Priectw Information
Priectw is a global company headquartered in the United States, full name Priectw Limited, with authoritative FinCEN regulation in the United States, regulation number: 31000276858271.
Priectw insists on being trader centric, offering traders a wide range of financial trading instruments, including CFDS on currency pairs, energy, commodities and indices, to meet the trading and investment needs of its clients.
Pros and Cons
Is Priectw Legit?
What Can I Trade on Priectw?
Priectw says it provides 3 types of trading instruments, one is foreign exchange, support two-way trading, up and down can be traded, the second is commodities, to achieve anytime and anywhere monitoring market trends, the third is the stock index, with flexible trading lot, traders can participate in the world market.
Account Types
Priectw has 2 types of accounts: Standard account and ECN account. What they have in common is that they all offer instant execution and the same trading products, including more than 250 currency pairs, indices, commodities and equity CFDS, and all offer leverage ratios of up to 500:1, with a minimum deposit requirement of $200.
The difference is that the standard account has a minimum spread from 1 point, while the ECN account offers a minimum spread from 0.0 points, and the ECN account is more competitive in terms of spread. Standard accounts do not charge commissions, while ECN accounts charge a commission of $6 per round of trading.
The broker's official website provides a 4-step account opening process. Just find the “Open Account” button on the official website and click it to open an account in order. You can also use the free demo account offered by the company to try it out before officially opening your account.
Priectw Fees
In the trading products of the broker, in addition to the high spread of some products, the spread of other products is relatively low, indicating that its trading costs are low and its liquidity is good.
Priectw Spreads
In the forex pairs provided by Priectw, the spread of EUR/USD is 0.0, and the spread of various forex pairs ranges from 0.0 to 0.4, it is within the acceptable range. Compared to forex, the spread of commodities is wider, staying between 0.2 and 1.8. It shows that the liquidity and trading value of different commodities differ greatly. Indices' spreads range from 0.2 to 1.9.
Trading Platform
Customer Service
Unfortunately, the broker did not announce its phone number, email address and other contact information to the outside world. All we know is that it's available 24/5, and its website is available in 10 languages.
The Bottom Line
Under the strong supervision of FinCEN, Priectw provides an advanced MT4 platform to meet the needs of traders and offers competitive spreads from 0.0 pips as well as account types from 0 commission, which is ideal for traders looking for low trading costs and high liquidity. However, unfortunately, the broker's customer service resources are very poor, which may affect the timely communication between traders and the broker.
FAQs
Is Priectw safe?
Yes. Priectw holds institutional regulatory support and a specific license number, so Priectw is regulatory secure.
Is Priectw good for beginners?
Yes. The availability of the advanced and user-friendly MT4 platform, Priectw is suitable for beginners from this point of view. Second, the free demo account offered by Priectw is especially helpful for novices to practice and familiarize themselves with trading.
Is Priectw good for day trading?
Yes, Priectw is a good choice for day trading because it has a low spread, starting at 0.0 for forex pairs, which is crucial to keeping trading costs low, especially for high-frequency trading activities. The instant execution offered by the MT4 platform is also beneficial for day trading where orders need to be executed quickly.
