Information about the company Promarkets
The company Promarkets has offshore origins, with a registered address at Suite 305, Griffith Corporate Centre, Kingstown, St. Vincent and the Grenadines. Interestingly, this address is common among many other brokers registered in the offshore zone of St. Vincent and the Grenadines.
The official website promarkets-ltd.org is available in Russian. The broker claims to have a license for conducting economic activities issued by the regulator FINANCIAL SERVICES AUTHORITY of the Republic of St. Vincent and the Grenadines. However, the license number is not specified anywhere, and a scan copy of this document is also missing. The contact information provided is standard: phone and email. There is no online chat on the promarkets-ltd.org website. This resource also lacks any information about who the founder of Promarkets is and since when this project has been operational.
Trading conditions of Promarkets
All major categories of trading instruments can be seen directly on the main page of the resource promarkets-ltd.org. Upon further exploration of this site, one can come across the broker’s claimed advantages.
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Official registration and possession of a license.
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Providing direct access to major markets with low commissions and market execution.
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Offering round-the-clock technical support.
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Assistance from professional analysts of Promarkets.
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Utilization of STP technology.
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Convenient personal account.
The company uses standard arguments in its favor, so it is necessary to review reviews about Promarkets to ensure the truthfulness of the claimed advantages.
The types of accounts offered by Promarkets are as follows:
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CLASSIC DEMO. No minimum deposit.
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CLASSIC LIVE. No minimum deposit.
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ECN. $10,000.
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VIP. $20,000.
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PLATINUM. $50,000.
All accounts are designed to use the MT5 trading platform. The broker also promises floating spreads for all accounts, quoting accuracy of 0.00001, and leverage up to 1:100.
Account deposit and withdrawal from Promarkets
The broker’s official website has a section dedicated to depositing and withdrawing funds. The company exclusively uses cryptocurrencies for account deposits and withdrawals. Bitcoin, Ethereum, Litecoin, USDT, Monero, Dash, NEO, ZCash, and EOS are accepted. The commission rates for deposits are 1.5%, for withdrawals – 3%, but not less than 15 USDT and not more than 300 USDT or the equivalent in other cryptocurrencies.
Conclusion
Offshore registration, questionable license, lack of information about project creators, acceptance of only cryptocurrencies for fund deposits/withdrawals, and high commissions are the main drawbacks of this company. To find out more truthful information about it, it is worth reading reviews about Promarkets and seeking advice from an independent expert.