Broker Summary
Summary of the broker
Introduction
Prodigy Markets, established in 2023 and headquartered in Mauritius, is a forex and CFD broker serving both retail and institutional clients. It offers a proprietary trading platform alongside MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Despite promoting low commissions and advanced trading tools, the broker is unregulated, which increases potential risks for traders.
Background and History
Founded: 2023
Location: Mauritius
Focus: Forex and CFDs
Platforms: Proprietary, MT4, MT5
Client Base: Retail and institutional
Services: White-label solutions, asset management
Key Features and Offerings
Trading Platforms
Proprietary platform: Advanced charting, real-time alerts, seamless execution
MT4 & MT5: Popular, robust, and widely supported
Account Types and Instruments
Clients: Retail and institutional
Instruments: Forex (major, minor, exotic), CFDs on cryptocurrencies, indices, commodities, stocks
Unique Features
ECN Execution Model: Fast, transparent trade execution
API Access: Supports automated trading
Educational Resources: Webinars, market analysis
White-Label Solutions: For institutional clients
Regulatory Compliance and Licensing
Regulator | License Number | Status |
|---|---|---|
Financial Services Commission (Mauritius) | Not Applicable | Unregulated |
Other Top-Tier Regulators (FCA, CySEC, ASIC, etc.) | None | Not Licensed |
Note: The broker is unregulated, lacking investor protection mechanisms.
Trading Conditions and Platform Technology
Feature | Details |
|---|---|
Spreads | Low spreads claimed; exact figures not disclosed |
Leverage | Not specified |
Minimum Deposit | Not specified |
Execution Speed | Average 0ms (claimed) |
Platforms | Proprietary, MT4, MT5 |
API Access | Available for automated trading |
Proprietary platform complemented by MT4/MT5
Features: Advanced charts, real-time alerts, economic calendar
Fee Structure
Fee Type | Details |
|---|---|
Deposit Fees | Not specified |
Withdrawal Fees | Not specified |
Commissions | Marketed as low; exact rates undisclosed |
Inactivity Fees | Not mentioned |
Other Charges | No detailed fee schedule publicly available |
Note: Exact fees are not disclosed; caution advised due to unregulated status.
User Experience and Market Reputation
Positive reviews on official website: reliable execution, trading tools, educational resources
Independent concerns: unregulated status, limited transparency
Pros: Low commissions, advanced tools, educational support, institutional services
Cons: Unregulated, limited fee transparency, higher risk exposure
Recent Developments
No regulatory updates since 2023
Not affiliated with unrelated "Prodigy" scam incidents
Conclusion
Prodigy Markets offers advanced trading platforms and a wide range of instruments but operates without regulation. Traders should exercise caution, conduct due diligence, and carefully assess associated risks before engaging.
Regulatory Licenses
Compliance & oversight
FSCTier 3Regulated
Account Types
Trading account options
No Account Types
Account type information is not available for this broker yet.
Funding Methods
Deposit & withdrawal options
Credit/Debit Cards
Bank Transfers
E-wallets
Cryptocurrencies
Trading Platforms
Professional trading tools
Meta Trader 5
by MetaQuotes Software Corp • 2010
Live Spreads & Trading Costs
Compare real-time spreads on major currency pairs
Spreads are the core trading cost with Prodigy: the difference between the bid and ask price you pay on every trade. Tight, stable spreads on major pairs like EUR/USD, GBP/USD and USD/JPY mean lower costs for scalpers, day traders and long-term investors alike.
- Live spread table for six major currency pairs, refreshed every few seconds
- Excellent / competitive / high ratings so you can benchmark Prodigy at a glance
- Bid, ask and pip-change data to estimate your real cost per trade
Spread data is indicative and for comparison purposes only
Social Presence
Digital community engagement
Comments
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