Overview of Probis

Probis is an Australian-based trading platform with a history dating back to its founding in 2009. This platform offers a diverse range of financial instruments, including Forex, Commodity CFDs, and Securities CFDs, allowing traders to engage in various aspects of the global financial markets. Prospective traders can opt for either Live Accounts, where real funds are used for trading, or Demo Accounts, which provide a risk-free environment for honing trading skills.

One of the key features of Probis is its proprietary trading platform known as PROBIS AUTON, which facilitates efficient and secure online trading. This platform supports 24-hour trading in Forex, indices, precious metals, and commodities, making it adaptable to different trading preferences and time zones. However, it's important to note that Probis's regulatory status is currently unusual, as its official regulatory status has been revoked. Therefore, traders are advised to exercise caution and thoroughly research the platform's regulatory status and oversight to ensure the safety of their investments.

Is Probis Legit？

Probis was previously regulated by the Australian Securities and Investments Commission (ASIC) under license number 338241. However, it's important to note that the regulatory status of Probis is currently abnormal, and the official regulatory status has been revoked. Traders and potential clients should exercise caution and be aware of the associated risks when considering Probis as a trading platform. It's advisable to thoroughly research and consider the regulatory status and oversight of any brokerage before engaging in trading activities to ensure the safety and security of your investments.

Pros and Cons

Probis offers diverse tradable assets, including Forex, Commodity CFDs, and Securities CFDs. Traders can choose between Live and Demo Accounts for real-money or risk-free practice trading. The platform's proprietary PROBIS AUTON trading software is user-friendly and accessible on multiple devices. However, caution is advised due to the platform's uncertain regulatory status, as its official regulatory credentials have been revoked. Commission fees lack transparency, and non-trading fees like swap interest charges can affect overall trading costs. Considering these pros and cons is crucial for potential users.

Trading Instruments

Probis offers a range of trading instruments, including FX (Forex), Commodity CFDs (Contracts for Difference), and Securities CFDs. Each of these instruments has its own specifications and trading hours.

FX (Forex) Trading: Probis provides Forex trading options with various currency pairs, including EUR/USD, USD/JPY, GBP/USD, USD/CHF, USDCAD, AUD/USD, EUR/JPY, GBP/JPY, CHF/JPY, CAD/JPY, AUD/JPY, and EUR/GBP. These pairs come with specific contract sizes, minimum fluctuations, spread values, and necessary margin requirements per lot. Trading hours for Forex pairs vary between summer and winter times, with rollover times specified.

Commodity CFD Trading: Probis also offers Commodity CFDs for trading in assets such as Spot Gold, Spot Silver, Crude Oil, Copper, Soybean, Wheat, and Corn. Each commodity has its unique contract size, minimum fluctuation, spread, and margin requirements. Trading hours for these commodities differ during summer and winter times.

Securities CFD Trading: For traders interested in securities, Probis provides CFDs on various indices, including the US 30 Index, US E-mini SPX 500 Index, US NDAQ 100 Index, UK 100 Index, SGX Japan 225 Index, and HongKong50 Index. These securities CFDs have point values, minimum fluctuations, spreads, and margin requirements per lot. Trading hours for securities CFDs are specified for both summer and winter times.

Here is a comparison table of trading instruments offered by different brokers:

Account Types

Probis offers two main types of accounts to cater to the needs of traders: Live Accounts and Demo Accounts.

Live Account: A Live Account is designed for traders who are ready to engage in real-money trading. Opening a Live Account involves depositing real funds, and traders can use this account to execute actual trades in the financial markets. Live Accounts provide access to real market conditions, and any profits or losses are reflected in the trader's account balance. These accounts offer the opportunity to experience the excitement and risks of live trading, making them suitable for both novice and experienced traders.

Demo Account: A Demo Account, on the other hand, is a risk-free and practice-oriented account type. It allows traders to hone their trading skills and test strategies without risking real capital. Demo Accounts are funded with virtual money, and traders can execute trades in a simulated market environment that mirrors real market conditions. This is an invaluable tool for beginners to learn the ropes of trading and for experienced traders to refine their strategies. It's a safe way to explore the trading platform and gain confidence before transitioning to a Live Account.

How to Open an Account

To open an account with Probis, follow these steps.

1. Visit the Probis website. Look for the “Open Live Account” button on the homepage and click on it.

1. Sign up on websites registration page.

1. Receive your personal account login from an automated email

2. Log in

3. Proceed to deposit funds to your account

4. Download the platform and start trading

Leverage

Probis offers varying levels of leverage to traders, depending on the type of financial instrument they are trading. For major currency pairs like EUR/USD and USD/JPY, the maximum leverage is 1:30. This means that traders can control a position worth up to $30 for every $1 they have in their trading account. Minor currency pairs and gold trading come with a maximum leverage of 1:20. When trading CFD products other than gold, such as commodities, the leverage is set at 1:10. For securities CFDs, which include major stock markets, the maximum leverage is 1:20, while minor stock markets offer a leverage of 1:10. Traders should exercise caution and consider their risk tolerance when using leverage, as it can amplify both profits and losses in their trades.

Here is a comparison table of maximum leverage offered by different brokers:

Spreads and Commissions (Trading Fees)

Probis provides specific details about spreads for various trading instruments. For Forex pairs, spreads typically start at 3 pips. In the case of Commodity CFDs like Spot Gold, the spread starts at 0.5 dollars per troy ounce. For Securities CFDs such as the US 30 Index, the spread begins at 5 points. These precise spread values are essential for traders to understand their trading costs accurately.

Traders should stay informed about potential changes through the platform's notifications. Please note that commission details are not provided on the website and should be obtained from Probis' customer service.

Non-Trading Fees

Probis charges non-trading fees, with one significant fee being swap interest or overnight financing charges. Swap interest arises from the difference in interest rates between two currencies in a currency pair during rollover periods.

In essence, if traders hold a position overnight in a currency pair, they may either receive or pay swap interest based on the interest rate differentials between the currencies involved. For instance, if traders buy a currency with a higher interest rate and sell a currency with a lower interest rate, they can earn interest. Conversely, if they sell a currency with a higher interest rate and buy a currency with a lower interest rate, they will incur interest charges.

For example, if the Australian Dollar has a higher interest rate compared to the Japanese Yen, and traders hold an AUD/JPY position overnight, they may earn or pay the net interest difference between these currencies. The calculation and settlement of FX swap interest occur at the market's closing.

Traders should be aware of these swap interest rates as they can impact the overall costs of holding positions overnight, affecting their trading strategies and expenses. It's advisable to check Probis for specific swap interest rates for different currency pairs.

Deposit & Withdraw Methods

Probis provides bank transfer for depositing and withdrawing funds:

Deposit:

You can deposit funds into your Probis trading account via bank wire. Domestic transfers typically take 1-2 business days, while international transfers usually take 3-5 business days. You can make deposits in either AUD or USD. Probis does not charge any fees for deposits. However, please note that international transfers to and from international banking institutions may incur intermediary or transfer fees that are independent of Probis.

Withdrawal:

To withdraw margins from your trading account, you have two options:

- Use the “withdraw margin” button within the trading platform. Fill in the withdrawal amount to complete the application.

- Contact Probis customer service by telephone. You will need to provide your login ID and service pin to complete the withdrawal application.

Trading Platforms

Probis offers the PROBIS AUTON trading platform for efficient and secure online trading. It supports 24-hour trading in forex, indices, precious metals, and commodities. The platform is available on PC, tablets, and mobile devices, ensuring flexibility for traders. It has specific system requirements, such as Microsoft .NET Framework 4.5 for the PC version and various operating systems for mobile devices. Users can download the platform from the Probis website or app stores for iOS and Android. Manuals are available for each platform version to help users navigate and make the most of their trading experience.

Customer Support

Probis offers comprehensive customer support to assist clients with their inquiries and needs. They are conveniently located in Sydney, Australia, with a registered office at Suite 11.01, Level 11, 227 Elizabeth Street, and a postal address at PO Box 20697 World Square. Clients can reach out to Probis through various communication channels. They provide telephone support at +61 2 9047 7800, allowing clients to speak directly with their team.

For specific inquiries, Probis has dedicated email addresses for different services. Clients looking for assistance with asset management can reach out to enquiries@probisgroup.com.au. If you have questions related to FX and CFD trading, you can contact cs@probisgroup.com.au. For FX and CFD account-related inquiries, you can email account@probisgroup.com.au, and margin deposit and withdrawal matters can be addressed at margin@probisgroup.com.au.

Educational Resources

Probis provides a range of educational resources to empower clients in their FX and CFD trading journey. Their educational offerings cover FX & CFD trading, trade characteristics, technical analysis, and a comprehensive glossary.

FX & CFD Trading: Probis offers educational content that helps clients understand the fundamentals of FX (foreign exchange) and CFD (contract for difference) trading. This includes insights into market dynamics, trading strategies, and risk management techniques.

Trade Characteristics: Understanding the unique characteristics of different trading instruments is crucial for success. Probis provides resources that delve into the specifics of various assets, helping traders make informed decisions.

Technical Analysis: Technical analysis is a vital tool in trading, and Probis equips clients with the knowledge and skills needed to analyze price charts, identify trends, and make data-driven trading decisions.

Glossary: The financial world comes with its own jargon and terminology. Probis offers a comprehensive glossary that defines and explains key terms, ensuring that clients can navigate the trading landscape with confidence.

Trading Tools

Probis provides traders with Economic Calendar to enhance their market analysis and decision-making. It provides traders with a professional perspective on market events, helping them understand market dynamics, stay informed about crucial economic announcements, and seize investment opportunities. This tool is instrumental in tracking economic indicators, central bank decisions, and geopolitical events that can significantly impact financial markets.

Conclusion

In conclusion, Probis offers traders access to various financial instruments, a user-friendly trading platform, and educational resources. However, its regulatory status is uncertain, which raises concerns about the safety of investments. The lack of transparency regarding commission fees and potential non-trading fees like swap interest charges can impact overall trading costs. While Probis has its advantages, including a range of tradable assets and a demo account for practice, potential users should carefully consider these drawbacks and exercise caution when choosing this platform for their trading needs.

FAQs

Q: Is Probis a regulated trading platform？

A: Probis was previously regulated by the Australian Securities and Investments Commission (ASIC), but its regulatory status is currently uncertain as the official regulatory status has been revoked.

Q: What types of trading accounts does Probis offer？

A: Probis provides two main types of accounts: Live Accounts for real-money trading and Demo Accounts for practice trading.

Q: Can I access Probis's trading platform on mobile devices？

A: Yes, Probis's trading platform, PROBIS AUTON, is available on PC, tablets, and mobile devices, offering flexibility for traders.

Q: What is the maximum leverage offered by Probis？

A: The maximum leverage varies depending on the type of financial instrument. For major currency pairs, it's 1:30, while minor currency pairs and gold trading offer 1:20. CFD products other than gold come with 1:10 leverage, and securities CFDs offer a maximum leverage of 1:20 for major stock markets and 1:10 for minor stock markets.

Q: How can I deposit and withdraw funds with Probis？

A: You can deposit funds via bank wire transfer in either AUD or USD. Withdrawals can be made using the “withdraw margin” button within the trading platform or by contacting Probis customer service.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information

What is NordFX？

NordFX is a forex broker that offers over 30 currency pairs, bitcoin, other cryptocurrencies, gold and silver for your personal investment and trading options. It was established in 2008 and is registered in Vanuatu. NordFX provides online trading platforms and free training. The MetaTrader platforms also provide automated trading and market signals. However, it currently does not have any valid regulation.

In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.

Pros & Cons

NordFX offers a wide range of financial instruments, providing traders with diverse trading opportunities. The availability of MetaTrader 4 across multiple devices enhances the convenience and accessibility of trading.

However, it is important to note that NordFX is an unregulated broker, which introduces higher risks to traders, especially regarding fund management and security. There have been reports of withdrawal issues, indicating potential challenges in this area.

NordFX Alternative Brokers

There are many alternative brokers to NordFX depending on the specific needs and preferences of the trader. Some popular options include:

• IC Markets - Best broker on the market with fast support and flawless spreads and order execution.

• Roboforex - Fast money deposit and withdrawal with similar spreads and commission for Forex and gold as other brokers but on stocks roboforex is King.

• AvaTrade - Good trading conditions overall with multiple CFD trading instruments and high number of forex pairs.

Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.

Is NordFX Safe or Scam？

NordFX does not hold any valid regulatory licenses at this stage and its Vanuatu Financial Services Commission (VFSA) license is revoked and Cyprus Securities and Exchange Commission (CYSEC, License No. 209/13) license is a suspicious clone.

It is important to note that trading with an unregulated broker can be risky as there is no guarantee that the broker will act in the best interest of the trader. Regulated brokers are required to follow strict rules and regulations which are designed to protect traders from fraudulent activities.

Market Instruments

NordFX provides a diverse range of market instruments for traders to choose from. They offer a selection of FX pairs, allowing traders to participate in the foreign exchange market and take advantage of currency fluctuations.

Additionally, NordFX provides access to trading metals, such as gold and silver, offering opportunities for investors interested in the precious metals market. Cryptocurrencies are also available for trading, allowing traders to speculate on the price movements of popular digital assets like Bitcoin, Ethereum, and more.

Furthermore, NordFX offers CFDs on indices and stocks, enabling traders to trade popular global indices and individual stocks. Lastly, oil trading is available, allowing traders to participate in the energy markets by speculating on the price of crude oil.

Accounts

NordFX provides traders with a variety of account options to suit their individual needs. They offer demo accounts, allowing traders to practice their strategies and familiarize themselves with the trading platform without risking real money.

For live trading, NordFX offers three main account types: Fix, Pro, and Zero. The Fix account has a low minimum deposit requirement of $10, making it accessible to traders with smaller capital. The Pro account requires a minimum deposit of $250 and provides additional features and benefits, such as lower spreads and access to a broader range of trading instruments. The Zero account, with a minimum deposit of $500, is designed for more advanced traders who require tight spreads and direct market access.

Leverage

NordFX offers traders competitive leverage options, allowing them to amplify their trading positions. With leverage of up to 1:1000, traders can control larger positions in the market with a smaller amount of capital. This high leverage enables traders to potentially generate higher profits from successful trades.

However, it is important to note that while leverage can magnify profits, it also increases the risk of losses. Traders should exercise caution and carefully manage their risk when utilizing high leverage.

Spreads & Commissions

NordFX offers competitive spreads and commissions across its different account types. The Fix account has a spread starting from 2 pips, making it suitable for traders who prefer fixed spreads. The Pro account offers a tighter spread starting from 0.9 pips, appealing to traders who seek lower transaction costs. However, it's important to note that the Zero account stands out with a spread starting from 0.0 pips, providing traders with the potential for better pricing and reduced trading costs.

While the Fix and Pro accounts do not charge any commissions, the Zero account requires a commission of 0.0035% per trade on each side. Traders should consider their trading preferences and strategies to choose the account type that best aligns with their needs.

Below is a comparison table about spreads and commissions charged by different brokers:

Please note that the spreads and commissions may vary depending on the specific account types and trading conditions offered by each broker. It's advisable to refer to the official websites or contact the brokers directly for the most up-to-date and accurate information.

Trading Platforms

NordFX provides traders with the popular and widely recognized MetaTrader4 (MT4) platform, available for Windows, Mac, iPhone, and Android devices. MT4 is known for its user-friendly interface, advanced charting tools, and a wide range of technical indicators and analysis tools. With MT4, traders can access real-time market data, place trades, set stop-loss and take-profit levels, and manage their positions efficiently.

The platform also supports automated trading through expert advisors (EAs), allowing traders to implement and test their own trading strategies. Additionally, NordFX offers mobile versions of MT4, enabling traders to stay connected and manage their trades on the go.

Overall, NordFX's provision of MT4 across multiple devices ensures convenience, flexibility, and a seamless trading experience for its clients.

See the trading platform comparison table below:

Trading Tools

NordFX offers a range of useful trading tools designed to enhance the trading experience and provide valuable market insights. Traders can access various analysis tools, including technical analysis reports and market news updates, which can help them make informed trading decisions. The Economic Calendar feature keeps traders updated on important economic events and their potential impact on the markets. NordFX also offers Trading Signals, which provide valuable trading ideas and recommendations generated by experienced analysts.

For traders who require uninterrupted trading, NordFX offers Virtual Private Server (VPS) hosting, ensuring reliable and high-speed trading execution. Additionally, the Trader's Calculator helps traders calculate position sizes, profit/loss, and other important trading parameters. Lastly, the Currency Converter tool allows for quick and easy conversion of currencies. These trading tools provided by NordFX aim to empower traders with valuable information, analysis, and resources to support their trading strategies and decision-making processes.

Deposits & Withdrawals

NordFX offers a variety of convenient deposit and withdrawal options to cater to the diverse needs of its clients. Traders can fund their accounts using Bank Transfer, Bank Cards, Online Payment Systems, Online Exchange Services, and Internal Transfer.

Base Currencies:

USD, EUR, CNY, IDR, GBP, VND, THB, PHP

NordFX minimum deposit vs other brokers

The minimum deposit requirement is set at a low amount of $10, making it accessible for traders of different levels.

Most deposits are free of charge and processed instantly, allowing traders to quickly start trading. Withdrawals are typically processed within 1 business day, ensuring efficient access to funds. However, it's important to note that withdrawal fees may vary depending on the chosen withdrawal method.

Customer Service

NordFX places a strong emphasis on customer support and offers multiple channels for traders to get in touch with their team. Clients can utilize the online chat feature on their website for immediate assistance, or they can opt to contact NordFX through phone or email. Additionally, traders have the option to send messages online for any inquiries or concerns they may have. NordFX also maintains an active presence on various social media platforms, including Telegram, Twitter, Facebook, Instagram, YouTube, LinkedIn, and Pinterest.

Overall, NordFX's customer service is considered reliable and responsive, with various options available for traders to seek assistance.

Note: These pros and cons are subjective and may vary depending on the individual's experience with NordFX's customer service.

User Exposure on WikiFX

On our website, you can see that some reports of unable to withdraw. Traders are encouraged to carefully review the available information and consider the risks associated with trading on an unregulated platform. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.

Education

NordFX provides a range of educational resources to support traders in their journey. They offer comprehensive information and resources on various topics, including Forex trading, through their dedicated Forex section. Traders can access a glossary that helps them understand key trading terms and concepts. Additionally, NordFX has a learning center that offers educational materials, tutorials, and guides to enhance traders' knowledge and skills. They also provide useful articles that cover market analysis, trading strategies, and other relevant topics.

Conclusion

In conclusion, NordFX offers a wide range of financial instruments, competitive trading conditions, and multiple trading platforms, making it an attractive choice for traders. However, it is important to note that NordFX is an unregulated broker, which may raise concerns regarding the safety of funds and overall credibility. Traders should exercise caution and carefully evaluate the associated risks before deciding to trade with NordFX. It is recommended to conduct thorough research, seek additional information, and consider alternative regulated brokers that provide stronger regulatory oversight and investor protection.

Frequently Asked Questions (FAQs)