PrimeFin Review 2021: PrimeFin is a Labuan based trading website which provides robust trading products and services at low cost. Moreover, the company is registered with the nation bearing registration number LL16622, having address – Unit B Lot 49, 1st Floor, Block F, Lazenda Warehouse 3 Jalan Ranca Labuan Malaysia. Apart from it, the company offers several other extra features like excellent customer service, amazing trading platform, a wide range of assets, impressive education library, segregated account types, and more.
Apart from it, the company is ready to serve its clients, from Monday to Friday, 07:00 to 17:00. In addition, the assets are from almost all market types which include shares, crypto, commodity, metals, currency pairs, indices, and more.
PrimeFin Review: Scam or Safe?
PrimeFin is a well-established brokerage firm and is a trading name of an investment company, Caps Solution Ltd., an organisation registered with laws of Labuan with registration number LL16622. Furthermore, the venture is licensed with the Labuan Financial Services Authority (LFSA) under regulation number 12734767. Moreover, the registered address of Caps Solution is Almack House, 26-28 King Street, London, England.
Moreover, the broker is also a part of the Investor Compensation Fund (ICF), which works towards the clients’ interest and the company protects all the users from frauds and insures traders’ funds up to 20,000 euros. Apart from it, there are other client protection policies like obeying EU regulations, MiFID rules, and following no negative balance policy.
At last, all the trader information and data is protected with PrimeFin broker’s robust IT security, which includes SSL, every level encryption, and more.
Overall, the broker is safe to trade, with carrying trusted financial body license and possessing extra security by following policies.
PrimeFin Review: Account Types:
The broker offers three major retail trading account, namely, silver, gold, and platinum, segregated as per the investor expertise. Notably, all the account types have distinct features and are free to open. Apart from it, the company also offers one free demo service account to users for practising and experience real trade and here are some glimpses from the three accounts.
Silver Account
1) Hedging
2) Amount of FX leverage – 1:100
3) Dedicated account manager
4) Customised investment news
5) Available base currencies: EUR/USD, GBP/USD USD/JPY, AUD/USD, USD/CHF, USD/CAD, NZD/USD, EUR/GBP, and more
Gold Account
1) Hedging
2) Amount of FX leverage – 1:100
3) Dedicated account manager
4) Customised investment news
5) Free VPS
6) Fifth decimal
7) Swap discount (up to 25%)
8) Available base currencies: EUR/USD, GBP/USD USD/JPY, AUD/USD, USD/CHF, USD/CAD, NZD/USD, EUR/GBP, and more
Platinum Account
1) Hedging
2) Amount of FX leverage – 1:100
3) Dedicated account manager
4) Customised investment news
5) Free VPS
6) Fifth decimal
7) Swap discount (up to 50%)
8) Available base currencies: EUR/USD, GBP/USD USD/JPY, AUD/USD, USD/CHF, USD/CAD, NZD/USD, EUR/GBP, and more
PrimeFin Review: Customer Support
The venture’s customer support is at par with industry standards and the executive’s response time was less than one minute and had more than enough knowledge to answer all the customer queries. Further, all the assistants were polite, rational, and logical while answering. At last, here are some glimpses for the same.
Telephone: +44 1215120156
Email: support@primefin.com
Live Chat Support: To instantly resolve all the queries.
Contact Form: If the issue even persists after connecting with the customer support
Notably, the time to contact them is 07:00 to 17:00 GMT, from Monday to Friday.
PrimeFin Payment:
PrimeFin broker offers a number of payment options, having no charges on deposit and some conditional fee or penalty on withdrawals and includes the following:
- Skrill
- Neteller
- SafeCharge
- MIR Limited
- Wirecard
- DECTA
- SSL
- Orange pay
- Payvision
- Trustly
- PaySafe
- VISA
- Emerchant pay
- VPay
- Mastercard
- Maestro
Interestingly, there are more than eight base currencies available, and it takes 3-5 business days to process the withdrawals. Similarly, the processing time for deposits is instant. However, there might be some charges on withdrawals if there are not enough transactions.
PrimeFin Review: Trading Assets
PrimeFin broker offers a number of trading instruments to users for investment and gains. It includes products from stocks, currency pairs, indices, commodities, crypto, and more. Furthermore, there is no charge on executing an order on trades from any of the market, with extra services including high leverage, tight spreads, etc. At last, here are some details about top trading products from every market type:
Stocks:-
PrimeFin provides one of the top options from the top-class stock markets across the globe and traders can invest in plenty of blue-chips shares, which have a higher profitability factor.
Forex:-
Quick turn out time and experts’ opinion leverage benefits here. Notably, people can select from sundry currency pairs. These currencies adhere to positivity and profit-booking.
Cryptocurrencies:
It is a volatile market, where the broker Primefin suggests ideas that can drive toward the ultimate goal of profit margin.
Commodities:-
The market has its perks when traded with the broker and offers several options in an array of assets like gold, silver, livestock, wheat, corn, oil, gas etc.
Indices:-
It is the aggregator of a cluster of stocks. Investors receive the best tips and information on the website. Also, it is the safest investment and comes with a prospect of risk management.
| Symbol | Description | Trading Hours | Spreads (As low as) | Leverage (Up to) |
| Shares | ||||
| 3M | 3M Company. NYSE (USA) | 16:30-23:00 | 0.21 | 50 |
| ADOBE | Adobe Systems Incorporated, NYSE(USA) | 16:30-23:00 | 0.21 | 50 |
| AIG | American International Group Inc. NYSE (USA) | 16:30-23:00 | 0.21 | 50 |
| Alcoa | Alcoa Inc. NYSE (USA) | 16:30-23:00 | 0.21 | 50 |
| Currency Pairs | ||||
| EURUSD | Euro vs US Dollar | 24H | 0.7 | 500 |
| GBPUSD | Great Britain Pound vs US Dollar | 24H | 1.3 | 500 |
| USDJPY | US Dollar vs Japanese Yen | 24H | 0.8 | 500 |
| AUDUSD | Australian Dollar vs US Dollar | 24H | 1.1 | 500 |
| Cryptocurrencies | ||||
| ADAUSD | Cryptos | 00:00-23:59 | floating | 1:2 |
| BABUSD | Cryptos | 00:00-23:59 | floating | 1:2 |
| BSVUSD | Cryptos | 00:00-23:59 | floating | 1:2 |
| BTCEUR | Cryptos | 00:00-23:59 | floating | 1:2 |
| Commodity | ||||
| Brent Oil | Brent Crude Oil (ICE-EUR) | 03:00 – 01:00 | 0.03 | 125 |
| Cocoa | Cocoa (ICE-US) | 11:45 – 20:30 | 30 | 125 |
| Coffee | Coffee (ICE-US) | 11:25 – 20:30 | 0.3 | 125 |
| Copper | Copper (CME) | 01:00 – 00:15 | 0.0041 | 125 |
| Indices | ||||
| ASX 200 | ASX SPI 200 Index Future (ASX) | 01:50 – 08:30 & 09:10 – 23:00 | 1.3 | 125 |
| CAC 40 | CAC 40 Index Future (Euronext) | 09:00 – 23:00 | 1.45 | 125 |
| China Enterprise 40 | China H-Shares Index Futures (HKE) | 04:15 AM – 07:00 AM & 08:00 AM – 11:25 AM | 1.3 | 125 |
| DAX 30 | DAX 30 Index Future (Eurex) | 09:00 – 23:00 | 1 | 125 |
PrimeFin Review: Trading Platform
The broker offers two trading platform, i.e. WebTrader and mobile app, to users for investment purpose. In addition, the platform aids the users in making better decisions with regards to entry/exit points and other trading activities with its wide number of tools. Here are some of its features
- Multiple chart windows to compare various assets
- Real-time balance level
- Automatic Stop Loss/Take Profit functions
- In-platform price alerts
- 1-click account switching
- Inherent platform support
- Live chat and dedicated support
- Free educational hub
- Different execution modes
- History of orders
- Analytical toolkit
- One-click trading option
At last, the platforms are free to use for everybody and one can test all services with the PrimeFin demo account.
Leverage:
PrimeFin broker offers high leverage service to help all users earn maximum profits but at the same time don’t want them to take uncalculated risks. Notably, the maximum leverage available to users is 1:500. However, it still depends upon several other factors. It includes the time of the trade, asset type, account kind, etc.
PrimeFin Review Charges:
Firstly, the broker is a low-cost trading firm and doesn’t charge any commission or fee on executing trades. In addition, the company only earns through spreads, i.e. the difference between ask and the bid price. However, the spread keeps changing, depending upon the account type, trading instrument kind, time of the trade, etc.
Apart from it, there are other penalty and fee which includes early withdrawals, insufficient transactions, overnight swap charges, and many more.
Account Opening with PrimeFin Review
The process of opening an account with the PrimeFin requires just three simple steps. These are as follows:
1) Firstly, visit the official website and click to open an account option. After that, it will redirect you to the page where you have to give your name and phone number for the verification process.
2) Secondly, once the number is verified, you need to upload all the desired documents related to your income status. Further, you can skip this step if the scanned documents are not available with you at that particular moment.
3) At last, the final step is deciding the market or trade you wish to carry out. And, once you deposit the required amount for that trade, you can start trading.
Pros and Cons of PrimeFin Review
Advantages
PrimeFin is an attractive choice for traders because it offers various advantages compared to others. And, Some of the pros are listed below:
- 1) Offers advance platforms for trading including Meta Trader 4 and Web trader
- 2) Provides leverage up to 1:500
- 3) Simple account opening process. A trader needs to proceeds with just three steps for opening a trading account.
- 4) Minimum deposit for trade is just $250
- 5) They charge no commission on trade
- 6) High volatility and they provide many tradable assets which help in enhancing the trader’s portfolio
- 7) Cross-platform trading available with PrimeFin
- One can easily switch between web, Pc, and the mobile trading environment without missing any single thing, and hence it keeps up with the pace of trading where ever one goes.
- 8) The take care of your personal as well as the trading data. Meanwhile, the measures taken for data security are strict and reliable
- 9) Dedicated team for customer support is available 24/7. And, the response time for the call is less than one minute
- 10) Their platform provides low latency and high order execution speed
- 11) Live market dynamics accessible available for 24 hours and seven days
- 12) Provides an advance platform for trading such as Web Trader and Meta Trader 4
- 13) It provides a demo account for the traders who wish to practice trading before entering in real-world trading.
Disadvantage:
- 1) Does not provide Meta Trader 5 for trading, which can be inducted as the time proceeds. Hence, it can be anticipated that
- 2) Sometimes it takes time to connect with customer support service
Research
After all, research is the most crucial tool which can increase the returns on trade for the trader and the PrimeFin provides two primary tools for carrying out the research work. Firstly, the economic calendar and the other is the report session.
1) Economic calendar
After all, one may be wondering what the use of the economic calendar in trading. Notably, an economic calendar indicates the schedules and dates of significant events or releases which may influence the movement of markets and individual security amounts as a whole. And, traders and investors utilise the economic calendar to design portfolio reallocations and trades as well as to be vigilant to chart, patterns and indicators that may be affected or caused by these events.
2) Report session calendar
Certainlỵ, it is also an essential tool provided to fulfil the research purpose.
Education:
Subsequently, success in the financial market does not depend on luck. And, there is no way by which you can earn everything without having any knowledge of the concerned thing. So, the process of learning should go on. Notably, the process is not only for novice traders but also for experienced traders.
Importantly, PrimeFin provides various education tools for all levels of trader that help in building a strong trading foundation. Interestingly, it includes videos, tutorials, courses for traders and some of the videos of PrimeFin are:
1) TRADING IS AN ART FORM
2) CHANCE AND RISK
3) ARE YOU AN EMOTIONAL TRADER?
4) DISTRIBUTING RISKS
5) CURRENCY PAIRS
The Bottom Line
Overall, the most important thing with trading is the choice of broker and it can make or break any trade. So, one must be careful while choosing the right broker for trading.
At last, the PrimeFin is the trustworthy and well-regulated broker with the licence number MB/20/0052. And, it must be clear from the description given above that it is not a scam. In short, one can start its trading journey with this trusted firm with affordable trading rates. Visit the broker site for opening a trading account.
