Prospero Markets Review 2023

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Prospero Markets is a regulated broker with tight spreads and reliable trading tools.


  • Demo account
  • MT4 integration
  • Regulatory oversight


  • No copy trading
InstrumentsCFDs, Forex, Metals, Energies, Stocks, Indices, VIX
Demo AccountYes
Min. DepositA$500
Payment Methods
Min. Trade0.01 Lots
Regulated ByASIC, SVGFSA
MetaTrader 4Yes
MetaTrader 5No
Trading CentralNo
STP AccountNo
ECN AccountYes
DMA AccountYes
MAM AccountNo
PAMM AccountNo
LAMM AccountNo
Demat AccountNo
Mobile AppsAndroid
Margin TradingYes
Volatility IndexYes
Spot TradingYes
Perpetual SwapsNo
AI / Machine LearningNo
Robo AdvisorNo
P2P TradingNo
Negative Balance ProtectionYes
VPS HostingNo
Demo CompetitionsNo
Managed AccountsNo
Market MakerNo
Auto TradingEAs
Social TradingNo
Copy TradingNo
Trade SignalsMetaTrader
Islamic AccountNo
Account Currencies
  • USD
  • AUD
Inactivity FeeA$10
Guaranteed Stop LossNo
Stock Exchanges
  • Australian Securities Exchange
  • CAC 40 Index France
  • DAX GER 40 Index
  • Dow Jones
  • FTSE UK Index
  • Hang Seng
  • Japan Exchange Group
  • Nasdaq
  • S&P 500
  • Cocoa
  • Copper
  • Corn
  • Cotton
  • Gold
  • Natural Gas
  • Oil
  • Palladium
  • Platinum
  • Silver
  • Soybeans
  • Wheat
CFD TradingGo long or short with fast order executions and tight spreads.
CFD FTSE SpreadFrom 1.27
CFD GBPUSD SpreadFrom 0.5
CFD Oil SpreadFrom 2.5
CFD Stocks SpreadNA
CFD Leverage1:30 (Australia), 1:400 (Global)
Forex TradingTrade currencies on the MT4 platform and app.
Forex GBPUSD SpreadFrom 0.5
Forex EURUSD SpreadFrom 0.1
Forex EURGBP SpreadFrom 0.5
Forex Assets38
Risk Warning – Your capital is at risk

Prospero Markets LLC is a popular broker that offers a variety of financial instruments. The firm provides a secure and user-friendly platform for individual investors and institutions to trade in forex, commodities, stocks, and indices. This review of Prospero Markets will share insights into the background of the company, as well as fees, leverage, sign-up details, plus platform and app ratings.

Key Takeaways

Company History & Overview

Founded in 2012, Prospero Markets is a financial services firm with headquarters in Melbourne, Australia, and offices in Sydney. The brokerage is regulated by the Australian Securities and Investments Commission (ASIC) and holds an Australian Financial Services Licence (AFSL) licence.

The brand provides traders in Australia with over 300 assets on the MT4 platform and app. Prospero Markets is also a reliable broker for traders worldwide via their two websites ( and, though access is prohibited in Japan, North Korea, and the United States.

Trading Platform

Prospero Markets uses MetaTrader 4. Traders can download MT4 on their desktop devices or use the web trader.

MT4 is the world’s most popular retail investing platform for forex trading. It is renowned for its Expert Advisor (EA) building service, which allows traders to make their own trading robots and indicators. MT4 also offers:

Getting Started

When you download/open the platform, there are three windows:

Placing An Order

To place an order with MT4, press the ‘New Order’ option in the toolbar at the top of the screen. A window will then pop up. Input the asset symbol, the trading volume (in lots), any stop loss or take order adjustments, any comments, and decide whether you will buy or sell. You will also need to decide between ‘Pending Order’ or ‘Market Execution’.

Prospero Markets New Order

Prospero Markets MT4 guide

Markets & Instruments

Prospero Markets provides access to a good selection of instruments, including forex, precious metals, energies, stock indices, and equity CFDs. There is also access to the VIX (Chicago Board Options Exchange’s CBOE Volatility Index), which provides additional trading opportunities.

On the downside, there are only stock trading opportunities on companies from the US and Australia. Also, cryptocurrency is not offered.

Popular instruments:

Prospero Markets Fees

Prospero Markets offers competitive fees, particularly with its VIP trading accounts.

Standard Account

For standard accounts, floating tight spreads from 0.9 pips apply. There is no commission when trading forex, metals, indices, oil, and futures CFDs. For US share CFDs, traders must pay a commission of A$0.35 per share, and for Australian share CFDs, the commission is 0.07% per side.

VIP Account

With the VIP accounts, spreads start from 0.0 pips and competitive commissions apply on most assets:

There are no commissions for index or futures trading on VIP accounts.


Swap fees apply with both account types but are not fixed and depend on the asset and the size of the position. For example, swap fees for holding overnight forex positions are based on the tomorrow-to-next-day rate, with a fixed markup in the market for the specific currency pair.

Note, you can view swap fees on the MT4 platform.


The highest leverage Prospero Markets offers to Aussie retail traders is 1:30, in line with ASIC regulations.

For global traders, the maximum rate is 1:400 (on most forex pairs and gold spot trading). Leverage on precious metals ranges from 1:50 to 1:100. For oil it’s 1:100, for copper it’s 1:50, and for all other commodities it’s 1:20. Stocks have a maximum leverage of 1:100.

Payment Methods

While using Prospero Markets, our experts found various payment methods available:

Note, traders signed up with the global entity can only use UnionPay, Tether, and Swift.

How To Make A Deposit

Traders will need to navigate the client portal, then ‘Wallet’, and select the option to add funds. You can then choose one of the deposit methods listed above, as well as the amount.

You will be taken to the appropriate web page, where you can enter the required payment details, such as card information or bank reference numbers. Once this is done, click ‘Next’ to complete the payment.


Withdrawal requests can be made via the same payment channels. However, requests can take up to five business days which is longer than many alternatives.

Fortunately, withdrawals are free of charge except for PayPal which has a 3% fee.

Mobile App

The broker does not offer a proprietary mobile trading app. However, the MetaTrader application provides all the features and functions of the desktop terminal, with smaller screen compatibility for smartphone and tablet devices. This also includes full account control, access to all order types, historical trade information, three chart types, and interactive symbols.

The MT4 mobile app can be downloaded to Android devices only.

Account Types

There are two live account options at Prospero Markets; Standard and VIP.

Standard Account

Standard accounts also come with a 1-1 account manager, daily and weekly market analysis, and a minimum deposit of 500 AUD. It is worth pointing out that this is a fairly high minimum deposit which may put off some beginners.

VIP Account

VIP accounts come with the same services, however, with VIP profiles the account managers are more involved. Traders also get VIP weekly recaps of the market and dedicated seminars.

The minimum deposit for VIP accounts is 20,000 AUD. This makes it a better fit for advanced investors and active day traders.

Note, USD is the only base currency available at Prospero Global.

How To Register For A Real Account

To register for a live account at Prospero Markets, traders will need to provide their full name, phone number, and email address. You will then be prompted to provide KYC verification, such as a passport for ID, and a bank statement issued within the last 90 days as proof of address.

After this information is provided, your application status will be emailed to you within 24 hours, so you can make a deposit and start trading online.

Demo Account

Opening a demo account with Prospero markets is simple. Enter your full name, phone number, and email address. You will then be prompted to choose the details of your paper trading account. Following this, you will be given login details to an MT4 demo account.

Demo accounts are a great way for traders to get comfortable with the broker and platform before committing their own funds. Clients can then upgrade to a live trading account.

Note, the paper trading account will expire after 30 days.

Prospero Markets Demo Account Registration

Bonuses & Promos

In line with regulations introduced by the ASIC in March 2021, Prospero Markets does not offer promotions and financial incentives. This is due to bonuses sometimes encouraging traders to take on too much risk.

Alternatively, Prospero Markets offers a range of educational tools to promote safe and successful trading. These are outlined in more detail below.

Prospero Markets Regulation

Prospero Markets is regulated by the Australian Securities & Investments Commission (ASIC), with license number 423034. For international investors, Prospero Global is regulated by St Vincent & Grenadines Financial Services Authority (SVGFSA), with registration number 533LLC2020.

Importantly, the SVGFSA does not actively regulate trading brokers, meaning entry rules and operating conditions are relaxed. The result is fewer legal protections for retail traders. For example, the maximum leverage with the global entity is much higher at 1:400.

Nonetheless, both the Australian entity and the global broker segregate client funds and offer negative balance protection.

Additional Tools

The Prospero Markets website offers a variety of educational resources. This includes an economic calendar which you can filter based on the most important economic events. There are also live updates on financial news.

Prospero Markets Economic Calendar

You can find seminars catered to different levels of trading experience, from introductory to advanced. Enrolling is free, you just need to input your name and email. Popular examples of classes include Introduction to Forex Trading: Investment Essentials, and Investment Priorities in Practice.

There are also links to financial blogs to broaden traders’ understanding of the financial markets. Good options for beginners are What is Forex? and Explore The Charm Of Trading.

Customer Support

Prospero Markets has a good customer support team with knowledgeable staff. Customer service is available 24 hours a day 5 days a week, via live chat and email. There is also a form that can be filled out on the website and sent directly to the customer service email. Prospero Markets is also on WeChat (prospero_markets_au or prospero_markets).

Opening Hours

Security & Safety

Prospero Markets is a safe broker-dealer brand with strict data privacy rules. For any disputes or complaints, customers can use the AFCA external dispute resolution scheme.

The MetaTrader 4 terminal is also secure. All personal information is transmitted between trading accounts and the platform interface with top-tier encryption and RSA digital signatures.

Prospero Markets Verdict

Prospero Markets is a reputable financial broker that offers access to popular markets on the MetaTrader 4 platform. Its global counterpart offers similar products and tools with higher leverage up to 1:400. Users also benefit from tight spreads and competitive commissions, especially with VIP trading accounts. On the downside, the $500 minimum deposit is higher than most competitors. There is also no copy trading.

Accepted Countries

Prospero Markets accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Traders can not use Prospero Markets from United States, Japan, Korea.

Compare Prospero Markets

Compare Prospero Markets with similar brokers that accept traders from your location. Among available brokers these are the most similar to Prospero Markets:

  1. InstaForex – InstaForex is a CFD broker providing access to forex, stocks, cryptocurrencies, commodities, energies, indices, and more. With competitive fees and a huge range of available assets, the brand offers safe and reliable trading.
  2. Coinexx – Coinexx is an ECN broker with 1:500 leverage, 80+ instruments and a joining bonus.
  3. IG Group – IG-US offer spread betting, CFD and Forex trading across a range of markets. They are FCA regulated, boast a great trading app and have over 47 year track record of excellence.
  4. Kwakol Markets – Kwakol offers trading on the MT4 & MT5 platforms with high leverage & copy trading.

Prospero Markets Comparison Table

Compare Prospero Markets With Similar Brokers
Prospero Markets InstaForex Coinexx IG Group Kwakol Markets
Rating 3 4.1 2.5 4.4 2.4
Markets CFDs, Forex, Metals, Energies, Stocks, Indices, VIX Forex, shares, indices, metals, oil and gas, futures, cryptos, binary options Forex, Commodities, Indices, Cryptocurrencies Forex, ETFs, CFDs, indices, shares, commodities, cryptocurrencies, options, futures, spread betting CFDs, Stocks, Indices, Commodities, Forex, Cryptos
Demo Account Yes Yes Yes Yes Yes
Minimum Deposit A$500 $/€1 0.001 BTC £250 $1
Minimum Trade 0.01 Lots 0.01 Lots 0.01 Lots 0.1 lots 0.01 Lots
Bonus 30% – 100% Welcome Bonus 100% Deposit Welcome Bonus
Education No No No Yes No
Platforms MT4 MT4, MT5 MT4, MT5 MT4, AutoChartist, TradingCentral MT4, MT5, AutoChartist
Leverage 1:30 (Australia), 1:400 (Global) 1:1000 1:500 1:30 1:1000
Payment Methods 8 9 2 6 4
Review Prospero Markets
IG Group
Kwakol Markets

Compare Trading Instruments

Compare the markets and instruments offered by Prospero Markets and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

Compare Prospero Markets Trading Instruments
Prospero Markets InstaForex Coinexx IG Group Kwakol Markets
CFD Yes Yes Yes Yes Yes
Forex Yes Yes Yes Yes Yes
Stocks Yes Yes Yes Yes Yes
Commodities Yes Yes Yes Yes Yes
Oil Yes Yes Yes Yes Yes
Gold Yes Yes Yes Yes Yes
Copper Yes Yes No Yes Yes
Silver Yes Yes Yes Yes Yes
Corn Yes No No No No
Crypto No Yes Yes Yes Yes
Futures Yes Yes No Yes No
Options No No No Yes No
ETFs No Yes No Yes No
Bonds No No No Yes No
Warrants No No No Yes No
Spreadbetting No No No Yes No
Volatility Index Yes No No Yes No

Prospero Markets vs Other Brokers

Compare Prospero Markets with any other broker by selecting the other broker below.

Prospero Markets vs


Is Prospero Markets A Safe Broker?

Prospero Markets is a secure online broker. The company holds a license from the Australian Securities & Investments Commission, provides negative balance protection, and segregates client funds at the Commonwealth Bank of Australia. The brand also has many positive reviews from other traders.

Does Prospero Markets Offer High Leverage?

The global entity offers high leverage up to 1:400. However, the Australian entity caps leverage to 1:30 in line with local regulatory restrictions. Note, trading with leverage up to 1:400 will increase your risk exposure so make sure you have a suitable money management system.

Is Prospero Markets Legit?

Yes, Prospero Markets is a legitimate brokerage offering 300+ instruments on the MetaTrader 4 terminal. The company is also registered with the ASIC, a top-tier global regulator with stringent rules for trading firms to comply with.

Does Prospero Markets Offer A Demo Account?

Yes, Prospero Markets offers a free 30-day demo account on the MT4 terminal. The paper trading profile offers risk-free trading with virtual funds and flexible leverage. Traders can sign up via the broker’s website in less than two minutes.

Does Prospero Markets Offer Reliable Customer Support?

Yes, Prospero Markets offers 24/5 customer support for all registered users. This includes a live chat service, telephone, and email. Additionally, there is an online inquiry form and an adequate FAQ section available on the broker’s official website.

Prospero Markets is a regulated broker with tight spreads and reliable trading tools.