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Pruton Capital Review - Is it scam or safe?

Pruton Capital Review - is prutoncapital.com scam or good forex broker?

RATING: 1.9 / 1 REVIEWS ForexBrokerz Pruton Capital
Pruton Capital is an offshore broker. Your money is not safe.

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Trading Accounts

 

Account type Minimum deposit Min/Max trade size Maximum leverage  Average Spreads 
Standard $10 000 0.1/20 1:200 2.4 pips

 

In fact, the information on trading accounts and conditions of this broker is rather scarce and contradictory. That is why we will assume that Pruton Capital offers a single account type (which we call Standard for convenience) that is commission-free, and offers variable spreads on the industry’s standard MetaTrader 4 platform. Although the broker claims to offer micro lots, when we tried out the demo MT4, we found that the minimum trade size is 0.1 (micro lot).

 

The Company. Security of Funds

 

Company

Country

Regulation

 Pruton Mega Holding Limited

Indonesia

Commodity Futures Trading Regulatory (BAPPEBTI)

 

Established in 2006, Pruton Capital (PT Pruton Mega Berjangka) is a Jakarta-based broker that nowadays maintains offices in Singapore, Malaysia, Thailand, Vietnam, Laos, China, Hong Kong, and Pakistan. It offers trading in a wide range of financial instruments - forex, precious metals, various CFDs, and binary options.

 

The company behind the brand, Pruton Mega Holding Limited is operates under the supervision of Indonesia’s Commodity Futures Trading Regulatory and is also a member of the Jakarta Futures Exchange (JFX), and of the Indonesian Derivatives Clearing House (IDCH).

 

As the regulatory system for the financial services sector in Indonesia is still in its infancy, there isn’t a formal set of requirements for financial service providers, except holding a BAPPEBTI and abiding the Sharia law. Besides, we found there is an FPA Traders Court guilty vote against this company and the popular forum (Forex Peace Army) recommends a high level of caution dealing with Pruton Capital.

 

Worse still, this broker is present in Malaysia’s Central bank (Bank Negara Malaysia) list of known companies and websites which are not authorized, nor approved under the relevant laws and regulations administered by BNM to provide financial services.

 

Trading Conditions

 

Minimum Initial Deposit

We could not find any information about the minimum investment required by Pruton Capital, however according to a couple of user reviews on the FPA forum, traders have to invest a minimum of $10 000. Such initial deposit is very high, as most brokers require a deposit of $200 - $250 as a start.

 

Spreads & Commissions

In one section of its website, Pruton Capital says it offers spreads starting from 1.2 pips on EUR/USD, and on another – 0.8 pips for this pair. However, when we tried out the broker’s demo MetaTrader, it turned out that the typical spread for the EUR/USD is around 2.4 pips, which is a very high value. By comparison, leading global broker FxPro, which also operates in Indonesia, offers spreads averaged 1.4 pips on EUR/USD on its commission-free MT5 accounts.

 

Leverage

The maximum leverage level offered by Pruton Capital is 1:200, which is average for the forex market. Nonetheless, a number of brokerages, FxPro included provide leverage up to 1:500 or higher.

 

Higher leverage levels allow some small traders to score big profits with low initial deposits, however this also means greater risk.

 

Trading Platform

 

Pruton Capital offers the renown MetaTrader 4 (MT4) platform.

 

MT4 combines an intuitive user interface with a feature-rich environment, and provides everything a trader needs to analyze market dynamics, place orders, manage positions and automate trades via EAs.

 

 

Pruton Capital's desktio MT4. Click to enlarge.

 

Methods of Payment

 

Pruton Capital supports a small range of payment methods – bank wire transfer, credit/debit cards, as well as e-wallets PayPal and Skrill.

 

Conclusion

 

Pruton Capital is a regulated Indonesian broker, which offers trading in forex and various CFDs on the MT4 platform. Unfortunately, Pruton Capital’s spreads are way too high, the information on its website is controversial and untrue. In addition, the broker’s reputation in the forex circles is not very good. To sum up the above:

 

Pros Cons
Regulated High spreads
MT4 available    High initial deposit?
  Negative reputation

 

Latest news about Pruton Capital
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Traders` reviews for Pruton Capital

Spread

Pros

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Slippage

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Requotes

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Price feed

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Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

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Cons

 

 

Summary

Pros

Cons

 

 

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