Charterprime Account Types

Overall Rating

• 4.0/5

Read Review

OPEN AN ACCOUNT

Min Deposit

USD 100

Regulators

FSP, ASIC

Trading Platform

MT4

Crypto

Yes

Total Pairs

0

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

Charterprime provides five different account types e.g., Standard Account, Demo Account and Islamic Account. Each account type has its own set of conditions for commission, margin call, and leverage, and minimum deposits.

Charterprime Account Types vary according to what traders require. A Forex broker such as Charterprime provides traders with access to platforms that allow them to buy and sell foreign currencies. Forex brokers are also known as retail forex brokers or currency trading brokers. Retail currency traders in turn use these brokers to gain access to the 24-hour currency market for speculation purposes.

Choose your quick section of our Charterprime Account Types below.

Our Charterprime Account Types Revealed:

• ✔️Charterprime at a glance
• ✔️Overview
• ✔️Account Types and Account Features
• Demo Account
• Islamic Account
• Pros and Cons

Here is an overview of the Charterprime Account types as well as the treading features and benefits offered for each account.

Overview

Charterprime is a global financial and foreign exchange brokerage group originally established in New Zealand.

Forex broker services are also provided for institutional clients and large companies such as investment banks.

Charterprime was founded in 2012 and has its headquarters in Sydney, Australia, and in Auckland, New Zealand.

Charterprime management is put together of experts from all over the world, each with extensive real-life experience in the industry. This combined background knowledge and experience have helped Charterprime to become the award-winning broker it is today.

CharterPrime offers the trading of CFDs, Forex instruments, Commodities, Precious Metals, Index CFDs, all provided at low-cost fees and unmatched execution conditions. CharterPrime also uses the STP system that connects orders directly to liquidity partners with which the broker cooperates.

CharterPrime has accumulated several awards during its years of service to traders, including awards as most influential forex broker in Asia in 2019, and best innovative financial service provider, the best investment education platform provider, best STP/ECN broker, most transparent forex broker, and best liquidity provider in 2018.

Apart from this CharterPrime has won three major awards from FOREX EXPO, a well-known conference, and exhibition in 2017.

Account Types and Account Features

Charterprime offers the following types of accounts:

• The CharterPrime Variable Account provides a trading environment where no commissions are charged, and a fluctuating market spread to clients.

• The CharterPrime ECN Account offers traders tight spreads, which is often much tighter than the variable account. The spread can reach as low as 0.0 for some instruments but the account is charged $8 commission per standard lot for all trades.

• The CharterPrime Swap-Free Account designed for those who do not wish to participate in interest charges. The spread is a little higher than the variable account type and the account will be charged $40 per lot as a carry fee on Wednesday.

An electronic communication network (ECN), such as offered by CharterPrime, is a computerized system that automatically matches buy and sell orders for securities in the market. It connects major brokerages and individual traders to trade between themselves directly without going through a middleman.

The ECN earns money by charging a fee for each transaction. It eliminates a third party’s role in executing orders and permits such orders to be entirely or partly executed.

The use of an ECN allows investors to trade outside traditional trading hours and provides a mechanism for traders that cannot be active during normal market times and those who prefer the flexibility of wider availability.

The minimum deposit required to open the account is only $ 100.

Demo Account

Charterprime offers traders the option to open a demo or practice account which can be utilized in several ways, including the following:

• A practice account for beginner traders who wish to hone their trading skills and gain experience in a risk-free environment using virtual funds.
• Traders who want to evaluate and compare brokers and would like to explore Charterprime’s trading conditions in a risk-free environment.
• Traders who want to test their trading strategies in an imitated live trading environment without risking their own capital.

Islamic Account

Charterprime does offer traders who follow the Sharia law the option of an Islamic Account.

Often an Islamic account is provided as an option where traders can convert their live trading account to an Islamic Account, or in other cases, it is a standalone account with a separate application procedure.

The purpose of an Islamic Account is that it caters explicitly to Muslim traders who follow the strict rules of Sharia law. These rules prevent followers from paying any type of interest, such as overnight fees, which are seen as exploitive or wasteful.

Overnight fees are charged when traders hold positions open for longer after the trading day has concluded and this type of account allows exemption from such fees or interest, should traders hold positions open for longer.

Brokers offer an Islamic Account only to Muslim traders who follow Sharia law. Traders must, however, take note that there are certain features indicated on the Islamic account which may differ vastly from the other individual account types, such as minimum deposits, spreads and more.

Traders who are interested in registering for an Islamic account must contact the broker’s customer support team to verify the availability and current conditions of such an account as conditions may have changed from the time of writing.

Overall Rating

• 4.0/5

Read Review

OPEN AN ACCOUNT

Min Deposit

USD 100

Regulators

FSP, ASIC

Trading Platform

MT4

Crypto

Yes

Total Pairs

0

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

Pros and Cons

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Charterprime at a glance

Frequently Asked Questions

How many instruments can I trade with a Charterprime account?

You can trade several different instruments with a Charterprime account, incl:

• Currencies
• Commodities
• Indices
• Stocks
• Futures

Which platforms are supported by Charterprime?

Charterprime provides the popular trading platform MetaTrader 4.

Is a Charterprime trading account recommended for beginners?

Charterprime offers a fair-trading environment for beginners.

What is the overall rating out of 10 for Charterprime?

The overall rating for Charterprime is 7/10.

Does Charterprime have a demo account?

Yes, a demo account is available