Forex trading is one of the most popular markets around the world. Today, it is available for investors around the world for everyone. However, it has not been like this forever. Just a few decades ago, only the biggest financial companies, like banks, were able to participate in this market.
Over the years, it has changed. Today, thanks to the development of the internet, the field became accessible for everyone around the world. However, with such a huge exposure, came a lot of problems as well. One of the biggest challenges that people have around the world is that they are having a very hard time finding trustworthy Forex brokers.
It is very hard to find a safe broker in countries of Asia and Africa. In these regions, most of the companies are using lighter regulatory frameworks to lie to people and get their funds illegally. However, there are some Forex brokers, like PrimeFin, that is working very hard to make sure that all the investors using their services are staying as safe as possible.
Today, we are going to review PrimeFin, a fairly new Forex broker, which has already managed to take one of the top spots around the world. This Forex broker is dedicated to making the Forex trading market accessible for everyone, and by offering more than 350 trading instruments, it is creating a very diverse and enjoyable environment for every trader. It offers services to many countries around the world but mostly focuses on Asia. If you want to learn more about this broker, read our very detailed review of this company.
Regulatory framework of PrimeFin
In the world of Forex, one of the main things that investors should be worried about is the safety and security that they can have. One of the things that can ensure the safety of investors is the regulations. Over the years, many jurisdictions around the world came up with this idea to establish regulatory bodies, that would take care of fields like Forex trading.
PrimeFin follows the regulatory guidelines of the Labuan Financial Services Authority. PrimeFin is registered and regulated in Labuan, because of this, it has to follow the regulatory frameworks of the local regulatory agency. The broker is registered in Labuan, Malaysia. Because of the regulatory framework that this broker follows, it makes sure that every single investor that uses it can stay as safe as possible.
Because of the regulatory framework, PrimeFin has to keep the funds of its clients on segregated bank accounts. By doing so, no matter what goes wrong, the funds of the clients are guaranteed to stay as safe as possible. With this, even if the broker goes bankrupt, investors will still be able to withdraw their funds without any problems. As our review of the PrimeFin FX broker shows, this company has done a lot to make sure that all of its clients stay as safe as possible.
Why should you care about regulations?
Forex trading is one of the riskiest markets around the world. Because of the huge risks that are in connection with this market, many people are having a very hard time to learn which brokers can be trusted on the market. To overcome these challenges, countries around the world created regulatory agencies, that would work tirelessly to make sure that every single investor stays safe on the market.
Regulations are a way for investors to tell which brokers can be trusted. Although there are always risks, regulations are a great sign that the broker is a legit company.
Steps to get started at PrimeFin broker
Starting Forex trading in most of the Forex brokers on the market is a pretty challenging thing to do. In most cases, it takes a very long time to get the account, make deposits, etc. In the case of PrimeFin, it is a very simple procedure that can be done in just a few minutes. The only thing that you will need to do is to understand what is it that you are looking in the world of Forex trading.
This FX broker offers several account types, which is making the services accessible for anyone. There are three major account types, such as:
- Silver Account
- Gold Account
- Platinum Account
All of these account types are very different from one another. They offer different services and different speed of execution, and this broker is doing everything to make sure that no matter what type of investor you are, you can find something to enjoy here.
Use demo account to learn more about trading
A demo account is offered by many Forex brokers around the world, to give investors the ability to learn more about Forex trading as well as the broker itself. PrimeFin FX broker review shows that this company offers a very well-developed demo account. This demo account very well resembles the real-life trading offerings of this Forex broker, which means that investors have the ability to check out everything that this company has to offer without having to risk their hard-earned money.
Also, a demo account is a perfect way for learning more about Forex trading. While using this account type, you will be provided virtual cash by the broker, which you can use for trading. This way, you can test your tactics and come up with new strategies for trading and see what works better for you.
There is this misconception about demo account that it is something for beginners only, however, in reality, it can be used by even the most experienced FX traders, to learn more about a certain broker. With the help of a demo account, investors have the ability to try out everything that the broker has to offer, and this happens without actually having to risk the real-life funds.
Silver Account – perfect choice for beginners
If you still are not comfortable trading Forex, this account type will work perfectly for you. As our review of PrimeFin shows, this account type can offer perfect services to the beginner FX traders. Leverage for investors using a silver account is 1:100, which is not that high, but still should be something that is used with a lot of care. You will also get a dedicated account manager, customized investment news, and many more. Also, there are more than 40 currency pairs available for FX traders using this account type.
Gold Account – enjoy more offerings now
Gold Account is a very good choice for those who are looking for more offerings in the world of Forex. In addition to everything that silver account users can enjoy, the gold account offers free VPS, swap discounts, and many other special services. This account type is perfect for those investors who have already learned a lot in the world of Forex and are looking for some new offerings.
Platinum Account – enjoy professional trading
This account type is a perfect choice for those investors who are looking for something new in FX trading. It offers special services to investors and amazing offerings. With the ability to trade Forex with very high leverage, you will be able to get huge amounts of turnovers in just a few traders. However, you should remember that it is not something that newcomers should use, as it is connected to a huge risk. If you do not have enough experience in the Forex trading market, this can have very bad consequences for you. This account is created for the most experienced FX traders.
How to create a live trading account?
The process of creating a trading account at PrimeFin is a very simple thing to do. All you need to do is to provide very basic information about yourself, such as your name, last name, phone number, email, and things like these. The broker also follows the Know Your Customer policy, because of which, you will have to verify your identity. This can be done very easily, in just a few steps. However, keep in mind that you will have to verify your identity with some type of document.
What should you do after you have registered at PrimeFin?
Our review of broker PrimeFin shows that it only takes few minutes to create a live trading account at this Forex broker. After you have chosen which account you want to use and you have created your live trading account, now it is time to make your first payments.
There are several payment methods available for investors, such as bank transfers, credit/debit card payments, online payment methods like Skrill and Neteller, and many others. All of these payment methods are making it very easy for investors to deposit funds on their trading accounts. It will take just a few minutes for payments to be made, and the best thing about them is that there are no fees or commissions charged by the broker.
However, you should always double-check the information regarding the fees and commission with the issuer of your payment, since there might be some fees charged from their side.
Trading instruments of PrimeFin – What should you know?
Trading instruments represent one of the most important parts of Forex trading. There are the things that you will be able to trade, and in the case of PrimeFin, there are many of them that you can use. Our detailed review of PrimeFin FX broker shows that you can trade the following assets with this company:
- Currency Pairs
- Stocks
- Indices
- Cryptocurrencies
- Precious Metals
- Commodities
Because the offerings of this Forex broker are so diverse, investors using this company have the ability to choose the one that meets their wants and needs the most. Below, we will discuss all of these offerings one-by-one and will offer you a better insight into how they work.
Currency pairs
Forex represents one of the biggest markets around the world. According to the official data from 2019, the average daily turnover of the Forex trading market was as much as $5.1 billion. at PrimeFin, you can trade more than 40 currency pairs. Available currency pairs at this Forex broker include Major, Minor, and Exotic currency pairs, which is creating a very diverse market for everyone who wants to become part of it.
While trading Forex at this broker, you have the ability to use special analytics that can make your job a lot easier. Also, the spreads are very low and you will have the ability to use a dedicated support team that can make Forex trading a much easier thing for everyone. The team is available for five days a week, from 7:00 to 17:00 GMT.
Stocks
Stocks trading has always been very popular, but recently, it has seen massive growth. With this Forex broker, you can trade stocks of huge companies around the world, these companies include Netflix, Apple, Google, Microsoft, and many others. The spreads are very low when you are trading stocks with this broker, and there are no commissions.
Indices
Indices are a great way for those who are looking forward to reaching unrivaled market experiences in the fastest way possible. At this Forex broker, you will have the ability to trade major world indices such as NASDAQ, DOW, FTSE 100, and many others. Our review of PrimeFin shows that this Forex broker is working very hard to make sure that every investor can find something that they can enjoy on the platform, which is creating a very special environment for every investor.
Cryptocurrencies
Around the world, crypto is becoming very popular. Not only in the world of Forex, but it is starting to be used in many fields. Forex gives investors the ability to trade crypto and enjoy huge gains. With this Forex broker, you will not have to own the cryptos directly, rather, you will have the ability to forecast the prices of cryptos and trade them that way.
You can trade cryptos like Bitcoin Litecoin, Ethereum, and many others at PrimeFin FX broker.
Precious Metals
Precious Metals have always been very popular among investors for their status. In the world of finance, precious metals are known to be a ‘safe haven’, because of the stable prices that they have. Even in the case of the financial crisis, the prices of the precious metals rarely drop, mostly, they are on the rise when something bad happens.
Because of this, they are a perfect choice for long-time investments, and many people are doing so. You can trade precious metals like silver, gold, and many others at this Forex broker.
Commodities
Our review of PrimeFin showed that one of the most popular markets on this broker is the commodities trading market. This is not a surprise at all for us, because commodities have always been something that played a huge role in the everyday lives of people around the world. There are mostly two types of commodities, soft and hard. Soft commodities are the ones that are a product of agricultural activities, such as cocoa, coffee, wheat, and many others.
On the other hand, hard commodities are those like crude oil, gold, etc.
Amazing educational material waits for you at PrimeFin
Many regulatory agencies around the world require Forex brokers to offer investors the ability to learn more about Forex trading by giving them a wide range of educational material. The educational material is one of the most important things about Forex trading, it gives investors the ability to learn more about Forex trading, which can be very beneficial in the long run.
PrimeFin offers one of the best educational materials on the market. They have created a special page on their website which is dedicated to the educational material and offers investors offerings like no other. Because of such a huge list of educational material, we believe that this FX broker is one of the few ones that are really trying to make this market better for everyone.
Among many other things, you can find E-books, Webinars, Daily Analytics, and many other things at this Forex broker. Many people have this misconception that educational material is only for beginner FX traders, but in reality, it is something that can benefit anyone on the market, even the most experienced investors.
The thing is, the more you know about the ongoing events on the market and the more you try to stay up-to-date with everything that happens in the world of Forex trading, the more chance you have to be successful in this market.
Trading Platforms of PrimeFin
As our review of the PrimeFin Forex broker shows, there are two trading platforms available at this broker. The first one is the WebTrader, which is very similar to a very popular MetaTrader 4, a trading platform created in 2005 by a Russian company MetaQuotes, which stands to be the most used trading platforms on the market. WebTrader basically is a browser-based version of MT4.
With the help of WebTrader, investors have the ability to trade Forex without having to download additional applications on their computers. This means a lot for many people since they want to trade Forex very simply, without having to download programs on their computers. WebTrader is a very well-developed trading platform and offers investors access to a huge trading market. WebTrader is very user-friendly and can be used by anyone, no matter how much experience they have in the Forex trading.
The broker also worked very hard to create a mobile application for its clients. The world of Forex is known for being very up-to-date with developments around the world, currently, the whole market is focusing on mobile devices a lot. This is a great offering, especially for those who are always on the go. Now, they will be able to stay in touch with the market no matter where they go.
Other than that, there are many countries around the world where people do not have access to PCs, however, smartphones are being used even in the most remote places on the earth. This can be a huge advantage for everyone and trading Forex with mobile can change the way people see the market.
The Website of the broker & customer support team
The website of this Forex broker looks very good. The best thing about it is the fact that no matter what is it that you are looking for, you can very easily find it on the website. The pages are created in a very logical manner, and the information is provided in a way that anyone can find anything that they might be looking for.
While working on the review of the PrimeFin FX broker, we made sure to focus on every little detail. Something that we wanted to check out the most was the customer support team. We contacted them on our own and found out that they can be very helpful. There are three major ways you can get in touch with the customer support team:
- Live Chat
- Phone Number
We tried all of these options, and we found that they can be very helpful. The fastest way to get help is live chat. We contacted the representatives of the customer support team via live chat, and they got back to us in no time, and the information that they have provided was very helpful.
The same goes for the calling option. You can call the customer support team which is available in several languages, the number for your region can be found on the official website of the broker. They are very quick to answer, and they do their best to make sure you get the help that you need. Email is the slowest way you can connect with the customer support team, but they are very helpful. They tend to answer every question in great detail.
Final thoughts – Should you trade with this broker?
After working on the very detailed review of PrimeFin, we found that this Forex broker can be trusted. The FX market today needs a broker like this one for future development. One of the biggest advantages of using this Forex broker is the safety and security that you are offered. In today’s Forex market, it is of utmost importance to trade with a company that can guarantee the safety and security of you and your funds.
In addition, this Forex broker offers more than 350 trading instruments, which gives every investor the ability to diversify their portfolio. So, do not hesitate, visit the website of this Forex broker and start trading now!