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Price Markets Review, Rating and Comparison

Price Markets Review

RATING: 3 / 0 REVIEWS Price Markets
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Trading Accounts

 

Account type Minimum deposit  Minimum trade size Maximum leverage Average Spread
ECN $500 0.01 1:400  0.2 pips on EUR/USD+ commission fee ($2.50 - $7 per lot round turn)

 

This broker offers its clients just one account type, except the demo one – an ECN account with a leverage up to 1:400 and competitive spreads.


What is more, PAMM accounts are available for Money Managers.


The Company


Price Markets (UK) is a trading name of Velocity Trade International Limited, a FCA-regulated global provider of foreign exchange trading services with operations in Toronto, Montreal, New York, London, Sydney, Auckland and Cape Town.


Serving both both institutional and retail customers, Price Markets offers trading in currency pairs, commodities and indices to individual traders through the popular MetaTrader 4.


Security of Funds


Velocity Trade International Ltd., operating under the trading name Price Markets (UK) is authorised and regulated by the Financial Conduct Authority (FCA).


Regulation by UK’s financial watchdog is famous for its strict requirements and supervision. To acquire a license from the FCA, brokers have to prove their financial stability and to meet a number of requirements. For instance, clients` funds are to be kept in segregated bank accounts separated from the company’s operating funds. What is more, licensed companies must hold a minimum of €730 000 in order to prove their financially stability.


Regulation by FCA also involves additional guarantee to clients’ funds, since they fall under the Financial Services Compensation Scheme, where the maximum compensation cover is £50,000 per person per regulated firm, in the event the broker is at default.


Here is a list of more FCA-regulated brokers.


Trading Conditions


Minimum Initial deposit
The minimum initial deposit with Price Markets is 500 USD, EUR or GBP, which is on the high end of the average amount demanded by most brokers. In comparison, FOREX.com demands $250, and XM requires just $1 from clients in order to start trading.


Average Spreads & Commissions
Price Markets low variable spreads, the average on EUR/USD amounting to just 0.2 pips. The broker, however, charges commission fees ranging from $1.25 to $3.5 per lot (per side), depending on the volume traded.


In comparison, Trading212 (also FCA-regulated) provides variable spreads amounting to 0,9 pips on EUR/USD and charges no commission, while FxPro charges $4.5 per lot and offers average spreads as low as 0.4 pips on the EUR/USD for its cTrader accounts. You may look up here real-time spreads of 15 leading brokers.


Maximum Leverage

The standard leverage available to Price Market clients is 1:200/1:100, but it can be increased on demand to a maximum of 1:400. Such leverage ratios are deemed relatively high, although many other FCA-regulated brokers offer similar or higher leverage rates. FOREX.com offers a maximum leverage ratio of 1:200, FxPro - up to 1:500, and XM – up to 1:888. More forex brokers offering leverage equal to or exceeding 1:500 can be viewed here.


Keep in mind that higher leverage involves higher risk, not only the probability of multiplied profits earned on a small deposit. It is a double-edged sword.


Trading Platform


Price Markets supports the powerful MetaTrader 4, allowing traders to use Expert Advisors (EAs) and let the program do all the work. This is one of the reasons MT4 to be the preferred platform by most traders What is more, it offers a number of technical indicators, extensive back-testing environment and advanced charting package. Here is a list of more forex brokers offering MT4 platform.


In addition, free VPS is available to clients trading more than 10 standard lots round-turn per calendar month.


Methods of Payment


Clients of Price Markets can make deposits to and withdrawals from their accounts via bank wire, credit/debit card, e-wallets and other local payment options globally. The broker does not charge any fees for deposits and withdrawals above 20 USD, GBP or EUR equivalent.


Accepted Currencies: USD, EUR, GBP, JPY, CHF.


Conclusion


Price Markets (UK) is a well-regulated forex broker, who admits to act as a Market Maker, offering competitive trading conditions in an ECN environment. To sum up the above, here are the Pros and Cons with regards to this broker.

 

Pros Cons
Low spreads Comparatively high initial deposit
MT4 available No choice of trading platforms
FCA-regulated  


 

Latest news about Price Markets
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Traders` reviews for Price Markets

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

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