In this section we will analyze the Proper Trade broker, is a Forex, CFDs and Cryptocurrency broker. Is Proper Trade really recommended for making an investment? Or is it better not to invest with this company? Is it a safe broker? Is a gotcha? We will help you determine it.
You might be wondering why we did a review on Proper Trade… It is because we have received some messages from clients asking about the company, and we like to think that our reviews page helps investors, providing key information about the company, we make known information that every investor should know before deciding whether or not to invest with an investment company.
We do this review and assessment, because we receive different messages and comments asking about the reliability of the company in question. ¿Are you a representative of this company? Leave a comment responding to customer concerns.
Essential information: Who does it belong to? Where is located? Is it a regulated broker?
The broker mentions being part of: B-Market Limited.
As to its location, the broker mentions being based in: London, but does not mention being regulated by the FCA (UK financial regulator) so it really doesn't make sense, if it is really UK based it should be regulated by the FCA.
If we analyze the regulation of the broker: since Proper Trade does not mention absolutely anything about being a regulated broker, we believe that it is an unregulated broker.
If now we go on to analyze account types offered by Proper Trade, we note that it does not provide information about owning different types of account.
Las platforms to operate that Proper Trade offers are: Proper Trade's own platform.
We will now analyze the different resources and aids for the trader that Proper Trade provides on its website. We believe that the resources and help provided on the website can be a point in favor of the broker.
Proper Trade provides the following aids or resources to traders or interested parties: basic explanation of the financial products that Proper Trade offers its clients, an educational section with various resources and tools, although it is all in English, news about the markets, again in English, some graphical analysis, economic calendar and not much else really ...
Other information about Proper Trade
Some more information in case you want to contact the company, or see its website for yourself.
Phone number: + 442039669160
Email address: [email protected]
>>> Valuation on Proper Trade <<
Ending with this section, in our opinion Do we believe that Proper Trade company is trustworthy? Should you invest your money with the company?
The truth is that, we believe that it is better to be cautious because: it is an unregulated company, it mentions being based in the United Kingdom, but it is not regulated by the FCA (UK financial regulator) which makes us think that perhaps the base is not really there, when looking for other valuations about the company we could not find anything, which would indicate that it is a "new" company ...
For these reasons, we believe that Proper Trade is not a recommended broker. In other words, we always recommend working only with duly regulated companies, isn't it better to have the protection of a good regulator? Is it worth the risk if there are much safer options to invest?
Update February 2020: CNMV (Spanish financial regulator) has warned about Proper Trade
You have to understand that one of the few measures that really ensure the clients' money is the regulation of the broker, that is, it is probably the most important thing in any broker; THAT IT HAS A GOOD REGULATION, DO NOT BE FOOLED. Good regulation means that there is an authority to which, in case of misunderstandings or problems, customers can complain.
What is your opinion? Have you traded with this broker? Are you a customer? Do you think our opinion is not correct? We invite you to collaborate with us and vote, you can also leave a comment on our website with your experience if you are a client of the broker.
We leave a vote open so that traders, clients and users of the broker can vote.