Overall Rating: ★☆☆☆☆ (1.2/5.0)

ProtonForex is an unregulated forex and CFD broker that operates offshore without oversight from any recognised financial authorities. Despite offering access to a variety of trading instruments, including forex, commodities, indices, and cryptocurrencies, the broker has received significant criticism for withdrawal issues, poor customer support, and lack of transparency. ProtonForex promotes high leverage and low spreads, but the absence of regulation and lack of investor protection make it a high-risk option for any trader.

This ProtonForex review will discuss the broker’s key features, regulatory status, pricing, and the reasons why it’s considered risky for traders in 2025.

Key Features

ProtonForex offers basic trading features through a proprietary platform, designed for beginner traders but lacking in the advanced tools and features professional traders demand.

• Trading Platforms:
  • Proprietary WebTrader (accessible via mobile and browser)
  • No MetaTrader 4 (MT4) or MetaTrader 5 (MT5)
• Markets Offered:
  • Forex, commodities, indices, cryptocurrencies
  • Limited instrument range
• Account Types:
  • Standard, VIP, and Islamic accounts
• Leverage:
  • Up to 1:500
• Minimum Deposit:
  • $100
• Funding Methods:
  • Credit/debit cards, wire transfers, Bitcoin, Ethereum

Regulation and Security

ProtonForex operates as an unregulated offshore broker, which raises significant concerns about the safety and security of client funds.

• No regulation from any major financial authority (FCA, CySEC, ASIC, etc.)
• Likely registered offshore in jurisdictions like Seychelles or Saint Vincent and the Grenadines
• No investor protection or compensation scheme
• No segregation of client funds
• No negative balance protection for clients
• Lack of transparency regarding ownership and operational framework

Pricing and Costs

While ProtonForex promotes low spreads and commission-free trading, it has received numerous reports of hidden fees, delayed withdrawals, and unfavourable trading conditions.

• Spreads:
  • From 1.2 pips on major forex pairs
  • Higher spreads on crypto CFDs
• Commissions:
  • Zero commission (fees are hidden within spreads)
• Deposit/Withdrawal Fees:
  • Withdrawal fees not clearly disclosed
  • Delays reported in withdrawal processing
• Inactivity Fee:
  • $30 per month after 6 months of inactivity

Educational Resources and Customer Support

ProtonForex provides minimal educational resources, and customer support has been reported as slow and unhelpful.

• Education:
  • Basic platform tutorials and trading guides
  • No advanced courses or live webinars
• Market Analysis:
  • No professional market analysis or trading signals provided
• Customer Support:
  • 24/5 live chat, email support
  • No phone support
  • Poor reputation for response time and customer service quality

Risk Management Tools

ProtonForex offers basic risk management tools but lacks the advanced features often seen with more reputable brokers.

• Stop-loss, take-profit, and trailing stop orders available
• No guaranteed stop-loss orders (GSLOs)
• No margin alerts or account monitoring tools
• No negative balance protection

Pros and Cons

Pros

• Low minimum deposit ($100)
• Supports cryptocurrency deposits
• Simple web-based platform for ease of use

Cons

• Unregulated and offshore with no legal protections
• No transparency regarding fees, ownership, or operations
• Hidden withdrawal fees and slow processing times
• No investor protection or compensation scheme
• Limited educational resources and poor customer support
• No professional-level risk management tools

Conclusion: Is ProtonForex the Right Choice?

ProtonForex is an extremely high-risk broker due to its lack of regulation, withdrawal issues, and poor reputation. While it offers basic trading features and high leverage, the absence of transparency and investor protection makes it unsuitable for serious traders. Traders looking for a secure and reliable trading environment should consider regulated brokers such as AvaTrade, Pepperstone, or IC Markets.