Prospero Markets Review: Your Trusted Trading Partner for All Needs
Leading Asia Pacific execution-only broker Prospero Markets Pty Ltd offers an online trading platform for a variety of financial instruments, such as FX, commodities, indices, and share CFDs.
In this Prospero Markets review you will learn everything you need to know including the broker’s account types, traders they serve, pros and cons, and many more. Delve deep into this review with us and you will know if Prospero Markets is the one. If not, you can learn more about Topstep in our comprehensive reviews.
All About the Prospero Markets CFD Broker
Prospero Markets can be found at Suite 502 1 Castlereagh St., Sydney, NSW 2000, and Level 4, 990 Whitehorse Road, Box Hill 3128, VIC. They are new to the market, having been founded in 2021, and subject to ASIC’s Australian Financial Services Licence (AFSL).
They were able to establish a solid reputation as a trustworthy broker in just two years. While we acknowledge that no broker is flawless, Prospero Markets at least makes an effort to follow the law and be open and honest.
|Prospero Markets Pty Ltd
|Warnings from Financial Regulators
|Level 4, 990 Whitehorse Road, Box Hill 3128, VIC
Sydney office address:
Suite 502 1 Castlereagh St Sydney NSW 2000
1300 768 888
|Meta Trader 4
|Majority of clients are from
|Australia; Malaysia; United States; Singapore
|24/5 customer support through live chat
Prospero Markets is the trading name of Prospero Markets Pty Ltd, and it is governed by ASIC under the Australian Financial Services Licence (AFSL). The Prospero Markets license number is 423034.
All it takes to get their first green flag is regulation. There will be more positive indicators about Prospero Markets as we continue our review, indicating that it is a secure broker to trade with.
Prospero Markets Broker Profile
Trading in forex, metals, indices, commodities, and share CFDs are available at Prospero Markets. Since their maximum 1:30 leverage is within acceptable bounds, we can assume they are following the guidelines.
Although we think the 500 AUD minimum deposit needed to begin trading on the Prospero Markets MT4 platform is a bit excessive, they do offer a demo account that allows you to try out the services before committing.
|Financial Instruments On Offer
|1:5 – 1:30
|Education or Extra tools
|Market Insights, Courses, Educational Resources
Prospero Markets Account Types
The Standard Account and VIP Account are the two account categories that Prospero Markets provides. Competitive pricing, leverage up to 30:1, and no commission on the majority of CFDs are all benefits of the Standard Account. The minimum deposit required is 500 AUD. Additionally, the commission is not charged even for Prospero Markets commodities.
In addition to tighter spreads, more leverage, and a charge of 3 AUD or 2 USD per standard lot per side on select CFDs, the VIP Account has a minimum deposit requirement of AUD 20,000. You will also get a Premium ATG account manager and Prospero VIP seminars.
Prospero Markets Fees
Because the broker does not impose a commission, they are appropriate for all types of traders. Additionally, depending on the account type you select, their spreads range from 0 to 2.8 pips. The broker does not charge fees for deposits or withdrawals, however after six months, there is an inactivity fee of 10 AUD.
In comparison to other brokers, the costs levied are quite modest, there is no commission, and spreads can begin at 0 pip, which is an excellent feature. Prospero Markets is a trustworthy option that has long maintained its good name.
Is Prospero Markets Safe To Trade With?
Prospero Markets offers reasonable spreads, no commission fees, and is overseen by ASIC, a prominent regulatory body. ASIC has a compensation fund that will reimburse you if something goes wrong with the broker. They also provide 1:30 leverage, which in certain circumstances may be detrimental to trading but indicates that the organization is secure because they adhere to the regulations.
Because they only provide a few courses, we would argue that they lack educational materials, but that doesn’t mean the broker is unsafe to trade with. It has been verified that they have an office in Sydney, which is another encouraging development. You can trust the broker overall, but it doesn’t imply it’s the right choice for you. The first step to a profitable trading career is to get in touch with us now or read our review of Valutrades for more options.
A Look at Prospero Markets’s Traders They Serve
Through their Introducing Broker program, the broker appears to attract clients; among other countries, they serve traders from Singapore, Malaysia, Australia, and the US. Apart from providing a chance to make money by recommending the broker to your friends, they have built a solid reputation by adhering to regulations and maintaining transparency.
Prospero Markets works hard to give its clients a trustworthy trading environment, but traders should conduct thorough due diligence and research before selecting them as trading partners. Because brokers might change their ways and licenses can expire, it’s critical to verify current information. Please get in touch if you would like further information about trustworthy alternatives. Depending on your needs, we can either supply trading advice or suggest brokers. Give us a call to start along the path to a dependable and profitable trading career.
Deposits and Withdrawal Methods
Prospero Markets offers numerous ways to make deposits, including Bpay, bank wire, credit card (VISA/MASTERCARD), and bank transfer. Bank wire transfers may incur interbank fees that are determined by your bank. Kindly note that Prospero Markets does not take any money from other sources.
Prospero Markets’ withdraw request can be submitted using your client portal, and it may take one to three business days for them to be processed. An AUD 10 monthly account holding fee will be applied to the account if no trades have been made for more than six months. This is more than fair compared to other brokers that charge even $100 for an inactive account.
Prospero Markets Pros and Cons
Long Story Short – Prospero Markets
To sum up, Prospero Markets is one of the few trustworthy brokers available today. Their goal is to provide a profitable trading experience by providing cheap fees, competitive spreads, transparency, and regulation. Additionally, there are no commission fees, which is advantageous for traders—especially novices.
ProsperoMarkets forex trading Australia isn’t accessible everywhere, though; in Malaysia, the US, and Singapore, it operates unlicensed. Furthermore, it’s odd that traders haven’t left any evaluations, given their reputation.
All things considered, Prospero Markets is a secure choice for novice and experienced traders alike. There is a chance that you are not a good fit for this broker because different traders have different needs. You can get in touch with us for more dependable brokers or look through our other reviews, like VantageMarkets. Don’t forget that there is no obligation when you get in touch with us right away.
Is Prospero Markets Legit?
Yes, ProsperoMarkets is a legit brokerage company regulated by ASIC. They are a reliable and safe option for traders.
What Is Minimum Deposit with Prospero Markets?
The minimum you need to deposit to trade with ProsperoMarkets is 500 AUD for a Standard account and 20,000 AUD for a VIP account type.
Is It Safe To Trade With Prospero Markets?
ProsperoMarkets is regulated, and transparent, and they offer competitive spreads and charges no commission. They make a reliable and safe choice on the market.