Note: Prima Futuress official site - https://primafxonline.com is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
What is Prima Futures？
Prima Futures is an online broker registered in Marshall Islands, offering forex currency pairs, metals, indices, etc. there is no evidence that Prima Futures is regulated, so it is unsafe to trade with this broker.
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.
Pros & Cons
Prima Futures Alternative Brokers
There are many alternative brokers to Prima Futures depending on the specific needs and preferences of the trader. Some popular options include:
GF Futures - A prominent futures brokerage firm in China, offering a wide range of futures trading products and services, along with research and advisory support to clients.
SHENGDA FUTURES - A futures company that provides a wide range of services in the commodities and financial futures markets.
HUISHANG FUTURES - A reputable futures brokerage firm in China, providing comprehensive futures brokerage services and risk management solutions to clients.
Is Prima Futures Safe or Scam？
Prima Futures currently has no valid regulation, which means that there is no government or financial authority oversighting their operations.
Besides, the official website of Prima Futures is inaccessible, indicating that the trading platform may have absconded. These make investing with them risky.
If you are considering investing with Prima Futures, it is important to do your research thoroughly and weigh the potential risks against the potential rewards before making a decision. In general, it is recommended to invest with well-regulated brokers to ensure your funds are protected.
Market Instruments
Prima Futures offers a diverse range of trading instruments across multiple asset classes. These include:
Forex: Prima Futures allows trading in the foreign exchange market, giving traders the opportunity to speculate on the price movements of currency pairs. This includes major pairs like EUR/USD, GBP/USD, USD/JPY, as well as minor and exotic currency pairs.
Precious metals: Traders can also engage in the trading of precious metals such as gold, silver, platinum, and palladium. These metals are known for their value and serve as alternative investment options.
Crude Oil: Prima Futures provides the option to trade crude oil, enabling traders to speculate on the price movements of this important energy commodity. Crude oil is widely traded and influenced by various factors like supply and demand dynamics, geopolitical events, and economic indicators.
Indices: Prima Futures offers trading in indices, which are measures of the performance of a group of stocks from a particular market or sector. Traders can take positions on stock market indices such as the S&P 500, Dow Jones Industrial Average, or Nasdaq.
Cryptocurrency: Prima Futures also allows traders to participate in the cryptocurrency market. This includes trading popular cryptocurrencies like Bitcoin, Ethereum, Ripple, and Litecoin. Cryptocurrency trading offers opportunities for potential profit from the price volatility in this emerging digital asset class.
Micro Trade Size
Prima Futures offers a minimum trade size of 0.01 lot, which is indeed considered beginner-friendly. A lot refers to the standardized trading size in the forex market, and a smaller trade size like 0.01 lot allows traders with limited capital or risk tolerance to participate in the market with smaller positions.
Leverage
Prima Futures offers a maximum leverage of 1:400 to its traders. Leverage is a trading tool that allows traders to amplify the potential returns on their investments by borrowing funds from the broker. With a leverage ratio of 1:400, traders can control a position that is 400 times the size of their initial investment.
High leverage ratios can be attractive to traders who seek the potential for significant profits from small price movements in the market. However, it is important to understand that leverage also comes with increased risk. While higher leverage ratios amplify potential gains, they also magnify potential losses.
Spreads & Commissions
Prima Futures offers a spread of 2 pips, which refers to the difference between the buying and selling price of a currency pair. The spread represents the cost that traders incur when executing trades through the brokerage.
Having a higher spread can be considered less favorable for traders, as it increases the cost of trading. A narrower spread would allow traders to enter and exit positions more efficiently, minimizing the impact of the spread on their overall profitability. However, it is worth noting that the spread may vary depending on the currency pair and market conditions.
Besides, due to the unavailable website, there is no access to find out the commission of Prima Futures.
Trading Platform
Prima Futures provides the popular MetaTrader 4 (MT4) trading platform to its clients. MT4 is a widely recognized and widely used trading platform known for its user-friendly interface and comprehensive features. It caters to the needs of both beginner and experienced traders, offering a robust set of tools and functionalities.
The MT4 platform offers a wide range of technical analysis tools, including various charting options, indicators, and drawing tools. Traders can analyze price movements, identify patterns, and make informed trading decisions. The platform also supports automated trading through the use of expert advisors (EAs), enabling traders to execute trades based on predefined strategies.
Customer Service
Customers can visit their office or get in touch with customer service line using the information provided below:
Email: info@primafxonline.com
Moreover, clients could get in touch with this broker through the social media, such as Twitter, Facebook and Instagram.
Conclusion
In conclusion, Prima Futures is a trading platform that offers a range of services to its clients. The platform provides access to various financial markets, allowing traders to diversify their portfolios and capitalize on different trading opportunities. With its user-friendly interface and advanced charting tools, Prima Futures's trading platform, MT4, caters to the needs of both beginner and advanced traders.
However, Prima Futures has many problems. First, it doesn‘t have regulation. Second, it is because the official website of Prima Futures is inaccessible that the relevant information doesn’t be provided, which makes trade not transparent enough. Therefore, traders should verify the regulatory status of Prima Futures or any broker they choose to work with to ensure compliance with industry standards and regulatory requirements.
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.
