PrimeFin Review

Overall PrimeFin is a trustworthy and low-risk broker with a high overall rating of 7 out of 10. PrimeFin is authorized and regulated by LFSA and offers leverage up to 1:400.

PrimeFin at a Glance

Choose your short section of our PrimeFin review below.

PrimeFin Review – 22 key points quick overview:

1. PrimeFin at a Glance
2. PrimeFin Review – 22 key points quick overview:
3. PrimeFin Overview
4. PrimeFin Safety and Security
5. PrimeFin  Sign-up Bonus
6. PrimeFin Minimum Deposit
7. PrimeFin Step-by-step guide to depositing the minimum amount
8. PrimeFin Account Types
9. PrimeFin Account Features
10. How to set up a PrimeFin Demo Account – Step by Step
11. PrimeFin Islamic Account
12. PrimeFin Trading Platforms
13. PrimeFin Fees and Spreads
14. PrimeFin Deposit and Withdrawal
15. PrimeFin Best Countries by Traders
16. PrimeFin vs Etoro vs XM – Comparison Table
17. PrimeFin Current Popularity Trend
18. PrimeFin Customer Reviews
19. PrimeFin Pros and Cons
20. Conclusion
21. Disclaimer
22. Frequently Asked Questions

PrimeFin is offering a unique web-based CFD trading platform. Their online trading app is user-friendly, easy to use, and potent enough to fulfill its purpose. Experienced day traders and investors will also enjoy the popular MT4 trading platform, along with the classic mobile trading apps for Android and iOS.

PrimeFin Overview

The headquarters of Caps Solutions Ltd is at Unit B, Lot 49, 1st Floor, Block F, Lazenda Warehouse 3, Jalan Ranca-Ranca 87000, FT Labuan, Malaysia.

A Forex broker like Primefin provides traders with access to one or more platforms that allow them to buy and sell foreign currencies. Forex brokers are also known as retail or currency trading brokers. Retail currency traders in turn use these broker companies to gain access to the 24-hour currency market for speculation purposes.

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

More than 300 underlying assets are available to trade, including CFDs on Currency or Forex Pairs, Crypto Currency, US Stocks and European Shares, Market Indexes, and Commodities.

PrimeFin provides investors with more than 40 currency pairs, including Major, Minor, and Exotic currency pairs. High leverage is also available, depending on the trading account you have chosen. This high leverage is especially enjoyed by many experienced Forex traders.

As a global brokerage firm, Primefin’s website is available in multiple languages including English, Russian, Spanish, Portuguese, and Thai. The minimum deposit required for a live trading account starts at $250 USD, and they offer free Demo Accounts.

PrimeFin Safety and Security

One of the best benchmarks to measure the safety of a broker like PrimeFin is to establish which regulating authorities are watchdogs over its actions.

PrimeFin holds a license from the Labuan Financial Services Authority (LFSA) in Malaysia, and their license number is MB/20/0052. The holding company, Caps Solutions UK Ltd, 12734767, located in London, England, acts as the payment processor for this broker.

PrimeFin follows all the regulations of securities commissions like the MFiD of the EU, and it is a member of the Investors Compensation Funds (ICF).

The broker also keeps clients’ money in segregated bank accounts.

PrimeFin  Sign-up Bonus

PrimeFin does not offer a sign-up bonus.

Brokers often offer such broker bonuses to new traders to draw more customers or to encourage trading activities. Offering a deposit or welcome bonus is the best way in which to assure traders that they will receive some money back depending on the initial deposit made.

Although Primefin does not offer bonuses, rewards, promotions, or competitions traders should not be discouraged by this from registering for a real account as bonuses may still be in the planning and development phases to be announced at a later stage.

PrimeFin Minimum Deposit

This minimum deposit amount was equivalent to ZAR 4 209,45  at an average current exchange rate between the US Dollar and the South African Rand at the time of writing.

PrimeFin has a minimum deposit requirement of $ 250.

PrimeFin’s authorization as a broker and its regulatory authorities may require that client funds must be kept in segregated accounts, separate from the broker account, and that such funds could only be used by traders to conduct their trading activities.

PrimeFin Step-by-step guide to depositing the minimum amount

Traders can fund their accounts by sending the funds to one of the Primefin segregated clients’ accounts from their own bank account or execute the option to deposit the minimum amount from their personal area after a live trading account was registered and had been approved.

Deposits can be made with PrimeFin using the following steps:

Step 1 – Log in

Traders then log into their personal area, select the option for deposits, and follow the instructions to make a deposit into their trading account. Traders must make sure that they select the correct deposit currency if there is a choice available.

Step 2 –Make the deposit

Funds must be transferred in the same currency as the bank account to which they are sent, preventing currency conversion fees from being charged.

PrimeFin Account Types

PrimeFin offers three major account types. They are Silver Account types, Gold Account types, and Platinum Account types. Accounts usually differ in the way spreads or commissions are applied, what minimum deposit is needed to open that type of account, and certain services or advantages that account holders may get access to.

If you are not yet comfortable with FX trading, the Silver Trading Account is a perfect choice. It works well, and offers access to a huge trading market, but with fewer risks.

When a trader has gained enough experience, they can start trading with the Gold Account which is perfect for intermediate investors with enough experience and who are ready to take more risks. Those using this account will have special benefits created especially for them.

The platinum account is ideal for experienced Forex traders, offering unseen execution, low spreads, and no commissions. The leverage can be as high as 1:400, which is considered high.

The minimum deposit required to open the account is $ 250.

PrimeFin Account Features

Key features of PrimeFin’s accounts include the following:

Silver Account

Allows hedging

Leverage – 1:100

Dedicated account manager

Customized investment news

Base currencies – EUR/USD, GBP/USD USD/JPY, AUD/USD, USD/CHF, USD/CAD, NZD/USD, EUR/GBP, and more

Gold Account

Allows hedging

Leverage – 1:100

Dedicated account manager

Customized investment news

Free VPS

Fifth decimal

Swap discount

Base currencies – GBP/USD, EUR/USD USD/JPY, NZD/USD, AUD/USD, USD/CHF, USD/CAD, EUR/GBP, and more

Platinum Account

Allows hedging

Leverage – 1:100

Dedicated account manager

Customized investment news

Free VPS

Fifth decimal

Swap discount

Base currencies – NZD/USD, EUR/USD, GBP/USD, AUD/USD, USD/JPY, USD/CHF, USD/CAD, EUR/GBP, and more

How to set up a PrimeFin Demo Account – Step by Step

To register for, and set up a demo account with Primefin, traders must visit the website and follow the simple steps.

Step 1 – Open Your Account

• To register for a demo account with Primefin, traders must complete the full registration process involved with opening a live trading account. The option to switch to a demo account will only be available once this is complete.
• Traders can select the option to open an account anywhere on the Primefin homepage. This will load a digital application

• Step 2 – Fill out the form

•  This will load a digital application requiring personal information from the trader. Once this has been supplied, the trader can move on to provide their residential information.
• Traders will then be asked whether they would like to make a minimum deposit, or traders can select the ‘not now’ banner to move on to the questionnaire.
• The questionnaire features questions to determine the trader’s level of trading knowledge, skills, and experience. Once completed, traders must upload the relevant documents to verify their identification and residence, also known as the ‘KYC’ procedure.
• Once this is uploaded, the application and uploaded documents will be reviewed.
• Once the trading account is approved and funded, traders will have the option to convert to a demo account.

A demo account is also referred to as a practice account because it provides traders with the ability and freedom to explore a broker’s offering without running the risk of losing money, due to the provision of virtual money with which to ‘trade’.

Demo accounts are not intended for beginners only but provide more advanced traders an opportunity to explore what Primefin has to offer.

PrimeFin Islamic Account

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.

PrimeFin Trading Platforms

The forex trading platform provided by Primefin to its clients is in essence the software to carry out their trades. Some brokers provide only one, others quite a few platforms.

A multi-asset trading platform is one that allows clients to trade forex as well as other asset classes. The decision about which platform to choose will usually depend on what a client would like to trade.

PrimeFin offers WebTrader and a mobile version.

The WebTrader is browser-based and looks exactly like MetaTrader 4, which is one of the most popular trading platforms. MT4 and WebTrader both were developed by MetaQuotes and WebTrader offers investors the ability to trade Forex without having to download any additional applications on their computers.

Features of the Primefin Web Trader platform include a One-click trading option, different execution modes, a free analytical toolkit, history and track of orders, multiple chart windows to compare various assets, and automatic Stop Loss/Take Profit functions.

PrimeFin also offers mobile trading via a special application for mobile users. Thanks to this app, investors can now trade Forex with Primefin with their phones too.

The Mobile Application’s features include a one-tap trading option, different timeframes – M1, M5, M15, M30, H1, H4, D1, W1, and MN are available, 60+ free analytical tools, instant market notifications, in-platform price alerts, live chat, and dedicated support and 1-click account switching.

PrimeFin Fees and Spreads

Primefin’s spreads on EUR/USD start from only 0.7 pips.

Spreads that traders could expect on the company’s spread list at the time of writing, were as follows:

• EUR/USD 0.7 pips
• GBP/USD 1.3 pips
• USD/JPY 0.8 pips
• EUR/GBP 0.9 pips
• USD/CHF 0.9 pips
• EUR/JPY 1.1 pips

No further commissions are charged by the broker on any of its accounts.

PrimeFin Deposit and Withdrawal

Accounts usually require a certain minimum initial deposit, which can be paid in several ways. Withdrawals can usually be done in the same ways, but sometimes differ.

In the case of Primefin, a minimum deposit of $250 is needed to open an account. The broker offers a wide range of payment options and no charges on deposits, but a conditional fee on withdrawals.

PrimeFin payment options include:

Skrill,

Neteller,

SafeCharge,

MIR Limited,

Wirecard,

DECTA,

SSL,

Orange pay,

Payvision,

Trustly,

Paysafe,

VISA,

Merchant pay,

VPay,

Mastercard

Maestro.

It takes 3 to 5 days for withdrawals to be processed, but the processing of deposits is instant. The broker may also charge a fixed amount of your transactions less, or you are inactive for a long time.

PrimeFin Best Countries by Traders

PrimeFin vs Etoro vs XM – Comparison Table

PrimeFin Current Popularity Trend

According to Google Trends, here is an overview of how frequently the search term – “PrimeFin” is entered into Google’s search engine over a given period of time.

PrimeFin Customer Reviews

Technical support is always helpful and…

Technical support is always helpful and responds quickly. An honest brokerage company. Been working with them for a long and never had any issues.

A good broker

They a good broker, with whom I periodically lost money, but in general I earned much more than I lost. The risk of losing money, in general, is always present, regardless of the broker, but PrimeFin has a pretty good set of trading tools.

Legit broker with regulation

In Forex, the first thing to pay attention to is regulation. Paraffin is regulated by the Cyprus Securities Commission and is a fairly reputable institution. Personally, I was surprised by how many trading instruments they have with such low entry thresholds. After analyzing the spread, in the long term, the spread is more profitable for active trading, such as scalping.

PrimeFinPros and Cons

Conclusion

Overall, PrimeFin can be summarised as a credible and trustworthy broker and is considered an average risk with competitive trading fees and spreads.PrimeFin has an overall trust score of 86 out of 100. PrimeFin offers traders the MetaTrader suite of platforms as well as a basic web and mobile app.

Disclaimer

PrimeFin warns potential customers that Forex and CFD trading always carries a risk and may not be suitable for all investors.

Before deciding to trade with Primefin, potential traders are advised to carefully consider their investment objectives, financial situation, needs, and level of experience before investing money they cannot afford to lose.

PrimeFin warns that margin trading involves the potential for profit as well as the risk of loss and that movements in the price of foreign exchange and commodities are very unpredictable, hence Primefin cannot guarantee a maximum loss that a trader may suffer, according to research in South Africa.

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Frequently Asked Questions

Trading environment

Is PrimeFin Broker a fake or a scam?

PrimeFin is a legit broker as it is well regulated and operates as per the rules and regulations of securities commissions such as MiFID of the EU.

Which platforms are supported by Primefin?

PrimeFin provides the following popular trading platforms:

• WebTrader
• Mobile trader

What are the advantages of trading with PrimeFin Broker?

PrimeFin provides investors with more than 40 currency pairs, including Major, Minor, and Exotic currency pairs. Extremely high leverage is also available, depending on the trading account you have chosen. This high leverage is especially enjoyed by many experienced Forex traders.

What type of broker is PrimeFin Broker?

PrimeFin is a leading forex broker and service provider in the market compared to other forex brokers around the world. PrimeFin offers a wide range of trading instruments and an advanced trading platform.

What is the overall rating out of 10 for Primefin?

The overall rating is 7/10.