Overview of Prolite Trades
Prolite Trades, an unregulated broker, based in the UK for 1-2 years, offers Forex, Metal, Indices, CFD, and Cryptocurrencies.
Account options include Standard, Silver, Premium, VIP, and Exclusive, with a minimum deposit of $200 and high leverage of 1:500. Enjoy competitive 1 pip spreads on the VertexFX platform. Practice risk-free with a demo account.
Get support via email, phone, and tickets. Deposit options include Crypto Payment, Bank Transfers, and Online Payment, while withdrawals use Bank Transfers and Bitcoin Transfers.
Regulatory Status
Prolite Trades functions as an unregulated trading platform. Traders and investors should note that the lack of regulatory supervision may introduce additional risks.
In unregulated settings, clients might have limited avenues for recourse and protection in case of disputes or unforeseen problems. Individuals contemplating Prolite Trades should be cautious and thoroughly evaluate their risk tolerance when dealing with an unregulated broker.
Pros and Cons
Pros:
Flexible Market Instruments: Prolite Trades provides a range of market instruments, including Forex, Metals, Indices, CFDs, and Cryptocurrencies, allowing traders to diversify their portfolios.
Competitive Spreads: With spreads starting from 1 pip, Prolite Trades offers competitive pricing, potentially reducing trading costs for users.
Demo Account Availability: The availability of a demo account allows users to practice and familiarize themselves with the trading platform before engaging in live trading.
Lower Spreads: Prolite Trades offers spreads starting from 1 pip, indicating highly competitive pricing and potentially reducing trading costs further for users.
Multiple Account Types: Traders can choose from Standard, Silver, Premium, VIP, and Exclusive account types, accommodating different trading preferences and capital levels.
Cons:
Unregulated Status: Prolite Trades operates without regulatory oversight, which may cause it to lack a regulatory framework ensuring transparency and accountability.
High Leverage Risk: The maximum leverage of 1:500 poses a high-risk factor for traders, potentially leading to significant losses if not managed prudently.
Limited Operational History: With only 1-2 years in operation, Prolite Trades has a relatively short operational history, which may concern traders seeking platforms with a longer track record.
Lack Of Live Chat: While Prolite Trades offers email, phone, and ticket-based customer support, the absence of live chat or other immediate assistance options may be a limitation.
Limited Withdrawal Methods: Prolite Trades provides deposit options such as Crypto Pay, Bank Transfers, and Payment, but the withdrawal methods are limited to Bank Transfers and Bitcoin Transfers, potentially limiting convenience for users.
Market Instruments
Prolite Trades offers a wide array of market instruments to accommodate the preferences and strategies of traders. These include Forex, allowing users to engage in foreign exchange trading; Metal trading for those interested in precious metals; Indices, providing exposure to various market indices; CFDs (Contracts for Difference), enabling users to speculate on price movements without owning the underlying assets, and Cryptocurrencies, offering opportunities to trade in the dynamic and growing cryptocurrency market.
The availability of these market instruments on Prolite Trades ensures a comprehensive trading experience for users seeking exposure to various financial markets.
Account Types
Prolite Trades offers various account types including Standard, Silver, Premium, VIP, and Exclusive Account.
The Standard account, requiring a minimum opening balance of $200, is suitable for traders seeking competitive spreads.
As traders advance to higher-tier accounts like Silver, Premium, VIP, and Exclusive, they benefit from progressively lower spreads, reaching as low as 1 for the Exclusive account.
The leverage across all accounts is set at an impressive 1:500, providing flexibility for traders.
Each account type comes with specific perks, ranging from limited features in the Standard account to unlimited benefits in the higher-tier accounts, allowing traders to choose an account that aligns with their trading goals.
How to Open an Account？
Opening an account with Prolite Trades is a straightforward process that can be completed online in a matter of minutes. Here's a breakdown of the steps involved:
Visit the Prolite Trades website and click “Open an Account.”
Fill out the online application form: The form will request your personal information. Be sure to have your identification documents (passport or ID card) and proof of address handy for uploading.
Verify your account: Once your account is funded, you'll need to verify your identity and address. This typically involves submitting scanned copies of your ID documents and proof of address.
Start trading: Once your account is verified, you're ready to explore the Prolite Trades trading platform and start making trades.
Leverage
Maximum leverage of 1:500 on Prolite Trades can be viewed as a potential drawback, particularly for traders who may not be familiar with or are inexperienced in managing the risks associated with high leverage. While higher leverage allows for the amplification of potential profits, it also increases the risk of significant losses.
Trading Platform
VertexFX stands out as a comprehensive trading platform, offering a user-friendly experience with its One-Click Trading Screen feature. With just a single click, users can execute various actions such as buying or selling the market, placing limits and stops, closing orders, adding Take Profit (TP) or Stop Loss (SL), canceling orders, and hedging positions.
The platform also features a Readymade Net-Trade Panel that provides a clear overview of net open positions along with essential information for each opened (Buy/Sell) Symbol. This panel streamlines the trading process, enhancing efficiency and convenience for users.
Additionally, VertexFX includes the Close By Hedge and Close All By Hedge functionalities, providing traders with strategic options to manage and optimize their positions. These features contribute to making VertexFX a versatile and powerful trading platform for users seeking a robust and efficient trading experience.
Deposit & Withdrawal
Prolite Trades offers convenient deposit and withdrawal options for its users.
For deposits, users can choose from various methods, including crypto payment, bank transfer, and online payment, each with a minimum amount of 200 USD. Crypto payments and online payments have a processing duration of 2 banking days, providing flexibility and convenience.
Deposit:
On the withdrawal side, users can opt for a bank transfer or Bitcoin transfer, with a minimum withdrawal amount of 20 USD. Bank transfers take 2 banking days to process, while Bitcoin transfers offer instant withdrawals. This ensures that users have multiple choices to manage their funds efficiently.
Withdrawal:
Customer Support
Prolite Trades provides different customer support channels to address user inquiries and concerns effectively.
Users can reach out to the support team via email at support@prolite-trade.com, ensuring a written record of communication for detailed discussions.
Additionally, users have the option to contact the support team through phone support at +19254938137, offering direct and immediate assistance for urgent matters.
The platform also utilizes a ticket system, allowing users to submit and track their support requests systematically. This multi-channel approach ensures accessibility and responsiveness.
Conclusion
In conclusion, Prolite Trades offers a range of market instruments, competitive spreads, and multiple account types, suiting different trading needs. However, its unregulated status poses a risk, and the high leverage may be challenging for some traders. While the platform boasts lower spreads, the absence of live chat and limited withdrawal methods may impact user convenience.
Traders should carefully consider these factors before choosing Prolite Trades.
FAQs
Q: How can I contact Prolite Trades customer support？
A: Prolite Trades offers various customer support channels, including email at support@prolite-trade.com, phone support at +19254938137, and a ticket system for submitting and tracking support requests.
Q: Is there a demo account available on Prolite Trades？
A: Yes, Prolite Trades provides a demo account, allowing users to explore and familiarize themselves with the trading platform without any financial risk.
Q: What deposit methods are accepted by Prolite Trades？
A: Prolite Trades supports deposit methods such as Crypto Pay, Bank Transfers, and Payment for users to fund their accounts.
Q: What withdrawal methods are available on Prolite Trades？
A: Withdrawals on Prolite Trades can be processed through Bank Transfers and Bitcoin Transfers, offering users flexibility in managing their funds.
Q: Are there specific hours for phone support on Prolite Trades？
A: Prolite Trades provides phone support, and users can contact +19254938137 for assistance during operational hours.
