Company Summary
| Prodigy Review Summary | |
| Founded | 2023 |
| Registered Country/Region | Mauritius |
| Regulation | No regulation |
| Market Instruments | Forex, Metals, Energies, Indices, Cryptocurrencies |
| Demo Account | / |
| Leverage | Up to 1:400 |
| Spread | From 1.5 pips (Basic Account) |
| Trading Platform | MT5 |
| Minimum Deposit | / |
| Customer Support | Live chat |
| Phone: +971 42 564 300 | |
| Email: support@prodigymarkets.net | |
| Social Media: Facebook, X, Instagram, TikTok, Telegram, LinkedIn, WhasApp | |
| Regional Restrictions | Afghanistan, Cote dIvoire, Cuba, Iran, Libya, Myanmar, North Korea, Sudan, Puerto Rico, USA, Syria, and Yemen |
Prodigy Information
Prodigy Markets is a broker that is not regulated. It was created in 2023 and is based in Mauritius. It lets you trade CFDs in a lot of different markets, such currencies, commodities, energies, indices, and cryptocurrencies. There are three types of MT5 accounts available (Basic, Elite, and Pro). The maximum leverage is 1:400, there are no costs for not trading, and commissions start at $0 and go up to $10 per lot, depending on the account.
Pros and Cons
| Pros | Cons |
| Supports MT5 platform | Not regulated |
| Offers multiple asset classes | Regional restriction |
| No deposit or withdrawal fees | Wide spreads on Basic and Elite accounts |
| Live chat support | |
| Popular payment options |
Is Prodigy Legit?
Prodigy Markets is not regulated in Mauritius and does not have licenses from major financial agencies like the FCA, ASIC, or CySEC.
The domain prodigymarkets.net was first registered on October 7, 2023, and it will end on October 7, 2025. It is now closed for security reasons (clients can't remove, transfer, update, or renew), and GoDaddy hosts the name servers.
What Can I Trade on Prodigy?
Prodigy has a wide range of products, including Forex, commodities, energies, indices, and cryptocurrencies through CFDs. There are thousands of instruments that can be traded.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Metals | ✔ |
| Energies | ✔ |
| Indices | ✔ |
| Cryptocurrencies | ✔ |
| Stocks | ❌ |
| ETFs | ❌ |
Account Types
There are three categories of live trading accounts at Prodigy Markets: Basic, Elite, and Pro. All accounts use MT5, facilitate market execution, and let you use Expert Advisors (EAs). The broker also offers service 24 hours a day, five days a week, although the site doesn't clearly say anything about demo accounts or Islamic (swap-free) accounts.
| Account Type | Spread | Leverage | Commission |
| Basic | 1.5 pips | Up to 1:400 | $0 |
| Elite | 1.0 pips | Up to 1:300 | $0 |
| Pro | 0.0 – 0.03 pips | Up to 1:300 | $10 per lot |
Leverage
On its Basic account, Prodigy gives you leverage of up to 1:400. On its Elite and Pro accounts, you may get up to 1:300. High leverage can make returns bigger, but it also makes danger much higher. Leverage makes both gains and losses bigger. If you don't limit your risks properly, it might quickly drain your account.
Prodigy Fees
Compared to other companies in the same field, Prodigy's trading fees are ordinary to a little high. The Basic and Elite accounts don't charge any commissions, although their spreads are rather large. The Pro account has spreads that are almost nothing, but it charges $10 each lot.
| Account Type | Spread | Commission per Lot |
| Basic | 1.5 pips | $0 |
| Elite | 1.0 pips | $0 |
| Pro | 0.00 – 0.03 pips | $10 |
| Non-trading Fees | |
| Deposit Fee | ❌ |
| Withdrawal Fee | ❌ |
| Inactivity Fee | Applies to dormant accounts, up to $100 |
Trading Platform
| Trading Platform | Supported | Available Devices | Suitable For |
| MetaTrader 5 (MT5) | ✔ | Windows, macOS, iOS, Android | Experienced traders |
| MetaTrader 4 (MT4) | ❌ | / | Beginners |
| cTrader | ❌ | / | / |
Deposit and Withdrawal
Prodigy Markets does not charge any deposit or withdrawal fees.
| Payment Options | Supported | Fees |
| Visa | ✔ | $0 |
| Mastercard | ✔ | |
| Skrill | ✔ | |
| Stripe | ✔ | |
| Apple Pay | ✔ | |
| Google Pay | ✔ | |
| Bitcoin | ✔ |
