PU Prime Review

PU Prime Regulation - 7/10

PU Prime is a regulated broker with licenses from ASIC Australia & CySEC Cyprus. However, their operations in Nigeria are regulated by the Financial Services Authority (FSA) seated in Seychelles.

PU Prime Funding & Withdrawal - 5/10

Minimum Deposit

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.

Nigerian traders are allowed to deposit in Naira, which would then be converted to your account currency (USD, EUR, GBP, or CAD).

PU Prime Deposit Bonus

PU Prime deposit bonus at the moment is 50%, and this bonus adds to your margin when trading, allowing you open bigger positions.

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

Account Types - 9/10

1. Cent Account

The PU Prime Cent Account is ideal for beginners because it restricts your lot size to micro lots only.

2. Standard Account

The Standard Account is ideal for experienced traders because it has no lot size restrictions.

3. 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.

4. 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 does not have naira account currency, your trading account can be opened in USD, GBP, CAD, AUD, EUR, SGD, NZD, HKD, or JPY 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 1.4 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 nextday.

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 - 7/10

1. MetaTrader 4&5

PU Prime allows you trade on MT4 & MT5 using any of their trading account types. The MetaTrader offering comes in desktop, mobile & web versions.

2. PU Prime Mobile App

PU Prime also provides their own custom mobile trading app and it is compatible with android and apple devices.

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 - 9/10

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 an international 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 - 5.8/10

PU Prime is a great forex broker for beginners who can afford the $50 minimum deposit.