Charterprime Forex Broker
Basic Information
New Zealand
5-10 years Regulated in New Zealand Financial Service Corporate Suspicious Scope of Business Suspicious Overrun High potential riskCompany profile
Rating Index
Swap interest fee-free account
ECN account
CharterPrime Forex Broker - Complete Information Guide
1. Broker Overview
CharterPrime is a global financial and forex broker that was established in 2012. The company operates under the full name CharterPrime Limited and is headquartered in Sydney, Australia. It is registered as an international business company under the jurisdiction of the St. Vincent and the Grenadines Financial Services Authority (SVG FSA), with registration number 22717 IBC 2015. CharterPrime is a private entity and is not listed on any stock exchange.
The broker primarily serves retail clients and institutions, offering a range of financial products including forex, commodities, and index futures. Since its inception, CharterPrime has focused on creating a trusted trading environment and providing personalized trading conditions tailored to the needs of its clients. Over the years, it has achieved significant milestones, including obtaining regulatory licenses in various jurisdictions, enhancing its service offerings, and expanding its global presence.
CharterPrime operates on a Straight-Through Processing (STP) model, which allows for direct order execution without dealer intervention, ensuring faster and more efficient trading for its clients. The broker has garnered a reputation for its commitment to service excellence, which is reflected in its various industry awards.
2. Regulation and Compliance Information
CharterPrime is regulated by several authorities, including:
- Australian Securities and Investments Commission (ASIC) - License number 421210
- Financial Service Providers Register (FSPR) in New Zealand - License number 348606
- SVG FSA - License number 22717 IBC 2015
The regulatory licenses held by CharterPrime ensure that it adheres to strict financial standards, providing a layer of protection for its clients. The broker maintains a policy of segregating client funds, ensuring that they are held in separate accounts and not used for operational expenses. This practice is crucial for safeguarding client deposits.
CharterPrime also complies with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, requiring clients to verify their identities and provide necessary documentation during the account opening process. This commitment to compliance enhances the trustworthiness of the broker and ensures that it operates within the legal frameworks of the jurisdictions in which it operates.
3. Trading Products and Services
CharterPrime offers a diverse range of trading products, catering to various trading styles and preferences. The broker provides access to:
- Forex: A wide array of currency pairs, including major, minor, and exotic pairs. The broker offers over 45 currency pairs for trading.
- CFDs: Contracts for difference on indices, commodities, and precious metals, allowing traders to speculate on price movements without owning the underlying assets.
- Commodities: Trading opportunities in various commodities, including oil and gold.
- Precious Metals: Trading options in metals such as gold and silver.
- Index CFDs: Access to major global indices, providing opportunities for diversification.
CharterPrime continuously updates its product offerings to meet market demands and enhance trading opportunities for its clients. The broker is committed to providing a comprehensive trading experience, with competitive spreads and low trading costs.
4. Trading Platforms and Technology
CharterPrime supports the MetaTrader 4 (MT4) trading platform, which is widely recognized in the forex trading community for its robust features and user-friendly interface. The platform is available for desktop and mobile devices, allowing traders to execute trades and analyze markets on the go.
- Desktop Platform: The MT4 desktop application provides advanced charting tools, technical analysis capabilities, and the ability to automate trading strategies using Expert Advisors (EAs).
- Mobile Application: CharterPrime offers a mobile version of MT4 for both iOS and Android devices, enabling traders to manage their accounts and execute trades from anywhere.
- Web Trading Platform: The web-based version of MT4 allows for trading without the need for software installation, providing flexibility for traders who prefer to access their accounts via a browser.
CharterPrime utilizes a STP execution model, ensuring that trades are executed directly with liquidity providers, minimizing slippage and requotes. The broker's technological infrastructure is designed to support efficient trading and provide a seamless trading experience for all clients.
5. Account Types and Trading Conditions
CharterPrime offers three main types of trading accounts, each designed to cater to different trading needs:
- Variable Account: This account type features variable spreads and no commissions, making it suitable for traders who prefer flexibility in their trading conditions. The minimum deposit required is $100, with leverage up to 1:500.
- ECN Account: Designed for high-frequency traders, this account offers razor-sharp spreads starting from 0.0 pips, but charges a commission of $8 per lot. The minimum deposit is also $100.
- Swap-Free Account: This account is tailored for traders who wish to avoid overnight interest charges, adhering to Islamic finance principles. It incurs a commission of $40 per lot on Wednesdays, with variable spreads.
The minimum trade size for all account types is 0.01 lots, providing accessibility for traders with smaller capital. CharterPrime's trading conditions are competitive, with a focus on providing value to its clients through low trading costs and high leverage options.
6. Fund Management
CharterPrime supports a variety of deposit and withdrawal methods, ensuring convenience for its clients. The available deposit methods include:
- Bank Transfer
- Credit/Debit Cards
- E-Wallets: Such as Skrill and Neteller
- Cryptocurrencies: Including Bitcoin and Tether
The minimum deposit requirement for all account types is $100. Deposits are generally processed quickly, with most methods taking 1-2 business days.
Withdrawals can be made using the same methods, with a processing time of 1-5 business days, depending on the chosen method. CharterPrime does not charge fees for most deposits and withdrawals, although some methods may incur a small percentage fee due to international policies. For example, withdrawals via bank transfer may incur a fee of $40.
7. Customer Support and Educational Resources
CharterPrime is committed to providing quality customer support to its clients. The broker offers multiple support channels, including:
- Email Support: Available for general inquiries and assistance.
- Live Chat: Provides real-time support during business hours.
- Contact Form: For feedback and queries.
Customer support is available in several languages, including English, Chinese, and others, ensuring that clients from diverse backgrounds can receive assistance.
In terms of educational resources, CharterPrime provides basic materials to help traders improve their skills. However, the education offerings are somewhat limited compared to other brokers. Traders can access market analysis, economic calendars, and research reports to stay informed about market trends.
8. Regional Coverage and Restrictions
CharterPrime serves clients from various regions, including major markets in Australia, New Zealand, and several countries in Asia. The broker has established a robust presence in these regions, providing tailored services to meet local trading needs.
However, CharterPrime does impose restrictions on clients from certain countries, particularly those with stringent regulatory environments. It's essential for potential clients to verify whether they can open an account based on their location.
In summary, CharterPrime is a broker that offers a competitive trading environment with a range of products and services. While it has received mixed reviews regarding its customer support and educational resources, its regulatory status and commitment to client safety make it a viable option for many traders.
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Latest Reviews
蓝天5145
Hong Kong
The teacher who instructed me to open an account on Charterprime did not tell me that Charterprime had withdrawn from mainland China market. Because the account has been trade normally, I don't know about Charterprime withdrawal from mainland China. Because I haven’t withdrawn funds before, and I didn’t find out about this, I didn’t know that Charterprime had withdrawn from mainland China market until I was preparing to withdraw funds on June 16. Send an email to Charterprime, and they reply me that the funds will be withdrawn to my account within 3 to 5 working days, and then my account has been frozen, but funds have not arrived until now.
Exposure
2023-07-03
翩嗳
United Arab Emirates
CharterPrime is always my preferred online trading platform, and I normally trade little amounts, no more than $1,000, on this platform. Despite knowing that I do not trade with large sums of money, I am nonetheless provided with competent and patient trading services. I strongly recommend CharterPrime!
Positive
2023-02-21
Pouppo
Singapore
The company requires a minimum deposit of just $100 and is friendly to beginners who want to give it a try. But the level of leverage is not flexible enough, and beginners need to consider it carefully.
37130
2024-07-03