Prosperous Review – 5 things you should know about prospertech.online

Beware! Prosperous is an offshore broker! Your investment may be at risk.

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Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

Prosperous is an obvious scam you should not even consider investing with. This is an anonymous website that provides barely any information about trading conditions, and about the broker itself. Moreover, they make false claims about offering a leading trading platform.

There is no reason at all why you would want to trade with this fraudulent broker – especially since so many regulated brokers offer great trading conditions alongside a safe trading environment.

Prosperous Regulation and safety of funds

Prosperous is a fully anonymous broker – the only way to get in touch with them is via e-mail. The broker has not provided a phone number or a registered address and does not seem to be at all licensed. Another thing they did not provide was Terms and Conditions, or any other legal documentation. This is a huge miss on their side, and one a legitimate broker would never allow.

Absolutely no information was provided on the essential subject of regulation which is a huge red flag. Generally, licensed brokers always make sure to let you know that they are licensed – after all, that is the best proof of their legitimacy, and probably the most important thing about a broker. With unregulated brokers, you will not have any guarantees that you will be treated in a fair and transparent manner, or that the broker is stable in financial regard.

We would recommend that you trade with brokers regulated in strict jurisdictions such as the UK, the EU, or Australia. Such brokers are under the supervision of merciless financial authorities and have to meet a huge number of requirements in order to obtain and keep a license. Licensed brokers have to:

• maintain some sort of minimum capital in order to prove their financial stability – at least EUR 730 000 in the UK, and AUD 1 000 000 in Australia
• provide Negative Balance Protection to retail customers – so your losses can never exceed the amount of money you have in your account
• keep client funds in segregated bank accounts – this speeds up withdrawals and proves that the broker is not using your money for its own purposes

Prosperous Trading Software

Prosperous promised access to the leading trading platform MetaTrader 5. Half the download links on their website were not even functional, to begin with. The other half did allow us to download some sort of software but we have huge doubts that this was actually MT5. That software came from an unverified publisher and we were warned that installing it could be dangerous. As a result, we made the decision not to take risks and simply did not install the platform this broker offers.

There are plenty of legitimate brokers that can offer the MT5 experience – but unlike Prosperous, they also offer a safe trading environment. Check out some such brokers if you are interested in seeing what this beloved platform has to offer.

Prosperous Trading instruments

Prosperous did not provide us with access to any markets – and as a result, it is impossible to say which trading instruments we would be able to trade with them.

Prosperous Spreads and cost of trading

Without a trading platform, we could not check out Prosperous’s spreads. But even if they turn out to be great, trading with such scammers is hardly worth it – many legitimate brokers can offer spreads of under 1.5 pips on all benchmark pairs.

Prosperous Maximum leverage

Since we could not access a platform with Prosperous, we were unable to discover what sort of leverage the broker offers – this is another subject they did not mention anything on.

Prosperous Deposit and withdrawal methods

Prosperous accepts deposits made via wire transfer and in crypto.

Never deposit in crypto with brokers that have not proven to be reliable – there is a reason why so many scammers prefer to receive payments in such a way. Crypto transactions are fairly anonymous – they can easily be traced to a wallet address but not to a specific person or organization. They are also irreversible – once payment has gone through, the only way for you to get the money back is if the recipient decides to send it back. This makes such transactions the perfect solution for scammers of all sorts. Many legitimate brokers also accept crypto payments – but always alongside other, more conventional, payment solutions.

Prosperous Minimum deposit

Prosperous did not specify the minimum deposit amount it requires. But even if their offer is affordable, trading with scammers is not worth it. Many legitimate brokers offer accounts for as little as $10.

Prosperous Withdrawal requirements

Prosperous did not provide us with specific withdrawal information – but such brokers often have very specific and unfavorable withdrawal conditions. Some of them charge huge withdrawal fees while others even ask for additional deposits in order to allow withdrawals.