Best Broker

PrimeFin Review 2021

Minimum Spread :   0.07
Foundation Year :   2020
Min Deposit $ 250
Broker Trusted Point-1

There are numerous brokerage firms, but it is hard to differentiate between the fake and authentic ones. It is a common myth in the financial market that experienced firms offer better services. One of the fx brokers, PrimeFin, has successfully broker this myth. 

Though being a relatively new firm, it offers exceptional trading services, platforms and advanced trading tools. In this PrimeFin review, we will cover everything you need to know before getting started. We will wrap up the entire review by stating PrimeFin pros and cons in brief. 

PrimeFin: The best Fx Broker successfully meeting all trading objectives 

PrimeFin is one of the top brokers allowing you to speculate on more than 350 trading assets. This is a well-regulated firm registered with the Labuan financial services authority under the license number MB/20/0052. It entirely focuses on meeting all your trading objectives through its advanced trading platforms, analytical tools and astounding services. 

The broker understands the importance of knowledge in financial market trading. Therefore, it offers quality educational resources which cover all vital concepts. Moreover, it offers sundry analytical or research tools to determine accurate exit and entry points. 

Brief description of PrimeFin 

The broker paves the way for safe, advanced and affordable trading. Its unparalleled services have helped thousands of traders around the world in grabbing a massive amount. The following points contain a brief description of the firm. 

Who owns the PrimeFin? 

  • Headquarter: Unit B Lot 49, 1st Floor, Block F, Lazenda Warehouse 3 Jalan Ranca Labuan Malaysia
  • Operated by famous Caps Solutions Limited
  • Authorised by LFSA or the Labuan Financial Services Authority 
  • The license number of the broker: MB/20/0052

Is PrimeFin affordable? 

  • Offers commission-free trading
  • The minimum deposit to open trade is just $250
  • Margin offered on trade 1:40 
  • Spreads are very low: 0.03

Account types: Chose the one which fits well.

To facilitate trading, brokers offer several account types. All these accounts are segregated depending on the expertise and experience of the broker in the financial market. The features associated with each type are: 

1) Retail trading account

It has three major categories, namely gold, silver and platinum accounts.

  1. a) Silver account: For beginners 

  • Heading for funds
  • Trading offered on more than 350 products
  • Spreads as low as 0.07
  • The margin on trade 1:200
  • No withdrawal fees
  • Regular updates about market events 
  • Commission-free trading
  • Dedicated customer support team 
  • Base currencies for trading: EUR/GBP, GBP/USD, USD/CAD, USD/JPY, NZD/USD, AUD/USD, EUR/USD, USD/CHF and many others
  1. b) Gold account: For seasoned investors 

  • Heading for funds
  • Regular updates about market events 
  • Dedicated customer support team 
  • Fifth decimal
  • Trading offered on more than 350 products
  • Free VPS
  • The margin on trade 1:200 
  • No withdrawal fees
  • No deposit charges 
  • Minimum spread points 20 
  • Swap discount on trade 25% 
  • Robust analytical tools 
  • Stop out, or margin calls professional clients 15% and 100% or 50% for retail clients 
  • Base currencies for trading: EUR/GBP, GBP/USD, USD/CAD, USD/JPY, NZD/USD, AUD/USD, EUR/USD, USD/CHF and many others

3) Platinum account: For professional investors 

  • The margin on trade 1:500 
  • Spreads as low as 0.03
  • No deposit fees
  • Minimum charges to open trade $100 
  • Commission-free trading 
  • Swap discount on trade 50% 
  • Multiple execution functions: MT4 Cent, MT4 NDD, MT4 Fixed, MT4 NCC 
  • Base currencies for trading: EUR/GBP, GBP/USD, USD/CAD, USD/JPY, NZD/USD, AUD/USD, EUR/USD, USD/CHF and many others

2) Demo account 

The broker offers a demo or virtual trading account for those traders who wish to practice trade before entering the real trading world. Many people think that this account is only for novice traders, which is absolutely wrong. Even experienced forex traders can use this account to compare the broker with other financial service providers. 

You must be thinking how a demo account works for novice traders? It protects from sudden price shifts due to variation in market conditions. Moreover, traders can also check the potential of their trading strategies and risk management techniques. 

The broker’s demo account has the following features: 

  • Sufficient trading period
  • Offers virtual funds for trading 
  • Absolutely free

Is PrimeFin Scam or safe? 

  • Caps Solutions Limited, a registered company supervises all trading operations, official website, and payments of PrimeFin. It is an authentic firm with registration number 12734767. 
  • The regulation plays a vital role in defining the legitimacy of a brokerage firm. Those firms which are registered with a trusted central financial body falls under the list of safe ventures. PrimeFin fx broker falls on this list. The Labuan Financial Services Authority regulates the firm.

You must have got the answer that PrimeFin is a safe firm to invest with. The regulatory authority keeps a close check on every little detail and activity of the broker. Therefore, there are no chances of fraud. You can go ahead without any fear.

Are your transactions secure with PrimeFin? 

Along with the money, your personal and transactional information is safe with the broker. It is a forward-looking firm offering advanced and modern techniques which guarantee that platforms work efficiently and smoothly. The top-class security tools of the broker include: 

  • Firewalls
  • SSL software
  • Robust data encryption on various trading levels 
  • Servers placed in SAS 70, which is a certified data centre 

Trading platforms: Best for enhancing the quality of trading 

The financial service provider allows traders to speculate different markets though ultra-modern digital platforms such as Meta Trader 4, web trader and mobile application. To pursue trading on these platforms, you need a web broker, device and most importantly, an uninterrupted internet connection. There are several notable and expectational features in addition to the mentioned ones. 

1) Web Trader: Widely used and handy platform

Web trader is a widely used platform which is compatible with every device. If you fall among those who always try to ignore unnecessary download and installation, then web trader is for you. Other major features include: 

  • Lightning-fast trading speed 
  • Check real-time trading activity 
  • Single tap trading 
  • View trading history 
  • Live graphs and charts
  • Prompt access to all trade orders and bids 
  • More than 350 trading instruments 
  • Personalised trading experience 
  • Numerous excellent and free analytical instruments such as Fibonacci retracement, graphs, Japanese candlesticks, charts, customise bars and more
  • Several trading functions such as instant execution, four pending, two markets, trailing stop function and two stop orders 

2) Meta Trader 4: Facilitate anytime and anywhere trading 

Meta Trader 4 is a globally renowned trading platform which many professionals and analysts suggest. Above all, the platform provides timely market updates and accurate results. Other notable features of MT 4 include: 

  • Has profit functions
  • Real-time balance check 
  • One tap trading account switching 
  • High-frequency trading 
  • Automatic stop-loss order 
  • Favourable sweep
  • Live chat option 
  • Multilingual support 
  • Market price updates
  • Free and excellent educational resources

3) Mobile application: Grab each trading opportunity 

Trading with a mobile application helps you to exit and enter any trading position instantly and swiftly. It is a handy way to handle all trading activities with your daily routines. Moreover, it enables you to seize each opportunity. Other notable features of MT 4 include: 

  • One-click trading features 
  • Super-fast trading speed
  • Regular and customised price alerts
  • More than 60 analytical tools 
  • Regular market updates
  • Numerous excellent and free analytical instruments such as Fibonacci retracement, graphs, Japanese candlesticks, charts, customise bars and more
  • Allow trading on nine different trading time frames including H1, H4, MN, W1, D1, M30, M5, M15, M1 
  • Adequate authority over bids 

Wide range of tradable products and markets 

The broker offers more than 350 trading assets to diversify your trading portfolio. It further provides access to a huge trading market including forex trading, cryptocurrency trading, commodity trading, indices, stocks trading and many more. Therefore, you cannot miss any beat of the financial market. The products include: 

Symbol Description Spreads Trading hours Leverage
Forex
GBPUSD Great Britain Pound vs. US Dollar Floating 00:00-24:00 1:500
EURUSD Euro vs. US Dollar Floating 00:00-24:00 1:500
CADCHF Canadian Dollar vs. Swiss Franc Floating 00:00-24:00 1:500
USDJPY Dollar vs. Japanese Yen Floating 00:00-24:00 1:500
Cryptocurrency
BTCEUR Bitcoin vs. Euro Floating 24/7 1:2
BABUSD Bitcoin Cash ABC vs. US Dollar Floating 24/7 1:2
BTCUSD Bitcoin vs. US Dollar Floating 24/7 1:2
BTCGBP Great Britain Pound Floating 24/7 1:2
Commodity
CL Light Sweet Crude Oil (CME) Floating 01:00-24:00 1:125
BRNT Brent Crude Oil (ICE-EUR) Floating 03:00-01:00 1:125
RBOB R.B.O.B Gasoline (CME) Floating 01:00-24:00 1:125
NGAS Natural Gas (CME) Floating 01:00-24:00 1:125
Indices
DAX DAX 30 Index Future (Eurex) Floating 09:05-23:00 1:125
CAC CAC 40 Index Future (Euronext) Floating 09:00-23:00 1:125
FTSE FTSE 100 Index Future (ICE-EU) Floating 10:00-23:00 1:125
DOW MINI-SIZE DOW Index Future (CME) Floating 01:00-23:15 & 23:30-00:15 1:125
Stocks
ABNB AirBnB Inc Nasdaq (USA) 16:30-23:00 Floating 1:10
ABBVIE AbbVie Inc (NYSE) (USA) 16:30-23:00 Floating 1:10
AIG American International Group Inc. NYSE (USA) 16:30-23:00 Floating 1:10
ADOBE Adobe Systems Incorporated, NYSE(USA) 16:30-23:00 Floating 1:10

How to open an account with PrimeFin?

The procedure for opening a trading account with the broker is instant and straightforward. You only require to invest your five valuable minutes for opening the door of the global financial market. Moreover, PrimeFin login does not ask for any personal or sensitive information. The steps are as follows:

1) Visit the PrimeFin official website of the brokerage firm. You will see a registration form asking for name, contract, surname, country and email id. Sign in to get registered. 

2) Once you enter the OTP, the website will direct you to a documentation page. Upload the essential documents which include:

  • Identity proof: For this, you can either upload national id card or passport 
  • Address proof: For this, you need a bill or any document which contains the latest photo and permanent address. 
  • Financial and bank statements 

3) Select the market and asset you want to trade, deposit charges and start trading. 

Note: 
  • Before registering with the broker, check the URL of the website correctly as there are various fake firms which make a duplicate design of the website to trap traders. The only way to avoid such fraud is by checking the URL of the website. No two websites can have the same URL. 
  • Financial and bank statements required during documentation should not be older than five months. 
  • Keep all documents scanned beforehand. This will mitigate the time required to open a trading account. 

Commissions and fees 

The broker does not charge any commission fees on trading. It earns entirely from two ways firstly, swap charges and secondly, spreads. 

  • Spreads: The difference between ask and bid price is referred to as the spread. The broker charges low and floating spreads from the trader. They are as low as 0.07 for a silver account and 0.03 for a platinum account. 
  • Swap: In addition to the inactivity fees, the broker charges an amount for holding a trading position overnight. However, this amount is low as compared to other brokerage firms. 
  • Minimum deposit: It is an amount required to open a trading account with the firm. For this forex broker, the fee is just $250. 

Are deposits and withdrawals with PrimeFin faster? 

The entire process of deposit and withdrawal with the firm is easy and straightforward. Deposit of funds with the broker is instant on the other hand; withdrawal takes two to three business days to proceed. 

The firm allows trading through all common methods. Most importantly, all these options are renowned and globally used by most traders. It includes:

  1. Skrill
  2. PaySafe
  3. MIR Limited
  4. SafeCharge
  5. Mastercard
  6. VPay
  7. Wirecard
  8. DECTA
  9. VISA
  10. SSL
  11. DECTA
  12. Trustly
  13. Neteller
  14. Orange pay
  15. Emerchant pay
  16. Maestro
  17. Payvision

Does the broker offer leverage? 

Leverage is a popular financial tool which can easily magnify your profit. It helps in trading relatively larger assets or securities by paying only a small percentage of the total amount. Therefore, you need not have plenty of money for trading some famous and expensive assets. The entire amount of trade is divided into a simple ratio. It has two parts—Firstly, the larger one which the broker pays. Secondly, a smaller part which the trader pays. 

The maximum leverage offered by this forex broker varies depending on the market type. 

  • Forex market: 1:500
  • Cryptocurrency market: 1:2
  • Commodity market: 1:125
  • Indices: 1:125
  • Stocks: 1:10 

What does PrimeFin have for market analysis? 

Research is the backbone of financial market trading and assists a lot during trading. A well-informed and researched decision is better than that which is made just on predictions. This fx broker has much to offer in the arena also. 

You can find advanced tools like economic calendar, report season calendar, the trading signal which provides exact data about the future market price. Further, the broker also keeps you updated about financial market events and variations in factors affecting trade through its latent news function.

Up to date and excellent educational resources 

The broker’s educational resources are up to date and excellent in terms of quality, concept, and language. They successfully meet the learning objectives of both neophyte and experienced forex traders. Moreover, the platform-based tutorials clear each doubt regarding the tricky functions of complex MetaTrader 4.  

How to contact PrimeFin? 

Broker’s customer support services are excellent and better than other brokerage firms. The response time to receive a call is less than one minute. When it comes to emails, the broker reverts to each query on the same day. The entire team focuses on solving the core problem and provides the exact and satisfactory answer to all questions. Moreover, the team is logical, rational and polite while answering. In short, you get an accurate and quick response to your queries with PrimeFin. 

Contact details: 
  • Email: [email protected]
  • Telephone: +44 1215120156
  • Live Chat option: Provided to solve your queries instantly. 
  • Contact Form: In case your query persists after connecting with the customer support team, you can fill this contact form provided on the website.
  • Headquarter: You can also visit the head office of a broker situated at Unit B Lot 49, 1st Floor, Block F, Lazenda Warehouse 3 Jalan Ranca Labuan Malaysia in case of any serious issue 

Note: The time to connect with customer support is from Monday to Friday between 07:00 to 17:00 GMT. 

How is PrimeFin better than others? 

  • The instant account opening with the fx broker connects you to the global world in a few seconds. 
  • The wide range of trading instruments helps you diversify your trading portfolio and, therefore, mitigate risk to a larger extent. 
  • The broker takes care of the safety and security of your funds. 
  • The excellent educational resources, including articles, courses and several others, makes your trading foundation strong. Moreover, platform-based videos and tutorials assist you during trade execution. 
  • The ultra-modern trading platforms such as MT 4 and web trader push your trading standards and generate massive returns. 
  • The regular updates through notification about financial events and market shifts mitigate the chances of losses to a larger extent. 
  • The negative balance protection and stop-loss order further protect you from sudden market price variation. 
  • The lightning-fast execution speed of PrimeFin platforms helps you grab each market opportunity and set bids quickly. 
  • The broker facilitates smooth and quick trading through a one-tap trading function. 
  • You can find more than 350 assets with the broker providing all top markets including forex, cryptocurrency, commodity, indices, stocks and precious metals. 
  • An excellent customer support team of the broker adds another feather to its cap. 
  • The research tools offered provide precise results about the entry and exit points. Therefore, it helps in making a potential decision. 
  • Above all, the broker is well regulated and licenced by legitimate authority. Therefore, closing doors for all doubts regarding PrimeFin scam. 

The Final words 

To sum up, PrimeFin is one of the best trading financial service providers rendering its services in all well-developed economies. All services, tools, and platforms offered are ultra-modern and designed to keep the contemporary world’s demands in mind. Moreover, affordable trading charges make the platform extremely affordable for all kinds of traders. 

Frequently asked questions 

Is PrimeFin a scam?

No, PrimeFin is not a scam. It is regulated by a legitimate authority, the Labuan Financial Services Authority under the license number MB/20/0052 

How to open a free demo account?

For opening a demo account with the broker you just need to register yourself on PrimeFin official website

Does PrimeFin offer the best mobile app for trading?

Yes, the mobile trading applications offered are advanced and facilitate anytime and anywhere trading.

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