PRCBroker

What is PRCBroker？

PRCBroker is a regulated broker that offers a range of financial trading instruments and services to its clients. It provides two types of accounts for trading - Standard and ECN, with different minimum deposit requirements, leverage options, and cater to different types of traders.

The broker also offers trading opportunities in several markets including Forex, precious metals, crude oil, and stocks. PRCBroker provides access to the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, and a new MAM account management system called KingsMam for fund managers.

However, specific details about their spreads, commissions, and deposits and withdrawals are not disclosed publicly but can be accessed once you have a PRCBroker account. They offer 24/5 customer support service through multiple channels.

Pros & Cons

Pros:

Regulated: PRCBroker is regulated by the Cyprus Securities and Exchange Commission (CYSEC) and offshore regulated by the Vanuatu Financial Services Commission (VFSC), providing an added layer of security for traders.

Diverse Market Instruments: PRCBroker provides a wide range of market instruments for trading, including Forex, precious metals, crude oil, and stocks, catering to diverse trading needs.

Multiple Account Types: It offers different types of accounts (Standard, ECN, and Kings Mam), targeting various types of traders from beginners to professionals.

Trading Platforms: PRCBroker uses MetaTrader 4 and MetaTrader 5 trading platforms that are known for their advanced functionalities and user-friendly interfaces.

Customer Support: It provides 24/5 customer support via online chat, phone, and email.

Cons:

Account Requirement for Information: Specific information related to spreads, commissions, and procedures for deposits and withdrawals is not disclosed publicly and requires a PRCBroker account for access.

High Minimum Deposit: The minimum deposit for the ECN account is quite high ($50,000), which may not be affordable for all traders.

Lack of Transparency: Not openly sharing information about fees, deposits, and withdrawals could indicate a lack of transparency from PRCBroker.

Geographic Restrictions: PRCBroker does not provide services to residents of certain countries such as the USA, Canada, North Korea, etc.

Is PRCBroker Safe or Scam？

PRCBroker is a regulated broker, holding valid licenses from prominent financial regulatory bodies. It operates under the supervision of the Cyprus Securities and Exchange Commission (CYSEC) with a Straight Through Processing (STP) license, bearing the number 253/14. This ensures it operates transparently within the regulatory framework of Cyprus, thereby protecting the interests of its traders.

PRCBroker also holds an offshore retail forex license numbered 14788 from the Vanuatu Financial Services Commission (VFSC). This license regulates its operations for traders who are out of Cyprus.

Regulated brokers are highly recommended as they are bound by the standards and regulations imposed by these financial authorities, providing an added layer of security for traders.

Market Instruments

PRCBroker delivers a diverse range of financial instruments for trading, offering its clients a broad spectrum of opportunities to diversify their trading portfolio. Their offerings span across several markets, including Forex, enabling traders to speculate on the movements of major, minor, and exotic currency pairs.

The broker also presents opportunities for trading in precious metals such as gold and silver, allowing traders to capitalize on the volatility of these markets.

In addition, PRCBroker provides access to the energy market, allowing clients to trade in crude oil products.

On top of this, the broker also grants the ability to buy or sell shares of various well-established companies, offering considerable exposure to the global stocks market.

This wide array of financial instruments underlines PRCBroker's commitment to cater to different trading preferences and styles.

Account Types

PRCBroker provides its traders with Standard and ECN accounts. The Standard account, optimal for novices or intermediate traders, necessitates a minimum deposit of 500 USD.

Alternatively, for seasoned or professional traders, the ECN account is available, although it asks for a significantly higher minimum deposit of 50,000 USD.

Additionally, PRC has introduced a fresh account management system known as KingsMam, specifically designed for fund managers. This MAM (Multi Account Manager) system facilitates fund managers to manage multiple accounts efficiently and simultaneously, providing a solution for investors to leverage the expertise of professional traders. It essentially streamlines the process and handles the administrative complexities of multi-account management.

How to Open a PRCBroker Account？

Opening an account with PRCBroker usually involves the following steps. However, the exact steps might vary, and you should always refer to the official website for the most accurate information.

Step 1: Visit the PRCBroker official website and click on the “Login” button.

Step 2: You'll be directed to the account registration page where you'll need to provide personal details. This usually includes your name, nationality, contact information, etc.

Step 3: After you've filled out all the necessary fields, you'll have to agree to their terms and conditions and privacy policy. Before agreeing, make sure to read and understand all the policy details, especially those regarding risks and fees.

Step 4: When your registration form is completed and submitted, the broker typically sends a confirmation email. You should check your email inbox, click the link or button provided in the confirmation email to verify your registration.

Step 5: After verifying your account, you might be asked to complete a Know Your Client (KYC) process, which involves providing identification documents to verify your identity and address. This usually includes a copy of your passport or other ID and a recent utility bill or bank statement.

Step 6: Once your account is verified, you can deposit funds into your account. The deposit process varies depending on the broker, so make sure to follow their instructions.

Step 7: After depositing funds, your account should be ready for trading.

Remember, it's important to only invest funds you can afford to lose, as trading involves high risk. Also, practice on a demo account, if available, to familiarize yourself with the trading platform before live trading.

Leverage

PRCBroker provides different leverage options for its two account types. For the Standard account, traders can avail a leverage of up to 1:100. This means for every dollar of capital they have, they can control up to 100 dollars worth of securities.

In contrast, the ECN account offers a lower leverage of up to 1:50. Therefore, for every dollar in their account, traders can manage securities worth up to 50 dollars. It's important for traders to understand that while leverage can amplify profits, it can also magnify losses, so it should be used responsibly.

Spreads & Commissions

PRCBroker does not disclose specific information about their spreads and commissions on their public platform. Typically, this information helps traders to understand the cost of trading with a broker.

In this case, I would recommend reaching out directly to PRCBroker via their official website or customer service. They should be able to provide more details about their fee structure including spreads and any applicable commissions.

Always remember to understand all the fees associated with any broker before starting to trade. It's important to ensure the broker is transparent about their cost structure and that it aligns with your trading goals and strategies.

Trading Platforms

PRCBroker offers its clients the use of both MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms. These platforms are well-regarded in the industry for their advanced functionalities, customizability and user-friendly interfaces.

MT4 is known for its robust charting capabilities, wide range of technical indicators, and the ability to use and create Expert Advisors (EAs) for automated trading.

On the other hand, MT5, as an upgrade of MT4, boasts enhanced features such as additional timeframes, more technical and fundamental analysis tools, and the ability to trade a wider variety of instruments.

By offering both platforms, PRCBroker is catering to a wide spectrum of traders with varying trading needs and strategies.

Deposit & Withdrawal

PRCBroker does not provide specific public information about their deposit and withdrawal processes. These details, which are critical to the convenience and efficiency of trading, are only available once you have registered and opened a PRCBroker account.

PRCBroker minimum deposit vs other brokers

While this may be part of the broker's privacy or security measures, it is advisable to reach out directly to them or consult their customer service to get clarity about their deposit and withdrawal processes and any associated fees. This will help you to better understand their operations and decide if their policies align with your requirements and expectations.

CRM system

PRC's CRM system, seamlessly integrated with MT4/5 platforms, is developed by experts with extensive experience in the forex industry. It features advanced technology, robust functionality, and ease of use, supporting multiple languages and offering continuous upgrades. The system excels in customer management by allowing real-time monitoring of transactions and account statuses and ensuring the authenticity of customer identities. Additionally, it includes an efficient IB management system with a clear hierarchy and comprehensive commission reports. For security, it employs advanced encryption and anti-DDoS technologies, with options for hosting on high-level overseas data centers to meet specific client needs.

Automatic trading system

PRC's automatic trading system, developed by their R&D team, provides rapid trade execution with millisecond precision, serving as an efficient trading assistant for investors. This system operates without a platform interface and is compatible across platforms once linked to an MT4 account. Key functionalities include forward and reverse trading, customizable settings based on lot size or capital ratio, and compatibility with EA billing accounts.

Customer Service

PRCBroker is committed to providing support to its clients round the clock and hence, offers customer service 24 hours a day, five days a week. Their customer support team can be reached through several channels.

For instant communication, there is an online chat option available on their website.

Alternatively, you could also get in touch with them via phone. For Cyprus-based clients, the contact number is +357-9623-6568 and for those based in Vanuatu, the contact number is +678-513-1393.

If you prefer communication through email, you can write to them at support@prcbroker.com. This comprehensive support system ensures that all client queries and issues are promptly addressed.

Frequently Asked Questions (FAQs)

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. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.