Beware! Priority Trading is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Priority Trading is a typical offshore fraudulent brokerage entity and a risk to all. Read the review to see how bad the broker is.
Priority Trading Regulation and safety of funds
| Guaranteed Funds | Segregated Accounts | Negative balance protection | |
| Priority Trading | ❌ | ❌ | ❌ |
| UK regulated brokers | £85 000 | Yes | Yes |
| EU regulated brokers | €20 000 | Yes | Yes |
| AU regulated brokers | No | Yes | Yes |
| US regulted brokers | Yes | Yes | No |
Saint Vincent and the Grenadines is the most popular of all FX fraudulent jurisdiction, where there are literally thousands of unlicensed brokers at any time. There in no FX regulator there, and the laws that current apply there seem not to care that the nation has a epidemic of scammers and scammer actors running rampant. This country remain a heaven for FX thieves.
In the legal docs, Priority Trading takes a U turn and claims to be located in Estonia. But the local regulator, the Estonian Financial Supervision Authority does not regulate this scammer broker, and Estonia is a popular scapegoat jurisdiction for scammers.
Priority Trading is unlicensed and a scam to all.
Priority Trading Trading software
| Analytical tools | Auto trading | Custom indicators | Mobile apps | |
| Priority Trading Web Trader | ❌ | ❌ | ❌ | ❌ |
| MT4 | 30+ indicators | ✅ | ✅ | Android |
| MT5 | 50+ indicators | ✅ | ✅ | Android |
| cTrader | 40+ indicators | ✅ | ✅ | Android and iOS |
We registered easily, whihc is a process that should not be take so light handedly considering that the firm is a scam. Anyway, we were sent to the web trader straight to it, and it seems that is acts as a hub area for the client portal:
There are some good features here and many of the available options are great, but the facts remain: this web trader is one that is popular with scammers, and it has been like this for years now. There is no reason to trust it whatsoever. It is definitely hiding something that the broker does not want to reveal.
Priority Trading Trading instruments
| Currency | Stocks | Indices | Crypto | Commodities | |
| Priority Trading | ✅ | ✅ | ✅ | ✅ | ✅ |
| XM | Yes | Yes | Yes | No | Yes |
| FBS | Yes | Yes | Yes | Yes | Yes |
| FXTM | Yes | Yes | Yes | Yes | Yes |
The trading platform gives us forex currency pairs, commodities, shares, indices, ETFs, bonds and cryptocurrencies. However, it would be a risk to trade with this broker, no matter how good the trading conditions seem
Priority Trading Spreads and cost of trading
| Priority Trading | XM | FBS | FXTM | |
| Spread EURUSD | 1.9 pips | 0.6 | 1 | 1.1 |
| Spread GBPUSD | 5.4 pips | 1.3 | 1.2 | 1.4 |
| Spread USDJPY | 2.7 pips | 1.3 | 1.2 | 1.4 |
The web trader also gives us an extensive look at some of the spread values, but the numbers themselves are ridiculous beyond reproach. The EUR/USD spread is 1.9 pips whihc is just on the cusp of being too high, considering that this is the most popular assets and one of the most competitive sides of any broker. As for the other major pair, the GBP/USD, it’s spread was 5.4 pips, and 2.7 pips for the USD/JPY asset. Both are only profitable for the broker.
Priority Trading Maximum leverage
| Forex | Stocks | Crypto | Gold | Indices | |
| Priority Trading | ❌ | ❌ | ❌ | 100:1 | 100:1 |
| UK regulated brokers | 30:1 | 5:1 | ❌ | 10:1 | 10:1 |
| EU regulated brokers | 30:1 | 5:1 | 2:1 | 10:1 | 10:1 |
| AU regulated brokers | 30:1 | 5:1 | 2:1 | 10:1 | 10:1 |
| US regulated brokers | 50:1 | ❌ | ❌ | ❌ | ❌ |
All the web trader told us is that the leverage on all assets is 1. That’s literally what it says. So we turned to the site for more info but found nothing there. The leverage values are basically non existent.
Serious readers should check these high leverage brokers at their convenience for some of the best high leverage brokers in the industry.
Priority Trading Deposit and withdrawal methods
| Deposit time | Withdrawal time | Fee | |
| Bank wire | 45 days | 7 days | $25 |
| Credit card | Instant | 7 days | Not specified |
| Crypto | 24 hours | 7 days | Fee depends on crypto |
The user area payment section was unavailable for some unknown reason, and we aren’t sure what happened. The withdrawal section states that bank, credit cards, and a BTC wallet are available as payment methods.
Withdrawals may take up to 7 days to process, while deposits via bank can take 45 days to process, and this is an actual clause form the legal documents. 45 days is more than enough time for the broker to disappear with an investment and block access to its website, cutting all communications with the victimized user.
Priority Trading Minimum deposit
| Priority Trading | XM | FBS | FXTM | |
| Minimum deposit | $500 | $5 | $10 | $5 |
The minimum deposit according to the website is $500, which, if you are aware witht eh contemporary FX indusrty, is a value that does not hold any claim at all. Considering that most legit brokers aim for low minimum deposit requirement, it’s obvious that this broker has other ideas.
Priority Trading Withdrawal requirements
| Trading volume | Fee/Tax on withdrawal | Minimum withdrawal | |
| Priority Trading | 1x | $250 no-trade withdrawal fee | No information |
| UK regulated brokers | No | No | No |
| EU regulated brokers | No | No | No |
| AU regulated brokers | No | No | No |
| US regulated brokers | No | No | No |
There is a $25 bank transfer fee, but it was not specified whether it applies for deposits or withdrawals. In similar cases where ambiguity reigns, it may be that it applies to both types of payments.
We read about a $50 dormancy fee activate only after 90 days of an account being inactive. This is top short a time to start charging such a high fee.
Crucially, we stumble upon the dreaded no activity commissions, which in the case of Priority Trading is a $250 withdrawal fees applied if a user sends a withdrawal request without having traded in his account before that:
There are also additional fees and charges that have not been revealed, and remain a mystery but a sure thing. It’s obvious that Priority Trading treis to steal as much monet from you as possible.
