PRIORFX

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About company:

Founded in 2013, STP broker PriorFX offers trading in more than 40 currency pairs, precious metals, commodities, indices, CFDs on the MetaTrader 4 platform.

The trademark is owned by the Cyprus investment firm PriorFX Ltd., registered in the European Union and licensed by the Cyprus Securities and Exchange Commission (CySEC).

CySEC applies certain rules to Cypriot investment firms. For example, in order to prove their sound financial position, they must have a capital of at least 730,000 euros. In addition, the commission requires brokers to keep client funds in separate accounts separate from the company's operating funds.

As an additional cash guarantee, all CySEC regulated companies are members of the Investor Compensation Fund, which can pay compensation up to € 20,000 if the company goes bankrupt.

Trading conditions

PriorFX offers one of two types of trading accounts: Standard and Xchange. The only difference between the two is that there is no commission charged on the Standard account, while the Xchange account includes commission and offers significantly lower spreads. The minimum deposit for both accounts is the same - $ 250, the maximum leverage is 1: 200, and micro lots are available for trading on both accounts.

Spreads and commissions

PriorFX offers floating spreads. The average spread for the EUR / USD pair is around 1.5 pips on a Standard account. Compared to offers from other brokers, this figure is in the industry average. The spreads on the Xchange account for the same currency pair are on average 0.5 pips, and the commission is $ 8, so the trading costs on this account are about 1.2 pips per lot.

Trading platform

This broker supports the standard Forex MetaTrader4 (MT4) trading platform.

MT4 is a world famous trading terminal offering a full range of trading tools and resources: more than 50 built-in technical indicators, an advanced graphing package, a wide range of advisors and extensive testing capabilities. Traders can download ready-made or create their own strategies. In addition, this broker provides EA Programming support. MetaTrader 4 is available to PriorFX clients as desktop, mobile and web versions.

PriorFX partners with MyFXbook to enable clients to copy trades from successful traders. The AutoTrade service is easy to use and quickly gained popularity among traders. One of its many benefits is that a trader does not need to install software to join the Social Trading community.

Ways of payment

PriorFX supports the following payment methods: credit / debit cards, bank transfers and electronic payment systems Skrill, Neteller, Yandex.Money, WebMoney, Qiwi, UnionPay China.

In addition, customers can use their PriorFX card for deposits and withdrawals. The currencies accepted by the broker are USD, CHF, GBP and EUR.

FAQ - BROKER QUESTIONS PRIORFX

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Can the broker PRIORFX be considered honest?
Before any trading and choosing a broker, you should always read reviews on our portal, as well as on other resources. Brokers that are honest have a rating above 3.8. There is also always a risk of losing investments when trading CFDs. Be careful and read the risk warning on the broker's website. PRIORFX received a rating of 1 out of 5 on our resource.