Trading Pro Broker Review: How Safe Is This Broker?

Trading Pro Overviews

In the labyrinth of online trading, every platform claims superiority. Among these, Trading Pro presents a portfolio of services, ranging from diverse account types to flexible transaction methods. However, with certain key aspects under the shroud of ambiguity, it provokes contemplation - Is Trading Pro a trusted choice for your financial endeavors? This objective review will present a clear picture, laying bare every essential detail about Trading Pro.

Pros and Cons

Is Trading Pro Safe? Broker Regulations

Trading Pro is a noteworthy financial platform renowned for its solid standing in the realm of online trading. The brokerage, formally registered as TradingPro International LTD, traces its origins back to St Vincent and Grenadines, as denoted by its registration number 24611 IBC 2018. The company is headquartered at Suite 305, Griffith Corporate Centre, nestled in the scenic landscape of Beachmont, Kingstown, in St. Vincent and the Grenadines.

In the same breath, Trading Pro also operates under the banner of TradingPro International (PTY) LTD. This entity is recognized as an authorized Financial Services Provider under the watchful eye of the Financial Sector Conduct Authority (FSCA). With a registration number of 2014/202132/07 and a FSP number of 49624, TradingPro International (PTY) LTD resides at 1276, Govant Building, on Kumul Highway, in the bustling metropolis of Port Vila, Vanuatu.

However, potential investors should note that the platform’s regulation exclusively falls under the jurisdiction of the FSCA. While this may afford a reasonable level of assurance, it is generally considered advantageous for a brokerage to have multiple regulatory endorsements. Multiple registrations provide a stronger foundation of trust and protection for traders, establishing more stringent oversight and ensuring operational transparency and accountability.

As you delve into the content presented on Trading Pro’s website, you’ll find a conspicuous absence of broker awards. However, their Trustpilot score is prominently displayed in the footer across all their pages as well as their regulatory information, marking an attempt at transparency and authenticity. Nonetheless, this score’s reliability may be questioned due to the small number of reviews it is based on – a total of 23. The validity of such a small sample size may not accurately reflect the platform’s performance and user satisfaction.

In conclusion, Trading Pro presents a solid trading platform, albeit with a limited regulatory scope. It showcases commendable transparency efforts, though its Trustpilot score might not be a comprehensive indicator of customer satisfaction due to its limited reviews. Potential investors are encouraged to conduct thorough due diligence before committing to any trading platform.

What Can I Trade with Trading Pro?

Trading Pro, as a trading platform, invites its users into the complex world of financial markets. However, upon closer examination, a certain level of ambiguity becomes apparent. Specifically, the platform provides no clear information about the array of tradable assets it offers.

As a potential trader, one would expect to find detailed insights regarding the variety of assets available for trading. The lack of such information on the broker’s website is a conspicuous omission. Even after you’ve gone through the registration and account creation process, the client area remains void of any explicit data on the variety of tradable assets. This dearth of information extends to any references or links to assets, leaving users in the dark about what they can invest in.

The only instance where any form of asset is hinted at is in the description of account types. Here, it is subtly indicated that trading is possible in “major pairs,” which include currencies like USD, GBP, EUR, AUD, CAD, and JPY.

Also, on these account pages, there is some indication that perhaps clients can also trade precious metals and oil. Beyond this, you will only find that the Expert account offers crypto, equity (stocks), and indices. However, no other information is available.

This lack of asset information is a serious drawback for several reasons. First and foremost, it stifles the ability of the trader to make informed decisions. It’s virtually impossible to develop a solid trading strategy without knowledge of what assets are available for trading. Furthermore, different assets come with distinct risk and return profiles. As such, understanding what you can trade is a crucial part of risk management.

In addition, a variety of tradable assets is a key aspect of diversification. With diversification, traders can spread their investments across different assets to mitigate risk. If traders are unsure of the available assets, they cannot effectively diversify their portfolios.

Finally, the availability of a wide range of assets is a sign of a robust and comprehensive trading platform. The lack of information about assets on Trading Pro could create an impression of a limited offering, which may discourage some potential users.

In conclusion, while Trading Pro does provide an entry point into the world of trading, the lack of information about its tradable assets presents a significant concern. Potential traders should consider this fact carefully when deciding whether to engage with this platform. As always, it is important to undertake thorough research before diving into any investment activities.

How to Trade with Trading Pro?

As a broker, Trading Pro is equipped with two industry-standard trading platforms: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). You can explore a detailed overview of these platforms by navigating to the ‘platforms’ section in the primary menu on the broker’s website.

MetaTrader 4, often considered the classic choice, is known for its reliability and the wealth of resources it offers traders. Its advantages include a vast knowledge database, an array of trading robots, and a suite of indicators. It also offers a broad range of tradable instruments such as forex, indices, precious metals, oil, cryptocurrency, and equities. Noteworthy features also include its capacity for customization, ensuring the platform caters to your unique trading style.

Furthermore, MT4 is equipped to execute your orders with no partial fills, courtesy of its impressive depth of liquidity. Its advanced technical analysis tools, consisting of more than 50 indicators, and customizable charting available in 22 languages are other standout features. Lastly, MT4’s automated trading capability allows you to remain active in the market 24/5 without constant intervention.

On the other hand, MetaTrader 5 is the more recent offering, renowned for its faster processing time and inclusion of netting and hedging systems. Like its predecessor, MT5 provides an array of tradable instruments, including forex, indices, precious metals, oil, cryptocurrency, and equities. Ease of use and advanced customization options are among its notable features.

Moreover, MT5 is easier to code using MQL5, optimizing the processing of expert advisors and indicators. It also gives you the ability to hedge your positions and offers automated trading capabilities for round-the-clock market access.

Both platforms are designed with user-friendly interfaces and offer advanced analysis tools, algorithmic trading capabilities, and multi-account management features. Emphasizing user security, they also provide robust safeguards to protect your trading and personal information.

In essence, Trading Pro’s choice of trading platforms provides robust tools, a variety of tradable assets, and flexible trading experiences for both novice and experienced traders. It’s recommended to download and explore both platforms to understand which would better suit your trading style and strategies.

How Can I Open Trading Pro Account? A Simple Tutorial

In order to open up an account with this broker, you will first need to head to their website. You will then need to click the “register” button to the right of the main menu.

Once you have done that, you will be redirected to the registration page, where you will need to select your title and fill in your name, birth date, country of residence, phone number, Email, and password. Here you will also need to accept the broker’s terms and conditions.

You will then be prompted with a confirmation screen. This is where you will need to fill in a PIN that was sent to your Email address for registration.

Once you have entered the PIN and clicked the “Continue” button, your registration will be complete, and you will be redirected to the client area, where you will have access to your account. Take note that the registration process is technically finished, but you will still need to upload your ID/Drivers License/Passport and your “credit card deposit” to verify your identity.

Remember that many brokers will let you deposit funds and then trade on a live account. However, if you wish to withdraw any funds, you will always need to verify your identity first. Also, we have reviewed another two brokers with this same client area and registration process: Vonway and Loyal Primus. Remember that many brokers may purchase a White Label solution for their business, so many may have the same infrastructure.

Trading Pro Charts and Analysis

Trading Pro, as a trading broker, incorporates a couple of trading resources that are worth exploring. In the ‘tools’ section of the website, you’ll find an Economic Calendar and a Terminology section. While these are fundamental tools for any trader, they may not suffice as comprehensive educational resources.

The Economic Calendar is an advanced tool that offers a timeline of significant financial events and provides the capability to filter and target specific data. This can be incredibly useful for traders who rely on fundamental analysis, as it allows them to track market-moving events and anticipate potential market shifts.

On the other hand, the Terminology section serves as a basic glossary, offering definitions of common trading terms. This can be helpful for new traders looking to familiarize themselves with the jargon of the trading world.

However, it is worth noting that these useful tools do not contribute significantly to the educational foundation that a broker ideally should offer its traders. Comprehensive trading education is a crucial aspect of a brokerage, as it equips traders with the necessary knowledge and skills to navigate the often-complex financial markets.

For instance, quality educational resources often include in-depth articles, webinars, e-books, courses, and video tutorials, covering a wide range of topics from trading strategies to technical and fundamental analysis. These resources help traders, especially beginners, to understand market dynamics, build solid trading strategies, manage risk effectively, and ultimately, become more confident and proficient in their trading activities.

Furthermore, constant updates on financial news and market analyses can significantly aid traders in making informed decisions. By keeping their traders well-informed, brokers can help them anticipate market trends and make better trading decisions.

While Trading Pro offers an advanced Economic Calendar and a basic glossary, its offerings may seem sparse compared to other brokers that provide extensive educational resources and up-to-date news. As a trader, seeking a platform that provides a comprehensive educational infrastructure to ensure continuous learning and growth in your trading journey is always recommended.

Trading Pro Account Types

Trading Pro offers a variety of trading account types, each catering to specific trader needs. You can find detailed information about these accounts in the ‘trading accounts’ section under the ‘trading’ tab on their main website.

Starting with the Micro Account, it’s ideal for anyone stepping into the world of trading. It doesn’t require a significant investment, with the minimum deposit set at a mere $1. You can trade on an assortment of 57 currency pairs, including major ones like USD, GBP, EUR, AUD, CAD, and JPY. Precious metals and oil are also accessible. The account provides variable spreads, beginning from 1.6 pips, and notably, there are no commissions. One added benefit is the swap-free feature, offering traders a slight edge. The stop-out level, which is the point where all of an investor’s active trades in the foreign exchange market are closed automatically by their broker, is set at 10% for this account. This low-risk approach is a great way for both novice and seasoned traders to refine their strategies.

The Rookie Account is a step up but still accessible to beginners, with the same minimum deposit of $1. It offers trading on 57 currency pairs, precious metals, and oil with a significantly lower spread that starts from 0.0 pips, although a commission of $3 per lot applies. Interestingly, the stop-out level for this account is raised to 30%, providing a buffer for traders. However, note that, unlike the Micro Account, certain strategies are not permitted with the Rookie Account.

If you’re a more experienced trader, the Pro Account could be a perfect fit. It asks for a slightly higher minimum deposit of $10. You have the same access to 57 currency pairs, precious metals, and oil, with variable spreads starting from 1.6 pips. There are no commission charges for the Pro Account, which also allows all trading strategies. The stop-out level for this account type is set at 20%.

Next, the ScalpX Account is designed for traders comfortable with scalping – a trading strategy that seeks to profit from small price changes. The minimum deposit requirement for this account rises to $50. The ScalpX Account provides a broader trading spectrum with 151 currency pairs and precious metals, oil, index, cryptocurrencies, and equity. The spread starts from 0.0 pips, and a commission of $3 per lot is applicable. The stop-out level is at 30%, similar to the Rookie Account.

Finally, for those trading on an extensive scale, Trading Pro offers the Expert Account. With a minimum deposit of $200, this account gives traders access to a broad array of 151 currency pairs, precious metals, oil, indices, cryptocurrencies, and equity. Spreads start from 0.0 pips, and there is a commission of $3 per lot. The stop-out level is set at 30%.

In conclusion, Trading Pro offers diverse account types to cater to a wide range of traders with varying strategies and investment capabilities. Whether you are a beginner or an expert, there’s an account type tailored to your needs. However, it’s essential to thoroughly understand the specifics of each account type and align them with your trading goals and risk tolerance.

Do I Have Negative Balance Protection with This Broker?

In the complex world of online trading, it’s crucial to understand all the policies and safeguards in place to protect your interests. One such essential policy is negative balance protection. Unfortunately, information regarding this vital policy appears notably absent from Trading Pro’s website and their “Client Agreement.”

Negative balance protection is an essential safeguard in forex trading. Essentially, it’s a preventive measure that ensures traders will never lose more money than they have invested in their trading account. In the fast-paced forex market, significant fluctuations can occasionally lead to a scenario where a trader’s balance might drop below zero – meaning the trader owes money to the broker. Negative balance protection policy, where it’s implemented, ensures that the trader’s balance doesn’t drop below zero, irrespective of how the market behaves.

Why should brokers and traders value this policy? From the trader’s perspective, negative balance protection serves as an essential safety net, providing assurance that they won’t end up owing money beyond their initial investment. For brokers, offering this protection can boost their credibility and attract a broader base of clients who might feel more secure knowing that they won’t lose more than they put in.

Sadly, the absence of explicit information about negative balance protection policy in Trading Pro’s documentation raises concerns. As a trader, it’s crucial to have transparency and know all the conditions tied to your trading activity. Without such explicit disclosure, we are left uncertain whether Trading Pro provides this crucial protection, which indeed puts its credibility in question. It’s always advisable to seek clarification from the broker directly or consider options that offer clear and straightforward policies.

Remember, every detail counts in trading, and understanding your risk management options can make a significant difference in your trading journey. Transparency from the broker’s end plays a vital role in building trust and setting clear expectations for both parties involved.

Trading Pro Deposits and Withdrawals

The aspect of depositing and withdrawing funds is an essential component of the trading experience. On Trading Pro, you can access these details under the “Trading” menu, specifically within the “Trading Conditions” section.

Trading Pro strives to provide a seamless experience, which includes swift and secure deposits and withdrawals. They offer an array of payment methods, including traditional bank transfers, credit cards, e-wallets, and even cryptocurrency options, all operated via the Trading Pro client portal.

Trading Pro requires that all deposits originate from a reputable source to uphold the integrity of transactions. To deter third-party payments, clients are asked to furnish proof of bank account ownership. For instance, in the case of a credit card deposit, the card must be under the client’s name, following their Anti-Money Laundering (AML) policy. Non-compliance with this policy may result in the forfeiture of the deposit. Importantly, Trading Pro does not levy any additional commission on deposits.

Regarding withdrawal, as stipulated in their Client Agreement, clients are to withdraw funds solely via the same method they used for the deposit. This means if you deposited funds via a specific bank account, credit/debit card, or payment system, you should utilize the same for withdrawal. Moreover, the currency of the withdrawal should align with that of the deposit.

Below is an overview of the various deposit and withdrawal methods available:

Deposits

• Visa | Master: Minimum $100, Instant Processing
• Walaopay: Minimum $10, Instant Processing
• FasaPay: Minimum $10, Instant Processing
• Paytrust: Minimum $10, Instant Processing
• Crypto: Minimum $100, Instant Processing
• Virtual Account: Minimum $23, Instant Processing
• PromptPay: Minimum 300THB, Instant Processing
• Dragonpay: Minimum 2500PHP, Instant Processing

Withdrawals

• Visa | Master: Minimum $100, Processed within 1 working day
• Walaopay: Minimum $15, Processed within 1 working day
• FasaPay: Minimum $10, Processed within 1 working day
• Paytrust: Minimum $15, Processed within 1 working day
• Crypto: Minimum $100, Processed within 1 working day
• PromptPay: Minimum 300THB, Processed within 1 working day
• Dragonpay: Minimum 2500PHP, Processed within 1 working day

This range of deposit and withdrawal options is a testament to Trading Pro’s commitment to flexibility and convenience for its traders but does not negate their other lack of information for various key features. Remember, the key to successful trading also lies in understanding all aspects of the trading conditions, not just the funding process.

Support Service for Customer

Customer support is a crucial aspect of any brokerage service, and Trading Pro doesn’t disappoint in this regard. Information regarding their support channels can be conveniently located under the “About Us” menu in the “Support” section.

Trading Pro offers an assortment of channels through which you, as a trader, can get in touch with their support team. These channels aim to address any queries or concerns promptly and efficiently. If you have a question or need assistance, you have the option to reach out via Whatsapp, Messenger, Line, Instagram, or Telegram. Traditional channels such as telephone and Email are also available, ensuring a wide reach and accessibility for all types of clients.

Their customer service operates 24 hours a day from Sunday to Monday, indicative of their commitment to serving their clients round-the-clock. For phone support, they provide the number (+44) 02032894388. If you prefer email communication, you can send your inquiries or concerns to support@tradingpro.com.

Trading Pro also has a comprehensive Frequently Asked Questions (FAQ) section where you can find answers to many common questions. These range from account verification and password retrieval to technical queries about spreads, swaps, and leverage. This section can be a valuable resource for novice and experienced traders.

However, while Trading Pro does provide various customer support channels, it’s important to note that information about many of their other features is notably missing. This lack of information can be a bit unsettling for traders who value transparency and full disclosure in a brokerage service.

Therefore, as a trader, it’s essential to seek and consider all the information available, not only about the customer support channels but also all the other features and services a broker offers. This is a critical step towards ensuring a smooth and successful trading experience.

Prohibited Countries: Where Can I Not Trade with this Broker?

Trading Pro, a broker in the financial market, is an entity that facilitates transactions between buyers and sellers. However, a crucial piece of information that is currently unavailable on their website is the specifics of the regions where they are permitted to operate. This detail remains elusive even after thoroughly examining their legal documents.

Knowing where a broker can provide its services is essential, as this pertains to its regulatory status and compliance with international trading laws and regulations. In the financial markets, it’s not uncommon for certain brokers to be restricted from operating in specific regions for various reasons, such as sanctions, local regulations, and laws.

Regulation is a significant aspect when it comes to trading and brokerage services. Regulatory bodies are responsible for ensuring that brokers operate fairly, transparently, and legally. This involves adhering to strict standards to protect clients’ interests. Such oversight helps ensure the broker cannot engage in any manipulative or fraudulent practices.

Brokers who do not conform to regulatory norms can face penalties, including being banned from operating in certain regions. Some regions have stringent financial regulations and only permit brokers who meet their high standards, thereby protecting the interests of local investors.

The absence of this information regarding Trading Pro’s operational regions on its website might raise concerns. As a trader, it’s vital for you to be aware of such details as it impacts your trading activities and could potentially pose risks. The knowledge of where your broker operates can also provide insights into their credibility and reliability.

Thus, transparency in such matters from a broker is a significant indicator of their commitment to maintaining a trustworthy and professional relationship with their clients. It helps build trader confidence, aids in informed decision-making, and mitigates potential legal risks. In its absence, assessing a broker’s full compliance with regulations and evaluating the possible legal implications become challenging.

Special Offers for Customers

As a broker, Trading Pro provides various services to its clientele. Among these offerings, under the “Promotions” section, they have an intriguing “Trade for Cashback” feature. This program, in essence, allows traders to receive a certain amount back from transaction costs for each executed trade, depending on the account type. For instance, if you’re a trader with a ‘Rookie’ account, you can expect to receive 1 USD back per lot traded, while ‘Micro’ account holders can look forward to 2 USD per lot.

While the cashback program is an excellent initiative to keep the transaction costs low and enhance trading experience, it’s worth noting that Trading Pro offers this as its only special offer or promotion. The range of promotions provided by a broker can be an influencing factor when a prospective client is considering various brokerage options.

A broader spectrum of promotional offers can be advantageous for both the client and the broker. For the client, diverse promotional offerings can present opportunities for additional savings, rewards, or enhanced trading conditions. Meanwhile, for the broker, it provides a way to attract a wider range of clients with varied trading habits and preferences.

Many brokers in the financial market offer a diverse array of promotions. For instance, some brokers provide a welcome bonus for new accounts or a deposit bonus to incentivize traders to increase their trading volumes. Others may offer risk-free trades, where any losses from the first few trades are refunded back into the trader’s account. Some brokers also have referral programs, rewarding clients for bringing in new traders to the platform.

While the cashback feature provided by Trading Pro is a step in the right direction, the presence of a more diverse set of promotional offerings could potentially make Trading Pro more appealing to a larger segment of traders, thereby enhancing their client base and overall market standing.

Trading Pro Review Conclusion: Reputable Broker with Easy-to-use Platform

while Trading Pro does offer some appealing features, its overall safety and reliability as a broker is a matter of concern.

PIPPENGUIN

To conclude, while Trading Pro does offer some appealing features, its overall safety and reliability as a broker is a matter of concern. The absence of clearly stated regulatory affiliations casts a shadow of uncertainty over the company’s operations.

While the customer support seems comprehensive, providing various channels to reach out, the lack of crucial information on their website, such as regional operation limitations and policies like negative balance protection, puts a dent in their credibility. In the finance industry, transparency and accessibility of information are fundamental for client trust, and Trading Pro appears to fall short on these aspects.

Summary and Key Takeaways

In summary, Trading Pro has a range of account types catering to different experience levels and investment capacities. It operates on an industry-standard platform and provides a swift and secure process for deposits and withdrawals. However, while its resources and promotional offers have some merits, they are relatively limited in comparison to industry norms.

FAQs

What is the minimum deposit for Trading Pro?

The minimum deposit for Trading Pro is 100 USD for Visa/Master transactions and 10 USD for Walaopay, FasaPay, Paytrust, and several other methods.

What is the minimum withdrawal from Trading Pro?

The minimum withdrawal from Trading Pro is 100 USD for Visa/Master and Crypto transactions and 15 USD for Walaopay and Paytrust, among others.

Is Trading Pro regulated?

Yes, Trading Pro is regulated by the FSCA.

About Author

Robert J. Williams

MBA from the University of Southern California with a significant background in finance. Extensive professional experience with top investment firms such as Balt Investment and Globe Investments, enhancing venture capital portfolios and developing sophisticated investment strategies. Contributing expert at PipPenguin, where he simplifies complex financial topics and online brokers for a broad audience, empowering them with the knowledge to succeed in trading.

Read more ...