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The history of Price Markets dates back to 2013. The broker provides a wide range of trading instruments with which clients can increase their capital. The company is licensed and regulated by the UK Securities Commission. Price Markets focuses its services on institutional and retail clients. The company is headquartered in London.
Trading conditions
Price Markets financial instruments - Forex currency pairs, CFDs, energies, indices, commodities. The broker provides a selection of innovative trading accounts that provide access to the global financial markets from anywhere in the world. Retail clients choose a standard account, the minimum deposit is $ 5,000. Professional traders register an API Account with a minimum account of $ 50,000. It is possible to try the strategy on a demo account that is not limited in time of use. Test tutorials and trading recommendations are also available for beginners. To open an account, you must fill out an application form (in English) and go through verification.
Trading platforms
The broker provides access to the popular MetaTrader 4 trading terminal in both desktop and mobile versions. In addition, you can trade with Price Markets through the NeroEx platform - the company's own development. The Integral, CurreNex, LiquildX Knight terminals also work as downloadable programs for the PC.
Support service
The section "Support" contains phone numbers and e-mail addresses. The site also has a live chat and a feedback form for customer requests. Managers are available 24/7.
Deposit and withdrawal of funds
To deposit and withdraw funds, you can use popular payments: Skrill, CardPay and bank transfer. Price Markets may, in its sole discretion, refuse deposits from certain jurisdictions or withdraw funds back to the Skrill digital wallet, requiring funds to be withdrawn to the client's bank account. There is also a company commission for conducting transactions in the markets - $ 3.5 per standard lot.
Criticism of traders
Unfortunately, despite the good trading conditions, the broker cannot boast of an impeccable reputation. Retail customers are confused by the high initial deposit, and rightly so. There are many brokers on the financial services market today who work on more acceptable starting conditions. In addition, the site only supports English. To switch to Russian, you need to install the extension, but the quality of translation is poor. Of course, the language barrier somewhat complicates cooperation with Russian-speaking users. There are also negative comments about the support service and the operation of the account.
Pros and cons of a broker
Price Markets advantages:
regulated broker wide range of trading instruments demo account availability wide range of trading terminals
Disadvantages:
lack of Russian-language user support high initial deposit lengthy account verification procedure for clients from the CIS poor adaptive translation of the site into Russian negative criticism of traders
Conclusion
Price Markets is a relatively young broker, but the history of the company already has some inaccuracies: the website states that the broker's activity began in 2013, while Facebook states 2003. It is possible that the company changed its name, owner or place of registration. Despite acceptable trading conditions, negative comments from traders reduce the percentage of trust in the broker.
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PRICEMARKETS is a company whose task is to provide intermediary services to traders. Brokers / Crypto exchanges provide access to currency / cryptocurrency trading, first of all. Also, many of them, if we are talking about brokers, give the opportunity to make transactions with company shares, bonds, commodities, precious metals, indices, cryptocurrency and other assets. A private person can make transactions with all these instruments only on a trading platform, access to which is provided by a broker or a crypto exchange.
In addition, thanks to such companies, an individual can operate in the market with amounts significantly exceeding the amount of his own funds. This is called the provision of leverage. For example, having a deposit of 1,000 USD with a leverage of 1:400, a trader can make transactions for 400,000 USD.
As well, the broker / crypto exchange opens access to analytics, auxiliary tools, trading signals. Without all this, modern trading is impossible.
PRICEMARKETS profits from traders' trades, usually in two main ways
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First – most common. Using spreads. This word refers to the difference between the best prices for buying and selling a certain asset at a particular moment. Moreover, in a transaction between a trader and a broker, the price is one, and between the broker and market users - another. The mediator takes the difference.
The second method is easier to understand. This is a fee for each operation performed. Most often it has a standard value, but can also be measured as a percentage.
Therefore, the company is interested in attracting as many clients as possible and that they conduct active trading.
How honest brokers / crypto exchanges should work and how they work, we found out. And now let's look at how scammers act, they are also called kitchens.
The most common way to cheat – is to twist quotes. Broker / crypto exchange gives the trader quotes that differ from the real market. There is a substitution of data in order to make operations unprofitable. The deposit is reduced, and then completely reset. At the same time, the trader thinks that his operations were made on the market, but in fact – just on the site of scammers.
Bonus – traps. They are generously distributed for anything: registration, account replenishment, etc. Only after that, in order for the client to withdraw his own money mixed with bonus money, it will be necessary to fulfill a number of actually impossible conditions. For example, to conduct trading operations in the amount of ten times more than the size of the deposit.
The User Agreement may also mask a clause that allows the broker / crypto exchange to dispose of the client's money. Inattention when reading such an agreement most often turns into a complete loss of the deposit.
One of the key points – it is the place of registration and regulation of the company's activities.
First let's talk about registration. As a rule, traders are more trusted by companies either from their own country or from an economically developed country, for example, a member of the European Union. Of course, compliance with UK law is reassuring, and compliance with the laws of an unknown island in the Indian Ocean does not mean anything to most at all.
On fact, most brokerage companies are registered offshore, and we are talking not only about small offices, but also about world leaders. Saint Vincent and the Grenadines, Belize, Marshall Islands, Mauritius are popular offshore zones among companies. Registering there, companies pay significantly less taxes than in the place of actual location, which is sometimes carefully hidden.
If a trader has claims against such a company, then it is likely that he will have to deal with it in accordance with the laws of the same conditional Belize. It is possible to be physically present there at court hearings. And this is extremely expensive and difficult.
No is it worth running like fire from just the word «offshore»? As an answer, we will cite the names of companies that are not related to brokerage, but with an impeccable reputation and also save on taxes with the help of offshore registration: Apple, Pfizer, Microsoft, General Electric, Intel.
And here we come to the second important point – this is the regulation of the broker / crypto exchange. First of all, it is carried out at the level of the state where the company is registered. Each country has its own regulatory body for brokering. So, in Russia it is the Central Bank of the Russian Federation. The trader can find permits on the websites of such authorities. But there are also supranational structures. For example, the International Financial Commission, which is an independent self-regulatory organization, specifies disputes between its members – brokers and their clients.
If there is no information on the broker's website / crypto exchange about the regulation of its activities or license, then it is almost certainly a scammer. Or on the site there is data on some license issued by him, but this information is not confirmed anywhere else. Most likely, these are also scammers.
When choosing a brokerage company, or crypto exchanges, study its history. Look at the links to its experts. If one of the leading TV channels in the economic news for 5 years in a row refers to the opinion of the analyst of the broker in question – this is good. If the broker / crypto exchange assures that it has been working for 15 years, but there is no information about it on the Internet at all – this is bad.
It is important to pay attention to reviews about the company. And read them not only on the website of the broker itself / crypto exchange. In the kitchen, they will certainly be only praiseworthy. It is better to view as many sites as possible.
Pay attention solely to the specifics in the offers on the websites of brokers / crypto exchanges. Honest companies openly write about interest, spread size, minimum deposit, etc. Scammers lure loud streamlined phrases about a rich tomorrow, a stable income, mislead with incomprehensible terms about multi-sites, superfunctions and so on.
Specify the company's connection with well-known brands, financial institutions, public organizations. For example, it can be sponsored. Large brokers / crypto exchanges sometimes hold social promotions. Scammers will definitely not do this.
Therefore, the process of choosing a broker / crypto exchange is complicated. But if you approach it carefully, it will allow you to enter the world of trading, which has made millions of people rich around the world
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Before any trade and choosing a broker You must always read reviews on this site and on other sites. Companies who are honest, have a rating of above 3.8. Also there is always the risk of loss when trading CFDs. Be careful and read the disclosure on the website of the company you chose. PRICEMARKETS received a score of 1 of 5 on our resource.