ProsperityFX Review – Genuinity Is Not Their Primary Goal

At first glance, everything looks professional and promising about this broker. But after you hardly find their terms and conditions you realize the bitter truth. Prosperity Tech Ltd broker is offshore registered in the country Marshall Islands.

If you are thinking about poor regulation, you are right. But let’s go through every key point in our unbiased ProsperityFX review. Once you do that, get back here to check Nexospro and Liquidspro reviews to find out more. More knowledge can’t hurt you.

Is ProsperityFX a Reliable Company? Broker’s Regulation

Reliability is not their middle name. With offshore headquarters, there is not much to expect from this trading company. ProsperityFX is missing crucial security for every trader. Which is regulation. Not only that they don’t have domestic, but also any other Tier 1 license.  

We were checking numerous databases. Thus the results were disappointing. Institutions like FCA, ASIC, CFTC, CNMV or BaFin never heard of this broker.  Everything presented by this broker is obviously fake.

Another key point is that most likely they are operating under different names. We are wondering if it’s a coincidence that their website is exactly the same as with Kot4x (kot4x.com) broker. 

Overview of Trading Software

It’s not rare that scam brokers tend to look legitimate by offering trusted software. Indeed, Meta Trader 4 that they offer is widely accepted. It’s an industry-leading app that allows traders to maximize their results. However, with scam brokers like ProsperityFX, such software becomes useless. As many traders report in ProsperityFX reviews, the problems are withdrawals.

The main advantage over other software is MT4’s advanced features. Also, numerous charting options and analytical tools present huge improvements. With lightning-fast executions and mobile app availability, it’s one of the most used platforms. But, you can see now why trusted software doesn’t define a broker as trusted as well.

Besides MT4, the company offers TradeLocker web-based trading software. The features available are similar to the ones with TradingView. Mobile users will lack a designated mobile app. Therefore, it’s not comparable to MT4. Also, such software is eligible for market manipulation.

ProsperityFX Referrals

All referral programs have a good point when the company is genuine. However, with scam brokers like ProsperityFX that’s just a luring tactic to get more traders on board. The point is that traders recommend this broker to other people.

Of course, in exchange traders are rewarded in some way. With this scam broker, traders don’t get one-off payments. Instead, they are getting commission while referrals are trading. Thus, with non-regulated brokers most likely traders are getting funds in their trading accounts. But if you can’t withdraw those, you practically get nothing.

Trading Account Offered

Even though the company has a very low minimum deposit of $10, they can’t compare to licensed brokers. Simply because even a $10 investment can lead to something worse if the broker is not reliable. In general, traders can choose between 5 account types:

• Standard
• PRO
• VAR
• Mini
• Islamic

Important to realize is that this also looks the same as with Kot4x company. What a coincidence. Anyway, recommended minimum deposit goes between $25 and $500. Spreads start already at 0.4 pips for the PRO account. But for that same account type, you can expect an $8 commission. Which is quite high. Luckily, for other account types commission gets lowered.

On the positive side, besides an Islamic and Mini account traders can open a demo account.

Method of Deposit and Withdrawal

Here comes a huge red flag for the ProsperityFX broker scam. The company only accepts cryptocurrencies as the payment method. Even if you are using a card, you are most likely purchasing crypto on some third-party wallet.

The main reason behind this decision is anonymity. Here’s a hint – another similarity with Kot4x. Crypto transfers are practically irreversible. If you send money to the scammer, the money is gone. That’s why many traders that lost money this way don’t know what to do.

That’s why traders are always advised to use debit or credit cards. In case anything goes wrong they can file a chargeback request.

How the Fraud was Committed

The trader will advertise their services on social media as a quick-money scheme. Also, a very promising option is a referral program. Especially if the broker is running manipulated trading software. They can present you with insanely high fictive profits. The goal is to make you believe that you are making money and to deposit more. On top of that, to recommend them to other people.

However, the excitement diminishes once you request a withdrawal. That’s where the mission impossible starts.

ProsperityFX Summary

The company is not licensed to provide trading services anywhere. Moreover, they have very high trading costs and leverage. Besides Meta Trader 4, there is nothing competitive compared to other Tier 1 licensed brokers. But most importantly, the company accepts only crypto transfers. Which is a huge warning sign for everyone.

If this broker got you scammed, let us know. Our specialized team can trace your crypto transfer with CipherTrace software. A perfect tool that exposes all scammers. Book your consultation with our experts today. 

FAQs About ProsperityFX Broker