Forex Broker

PriorFx review


On-line since: 2014
Country of origin: the Republic of Cyprus
Regulation: CySEC
Payment options: credit cards (Visa, Mastercard), bank transfer, Neteller, Yandex.Money, WebMoney, Qiwi, Skrill, UnionPay China
Minimum account size: $250
Minimum lot size: 0.01 lots
Leverage: up to 1:400
Spreads: from 0.1 pips

About company:

The PriorFX STF broker founded in 2013 offers its clients to trade more than 40 currency pairs, precious metals, commodities, indices, and CFDs on the MetaTrader 4 platform.

The brand belongs to the PriorFX Ltd. investment company which is located in Cyprus and registered in the EU. It is also regulated by the Cyprus Securities and Exchange Commission (CySEC).

CySEC applies certain rules to Cypriot investment companies. For example, in order to prove their reliable financial conditions, they must have a capital of at least EUR 730,000. In addition, the Commission requires brokers to keep clients' funds in segregated accounts, separately from the company's operating funds.

Besides, all CySEC-regulated brokers are members of the Investor Compensation Fund, which can pay compensation of up to EUR 20,000 if the company goes bankrupt.

Trading conditions

Clients of PriorFX can choose between two account types, Standard or Xchange. The only difference between them is that there is no commission for the Standard account, while the Xchange account has commissions and offers significantly lower spreads. The minimum deposit for both accounts is $250, the maximum leverage is 1:200. Both account types allow micro lots.

Spreads and commissions

PriorFX provides floating spreads.The average spread for the EUR/USD pair is about 1.5 pips on the Standard account. Compared with offers of other brokers, PriorFX's spreads are quite standard in the industry. The average spread on the Xchange account for the same currency pair is 0.5 pips. There is also a commission of $8. So, the total costs for trading can be about 1.2 pips per lot.

Trading platform

This broker supports the standard MetaTrader4 (MT4) trading platform.

MT4 is a world-famous trading platform that offers a full range of trading objects and tools such as more than 50 built-in technical indicators, an expanded package of graphical objects, a lot of advisers and extensive opportunities to test them. Traders can download ready-made strategies or create their own ones. Moreover, EA Programming is available as well. PriorFX's clients can use MetaTrader 4 through PCs and mobile devices.

PriorFX cooperates with MyFXbook, which allows customers to copy deals of successful traders. The AutoTrade service is easy to use, so it quickly became popular among traders. One of its various advantages is that clients do not need to install the software to join the Social Trading community.

Payment methods

PriorFX offers the following payment methods: credit /debit cards, bank transfer, and electronic payment systems such as Skrill, Neteller, Yandex.Money, WebMoney, Qiwi, and UnionPay China. In addition, customers can use the PriorFX card for depositing and withdrawing funds.

The broker accepts USD, CHF, GBP, and EUR.

PriorFx 3/10 (votes 2192)
Author of PriorFx: Endrik | Date 2020-05-20
Starting with their micro account and deposit for $800 using Qiwi, the transaction really fast within 1 hour only and I can start trading without any problem using their trading platform that they provide for me. I got $125 bonus from their bonus system. This broker provides comfortable conditions to trade and work. Their support always helps me to solve problems right away whenever I face.
Author of PriorFx: Armira | Date 2020-02-13
Just want to share my personal trading experience about this company. 1 year with Prior Fx and I still remember my initial deposit was $3000 and to be honest profit and losses was there. In order to reduce and to minimize the risk of lost I also implemented stop order and take profit which I found it is very useful for trading strategy. Till now I have earn $900 and withdraw $2100 via Qiwi within 4 hours. while I haven't any technical issues with them and I am pleased about their service. So I think Prior FX are the professional broker and recommendable company to others. I hope all I well.
Author of PriorFx: Clairs | Date 2019-12-18
Trading at PriorFX one of the best moments in my life. In this investment, I can feel that I am doing something right and productive. I started at this broker in 2017 and I am still with them currently. Everything about this broker is just great. What attracted me the most is their tight spread and great trading platform. Their deposit and withdrawal system is also commendable.
Author of PriorFx: Dwisasmita | Date 2019-11-11
I trade with this broker for 10 months with a first deposit of $1000, I enjoy their trading conditions with no commission, and a spread from 0.01 pips. I use their platform which is very helpful for my trading strategy. I trade currency pairs EUR/USD with a 0.03 pips on average, and AUD/USD the same spread. My profit increased with each month, at the beginning I had $350 profit, now is close to $800 a month. I withdraw only one time $750, the rest of the profit I keep it in my account to could trade more volume. They are broker without hidden commissions for withdraw.
Author of PriorFx: Tanchie | Date 2019-05-08
I am new to trading and PriorFX is my first Forex broker ever. After knowing that they are affiliated with MyFXbook which I heard offers a copy trade system, I went for it and opened an account right away. I was told that it will be helpful for beginners to copy trades from other traders while familiarizing myself with the working environment. Certainly, it helped me a lot. PriorFX is a broker that caters to the needs of novice traders.
Author of PriorFx: Cezil | Date 2019-01-31
I can vouch that PriorFX is a reliable broker. Although I haven't reached a year in this broker yet, I have seen their efforts to fulfill clients' satisfaction and needs. First of all, they have a team of experts analyzing the market and providing daily analysis. This is helpful to all traders. Secondly, they offer many trading instruments and even the less popular pairs are actively traded. They also have dependable customer support who are available 24/5. As for deposit and withdrawal, there will be no problem since they have many payment methods. Mine is through Neteller and the transaction is very fast. I already withdrew $350 and I did not encounter any problem.
Author of PriorFx: pipdini | Date 2018-11-19
I have use PriorFX for my trading broker since 2017 and I can said that the broker is honest and doesn't manipulate the prices on the market so I really recommend everyone to join trading here. Their platform works fine on desktop or Android even in the morning until midnight, and the execution is instantly as I make an order. For this almost a year I haven't ever had an issue with them like freeze platform, slippage or waiting for funds on my account. Their commissions are ok that almost 30% a side. Till now I withdraw profit from my account by Visa, Mastercard so I can make it anywhere and everytime and the money transferred timely. I prefer this broker so far and ttey surely deserve a 5 star rating!
Author of PriorFx: fxkalom | Date 2018-05-04
I am still trading in standard account with PriorFX because I think in this broker set account size is relevant to me as a trader who just have small capital. I like the platform, everything was smooth from trading to payment processors, for almost 10 month I join trading here I didn't experience any problem with them. I made my last deposit on Monday about $300 via UnionPay in about 3 hours after I made a withdraw request, the profit and the bonus is in my bank account. I had no problems doing it, am happy with their service and love this broker.
Author of PriorFx: Ricardofx | Date 2018-03-12
I have a standard account with a first deposit 300$. I trade with short term positions and mainly after-noon, when the market is stable. The platform MetaTrader 4 has real time prices and good stable spread. My profit is close to 400$ a month, trading currency pairs EUR/USD and USD/CAD, sometimes also I trade gold. PrioriFx has a nice spread of EUR/USD on average 0.2 pips. I never had re-quotes and to withdraw was easy, with approval within 24h. I recommend this broker.
Author of PriorFx: Fighterpip | Date 2017-12-20
I trade with PriorFx with a standard account in USD currency for a couple of months and till now I like their services. Is use also MyFXbook to copy trades sometimes. Usually I trade with them EUR/USD, USD/CAD, USD/JPY, USD/CHF. The platform MetaTrader 4 works fast in execution with real time quotes. My profit is on average 500$ a month. To withdraw is easy and the process takes 24-48h. I recommend the broker because has transparent policy fees.
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