Prime Brokerz Review
One of the leading marketing platforms, in the modern world of marketing, is Prime Brokerz, which is characterized by the efficient indicator implementation. The platform offers up-to-date technical instruments and guarantees high payout percentages that can reach 96%.
The minimal sum that must be available on the real Prime Brokerz account equals $250 while the highest possible deposit is $250,000.
The critical advantage of the broker over the similar platforms is the possibility to receive extremely high payout (up to 96%). The interesting feature is also that the payout is not influenced by expiration changes. For instance, it is possible putting EUR/USD on trade with different expiries (let’s say, the 1-minute and daily expiration) while the payout will reach 94% in both cases.
The combination of the indicators’ availability with the high payout rate attracts the attention of traders to the broker. Still, the question about the trustworthiness of the broker is still open.
Thus, the first issue that throws the shadow of doubt on the platform is its unregulated character and the fact that the company is based on Marshall Islands. Except of that, the Prime Brokerz seems to be quite efficient and operates optimal technical tools.
General Information
The company, which established Prime Brokerz platform, is called Danesi Global Ltd. The office of the form is based on the Marshall Islands. The company reveals the intention to apply the CySEC registration, although the date of the operation remains unclear.
While the status of an unregulated broker allows accepting traders from the whole world, it rejects the usage of the platform by American customers.
The peculiarities of the broker
- Marketing Indicators
- The broad scope of expirations
- High payout rates (96%)
- The big amount of available assets
Broker Platform
The firm, which based the Prime Brokerz broker, is named AirSoft Ltd. The latter additionally provides its services to FX and CFD. The trading platform operates rare software under the name AirSoft. Like mentioned previously, the broker has a critical advantage, which is the possibility for the traders handling technical analysis with the assistance of marketing integrators.
Expiration
The variety of available options, on Prime Brokerz, is quite narrow. In fact, only “call” and “put” options may be put on trade. However, one can select from a big variety of expirations. Thus, short-term acts fit in the space between one minute and one hour while the long-term ones are daily and can be launched after every quarter of an hour. The new function of the system is a count down that determines automatic expiry setting.
The pro is that it is possible purchasing an option that was put on a daily expiration for 21:00 or 20:00 GMT as there is a closure of New York exchange. Weekly and monthly expirations are available as well.
Payouts
With this platform, one is able deriving big payouts in the period of 1 minute. Thus, working with any other standard platform brings, generally, 70% payout while Prime Brokerz can bring 94% profit. The same concerns daily expiries since they bring a 15% higher payout than the correlative options on other brokers.
Indicators
The broker presents candlesticks, lines and areas, as well as OHLC charts. Concerning the indicators, Bollinger Bands, averages, Stochastic, SMA, EMA, RSI, and MACD may be accessed.
Assets
The range of provided assets is quite broad. Thus, the platform suggests more than 100 stocks, 10 indices, 15 commodities, and 40 Forex pairs.
Mobile Application
Although mobile application is still unavailable for the broker users, the platform managers are planning on developing the app for Android and iOS systems, in the nearest time. Still, currently one can apply web platform on any mobile devices as well.
Demo Version
One can not run a demo version on Prime Brokerz. However, some parameters (indicators & pricing charts) can be tested after a free registration.
Real Account
The platform states that the most efficient account type is the one, which operates a deposit of $10,000 in value. With the account, one may receive the results of withdrawal processing in 24 hours. Moreover, it makes possible tracing the real trading signals. Additionally, having an account allows getting trading analyses per e-mail, as well as taking part in online marketing sessions.
Bonus
Although the instructions on bonus receiving are not listed on the official site, it is possible receiving a 100% deposit bonus if a trader requires one. You have to take into attention that requiring a bonus means blocking a deposit until the requirements’ completion.
Withdrawals and Deposits
There is a variety of payment methods that can be used on the broker: Skrill, Wire, Neteller, VISA, and MasterCard. Processing one’s resources on Prime Brokerz can not be sustained without passing a previous personality and address identification. The time of withdrawal processing is quite lengthy. Thus, it takes up to 7 working days to receive a transfer while the same action may be completed in 3 days on other platforms.
There is a fee on withdrawal in case the deposited sum exceeds $500. In the case of depositing more than $500, the fee can reach 5% from the deposit sum. The assignation of the fee is predetermined in the regulations. Obviously, the fee grows with a deposit increase.
The fee rule is a critical disadvantage of the broker, taken into account that other platforms typically provide a free withdrawal opportunity every month while Prime Brokers requires the fees of $25 and more. Thus, one only has to expect that the rule is going to be changed.
In order to request the withdrawal, you must require minimum $100 and maximum $10,000 in one month.
Platform Academy
There are no trading school or YouTube tutorials on the platform site. Demo version is absent on Prime Brokerz as well, which is why the traders find it hard perceiving the trading rules.
Support
The team of support service mostly includes the managers, who may want to misuse the resources of users that lack trading experience. This tendency evolves due to the unregulated character of the company, which is why we do not recommend using support’s assistance.
Advantages
- The usage of marketing indicators on the platform
- The high payout, which may reach 96%
- A big selection of expirations
Disadvantages
- The absence of broker regulation
- Fees on withdrawal are high
- Unavailability of demo version
- Managers operate traders’ resources
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