Prop Exchanges has been flagged by Financial Markets Authority for "Unregistered/Unlicensed entity offering financial products or services|Fraud ...". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
Several red flags with Prop Exchanges: (1) They promise unrealistically high returns, (2) They're not registered with Financial Markets Authority, (3) Their contact information is vague, (4) They pressure you to deposit quickly. I recommend everyone do thorough due diligence before investing with any company.
Cons: Flagged by Financial Markets Authority|Cannot verify credentials
After doing some research AFTER the fact (I know, I should have done this first), I discovered that Prop Exchanges is not authorized by any legitimate financial regulator. They are operating illegally. The website looks very professional but it's all a facade. Please check the regulatory warnings database before investing with ANY company.
Pros: Professional looking website
Cons: Lost entire investment|Reported to authorities|Unresponsive
The reporting at Prop Exchanges is laughably bad. Tax documents are inaccurate, transaction histories have gaps, and trying to export data for your accountant is a nightmare. For a financial platform, getting the numbers right should be the bare minimum.
Pros: Portfolio tracking tools|API access
Cons: Search feature is basic|Withdrawal takes 1-2 business days
The platform at Prop Exchanges is riddled with bugs. Charts display incorrect data, order confirmations sometimes fail silently, and the portfolio tracker disagrees with actual positions. After since last summer of dealing with this, I have had enough.
Pros: Demo account available|Multi-device support|Smooth onboarding|Reliable uptime
Cons: Onboarding videos are outdated
My withdrawal from Prop Exchanges was rejected three times for vague reasons. Each time they asked for more documents. When I finally provided everything, they said my account was under review. for roughly four months of being strung along.
Pros: Fast support response|Multiple order types|Low minimum deposit
Cons: Cannot customize dashboard fully|Currency conversion fee exists
After since last summer with Prop Exchanges I requested to close my account and withdraw. They said I had to complete a 30-day cooling-off period. Then they said there was a minimum holding period for my last deposit. They make it as hard as possible to leave.
Pros: No hidden fees|Easy to use platform|Portfolio tracking tools|Social trading features
Cons: Research section could be deeper|Limited cryptocurrency options
Do not be fooled by the professional-looking website. Behind the scenes, Prop Exchanges is disorganized and incompetent. I found them after a family member had a good experience and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.
Pros: Demo account available|Detailed reporting|Great customer service|Real-time alerts
Cons: Research section could be deeper|Desktop app not available on Linux
Prop Exchanges locked my account without warning and demanded documents I had already submitted. for roughly four months later I still do not have access to my funds. Their compliance team does not respond to emails. I am considering legal action.
Pros: Fast execution|Detailed reporting|No hidden fees
Cons: Limited social trading features
The mobile app from Prop Exchanges is dangerous. I placed an order that showed as pending, so I placed another. Both executed and I was overexposed. When I complained they said it was user error. The app design is misleading.
Pros: Fast execution|Real-time alerts
Cons: Account statements could be more detailed|Wish they had more educational resources