Is PrimeFin legit or not?

Posted by keith cooper on November 25th, 2021

Caps solution Ltd trades under the name PrimeFin. Incorporated under Labuan laws, the company has the registration number LL16622. MB/20/0052 is the license number, and the company is regulated by the national Malaysian regulatory body, the Labuan Financial Services Authority. 

Caps Solutions UK Ltd is UK registered - registration number 12734767. The latter is both a payment processor and broker website operator. Almack House , 26-28 King Street, London, England SW1Y6QW is the UK registered company ‘s registered address.  Is PrimeFin legit or not? We will analyse the answer. 

Is PrimeFin good for trading?

PrimeFin puts forward very good reasons why you ought to consider its services for Forex trading: 

• You may open a demo account very easily with PrimeFin. The ID verification process is easy and breezy. This prepares you for a live account; 

• In case your balance is bigger than the initial amount, you will have all your money reimbursed; 

• Clients’ fund security measures are fully implemented; 

• Hedge your holdings to your heart’s content!; 

• Avail of the highest possible leverage, the prerequisite between only the relevant work experience in the financial industry; 

• Dedicated account managers for the gold account;

• Tight spreads; 

• Trading app trading history view option; 

• Commission free trading; 

• Full education resources. 

PrimeFin is safe: client funds safeguarded 

Securing your funds is the broker’s top priority. Therefore, your funds are segregated from corporate operating accounts. These Deposits are placed with leading global banking institutions. 

Secure website for safe transactions

The most current hardware and software are used to shield all data systems. Among safety measures are the following: 

• Rigorous firewalls and Secure Sockets Layer or SSL software that protect data during transmission. SAS 70 certified data centres house trading servers;

•  Transactions administered as per Level 1 PCI compliance services moderation;

•  Transactions that are encrypted; 

• Communication data servers.  

Trading with assets: is Primefin legit ?

Across all the three account types are the following: 40 Forex currency pairs; 17 commodities; 10 futures; 12 indices; 130 cryptocurrency pairs; 166 stocks. 0.01 is the minimum lot size across the account types. Max lot size per trade is 50. 

The broker has more than 350 CFD financial instruments across diverse categories. Hence, the broker offers the following tradable assets: forex trading, stock trading; indices trading; crypto trading; ETF trading; metal trading.  

Forex trading with PrimeFin: is Primefin legit?

Forty currency pairs you can choose from when you are decided about trading with PrimeFin. The broker gives over-the-counter market traded Forex CFDs. The profit depends on the underlying forex pair’s fluctuation in value. Market direction and trader position influence earnings. 

When you are long, the implication is that you are purchasing the product on the expectation of the underlying price rocketing up between the point of selling and buying. You are the long position owner. You will make a profit when the market price or said underlying goes up, even with your long position open. 

On the other hand, the client suffers a loss when the underlying market price plummets. The long position is not yet open. Offered on margin, the product allows you to take positions of value to the tune of more than the amount invested. 

Is PrimeFin legit ?: why Forex CFD trading with PrimeFin is profitable 

Advantages of Forex CFD trading :

•  Tradable on margin; 

• Efficient trading; 

• Liquidity; 

• Transparency and ease of execution;

•  Low transaction costs; 

• Stop loss and contingent orders easily placed. 

Fair practices on commissions and fees: is Primefin legit?

Silver account starting spreads are from 2.1 pips. The gold and platinum accounts have starting spreads from 1.2 pips and 0.6 pips. Across all three account types, there are swaps/ rollovers. There is no commission. Read the PrimeFin review. 

Is Primefin legit? It is profitable, with leveraged trading 

Leverage given to professional clients can go up to 500. Here, negative balance protection turns out to be useful. For retail clients across all account types, the leverage is 1:100. Again, the leverage provided across account types looks equitable, with 1:2 for cryptocurrencies, 1:10 for stocks, and 1:50 for indices, commodities, and metals.

Why should you open a position with leverage? 

Leverage permits you to open trade volumes larger than your account margin. No matter what your trading strategies, leverage usage is beneficial to your trading goal. Also, you can have leverage without any interest. Gain or lose, there’s no interest. 

Conclusion 

PrimeFin, the digital sponsor of the Argentine soccer team, boasts of online access to 10,000+ markets globally. The broker promises the best possible access to market dynamics with 350 plus tradable assets, live markets 24/7, and the fastest execution speeds. In addition, the educational resources segment on the broker’s website is comprehensive enough for all levels of trader.