The Fx Prime Pro platform is promoted by the Fx Prime Group. However, an actual investigation shows that the platform has not obtained authorization and approval from the Financial Conduct Authority (FCA) in the UK. In addition, the platform's domain registration date is relatively recent, which may cause potential investors to question its credibility and security. The official website of Fx Prime Pro is: https://www.fxprimepro.com/
Corporate Background of Fx Prime Pro:
The Fx Prime Pro platform is promoted under the commercial name of Fx Prime Group, owned and operated by the Fx Prime Group. This group includes Prime Fx Ltd, which is regulated by the Financial Conduct Authority (FCA) in the UK, with a registered address at 10 Bletchley House, 1 Flowers Avenue, Ruislip, United Kingdom, HA4 8FY. The registration date is August 8, 2019. The domain establishment date of the platform is December 18, 2023.
Regulatory Information of Fx Prime Pro:
Upon inquiry, Prime FX Ltd has not been authorized and approved by the Financial Conduct Authority (FCA) in the UK. Do not deposit funds!
The query results are as follows:
Account Registration Process for Fx Prime Pro:
- Visit the Fx Prime Pro website and click the register button
- Fill out the application form
- Submit identity verification documents
- Deposit funds and start trading
Account Types at Fx Prime Pro:
PRO ACCOUNT
- Minimum Deposit: $100
- Minimum Balance: None
- Available Base Currencies: USD, EUR, GBP, ZAR
- Spreads: From 0.0 pips
- Maximum Leverage: 1:500
- Minimum Trade Size: 0.01 lots
- Commission: $2 per side for every $100,000 traded
CLASSIC ACCOUNT
- Minimum Deposit: $100
- Minimum Balance: None
- Available Base Currencies: USD, EUR, GBP, ZAR
- Spreads: From 1.6 pips
- Maximum Leverage: 1:500
- Minimum Trade Size: 0.01 lots
- Commission: Zero commission
VIP ACCOUNT
- Minimum Deposit: None
- Minimum Balance: $50,000
- Available Base Currencies: USD, EUR, GBP, ZAR
- Spreads: From 0.0 pips
- Maximum Leverage: 1:500
- Minimum Trade Size: 0.01 lots
- Commission: $1 per side for every $100,000 traded
Trading Software of Fx Prime Pro:
Fx Prime Pro provides the MetaTrader 5 (MT5) platform. MetaTrader 5 (MT5) is a popular trading system known for its powerful features and flexibility, catering to various investor needs and preferences. The MetaTrader platform offers extensive analysis tools, charts, and automated trading features, enabling traders to execute various strategies effectively.
Trading Products of Fx Prime Pro:
Fx Prime Pro offers a range of trading products, covering multiple sectors including forex, stock indices, commodities, bonds, cryptocurrencies, and stocks, aiming to meet the needs of different investors.
- Forex Trading: Fx Prime Pro provides trading for various currency pairs, including major pairs (such as EUR/USD, GBP/USD, USD/JPY), minor pairs, and some exotic pairs. Investors can trade on the fluctuations of exchange rates between different currencies to profit in the market.
- Stock Indices: Fx Prime Pro offers trading on major global stock indices, including but not limited to the S&P 500, Dow Jones Industrial Average, NASDAQ Composite, FTSE 100, etc.
- Commodities: Commodities trading is another important area for Fx Prime Pro. The platform provides CFDs (Contracts for Difference) on various commodities, including precious metals (such as gold, silver), energy products (such as oil, natural gas), and agricultural products (such as wheat, corn).
- Bonds: Fx Prime Pro also offers trading products in the bond market. Investors can trade various government and corporate bonds on the platform.
- Cryptocurrencies: With the rapid development of the digital currency market, Fx Prime Pro also provides cryptocurrency trading. The platform supports trading for various mainstream cryptocurrencies such as Bitcoin, Ethereum, Litecoin, etc.
- Stocks: Fx Prime Pro offers stock trading in major global markets. Investors can choose to trade stocks from leading companies across various industries and sectors.
What are the spreads, leverage, and commissions at Fx Prime Pro?
Fx Prime Pro offers three types of accounts, each with different spreads, leverage, and commissions. The PRO ACCOUNT and VIP ACCOUNT have spreads starting from 0.0 pips, while the CLASSIC ACCOUNT has spreads starting from 1.6 pips. All accounts have a maximum leverage of 1:500. In terms of commission, the PRO ACCOUNT charges $2 per side for every $100,000 traded, the VIP ACCOUNT charges $1 per side for every $100,000 traded, and the CLASSIC ACCOUNT charges no commission.
Deposit and Withdrawal Methods at Fx Prime Pro:
Fx Prime Pro offers a variety of convenient deposit and withdrawal methods to meet the needs of different investors. The specific methods include:
- Bank Transfer: Direct bank transfers to ensure the security and reliability of funds.
- Cryptocurrency Payment: Supports various cryptocurrency payments, providing more diversified payment options for users.
- Credit Card and Debit Card: Accepts Visa and MasterCard credit and debit cards, which are convenient and fast.
- E-payment Platforms: Supports multiple electronic payment platforms, including Skrill, NETELLER®, STICPAY, and Tasapay, which offer quick fund transfers and lower fees.
- UnionPay: Supports China UnionPay for convenient fund access for Chinese users.
- WebMoney: A global online payment system providing a safe and convenient way for users to make payments.
Through these diverse deposit and withdrawal methods, Fx Prime Pro ensures that users can manage their funds easily and efficiently to meet different needs.
Customer Support at Fx Prime Pro:
Email:
Phone:
- +852 5808 7849
- +248 434 7072
Conclusion:
Fx Prime Pro has failed to fully disclose information on its account types, trading software, and regulatory status, requiring investors to exercise extra caution when choosing this platform. Although it offers a range of trading products and convenient deposit and withdrawal methods, these advantages are overshadowed by its regulatory deficiencies and lack of transparency. Overall, investors should comprehensively evaluate potential risks and proceed with caution when choosing Fx Prime Pro. Fx Prime Pro is listed as "Non-Regulation" on TraderKnows.
