PCM UK Review – 5 things you should know about primuscapital.uk

PCM UK Review – 5 things you should know about primuscapital.uk

Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

 

Primus Capital Markets or PCM UK is a British forex and CD broker, licensed and authorized by the Financial Conduct Authority (FCA) in the UK. They offer a good selection of currency pairs with a choice of two trading platforms – the Platinum API and the MetaTrader4, and the option for a free VPS (Virtual Private Server) service.

In the PCM UK portfolio we counted some 45 forex pairs with a number of exotic currencies including Chinese Yuan, Turkish Lira, Swedish Krona, Polish Zloty, Hungarian Forint, Mexican Peso, Singapore Dollar, Hong Kong Dollar, South African Rand and Norwegian Krone.

Other trading instruments include CFDs on spot metals like silver and gold, oil, indices, stocks and even crypto coins – at least the major ones, like Bitcoin, Ethereum, Ripple, Litecoin and Dash.

PCM UK trading conditions

We consider spreads offered by PCM UK attractive. The benchmark EURUSD spread floated between 0,3 pips and 0,5 pips, which even with the trading commission of 7 USD per lot remains competitive.

A commission of 7 USD per standard lot (100 000 base currency units) basically adds 0,7 pips to the spread, when the second currency of the pair is USD. So in the case of EURUSD the actual spread is 1,1 pips, which is fine. Have in mind that spreads are considered competitive only when starting below 1,5 pips.

The leverage offered by PCM UK is in line with the new European Securities and Markets Authority (ESMA) regulations that came into force on August 1st. With the new rules, aimed at curbing the investment risks for retail traders, the maximum leverage allowed with forex transactions on the Europena market is caped at 30:1, while the leverage with CFD trade is caped at 20:1.

Have in mind that leverage levels are already cut down in the US and Japan, where the maximum leverage allowed is 50:1 and 25:1 respectively.

PCM UK trading platforms

PCM UK offers a choice between the classic MetaTrader4 and Platinum API – a platform that offers direct market access to PCM clients who wish to use the FIX Protocol for a customized trading experiences with minimal margin requirement – just 1% for forex, gold, silver and oil trade. The minimum deposit with the Platinum API platform, however, is much higher – 50 000 USD.

To say a few words about MetaTrader4 as well – the platform is well known to most traders for its excellent charting tools, customizable market indicators and the option to run automated trading sessions with the help of specially designed trading bots.

PCM UK regulation & safety of funds

PCM UK is owned and operated by the UK based Primus Capital Markets UK Limited and as we already mentioned it holds a license by the Financial Conduct Authority (FCA) in the UK, which along the Australian Securities and Investments Commission (ASIC), the National Futures Association (NFA) in the US and the Cyprus Securities and Exchange Commission (CySEC) is one of the most respected financial regulators in the industry.

You can always trust well regulated brokers as they are required to file regular reports, to allow external audits, to maintain a certain minimum capital adequacy ratio, to keep all clients funds in a segregated, protected form creditors account and in some cases even to insure traders money.

With a FCA regulated broker for example you are entitled to receive back up to 50 000 GBP of your trading capital in the unlikely event your broker is insolvent,

With unregulated brokers on the other hand the safety of your investment depends solely on the integrity of the people, who operate them. Unfortunately, quite often such brokers happen to be run by scammers.

Also, be aware that sometimes scammers use details of legit companies to try to convince investors they are one and the same company. This is called a “clone company”and we came across one web site, which is trying to do exactly this -www.primuscapitalhk.com uses the PCM UK logo in an attempt to mislead investors.

PCM UK deposit/withdrawal methods and fees

With most brokers you can deposit and withdraw funds with all major credit or debit cards like VISA and MasterCard, a bank transfer and popular e-wallets like Neteller and Skrill. With PCM UK the good news is they do not have a minimum deposit requirement, unless you wan to take advantage of the Platinum API trading platform and open an ECN account.

Rich Snippet Data
Review Date
Reviewed Broker
PCM UK
Broker Rating
41star1star1star1stargray

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