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Primus Capital Markets UK (PCM UK) Review - is it scam or safe?

Primus Capital Markets UK (PCM UK) Review - is primuscapital.uk scam or good forex broker?

RATING: 3 / 0 REVIEWS Primus Capital Markets UK (PCM UK)
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Trading Accounts & Conditions

 

Account type Minimum deposit Minimum trade size Maximum leverage Average Spreads 
Variable Unknown 0.01 1:1000 1.5 pips
ECN Unknown 0.01 1:1000 0.4 pips + $7 per lot

 

Primus Capital Markets UK (PCM UK for short) offers the above account types. Actually, its website provides detail only on the trading costs – spreads and commission fees. That is why we filled the table above with the information we got from the demo account.

 


Primus Capital Markets UK Advantages

 

Solid regulation

The company behind the PCM UK brand, Primus Capital Markets UK Limited, is authorized to provide financial services by one of the most reputable forex regulators worldwide, the Financial Conduct Authority (the FCA). This is the most significant selling point of Primus Capital Markets UK Limited, as the FCA applies very strict rules for license holders. This means that clients of UK regulated brokers can trade with the ease of mind that their money is safe and their broker is trustworthy.

 

Competitive spreads

When it comes to the costs of trading, PCM UK doesn’t disappoint. Both accounts offer good trading conditions conditions. The key difference is that the ECN account includes a separate commission, while providing tighter spreads. While the average spread on the Variable account is on the upper end of average (1.5 pips on EUR/USD), the cost of trading on the ECN account amounts to around 1.1 pips per standard lot, which is an attractive pricing. For further information and comparison, check out the below link:

 

 

>> Real-time spreads of top forex brokers compared <<

 

 

MT4 platform offered

Another important aspect of a broker’s offering is the trading software which they use. PCM UK offers the highly praised MetaTradader4 (MT4). While web-based and mobile solutions are becoming more and more popular, MT4 is a preferred mostly for its standalone desktop application (although mobile and web versions are also available). The MT4 is reliable, easy to use and offers supreme charting and lightning fast execution. Moreover, it allows you to code your own technical indicators or automated trading strategy (Expert Advisor). Of course, if you are not good at coding, you may also or use those sold on the built-in marketplace.

 

 

PCM UK’s demo MT4 Variable account. Click on the image to zoom in.

 

High leverage

The leverage provided by PCM UK is not announced on its website, but when we registered the demo account, the maximum level available from the drop-down menu was 1:1000. This is a very high ratio, which we generally consider as a nice option. However, trading on margin has its dark side -  using high leverage involves greater risk of losses. That is why as of August, 2018, ESMA imposes a cap on leverage of 1:30.

 

 

Primus Capital Markets UK Disadvantages

 

Unpolished presentation

As we mentioned several times in this review, a lot of important details on the offer of PCM UK are not announced on its website – the maximum leverage provided, the minimum investment required for opening of real account, the minimum lot size, the payment methods accepted. This does not leave a good impression.

 

Relatively few CFDs

While Primus Capital Markets UK offers quite a lot currency pairs, its CFD offering is not very impressive – its clients can trade in some commodities and a couple of indices. There are no CFDs on shares, nor on popular cryptocurrencies such as Bitcoin and Ethereum.

 

 

>> Brokers offering Bitcoin trading <<

 

 

Conclusion

 

As its name suggests, Primus Capital Markets UK is a forex broker based in the UK. It offers trading on the renown MT4 platform with rather competitive trading conditions, although some of them are not disclosed. The main advantage of the broker is its solid regulation. The company behind it registered and authorized by the Financial Conduct Authority (FCA). We also suspect that PCM UK is part of the Primus family, which also consists of CySEC-regulated broker FXPRIMUS. 

 

Generally, FCA regulation is a testimony of the stability and reliability of a broker, as the UK regulator applies tight rules and supervision. Additionally, all brokers licensed in the UK must be part of the FSCS compensation scheme, which means clients' funds of up to £50,000 are covered in case of company bankruptcy.

 


>> Find more FCA regulated Brokers here <<

 

 

The key points about this broker:

 

Pros Cons
FCA regulation Unpolished presentation of trading conditions  
Solid trading platform (MT4) Relatively few CFDs
Competitive spreads  
High leverage available  

 

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Traders` reviews for Primus Capital Markets UK (PCM UK)

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