Progresive Trade

Progresive Trade is registered in Saint Vincent and the Grenadines, a jurisdiction known for minimal regulatory oversight of financial services. The broker was founded on September 16, 2022, according to official records.

As of this writing, Progresive Trade holds no recognised financial regulator licences. This absence of oversight means clients have no recourse to a regulatory ombudsman or compensation scheme in the event of a dispute.

Progresive Trade offers three account tiers: Beginner, Basic, and Independent. The Beginner account requires a $250 minimum deposit and offers a maximum leverage of 1:100, making it accessible for new traders. The Basic account requires $1,500 and provides leverage up to 1:200. The Independent account, targeted at more experienced traders, demands a $5,000 minimum and offers leverage up to 1:300.

Leverage of up to 1:300 is high and can amplify both gains and losses. Without a regulated framework, the broker's risk management practices remain unclear. Traders should be aware that such leverage levels are restricted or prohibited in many regulated jurisdictions.

The known facts do not specify the tradable instruments or trading platforms offered by Progresive Trade. Our web search did not provide clear information on the product range, which commonly includes forex, indices, commodities, and cryptocurrencies at similar brokers.

The broker's official website, as observed in search snippets, appears to focus on trading software and infrastructure rather than client-facing platform details. This lack of transparency regarding instruments and execution methods is a concern for traders evaluating the broker.

Progresive Trade’s account structure targets a broad range of deposit sizes, from beginners with $250 to independent traders with $5,000. The varying leverage levels suggest different risk appetites are catered to.

However, the absence of regulatory protection and limited public information makes this broker suitable only for traders who fully understand the risks of unregulated entities and are comfortable with a lack of external oversight. The broker does not appear to be aimed at institutional or high-volume traders, given the lack of ECN or professional account options in the known facts.

The FXCanary Scam Risk Score for Progresive Trade is 58 out of 100, categorised as Elevated. This score reflects the lack of regulation, short operational history (since 2022), and limited independently verifiable information.

Traders should conduct thorough due diligence before committing funds. The broker's registration in Saint Vincent and the Grenadines offers no investor protection, and the absence of regulated status is a significant red flag. We recommend considering only regulated brokers with a proven track record.