Prevail FX-The overview of minimum deposit, leverage, spreads

General Information

Prevail FX presents itself as a Saint Vincent and the Grenadines-based leading online trading provider founded in 2020, offering its clients the worlds popular trading platform, leverage as high as 1:500, variable low spreads and commissions on 100+ tradable assets, as well as a choice of three live account types.

Market Instruments

Prevail FX advertises that it offers more than 100 trading instruments, including 55 currencies, 73 stocks, 38 cryptocurrencies, forex, indices, commodities. Some other trading assets like precious metals like gold, oil and energy are also available.

Account Types

There are three different live trading accounts provided by Prevail FX, apart from demo accounts, namely Standard, Pro and VIP. Opening a Standard account requires the minimum initial deposit of $50, while the other two accounts require much higher initial capital, $250 and $5,000 respectively.

Leverage

Traders holding different account types can enjoy different maximum leverage ratios. Clients on the Standard or Pro account enjoy the leverage as high as 1:500, while the VIP account with the leverage up to 1:250. Attention that too high leverage is not always beneficial for traders due to its consistent gains and losses.

Spreads & Commissions

Different account types are equipped with different spreads and commissions. The spread in the Standard account starts from 1.5 pips with commission of $7 per lot, the Pro account starts from 0.4 pips with commission of $8 per lot, and the VIP account from 0.0 pips with commission of $4 per lot. Note that if you invite traders successfully, you will get commission of $5 per lot on the Classic account and $2 per lot on the ECN Pro, while the VIP account from every single trade your client makes.

Trading Platform Available

In terms of available trading platforms,Prevail FX says it offers renown and easy-to-use MetaTrader4 platform, which is available for Windows, OS X, iOS and Android and featured with a rich and user-friendly interface.

Deposit & Withdrawal

Prevail FX seems to accept payment via Bank and Credit/Debit Cards. Note that it will process withdrawals via the same method that you used to deposit. As it displayed on the interface of FAQ from its official site, it claims that it may charge some deposit and withdrawal fees which vary according to different payment methods. As for withdrawal processing time, it says that it usually processes withdrawal requests within 24 hours on business days. Bank withdrawals can take 3 to 7 working days to be seen on the clients account, while Credit/Debit Card withdrawals take much more time, around 8 working days.

Customer Support

You can get in touch with Prevail FX through telephone: +447184049362, email: support@prevailfx.com. In addition, you can also follow it on some popular social media platforms such as Instagram. Company address: Suite 305, Griffith Corporate Centre, Beachmont, P.O. Box 1510, Kingstown, St. Vincent and the Grenadines.