Prospero Markets

Our Prospero Markets review provides a detailed breakdown of the platform's regulatory standing, trading costs, and operational status. This objective analysis will help you determine if Prospero Markets is a good broker for your financial goals.

Is Prospero Markets Legit and Safe?

Prospero Markets is not a safe broker to trade with, as its Australian Securities and Investments Commission (ASIC) license has been canceled and the firm is undergoing liquidation.

What Is Prospero Markets? Company Background

Prospero Markets Pty Ltd was founded in 2012 as an Australian-based brokerage providing retail over-the-counter (OTC) derivatives, primarily contracts for difference (CFDs) in margin forex, indices, and commodities. The brokerage operated normally for over a decade, attracting retail traders through its MetaTrader 4 integration and competitive spreads.

However, the company's operations came to an abrupt halt in October 2023. The Australian Federal Police (AFP) raided Prospero's offices as part of "Operation Avarus-Nightwolf," charging several former officers and responsible managers of the broker with money-laundering offenses linked to the massive Changjiang Currency Exchange syndicate. In December 2023, ASIC suspended Prospero's financial license due to its failure to lodge audited accounts. By April 11, 2024, the Federal Court of Australia ordered Prospero Markets to be wound up on just and equitable grounds, forcing the company into liquidation and shutting down all active trading operations.

Prospero Markets Regulation

Prospero Markets was previously regulated by the Australian Securities and Investments Commission (ASIC). ASIC is a Tier-1 regulatory authority known for strict oversight and rigorous compliance standards. You can check the ASIC official register to verify the operational history and cancellation details of Prospero Markets' financial license. To verify independently, search the database using the broker's former AFS license number 423034.

The table below outlines the regulatory status and investor protections associated with Prospero Markets' former operations.

As the broker's primary Tier-1 license has been canceled, clients no longer have access to standard regulatory protections outside of the ongoing liquidation proceedings.

Which Prospero Markets Entity Serves Your Region?

Historically, the specific Prospero Markets regulatory entities that served clients depended strictly on their geographic location. Australian retail clients were onboarded under the ASIC-regulated Prospero Markets Pty Ltd, while international clients were typically routed to Prospero Global, an unregulated offshore subsidiary.

This offshore vs regulated onboarding process created dramatic investor protection differences for retail traders. While ASIC clients historically benefited from strict statutory client money rules, leverage caps, and access to dispute resolution schemes, offshore clients had no legal safety net or regulatory recourse in the event of broker insolvency.

Restricted Countries

Because Prospero Markets is currently in liquidation, the broker is entirely closed and does not onboard clients from any geographic region. When the broker was operational, local regulatory limitations prevented it from serving clients in several unsupported jurisdictions.

• Restricted countries: United States, Japan, Canada, North Korea, and Iran.

Client Fund Protection

During its active years, Prospero Markets was legally bound by ASIC Client Money Reporting Rules to keep retail client deposits strictly segregated from company operational accounts. However, the regulatory suspension and subsequent liquidation proceedings resulted in all corporate and client bank accounts being frozen in November 2023.

To manage the orderly return of frozen capital, the Federal Court appointed joint and several liquidators to oversee the client fund protection process:

• Andrew Cummins, Jonathon Keenan, and Peter Krejci of BRI Ferrier were appointed as liquidators on April 10, 2024, to manage the wind-up process.
• All trading activities were halted and client open positions were closed out in November 2023 to prevent further financial exposure.
• In July 2025, the liquidators distributed approximately $18.1 million of the $19.2 million in confirmed client funds to verified account holders.
• Eligible clients who have not yet submitted their banking details have been warned to contact the liquidator or risk their funds being transferred to ASIC’s unclaimed monies pool.

Prospero Markets User Reviews and Trustpilot Rating

Prospero Markets holds no official or active company profile on Trustpilot, though a similarly named software entity at goprospero.com holds a Trustpilot rating of 3.6/5 based on approximately 11 reviews, reflecting mixed user sentiment as of June 2026. Because of this name overlap, users searching for the broker often land on this unrelated profile, which belongs to a business proposal tool rather than the brokerage itself. If you attempt to See Prospero Markets reviews on Trustpilot, you will find that the entries discuss software features rather than trading conditions.

To evaluate the actual broker's reputation, one must analyze historical user feedback from major global forex forums and court-appointed liquidator boards. This feedback shows a clear divide between the broker's past performance and its current status:

• Stable MetaTrader 4 Integration: Prior to its shutdown, retail traders frequently reported that the broker's MT4 platform offered fast execution and consistent uptime.
• Diverse CFD Asset Selection: Historical users appreciated the access to a wide variety of currency pairs, commodities, and stock indices.
• Frozen Account Balances: Recent feedback consists entirely of severe complaints regarding frozen accounts and the inability to process withdrawals since November 2023.
• Non-existent Support Channels: Users have expressed deep frustration over the complete lack of active customer support, with clients receiving no direct responses and relying solely on liquidator circulars.

Prospero Markets Account Types

Prospero Markets offered Standard and VIP ECN account options with a minimum deposit of $100 and leverage up to 1:400, but these configurations are currently inactive due to the broker's ongoing liquidation.

Prospero Markets Account Types and Minimum Deposit Requirements

To cater to different retail trading styles, the broker historically structured its services around two primary account tiers: a commission-free Standard account and a raw-spread VIP (ECN) account.

For everyday retail traders, the Standard Account served as the primary entry point, offering the following conditions:

• The minimum deposit is set at $100 (or AUD 500 historically), making the platform accessible to casual retail investors.
• Standard spreads start from 0.5 pips with zero commissions, which simplifies trading by bundling all broker costs directly into the spread markup.
• Maximum leverage reaches up to 1:400, which dramatically increases buying power but also significantly escalates capital risk.

For high-volume traders, the VIP (ECN) Account provided institutional-grade execution under a different fee schedule:

• The minimum deposit requirement is $3,000, creating a steep entry barrier aimed strictly at professional and high-net-worth investors.
• Spreads are highly competitive, starting from 0.1 pips on major currency pairs like the EUR/USD.
• Commission fees are charged at $3.50 per side ($7.00 round turn per lot), allowing active scalpers to reduce their overall transaction expenses compared to standard accounts.

In practice, the Standard account is ideal for retail beginners who prefer predictable pricing without dealing with commission mathematics. In contrast, the high $3,000 threshold of the VIP account is balanced by raw spreads, offering a much more cost-effective setup for scalpers and day traders whose strategies depend on shaving off micro-pips.

Does Prospero Markets Offer an Islamic Account?

Prospero Markets does not offer a dedicated, swap-free Islamic account option for traders of the Islamic faith. Those who require interest-free accounts to comply with Sharia law must seek alternative regulated brokers, as Prospero's historical product structure did not support swap-free configurations on overnight positions.

Prospero Markets Fees and Trading Costs

Prospero Markets offers competitive standard spreads starting at 0.5 pips, but its ECN account charges a standard round-turn commission of $7.00 per lot.

Prospero Markets Trading Fees (Spreads / Commission Fees / Swap and Overnight Fees)

Trading fees represent the direct costs associated with executing positions on the market, consisting primarily of spreads, commissions, and swap rates. Under its standard operating structure, Prospero Markets segmented its trading fees depending on the selected account type to balance costs for different trading styles:

• The Standard account has a minimum spread of 0.5 pips with zero commissions, integrating all transaction costs directly into the spread markup.
• The VIP account charges a commission of $7.00 per round-turn lot, which is highly competitive when paired with raw spreads starting from 0.1 pips.
• Overnight swap fees are charged automatically at 5:00 PM EST for any open positions, accumulating over time as the broker offers no swap-free alternatives.

For long-term position holders, swap and overnight fees are a crucial cost factor. These fees are determined by the interest rate differentials of the currency pair's component countries, combined with a small broker markup. Because Prospero Markets does not support swap-free accounts, swing traders holding trades over multiple weeks will face substantial drag on their profitability from daily interest charges.

Prospero Markets Non-Trading Fees (Inactivity Fees / Currency Conversion Fees)

Non-trading fees are the administrative charges applied by brokers outside of active trading execution, such as maintenance or inactivity costs. Prospero Markets maintained a relatively user-friendly policy regarding account administration compared to many of its industry competitors:

• No inactivity fees are levied on dormant accounts, allowing long-term investors to pause trading without incurring penalties.
• Currency conversion fees of up to 1% apply whenever the base currency of your trading account does not match the denomination of the traded CFD.

The lack of an inactivity fee is a major advantage for casual traders who may not execute trades every month. However, traders must remain mindful of currency conversion fees. If your base account currency is Australian Dollars (AUD) and you trade US-denominated instruments like Apple stock or the S&P 500, Prospero will automatically apply a conversion fee to convert the profits or losses back to your base currency.

Prospero Markets Deposits & Withdrawals (Deposit and Withdrawal Methods / Withdrawal Speed and Minimum Limits / Deposit and Withdrawal Fees / Withdrawal Issues and User Complaints)

Prospero Markets's deposit and withdrawal framework is currently entirely frozen due to the broker's ongoing liquidation, meaning standard payment processing channels are inactive.

Historically, the broker offered an accessible deposit and withdrawal framework designed to accommodate global retail traders. Accounts could be funded using several convenient payment methods, including Bank Wire Transfers, Credit/Debit cards (Visa and Mastercard), and regional electronic wallets such as Skrill, Neteller, and UnionPay. Under normal operating conditions, Prospero Markets charged $0 in deposit fees, and deposits were processed instantly for cards and e-wallets, while bank transfers took one to three business days. The minimum withdrawal limit was established at a low threshold of $20, and the broker aimed to process withdrawal requests within one to two business days without charging internal administrative fees.

However, the broker's financial collapse has resulted in severe withdrawal issues and a wave of critical user complaints. Since the regulatory freezing of accounts in November 2023, standard withdrawal channels have been completely offline. Traders are unable to log in to request funds, and all historical processing speeds are obsolete. Instead, affected clients must lodge claims through the court-appointed liquidators, BRI Ferrier. While the liquidators successfully returned $18.1 million to verified clients in mid-2025, numerous users continue to report massive hurdles, including complex documentation requirements, identity verification delays, and outstanding balances that remain locked in the legal system.

Prospero Markets Trading Platforms, Conditions & Experience

Prospero Markets offered industry-standard trading conditions and platform access through MetaTrader 4, but these services are entirely discontinued because of the broker's forced winding up.

Does Prospero Markets Support MT4, MT5 & Mobile Trading?

Prospero Markets supported the widely popular MetaTrader 4 (MT4) platform and newer MetaTrader 5 (MT5) for desktop, web, and mobile environments, though all platform connections are now offline. Because the broker relied entirely on MetaQuotes software, it did not develop or offer a proprietary trading application to its clients.

The platform architecture historical configurations included the following setups:

• Supported platforms: MetaTrader 4, MetaTrader 5, and native mobile trading applications for iOS and Android.

During its period of active operations, traders could easily download the MT4 or MT5 terminals directly from the broker's portal. These platforms provided access to advanced charting tools, interactive technical indicators, and automated trading via Expert Advisors (EAs). However, following the court-ordered liquidation, all server access has been disconnected, and clients can no longer execute trades or connect their live accounts to the MetaTrader network.

What Can You Trade on Prospero Markets? (markets and instruments)

Prospero Markets provided a diverse range of over-the-counter contracts for difference (CFDs) across forex, metals, commodities, and stock indices, but the broker did not offer cryptocurrency, bonds, or ETF trading. The asset index was tailored primarily to retail day traders and currency speculators rather than long-term diversified investors.

The specific breakdown of the broker's historical asset classes includes:

• Tradable assets: forex, precious metals, commodities, stock indices, equity CFDs, energy, and agriculture.
• Unsupported assets: cryptocurrencies, bonds, options, and exchange-traded funds (ETFs).

The core of the broker's offering was its forex catalog, which featured major, minor, and exotic currency pairs. Traders could also speculate on commodities like gold, silver, and crude oil, alongside equity indices such as the S&P 500 and the ASX 200. Unfortunately, the total absence of cryptocurrencies and physical stocks limited its appeal to modern traders looking to build a multi-asset portfolio under a single login.

Prospero Markets Leverage, Margin & Order Execution

Prospero Markets operated as a market maker offering execution speeds under 20ms and maximum leverage up to 1:400, though local regulations capped retail leverage at 1:30 for Australian clients. This variation in trading conditions depended entirely on the regulatory jurisdiction under which a client registered.

The execution and margin structure historically functioned under the following parameters:

• The maximum leverage for major currency pairs is set at 1:400 for international accounts, providing aggressive traders with substantial purchasing power.
• Australian regulatory restrictions under ASIC limit retail leverage to 1:30, dramatically lowering capital risk compared to offshore accounts.
• Order execution was primarily processed through a Market Making (MM) model under their Australian entity, meaning the broker acted as the direct counterparty to trades.
• STP market execution was utilized under its offshore subsidiary, routing retail orders to external liquidity providers to minimize broker conflict of interest.

Because Prospero acted as a market maker (MM) under its main Australian license, execution speeds were generally fast, often clocking in at under 20 milliseconds during liquid market hours. However, the market-making model inherently introduces a conflict of interest, as the broker's dealing desk theoretically profits when client accounts lose money. This contrast highlights the structural differences between Prospero's regulated domestic entity and its offshore Straight-Through Processing (STP) branch.

Prospero Markets Research Tools & Educational Resources

Prospero Markets provided basic educational resources and market analysis, but lacked the advanced, institutional-grade research tools offered by tier-1 brokerages. The broker focused on providing standard retail support rather than proprietary market intelligence systems.

The broker's historical educational and analytical suite consisted of the following elements:

• Standard MetaTrader charting features, technical indicators, and interactive analytical tools were provided to assist with basic technical analysis.
• Basic market analysis reports, periodic webinars, and video tutorials were published on the broker's website to guide novice traders through the fundamentals of trading.

While these tools were sufficient for beginners learning how to draw trendlines and read candlestick charts, intermediate and professional traders found the analytical suite severely lacking. Prospero did not provide advanced tools like sentiment indicators, proprietary copy trading networks, Autochartist integration, or deep macroeconomic databases.

How Good Is Prospero Markets Customer Support?

Prospero Markets historically offered 24/5 customer support across multiple digital channels, but all direct support infrastructure is now permanently shut down due to the ongoing liquidation. Active customer care has ceased, and the broker's communication team is no longer operational.

When the company was active, clients could contact customer support through several dedicated channels:

• Historical support channels: telephone, email, WeChat, Facebook, and LinkedIn.

Under normal conditions, Prospero's support desk was available 24 hours a day during the trading week (Monday to Friday), with support primarily delivered in English and Mandarin. Today, all corporate phone lines (+61 1300 768 888), support email addresses, and WeChat accounts are disconnected. Any individual seeking assistance regarding historical accounts or frozen balances must bypass the broker entirely and direct their inquiries to the liquidators, BRI Ferrier, who manage all communication via their official liquidation portal.

Who Is Prospero Markets Best For?

Prospero Markets was historically best suited for retail day traders seeking competitive MT4 trading, but the platform is currently not suitable for any trader due to its inactive status and ongoing liquidation.

Is Prospero Markets Good for Beginners?

Prospero Markets is not good for beginners because the platform is completely non-operational and unable to protect or process client funds. Under normal circumstances, the broker's historical $100 entry barrier and commission-free Standard account model made it highly accessible to novices looking to practice on MetaTrader. However, navigating a court-ordered liquidation is incredibly complex, and a beginner starting their trading journey requires a stable, fully functional platform with live, responsive customer support rather than legal circulars.

Is Prospero Markets Good for Scalpers and Day Traders?

Prospero Markets is not suitable for scalpers and day traders due to the complete shutdown of its execution servers and the cancellation of its high-leverage accounts. In the past, active day traders could benefit from the broker's VIP account, which paired raw ECN spreads of 0.1 pips with fast sub-20ms execution on MT4. This setup was theoretically competitive for high-frequency scalping strategies. Today, however, with the liquidation under BRI Ferrier, any attempt to trade is impossible, and scalpers must look to active raw-spread alternatives to execute their strategies.

Is Prospero Markets Good for Risk-Averse Traders?

Prospero Markets is an extremely poor choice for risk-averse traders who prioritize the preservation of capital and strict regulatory compliance. Safety-first traders depend on the absolute certainty that their capital is protected by active regulatory licenses and operational client money trusts. Prospero's historical association with police investigations, money-laundering charges, and the subsequent cancellation of its Tier-1 ASIC license represents the ultimate risk scenario for any conservative investor. With client funds frozen for months during the wind-up process, risk-averse traders must avoid this entity entirely.

Best for: None (formerly retail MT4 traders) · Less ideal for: All traders, especially risk-averse and beginner investors.

Compare Prospero Markets with Other Popular Brokers

Prospero Markets compares poorly against major industry competitors because its canceled licenses and inactive status leave it completely unviable compared to active, fully regulated brokerages.

Prospero Markets vs IC Markets

The single biggest difference between Prospero Markets and IC Markets is their operational and regulatory status, with the former currently in liquidation with a canceled license while the latter remains fully active under tier-1 regulation. Under normal operations, Prospero Markets required a higher minimum deposit of $3,000 for raw ECN spreads; IC Markets makes its Raw Spread account accessible for just $200. Furthermore, Prospero's Standard account spreads started at a wider 0.5 pips. By contrast, IC Markets offers highly competitive raw pricing averaging 0.1 pips on major currency pairs. While Prospero's retail trading servers have been completely dismantled, IC Markets offers highly stable, active execution environments on MT4, MT5, and cTrader.

Takeaway: IC Markets is the superior choice for active traders and scalpers; Prospero Markets is entirely unusable.

Prospero Markets vs Pepperstone

The primary distinction between Prospero Markets and Pepperstone is Pepperstone's robust multi-license global safety profile and operational excellence, directly contrasting with Prospero's canceled ASIC license and complete insolvency. Historically, Prospero Markets restricted retail traders with a $100 minimum deposit on its standard account; Pepperstone maintains a $0 minimum entry barrier, making it much more flexible for beginners. Prospero also lacked active copy trading integrations. Pepperstone, on the other hand, supports multiple social trading tools like DupliTrade and Myfxbook. Lastly, Prospero's defunct platform has zero market execution capacity, whereas Pepperstone offers institutional-grade speed across MT4, MT5, cTrader, and TradingView.

Takeaway: Pepperstone is the only viable choice for modern multi-platform and social traders; Prospero Markets cannot be traded.

Prospero Markets vs Vantage

The fundamental difference between Prospero Markets and Vantage lies in Vantage's active global market access and wide asset library, compared to Prospero's frozen operations and narrow historical CFD selection. While Prospero Markets did not support crypto, bond, or ETF trading, Vantage features over 1,000 diverse CFDs including active digital currencies and global stock shares. Prospero's raw VIP account required a steep $3,000 deposit. On the other hand, Vantage provides its competitive raw ECN pricing with a much lower $500 threshold. Finally, Prospero's client money accounts are tied up in liquidator distributions; Vantage remains fully compliant with ASIC and FCA client capital protection rules.

Takeaway: Vantage is the ideal choice for multi-asset CFD traders; Prospero Markets remains closed under court-ordered liquidation.

Prospero Markets Broker Quick Verdict

Our Prospero Markets review concludes that while the broker once offered highly competitive spreads on MT4, its ongoing court-ordered liquidation and canceled ASIC license make it an entirely unsafe option today. Traders must avoid this inactive entity and instead choose active, reputable, and tier-1 regulated brokerages to protect their capital from the severe risks of frozen accounts.

Editorial Transparency

Editorial Transparency: This Prospero Markets review is based on information from the official Prospero Markets website, current regulatory filings, and independent third-party sources such as Trustpilot. We cross-checked the broker's regulation and license details, account types, trading and non-trading fees, deposit and withdrawal terms, platforms, and real user feedback to ensure accuracy and objectivity. This content is for educational purposes only and does not constitute financial advice; trading CFDs carries a high risk of losing money. Last updated: June 2026.