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 & Regulation
PrimeMarketCap is allegedly a multi-asset broker incorporated in 2022 and registered in Saint Vincent and the Grenadines that claims to provide its clients with various tradable financial instruments with flexible leverage up to 1:500 and floating spreads on WebTrader, APP for Mobile and Desktop trading platforms via five different live account types, as well as 24/7 customer support service. Here is the home page of this brokers official site:
As for regulation, it has been verified that PrimeMarketCap currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.15/10. Please be aware of the risk.
Note: The screenshot date is January 11, 2023. WikiFX gives dynamic scores, which will update in real time based on the broker's dynamics. So the scores taken at the current time do not represent past and future scores.
Market Instruments
PrimeMarketCap advertises that it offers access to a wide range of trading instruments in financial markets, including Currency Pairs, Indices, Metals, Energies, Futures, and Shares.
Account Types
PrimeMarketCap claims to offer five types of real trading accounts, namely Classic, Silver, Gold, Platinum and Premium, with no minimum deposit requirement.
Leverage
Leverage is adjusted based on the account type and certain assets. Just take forex as an example, clients on the Classic and Silver accounts can experience leverage of 1:100, while the Gold, Platinum and Premium accounts can enjoy a higher leverage of 1:200, 1:400 and 1:500 separately. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Spreads & Commissions
All spreads with PrimeMarketCap are a floating type and scaled with the accounts offered. Spreads on the Gold account can be reduced by 20%, while the Platinum and Premium account holders can enjoy a reduction of 30% and 50% respectively. However, as we see on their platform, the EUR/USD spread is 22 pips on average. By contrast, the industry average spread is just 1.5 pips. As for the commission, there is no commission charged.
Trading Platform Available
Instead of the world's most advanced and popularly-used MT4 and MT5 platforms, PrimeMarketCap gives traders WebTrader, APP for Mobile and Desktop. Anyway, you had better choose brokers who offer the leading MT4 and MT5, which are highly praised by traders and brokers alike due to their ease of use and great functionality, offering top-notch charting and flexible customization options. They are especially popular for their automated trading bots, a.k.a. Expert Advisors.
Deposit & Withdrawal
PrimeMarketCap says to support credit/debit cards (Visa / MasterCard / Maestro), and Bank transfers. The broker charges no deposit or withdrawal fees.
Bonuses
PrimeMarketCap claims to offer some bonuses for different account types. For example, 10% for the Silver account, 30% for the Gold account, 50% for the Platinum account, and 100% for the Premium account. However, for a $200 bonus, clients should trade 50 lots (5 million USD in turnover) to become eligible for withdrawals.
Customer Support
PrimeMarketCaps customer support can be reached by email: support@primemarketcap.com, live chat or send messages online to get in touch. Company address: First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, VC0100, St. Vincent and the Grenadines.
Pros & Cons
Frequently Asked Questions (FAQs)
