Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
General Information
What is Primal FX Trade？
Primal FX Trade is a global brokerage firm based in China. It provides traders with access to a wide range of financial instruments. These instruments include Forex, CFDs, Futures, ETFs, Precious Metals, Stocks, Indices and Commodities. However, it is important to note Primal FX Trade is currently not regulated which may raise concerns when trading.
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.
Pros & Cons
Primal FX Trade Alternative Brokers
There are many alternative brokers to Primal FX Trade depending on the specific needs and preferences of the trader. Some popular options include:
RoboForex- RoboForex offers a wide range of trading instruments, competitive trading conditions, and multiple account types, making it suitable for both beginner and experienced traders.
FxPrimus- FxPrimus provides a secure and regulated trading environment, competitive spreads, and a user-friendly platform, catering to traders looking for reliability and a variety of trading options.
Eightcap- Eightcap offers a technologically advanced trading infrastructure, fast execution speeds, and a diverse range of trading instruments, making it a suitable choice for traders seeking a robust trading experience.
Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.
Is Primal FX Trade Safe or Scam？
Primal FX Trade currently operates without valid regulation, which may raise concerns about its legitimacy and safety as a trading platform. Regulation is an important aspect of the financial industry as it provides oversight, transparency, and investor protection. The absence of proper regulation means that there may be a lack of checks and balances, potentially exposing traders to higher risks.
Market Instruments
Primal FX Trade offers a diverse range of trading options for their clients. These include Forex, CFDs, Futures, ETFs, Precious Metals, Stocks, Indices, and Commodities.
With Forex trading, clients can trade various currency pairs and take advantage of fluctuations in global exchange rates.
CFDs allow traders to speculate on the price movements of financial instruments such as stocks, indices, and commodities without actually owning the underlying asset.
Futures contracts provide an opportunity to buy or sell an asset at a predetermined price and time in the future.
ETFs are investment funds that track the performance of a specific index or asset group. Precious Metals, including gold and silver, offer a safe-haven investment option. Stocks allow clients to trade shares of publicly listed companies.
Indices represent a basket of stocks representing a specific market or sector.
Lastly, Commodities encompass a range of raw materials such as oil, gas, wheat, and corn, providing opportunities for trading in global commodity markets.
With this wide array of options, Primal FX Trade allows clients to diversify their portfolios and access various markets to suit their trading strategies and goals.
Accounts
Primal FX Trade offers different account types to cater to the diverse needs of their clients.
The Basic Plan Account requires a minimum deposit of USD200, making it an accessible option for those who are new to trading or have a limited budget.
The Standard Plan Account, on the other hand, requires a minimum deposit of USD1500 and provides additional features and benefits compared to the Basic Plan.
The Platinum Plan Account is designed for more experienced traders and requires a minimum deposit of USD10000, offering enhanced trading capabilities and exclusive perks.
Lastly, Primal FX Trade also offers the Unlimited Plan Account, which has a minimum deposit of USD25000, allowing traders to have maximum flexibility and control over their trading activities.
Leverage
Primal FX Trade offers floating leverage of up to 1:1000, providing their clients with significant flexibility and potential for amplified gains. Leverage is a valuable tool in trading as it allows traders to control larger positions with a smaller amount of capital. A high leverage ratio such as 1:1000 means that traders can trade with a thousand times the amount of their initial investment, potentially magnifying both profits and losses.
Floating leverage means that the leverage ratio can vary depending on the trading instrument and market conditions. It is important to note that while high leverage can multiply potential returns, it also amplifies risks. Traders should exercise caution and ensure they fully understand how leverage works before utilizing it in their trading activities.
Spreads & Commissions
One of the key features of Primal FX Trade is the tight spreads they offer, starting from as low as 0.1 pips. This is beneficial for traders as it means they can enter and exit positions at competitive prices, reducing their trading costs. Tight spreads are particularly important in Forex trading, where even small differences in prices can significantly impact profits or losses.
It's worth noting that the availability of spreads may vary across different trading instruments and market conditions. It's advisable to check Primal FX Trade's website or contact their customer support team for more specific information on spreads for each trading instrument.
While the information on commissions is not available yet, it's recommended to review the broker's terms and conditions to fully understand the cost structure and trading fees associated with each account type and instrument.
Below is a comparison table about spreads and commissions charged by different brokers:
Please keep in mind that spread values can vary depending on market conditions, account type, and other factors. Commission structures may also differ based on the broker's pricing model and the type of account being used. It's important to review the official websites or contact the brokers directly for the most accurate and up-to-date information on spreads and commissions.
Deposits & Withdrawals
Primal FX Trade prioritizes convenience and flexibility for their clients by offering a range of deposit and withdrawal methods. Clients can choose from options such as bank wire transfer, PayPal, Perfect Money, MoneyGram, Bitcoin, and Western Union.
However, these diverse options are only showed as icons on the official website instead of wirtten information. No more specific info on the official page about the deposit & withdrawals fees and processing time. Clients should pay attentions and consult dealer for more certain info when trading.
Customer Service
Primal FX Trade provides multiple customer service options to assist its clients. Customers can reach out to Primal FX Trade through various channels to address their queries and concerns as below:
Email:support@primalfxtrade.com.
Address:
211 E 13th St, New York, NY 10009, USA
Primal FX Trade also offers a Contact Us form on their website. Customers can fill out this form with their queries, providing details about their specific needs or concerns.
Furthermore, Primal FX Trade provides live chat option which allows traders to engage in real-time conversations with a support representative.
Note: These pros and cons are subjective and may vary depending on the individual's experience with Primal FX Trade customer service.
Education
Primal FX Trade offers valuable information through their FAQ (Frequently Asked Questions) page. This resource serves as a knowledge base where clients can find answers to common queries and gain a better understanding of various aspects of trading. The FAQ page covers a wide range of topics, including account setup, deposit and withdrawal processes etc. By providing this Primal FX Trade aims to empower their clients with the knowledge and skills necessary to make informed trading decisions. The FAQ page is designed to be user-friendly and easily accessible, allowing clients to access information at their convenience. Whether clients are new to trading or experienced traders looking to enhance their knowledge, the educational resources provided by Primal FX Trade's FAQ page can serve as a valuable tool for improving their understanding of the broker and optimizing their trading strategies.
Conclusion
According to available information, Primal FX Trade is a non-regulated US -based brokerage firm. While the firm offers a range of market instruments including Forex, CFDs, Futures, ETFs, Precious Metals, Stocks, Indices and Commodities, it is important to consider certain factors such as lack of regulations that may raise concerns. It is critical that potential clients exercise caution, conduct thorough research and seek up-to-date information directly from Primal FX Trade before making any investment decisions.
Frequently Asked Questions (FAQs)
