General Information & Regulation
PrimesFX, a trading name of PrimesFX Capital, is allegedly a forex and CFD broker registered in the United Kingdom that claims to provide its clients with over 300 tradable financial instruments with leverage up to 1:500 and floating spreads from 0.0 pips on the MT5 for desktop, web and mobile trading platforms, as well as a choice of four different live account types and 24/7 customer support service. Here is the home page of this brokers official site:
As for regulation, it has been verified that PrimesFX does not fall under any valid regulations. That is why its regulatory status on WikiFX is listed as “No License” and it receives a relatively low score of 1.11/10. Please be aware of the risk.
Market Instruments
PrimesFX advertises that it offers access to more than 300 trading instruments in financial markets, including 60+ forex currency pairs, CFDs and commodities.
Account Types
Apart from demo accounts, PrimesFX claims to offer four types of live trading accounts, namely Beginner, Expert, Pro and ECN. However, the broker says nothing about the minimum initial deposit requirement to open an account.
Leverage
The leverage provided by PrimesFX is capped at 1:500. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Spreads & Commissions
PrimesFX claims that the spread starts from 0.0 pips and the forex commission is $7 round turn.
Trading Platform Available
Platforms available for trading at PrimesFX are MT5 for desktop, web and mobile. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.
Deposit & Withdrawal
From the logos shown at the foot of the home page on PrimesFXs official website, we found that this broker seems to work with a wide range of funding methods, such as Bank Transfer, credit/debit cards, Fasapay, Skrill, Neteller, WebMoney and cryptocurrencies of Bitcoin, Ethereum, etc.
Customer Support
PrimesFXs customer support can be reached by telephone: +44 1158 88 2957, email: support@Primesfx.com, send messages online to get in touch or give a callback. You can also follow this broker on social networks such as Twitter, Facebook and LinkedIn. Company address: 24 King William Street, London, England, EC4R 9AT.
Risk Warning
Online trading involves a significant level of 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 contained in this article is for general information purposes only.
