Prince Markets Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-10-15 18:41

Abstract：Registered in Seychelles, Prince Markets is a forex broker through their trading platform. It offers live, demo and Islamic accounts. However, their license is empty and their website is not available.

　　Note: Prince Markets' official website: https://princemarkets.com/# is currently inaccessible normally.

Prince Markets Review Summary
Founded	2020
Registered Country/Region	Seychelles
Regulation	Unregulated
Market Instruments	Cryptos, forex, indices, shares, commodities
Demo Account	✅
Leverage	Up to 1:500
Spread	/
Trading Platform	Proprietary Trading Platform (PTP)
Min Deposit	$100
Customer Support	Contact form
	Phone: +41 (44)26-242115
	Email: support@princemarkets.com

　　Registered in Seychelles, Prince Markets is a forex broker through their trading platform. It offers live, demo and Islamic accounts. However, their license is empty and their website is not available.

Pros and Cons

Pros	Cons
Diverse market instruments	Unregulated broker
Demo accounts available	No MT4 or MT5
Multiple account types	No 24/7 customer service
No deposit fees

Is Prince Markets Legit?

　　Prince Markets is an offshore, unregulated entity accessible via princemarkets.com. The company claims to possess two licenses. One is supposedly issued by the Financial Services Authority (FSA) of Seychelles, with the number SD037. The other is from the Cyprus Securities and Exchange Commission (CySEC), bearing the number 138/11. At first glance, this might appear legitimate.

　　However, the FSA license is entirely fabricated, and this particular number is frequently employed by other fraudulent companies. The FSA has even issued a warning on this matter. Furthermore, the Cypriot license actually belongs to a different firm, TopFX. Thus, the scam is unmasked.

What Can I Trade on Prince Markets?

　　In Prince Markets, you can trade cryptos, forex, indices, shares, and commodities.

Tradable Instruments	Supported
Forex	✔
Commodities	✔
Indices	✔
Cryptocurrencies	✔
Shares	✔
ETFs	❌
Bonds	❌
Mutual Funds	❌

Account Type

　　Prince Markets offers multiple account types.

Account Type	Minimum Deposit	Execution Type	Swap Free	Standard Lot	Margin Call
Silver	$100	Market Execution	No	65	50% / 30%
Gold	$500			65
Platinum	$5,000			100
Palladium	$100			100

Leverage

　　Prince Markets offers different leverage ratios for each accounts: 1:500 for the Silver accounts, 1:400 for the Gold accounts, 1:300 for the Platinum accounts and 1:100 for the Palladium accounts.

Prince Markets Fees

　　In Prince Markets, they claim they do not charge commissions for their accounts.

Trading Platform

　　The Proprietary Trading Platform (PTP) by Prince Markets is a powerful multi-asset trading terminal that offers more than 200 trading instruments across six asset classes.

Deposit and Withdrawal

　　Prince Markets accepts Mastercard, Visa, Skrill, Neteller, Bank Transfer, Fasapay, Nganluong.vn, Dragonpay, ZOTAPAY, and Paytrust88. It does not impose any deposit fees.