Learn about ProbusFX Cyprus

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This company is offering three different account types. All of it depends on how much is the clients initial deposit. ProbusFX Cyprus accounts offers variable spreads that have a leverage ranging up to 1:100 and they also have lots that are micro tradeable.

The commission-free account is the Classic one and it only offers precious metals and currency pairs for trade, while on the other 2 you have more choice as they are providing energies CFDs and indices. You have to remember though that Fix API Connection is only possible on accounts that are Premium

The company, security of funds

This is a pure STP forex broker that is supporting both MetaTrader five and four platforms. It is offering trading in about 40 different currency pairs.  Also, it gives you a possibility to use CFDs on energies, indices and precious metals.

Cyprus is a well-known forex destination across the whole world, and there are some significant reasons for that. It is a jurisdiction that has strong rules and also has stern rules regarding the protection of customers.  For more info check this.

The CIFs (Cypriot Investment firms) are needed to send their transaction reports to the local watchman on a regular basis, and that is CySEC. Other than that, CIFs must have 730.000 euros at all time as a proof of their stability, and also they must keep the accounts of clients separate from the company’s funds of operation.

Get more information here: https://www.oneworldweb.net/en-us/cyprus/financial-services-structures/cyprus-investment-firms-(cif)/

CySEC uses a reparation scheme which covers a max of 20 thousand euro per person in the events of broker insolvency.

Trading Conditions

The minimum amount you have to deposit in order of opening an account is 200 dollars which is the average. Yet, there are other Cypriot brokerages that need lower deposits like XM where you can open an account for 5 dollars.

This company is offering different spreads that have an average to 1.1 pips for the euro/dollar pair on accounts that are commission-free, which is a great deal. On the other 2 accounts you have spreads that are lower but the commission fees apply.

As we said before, the leverage level goes up to 1:100. The default leverage is 1:50, which follows the newest guidelines posted from CySEC.

Trading Platforms

This broker endorses the worldwide forex platform for trading, and that is MetaTrader4, as well as MT5

Even though it’s made about 10 years ago, MT4 is still the first choice for most of the traders, and that’s because of the indicators that are custom made and the chartings that are robust. Besides that it is really easy to use but yet reliable. There are many curses you can take to learn this about this platform faster, but free online tutorials can be just fine. Read more about it here.

Conclusion

This is a relatively new brokerage that is really well regulated and it performs on 2 platforms for trading. There are no feedbacks from clients yet, but Probus claims that it is a STP broker, and it is offering competitive spreads.

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