WikiFX Review: something you need to know about PU PRIME

If you want to know whether PU PRIME is a reliable forex broker or not, please continue to read.

In this article

WikiFX provides inquiry services in the forex field.

WikiFX evaluates the reliability of PU PRIME based on the facts.

What is WikiFX？

WikiFX is an authoritative global inquiry platform providing basic information inquiry and regulatory license inquiry.

WikiFX is able to evaluate the safety and reliability of more than 40,000 global forex brokers.

WikiFX gives you a huge advantage while seeking the best forex brokers. For more information, such as the review and exposure of brokers, please visit our website (https://www.WikiFX.com/en)

1. Evaluate the reliability of PU PRIME based on its general information and regulatory status

PU PRIME is founded in 2015, and PU PRIME claims itself to be a world-leading online broker. It offers over 200 products, including forex, indices, commodities, shares, and cryptocurrencies. PU PRIME provides services to 120 countries and regions. In addition, PU Prime has 19 global offices and offers support in over 18 languages.

Account Types

Four trading accounts are available with PU Prime: Cent, Standard, Islamic and Prime accounts.

Leverage

The maximum trading leverage offered is up to 1:500, a generous offering. High leverage is ideal for scalpers and professional traders. Since leverage can amplify gains as well as losses, inexperienced traders should take care to choose the proper amount that they feel most at ease with.

Spreads & Commissions

Spreads and commissions are determined by the trading accounts you are holding. Standard and Cent accounts are offered a zero-commission trading environment, accompanied by wider spreads, with spreads from 1.3 pips in these two accounts. Prime accounts and Islamic accounts offer raw spreads coming with a low commission of $3.5 per lot per side.

Trading Platform

PU Prime gives its clients three choices of trading platforms: WebTrader, MT4, and MT5, as well as a proprietary trading app. However, due to recent issue, the MT4 and MT5 may not be good choices for trading.

Customer Support

Lastly, as for customer support, clients have quick access to customer service via live chat. In addition to a web form, there is a phone number and an email address.

Telephone: +248 4671 948

Email: info@puprime.com

Social Platforms

you can keep up with PU PRIME on popular social media platforms, such as Facebook, Twitter, and YouTube.

B. Regulatory Status

What is a Legitimate License？

1. The legitimate license is the business license issued by the financial regulatory institution of each country/region.

2. Holding a license means that the broker is recognized and regulated by the regulatory authority, therefore your money is under protection to some extent.

3. Whether a forex brokerage firm holds a legitimate license or not is one of the important factors to evaluate the reliability of forex brokers.

4. The content of the regulation and the difficulty of obtaining a license vary with the country and agency issuing the license.

The legitimate license of PU PRIME

PU PRIME is a regulated broker. According to WikiFX, PU PRIME is regulated by CYSEC with license number 342/17. However, the FSA regulation with license number: SD050 is an offshore regulation. And this broker exceeds the business scope regulated by NFA (license number: 0528809) and FSCA (license number: 52218)

2. Exposure related to PU PRIME on WikiFX

On WikiFX, the Exposure consists of feedback from traders. A bad track record of brokers can be checked via Exposure. WikiFXs Exposure function helps you get feedback from other traders and remind you of the risks before it starts.

As of November 16, 2022, WikiFX has received more than 15 complaints against this broker within 3 months. Below are some cases we want to show you.

3. Special survey about PU PRIME from WikiFX

A. Scoring Criteria

WikiFX gives brokers a score from 0 to 10. The higher the score is, the more reliable the broker is.

The Scoring Criteria of Brokers on WikiFX

License index: reliability and value of licenses

Regulatory index: license regulatory strength

Business index: enterprise stability and operational capability

Software index: trading platform, instruments, etc

Risk Management index: the degree of asset security

This broker has been given by WikiFX a decent rating of 6.05/10.

B. WikiFX Risk Alerts

Conclusion:

It is no doubt that PU PRIME is a regulated broker. However, as you can see, the score of this broker on WikiFX has been reduced due to too many complaints. We advise you to be aware of the potential risks. If you want to know more information about the reliability of certain brokers, you can open our website (https://www.WikiFX.com/en). Or you can download the WikiFX APP to find the most trusted broker for yourself. If you have any problems with this broker, please do not hesitate to contact WikiFX. The global customer service of WikiFX is +234-706 777 7762 on WhatsApp. Or you can call +65-31290538. We are willing and ready to help you out.

Click on PU PRIME' WikiFX page for details