PU Prime Review
Is PU Prime a good broker?
!! Regulator Warning !!
Trading Contracts for Difference (CFDs) involves a high level of risk and may not be suitable for all traders. The use of leverage magnifies both potential profits and losses, meaning you could incur losses greater than your initial deposit. It is important to understand the risks involved and assess whether you can afford to lose your invested capital. When trading CFDs, you do not own the underlying assets and have no rights to them. Past performance is not indicative of future results
been using their copy trading for some months now and it works so well on their mobile app. Their customer service is also very good and they answer queries fast even via email.
PU Prime is an ASIC regulated forex broker with $50 minimum deposit
| 👨 Broker | PU Prime Trading Pty Ltd |
| 👨 Trading Name | PU Prime |
| 👨 Accepts Australian Traders? | Yes |
| 📅 Year Founded | 2015 |
| ⚖ Regulators | ASIC |
| ⚖ License No. | 410681 |
| ⚖ AFCA Member | Yes |
| 💰 Minimum Deposit | $50- Standard Account |
| 💰 Minimum Withdrawal | $50 |
| 📈 Ways to Trade | CFD |
| 📈 CFD Instruments | Forex, Metals, Stocks, Indices, Commodities, ETFs, Bonds |
| 🚀Leverage | 1:30 |
| 🔎Auditors | LNP Audit |
| 💻 Platforms | MT4, MT5, PU Prime Mobile App |
| 📋Account Types | Cent, Standard, Prime, ECN |
| 💱Account Currency | AUD, USD |
| 📞Live Support | 24/7 |
| 🏖️ Inactivity Fee | $0 |
| 😭CFD Traders Who Lose Money | |
| ✅Reason To Trade | |
| ❌Reason To Avoid |
PU Prime Regulation - 7/10
PU Prime Pty Ltd is a regulated broker. Their activities in Australia are regulated by the Australian Securities & Investment Commission (ASIC) and their AFSL number is 410681.
For any dispute resolution (external), PU Prime is a member of the Australian Financial Complaints Authority (AFCA).
PU Prime Funding & Withdrawal - 5/10
Minimum Deposit
The PU Prime minimum deposit is $20 for the Cent Account, and $50 for the Standard Account.
The Prime Account has a $1,000 minimum deposit, while the ECN Account has a $10,000 minimum deposit.
Minimum Withdrawal
PU Prime minimum withdrawal is $50 for all payment methods.
If you withdraw via International Bank Wire, only the first withdrawal of every month will have a $50 limit; the second withdrawal of the month will have a $70 minimum limit.
Available Payment Methods
- Local Bank Transfer - this is the fastest method & the withdrawal processing time is instant.
- Cards
- EWallets
- Crypto
Account Types - 9/10
1. Standard Account
The Standard Account is ideal for experienced traders because it has no lot size restrictions.
2. Prime Account
Ideal for experienced traders, it has lower spread than the Standard Account, but you must pay a fixed commission on every trade you take.
3. ECN Account
This account is just like the Prime Account we discussed above, but the difference is the commission per trade is lower.
Account Management - 7/10
Account Currency
PU Prime trading accounts can be opened in AUD and USD currencies.
Number of Trading Accounts Allowed
You can open any number of trading accounts you like; PU Prime does not limit the number of trading accounts you open.
Margin Call & Stop Out
At PU Prime, you will get a margin call when your margin level falls to 50% & you will be stopped out of your trades when margin level falls to 20%.
Negative Balance Protection
PU Prime has the Negative Balance Protection feature, which ensures your trading account never goes into debit.
Fees - 6/10
Spread & Commission
PU Prime spread is from 1.3 pips on their Standard Acoount.
For lower spread, consider opening the PU Prime ECN or Prime Account types; which have spreads from 0.0 pips plus a flat commission per trade.
On the Prime Account you pay a commission of $3.5 per side in exchange for lower spread from 0.0 pips.
On the ECN Account you pay a commission of $1 per side in exchange for lower spread from 0.0 pips.
However, the ECN & Prime Accounts have higher minimum deposits than the Standard Account.
Withdrawal Fees
PU Prime does not charge withdrawal fees except you are withdrawing to a foreign bank account.
Inactivity Fees
PU Prime does not charge inactivity fees on dormant accounts, instead they archive any accounts that have not been used for 3 months.
Overnight Fees
PU Prime charges an overnight fee to any trades left open till the next day.
Range of Markets - 6/10
1. Forex CFDs
You can trade major, minor & exotic currency pairs while accessing leverage up to 1:1000 at PU Prime.
2. Metal CFDs
You can trade gold, silver and other metals with up to 1:1000 leverage, at PU Prime. Gold is paired against the US Dollar and Japanese Yen.
3. Index CFDs
NAS100, US 30, SP 500 and other popular Indices can be traded with up to 1:500 leverage, at PU Prime.
4. Commodity CFDs
Commodities are limited to Oil, Sugar & Coffee; you can trade these commodities with up to 1:500 leverage.
5. Stock CFDs
1,000+ American, European & Asian Stock CFDs are available for trading with up to 1:20 leverage.
6. ETF CFDs
Hundreds of ETF CFDs (including Gold ETFs) are available for trading, with up to 1:33 leverage.
7. Bond CFDs
Euro, UK and US Bond CFDs are available for trading with up to 1:100 leverage.
Platforms - 5/10
1. MetaTrader 5
PU Prime allows you trade on MT5 using any of their trading account types. The MetaTrader offering comes in desktop, mobile & web versions.
2. PU Prime Web Terminal
PU Prime also provides their own custom web trading trminal but there is no mobile app.
The PU Prime App can also be used for copy trading, making it an all-in-one app.
Tools - 5/10
1. Copy Trading
You can copy the trades of more experienced traders using your PU Prime Cent Account, Standard Account, Prime Account or ECN Account. You do not need to open a specialized account for copy trading.
2. VPS
The PU Prime Virtual Private Server (VPS) gives you uninterrupted internet connectivity at zero cost but your account balance must be up to $1k.
3.. Autochartist
The Autochartist tool automatically identifies chart patterns, and sends them to you via email. This tool is available for all PU Prime account types.
Customer Support - 8/10
1. Live Chat
PU Prime live chat is open 24/7 and you can chat with a live agent. The wait time for a response is under 20 seconds.
2. Email & Telephone
There is a local AU phone number displayed on the PU Prime website as well as an email address; you can reach them via these channels.
3. Beginner Education & Help Center
Beginner educational courses are available on the PU Prime website. There is also a help center where frequently asked questions have already been answered.
Final Verdict - 6.7/10
PU Prime is a great forex broker for beginners who can afford the $50 minimum deposit.