|Broker Type:||Forex & CFDs|
|Operating since year:||N/A|
|Address:||Address:12 Endeavour Square, London E20 1JN|
|The Trading platforms:||Proprietary|
|Trading platform Time zone:||N/A|
|Other trading instruments:||Yes|
|Spread:||Floating From 0.0 Pips|
- General Information & First Impressions
- Fund and Account Security
- Registration at protradespot.com
- Account info
- Protradespot’s Trading Platform
Protradespot Review – Efficient Forex & CFD Trading
General Information & First Impressions
Protradespot is an attractive broker with an excess of 30,000 customers, since it started operating. As such, it’s already earned its spot among brokerages to look out for in the future. Our Protradespot review will look into the broker and help you decide whether to sign up for its services.
Let’s start with some broader information about the broker. Many traders have preferences when it comes to broker location and type. As such, it’s important not to skip over such details, since they can make or break a service for some people.
However, we believe most people will be pleased with what they hear about protradespot.com. It’s an English broker, with its head offices being located in London, or more precisely, at 12 Endeavour Square. For the people that don’t like offshore brokers, that might already be reassuring.
It’s also a CFD broker that focuses on its forex trading service. Now, some may be concerned that it’s a dishonest broker because a lot of scams operate as CFD brokers. However, we believe it’s much more beneficial for traders to judge on a case-by-case basis. That’s because CFD brokers often offer more beneficial conditions, and finding a safe one can significantly improve your trading experience.
We’ll go over the broker’s security later in our protradespot.com review, but we also need to go over our initial expression. Beyond the general info we have covered already, the broker feels like a competent and streamlined company. Its website is well-organized, respecting your time and letting you quickly learn whatever you need to about the broker.
So far, we’ve enjoyed everything we’ve seen from the broker. Of course, first impressions aren’t everything, but it’s good to start on the right foot. We’ll see how the broker holds up through the rest of our review.
Fund and Account Security
As we said a bit before in our Protradespot review, security basically makes or breaks brokers like it. However, the unfortunate part is that a lot of traders can’t estimate a broker’s safety precisely. There are a few factors preventing them from doing so. The leading one is that learning how to check a broker’s safety and then doing so is boring.
In the current trading world, a lot of traders are new and started trading under the influence of influencers. However, modern internet trading personalities don’t gain their position by offering sound advice. Instead, they sensationalize and say what people want to hear. That gains them a cult-like following despite their advice often being flat-out wrong.
Traders that start trading because of such internet personalities are the prime target for scammers. That’s because they’re easily swayed by unrealistic promises and the illusion of certain profits.
Of course, there are other reasons people don’t know how to investigate brokers. For example, learning how to is a long process that isn’t always straightforward. That’s why we’ve devoted this part of our protradespot.com review to investigating whether the broker is secure.
Luckily, there are a ton of indicators that the broker doesn’t mean any harm to users. As we already said, it has over 30,000 users, and seems to enjoy a positive reputation among them. At the time of writing, it has positive grades across multiple trust review outlets, which is quite reassuring.
However, on top of that, the broker also chose to operate from England, which is a highly-regulated area. Less trustworthy brokers wouldn’t pick a high-security area to operate from, so that’s more confirmation. We don’t think you’ll see any security issues while using Protradespot.
Registration at protradespot.com
Although registering with a broker constitutes a fraction of the time you’ll spend with it; it’s still a vital part of the process. That’s because a lot of brokers have become overbearing with the information they require from customers. That makes the registration process tedious at best and dangerous at worst.
A general rule in online security is to have as little information about you as possible going around. Of course, that isn’t always possible, but it means you should strive to hand in as few details about yourself as you can. And with brokers having access to your payment info, address, full name, and at times, occupation, marital status, etc., the danger of information misuse is high.
That doesn’t need to be an intentionally malicious occurrence. Sometimes, a broker gets hacked, and if hackers can’t reach user account funds, they’ll settle for info. Ideally, you’ll have as little information as possible for them to steal.
Of course, the broker still needs to know certain things about you. It’s illegal for it to provide you with a service otherwise.
As we said earlier in our protradespot.com review, it’s a safe broker. Because of that, it operates on a need-to-know basis. In other words, it only requires information that’s immediately necessary. That makes it more comfortable for customers, as well as safer.
Many brokers fail to create a compelling account service because they aren’t certain what to do with it. It seems as if they’re splitting their service into accounts simply because everyone else is doing the same. Protradespot takes a different aproach, and is much more purposeful in its account separation.
Of course, the primary service of the accounts is the broker to be able to appeal to a wider audience. If it gave luxury conditions to everyone, a broker’s operational costs would become unendurable. Conversely, if it only offered the bare minimum, it would struggle to attract high-end customers.
As we know, a significant part of a broker’s profits comes from its luxury users, so it’s fairly important for a broker to be able to compel them to its service. But as we said earlier in our Protradespot review, it already knew that.
It created an account service that’s fair on both the budget and luxury ends, which most brokers fail to do. It went about it fairly simply; by creating account options without considering the others. While that may sound like a bad thing, the results are universally positive.
By creating accounts by focusing on users that use the service, rather than the other accounts, you get a much more natural service. It actually fits the user instead of the broker’s preconceived notion. As such, it lends itself to a fantastic account setup that improves the overall service.
Protradespot’s Trading Platform
The trading platform takes what’s good about the rest of the broker’s service and amplifies it. For starters, its usability is fantastic, allowing users to quickly learn, even if they’re starting from scratch. Of course, that also applies to traders that are switching from another broker. You’ll adapt much faster since the broker offers a simple-to-use and adaptable platform.
However, you shouldn’t confuse intuitiveness for simplicity. While the platform is easy to get used to, it doesn’t lack features or potency. As we said earlier in our protardespot.com review, the broker values power as well as usability.
So you’ll have multiple timeframes, different trade execution options, as well as one-click trading. The last is especially meaningful for day traders, scalpers, and others that rely on high-intensity trading. Not needing to click an extra time can amplify the number of your trades and let you end them at specific points.
Of course, you’ll also be able to use automated features, such as take wins and stop losses. You’ll also be able to edit them after you’ve placed your trade. Overall, the platform contributes to user success, is comfortable to use, and makes trading simple, even for newer traders.
From just about everything we’ve seen from Protradespot, we can conclude that it earned its position. It’s one of the fastest brokers to rise through the ranks and become a serious market competitor. It did that by offering a simple and streamlined service that still packs a significant punch. It’s also knowledgeable about what traders want and deliberate in constructing its service around that.
The conclusion to our Protradespot review is that you should go and sign up for the broker. We’re sure that the vast majority of traders will enjoy it.