PU Prime Information

PU Prime is a forex and CFD broker that was founded in 2016 and is based in Australia, offering popular instruments, including Forex, Indices, Commodities, Cryptocurrencies, Metals, Shares, Bonds, ETFs. PU Prime provides five different account types including Cent, Standard, Prime, Pro, Islamic, with each account offering different features and benefits such as minimum deposit requirements, spreads, and leverage. Leverage offered by PU Prime ranges from 1:500 to 1:1000. The minimum deposit required to open an cent account with PU Prime is $20.

Regard trading software, PU Prime offers both the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms to its clients, known for its user-friendly interface and advanced trading tools.

Is PU Prime Legit？

PU Prime Limited is regulated by the Seychelles Financial Services Authority under a Retail Forex License. The license number is SD050. PU Prime Limited operates as an offshore regulated entity. Additionally, PU PRIME (PTY) LTD is regulated by the Financial Sector Conduct Authority, while the regulatory status is exceeded regulation. The license number is 52218, and the effective date is 2022-03-11.

Pros and Cons

PU Prime offers several advantages for traders, including a wide range of tradable instruments, low spreads, high leverage, and user-friendly trading platforms. Additionally, PU Prime provides excellent customer support, educational resources, and a variety of account types to cater to different traders' needs. However, there are some potential downsides to consider as well. PU Prime charges high non-trading fees, which may be a deterrent for some traders. Additionally, the broker's minimum deposit requirements for some account types may be higher than what some traders are comfortable with.

Market Intruments

PU Prime offers some popular instruments, including popular currency pairs like EUR/USD, GBP/USD, and USD/JPY, as well as minor and exotic pairs.

In addition to forex, PU Prime also provides access to a variety of indices, such as the S&P 500, FTSE 100, and NASDAQ, allowing traders to diversify their portfolios and take advantage of global market movements. Commodity trading is also available with PU Prime, featuring popular options such as gold, silver, crude oil, and natural gas.

Cryptocurrency enthusiasts can trade popular digital assets such as Bitcoin, Ethereum, Litecoin, and Ripple. PU Prime also offers metal trading, allowing clients to trade silver and gold, as well as stock trading, including a variety of shares from top companies such as Amazon, Apple, and Microsoft.

Furthermore, PU Prime provides bond trading and access to exchange-traded funds (ETFs) to offer even more investment opportunities.

Account Types

As for trading accounts, five options are available: Cent, Standard, Prime, Pro, and Islamic.

The Cent account is designed for beginner traders who want to start trading in small amounts. This account type has a minimum deposit requirement of just $20 and offers fixed spreads, making it an ideal choice for those who are new to trading.

The Pro account seems to be designed for traders who are just starting out in forex trading. This account type requires a minimum deposit of $50 and offers spreads from 1.3 pips.

The Standard account is the most popular account type and is suitable for most traders. It requires a minimum deposit of $50 and offers variable spreads. Traders can access a wide range of trading instruments, including forex, indices, commodities, and cryptocurrencies.

The Prime account is designed for advanced traders who require fast execution speeds and tight spreads. This account type requires a minimum deposit of $1,000 and offers ECN spreads starting from 0 pips. Traders can access a wide range of trading instruments, including forex, indices, commodities, and cryptocurrencies.

The Islamic account is designed for clients who require Sharia-compliant trading solutions. This account type offers swap-free trading and is available to clients of all levels.

Other account features include

• Expert Advisors (EA) trading tool
• Negative balance protection
• Autochartist
• Trading signals
• Daily news update
• Market analysis (daily live-broadcast)
• Economic calendar

How to Open an Account？

• To open an account with this broker, you need to first visit their website and click on the “Live Account” button.

• You will be required to fill out a registration form with your personal information, such as your name, email address, and phone number.

• After completing the registration form, you will need to verify your identity by submitting some form of identification, such as a passport or driver's license. You may also be required to submit proof of address, such as a utility bill or bank statement.
• Once your account is verified, you can proceed to make a deposit. The minimum deposit amount varies depending on the type of account you have selected. You can make a deposit using various payment methods such as bank transfer, credit/debit cards, and electronic payment systems.
• Once your deposit has been processed, you can start trading using the trading platform provided by the broker. You may also be required to complete some additional steps such as setting up your trading account and configuring your account settings before you can start trading.

Leverage

PU Prime offers leverage of up to 1:500, which is a relatively high leverage compared to other brokers in the industry. The high leverage can be beneficial for traders who want to take larger positions with a smaller capital investment. However, it is important to note that high leverage also comes with high risk, as losses can exceed the initial investment.

Spreads & Commissions (Trading Fees)

Spreads and commissions, also known as trading fees, are the costs that traders incur when opening and closing positions on the market. PU Prime offers variable spreads starting from as low as 1.3 pips for its Cent, Standard, Pro and Prime account types. Additionally, this broker offers a zero-commissions trading environment on its Cent, Prime and Pro accounts. Islamic and Prime accounts charge a commission of $3.5 per lot per side.

Non-Trading Fees

Non-trading fees are the fees that brokers may charge their clients for services not directly related to trading, such as deposits, withdrawals, account inactivity, and currency conversion. Here is an overview of the non-trading fees of PU Prime:

Deposits: PU Prime does not charge any fees for deposits made through bank transfers, credit/debit cards, or e-wallets. However, clients should check with their payment providers for any fees they may charge.

Withdrawals: PU Prime does not charge any fees for withdrawals made through bank transfers or e-wallets. However, for withdrawals made through credit/debit cards, the broker charges a fee of 2% of the withdrawal amount, with a minimum of $5 and a maximum of $30.

Account Inactivity: If a client's account remains inactive for a period of 180 days, PU Prime will charge an inactivity fee of $15 per month until the account is reactivated or the balance is reduced to zero.

Currency Conversion: PU Prime charges a fee of 2% for currency conversions on deposits or withdrawals made in a currency different from the account's base currency.

Trading Platform

PU Prime offers two choices of the most popular trading platforms in the industry: MT4 and MT5. Both platforms are available for desktop and mobile devices and come with advanced charting tools, technical indicators, and a wide range of customization options. Traders can also use Expert Advisors (EAs) and algorithmic trading strategies through these platforms.

MT4 is known for its stability, security, and user-friendly interface. It has a wide range of features that make it an ideal choice for both novice and experienced traders. On the other hand, MT5 is the newer version of the platform that comes with additional features and tools, including an economic calendar, more technical indicators, and a built-in strategy tester.

Here is a table format for the comparison of trading platforms between PU Prime and other brokers:

Autochartist

PU Prime offers the Autochartist tool to its clients, which is a powerful technical analysis tool that scans the market for trading opportunities based on chart patterns, Fibonacci patterns, and key levels. Autochartist also provides traders with an estimated probability of success for each opportunity and can be accessed through the MT4 and MT5 platforms.

Traders can use the Autochartist tool to identify trading opportunities and set up automated trading strategies based on their analysis. This tool can also be used to set up price alerts and receive notifications when a specific trading opportunity presents itself.

Deposit & Withdrawal

PU Prime offers over 10 deposit and withdrawal methods to its clients. The available methods include bank wire transfer, credit/debit cards (Visa and Mastercard), electronic payment systems (Skrill, Neteller, Fasapay, Sticpay, Bitwallet, America Express, VLoad, AstroPay, and more), and local payment methods. PU Prime does not charge any deposit fees, and the minimum deposit amount varies depending on the account type, starting from $10 for the Cent account.

Withdrawals are typically processed within 24 hours, and there are no withdrawal fees for most of the methods. However, some third-party payment providers may charge a fee, which will be deducted from the client's account balance. PU Prime requires clients to withdraw funds using the same payment method that was used for depositing, up to the deposited amount. If the withdrawal amount exceeds the deposited amount, clients can choose a different withdrawal method. PU Prime also reserves the right to request additional documentation to verify the client's identity and protect against fraud.

PU Prime Copy Trading

PU Prime's copy trading feature, facilitated through the PU Social app, can enhance the trading experience, especially for those new to the financial markets.

By using PU Social, users can easily select and follow master traders. This allows them to replicate the trading strategies and results of seasoned professionals directly in their own accounts. Simply choose a professional trader within the app, and start copying their trades to begin seeing similar results in your own trading activities.

This feature not only simplifies the learning curve but also provides a practical way to potentially increase trading success by leveraging the expertise of experienced traders.

Customer Support

PU Prime provides customer support through multiple channels, including phone, email, and live chat. The customer support team is available 24/5, from Monday to Friday. They are responsive and knowledgeable, and can assist with various account-related inquiries such as account opening, funding, and technical issues with the trading platform. In addition, the broker has a comprehensive FAQ section on its website that covers a wide range of topics, including account types, trading instruments, trading platforms, funding, and more.

Educational Resources

PU Prime offers solid educational resources for its traders. These resources include video tutorials, a blog, e-books, and a glossary. The video tutorials cover a wide range of topics, including basic trading concepts, technical analysis, and strategies for trading different financial instruments. The blog provides traders with up-to-date market news, analysis, and commentary. The e-books are designed to provide in-depth knowledge on specific trading topics, such as chart patterns and trading psychology. The glossary is a comprehensive reference tool that defines key terms and concepts used in trading.

Conclusion

PU Prime is a well-regulated Australian broker that offers a wide range of trading instruments, competitive spreads, and multiple account types to satisfy the needs of different traders. The broker's MetaTrader 4 and 5 platforms are user-friendly and customizable, and the availability of Autochartist is a valuable addition to technical analysis.

However, the minimum deposit required to open some account with PU Prime is relatively high, and the broker's non-trading fees can be quite steep. Additionally, the broker does not offer any bonuses or promotions to its clients, which may be a disadvantage for traders looking for incentives to trade.

FAQs

Is PU Prime a legit broker？

Yes, PU Prime is regulated by both CySEC and FSA.

What tradable instruments does PU Prime offer？

PU Prime offers access to popular trading instruments, including forex, indices, commodities, cryptocurrencies, metals, shares, bonds, and ETFs.

What trading platforms are available at PU Prime？

PU Prime offers both the MT4 and MT5 trading platforms.

Does PU Prime offer educational resources for traders？

Yes, PU Prime provides educational resources such as video tutorials, a blog, e-books, and a glossary.

What is Autochartist and does PU Prime offer it？

Autochartist is a tool that helps traders analyze market data and identify potential trading opportunities. PU Prime offers Autochartist to its clients.

Is PU Prime good for beginners？

Yes, Pu Prime is a solid choice for beginners, as it is a strictly regulated broker that allows low-budget trading, and it also offers both MT4 and MT5 and solid educational contents.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then.

Overview of SBI FXTRADE

SBI FXTRADE is a Forex broker and a part of the SBI Group, a leading online financial services company in Japan. Its service allows users to engage in foreign exchange (FX) margin trading. The platform offers real-time market information and various analysis tools, which can assist both novices and experienced traders in their decision-making process.

The SBI FXTRADE platform boasts of features such as narrow spreads and 24-hour trading. It also offers a demo account option for practice. Additionally, there is a user-friendly interface which simplifies the process of FX trading and a mobile application for trading on the go. It is essential to remember that just like any other type of trading and investment, forex trading involves certain risks which should be thoroughly understood before participating.

Regulation

SBI FXTRADE is a regulated broker under the jurisdiction of Japan. The platform is licensed as a Retail Forex License holder and is overseen by the Financial Services Agency of Japan. The license number is 関東財務局長（金商）第2635号 and the official licensed institution is ＳＢＩ ＦＸ トレード株式会社. The license was effectively granted on 13th April 2012. However, there is no shared email address of the licensed institution. It's crucial to trade with a regulated broker as it provides a certain level of security and oversight.

Pros and Cons

Pros:

1. Wide Range of Trading Instruments: SBI FXTRADE offers an extensive range of 34 currency pairs for trading, making it an attractive platform for those who wish to diversify their trading portfolio.

2. Quick Deposits: The platform provides a quick deposit feature that starts from 1,000 yen with no associated fees.

3. Regulation: SBI FXTRADE is regulated by the Financial Services Agency of Japan, adding a higher level of security and trustworthiness.

5. User-Friendly Interface: The platform has a user-friendly interface that simplifies the process of FX trading, making it easier for beginner traders to navigate.

6. Demo Account: SBI FXTRADE provides a demo account which allows users to practice trading strategies before investing real money.

7. 24-Hour Service: The platform facilitates 24-hour trading, enabling traders to take advantage of global forex market hours.

8. Mobile Trading: SBI FXTRADE offers mobile trading platforms for users to trade on the go.

Cons:

1. Deposit Fees: While quick deposits are free, other deposit methods such as the “normal deposit” method have associated transfer fees that will be borne by the customer.

2. Delay in Reflection of Deposits: Certain deposit methods may not immediately reflect the deposited amount in the trading account. If any error occurs, the reflection of deposit will have to wait till the confirmation of payment receipt.

3. Fees on Some Services: For certain services, such as normal deposits, transfer fees will be borne by the customer.

Market Instruments

SBI FXTRADE provides its users with the opportunity to trade in a total of 34 currency pairs. This offering is considered to be one of the highest in the industry, giving traders a wide range of options when it comes to choosing their trading instruments.

It signifies that traders have the opportunity to capitalize on the movements of various currencies ranging from major currency pairs to minor and exotic ones. However, it's always important for traders to understand the risks associated with each trading instrument before investing.

How to open an account？

1. The first step would be to navigate to the “Complete application in” button at the top right side of the page.

2. Please enter your email address using the submit button that is below the “apply for a personal account” sign. An account opening application URL will be sent to the email address you entered.

3. Enter your name, date of birth, and current address as in the identity verification document. The user is required to have a Japanese “MyNumber” identification in order to continue to after this step.

4. After the information has been examined, SBI FXTRADE will determine if the account creation process will be completed.

Minimum Deposit

SBI FXTRADE offers two different methods of depositing funds: quick deposits and normal deposits.

Quick deposits start from 1,000 yen, with no associated fees. It's important to note that applications cannot be accepted during maintenance times performed by the broker or financial institutions.

Deposit & Withdrawal

SBI FXTRADE provides several methods for depositing and withdrawing funds.

For making deposits, there are three methods available:

1. Quick deposits: This method allows clients to deposit funds starting from 1,000 yen with no associated fees. However, deposition isn't guaranteed to reflect immediately - errors might delay the reflection of the deposit.

2. Normal deposits: This involves a money transfer to a created “Customer Dedicated Deposit Account”. Note that transfer fees are borne by the customer unless they are an SBI Shinsei Bank account holder depositing into the “SBI Shinsei Bank account exclusively for SBI FX Trade”.

3. Deposit to SBI Shinsei Bank: This method involves a money transfer to the dedicated SBI Shinsei Bank account for SBI FX Trade. There are no transfer fees and the customer has to specify their login ID and first and last name in kana in the remittance name.

The following provides more details on deposit confirmation and conditions:

• Payments can be confirmed on the transaction screen.

• Payments may not reflect immediately as they need to be received and confirmed by the bank. This process can take some time during busy periods.

• Deposit processing is done three times a day at 9:00, 13:00, and 15:30.

• Shinsei Bank deposits will be reflected in the FX account and need to be transferred to the savings FX account or the crypto asset CFD account by the user.

Customer Support

SBI FXTRADE offers an array of contact channels enabling seamless and efficient communication:

1. Direct Phone Line: Enabling immediate assistance, the firm can be directly contacted via their dedicated line at +81 0120-982-417.

2. Official Web Portal: An exhaustive array of resources could be found on their official website, SBI FXTRADE.

3. Social Media Presence: Connect with them on Twitter for real-time updates and interactions. They also maintain an active online presence on Facebook and exclusive content on their dedicated YouTube channel.

Educational Resources

SBI FXTRADE provides several educational resources for its traders:

1. Official YouTube Channel: SBI FXTRADE maintains an official YouTube channel where they share informative video content. This includes market news, tutorials, trading strategies, and explanations on various aspects of Forex trading.

2. Today's Exchange News: This is presumably a feature where recent news and events affecting the exchange market are discussed, providing insights to help traders make informed decisions.

3. Crypto Asset Market Information: This channel is maintained by SBI VC Trade, which is also a part of the SBI Group. It provides information related to the crypto asset market.

Please note that Forex trading and trading in general can be risky, so it's essential to fully understand these risk factors and strategies before investing. Educational resources are a starting point, but should not be the only source of knowledge or strategy formulation. Real-time experience, trading practice, and individual research are also critical components of trading education.

Conclusion

SBI FXTRADE, a premium trading firm, offers multiple features tailored towards assisting traders succeed. Key offerings include diverse deposit methods (featuring Quick Deposits), a wide array of trading instruments, a user-friendly platform, and well-developed educational resources. However, potential users should be aware of potential deposit fees and delays, and inherent trading risks.

FAQs

Q: What are some educational resources that SBI FXTRADE provides for traders？

A: SBI FXTRADE offers a variety of educational resources, including a YouTube channel filled with market news, trading strategies, and other trading-related insights, a feature for recent market news, programs providing insights into alternative currencies to USD/JPY.

Q: How can users contact SBI FXTRADE？

A: SBI FXTRADE can be reached through their phone number (+81 0120-982-417), their official website, or their social media accounts on Twitter, Facebook, and YouTube.

Q: What are the unique features of SBI FXTRADE？

A: SBI FXTRADE offers quick deposits without any fees starting from 1,000 yen and is regulated by the Financial Services Agency of Japan for enhanced security.

Q: What cautions should be taken while using SBI FXTRADE or similar trading platform？

A: As with all types of trading and investment, forex trading involves inherent risks. Users should ensure they understand these risks thoroughly before participating.