PrizmFX Info
PrizmFX Is An Unregulated Broker Founded In 2018 That Offers Trading In Precious Metals, Indices, CFDs And Forex. The Platform Uses The Advanced MetaTrader 5 System For Trading, With No Commissions And Spreads, And Is Highly Flexible.
Pros And Cons
Pros
MT5 Platform Available On Various Devices
No Deposit Or Withdrawal Fees
Low Spreads For Entry And Premium
Cons
Unregulated
No Demo Accounts Available
Higher Minimum Deposit For Professional And Expert
Is PrizmFX Legal?
PrizmFX Is Not A Regulated Broker. It Does Not Have A Legal License From Including The FCA (UK Financial Conduct Authority), ASIC (Australian Securities And Investments Commission) Or Other Important Regulators.
What Can I Trade On PrizmFX?
PrizmFX Offers Traders Access To A Number Of Financial Instruments Distributed Across Multiple Markets Around The World. This Includes Precious Metals Such As Gold, Silver And Oil, As Well As Over 60 Currency Pairs, CFDs, More Than 15 Indices.
Account Types
PrizmFX Offers Four Live Trading Accounts Suitable For Different Levels Of Trader. It Does Not Explicitly Mention Islamic Accounts Or Demo Account Options.
1. Starter Account
Minimum Deposit: 0 Dollars
Ideal For Traders Who Are New To Forex Trading And Can Start Learning And Practicing Without A Lot Of Money.
Spread: From 2 Pips
The Spread That Beginners Need To Pay Attention To Is Moderate, Which Helps To Gain Experience In The Initial Trading.
Leverage: Up To 1:200
Provides Higher Leverage, Allowing To Manage Larger Trade Sizes, But Also Increases Latent Risk.
Commission: Zero
Commission-free Trading, Reducing Transaction Costs And Helping Novices Maximize Profits.
Execution Method: Market Execution
Ensure That Trade Orders Can Be Executed Quickly And Accurately, Suitable For Traders With High Speed Requirements.
Applicable Object: Suitable For Beginners Seeking Flexibility
No Large Deposit Required To Start Trading, High Flexibility, Suitable For Preliminary Exploration Of The Foreign Exchange Market.
2. Professional Account
Minimum Deposit: $1,000
Higher Capital Requirements, Suitable For Those With Certain Trading Experience.
Spread: From 2.2 Pips
Spread Is Slightly Higher Than The Entry Account, But Still A Reasonable Choice For Traders Seeking Stability.
Leverage: Up To 1:150
Lower Leverage Nevertheless, Provides Enough Flexibility For Larger Trade Size Management.
Commission: Zero
Commission-free Trading, Keeping Cost-effective.
Execution Method: Market Execution
Ensure That Orders Are Filled Quickly, Suitable For Technical Analysis And Short-term Trading Strategies.
Applicable To: Suitable For Professional Traders Who Pursue Low Spreads
If You Have Mastered Basic Trading Skills, The Professional Account Offers Slightly Lower Spreads, Which Helps To Further Reduce Trading Costs.
3. Expert Account
Minimum Deposit: $5,000
Higher Funding Requirements To Meet The Funding Needs Of More Complex Trading Strategies.
Spread: From 2.1 Pips
Spreads Are Further Reduced, Suitable For Traders Who Wish To Optimize Their Trading Costs More.
Leverage: Up To 1:100
The Lower Combined Force Provides Higher Application Flexibility For Deposit Funds.
Commission: Zero
Continue To Maintain A Commission-free Policy To Help Users Focus On Trading Strategies.
Execution Method: Market Execution
Guarantee That Trades Are Executed Quickly In A Rapidly Changing Market, Suitable For Advanced Technical Traders.
Applicable Object: Traders Who Prefer Fixed Spreads
Spreads Are More Stable And Help To Develop A More Accurate Trading Plan.
4. Premium Account
Minimum Deposit: $10,000
Higher Capital Requirements, Suitable For Experienced Traders, Able To Take Higher Risks.
Spread: From 2 Pips
Spread Is Lowest, Helping To Maximize Profits.
Leverage: Up To 1:100
With Expert Accounts, Keep Leverage Low, Suitable For More Solid Trading Strategies.
Commission: Zero
Zero Commission Trading, Continue To Reduce Trading Costs.
Execution Mode: Market Execution
Ensure That Orders Are Executed At The Best Time.
Applicable To: For Experienced Traders Who Need Wider Market Access
If You Need A Wider Range Of Market Tools And Deeper Market Analysis, The Premium Account Is An Ideal Choice.
Leverage
Traders Who Start Trading On PrizmFX Can Use Leverage Of 1:200. Leverage Allows Traders To Hold Larger Positions With Less Capital, Thus Magnifying Profits And Losses. Although Higher Leverage Brings Benefits, It Also Increases Risk, As Even Small Movements In The Market Can Lead To Large Losses.
Fees
Spreads: Spreads Are Slightly Higher For Professional And Expert Accounts (2.2 Pips And 2.1 Pips Respectively), While Spreads Start From 2 Pips For Starter And Premium Accounts.
Commission: There Is No Commission Charged For Trading On PrizmFX.
Trading Platform
PrizmFX Offers Investors The Current Market-leading And Well-regarded MT5 Trading Platform, As Well As MT5 For Windows, MT5 IOS And MT5 For Android. The MT5 Trading Platform Is One Of The Most Well-known And Widely Used Online Trading Systems In The World. The MT5 Platform Provides Traders With A Wide Range Of Trade Execution Functions, Unlimited Charts, Rich Technical Indicators And Curves, Custom Indicators And Scripts, Allowing Traders To Implement Any Simple Or Complex Trading Strategy.
Deposits And Withdrawals
PrizmFX Does Not Charge Any Deposit Or Withdrawal Fees. The Minimum Deposit Requirement Is 10 Dollars.
Deposit And Withdrawal Methods: Bank Transfer, Credit/debit Card, Bitcoin, Ether
Customer Support
- Registered Address: 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ, United Kingdom
- Office No: 102, 1st Floor, D-Mall, Pitampura, Delhi, 110034, India
- Email: Support@dihcapitalmarkets.com
