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In our PrimeFin review, we liked the cryptocurrency offer the most. With over 30 CFD cryptocurrencies, PrimeFin should be interesting for crypto enthusiasts. You can also directly see that PrimeFin is a modern broker with a brand-new infrastructure. Their website is top-notch, and you can access all relevant information quickly. Educational materials play a big part at PrimeFin. They offer a wide range of learning materials. Available materials are VODs, Courses, Articles, E-books, Tutorials. To keep traders up to date with news, PrimeFin also offers an economic calendar.
In our PrimeFin review, we liked the account tiers the least. We understand the reason behind it, to give the customer an incentive to deposit more and thus trade a higher volume. However, we prefer it if there is only a single account tier to make it fairer for small traders with small accounts. The spreads on the low-end tiers could be a little better. The inactivity fee is another small negative point.
Available Trading Assets
PrimeFin offers around 350 different trading instruments. Which is somewhere similar to what the average broker offers. Compared to other brokers, PrimeFin offers an above-average amount of cryptocurrencies but falls a bit short on the amount of available stocks. However CFD Futures are available and use different future contracts as underlying from different exchanges like the ICE or CME as underlying.
At PrimeFin you can trade a wide range of asset classes such as index CFDs, stock CFDs, foreign exchange CFDs, commodity CFDs, precious metal CFDs, crypto-currency CFDs. You can choose from over 200 different stocks from around the world.
PrimeFin offers major and minor currencies, but also exotic ones like the Euro vs. Danish Krone. Some available commodity CFDs are classic products like oil, but also exotic products like coffee, cocoa, cotton, orange juice or copper. PrimeFin offers a wide variety of CFD’s from famous cryptocurrencies to other more exotic ones. You can choose to trade with the most popular cryptos such as Bitcoin, Ethereum, Ripple or Litecoin. Also, available are more exotics such as Cardano, Babel, Lisk, Quantreum, Swisscoin, Stellar or Verge.
In total, the available instruments for each class are:
|💰 Minimum deposit in USD||$100|
|💰 Trade commission in USD||$0|
|💰 Withdrawal fee amount in USD||$0|
|💰 Available trading instruments||350|
Our PrimeFin review and experience is mixed. The modern infrastructure and their varied offer of cryptocurrencies is a big plus, while the account tiers of PrimeFin are negative in our eyes. Clients will be divided into three different accounts levels: Silver, Gold and Platinum.
The spreads and swaps depend on the status of the account. Once you have reached the platinum account, the spreads and swaps will be tight, but the spreads could be a little better for the silver accounts. PrimeFin does not charge any trading commissions and gives a flat 0% commission promise.
Their offer covers a wide variety of international markets. You can even trade exotic forex pairs with currencies such as the Hungarian Forint, Singapore Dollar, or South African Rand. PrimeFin also offers CFDs on trending cryptocurrencies like Lisk, Quantreum, Cardano, Babel, Swisscoin, Stellar or Verge, but also popular ones like Bitcoin, Ethereum, Ripple or Litecoin.
The order execution of PrimeFin is fast, guaranteed by SAS 70 certified data centres. The available trading software mainly relies on the popular MetaTrader 4, which can be accessed via PC, from the web and mobile smartphone or tablets. Of course, both Android and iOS users can use their trading apps.
Something that is special about PrimeFin – If you encounter any issues or have suggestions, you can even contact the management through a separate contact form.
To ensure fast and smooth deposits and withdrawals, you have the option to choose from several payment methods. PayPal is sadly not available.
Negative Balance Protection
Guaranteed Stop Loss
PrimeFin offers several options as trading platform. You gain access to the MetaTrader4 (MT4), a popular desktop trading software, or you can trade via a mobile application or webtrader.
MetaTrader 4: PrimeFin focuses on the most used trading software in the world, which is MetaTrader 4. MetaTrader 4 is a robust, fast and flexible trading software that can be used on both MAC and Windows computers. Once you have registered with PrimeFin, you can their trading platform through a free demo account.
Webtrader: PrimeFin offers the MT4 as a WebTrader if you want to access your account from a different computer. You can log in and use most of the functions that are available in regular MT4. However, you will not be able to see your desktop settings. However, you can access your open positions, modify them or open new ones.
Mobile Application: PrimeFin has connected its trading servers to the MT4 mobile application. You can access your funds and trade from anywhere, as long as you have your smartphone with you. The app is available for both Android and Apple users. The trading app is useful if you want to trade while you’re away from home.
There are three different types of accounts at PrimeFin: Silver, Gold and Platinum. Each status offers different conditions and free access to additional services. What type of accounts you have will depend on your deposits, capital and trading behaviour. After you register, your account manager will call you to help you with setup and anything else you need to get started quickly. Your Account Manager will decide which category your account should fall into.
More info is available in the following table:
|Dedicated Account Manager||✔️||✔️||✔️|
|Customized Investment News||✔️||✔️||✔️|
|Execution: MT4NDD & MT4NCC||✔️||✔️||✔️|
|Spreads starting from||0,07 pips||0,05 pips||0,03 pips|
Payment Options: PrimeFin offers multiple payment options. The payment options include bank transfers and multiple credit cards like Visa, Mastercard and Maestro. Please note, the available payment options may depend on your location.
Fund Security: PrimeFin believes that account segregation is important to protect the privacy, funds and assets of the individual trader. In addition, funds are segregated from their corporate operating accounts and deposited in well-established international banks. PrimeFin seeks the highest possible security.
Security: PrimeFin uses the latest hardware and software to protect all data systems. Strict firewall rules and Secure Sockets Layer (SSL) software are used to protect all data during transmission. Transactions are moderated by Level 1 PCI compliance services to store and manage all your forms securely.
Like any other regulated broker, withdrawals will only be effected towards the client. PrimeFin will not perform withdrawals to any other third party or anonymous account. PrimeFin reserves the right to charge inactivity fees after 61 days of inactivity and they go up to 160 EUR
PrimeFin’s customer service is often available. In our tests, we have tried to contact PrimeFin services and each time we were able to contact our account manager or a colleague directly. If you need or want assistance, there are a few possible ways to contact the service team:
Their telephone service is available from Monday to Sunday: from 07:00 to 17:00 GMT.
Since PrimeFin is a new broker, we do not have any verified feedback from traders about their experiences. We will update this section once it becomes available.
When it comes to regulation and safety, PrimeFin is regulated by the LFSA.
PrimeFin is the trading name of Caps Solutions Ltd, a company incorporated under the laws of Labuan, bearing company registration number LL16622, regulated by the Labuan Financial Services Authority (LFSA), license number MB/20/0052 with registered address Unit B Lot 49 1st Floor Block F Lazenda Warehouse 3 Jalan Ranca-Ranca 87000 FT Labuan, Malaysia. This website is operated by Caps Solutions Ltd and Caps Solutions UK Ltd, a company bearing registration number 12734767 and having its registered address at Almack House 26-28 King Street, London, England SW1Y 6QW. Payments are processed by Caps Solutions UK Ltd on behalf of Caps Solutions Ltd.
Labuan Financial Services Authority (Labuan FSA) was set up under the Labuan Financial Services Authority Act 1996. Labuan FSA operates within Labuan IBFC (Labuan International Business and Financial Centre). It ensures licensed and regulated organizations comply with the Labuan laws and regulations, as well as follows the international standards adopted by the jurisdiction. For these matters, Labuan FSA develops regulatory policies.
PrimeFin is no scam as they have a valid regulation and adhere to anti-money laundering practices as well as account fund segregation.
Our PrimeFin review is mixed, but mostly positive and we recommend crypto traders to take a second look at PrimeFin. Beginner traders should test a new broker and the trading platform on the free demo account first. We highly recommend traders and beginners to check out the learning materials of PrimeFin. Experienced Traders will like the MetaTrader 4 as the main trading platform.
By regulation, every new client must go through some basic compliance checks to ensure that you understand the risks of trading and are admitted to trading. When you open an account, you will probably be asked for the following items, so it is good to have them handy: A scanned colour copy of your passport or national ID A utility bill or bank statement from the last six months with your address You will also need to answer a few basic compliance questions to confirm how much trading experience you have. It is therefore best to take at least 10 minutes to complete the account opening process. Although you can explore the demo account immediately, it is important to note that you cannot make any real trading transactions until you have passed compliance, which can take up to several days depending on your situation.