PROXTREND
Pros and Cons
Pros
- Regulated by the International Services Authority of Mwali
- Diverse trading instruments including Forex, CFDs, commodities, indices, stocks, and cryptocurrencies
- Advanced trading platforms: MT4/MT5, web version, and mobile app
- 24/5 multilingual customer support
- Client-centric approach with tailored investment strategies and comprehensive market analysis
Cons
- Not regulated by major financial authorities
- Limited information on payment methods
- Withdrawal issues reported by users
- High inactivity fees may apply
- Lack of advanced educational resources
Basic Information
User Reviews
PROXTREND Overview
PROXTREND LTD is a forex broker that has been operational for 1-2 years, based in the Comoros. The company is dedicated to providing a secure trading environment, adhering to stringent compliance standards in the industry to ensure a safe trading experience for its clients. PROXTREND is regulated by the International Services Authority of Mwali, holding the license number BF X 2024053. This regulatory framework adds a layer of trust and credibility, reinforcing the broker’s commitment to integrity and transparency in its operations.
The broker offers a range of trading instruments, primarily focusing on forex and CFDs, and provides advanced trading platforms designed for both desktop and mobile users. The platforms are equipped with robust tools and features that enhance the trading experience. Customer support is available 24/5, with a multilingual team ready to assist traders via various channels. PROXTREND distinguishes itself in the market with a client-centric approach, emphasizing tailored investment strategies and comprehensive market analysis to help clients navigate the dynamic financial landscape.
Is PROXTREND Safe? Regulation Analysis
Regulatory Information
| Regulatory Authority | Country/Region | Fund Protection Measures |
|---|---|---|
| International Services Authority of Mwali | Comoros | Segregated Funds |
Is PROXTREND Regulated and How Are Client Funds Protected?
PROXTREND LTD operates under the regulation of the International Services Authority of Mwali, holding the license number BF X 2024053. This regulatory status provides a degree of legitimacy to the broker, emphasizing its commitment to maintaining compliance with industry standards. The broker strives to ensure client fund safety through measures such as segregating client funds from the company’s operational funds. This approach helps protect traders’ capital in the event of financial difficulties faced by the broker. Moreover, PROXTREND emphasizes a secure trading environment, utilizing industry-standard protection for sensitive information. The 24/5 customer support offered by a multilingual team further enhances the service experience for clients, ensuring assistance is readily available for inquiries or issues that may arise.
Trading Products and Services
What trading instruments does PROXTREND offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | Major Pairs / Examples | Many |
| Commodities | Gold, Oil | Varies |
| Indices | S&P 500, NASDAQ | Varies |
| Stocks | US, UK | Varies |
| Cryptocurrencies | BTC, ETH | Varies |
PROXTREND offers a diverse range of trading instruments, catering to the various needs of traders across different experience levels. With a focus on forex and CFDs, the broker provides access to multiple asset categories, including commodities, indices, stocks, and cryptocurrencies. This extensive product lineup enables both beginners and seasoned traders to explore flexible trading strategies and tailor their portfolios for optimal diversification. By supporting a variety of markets, PROXTREND enhances the trading experience, allowing clients to navigate the dynamic financial landscape effectively.
Account Types and Trading Conditions
What Account Types and Fees Does PROXTREND Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Standard Account | Beginners | Lower capital requirements, user-friendly interface | Suitable for small-capital practice |
| ECN Account | Experienced Traders | Tighter spreads, faster execution | Requires higher trading volume |
| Demo Account | All Traders | Practice trading without risk | Ideal for skill enhancement |
Account Opening Process
Opening a trading account with PROXTREND is straightforward. Prospective clients should follow these steps: 1. Visit the PROXTREND website and select the desired account type. 2. Fill out the online application form with personal information. 3. Submit employment and financial information as required. 4. Complete identity verification by providing an ID and proof of address. After registration, clients can upgrade to a professional account later if desired.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (Major Pairs) | 1.2 | $0 | Competitive spreads for major currencies |
| CFDs (Stocks, Indices) | Varies | Variable | Depending on asset type |
| Cryptocurrencies | Varies | Variable | Dependent on market conditions |
Other Fees
Additional costs may include: – Deposit and withdrawal fees, which vary based on the method chosen. – Inactivity fees may apply if no trading activity occurs. – Platform usage fees are not specified. – Overnight interest (swap rates) may apply on positions held overnight. – Currency conversion fees may be applicable when trading in different currencies.
Trading Platforms and Apps
What Trading Platforms and Apps Does PROXTREND Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MT4/MT5 | Windows, macOS, iOS, Android | Login security (2FA, encryption), one-click trading, multiple order types, technical indicators | Demo accounts, API interfaces |
| Web Version | Any device with internet access | Enables trading without installation, market search features, price alerts | Demo accounts |
| Mobile App | iOS, Android | Convenient login, push notifications, real-time alerts | Demo accounts |
PROXTREND offers a variety of trading platforms catering to different trading styles and preferences. The MT4/MT5 platforms are well-suited for traders who require advanced tools and features, while the web version provides flexibility for those who prefer trading without installation. The mobile app enhances convenience, allowing traders to manage their accounts and receive real-time alerts on the go. Overall, PROXTREND’s platforms are designed to support secure logins, fast order execution, and efficient market searches, ensuring a robust trading experience across devices.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| Bank Transfer | 3–5 days | No platform fee | Min 50, Max 20k/day | USD, EUR |
| E-Wallets (e.g., Skrill, Neteller) | Instant | No platform fee, 1.5% charge | Min 50, Max 10k/day | USD, EUR |
| Credit/Debit Cards | 1–3 days | No platform fee | Min 50, Max 5k/day | USD, EUR |
Minimum Deposit
PROXTREND requires a minimum deposit of $50 for all account types. This amount does not vary by payment method but may be subject to different conditions based on account type or specific promotions.
How to Withdraw
- Log into your PROXTREND account.
- Navigate to the withdrawal section in the account management area.
- Select your preferred withdrawal method.
- Enter the amount you wish to withdraw.
- Confirm your withdrawal request.
- Check your email for confirmation and processing updates.
Customer Support
PROXTREND Customer Support Overview
Support Channels
PROXTREND offers several convenient support channels to assist clients effectively. Traders can reach out via:
- Email: Clients can contact the support team at info@proxtrendltd.com for any inquiries or assistance.
- Contact Form: A contact form is available on the PROXTREND website for users to submit specific queries.
Service Availability
Customer support is available 24/5, ensuring that assistance is provided during the trading week. PROXTREND’s support team is multilingual, capable of addressing inquiries in various languages to better serve a diverse clientele.
Additional Resources
To enhance the trading experience, PROXTREND provides valuable resources such as market analysis and trading signals, helping clients make informed decisions. Video tutorials and webinars may also be available to assist traders in improving their skills.
Frequently Asked Questions
Yes, PROXTREND LTD is regulated by the International Services Authority of Mwali, holding the license number BF X 2024053. This regulatory framework emphasizes the broker’s commitment to compliance and maintaining a secure trading environment for clients.
PROXTREND offers a diverse range of trading instruments, primarily focusing on forex and CFDs. Clients can trade various asset categories including commodities, indices, stocks, and cryptocurrencies, catering to both beginners and experienced traders.
PROXTREND prioritizes client fund security by implementing measures such as segregating client funds from the company’s operational funds. This helps protect traders’ capital in case of financial difficulties faced by the broker. Additionally, the broker employs industry-standard protections for sensitive information.
PROXTREND provides 24/5 customer support through various channels, including email and a contact form available on their website. The support team is multilingual and is equipped to assist clients with inquiries or issues they may encounter while trading.
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Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.