PRTrend require a minimum desposit of 200 GBP/USD when opening an PRTrend trading account. PRTrend is a global trading platform in the sense that it operates in 162 nations including nations in Europe, Asia, Oceania, and Africa. Major countries PRTrend covers include the UK, Germany, Australia, South Africa, Thailand, the United States and China. As per its Wikipedia page, PRTrend has a total of more than 180,000 users. Try creating two accounts when you are working with PRTrend.
Whatever you are looking to trade the varying PRTrend account types will be able to provide you with what you need. Just click on the newsfeed item to read the article in more detail. Lets explore each of these trading platforms in detail and what options PRTrend gives you. If you are looking for Forex brokers to trade currency pairs on global Forex markets PRTrend offer over 65 currency pairs. Depending on the type of account you have signed up for you can only be charged an inactivity fee under certain circumstances.
Features Of PRTrend
All withdrawal requests are processed at 12 EST. If your request is after that time it will be processed in the next business day.
One of the biggest advantages of trading with PRTrend is the faster trade execution. This is made possible with the lowest latency generated by its highly secured trade servers and top-grade infrastructure of its pricing providers.
Standard account – It charges a fee equivalent to the spread and adds a pip to the original spread. For example, in an average spread of 0.1 pips, it shows as 1.1 pips for a standard account. Moreover, if you are doing wire transfers through an international bank, then you’ll have to pay an extra commission from your pocket, which will be around USD 20 at least. Above that, intermediary fees will also apply and the process of withdrawal will take a minimum of fourteen days. Once you successfully register for a live trading account, you will have access to the firm’s Client Portal.
International Capital Markets
There may be a third-party fee that is applied by your bank or intermediary banks if you are doing an international wire transfer. BrokerChooser is free for everyone, but earns a commission from some of the brokers. We get a commission, with no additional cost to you. Our recommendations and rankings are based on our methodology, independent from partnerships we have. Please use our link to open your account so that we can continue to provide broker reviews for free.
Is forex a gamble?
So, Let’s Settle This: Forex Is Gambling
Just like gambling, there are no guarantees in Forex, or at least no guarantees that you would be able to quit your day job and spend all your time trading on Forex. Just because Forex is gambling, it doesn’t mean that you cannot exploit its weaknesses.
I did not trust them and so I closed my account. I feel like I know more than their so-called brokers and account managers. I am not even sure if these really license brokers or just random salespeople. Customer service is good, available most of the time to help but withdrawals are always very slow. It doesn’t happen once but so many times that is why I end up closing my account instead. They charge too many fees even if the profit just a small amount.
PRTrend Pros And Cons
Following validation, you can fund your trading account through one of the several deposit methods provided by PRTrend. Remember that minimum deposit requirement is $200. The withdrawal prtrend official site time is dependent on the processing method. The withdrawal request cut-off time is noon AEST/AEDT. Any request received after that is processed the following business day.
The custodian banks of PRTrend are the National Australia Bank and Westpac Banking Corporation , two top-tier Australian banks. Negative balance protection exists, ensuring traders can never lose more money than their deposit. Traders may obtain more information from the legal documents published on the website or by contacting customer support. PRTrend EU, regulated by the Cyprus Securities and Exchange Commission , serves the European Economic Area traders, but from a less competitive trading environment. All international clients will manage portfolios at Raw Trading Ltd, the Seychelles entity authorized by the Financial Services Authority of Seychelles .
While briefly looking at its competitive offerings, you will find that it is designed with the purpose of providing traders with favorable trading conditions. Its other amazing features include low spreads, interbank liquidity, competitive forex fees, no inactivity fee, and helpful research and educational offerings. Additionally, traders are benefitted from its innovative algorithm that fits all trading styles and facilitates faster order execution. Traders may choose between three account Retail foreign exchange trading types, the commission-free Standard Account, and two commission-based alternatives, the Raw Spread Account and the cTrader Account. All three require a minimum deposit of $200 or a currency equivalent. An Islamic version is available for qualifying traders, where the same minimum amount applies. The PRTrend’ minimum deposit remains higher than many of its competitors, where it can be as little as $0, granting traders the freedom to deposit as much or as little as they wish.
The automated trading system utilizes intelligent algorithms to trade foreign currencies at a given time based on the parameters set by traders. In our search for finding trustworthy & top forex brokers, we came across PRTrend. A large number of positive reviews about it make us trust this company. We should also note the service of PRTrend True ECN, Foreign exchange autotrading which is designed to make trade as transparent and simple as possible. For 10 years PRTrend has proved its ability to be reliable and stable. The responses of the traders we are waiting for in this article will influence the rating of the broker on our web portal. Additionally, they will also warn investors against possible problems in the future.
PRTrend Review: Account Types
When he is not trading and writing, you can find him relaxing with his son. PRTrend have three types of accounts that are designed to suit the needs of different traders. The accounts are Raw Spread account, ctrader account, and the Standard account. In our PRTrend Review, we did not find any educational content on their Cyprus entity.
Trading CFDs carries a risk of losing money due to leverage. 78.6%of retail investor accounts lose money when trading CFDs. Demo accounts fulfill an essential role in the automated trading scene, where they serve a defining role in the development process of new trading solutions. FinTech companies and independent developers require adequate testing capabilities to test autonomous trading solutions, identify bugs, and adjust. For this purpose, an unlimited demo account remains a necessity, which PRTrend provides. The MT5 trading platform and cTrader also fully support automated trading, and demo accounts are equally available.
You will not be able to trade Stocks, Indices, Commodities, ETFs, Futures on any MetaTrader 4 platform unless they are CFD contracts or Spread bets. You will not own any underlying assets with CFDs or Spread bets as you are speculating on price movements with PRTrend. You can learn more about the MT4 Platform here.
This platform is the preferred platform for most investors and traders. Its design, features, functionalities, and tools all combine to make a great forex trading experience. It’s also been popular with traders for a long time now, so it should be easy to find guides to familiarize yourself with the platform quickly. Although traders have had great success with PRTrend.
Standard account offer spreads from 1 pips with no additional commission charges. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Who Can Use PRTrend?
That is, customer orders will be executed quickly, with tight spreads and high liquidity rates. The fees and trading conditions are better than the average for the market. Customer support is offered in multiple languages including Foreign exchange reserves English, Chinese, Indonesian, Italian, Spanish, Portuguese, Thai and Vietnamese. All the trading platforms on offer provide unique advantages to both beginner and professional traders due to their worldwide popularity.
CTrader, the market leader for the ECN execution model, offers another excellent choice. CAlgo allows for the addition of automated trading solutions using the C# language, while MT4 applications are coded in MQ4. All platforms fully support algorithmic prtrend rezension trading, but the MT5 is by far the least suited option. Therefore, account verification is mandatory, which includes submitting a copy of the trader’s ID and one proof of residency document. Client deposits remain segregated from corporate funds.
It is available to only those who comply with its rigid rules. You can also ask your friends and colleagues to stay away from the broker for its charlatan behavior. If you cannot find all products at the same place, it will probably amount to financial losses. So, if you’ve boarded the broker accidentally, you should quit it and look around for someone who does justice to your requirement. Firstly, you struggle to find the location of the accounts. And somehow when you manage to do that, it shocks you completely to see some unnamed accounts. You make guesswork; one is cTrader called Raw Spread, another account, second in the line is also Raw Spread account and the third one is Standard.
- If you fund your account in the same currency as your bank account or you trade assets in the same currency as your account base currency, you don’t have to pay a conversion fee.
- We have covered allot in this PRTrend review, If you want to see how PRTrend compares side by side with other brokers check out our PRTrend Vs pages.
- Enhancing the core trading environment are auxiliary services provided on the PRTrend blog.
- PRTrend trading fees are low.There are different cost structures for different account types.
- Some brokers ask between $500 and $2,000 for an initial deposit.
- A stop-loss is designed to limit a traders loss on a security position.
While PRTrend does not develop their own proprietary mobile application, each of the trading platforms that were mentioned above have their own mobile apps. Well, the MT4 is a more “battle-tested” platform that is well known by millions of traders. There are more integrations for it and more trading communities know how to develop on it.