PriorFX offer one way to trade: Forex.
To open a live account, you’ll need a minimum deposit of at least $50. Alternatively, PriorFX offer a demo account that you can use to practice and familiarise yourself with their platform.
Regulated by CySEC (Licence: 221/13). PriorFX puts all client funds in a segregated bank account and uses tier-1 banks for this. PriorFX have been established since 2013, and have a head office in Cyprus.
Before we dive into some of the more detailed aspects of PriorFX’s spreads, fees, platforms and trading features, you may want to open PriorFX‘s website in a new tab by clicking the button below in order to see the latest information directly from PriorFX.
Full disclosure: We may receive a commission if you sign up with a broker using one of our links.
What are PriorFX's spreads & fees?
The spreads displayed below are based on the minimum spreads listed on PriorFX’s website. The colour bars show how competitive PriorFX’s spreads are in comparison to other popular brokers featured on BrokerNotes.
EUR/USDNot offered $0 per lot
The average spread for EUR/USD across all brokers on BrokerNotes is 0.82 pips. See popular brokers for trading EUR/USD
USD/JPYNot offered $0 per lot
The average spread for USD/JPY across all brokers on BrokerNotes is 0.91 pips. See popular brokers for trading USD/JPY
GBP/USDNot offered $0 per lot
The average spread for GBP/USD across all brokers on BrokerNotes is 1.18 pips. See popular brokers for trading GBP/USD
The average spread for Bitcoin across all brokers on BrokerNotes is 41.15 pips. See popular brokers for trading Bitcoin
The average spread for gold across all brokers on BrokerNotes is 8.62 pips. See popular brokers for trading gold
The average spread for DAX30 across all brokers on BrokerNotes is 14.95 pips. See popular brokers for trading DAX30
Example: How much would it cost to trade 1 lot of EUR/USD?
If you were to buy one standard lot of EUR/USD (100k units) at an exchange rate of 1.1719 and then sell it the next day at the same price you could expect these fees:
|Typical overnight fee:||$0.19||$5.00||$9.40|
|Total cost of a 100k trade:||$10.19||$12||$15.4|
|+$1.81 more||+$5.21 more|
|Visit PriorFX||Visit AvaTrade||Visit Plus500|
All fees/prices are for informational purposes and are subject to change. Last updated: 17/11/2017.
What instruments can you trade with PriorFX?
|FX / Currencies||PriorFX||AvaTrade||Plus500|
|# of forex pairs offered||30||59||61|
|Major forex pairs||Yes||Yes||Yes|
|Minor forex pairs||Yes||Yes||Yes|
|Exotic forex pairs||Yes||Yes||Yes|
|# of commodities offered||5||16||17|
|Indiced & Stock CFDs||PriorFX||AvaTrade||Plus500|
|# of Stocks offered||0||99||1816|
|See PriorFX's Instruments||See AvaTrade's Instruments||See Plus500's Instruments|
What's the PriorFX trading experience like?
1) Platforms and apps
PriorFX offer the popular MT4 forex trading platform. To see a list of the top MT4 brokers, see our comparison of MT4 brokers.The combination of downloadable platforms for both Mac and Windows allows traders to trade with their device of choice.
PriorFX also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you‘re on the move.See PriorFX's platforms
2) Executing Trades
PriorFX allow you to execute a minimum of trade of 0.01 Lot. This may vary depending on the account you open. PriorFX allow you to execute a maxium trade of 10,000 Lot.As PriorFX offer STP execution, you can expect tighter spreads with more transparency over the price you‘re paying to execute your trades.
As with most brokers, margin requirements do vary depending on the trader, accounts and instruments, but as a guide, PriorFX offer margin up to 0.01% on currencies.
Finally, we‘ve listed some of the popular funding methods that PriorFX offers its traders on the right.
3) Client support
PriorFX support a wide range of languages including English, Russian, German, Hungarian, and Arabic
PriorFX have a BrokerNotes double AA support rating because PriorFX offer over three languages, live chat and phone support.
CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from https://priorfx.com/ on March 6, 2018.