilot, you would conclude that ProsperityFX is a way to prosper and succeed in the financial market. Sadly, this is just an appearance. If you check carefully, you will notice that all the reviews were written on the same day, the 22nd of October 2021, and ever since, there hasn’t been a single post. New brokers usually post false reviews to gain more customers, but it doesn’t mean you need to trust them.
ProsperityFX Offers MetaTrader 4 – But Is This Really the Case?
We will be honest that, unlike many scammers, ProsperityFX offers access to the real MetaTrader4.
MT4 Platform Is Available For Desktop and Mobile
The platform is available in the web version, as well as an app for mobile and desktop devices. MT4 is one of the best software this industry has to offer. Usually, a fact you can trade on this platform would be terrific. However, scam brokers create their own trading conditions. And ProsperityFX is no different. You can’t win if both the broker and the market are against you.
All About Prosperity4x.com Accounts
The company offers 4 regular Live account types and an Islamic swap-free account.
The main difference is the number of available trading pairs, spread, and commission.
Does The Broker Offer A Demo Account?
Another perk of ProsperityFX is a Demo account. Clients can test the platform for free and with no risks. Note that the real issue will start once you make the initial deposit and you need to get a payout.
Prosperity4x.com PAMM Account – How Does PAMM Function?
PAMM stands for Percentage Allocation Money Management. Basically, many investors are contributing to an investment pool where an expert trader or a designated account manager allocates these funds into trades. If profitable, each customer gets a percentage per their investment, while all the participants pay a commission to the account manager. This is not a bad type of investment, but when your money is managed by a financial adviser with no license, it’s hazardous.
ProsperityFX Broker – Countries Of Service
The broker mainly operates in:
- UK
- Canada
- South Africa
ProsperityFX Range of Trading Instruments & Markets
According to its website, ProsperityFX offers trading in:
- Currency pairs – EUR/USD, GBP/USD
- Commodities – gold, oil, silver
- Indices – NASDAQ, FTSE100
- Cryptocurrencies – BTC, ETH, XRP
- Shares – Amazon, Apple, Google
Also remember the names of theGlobalPairs,UnicoFXandChase Capital Onlinetrading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!
Prosperity4x.com Bonuses For Referring Traders – As A Method Of Fraud
ProsperityFX offers different levels of a bonus structure for the company’s affiliates. You can either recruit other affiliates or bring customers directly; depending on the level, you’re entitled to $0.05 to $3 per person. However, many scam brokers that offer bonuses and other incentives have malicious Bonus Policies. ProsperityFX has none, nor is this matter discussed in the Terms and Conditions. This means that your withdrawals are subject to the account manager’s personal decision on whether or not they will approve your request or ask you to reach any rollover and repay the bonus first.
Customer Support – Communication Channels
The broker’s support uses different communication channels to get ahold of customers. Registered users may expect phone calls, emails, and WhatsApp messages. On the other hand, the firm aggressively advertises and affiliates are looking for customers on Facebook, Instagram, and other social media. If you see the name ProsperityFX, know that you are being lured into a scam.
Minimum Investment Amount
This firm requires an initial deposit of $25. While it’s a relatively small amount, it’s not worth the risk. Any broker without a license has one goal – to bring more clients, run a Ponzi and disappear when the time comes. Don’t wait for it to happen. Report the scheme right away and recover your funds before it’s too late.
ProsperityFX Trading Conditions
As mentioned, unregulated firms create their own trading conditions.
About Leverage And Spreads
The leverage is unregulated and goes up to 1:500. For instance, the limit in the EU and UK is 1:30, while in Australia, it’s 1:50. The spread is quite solid, starting at 1.2 pips, but the commission goes up to $8 per lot, which is rather high.
ProsperityFX Deposit, Withdrawal Methods, And Fees
The only payment method this firm accepts is Bitcoin. And that right there is the biggest red flag of all. While regulated brokers allow deposits via credit cards, PayPal, Skrill, and other payment methods with a guaranteed refund period, ProsperityFX wants to get ahold of your funds and has no obligation to return them. Furthermore, any commissions are not disclosed.
Don’t invest using crypto unless you’re absolutely sure you won’t be scammed. Recovering your funds later can be quite a challenge.
Scammed by Prosperity4x.com Broker? – Let Us Hear Your Story
ProsperityFX is a scheme broker, and getting defrauded is easy. If you find yourself a victim of this bogus investment firm, let us know. Our chargeback specialists may help you recover your funds.
While cryptocurrencies are not subject to chargebacks, credit card transactions are. If you have purchased crypto using your card, there’s still a way to get the money back. Nowadays, there are tools enabling decrypting crypto transactions and tracking wallets. For more details, contact us via online chat and book a free consultation with our specialists. Do it now.