PrizmFX-Overview of Minimum Deposit, Leverage, Spreads

Note: Since PrizmFXs official site (https://prizmfx.com/) is not accessible while writing this introduction, only a cursory understanding can be obtained from the Internet.

General Information & Regulation

PrizmFX, a trading name of PrizmFX Limited, is allegedly a broker based in the UK that provides its clients with the industry-standard MetaTrader5 trading platform, flexible leverage up to 1:200, variable spreads from 2 pips on over 60 tradable assets, as well as a choice of four different account types.

Market Instruments

PrizmFX advertises that it offers more than 60 trading instruments in financial markets, yet when we tested in the demo MT5 account, we found that there are only less than 30 currency pairs, as well as CFD on gold available for trade.

Account Types

There are four live trading accounts offered by PrizmFX, apart from demo accounts, namely Starter, Expert, Pro and Prime. Opening a Starter account requires the minimum initial deposit amount of $100, while the other three account types with the much higher minimum initial capital requirements of $1,000, $5,000 and $10,000 respectively.

Leverage

Traders holding different account types can enjoy different maximum leverage ratios. Clients on the Starter account can enjoy the maximum leverage of 1:200, the Expert account can experience the leverage of 1:150, while the Pro and Prime account with the leverage of 1:100. Bear in mind that leverage can magnify gains as well as losses, inexperienced traders are not advised to use too high leverage.

Spreads

Spreads are influenced by what type of accounts traders are holding. PrizmFX reveals that the spread on the Expert account starts from 2.2 pips, the clients on the Pro account can experience spreads from 2.1 pips, while the Starter and Prime account with spreads from 2 pips.

Trading Platform Available

When it comes to trading platforms available, PrizmFX gives traders the worlds most widely-used MetaTrader5 trading platform. MT5 is known as a solid multi-asset platform equipped with the advanced trading package, as well as automated strategies (EAs), hedging, numerous technical analysis indicators, customization options, etc.

Deposit & Withdrawal

PrizmFX accepts deposits and withdrawals with bank wire, credit/debit cards like VISA and MasterCard, as well as popular e-wallets like Neteller and Skrill, yet we cannot be sure if these payment options are all available. The minimum deposit requirement is $100.

Customer Support

PrizmFX customer support can be reached by telephone: +1182871971, email: support@prizmfx.com. Company address: Hinds Building, Kingstown, Saint Vincent and the Grenadines.