WikiFX Review: Is PU Prime a decent broker?

Please continue to read if you want to know whether PU Prime is a reliable forex broker.

In this article

WikiFX provides inquiry services in the forex field.

WikiFX evaluates the reliability of PU Prime based on the facts.

What is WikiFX?

To explore whether PU Prime is a scammer, we evaluated this broker based on various aspects, such as regulatory status.

1.Evaluate the reliability of PU Prime based on its general information and regulatory status

To understand PU Prime better, we explore it by analyzing two main perspectives:

A. General Info of PU Prime

B. Regulatory Status

A. General Info of PU Prime

PU Primes general info is shown below:

About PU Prime

PU Prime is a forex and CFD broker that was founded in 2016 and is based in Australia, offering popular instruments, including Forex, Indices, Commodities, Cryptocurrencies, Metals, Shares, Bonds, and ETFs.

Account Type & Minimum Deposit

As for trading accounts, five options are available: Cent, Standard, Prime, Pro, and Islamic.

• The Cent account is designed for beginner traders who want to start trading in small amounts. This account type has a minimum deposit requirement of just $20 and offers fixed spreads, making it an ideal choice for those who are new to trading.
• The Pro account seems to be designed for traders who are just starting out in forex trading. This account type requires a minimum deposit of $50 and offers spreads from 1.3 pips.
• The Standard account is the most popular account type and is suitable for most traders. It requires a minimum deposit of $50 and offers variable spreads. Traders can access a wide range of trading instruments, including forex, indices, commodities, and cryptocurrencies.
• The Prime account is designed for advanced traders who require fast execution speeds and tight spreads. This account type requires a minimum deposit of $1,000 and offers ECN spreads starting from 0 pips. Traders can access a wide range of trading instruments, including forex, indices, commodities, and cryptocurrencies.
• The Islamic account is designed for clients who require Sharia-compliant trading solutions. This account type offers swap-free trading and is available to clients of all levels.

Leverage

PU Prime offers leverage of up to 1:500, which is a relatively high leverage compared to other brokers in the industry. The high leverage can be beneficial for traders who want to take larger positions with a smaller capital investment. However, it is important to note that high leverage also comes with high risk, as losses can exceed the initial investment.

Trading Platform

PU Prime offers its clients two of the most popular trading platforms in the industry, MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

Spreads and Commissions (Trading Fees)

Spreads and commissions, also known as trading fees, are the costs that traders incur when opening and closing positions on the market. PU Prime offers variable spreads starting from as low as 1.3 pips for its Cent, Standard, Pro and Prime account types. Additionally, this broker offers a zero-commissions trading environment on its Cent, Prime, and Pro accounts. Islamic and Prime accounts charge a commission of $3.5 per lot per side.

Deposits and Withdrawals

PU Prime offers over 10 deposit and withdrawal methods to its clients. The available methods include bank wire transfer, credit/debit cards (Visa and Mastercard), electronic payment systems (Skrill, Neteller, Fasapay, Sticpay, Bitwallet, America Express, VLoad, AstroPay, and more), and local payment methods. PU Prime does not charge any deposit fees, and the minimum deposit amount varies depending on the account type, starting from $10 for the Cent account.

Customer Support

PU Prime provides customer support through multiple channels, including phone, email, and live chat. The customer support team is available 24/5, from Monday to Friday.

B. Regulatory Status

What is a Legitimate License?

• The legitimate license is the business license issued by the financial regulatory institution of each country/region.
• Holding a license means that the broker is recognized and regulated by the regulatory authority, therefore your money is under protection to some extent.
• Whether a forex brokerage firm holds a legitimate license or not is one of the important factors in evaluating the reliability of forex brokers.
• The regulation's content and the difficulty of obtaining a license vary by country and agency issuing the license.

The legitimate license of PU Prime

According to WikiFX, PU Prime operates under a strong regulatory frame.

2. The feedback from social media platforms

To figure out whether this broker is a scam or not, we did a survey about this broker on social media platforms.

• PU Prime has official accounts on X, Instagram, and Facebook
• There are many market analyses related to this broker on X. And most posters are positive toward it.

3. Recent Events

PU Prime is spreading holiday cheer with an exclusive Christmas promotion. Designed to delight traders, this seasonal event offers a chance to win exciting rewards, including cash prizes, vouchers, and Amazon gift cards. The promotion runs from 1 to 31 December 2024, giving participants a month-long opportunity to make their holiday trading experience more rewarding.

https://www.wikifx.com/en/newsdetail/202410149184620269.html

4. Special survey about PU Prime from WikiFX

Scoring Criteria

WikiFX gives brokers a score from 0 to 10. The higher the score is, the more reliable the broker is.

WikiFX has given PU Prime a decent rating of 7.69/10.

5. Conclusion

All over, PU Prime is a sophisticated broker that offers excellent trading services to its global clients. It is regulated and welcomed by many traders. WikiFX has given this broker a considerably high score. It may be a good choice for you to start your trading journey. However, we still want to remind you of the potential risk in the forex trading. If you want more information about the reliability of certain brokers, you can visit our website (https://www.WikiFX.com/en). Or you can download the WikiFX APP to find the most trusted broker for yourself.