PrizmFX Forex Broker

PrizmFX Review SummaryFounded2018Registered Country/RegionUnited KingdomRegulationUnregulatedMarket InstrumentsForex, CFDs, Indices, Precious MetalsDemo Account❌LeverageUp to 1:200SpreadFrom 2 pips (Starter & Prime), 2.2 pips (Pro), 2.1 pips (Expert)Trading PlatformMT5 Web Trader, MT5 Windows, MT5 Android, MT5 iOSMin Deposit$10Customer Support- Registered Address: 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ, United Kingdom- Office Address: Office no: 102, 1st Floor, D-Mall, Pitampura, Delhi, 110034, India- Email: support@dihcapitalmarkets.comPrizmFX Information Established in 2018, PrizmFX is an unregulated broker providing access to precious metals, indices, CFDs, and forex. Starting with two pip, the platform offers trading flexibility using the advanced MetaTrader 5 system without commissions and spreads.Pros and ConsProsConsAccess to MT5 platform across devicesUnregulatedNo deposit or withdrawal feesNo demo account availableLow spreads on Starter and PrimeHigher minimum deposits for Pro and ExpertIs PrizmFX Legit? PrizmFX isn't a regulated broker. It does not have any legitimate licenses from reputable financial authorities including the FCA (Financial Conduct Authority), ASIC (Australian Securities and Investments Commission), or other significant regulating body. Originally registered on June 27, 2018, the domain prizmfx.com expires June 27, 2025. Last update of the domain was on July 30, 2024.What Can I Trade on PrizmFX? PrizmFX gives traders access to many financial instruments spread over several worldwide markets. This covers precious metals including gold, silver, and oil as well as 60+ currency pairs, CFDs, 15+ indices.Tradable InstrumentsSupportedForex✔CFDs✔Indices✔Precious Metals✔Account Types Four live trading accounts made for various levels of traders are available from PrizmFX. It makes no clear reference to Islamic or a demonstration account choices.，FeatureStarter AccountPro AccountExpert AccountPrime AccountMinimum Deposit$0$1,000$5,000$10,000SpreadsFrom 2 pipsFrom 2.2 pipsFrom 2.1 pipsFrom 2 pipsLeverageUp to 1:200Up to 1:150Up to 1:100Up to 1:100CommissionZeroZeroZeroZeroExecutionMarket ExecutionMarket ExecutionMarket ExecutionMarket ExecutionSuitable ForBeginners seeking flexibilityProfessional traders aiming for low spreadsTraders preferring fixed spreadsExperienced traders needing broader market accessMin Order Volume0.010.010.010.01EA Allowed✔✔✔✔Leverage Starting accounts at PrizmFX can use 1:200. Leverage enables traders hold bigger positions with less cash, therefore amplifying wins and losses. Although higher leverage brings benefits, it also raises risk since even little changes in the market can result in significant losses.PrizmFX Fees Spreads: Pro and Expert accounts have somewhat greater spreads (2.2 and 2.1 pips, respectively), whereas Starter and Prime accounts have spreads starting at 2 pips. Commissions: There are no commissions associated with trades on PrizmFX.Trading PlatformTrading PlatformSupportedAvailable DevicesSuitable for what kind of tradersMT5 Web Trader✔Web BrowserTraders preferring browser-based tradingMT5 Windows✔Windows DesktopProfessional traders needing advanced toolsMT5 Android✔Android DevicesMobile traders needing flexibility on-the-goMT5 iOS✔iOS DevicesApple users seeking mobile trading solutionsDeposit and Withdrawal PrizmFX charges no deposit or withdrawal fee. The minimum required deposit is $10.MethodMin. DepositMin. WithdrawalFeesProcessing TimeBank Transfer$10$10None1-3 Business DaysCredit/Debit Cards$10$10NoneInstantBitcoin (BTC)$10$10NoneUp to 1 HourEthereum (ETH)$10$10NoneUp to 1 HourTether (USDT)$10$10NoneUp to 30 Minutes