What is APX Prime？
APX Prime is a forex brokerage firm established in 2021, with its registration in Kingstown, Saint Vincent and the Grenadines, and headquartered in Malaysia. The broker offers forex trading services through its website, primarily utilizing the MetaTrader 4 (MT4) platform, which is compatible with both desktop and mobile devices. APX Prime is dedicated to providing its clients with flexible and diverse trading conditions. This brokerage offers a variety of trading products, including forex currency pairs and Contracts for Difference (CFDs), and supports multiple methods for deposits and withdrawals.
Is APX Prime a legit broker?
APX Prime claims to be registered in Saint Vincent and the Grenadines and to hold a regulatory license from the National Futures Association (NFA) in the United States, with a license number of 0557158. However, it's important to note that APX Prime is actually not a member of the NFA, and it is not regulated by them either. Importantly, while APX Prime is registered with the SVG FSA, the SVG FSA does not regulate forex trading. Being an unregulated broker, trading with APX Prime may involve several risks. These risks include, but are not limited to, potential fraudulent activities, improper handling of funds, and a lack of effective legal protection and recourse in the event of disputes or conflicts. Therefore, traders should exercise caution when considering a partnership with APX Prime and thoroughly assess the associated risks.
Account types：
APX Prime aims to provide customized trading solutions for investors of all types, from beginners to experienced traders. APX Prime offers three different account types to cater to the needs of varying trading strategies and capital levels.
CENTS Account:
- Minimum Deposit: $10
- Leverage Ratio: Up to 1:1000
- Commission: None
- Maximum Order Volume: 150 lots
- Floating Spreads: Starting from as low as 1.7 pips
- Currency Pairs Available: 28
- Trading Platform: MT4
STANDARD Account:
- Minimum Deposit: $15
- Leverage Ratio: Up to 1:2000
- Commission: None
- Maximum Order Volume: 50 lots
- Floating Spreads: Starting from as low as 1.3 pips
- Currency Pairs Available: 35
- Trading Platform: MT4
ECN Account:
- Minimum Deposit: $300
- Leverage Ratio: Up to 1:500
- Commission: $8 per lot
- Maximum Order Volume: 50 lots
- Floating Spreads: Starting from 0 pips
- Currency Pairs Available: 35
- Trading Platform: MT4
What is the minimum deposit for APX Prime?
APX Prime offers a variety of account types, each with its own minimum deposit requirement:
- CENTS Account: The minimum deposit is $10.
- STANDARD Account: The minimum deposit is $15.
- ECN Account: The minimum deposit is $300.
APX Prime login：
To open an account with APX Prime, you can follow these steps:
- Visit the official website of APX Prime: Locate the account opening page through their official website.
- Choose the type of account: Select an appropriate account type based on your personal trading needs and strategies.
- Submit the application form: Fill out and submit the required account opening form, which may include personal information, trading experience, etc.
- Upload necessary documents: You may need to upload documents such as proof of identity and proof of address.
- Wait for approval: After submitting your application, APX Prime will review it.
- Activate your account: Once your account is approved, you can begin trading.
Deposit and Withdrawal Methods：
Deposit Methods: APX Prime accepts various deposit methods, including local bank transfers and electronic payment methods. Specific deposit options include local bank transfers and digital payment platforms such as FasaPay, Perfect Money, Coinbase, WebMoney, and others. There are no fees for deposits, and the minimum deposit amount varies depending on the account type, generally being $10 or $20. The processing time for most deposit methods is instant.
Withdrawal Methods: The withdrawal methods at APX Prime are similar to the deposit methods, including local bank transfers and electronic payment methods. The minimum amount for withdrawals is typically $15, and different withdrawal methods may have varying fees and processing times. For instance, the fee for local bank transfers is $15, and the processing time ranges from 3 to 24 hours.
How do I withdraw from APX Prime?deposit bonus
Customers need to log in to the APX Prime client backend to make deposits and withdrawals. All withdrawal requests are immediately reflected in the customer's trading account as pending status upon submission, and the relevant amount is deducted from the MT4 account.
Note: All deposit and withdrawal transactions must comply with Anti-Money Laundering (AML) internal control regulations. Moreover, if a customer deposits funds using a specific payment method, withdrawals may need to be made using the same payment method to avoid the rejection of the withdrawal request.
APX Prime deposit bonus：
APX Prime offers several deposit bonus schemes, detailed as follows:
- 100% Deposit Bonus: This is a special promotional offer that provides customers with a bonus equal to 100% of their deposit amount. This means if a customer deposits a certain amount, they will receive an equivalent bonus.
- Loyalty Bonus: This bonus scheme is designed to reward loyal customers. Specific details may include requirements regarding the customer's trading frequency or account balance.
These promotional activities may come with specific terms and conditions, such as restrictions on the use of bonuses, expiration dates, or required trading volumes. Investors should understand and comply with these conditions before participating.
Trading Software：
APX Prime is a brokerage that offers foreign exchange trading services, using MetaTrader 4 (MT4) as its primary trading platform. APX Prime provides access to over 30 foreign exchange currency pairs, as well as Contracts for Difference (CFDs) for individual investment and trading options.
APX Prime MT4 Trading Software:
- Software Features: The APX Prime MetaTrader Terminal 4.0 is a trading software developed by MetaQuotes Ltd. It is a free foreign exchange trading software, widely regarded as one of the most popular forex trading platforms in the world. This software offers powerful trading and analytical capabilities, enabling users to conduct effective trading and real-time market analysis in the forex market.
- Downloading and Installing: Clients can download MT4 from the APX Prime account backend. The download steps include logging into the APX Prime client backend, clicking on the "Download" option in the trader menu, and then selecting the "New Download" option for the "APX MT4 Desktop Terminal".
Trading products：
APX Prime offers its clients a diverse range of trading tools, including Contracts for Difference (CFDs) on foreign exchange pairs, gold, silver, stock indices, oil, other commodities, and cryptocurrencies. The trading instruments offered by APX Prime include, but are not limited to:
- Forex Currency Pairs: APX Prime provides trading in over 35 forex currency pairs.
- Gold CFDs: Allows traders to speculate on the price movements of gold without the need to physically hold the precious metal.
- Silver CFDs: Enables traders to trade the price movements of silver without owning the physical silver.
- Stock Index CFDs: Offers trading in various stock indices, allowing traders to speculate on the performance of a basket of stocks representing a specific market or sector.
- Oil CFDs: Allows traders to trade oil price movements without owning the underlying commodity.
- Other Commodity CFDs: Includes the trading of possible agricultural products, metals, or energy commodities.
It is important to note that APX Prime is not regulated by any effective regulatory body. Trading with such unregulated brokers may involve significant risks, such as fraudulent activities, price manipulation, and insufficient investor protection. Therefore, traders should carefully consider these risks when choosing to work with APX Prime.
Leverage:
APX Prime offers different types of trading accounts, including CENT, STANDARD, and ECN accounts, each with varying leverage ratios. The CENT account offers a maximum leverage of 1:1000, suitable for a minimum deposit of $10. The STANDARD account has a maximum leverage of 1:2000, requiring a minimum deposit of $15. The ECN account's leverage ratio is 1:500, with a required minimum deposit of $300. While high leverage can lead to greater profits, it also comes with corresponding risks, especially for inexperienced traders. Excessive leverage can result in significant losses. Therefore, traders should carefully consider their risk tolerance when choosing a leverage ratio.
Spreads:
APX Prime offers its clients three types of trading accounts, each with different spreads. The CENT account has a variable spread, starting from a minimum of 1.7 pips. The STANDARD account also offers variable spreads, but with a minimum starting at 1.3 pips. The ECN account provides even more competitive variable spreads, starting from 0 pips. These floating spreads vary according to market conditions, providing flexible trading options for different types of traders.
APX Prime claims to offer low spreads starting from 0.1 pips, but the specific spreads can vary depending on the account type and market conditions. When choosing a trading account, traders should consider their trading strategies and risk tolerance, as well as whether they are comfortable with the corresponding spreads and leverage levels.
Related Reviews：
As a forex broker, APX Prime has received various user reviews. Here are some key user evaluations:
- Lack of Effective Regulation: APX Prime is not regulated by any effective regulatory body, posing significant risks for traders. These risks can include potential fraudulent activities, price manipulation, improper handling of funds, and a lack of recourse in disputes.
- Opacity in Spreads and Commissions: APX Prime's disclosure on spreads and commissions is not transparent, making it difficult for traders to accurately assess their trading costs. This lack of transparency can adversely affect traders, as they may not fully understand the actual costs of their trades.
- Limited Customer Support and Educational Resources: APX Prime falls short in providing dedicated customer support channels and educational resources, potentially leaving traders without necessary support when needed.
- Difficulty in Deposits and Withdrawals: Some users have pointed out issues with the platform not paying out profits and suspending customer accounts, advising to steer clear of this broker.
While APX Prime offers a variety of trading tools and a flexible trading platform, its unregulated status and other negative aspects are important concerns to consider. Traders should be cautious when choosing to trade with APX Prime.
Customer Support:
APX Prime offers 24/5 customer service support, including via email and online live chat. Their customer service department can assist users with various inquiries related to accounts or the trading platform. Users can submit service request forms through the help desk on their website or use the live chat feature, which is available to all customers from Monday to Friday around the clock.
In addition, the APX Prime website provides a customer account dashboard, where users can log in and manage their accounts. The dashboard includes detailed guidance for steps such as uploading documents, changing email addresses, changing phone numbers, and changing account passwords. Users can perform these actions directly in the dashboard, ensuring their account information is timely updated and maintained.
APX Prime also offers specific service processes, such as creating trading accounts, downloading the MetaTrader 4 (MT4) trading platform, and changing trading account passwords and leverage ratios. These processes are guided by detailed steps, aimed at helping users easily manage their trading activities.
However, according to online reviews and analysis, APX Prime's customer support may have limitations, especially in terms of detailed information disclosure and educational resources. Users might need to explore and solve certain issues on their own while using APX Prime services, as the information provided officially may not be comprehensive or easy to understand.
Conclusion：
APX Prime is a forex broker established in 2021, but it is not regulated by any financial regulatory authorities, which could entail a range of risks for traders. To cater to different trading strategies and capital levels, APX Prime offers three different types of trading accounts. APX Prime provides a diverse range of trading products, including forex currency pairs and Contracts for Difference (CFDs), supports various deposit and withdrawal methods, and primarily uses the MetaTrader 4 (MT4) trading platform.
APX Prime FAQ：
Q: Is APX Prime a regulated broker?
A: No, APX Prime does not have any effective regulatory licenses. Trading with an unregulated broker carries significant risks due to the lack of oversight by regulatory bodies to ensure fair practices, financial transparency, or investor protection
Q: What financial products can I trade through APX Prime?
A: APX Prime offers a variety of trading tools, including over 35 foreign exchange currency pairs, gold, silver, stock indices, oil, other commodities, and Contracts for Difference (CFDs) for cryptocurrencies.
Q: What trading platform does APX Prime offer?
A: APX Prime provides the MetaTrader 4 (MT4) trading platform, which is available on desktop, web, and mobile versions for Android and iOS devices.
Q: What types of accounts does APX Prime offer?
A: APX Prime offers three types of trading accounts: CENTS, STANDARD, and ECN. Each account type has its characteristics, such as different spreads, leverage ratios, and minimum deposit requirements.
Q: What is the minimum deposit amount for APX Prime?
A: The minimum deposit requirement at APX Prime is $10. They accept deposits and withdrawals made through FasaPay, local bank transfers, PerfectMoney, and WebMoney.
Q: What is the maximum leverage offered by APX Prime?
A: APX Prime offers a maximum leverage ratio of up to 1:2000.
Q: What educational resources does APX Prime provide?
A: APX Prime offers its clients an economic calendar tool. This tool provides information about upcoming economic events that could impact financial markets, helping traders formulate their strategies accordingly.
