Prospero Markets Review 2024

3 / 5
Prospero Markets is #108 in our CFD broker rankings.

Prospero Markets is a great brokerage for retail traders interested in speculating on stock markets, economies and industries from across the world on the powerful MetaTrader 4 platform.

- Daytrading Review Team

Prospero Markets was established in 2012, boasting access to more than 300 investment products under the safety of ASIC regulation. The broker also extends its services beyond Australia to the majority of the globe, allowing retail traders to access low-spread CFDs on reliable trading software.

CFDs, Forex, Metals, Energies, Stocks, Indices, VIX
PayPal, Skrill, POLi, BPAY, Debit Card, Credit Card, UnionPay, Swift

Forex Trading

Prospero Markets offers 38 forex pairs spanning majors, minors and exotics. Spreads are fairly tight on the Standard account and commissions are very competitive for VIP clients.

Stock Trading

Clients looking for equity-based investment opportunities will be pleased to see over 100 Australian company shares and 95 US stock on offer. However, Prospero Markets provides access to more economies and stock markets through its 11 indices, plus the VIX 75.

CFD Trading

Prospero Markets offers an impressive range of CFD assets, with a focus on equities, indices and futures that can be hard to find. More than 300 instruments are offered in total, with 58 of these based on futures products. CFDs can be traded with leverage up to 1:400.

✓ Pros

  • Prospero Markets is a trustworthy brand regulated by the ASIC
  • The MT4 platform and app are available to account holders
  • Trading on the volatility index (VIX) is offered
  • High leverage up to 1:400 to global traders
  • A free demo account is available

✗ Cons

  • The $500 minimum deposit is relatively high
  • There is no copy trading platform
  • Crypto is not available

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.

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.


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.

Top 3 Alternatives to Prospero Markets

Compare Prospero Markets with the top 3 similar brokers that accept traders from your location.

  1. IG – Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
    Go to IG
  2. IC Markets – IC Markets is a globally recognized forex and CFD broker known for its excellent pricing, comprehensive range of trading instruments, and premium trading technology. Founded in 2007 and headquartered in Australia, the brokerage is regulated by the ASIC, CySEC and FSA, and has attracted more than 180,000 clients from over 200 countries.
    Go to IC Markets
  3. Pepperstone – Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 400,000 clients worldwide. It offers access to 1,300+ instruments on leading platforms MT4, MT5, cTrader and TradingView, maintaining low, transparent fees. Pepperstone is also regulated by trusted authorities like the FCA, ASIC, and CySEC, ensuring a secure environment for day traders at all levels.
    Go to Pepperstone

Prospero Markets Comparison Table

Compare Prospero Markets With Similar Brokers
Prospero Markets IG IC Markets Pepperstone
Rating 3 4.4 4.8 4.8
Markets CFDs, Forex, Metals, Energies, Stocks, Indices, VIX CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting
Demo Account Yes Yes Yes Yes
Minimum Deposit A$500 $0 $200 $0
Minimum Trade 0.01 Lots 0.01 Lots 0.01 Lots 0.01 Lots
Education No Yes Yes Yes
Platforms MT4 Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade
Leverage 1:30 (Australia), 1:400 (Global) 1:30 (Retail), 1:250 (Pro) 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global) 1:30 (Retail), 1:500 (Pro)
Payment Methods 8 6 14 11
Visit Visit Visit Visit Visit
Review IG
IC 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 IG IC Markets Pepperstone
CFD Yes Yes Yes Yes
Forex Yes Yes Yes Yes
Stocks Yes Yes Yes Yes
Commodities Yes Yes Yes Yes
Oil Yes Yes Yes Yes
Gold Yes Yes Yes Yes
Copper Yes Yes No Yes
Silver Yes Yes Yes Yes
Corn Yes No Yes Yes
Crypto No Yes Yes Yes
Futures Yes Yes Yes No
Options No Yes No No
ETFs No Yes Yes Yes
Bonds No Yes Yes No
Warrants No Yes No No
Spreadbetting No Yes No Yes
Volatility Index Yes Yes Yes Yes

Prospero Markets vs Other Brokers

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


Customer Reviews

There are no customer reviews of Prospero Markets yet, will you be the first to help fellow traders decide if they should trade with Prospero Markets or not?

Submit Your Own Review of Prospero Markets

If you have experience trading with Prospero Markets please share your personal review of the broker and what you think are strong and weak points. Thank you.

Prospero Markets was established in 2012, boasting access to more than 300 investment products under the safety of ASIC regulation. The broker also extends its services beyond Australia to the majority of the globe, allowing retail traders to access low-spread CFDs on reliable trading software.