PRCBroker Information
Founded in 2015, PRCBroker is a regulated broker registered in Cyprus, offering trading on forex, precious metals (gold & silver), crude oil, and stocks with leverage up to 1:100 via the MT4 and MI5 platforms. The minimum deposit requirement is as high as $500.
Pros & Cons
Is PRCBroker Legit?
PRCBroker is a regulated broker, holding valid licenses from prominent financial regulatory bodies.
It operates under the supervision of the Cyprus Securities and Exchange Commission (CYSEC) with a Straight Through Processing (STP) license, bearing the number 253/14.
PRCBroker also holds an offshore retail forex license numbered 14788 from the Vanuatu Financial Services Commission (VFSC). This license regulates its operations for traders who are out of Cyprus.
Regulated brokers are highly recommended as they are bound by the standards and regulations imposed by these financial authorities, providing an added layer of security for traders.
Market Instruments
Account Type
PRCBroker provides its traders with Standard and ECN accounts. The Standard account, optimal for novices or intermediate traders, necessitates a minimum deposit of 500 USD.
Alternatively, for seasoned or professional traders, the ECN account is available, although it asks for a significantly higher minimum deposit of 50,000 USD.
Additionally, PRC has introduced a fresh account management system known as KingsMam, specifically designed for fund managers. This MAM (Multi Account Manager) system facilitates fund managers to manage multiple accounts efficiently and simultaneously, providing a solution for investors to leverage the expertise of professional traders. It essentially streamlines the process and handles the administrative complexities of multi-account management.
Leverage
PRCBroker provides different leverage options for its two account types.
For the Standard account, traders can avail a leverage of up to 1:100. In contrast, the ECN account offers a lower leverage of up to 1:50.
It's important for traders to understand that while leverage can amplify profits, it can also magnify losses, so it should be used responsibly.
Trading Platform
PRCBroker offers its clients the use of both MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms. These platforms are well-regarded in the industry for their advanced functionalities, customizability and user-friendly interfaces.
MT4 is known for its robust charting capabilities, wide range of technical indicators, and the ability to use and create Expert Advisors (EAs) for automated trading.
On the other hand, MT5, as an upgrade of MT4, boasts enhanced features such as additional timeframes, more technical and fundamental analysis tools, and the ability to trade a wider variety of instruments.
Customer Support
PRCBroker is committed to providing support to its clients round the clock and hence, offers customer service 24 hours a day, five days a week. Their customer support team can be reached through several channels.
For instant communication, there is an online chat option available on their website.
Alternatively, you could also get in touch with them via phone. For Cyprus-based clients, the contact number is +357-9623-6568 and for those based in Vanuatu, the contact number is +678-513-1393.
If you prefer communication through email, you can write to them at support@prcbroker.com.
Frequently Asked Questions (FAQs)
Is PRCBroker regulated well?
Yes. It is regulated by CYSEC and offshore regulated by VFSC.
On PRCBroker, are there any regional restrictions for traders?
Yes. It does not provide services to residents of the USA, Mauritius, Canada, Haiti, Suriname, North Korea, Puerto Rico, and Hong Kong.
Does PRCBroker offer industry leading MT4 & MT5?
Yes. Both MT4 and MT5 are available.
What is the minimum deposit for PRCBroker?
$500 for the Standard account, while $50,000 for the ECN account.
2024-10-21 14:36
