General Information & Regulation
PCM Brokers, a trading name of PCM Brokers Brokerage, is allegedly a forex and CFD broker registered in the United Arab Emirates since 2006 that claims to provide its clients with various tradable financial instruments with flexible leverage up to 1:1000 and variable spreads from 0 pips on the MT4 for Windows, mobile and Mac trading platforms, as well as a choice of ten different real account types and 24-hour customer support service. Here is the home page of this brokers official site:
As for regulation, it has been verified that PCM Brokers 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 1.59/10. Please be aware of the risk.
Market Instruments
PCM Brokers advertises that it offers access to a wide range of trading instruments in financial markets, including 58 currency pairs, commodities, CFDs, stocks, dollar index, ICLN and cryptocurrencies of Bitcoin, Ethereum, Bitnote and Leviarcoin.
Account Types
Apart from demo accounts, PCM Brokers claims to offer ten types of real trading accounts, namely Special-lowest spread, Mini, Micro, Tradition, Digital currencies, ECN Pro, Elite, Lorij1000, Zero spread and Fixed spread. The minimum initial deposit amount is $10,000 on the Special-lowest spread and Mini accounts, $100 on the Micro, ECN Pro, Zero spread and Fixed spread accounts, $1 on the Tradition account, $5000 on the Elite account, $500 on the Lorij1000 account, while there is no minimum deposit requirement on the Digital currencies account.
Leverage
Traders holding different account types can enjoy different maximum leverage ratios. For example, 1:100 on the Special-lowest spread, Tradition and Elite accounts, 1:200 on the Mini, ECN Pro, Zero spread and Fixed spread accounts, 1:500 on the Micro account, 1:10 on the Digital currencies account, 1:1000 on the Lorij1000 account. 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
PCM Brokers claims that different account types can enjoy quite different spreads and commissions. Specifically, floating spreads from 0-0.1 pips on the Special-lowest spread account, floating from 0.9 pips on the Mini account, floating from 1.6 pips on the Micro and Lorij1000 accounts, floating from 0.2 pips on the Tradition and ECN Pro accounts, floating on the Digital currencies account, floating from 0.6 pips on the Elite accounts, 0.2 pips on the Zero spread account, 2 pips of major currency pairs, 3 pips of USD/CAD and gold, 4 pips of minor on the Fixed spread account.
As for commissions, $12 per lot on the Special-lowest spread account, 0.05% of real value per lot on the Digital currencies account, $5 on the ECN Pro account, $10 per lot on the Elite, $16 per standard lot on the Zero spread account, while no commissions on the Mini, Micro, Tradition, Lorij1000 and Fixed spread account.
Trading Platform Available
Platforms available for trading at PCM Brokers are MT4 for Windows, mobile and Mac. 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
PCM Brokers says to work with numerous means of deposit and withdrawal choices, consisting of Bank Transfer, WebMoney, Bitcoin, PayPal, Skrill, Neteller, UnionPay and Fasapay. There is no minimum deposit requirement. The broker says it charges no deposit and withdrawal fees. As for the processing time of deposits and withdrawals, all deposits are said to be processed in 1 hour; the processing time of withdrawal with Bitcoin depends on the withdrawal amount, while other withdrawal requests take 1 hour.
Bonuses
PCM Brokers claims to offer various bonuses according to account conditions, such as welcome bonus, withdrawal bonus (non-lossable), tradable bonus (non-withdrawal), free bonus and super bonus.
In any case, you should be very cautious if you receive a bonus. First of all, bonuses aren't client funds, they're company funds, and fulfilling the heavy requirements that are usually attached to them can prove a very daunting and difficult task. Remember that brokers who are regulated and legitimate do not offer bonuses to their clients.
Customer Support
PCM Brokers customer support can be reached by telephone: +971 555536308, 971800223344, Fax: +97144356586, send messages online to get in touch or request a phone call. You can also follow this broker on social networks such as Twitter, Facebook, Instagram, YouTube and LinkedIn. Company address: Office No. 210, Building 4 Gold & Diamond Park Dubai, UAE.
Pros & Cons
Frequently Asked Questions
How do I change my account type？
The account type cannot be changed in the Cabin. As per the rules, the account information must remain permanently in your cabin.
What is the minimum deposit amount？
The minimum deposit amount depends on the type of account, and to open a most basic account, only $1 is what it needs.
How do I open a demo account？
To open a demo account, it is enough to fill out the desired demo account form on the “account type” page. Demo account information will be emailed to you.
What is a bonus and how is it offered？
A bonus is a special condition in which the brokerage adds money to the traders account under certain conditions. The bonus may be withdrawn or provided to the trader for trading for a period of time. Bonuses are generally divided into two categories: withdrawal bonus (non-losable), losable bonus.
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.
