If you are looking a Euro Prime wondering if you should deposit and trade real money or not, this review is for you. Here, we will look at everything we know about Euro Prime – the good, bad and the ugly.
About Euro Prime
Euro Prime is one of the many offshore forex brokering platforms offering trading services specialized in commodities, stocks, indices, currencies, and CFDs. For these activities boasts two trading platforms and it also has must various trading account types.
Being an offshore broker, there is no financial oversight on any of its activities, which makes trading on the platform quite risky.
The brokerage firm is owned by Apsilon Ltd. allegedly. This company is registered offshore in SVG, Saint Vincent & the Grenadines, and it also lists phone numbers with South African and Kuwait Country codes. These details spell mischief, and if you are a trader on the platform, you do not have any form of guarantees on your money. There is no government agency overseeing the activities of the broker, and with a big number of offshore brokers scamming traders, you might want to avoid or stop trades with this broker.
Though there are no clear details about the regulation or the licensing of this broker, they offer trading on two reliable trading platforms, MT4 and ACTIV8. These are both solid platforms for online trading. If you’ve used MT4 before, you know that the charting, technical indicators, analytical tools, and the Expert Advisors make trading a breeze. That is the case with Euro Prime too.
ACTIV8, while not as popular as MT4, is an equally good trading platform. Created by Sirix, Leverate, the ACTIV8 trading platform offers highly fluid synchronizations with both of the MetaQuotes’ platforms, MT4 and MT5. This platform also offers traders a Strategies category with EAs and bots, nice charting features, as well as incorporated external market analysis. The external market analysis feature comes in three unique categories- News, Market Analysis, and Calendar, all displayed on the interface’s right side.
Trading Accounts and Conditions
Euro Prime has five types of trading accounts: Standard, Silver, Gold, Platinum and the Islamic accounts.
The minimum deposit requirement varies for the accounts from $250 for the standard account, $2000 or the silver account, $5,000 for Gold, $10,000 for the platinum account, and $20,000 for the Islamic account. The spreads vary too with the standard account offering a maximum spread of 2.5 pips, silver account a maximum of 2 pips, maximum of 1.5 pips for the gold account, and a maximum spread of 1 pip for the platinum and Islamic accounts.
These accounts all come with similar characteristics like free training, access to web trading applications, mobile trading, automated trading for the social trader, Free video tutorials, and a personal account manager. The accounts also promise attractive spreads, free first-month trading, no commissions, and good customer support.
Free signals are also available in all accounts even though the free signals are only free during the first month of trading for the standard account. Also, all accounts, except for the standard account enjoy professional trading experts. And while all accounts enjoy 24/7 customer support, the support services are not extended for the standard account holders.
The Islamic account doesn’t allow overnight swaps.
Large asset classes covered
Euro Prime allows trading in currency pairs, CFDs on commodities, stocks, and cryptocurrencies. Traded cryptocurrencies include Bitcoin, Ethereum, Bitcoin Cash, Litecoin, and Ripple.
If you are new to forex trading, you could outsource trading in your account and your portfolio to a professional or a successful trader.
The broker offers two bonus packages – the welcome package and the VIP package. Under the welcome bonus, you enjoy 50 percent tradable bonus on the first deposit you make. The VIP bonus, on the other hand, will grant you tighter spreads, more training sessions, high-value rewards, explosive bonuses, personal account management, as well as specific financial terms.
You should, however, read the terms and the conditions applicable to these promotions before you sign up.
- Many asset classes
- Trading on two reliable and high-rated platforms
- Five trading accounts
- Euro Prime is an offshore broker with no form of financial oversight, making us lose trust in the services it offers
- The spreads are too high and unfavorable to holders of the low-tier accounts like the Standard account and the Silver account.
- MT4 is not downloadable, and you have to trade on the web-based platform
- The initial minimum deposit is rather high, and considering the lack of oversight which translates to a high risk of losses, we do not recommend the broker.
Lack of regulation, the high spreads, high minimum deposits, and absence of a downloadable MT4 make this an unfavorable broker. Financial regulation is important, and its absence in Euro Prime makes trading with the broker a very risky affair.
RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK