What is Praxis？
PRAXIS, a globally-oriented brokerage registered in Cayman Islands while offshore operated in China, offers a diversified range of financial instruments and services including Forex trading, metals, indices, commodities, CFDs, and more. It also provides liquidity and risk management services, alongside corporate hedging. Despite its extensive array of offerings, it is important to take into account that PRAXIS operates without the oversight of any acknowledged regulatory bodies.
In our upcoming article, we will present a comprehensive and well-structured evaluation of the broker's services and offerings. We encourage interested readers to delve further into the article for valuable insights. In conclusion, we will provide a concise summary that highlights the distinct characteristics of the broker for a clear understanding.
Pros & Cons
Pros:
Diversified Instruments and Services: Praxis offers an extensive assortment of products such as Forex, metals, indices, commodities, and CFDs and a comprehensive service including risk management, liquidity management, and corporate hedging, catering to diverse client requirements.
Cons:
Unregulated: Praxis's unregulated status raises a red flag as this implies a lack of compliance with financial regulations that are designed to protect and safeguard client interests.
Lack of Transparency: The lack of clarity regarding their commission structure, trading platform, and payment methods translates into potential clients not having enough information to make informed decisions about their trading relationship with Praxis.
Is Praxis Safe or Scam？
When considering the safety of a brokerage like Praxis or any other platform, it's important to conduct thorough research and consider various factors. Here are some steps you can take to assess the credibility and safety of a brokerage:
User feedback: For a more comprehensive understanding of the brokerage, it is recommended that prospective traders investigate reviews and feedback from current clients. These valuable insights and experiences shared by users can be found on trustworthy websites and conversation forums.
Security measures: Praxis employs privacy policy as a security measure, using advanced encryption, secure servers, firewall safeguards, and strict access controls to protect and manage client data effectively.
In the end, choosing whether or not to engage in trading with Praxis is an individual decision. It is advised that you carefully balance the risks and returns before committing to any actual trading activities.
Products & Services
Praxis provides an array of financial products, from Forex trading to asset-based derivatives like metals, indices, and commodities, along with Contract for Difference (CFDs) covering a broad market sector.
They also deliver services such as liquidity management, ensuring efficient allocation and usage of funds across financial institutions and hedge funds.
Their risk management services not only offer advice for identifying potential financial risks but also provide complete risk management outsourcing.
Additionally, they craft tailored corporate hedging strategies for strategic risk diversification, beneficial for FX, metals, and equity portfolio managers to protect against volatile market conditions.
How to Open an Account？
Step 1: Visit the Praxis website.
Step 2: Click the “Register” button located on the homepage.
Step 3: You will then be required to fill in certain information such as personal details, phone, email address, etc. and choose an account type (individual or institutional).
Step 4: You will be required to submit identification documents for verification according to KYC (Know Your Customer) regulations.
Step 5: Once the broker has verified your details, you'll be able to deposit funds and start trading.
Spreads & Commissions
Praxis offers competitive spreads for Forex trading, with rates as low as 0.2 pips, providing clients an opportunity to minimize trading costs. However, the information about commission structures remains unavailable, and clients should inquire directly for complete details regarding fees and charges.
Customer Service
Praxis provides diverse customer support channels including email, physical address, phone contact, and a 'Contact Us' form, ensuring comprehensive and accessible communication routes for its clients.
Phone: +1-800-561-3599.
Address: Level 43, AIA Tower, 183, Electric Road, North Point, Hong Kong.
Registered Address: CO Services Cayman Limited, PO Box 10008, Willow House, Cricket Square, Grand Cayman, KY1-1001, Cayman Islands.
Email: sales@praxisdigitaltrading.com.
Conclusion
To conclude, Praxis is a China-based global online brokerage offering a wide range of products such as Forex, metals, indices, commodities, CFDs, and services like liquidity management, risk management, and corporate hedging. Yet, interested investors must take note of Praxis's unregulated status, which raises concerns about its commitment to regulatory compliance and client security. Therefore, prospective traders are recommended to consider other brokers that value transparency, professionalism, and adhere strictly to regulatory guidelines.
Frequently Asked Questions (FAQs)
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 provided in this review may be subject to change due to the constant updating of the company's services and policies.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
