de | cn | ru

PRCBroker Review - is it scam or safe?

PRCBroker Review - is prcbroker.com scam or good forex broker?

RATING: 2 / 0 REVIEWS PRCBroker
PRCBroker is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


Trading Accounts

 

Account type  Minimum deposit  Minimum trade size Maximum leverage Spreads        
Standard Undisclosed 0.01 1:100 2.0 pips, fixed

 

It appears that PRCBroker offers a single account type with fixed spreads, leverage up to 1:100, no commission fees, and the chance to trade in micro lots for better risk management.

 

Actually, there is very little information on trading accounts and conditions on PRCBroker’s website. We installed its demo MetaTrader 4 platform, but could not get it running. It requires log in credentials, but when you click on the “open demo account”, nothing happens. Actually the situation is the same if you try to open live trading account. That being said, maybe PRCBroker is inactive.

 

The Company. Security of Funds

 

Company

Country

Regulation

Performance Ronnaru Company Ltd

Cyprus

CySEC

 

PRCBroker is a forex and CFD broker that supports both MetaTrader 4 and MetaTrader 5 platforms. The brand is operated by Performance Ronnaru Company Ltd., a company which is licensed by the Cyprus Securities and Exchange Comission (CySEC).

 

Cyprus is one of the most popular forex broker jurisdictions worldwide. CySEC applies certain rules and requirements to Cyprus Investment Firms, yet supervision is not as strict as in the UK. Cypriot brokerages must hold at least €730 000, keep customer funds in segregated accounts, and regularly report to the commission, among other requirements they have to meet.

 

As a further guarantee to clients’ funds, all CySEC-regulated companies are members of the Investor Compensation Fund, which is able to pay compensation up to €20 000, If the company is in default.

 

Additionally, every CySEC- regulated investment company is also MiFID compliant and therefore entitled to offer cross-border services within the EU.

 

Trading Conditions

 

Minimum Initial Deposit

Unfortunately, there is no information about the minimum amount one has to deposit in order to open an account with this broker. Usually, forex brokers require their clients to make an initial investment of around $200. Of course, there are many who require less or nothing at all.

 

Average Spreads & Commissions

According to the real-time quotes on the broker’s website, it offers a fixed spread of 2 pips for the EUR/USD pair. In fact, most fixed-spread brokers offer similar spreads, and charge no commission fees. Yet, there are other CySEC-regulated brokers who provide better and whose trading conditions are transparent – for example, you may check out easyMarkets. You may also compare the spreads provided by some of the world’s leading brokers at our dedicated page.

 

Maximum Leverage

PRCBroker offers leverage up to 1:100, which is a low ratio, yet it is in line with the latest measures proposed by CySEC. Nonetheless, most Cypriot brokers still offer high maximum leverage ratios - easyMarkets offers leverage up to 1:400. You may check out more forex brokers offering leverage equal to or exceeding 1:500 here.

 

Trading Platforms

 

This broker offers its clients two trading platforms: the industry’s standard MetaTrader 4 (MT4), and MetaTrader 5 (MT5).

 

The MT4 is preferred by most traders, because it is user-friendly and yet reliable and equipped with professional trading tools. It supports automated strategies, offers extensive back-testing environment and a number if build-in technical analysis tools, as well as advanced charting package.

 

The main advantage of MetaTrader 5 over its predecessor (MT4) is the fact that it enables traders to execute trades on different financial markets (including stock markets) through a single account. In addition, MT5's execution is faster and after the hedging option was added to it last year, among other enhancements, it gained popularity both among forex traders and brokers.

 

Methods of Payment

 

We could not find any information about the payment methods supported by PRCBroker. The broker must offer at least Credit/debit card payments and bank wire trans, that is, if it is active.

 

Conclusion

 

PRCBroker holds a CySEC license and that is its only big advantage. Otherwise, the information on trading conditions and accounts on its website is limited, which may be sign of a lack of transparency. Here are, in a nutshell, the advantages and disadvantages with regards to this broker.

 

Pros  Cons
Well-regulated  Limited information on trading conditions
Both MT4 and MT5 offered  No demo accounts
Commission-free trading     Only fixed spreads (?)

 

Latest news about PRCBroker
No news about PRCBroker. Check back later.
Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Belize CySec, FCA, IFSC MT4, MT5, Web $10 Review Website
Cyprus, Australia CySec, ASIC MT4, Web,
Mobile app
$100 Review Website
Australia ASIC MT4, MT5,
IRESSTrader
$100 Review Website
UK, Cyprus, Australia FCA, CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia FCA, ASIC MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
Australia ASIC MT4, MT5 $100 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website

Traders` reviews for PRCBroker

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

de | cn | ru