PrimeX Capital Forex Broker

PrimeX Capital Review SummaryFounded2017Registered Country/RegionMauritiusRegulationFSCA exceededMarket InstrumentsForex, commodities, indices, cryptocurrenciesDemo Account✅SpreadFloating from 0.8 pips (Standard account)LeverageUp to 500xTrading PlatformMetaTrader 5, PrimeX AppSocial Trading✅Minimum Deposit$10Customer SupportLive chat, contact formEmail: support@primexcapital.comAddress: 4th Floor, Docks 4, Caudan, Port Louis, 11101, Republic of MauritiusInstagram, YouTube, Twitter, LinkedIn, Telegram, WhatsAppRestricted CountriesNorth Korea, United States, Canada, Cuba, India, China, Pakistan, Hong Kong SAR China, Thailand, Vietnam, Bangladesh, Philippines, South Korea, Japan, Indonesia, Malaysia, Myanmar (Burma), Nepal, Iran, RussiaPrimeX Capital Information PrimeX Capital is a Mauritius brokerage company who offers trading services in in forex, commodities, indices, and cryptocurrencies. It offers a risk-free demo account and three tiered live accounts, with an affordable minimum deposit $10 and tight starting spread from 0.1 pips. To execute trades, you can either choose the renowned MetaTrader 5 platform, or the broker's own PrimeX App. In addition, trading tools such as economic calendars and technical analysis are available to enhance trading efficiency. Educational resources like webinars and blogs further equip traders with necessary knowledge for successful trading. Furtheremore, the broker enables social trading for investors to communicate within interaction community to learn from successful predecessors. However, one crucial thing that should raise your great attention is that the broker exceeds FSCA regulation, requesting extreme cautiousness from you before deciding to trade with them.Pros and ConsPros Cons Demo accountsExceeded FSCA licenseAffordable minimum depositPayment mainly through cryptosTight starting spreadsMT5 platformSocial tradingLive chat supportIs PrimeX Capital Legit? PrimeX Capital is currently being regulated by FSCA (Financial Sector Conduct Authority) with license no. 51864. However, you should aware that the regulation status is exceeded, indicating possible engagement in financial activities beyond what is legally permitted by FSCA.Regulated CountryRegulatorCurrent StatusRegulated EntityLicense TypeLicense No.FSCAExceededPRIMEX BROKER (PTY) LTDFinancial Service Corporate51864What Can I Trade on PrimeX Capital?Trading InstrumentsSupportedForex✔Commodities✔Indices✔Cryptocurrencies✔Stocks❌Bonds❌Options❌ETFs❌Account Type & Fees PrimeX Capital offers a demo account simulating real trading, allowing traders to practice their trading strategies without losing real money. Furthermore, three tiered live accounts are also avialable to suit varying needs for different client groups:Account TypeMinimum Deposit SpreadCommissionSuitable forStandard $10From 0.8 pips❌BeginnersNarrow$1,000From 0.6 pips❌ScalpersRaw$5,000From 0.1 pips$6 per lotProfessional tradersLeverage While PrimeX Capital offers different maximum leverage for different account types. Nevertheless, traders should use leverage cautiously and choose the account that best suits their experience levels to avoid huge losses.Account TypeMaximum Leverage Standard 1:400Narrow1:500Raw1:200Trading Platform PrimeX Capital uses the world renowned MetaTrader 5 platform for investors to execute trades, which is well-recognized by its robust functionalities such as advanced charting tools, automated trading and analysis indicators. You can reach the platform on web, or download app from Windows, mobiles phones.Trading PlatformSupportedAvailable DevicesSuitable forMT5✔Web/Windows/Mobile phonesExperienced tradersPrimeX App✔Mobile phones/MT4❌/Beginners Besides, the broker also developed its own PrimeX App,downloadable from both iOS and Android phones, to better adapt to their user habits. Deposit and Withdrawal Per its website, PrimeX Capital supports funding methods including Tether, Bitcoin, Ethereum, USDC and Iraq local depositor. Here we don't draw the conclusion but still warn you to pay attention, since the broker mainly accepts payments through cryptos, which are typical methods used by fraud brokers.Bonus Program The PrimeX 50% Deposit Bonus Program offers traders an immediate 50% bonus on deposits starting from $100, up to a maximum of $500 per client. Designed to boost trading capital, the bonus is tradable with validity for one year, but not withdrawable.