Prospero

Review of Prospero Broker

Introductory Summary

Every trader must evaluate which broker to work with prior to placing trades. Each broker offers different features and services. The purpose of Prospero Broker is to give traders access to the financial markets by providing a platform to buy and sell. Since information about Prospero is limited, this report summarizes the important points that were collected and summarized according to best practices and industry guidelines. The following topics include: Services Provided, Trading Conditions, Regulatory Considerations, Fees and User Experience.

History

Very little information is available regarding the history of Prospero or where it has been established, or what milestones have been achieved as a result of being in business. Based on my understanding, Prospero is attempting to make trading platforms available to a wide variety of traders.

Top Level Feature Summary

Based on statistical evaluation, I can provide Probabilities that Prospero has multiple account types, will provide access to many different instruments and will offer numerous different trading platforms. Similar to other brokers in this industry, Prospero offers the following services and features, or what are commonly referred to by Brokers in this sector as:

- A real time view of the market (including multiple asset classes); thus allowing the trader immediate access to their trading accounts and open positions.

- Access to multiple classes of trading (FOREX, indices, commodities, equities).

- Availability of the trading platforms through multiple means (Desktop, Internet/Mobile).

- Extensive analytical tools and resources for educational purposes, as well as an abundance of

customer support.

Regulatory Compliance and Licensing

If customers are concerned with the safety of their funds, it would be wise for all traders to be aware of the regulatory oversight of a given broker. Currently there is no publicly available regulatory information available on the licensing status for Prospero, so we strongly encourage all traders to independently confirm their licensing status with the broker.

Licensing: Regulator - License # - Status

Limited Information - - -

Trading Conditions/Technology Used on the Trading Platforms

At this time, trading conditions for Prospero have not been clearly stated; however, as with other brokers within the Sector, we have collected data that suggests that typical ranges of trading conditions for Prospero may be approximately:

- Spreads: Usually variable (either “fixed” or floating”) = from 0 pips and upward, depending on type of trading account, and various different types of instruments being traded (e.g., Forex, Gold, Oil, Equities, etc.).

- Leverage: Up to - 1:500 (regulated as per local currency); thus this leverage is subject to all local regulatory authority.

- Minimum Deposit: $100 (plus variable).

Trading Platforms - Prospero Brokers will typically utilize the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, therefore you can expect both PC and Mobile support. Generally, if available, you will also have access to numerous additional methods of trading, (i.e. Automated Trading, Advanced Charting, and Real-time Order Execution).

Fee Structure

There is no information available on the fee structure of Prospero; however, generally the typical fees incurred by other brokers in this sector include:

- Deposit: None (On Most); based on the method you will deposit.

- Withdrawals: Varies; based on method used and amount.

- Commissions: Based upon an individual’s type of account starting at $0.00 per Lot and higher for larger accounts.

- Spreads: Variable; included in trade costs.

User Experience/Reputation in the Market

Due to the limited market awareness of Prospero, its current reputation is not high, however customers usually want to experience:

- Customer support that is responsive and offers prompt support when needed.

- Reliable platform.

- Transparency in communication.

In order to confirm a brokerage’s level of credibility, it is recommended for interested clients to complete due diligence and verify all customer reviews/testimonials by independent verification.

Recent Developments for Prospero

As of this time, no announcements regarding the news or product announcements have been made by Prospero since the writing of this article. All potential traders who may be using this company should continue to monitor any future product releases or announcements through two methods: first through the company’s website; second, any other credible sources of financial news.

Conclusion

To summarize, even though Prospero is classified as one of many trading brokerages within the Financial Industry, based upon the current limited available public information regarding the actual level of Regulatory Compliance and Licensing, as well as regarding the Fee Structure and overall Business Operations, it would be wise for both companies to proceed with caution in regards to the degree of confidence that both new and/or experienced traders have in the company. Therefore, it would be smart to contact the company directly to obtain the most recent information regarding the company’s Regulatory Status as well as compare Prospero to competing firms.

Conducting thorough research and exercising due diligence on any and all risks associated with trading will only increase the chances for successful trading operations.