Price Markets Review 2024
Website: www.pricemarkets.com
Min. Deposit: US$ 500
Leverage: 1:30
Trading Platforms: MT4 ECN, WebTrader, Currenex, liquidX, integral
Regulation: FCA
Headquarters: UK
Founded: 2013
Regulatory Licenses:
- Price Markets UK Ltd (Price Markets) - authorized by FCA (UK) registration no. 725804 not active
Updated on March 28, 2024
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Price Markets stands out as a highly reputable and legitimate broker known for its advanced trading technology and conditions. The process of opening an account is straightforward, and it offers a broad selection of trading instruments. Additionally, trading costs are transparently incorporated into the commission charges.
On the downside, Price Markets may be more suitable for advanced traders due to its complex offerings. The lack of 24/7 customer support and basic educational resources further limits its appeal to novice traders.
Pros
Reputable and legitimate broker
Advanced trading technology
Straightforward account opening process
Broad selection of trading instruments
Transparent trading costs
Cons
More suitable for advanced traders
No 24/7 customer support
Limited educational resources
Is Price Markets safe or a scam? ▲
Price Markets is unequivocally not a scam. Operated by Price Markets UK Ltd, a company duly incorporated in the UK, it is authorized and regulated by the Financial Conduct Authority (FCA), placing it within a stringent regulatory framework. This distinction as a low-risk trading broker is largely due to its adherence to the rigorous requirements set forth by a reputable regulatory authority. For traders, this means that Price Markets upholds the highest standards of financial integrity, including the segregation of client funds in major UK financial institutions to safeguard against unforeseen financial difficulties. Additionally, in the rare event of financial insolvency, retail clients are protected by the Financial Services Compensation Scheme (FSCS), with coverage of up to 50,000 GBP per client.
Headquarters: UK
Regulation: FCA
Platforms: MT4 ECN, WebTrader, Currenex, liquidX, integral
Instruments: FX, Indices, and Commodities
EUR/USD Spread: 0 pip + 3.5 USD commission
Demo Account: Available
Minimum Deposit: 500 USD
Base Currencies: USD, EUR, GBP
Education: Offers limited educational resources
Customer Support: Available 24/5
Price Markets stands out for its comprehensive selection of trading platforms, catering to a wide range of traders' needs. The broker leverages a low-latency proprietary cloud network in London and New York, ensuring a seamless trading experience. Traders have the luxury of choosing from a diverse set of trading solutions, including co-location, algorithmic trading, an aggregator or bridge, deliverable FX, PAMM for money managers, IBs, and White Labels. For those requiring more advanced capabilities, Price Markets offers VPS starting at $50 a month, Custom Cloud, Research, and Enterprise (Bare Metal Service) at an additional cost.
The crown jewel of Price Markets' platform offerings is the MetaTrader4 Terminal, a desktop version of the immensely popular trading platform, further enhanced by priceCLOUD. The broker also provides access to Currenex, which features seamless and anonymous pricing, liquidX, and integral, all of which enable DMA execution. Additionally, Price Markets offers various solutions for APIs and technical trading, catering to specific conditions and strategies across multiple venues. The platform's robust features are complemented by additional trading apps, allowing traders to review the real-time performance of hundreds of trading signal providers or community members, making it a comprehensive choice for traders.
Price Markets excels in providing high-level customer support, ensuring exceptional attention to all clients, whether retail or corporate traders. Although educational materials are slightly limited, the broker compensates by offering support through various channels. Customer service is available in multiple languages and can be accessed via online chat, email, and phone, making it easy for traders to get the assistance they need.
Price Markets tailors its account offerings to meet the specific needs of its clients, with the minimum deal size varying between markets and starting as low as 1,000 USD or 1 micro-lot. Initially, the broker provides a single retail account type. However, after completing a questionnaire, traders may be offered different conditions based on their size, experience, and type. This flexible approach allows Price Markets to accommodate a wide range of traders, from beginners to seasoned professionals.
Price Markets Forex spreads are competitive, starting from as low as 0.0 pips. For commodities like Gold, the spread begins at 12 cents, and for indices such as the UK100 and GER30, spreads start at 0.7 and 0.3 points respectively. The broker implements a commission charge of $3.5 for its Standard account holders. Additionally, for a comparison, it’s noteworthy to mention that Price Markets' spreads are in line with those offered by another renowned broker, BlackBull Markets.
Price Markets offers leverage up to 1:30 for major currency pairs, enhancing traders' ability to operate with larger trading volumes relative to their initial capital, thereby maximizing potential returns. However, leverage can also amplify losses, necessitating prudent use. The capped leverage is a directive from the FCA, under which Price Markets is regulated in the UK, aimed at safeguarding retail traders from the adverse effects of high leverage.
The broker provides a vast array of payment methods for both deposits and withdrawals, catering to the diverse preferences and needs of traders globally. This includes traditional banking methods, credit and debit cards, local payment solutions, and various web payment services like Giropay, Skrill, POLi, and Sofort, among others.
Pros
Wide range of deposit and withdrawal options
No fees charged for withdrawals or deposits
Cons
Minimum deposit requirement of $500 might be high for some traders
The minimum deposit required to open an account with Price Markets is $500, which is in line with the industry standard. This deposit allows traders to access either a Trading Account or a Partner account, including options for MAM or PAMM accounts. Furthermore, Price Markets stands out for not imposing any fees on withdrawals or deposits, an advantage for traders. Accounts can be maintained in several currencies, including USD, EUR, GBP, JPY, and CHF.
The comprehensive analysis of Price Markets underscores the broker's commitment to fair treatment of its clients. Operating as a Matched Principal Broker, Price Markets UK leverages ECN technology to facilitate trading, with all market trades executed as CFD contracts. This approach ensures that traders' exposures are hedged in the relevant markets. The broker caters to traders of all sizes, offering a variety of trading opportunities. However, beginners might find the lack of extensive educational resources a limitation.
Pros
Competitive spreads and low commission charges
Regulated by the FCA, ensuring trader protection
Wide range of payment options for deposits and withdrawals
No fees for deposits and withdrawals
Cons
High minimum deposit requirement
Limited educational resources for beginners
Price Markets Updates
It's important to note that Price Markets' website is currently inactive, and the broker does not hold a valid regulatory license at this time.
