Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
8/10 · CriticalNo licence in force: the Anjouan licence L 34365 / PCM ended 4 July 2024 and was not renewed. Credited that the challenge model needs no licence by design.
Identity & transparency
6/10 · HighThe entity, company number and chief executive were disclosed and match the register. The site did not disclose its Iranian user base or its link to Propiy, and the Dubai office is unconfirmed.
Withdrawals & conduct
8/10 · CriticalMore than 20 reports of payouts refused or stalled and accounts closed, clustered May to July 2025 across three platforms. No advance-fee demand reported.
Reputation
7/10 · HighPropiy scores 1.7 out of 5 from 113 Trustpilot reviews and is labelled a scam on several Persian review sites. No regulator warning.
Website claims
7/10 · HighPromised crypto payouts with no delays into 2026 while payouts on the same platform were stalled. Paired 'real capital' marketing with a demo-account disclaimer.
Operational history
7/10 · HighAbout 3.3 years of verified history (company incorporated July 2023), with a brand switch, a licence that lapsed after one year, and both sites now offline.
Who they are
A quick desk file on the company behind the brand.
- Brand: Propridge (PROPRIDGE). It was the broker and international brand behind Propiy (propiy.com), a prop firm aimed at Iranian traders.
- Legal entity: PROPRIDGE CAPITAL MARKETS, company number 34365. Its site styles it Propridge Capital Markets Limited.
- Registered: Anjouan, Union of the Comoros, care of Anjouan Corporate Services, Hamchaku. Incorporated 4 July 2023. The advertised office is the 29th Floor, Al Saqr Business Tower, Sheikh Zayed Road, Dubai. We could not confirm that a staffed office exists there.
- Website: propridge.com, registered 23 June 2023. It no longer resolves. The last archived page dates from 11 February 2026.
- Only licence: Anjouan Offshore Finance Authority licence L 34365 / PCM. It ended on 4 July 2024 and was not renewed.
- Offers: In 2023 and 2024, forex brokerage on its own MetaTrader 5 server (PropridgeCapitalMarkets-Live). In 2025 and 2026, paid prop-trading challenges for $5,000 to $50,000 accounts. These were traded on demo accounts and paid out in crypto.
- Not accepted: residents of the United States, Cuba, Iraq, Myanmar, North Korea and Sudan.
- Age claim: 'since 2023', which matches the domain and company records. Its November 2023 press release names Ali Asgari as chief executive.
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: No
We could not confirm this broker on any genuine regulator’s register.
Anjouan Offshore Finance Authority (AOFA), Autonomous Island of Anjouan, Union of the Comoros
Why we reached this verdict
How the evidence adds up.
Three separate kinds of evidence point the same way. Propridge holds no licence in force. The platform it ran has a documented payout breakdown. And its websites went dark while still promising fast payouts. None of this is an official finding, which is why the verdict is Likely Scam rather than Confirmed.
- Licence ceased. The Anjouan Offshore Finance Authority register shows licence L 34365 / PCM ended on 4 July 2024 and was not renewed. A September 2024 news item still describes Propridge's server hosting Propiy traders. propridge.com kept selling challenges until at least February 2026.
- One operation with Propiy. In July 2023, propridge.com displayed Propiy's own homepage. By 2025 it ran Propiy's software, including the 'Propiy Wallet', Persian-language support and Iranian national-ID checks. Both domains use the same registrar and the same DNS hosting account. Propridge's press release names Ali Asgari as chief executive, and a Persian review site identifies the same person as Propiy's founder.
- In-house server. Persian broker-review sites say all Propiy challenge and funded accounts ran on Propridge's server. So the firm paying the traders also controlled the price feed they traded on. Clients allege price spikes on that server.
- Payout pattern. We classed more than 20 client reports as money not coming back. They describe payouts rejected, payouts pending for one to four weeks, and accounts closed for alleged automated trading or rule breaches with no evidence shown. They describe the same failure, cluster between May and July 2025, and come from different users on three platforms. They give account sizes and waiting times but no ticket or transaction numbers.
- Collapse pattern. The complaints followed two years in which most reviews reported payouts working. Propiy's site went offline in April 2026, and propridge.com no longer resolves. We found no wind-down notice or refund plan from either brand.
- What is missing. No regulator warning, enforcement action or court record names Propridge or Propiy. No client reports a demand for an extra fee to release funds.
- The number. The six weighted scores average 7.2 out of 10, which gives 72%. The operation is about 3.3 years old (company incorporated 4 July 2023), so no young-broker adjustment applies.
Evidence ledger
Every finding, with its source and how strongly it points.
E1The Anjouan Offshore Finance Authority register lists PROPRIDGE CAPITAL MARKETS: company number 34365, licence L 34365 / PCM, incorporated 4 July 2023, licence end date 4 July 2024, status not renewed, not active. The entry is dated 28 October 2026. No licence has been in force since July 2024.
E2The company number (34365) and entity name on propridge.com match the Anjouan register, so the company behind the site is real and identifiable.
E3In July 2023, a month after propridge.com was registered, the domain displayed the homepage of the prop firm Propiy, titled 'Propiy - A New Online Prop trading'. The page included Propiy's challenge prices and a mention of its Eightcap server.
E4Propridge Capital Markets' own press release of 24 November 2023 names Ali Asgari as chief executive and lists the Dubai office and company number 34365. A Persian prop-firm review site names Ali Asgari as the founder of Propiy.
E5propridge.com and propiy.com use the same registrar (GoDaddy) and the same Cloudflare nameserver pair, which points to one hosting account. propiy.com was registered on 27 June 2022 and propridge.com on 23 June 2023.
ModerateVerisign RDAPE6The 2025-2026 propridge.com web app is Propiy's platform under the Propridge name. It includes a 'Propiy Wallet', Persian-language support, checks against Iran's national-ID system, and a notice about sanctioned Iranian crypto exchanges. The payout system Propiy clients complain about is the one Propridge itself ran and sold challenges on.
E7In April 2024, propridge.com advertised 'Forex Brokerage Services' and offered a branded MetaTrader 5 installer for the server PropridgeCapitalMarkets-Live, with no public account-opening page. That server hosted Propiy's prop accounts, so the firm paying traders also ran their price feed. It has had no licence since July 2024.
E8A September 2024 news item on a Persian broker-review site describes Propridge Capital Markets as the broker providing a dedicated server to Propiy's traders.
Moderateiranbroker.netE9Propiy's Trustpilot page shows 1.7 out of 5 from 113 reviews and says the company's website has closed. About 20 one-star reviews dated May to July 2025 report payouts rejected, payouts pending for one to four weeks, and accounts closed. One client says they were asked to sign a statement not to press charges before a refund would be paid.
StrongTrustpilot (propiy.com)E10A Persian review of Propiy describes a liquidity crisis and unpaid profits from summer 2025. Examples include a $50,000 account with about $11,000 in profit that was blocked, and an account closed for excessive risk at a 0.7% drawdown.
Moderateiranbroker.netE11A Persian prop-firm review site (June 2026) reports withdrawals left in management review indefinitely, accounts closed for alleged automated trading, and profitable trades voided through price spikes on Propridge's servers. It states that all Propiy challenge and live accounts ran on those servers.
Moderatepropcheck.proE12On 11 February 2026, months after the payout complaints began, propridge.com still promised crypto withdrawals 'anytime you like' with 'no hidden rules, no delays'. Its homepage spoke of real capital and live accounts, while its About page said all accounts were demo accounts with fictitious funds.
E13propridge.com no longer resolves: the domain has no address records and the www name does not exist, although the registration runs to June 2028.
ModerateGoogle public DNSE14propiy.com stopped serving its site in April 2026. It showed a server error page and then a hosting company's default page.
E15Reviews from 2022 to early 2025 include clients who say they were paid, one reporting more than $10,000 withdrawn within 12 hours. Many of the five-star posts are one-line reviews from single-review accounts, clustered in October and November 2024.
E16Propridge disclosed that its challenge accounts were demo accounts with fictitious funds and that purchases were not deposits. In most jurisdictions, a firm that only sells challenges needs no broker licence.
E17IOSCO's I-SCAN database returns no regulator alerts for Propridge or Propiy.
WeakIOSCO I-SCANE18The FCA register returns no firm or warning entry for Propridge.
WeakFCA registerE19Trustpilot has no page for propridge.com, so the Propridge brand itself left no review record there.
WeakTrustpilotE20propridge.com was registered on 23 June 2023 with GoDaddy and has not been re-registered since, so the archived content from July 2023 onward belongs to the same registrant. A blank page from 2018 belongs to an earlier owner of the name.
WeakVerisign RDAPE21A sponsored article of 17 October 2023 promoted Propridge Capital Markets as a forex broker and gave no licence details.
The other side
The strongest case in this broker’s favour.
Some of this has an innocent reading, and we tested each one.
- Prop firms often refuse payouts for genuine rule breaches, such as news trading, copy trading or consistency limits. Some of the people complaining may have broken the rules.
- Propridge disclosed that challenge accounts were demo accounts with simulated funds and that fees were not deposits. In most countries, a firm that only sells challenges does not need a broker licence.
- Reviews from 2022 to early 2025 include traders who say they were paid. One reports withdrawing more than $10,000, paid within 12 hours.
- The company is real. The number on its website matches the Anjouan register, it held a licence for a year, and it named its chief executive publicly.
- The 2025 breakdown may reflect a business that ran out of money rather than a plan from the start. Its platform served Iranian users whose crypto exchanges face sanctions-related blocking, a risk the site itself warned about.
- Against that: no refund plan or explanation has surfaced, the payout complaints describe one repeated failure, and propridge.com kept promising no-delay payouts into 2026.
What would change this
What we would need to see to revise the verdict.
Any of these would move the verdict:
- A published wind-down statement or refund plan from Propridge or Propiy, with evidence that pending payouts were settled.
- A renewed Anjouan licence, or a licence from a recognised regulator, held by Propridge Capital Markets.
- Dated, independent payout confirmations from 2025 or 2026 that outweigh the complaints.
- Evidence that Propridge and Propiy had separate owners and that Propridge only rented server capacity to Propiy.
- In the other direction, a regulator warning, police case or court record naming either brand would move this to Confirmed Scam.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
Anjouan Offshore Finance Authority register: PROPRIDGE CAPITAL MARKETS
Licence L 34365 / PCM, end date 4 July 2024, status not renewed, not active
Propridge Capital Markets press release, 24 November 2023
Names Ali Asgari as chief executive and gives company number 34365
Trustpilot reviews of the sister brand Propiy
1.7 out of 5 from 113 reviews, with payout complaints from May 2025
IOSCO I-SCAN search for Propridge
No regulator alerts listed
FCA register search for Propridge
No firm or warning entry
Last archived copy of propridge.com, 11 February 2026
Shows the challenge offer and the no-delay payout promise
Frequently asked questions
Quick answers about this broker’s safety.
Is Propridge a scam?
We rate Propridge Likely Scam, with 72% risk. Its only licence lapsed in July 2024, and it ran the trading server for Propiy, whose clients reported payouts refused from May 2025. Both websites have since gone offline. No regulator has issued a finding, so this is our assessment of the evidence, not an official ruling.
Is Propridge a fraud?
We found no regulator, police force or court that has made a fraud finding against Propridge Capital Markets. We still assess the risk as high. Clients of the platform it ran describe the same payout refusals in the same months, and both websites then went offline without a refund plan.
Is Propridge regulated?
No. Its only licence, Anjouan Offshore Finance Authority licence L 34365 / PCM, ended on 4 July 2024. The register marks it not renewed and not active. Even while active, an Anjouan licence offered little supervision and no compensation scheme.
Can I withdraw my money from Propridge?
There is no working website to withdraw from. propridge.com no longer resolves, and the last archived page is from February 2026. Clients of the linked Propiy platform reported payouts rejected or left pending for weeks from May 2025.
Is my money safe with Propridge?
No. There is no licence in force, no compensation scheme and no working site. Payouts were made in crypto, which is hard to recover.
Who owns or runs Propridge?
The company is PROPRIDGE CAPITAL MARKETS, company number 34365, incorporated in Anjouan, Comoros, on 4 July 2023. Its November 2023 press release names Ali Asgari as chief executive and gives a Dubai office address. The platform itself was built for Iranian users.
What is the link between Propridge and Propiy?
They are one operation. propridge.com first displayed Propiy's homepage and later ran Propiy's software. Both domains use the same registrar and DNS hosting account. Propridge's chief executive is the person a Persian review site names as Propiy's founder, and Persian broker-review sites say all Propiy accounts ran on Propridge's server.
How old is Propridge?
The domain was registered on 23 June 2023 and the company was incorporated on 4 July 2023. That makes the operation about three years and four months old. Propiy's domain dates from June 2022. The site claimed to operate 'since 2023', which matches.
What is an Anjouan (AOFA) licence worth?
Very little. The Anjouan Offshore Finance Authority is an offshore registrar on an autonomous island of the Comoros. It issues licences with light checks and no client-money protection. Propridge's licence has also lapsed.
Is Propridge a clone of another broker?
No. We found no sign that it copied another firm's name or licence, and its company number matches the Anjouan register. The concern is its own conduct and its link to Propiy, not impersonation.
Was Propridge a broker or a prop firm?
Both. In 2023 and 2024 it advertised forex brokerage and ran its own MetaTrader 5 server, which hosted Propiy's challenge and funded accounts. From 2025 its own site sold prop challenges on demo accounts, with payouts in crypto.
What should I do if I lost money with Propridge or Propiy?
Keep every record: invoices, account numbers, payout requests, wallet addresses and support tickets. If you paid by card, ask your bank or card provider about a chargeback, and report the loss to the police in your country. Do not pay anyone who promises to recover the money for a fee.
What should I check before buying a prop-firm challenge?
Check who owns the firm, who runs its trading server, and whether that broker holds a current licence. Read the payout and rule-breach terms in full. Look for recent, dated payout proof on independent review sites, not just testimonials on the firm's own pages.
What we recommend
The practical takeaway from everything above.
Do not send money to Propridge, Propiy or any site that presents itself as their successor.
- The website is offline and the only licence has lapsed, so no regulator supervises this company.
- If you are owed a payout or refund, keep your evidence: account numbers, challenge invoices, payout requests, wallet addresses, transaction hashes and support tickets.
- If you paid by card or through a payment service, ask your bank or provider about a chargeback. Crypto payments are usually not reversible.
- Ignore 'fund recovery' services that contact you and ask for a fee upfront. They are a common follow-up scam.
- You can file a complaint with the Anjouan Offshore Finance Authority from its register page, but its powers are limited.
- Before buying any prop-firm challenge, find out who runs the trading server. Read the payout rules in full, and look for recent payout proof on independent sites.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed October 28, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.
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