PrimeFin Review

primefin
4.3
Rated 4.3 out of 5
Excellent80%
Very good0%
Average0%
Poor10%
Terrible10%
primefin
4.3
Rated 4.3 out of 5
4.3 out of 5 stars (based on 10 reviews)
Excellent80%
Very good0%
Average0%
Poor10%
Terrible10%

PrimeFin Review

71% of retail investor accounts lose money, …

primefin

PrimeFin

4.3
Rated 4.3 out of 5

Overview

PrimeFin, one of the leading Forex and CFD brokers, offers an enhanced and advanced platform to traders across the world. Read our detailed PrimeFin Review 2022 to know more about the Broker.

The Broker offers over 300 underlying assets to trade, including CFDs on major and minor currency or Forex Pairs, Cryptocurrencies, Stocks and European Shares, Market Indexes, and Commodities.

PrimeFin offers over 40 currency pairs to investors, including Major, Minor, and Exotic currency pairs. In addition, high leverage is also available depending on the trading account you select, which is often used by high-volume traders. 

As a global broker, PrimeFin’s web platform and mobile application are available in various languages, including English, Russian, Spanish, Portuguese, and Thai.

As the Broker offers a range of assets for trading, it provides a number of options for investors and allows them to diversify their trading portfolio significantly. 

This is critical in Forex trading, as the more possibilities you have, the more likely you are to make a large profit from the market.

Is PrimeFin Legit or Scam? 

As the Broker is relatively new, you might be thinking – Is PrimeFin legit? Here’s an answer. 

PrimeFin is a regulated broker with headquarters in Labuan, Malaysia. The Broker complies with all securities commission laws, such as the EU’s MiFID, and is a member of the Investors Compensation Funds (ICF).

Malaysia’s tier 1 financial regulator ‘Labuan Financial Services Authority (LFSA)’ has granted Primefin a license with the number MB/20/0052. 

PrimeFin is a trading name of Caps Solutions Ltd, a Labuan-based company with the registration number LL16622. 

For additional safety, client funds are also kept in separate bank accounts, which is one of the top reasons to trust the Broker.

The Broker’s registered address is Unit B Lot 49 1st Floor Block F Lazenda Warehouse 3 Jalan Ranca-Ranca 87000 FT Labuan, Malaysia.

As per our PrimeFin Review 2022, it can be said that the Broker is legit and operates lawfully.

Our recommendation: Trading at PrimeFin Review

  • Fifth decimal available 
  • Spreads begin from 0.03 pips
  • Commission is zero  
  • Full 10-hour support  
  • News alerts and VPS for traders
4.3
Rated 4.3 out of 5
primefin

Advantages and disadvantages of PrimeFin Review

  • Offers 350 financial instruments to trade
  • Good Platform for advanced trading
  • Regulated by LFSA
  • Offers cross-platform trading
  • Hassle-free and fully digital account opening process
  • Complete control over the bids
  • Offers high-leverage
  • Accessible through all browsers
  • Customer service available 24/5
  • MetaTrader5 platform is not available
  • Customer service response time is slow

Types of Accounts Offered

PrimeFin offers three different types of accounts:

  • Silver Account
  • Gold Account
  • Platinum Account

Silver Account: 

If you’re new to forex trading, the Silver Trading Account is a great place to start. It functions effectively and provides access to a large trading market while posing fewer risks.

  • Hedging Allowed
  • Leverage up to 1:100 
  • Offers tools like Customized Investment News
  • Base currencies include EUR/USD, GBP/USD, USD/JPY, AUD/USD, USD/CHF, USD/CAD, NZD/USD, and EUR/GBP
  • Zero fees on deposit and withdrawal
  • Tight spreads starting from 0.07 pips
  • Over 350+ financial instruments are available
  • 24/5 Customer Service
  • The minimum deposit is $250

Gold Account: 

When a trader has good experience in trading, they may upgrade to the Gold Account, which is ideal for investors who have enough experience and are willing to take bigger risks. 

Those who use this account will have specific features created according to their needs, including: 

  • Hedging Allowed
  • Leverage up to 1:100 
  • Offers tools like Customized Investment News
  • Base currencies include EUR/USD, GBP/USD, USD/JPY, AUD/USD, USD/CHF, USD/CAD, NZD/USD, and EUR/GBP
  • Free VPS
  • Zero fees on deposit and withdrawal
  • Tight spreads starting from 0.07 pips
  • Dedicated account manager
  • Over 350+ financial instruments are available
  • Fifth Decimal
  • 24/5 Customer Service
  • Swap Discount
  • The minimum deposit is $250

Platinum Account: 

With fast execution, low spreads, and no fees, the platinum account is suitable for experienced and high-volume Forex traders. Here are some features of this account type. 

  • Over 350+ financial instruments are available
  • Hedging Allowed
  • Leverage up to 1:100 
  • Offers tools like Customized Investment News
  • Base currencies include EUR/USD, GBP/USD, USD/JPY, AUD/USD, USD/CHF, USD/CAD, NZD/USD, and EUR/GBP
  • Free VPS
  • Zero fees on deposit and withdrawal
  • Tight spreads starting from 0.03 pips
  • Dedicated account manager
  • Fifth Decimal
  • 24/5 Customer Service
  • Swap Discount

Demo Account: 

A Demo account can be quite beneficial to any Forex trader, especially when you are new. This may help you learn more and progress as a trader, regardless of how much experience you have in the field of Forex trading. 

The account is an excellent approach to learning more about trading while also getting to know the Broker. Many individuals believe that demo accounts were created to allow new traders to experience what Forex trading is actually like. 

While this account might be extremely beneficial to novices, it was not developed with them in mind. However, even the most seasoned traders may benefit significantly from demo accounts by trying new strategies and learning about the Broker’s real-world services.

How To Open An Account?  

The account opening process on PrimeFin is fully digital and straightforward. On the right side of the page, there is an option to “Open Account.”

For a quick and hassle-free account opening procedure, follow the steps listed below: 

Step 1: Select the “open account” option on the homepage. When you select an option, you will be redirected to a new page.

Step 2: Fill up your information, including your first and last names, email, country code, phone number, and password. Then press the submit button.

Step 3: Now, select your preferred account type and instrument.

Step 4: The next step has a trading-related questionnaire. All of these questions must be answered correctly by investors. 

Step 5: The next step is to deposit funds in your trading account, where traders must deposit a minimum of $250 before proceeding to the final stage.

Step 6: Traders must next upload their identity verification documents in accordance with their Broker’s standards.

Step 7: Traders can now begin trading using the features of their chosen account.

Our recommendation: Trading at PrimeFin Review

  • Fifth decimal available 
  • Spreads begin from 0.03 pips
  • Commission is zero  
  • Full 10-hour support  
  • News alerts and VPS for traders
4.3
Rated 4.3 out of 5
primefin

Instruments Available for Trading

The Broker offers to trade on over 350 assets. The popular trading instrument available on PrimeFin includes: 

Forex: Trade CFD on 40+ currency pairs, including EUR/GBP, HKD/JPY, and other major currency pairings.

Cryptocurrencies: Trade CFDs on well-known cryptocurrencies such as Bitcoin, Litecoin, Ethereum, and many more.

Stocks: Offers CFD trading on global equities such as Amazon, Apple, Tesla, Walt Disney, etc.

Commodities: Offers trade on commodities like Sugar, crude oil, iron, etc.

Metal: CFDs on Gold, Silver, Platinum and other precious metals are available.

Indexes: CFDs on the most major indexes, including the DOW30, DAX30, and NASDAQ100.

Commissions, Spreads, and Fees

The cost of trading is determined by a number of factors, including fees, spreads, and margins. Before proceeding, first, get familiar with these terms. 

Spreads: 

A currency pair’s spread is a difference between the bid and ask rates. A pip is the lowest unit of change that an exchange rate may make. For currency pairs with the JPY as the term currency, one pip equals 0.01; for all other pairs, one pip equals 0.0001.

When choosing a broker like PrimeFin, the spreads are competitive and diverse. It all relies on the type of account a trader opens with them, the asset they’re trading, and the current economic situation.

Commission:

While the contract for differences (CFDs) trading is a type of derivative trading that allows traders to bet on fast-moving global financial markets’ increasing or falling prices, it comes with a commission when traded on stocks. 

CFD trades on other exchanges do not have a fee, but they do have a spread wrapped around the market price of a particular instrument. The best thing about Primefin is that the Broker does not charge a commission on trades.

Deposits And Withdrawals:

Primefin has no fees for deposits or withdrawals. Other banking institution fees, however, may apply.

Inactivity Fees:

When there have been no trades for more than 61 days, there are inactivity fees that may cost up to EUR 160.

 Maximum Leverage

Trading using high leverage increases a trader’s potential profit while simultaneously increasing the risk of losing money. 

Leverage is a facility offered by a broker that allows traders to get a higher exposure to the market than the money they deposited to open the trade.

Traders should constantly bear in mind that, while the brokerage’s high leverage may be a bonus, trading at such high leverage should only be performed by experienced traders who understand how to avoid huge losses.

On the other hand, Primefin gives its traders maximum leverage of up to 1:500. 

Deposit and Withdrawal Process on PrimeFin?

To start trade, most accounts need a minimum initial deposit, which can be made in a variety of ways. Withdrawals usually take place in the same way; however, the process may vary.

To start an account with Primefin, a minimum deposit of $250 is required. The Broker accepts a variety of payment methods and does not charge fees on deposits, but withdrawals are subject to a conditional fee.

Payment Options available on PrimeFin: 

  • Skrill
  • Neteller
  • SafeCharge
  • MIR Limited
  • Wirecard
  • DECTA
  • SSL
  • Orange pay
  • Payvision
  • Trustly
  • Paysafe
  • VISA
  • Emerchant pay
  • VPay
  • Mastercard
  • Maestro

On the other hand, the withdrawal process may take up to 3 to 5 days to complete. If your transactions are low or you have been inactive for a long period, the Broker may levy a set fee.

Trading Platforms

In this section of our PrimeFin Review 2022, we will discuss the trading platform offered by the Broker. Currently, the Broker offers two platforms for trading with advanced mobile apps. 

  • MetaTrader 4
  • WebTrader

MT4 Trading Platform: 

For Forex traders, MT 4 is one of the most advantageous trading platforms. This Platform is well-known for its built-in features, including high execution speed, several trade execution modes, an analytical toolbox, and order history.

Features of MT4:

  • Various assets can be compared using multiple chart windows
  • Balance level in real-time
  • Stop-Loss/Take-Profit functions are automatically activated
  • Price alerts on the Platform
  • Switching accounts with a single click
  • Built-in Platform support 
  • Live chat and specialized customer service
  • Free educational support

WebTrader: 

The WebTrader is a trading platform that runs in your browser. Traders may use any browser to access this trading platform. 

It resembles the MT4 Platform in appearance. Traders do not need to download any other software in order to use the WebTrader platform. 

Features of WebTrader: 

  • One-click trading option
  • Numerous chart windows for comparing assets 
  • Automated Stop Loss/Take Profit function 

Company Details

Assets

  • Forex on 40+ currency pairs
  • Commodities
  • Stocks
  • Metals
  • Indices
  • Cryptocurrencies

Basics

  • Country: Labuan
  • License No: MB/20/0052
  • Regulations: LFSA

Customer Service

Our recommendation: Trading at PrimeFin Review

  • Fifth decimal available 
  • Spreads begin from 0.03 pips
  • Commission is zero  
  • Full 10-hour support  
  • News alerts and VPS for traders
4.3
Rated 4.3 out of 5
primefin

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

Features of PrimeFin Mobile App: 

  • One-click trading option
  • High execution speed
  • Offers 9 different time frames
  • Instant market alerts
  • Over 60 Analysis tools
  • Free educational support
  • Live chat and customer support in multiple languages
  • User-friendly interface
  • Available on iOS and Android

Educational and Research Support

The Broker provides outstanding educational and research materials to its clients. The educational and research material is extremely useful for both rookie and experienced traders in understanding the basics and current events in the financial markets. 

Traders can also learn about various trading strategies and approaches. The following is a list of the educational and research support available on PrimeFin:

  • Webinars
  • Seminars
  • VOD
  • Articles
  • Ebooks
  • Built-in Economic calendar
  • Built-in Seasoned Calendar
  • Latest News

Customer Support

PrimeFin offers a dedicated and award-winning customer service staff. The support team is well-educated and trained, and they respond quickly to inquiries.

You may contact them via a variety of channels, including live chat, phone, and email.

Contact Information:

Phone No: +44 1215120156

Email: [email protected]

Conclusion: 

In comparison to other forex brokers, Primefin is a market leader and service provider. In our in-depth PrimeFin Review 2022, we found that the Broker provides a diverse set of trading products as well as a sophisticated trading platform. 

The Broker is putting in a lot of effort to ensure that it can fulfill the demands of every trader on the market. Being regulated by FSCA, the Broker is legitimate.

Primefin is one of the greatest brokers on the market, with unrivaled safety and security features, and is highly recommended.

No, PrimeFin doesn’t offer Islamic accounts. The other account types available on PrimeFin are Silver, Gold, and Platinum.

PrimeFin offers a variety of services and user-friendly Platforms to its users, which is quite good for professional as well as Beginner traders. 

PrimeFin offers commission-free trading to its users. 

PrimeFin is regulated by Malaysia’s tier 1 financial regulator Labuan Financial Services Authority (LFSA).

No, PrimeFin doesn’t charge any fees on deposits. Check the Broker’s website for more details. 

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