Prime-Coin Review: Why Trade FOREX With Prime-Coin [2022]
If you are an FOREX broker in the UK, you have likely come across a number of online platforms and applications. Prime-Coin is one such online FOREX trading platform in the UK offering a number of features that are desirable for FOREX traders. In this review article, we will talk about a few of those features.
Why Trade FOREX With Prime-Coin:
1) Regulatory Compliance:
One of the very first things to check in an online FOREX brokerage firm is if it is licensed to operate as a broker. Prime-Coin is regulated by the Financial Conduct Authority (FCA) – the body responsible for overseeing and regulating brokers throughout the country. If you wish to verify this information, you can visit the ‘About Us’ section of the Prime-Coin website, which covers the details of its license. Alternatively, you could visit the FCA website and see if Prime-Coin is present on the body’s list of licensed brokers.
Due to concerns regarding safety and integrity, we strongly recommend that you only open an account with a licensed broker like Prime-Coin.
2) Sophisticated Account Features:
a) Excellent Leverage and Margins:
FOREX participants using Prime-Coin will have access to excellent leverages that can go as high as 200:1. This means that, if you have $1,000 in your FOREX trading account, you can hold a position valued at $200,000.
Leverage is extremely helpful for traders, as it increases their chances of generating higher profits. However, at the same time, leverage can also magnify your chances of losses. For this reason, Prime-Coin’s skilled and experienced team is always available to guide clients on the optimal use of leverage.
b) Low Commission and Tight Spreads:
In FOREX trading, a commission is a certain percentage of the spread, which is the difference between the asking and buying price of a currency pair. With Prime-Coin, you will be charged a minimal commission, regardless of the currency pair that you trade, thereby increasing the amount of profit that you retain.
Generally, the wider the spread is, the more difficult it is for the trader to make money. In order to avoid this from happening, Prime-Coin charges very tight spreads, especially for popular currency pairs like GBP/USD and EUR/USD.
c) Low Initial Deposit:
Prime-Coin’s FOREX account can be funded with a very low deposit – and, in order to mitigate the limitations caused by a low initial deposit, offer high leverages as we have already discussed above.
In addition, to cater to the differing requirements of their clients, Prime-Coin offers Standard, Mini, and Micro FOREX accounts, with each having a different initial deposit requirement.
d) Ease of Withdrawals and Deposits:
According to Prime-Coin’s withdrawal and deposit policies, account holders can fund their accounts through multiple sources. These sources include ACH payment, credit card, bank check, wire transfer, or personal or business check. Withdrawals, meanwhile, can be made through wire transfers and checks.
The deposit and withdrawal fee will be a nominal percentage of the amount being deposited or withdrawn.
3) Large Variety of Currency Pairs:
With Prime-Coin, you enjoy a massive range of currency pairs, in addition to the aforementioned GBP/USD and EUR/USD pairs. Other Prime-Coin tradable currency pairs include:
- GBP/AUD
- GBP/CHF
- GBP/CAD
- GBP/NZD
- GBP/JPY
This means that even if you are interested in a less common trading pair, you are highly likely to find it at Prime-Coin.
4) Premium Customer Service:
Prime-Coin understands that FOREX trading is a 24-hour affair, which is why it makes its customer service available at all hours of the day. Regardless of the time, Prime-Coin’s live representatives are just phone call or an email away.
In addition to that, the Prime-Coin website contains a comprehensive list of frequently asked questions (FAQs), each with a detailed, explanatory answer.
5) Robust Trading Platform:
Prime-Coin’s trading platform offers all the fundamental and technical analysis tools that you will require during your FOREX trading process.
In addition, you can use the platform to easily enter or exit any trade at any time: the platform has clear ‘sell’ and ‘buy’ buttons, as well as a ‘panic’ button which will automatically shut down all open positions.
Other than that, the platform offers automated trading, back-testing features, strategy builders, and trading notifications and alerts. Prime-Coin also offers a demo account where you can get a feel for the trading platform before opening your account and submitting an initial deposit.
Final Word:
In conclusion, Prime-Coin ticks all the boxes that a comprehensive trading platform should tick, from a strong and intuitive platform to attractive margins and commissions. To learn more about Prime-Coin or to open an account, please feel free to visit this website.
(Photo by Ibrahim Boran on Unsplash)
Caroline is doing her graduation in IT from the University of South California but keens to work as a freelance blogger. She loves to write on the latest information about IoT, technology, and business. She has innovative ideas and shares her experience with her readers.
