Hextra Prime Spreads, leverage, minimum deposit Revealed

Registered in	St. Vincent and the Grenadines
Regulated by	No effective regulation at this time
Year(s) of establishment	2-5 years
Trading instruments	Currency pairs, metals, energy
Minimum Initial Deposit	$15
Maximum Leverage	1:5000
Minimum spread	0.01 pips onwards
Trading platform	MT4, own platform
Deposit and withdrawal method	sure pay, rhb, affinbank, bsn, cimb, ambank, hongleong bank, publicbank
Customer Service	Email/phone number/address/live chat
Fraud Complaints Exposure	No for now

　　General information and regulations of Hextra Prime

　　Operating from Kingstown, Saint Vincent and the Grenadines, Hextra Prime is an online retail broker that was launched in 2020. Hextra Prime currently only accepts clients from Asia & the Pacific confederation, specifically from South East Asia. Hextra Prime does not provide services to the American region, Arab states, CIS countries, and European nations. Hextra Prime does not fall under any regulatory agency at this stage.

　　In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on.

　　At the end of the article, we will also briefly summarize the main advantages and disadvantages so that you can understand the broker's characteristics at a glance.

　　Market instruments

　　Currency pairs, metals, energy.... Hextra Prime allows clients to access a series of trading markets. However, we must admit that there are not as many instruments as other forex brokers provide. cryptocurrencies, stocks and indices are currently unavailable.

　　Spreads and commissions for trading with Hextra Prime

　　In the case of Hextra Prime, spreads and commissions depend on the instrument and the account. Let's take a raw account as an example. Minimum spreads are about 0.01 pips and commission is $3 - $6 per lot.

　　Account Types for Hextra Prime

　　Demo Account: Hextra Prime provides a demo account that allows you to try out the financial markets without the risk of losing money.

　　Live Account: Hextra Prime offers a total of 4 account types: standard, cashback, bonus and raw. The minimum deposit to open an account is $15, $15, $15 and $100 respectively. The threshold to open an account at Hextra Prime is quite low. However, we should also realize that too little capital not only reduces losses, but also reduces profitability. Therefore, you may find it “unexciting” or unprofitable. In addition, accounts with smaller initial deposits tend to have poorer trading conditions.

　　Trading platforms offered by Hextra Prime

　　As for the trading platform, Hextra Prime provides its clients with two options. There is public platform such as MT4 that have served many clients worldwide, also Hextra Prime's own platform. If you didn't want to spend time familiarizing yourself with a new platform, you could choose MT4. But Hextra Prime's own platform provides better compatibility with businesses, as they are specially developed and customized platforms. The choice is yours.

　　Leverage offered by Hextra Prime

　　Hextra Prime offers a maximum leverage of up to 1:5000, which is a generous offer and ideal for professional traders and scalpers. However, since leverage can magnify your profits, it can also result in a loss of capital, especially for inexperienced traders. Therefore, traders must choose the right amount according to their risk tolerance.

　　Deposit and withdrawal methods and fees

　　As for deposits and withdrawals, the company lists only a few payment options, but does not cover the most important parts, such as additional fees, minimum amounts, time required for procedures, etc. the possible payment methods are: sure pay, rhb, affinbank, bsn, cimb, ambank, hongleong bank, publicbank.

　　Educational resources

　　There is no education section on the Hextra Prime website. Many brokers are able to provide a variety of educational resources such as video courses, seminars, e-books, related articles, glossaries that provide some basic knowledge about trading. This is not the case with Hextra Prime.

　　Customer support of Hextra Prime

　　Below are the details about the customer service.

　　Language(s): English

　　Service Hours: 24/5

　　Email: support@hextraprime.com

　　Address: Hextra Prime LTD. Suite 305, Griffith Corporate Centre, 1510, Beachmont, Kingstown, Saint Vincent and the Grenadines

　　Users exposures on WikiFX

　　We have not received any reports of fraudulent activity at this time. However, this does not necessarily mean that this broker is safe and you should remain vigilant to prevent being scammed.

　　Advantages and disadvantages of Hextra Prime

　　Advantages:

　　High leverage

　　MT4

　　Demo account

　　Low minimum deposit

　　Disadvantages:

　　No effective regulation

　　Few instruments available

　　Few information available

　　Few deposit and withdrawal information

　　No MT5

　　No copy trading

　　No educational resources

　　Frequent asked questions about Hextra Prime

　　Is this broker well regulated？

　　No, it is currently not effectively regulated and you are advised to be aware of its potential risks.