APX Prime was established in 2021, as a forex broker registered in Saint Vincent and the Grenadines. APX Prime's corporate entity is APX Prime Limited, with its official domain registered on July 16, 2021. APX Prime offers clients a diverse range of trading tools, including CFD trading on forex currency pairs, gold, silver, indices, oil, other commodities, and cryptocurrencies.
The broker provides several types of trading accounts, including CENT, STANDARD, and ECN accounts, each with different minimum deposits, spreads, leverage, and other trading conditions. Although this variety may attract traders seeking a range of investment choices, traders should consider related terms and conditions, such as spreads, commissions, and trading fees.
Trading Accounts & Conditions
APX Prime offers three types of trading accounts: CENT, STANDARD, and ECN, each with different trading conditions. The CENT account can go up to a leverage of 1:1000 with a minimum deposit of $10; the STANDARD account can reach a leverage of 1:2000 with a minimum deposit of $15; and the ECN account has a leverage of 1:500 and a minimum deposit requirement of $300.
MT4 Trading Platform
The company utilizes the widely-recognized MetaTrader 4 (MT4) trading platform, suitable for desktop, web, and mobile devices. The MT4 platform supports multiple time frames and technical indicators, as well as features one-click trading and automated trading strategies (using EAs). Mobile trading platforms are available for Android and iOS devices, facilitating trading anywhere, anytime.
Leverage & Spreads
APX Prime offers up to a 1:2000 leverage ratio. While high leverage may result in noticeable profits, it is also accompanied by corresponding risks. Especially for inexperienced traders, excessive leverage could lead to substantial losses. The broker claims its spreads start from 0.1 pips, but the actual conditions may vary depending on account type and market conditions.
Deposit and Withdrawal Methods
APX Prime offers a variety of deposit and withdrawal methods, including local bank transfer, FasaPay, PerfectMoney, and WebMoney, allowing clients to manage their funds conveniently. The minimum deposit amount is $10, and most deposit transactions can be completed instantly. Furthermore, certain deposit methods may incur a fee of at least 1%, starting from $20. The minimum withdrawal amount is set at $15, while processing times may range between 3 to 24 hours.
Regulation & Risk
APX Prime is not regulated by any effective regulatory bodies, and trading with such unregulated brokers may involve significant risks, such as fraudulent activity, price manipulation, and insufficient investor protection. Moreover, APX Prime lacks transparency in spreads and commissions, which could make it difficult for traders to accurately assess trading costs. The company also has other shortcomings, including a lack of professional customer support channels and limited educational resources.
User Reviews
User reviews of APX Prime are mixed. On the one hand, some users praise its rapid withdrawals and response to inquiries, considering it a trustworthy broker. However, other users point out that the platform does not pay profits and may suspend customer accounts, advising to steer clear of this broker.
Summary
As a broker offering a variety of trading tools and flexible trading platforms using MT4, APX Prime still presents potential risks due to its unregulated status. The lack of transparency in spreads and commissions, absence of professional customer support channels are factors traders should carefully consider when choosing to work with APX Prime. Currently, APX Prime is marked as "Suspected Fraud" on Traderknows.
