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Praxis

Cayman Islands|2-5 years|
Suspicious Scope of Business|High potential risk|

https://praxisdigitaltrading.com/

Website

Rating Index

Contact

+1 800-561-3599
sales@praxisdigitaltrading.com
https://praxisdigitaltrading.com/
Level 43, AIA Tower, 183, Electric Road, North Point, Hong Kong

Licenses

No valid regulatory information, please be aware of the risk!

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Warning: Low score, please stay away! 2
Previous Detection : 2024-07-14
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

Praxis · WikiFX Survey

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Praxis · Company Summary

Praxis Review Summary in 10 Points
Founded 2021
Registered Country/Region China
Regulation Unregulated
Products & Services Forex, metals, indices, commodities, CFDs etc.
Liquidity management, risk management, corporate hedging
Demo Account Not Available
Leverage Not disclosed
Spread 0.2 pips
Trading Platforms Not disclosed
Minimum Deposit Not disclosed
Customer Support Email, address, phone, contact us form

What is Praxis?

PRAXIS, a globally-oriented brokerage registered in Cayman Islands while offshore operated in China, offers a diversified range of financial instruments and services including Forex trading, metals, indices, commodities, CFDs, and more. It also provides liquidity and risk management services, alongside corporate hedging. Despite its extensive array of offerings, it is important to take into account that PRAXIS operates without the oversight of any acknowledged regulatory bodies.

Praxis' homepage

In our upcoming article, we will present a comprehensive and well-structured evaluation of the broker's services and offerings. We encourage interested readers to delve further into the article for valuable insights. In conclusion, we will provide a concise summary that highlights the distinct characteristics of the broker for a clear understanding.

Pros & Cons

Pros Cons
• Diversified instruments and services • Unregulated
• Lack of transparency on commissions/trading platform/payment methods

Pros:

Diversified Instruments and Services: Praxis offers an extensive assortment of products such as Forex, metals, indices, commodities, and CFDs and a comprehensive service including risk management, liquidity management, and corporate hedging, catering to diverse client requirements.

Cons:

Unregulated: Praxis's unregulated status raises a red flag as this implies a lack of compliance with financial regulations that are designed to protect and safeguard client interests.

Lack of Transparency: The lack of clarity regarding their commission structure, trading platform, and payment methods translates into potential clients not having enough information to make informed decisions about their trading relationship with Praxis.

Is Praxis Safe or Scam?

When considering the safety of a brokerage like Praxis or any other platform, it's important to conduct thorough research and consider various factors. Here are some steps you can take to assess the credibility and safety of a brokerage:

  • Regulatory sight: Given Praxis' extensive financial operations, its lack of oversight from recognized regulatory authorities presents substantial concerns about its compliance and the security of its client's funds. This is a significant risk factor interested investors must consider.

No license
  • User feedback: For a more comprehensive understanding of the brokerage, it is recommended that prospective traders investigate reviews and feedback from current clients. These valuable insights and experiences shared by users can be found on trustworthy websites and conversation forums.

  • Security measures: Praxis employs privacy policy as a security measure, using advanced encryption, secure servers, firewall safeguards, and strict access controls to protect and manage client data effectively.

In the end, choosing whether or not to engage in trading with Praxis is an individual decision. It is advised that you carefully balance the risks and returns before committing to any actual trading activities.

Products & Services

Praxis provides an array of financial products, from Forex trading to asset-based derivatives like metals, indices, and commodities, along with Contract for Difference (CFDs) covering a broad market sector.

Products

They also deliver services such as liquidity management, ensuring efficient allocation and usage of funds across financial institutions and hedge funds.

Their risk management services not only offer advice for identifying potential financial risks but also provide complete risk management outsourcing.

Additionally, they craft tailored corporate hedging strategies for strategic risk diversification, beneficial for FX, metals, and equity portfolio managers to protect against volatile market conditions.

Services

How to Open an Account?

Step 1: Visit the Praxis website.

Step 2: Click the “Register” button located on the homepage.

Click the Register“ button

Step 3: You will then be required to fill in certain information such as personal details, phone, email address, etc. and choose an account type (individual or institutional).

fill in required info

Step 4: You will be required to submit identification documents for verification according to KYC (Know Your Customer) regulations.

Step 5: Once the broker has verified your details, you'll be able to deposit funds and start trading.

Spreads & Commissions

Praxis offers competitive spreads for Forex trading, with rates as low as 0.2 pips, providing clients an opportunity to minimize trading costs. However, the information about commission structures remains unavailable, and clients should inquire directly for complete details regarding fees and charges.

Customer Service

Praxis provides diverse customer support channels including email, physical address, phone contact, and a 'Contact Us' form, ensuring comprehensive and accessible communication routes for its clients.

Phone: +1-800-561-3599.

Address: Level 43, AIA Tower, 183, Electric Road, North Point, Hong Kong.

Registered Address: CO Services Cayman Limited, PO Box 10008, Willow House, Cricket Square, Grand Cayman, KY1-1001, Cayman Islands.

Email: sales@praxisdigitaltrading.com.

contact details

Conclusion

To conclude, Praxis is a China-based global online brokerage offering a wide range of products such as Forex, metals, indices, commodities, CFDs, and services like liquidity management, risk management, and corporate hedging. Yet, interested investors must take note of Praxis's unregulated status, which raises concerns about its commitment to regulatory compliance and client security. Therefore, prospective traders are recommended to consider other brokers that value transparency, professionalism, and adhere strictly to regulatory guidelines.

Frequently Asked Questions (FAQs)

Q 1: Is Praxis regulated?
A 1: No. The broker is currently under no valid regulations.
Q 2: Is Praxis a good broker for beginners?
A 2: No. It is not a good choice for beginners because its unregulated by any recognized bodies.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.

In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

Broker Information

Company Name

Praxis Digital Trading Group

Abbreviation

Praxis

Regulatory Status

No Regulation

Platform registered country and region

Cayman Islands

Phone of the company
  • +1 800-561-3599

Twitter

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Facebook

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Instagram

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YouTube

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Company address
  • Level 43, AIA Tower, 183, Electric Road, North Point, Hong Kong

  • CO Services Cayman Limited, PO Box 10008 Willow House, Cricket Square Grand Cayman, KY1-1001, Cayman Islands

Linkedin

--

WhatsApp

--

QQ

--

WeChat

--

Customer Service Email Address
  • sales@praxisdigitaltrading.com

Company Summary

User Reviews

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Comments

Write a review

Dsfwef
more than one year
Praxis needs to improve on notifying users about margin calls. Two of my accounts were unexpectedly closed because I wasn't informed in advance to add funds. Other brokers usually give a heads-up, but Praxis falls short in this crucial aspect.
2023-12-29 18:19
Reply
0
0
HowardLow4
more than one year
All in all, I feel very happy and lucky to be part of your company and look forward to being your partner for life in this trading business industry. Bravo!!!
2022-12-09 15:08
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