PrimeFin Review 2022: Scam or Legit?

PrimeFin Review
Min Deposit

$250

Min Spread

0.07

Regulation

LFSA

The currency market is one of the most dynamic and competitive markets in the modern period. Cap Solutions Ltd. uses the domain name PrimeFin.com to market its trading services. Its main goal is to provide clients with quick trading. More than 350 trading assets are available, including forex, cryptocurrency, stocks, commodities, indices, and precious metals.

Furthermore, it provides traders with access to multiple markets. Here you can see the completely impartial review of the brokerage firm PrimeFin.

PrimeFin quickly rose to the top of the market thanks to its outstanding services, including a cross-functional platform, multi-device trading apps, instant execution, quick withdrawal, top-notch data protection, and more. In addition, the Labuan Financial Service Authority (LFSA) also regulates and authorizes the broker.

With a maximum leverage of 1:100 and minimum spreads of 0.03, the broker offers commission-free services to its clients. PrimeFin’s customer service team is accessible to assist customers 24 hours a day, seven days a week. To provide clients with a high level of security, the broker employs firewalls and SSL software.

Is PrimeFin a Scam? 

PrimeFin is an entirely legitimate broker that trades over 350 different assets. Caps Solutions Ltd. owns the PrimeFin brand. The Labuan Financial Service Authority (LFSA) has granted the brokerage a license with MB/20/0052. The company’s registration number is LL16622.

Cap Solution UK Ltd, the owning firm, is located at Almack House 26-28 King Street, London, England (UK) and serves as the PrimeFin’s payment processor. The holding company is licensed under the number 12734767.

Investors Compensation Funds is a member of the broker (ICF). PrimeFin follows securities commission rules and regulations, such as the EU’s MiFID, and retains client funds in segregated bank accounts for security. Furthermore, the broker provides their clients with a high level of protection via a firewall and SSL software. As a result, It is a trustworthy trading broker.

PrimeFin Review: Pros and Cons

Pros

  • Highly Regulated
  • 300+ Trading Instruments
  • User-friendly Trading Platform
  • Instant execution
  • Cross-functional platform
  • Top-notch data safety
  • Multi-device trading apps
  • 24/7 Dedicated Customer Support
  • Advanced Educational Support

Cons

  • No MetaTrader 5

PrimeFin Review: Trading Account Types

Silver, Gold, and Platinum are the three types of accounts offered. All of these accounts include a variety of features to meet the needs of different clientele. The broker also provides a demo account with identical features and a similar environment to a live trading account. Here you can see characteristics of other account types. 

Silver trading account

  • 350+ financial assets
  • Zero Withdrawal & Deposit Commission
  • Hedging is allowed
  • Educational resources
  • Spreads as low as 0.07
  • $250 Minimum deposit
  • Maximum Leverage 1:100
  • Dedicated Account manager
  • Customized investment news
  • Available popular currency pairs: EUR/USD, EUR/GBP, GBP/USD, USD/CAD, USD/JPY, USD/CHF, AUD/USD, NZD/USD. 

Gold trading account

  • 350+ financial assets
  • No Withdrawal & Deposit Commission
  • Minimum deposit: $250
  • Spreads as low as 20 points.
  • Maximum Leverage 1:100
  • Customized investment news
  • Access to educational material 
  • Hedging is allowed
  • Fifth Decimal 
  • 25% Swap Discount
  • Free VPS
  • Dedicated Account manager
  • All popular currency pairs available

Platinum trading account

  • $100 Minimum deposit
  • 350+ financial assets
  • No Withdrawal & Deposit Commission
  • No deposit limit
  • Hedging is allowed
  • Spreads as low as 0.03
  • Maximum Leverage 1:100
  • Fifth Decimal 
  • Free VPS
  • Customized investment news
  • Access to educational material 
  • Execution model
  • 50% Swap Discount
  • Dedicated Account manager
  • All popular currency pairs available

PrimeFin Review: Account Opening

Traders can open a PrimeFin account in five easy steps: Account, Information, Questionnaire, Document, and Deposit. First, you will see the open account icon on the broker’s website, through which you can directly land on the account opening form. Traders can also access the account opening page by clicking on the link on the account details page.

Here are the simple steps that you can follow to open your trading account with PrimeFin. 

  1. Traders must provide personal information such as their first and last names, email addresses, country codes, phone numbers, and passwords. After you’ve filled out these fields, click the Create Account button.
  2. Traders must fill out the information about their trading requirements and account type. After that, click the submit button to proceed to the next page.
  3. You’ll be asked questions about your prior trading experience. Before moving on to the document page, make sure all of the information is correct.
  4. Now, follow the directions on the website page to submit your documents.
  5. The final step is to make a minimum deposit into your chosen account. You can deposit a minimum initial amount of $250 through your preferred payment method. 

PrimeFin Review: Trading Instruments

Foreign exchange: there are more than 40 forex currency pairs are available on PrimeFin. You can trade CFDs on minor, major, and exotic currency pairs, including EUR/USD, USD/JPY, AUD/USD, and many more.

Stock trading: It allows trading CFDs on a wide range of small to large-cap companies. For example, you can trade CFDs on stocks like Apple, Google, Facebook, Amazon, and more. 

Indices trading: Indices are the basket of stocks. You can trade CFDs on the most popular indices, including Dow Jones Industrial Average, Nasdaq, FTSE 100, S&P 500, etc.

Cryptocurrency trading: CFDs on various popular cryptocurrencies are available. It offers Bitcoin, Ethereum, Polkadot, and more. 

Commodities trading: Both hard and soft commodities are available for trading with PrimeFin. You can trade CFDs on livestock and agricultural products like meat, pork, wheat, sugar, soy, and more.

Metals trading: You can trade CFDs on precious metals like silver, gold, and platinum. 

PrimeFin Review: Commission and Spreads

Clients can use the broker’s services without paying a commission. PrimeFin offers competitive spreads that vary depending on the instrument. Spreads are determined by three key factors: account types, assets traded, and market circumstances.

The Silver Account offers 30 minimum spread in points and a 600 maximum spread in points. The Gold account offers 25 minimum spread in points and 550 maximum spread in points. The minimum spread in points for a Platinum account is 20, and the highest spread is 500.

PrimeFin Review: Leverage

For all three accounts, the broker offers maximum leverage of 1:100 and minimum leverage of 1:2. Thus, it provides high leverage to its traders; however, keep in mind that high leverage means that many traders may lose money quickly. Here is the leverage offered in different asset classes. 

  • Forex: 1:100
  • Metals: 1:25
  • Indices: 1:25
  • Commodities: 1:25
  • Stocks: 1:10
  • Cryptocurrencies: 1:2

PrimeFin Review: Deposit and Withdrawal

To open an account on the broker’s website, you must make a $250 deposit. The brokers do not charge clients any withdrawal or deposition costs.

There are a plethora of additional withdrawal options available on broker websites. The withdrawal request is processed within three business days, according to the broker’s norms and regulations.

You can fund your account using your preferred payment method. The various payment options available are Skrill, Neteller, bank wire transfer, MIR Limited, Safecharge, SSL, Orange Pay, and more. 

PrimeFin Review: Trading Platform

Webtrader

Traders can access global markets from any device or browser without having to download any additional software. WebTrader also includes one-click trading, multiple trade execution modes, an analytical toolbox, and a historical record.

  • Automatic Stop Loss/Take Profit functions
  • Free learning center
  • Real-time balance level
  • In-platform costs alerts
  • Multiple chart windows
  • One-click account switching
  • Inherent platform support
  • Live chat 
  • Dedicated customer support.

MetaTrader 4 (MT4)

MetaTrader4 (MT4) is the most common and appreciated trading platform among brokers. It is well-known for its built-in features, including high execution speeds, multiple trade execution modes, an analytical toolbox, and order history. Traders can use their mobile, laptop, or PC to use this platform. The MetaTrader 4 trading platform supports both Android and iOS. In addition, traders can use any browser to access this trading platform.

  • Real-time balance level
  • Multiple chart windows 
  • In-platform costs alerts
  • Automatic Stop Loss/Take profit functions
  • One-click account switching
  • Inherent platform support
  • Free learning center
  • Live chat and dedicated customer support.

PrimeFin Review: Mobile App

PrimeFin has its own mobile application that allows you to trade nonstop, receive customized notifications on specific assets, execute orders quickly, and track price changes and speculation.

  • High-frequency trading
  • Automatic Stop Loss/Take Profit functions
  • In-platform price alerts
  • Efficient sweep & trade user experience
  • Real-time balance level
  • 1-click trading operations and account switching
  • Free learning center
  • Live chat and multilingual support.

PrimeFin Review: Educational and Research Support

Several trading education materials, including articles, webinars, videos, trade ideas VODs, and so on, are available on the broker’s website. You can develop and improve your knowledge and furnish trading skills with the help of these educational resources. Both seasoned and inexperienced traders might benefit from educational materials.

Experienced traders can use these materials to keep up to date on new market trends, while new traders can use them to learn about techniques and market behavior.

It offers a variety of trading tools that allow users to analyze and test their trading techniques in order to make more practical trades. Economic Reports and Calendars The broker provides two fantastic tools: a Season Calendar and a Market Calendar. Economic calendars are used to keep track of financially problematic occurrences.

PrimeFin Review: Customer Support

PrimeFin customer service is available 24 hours a day, seven days a week, for a specific time. Clients can also use the “request form” on the “Contact Us” page to get in touch with them. Brokers offer three types of consistent support: email, phone, and live chat. 

If you’d like to speak with PrimeFin management, you may do so by using the Contact Management option on the contact us page on the website.

Address: Almack House 26-28 King Street, London, England (UK)

Phone Call:+44 1215120156 +27 418800785 +66 25060038 

Email: [email protected] 

PrimeFin Review: Verdict

PrimeFin is an online trading company that offers over 350 different financial instruments to trade. The Labuan Financial Service Authority has granted the broker its license (LFSA). Cap Solutions Ltd’s brand name is PrimeFin. Silver, gold, and Platinum accounts are available from the company. The broker has a lot of leverage and great spreads. It offers a commission-free trading service to its customers. This brokerage firm does not charge fees for client deposits or withdrawals.

FAQ

The account opening requires some steps to be followed: 

  • The first step is to register with the broker that is PrimeFin.
  • Next client should fill in the details like first name and last name, contact number and email address. 
  • Password is set to secure the account. 
  • The account is created, and after that, the trader should fill in all the details and upload documents asked by PrimeFin. 
  • With the deposit of funds, traders can execute their first trade.

The withdrawal of funds is easy with PrimeFin, traders have to place a request with the broker, and then the broker verifies the trader. Once the process is complete, the funds are transferred into the trader’s account. It may take two to three business days.

To get in touch with the team of PrimeFin, traders have various options: 

  • Monday to Friday 
  • Timings : 07:00 – 17:00 GMT 
  • Live chat support 
  • Email address: [email protected] 
  • Contact number: +44 1215120156, +27 418800785, +66 25060038
  • Form option

The demo account option is available with PrimeFin; traders can practice and make strategies before going live. For getting a demo account, the process is similar to getting a live trading account. First, traders have to register and fill in details for account creation. After this, they have to choose a demo account instead of a live trading account. They can then practice trade using the demo account.

Tradable assets offered by PrimeFin are: 

  • Forex 
  • Cryptocurrencies 
  • Commodities 
  • Indices 
  • Stocks 
  • Precious Metals

PrimeFin allows its clients to access trading account from several devices. Thus, traders can log in to the account simultaneously.

Traders can use several devices with PrimeFin using Android, Windows, MacOS etc: 

  • Mobiles 
  • Laptops 
  • Computer systems 
  • Tablets

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