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PriorFx review

PriorFx


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 2193)
Author of PriorFx: Mohnot | Date 2021-10-24
PriorFX platform is so disgusting and awful.c As I got variable spreads and their price quotes aren't live. Also, the order execution is delayed and my position is slippage on the MT4 platform. Even I can't set my own customized EA for scalping and it didn't work. So I had made a withdrawal request of $342, but it proceed almost five days through Skrill. So I PriorFX broker so far.
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Author of PriorFx: Lebad | Date 2021-09-28
They were quick and professional when I needed help. Now that I have experience with trading I think the spread of my fills is just excellent. It is really fast. It has been 2 years I’ve use Prior Fx in trading forex. I made $400 in my account last month ,so far I have some positions open in EUR/ USD and GBP/USD, I can say that their execution is pretty fast no more than 3 seconds. My profit is 600-700$ a month and the process of withdraw is easy and without commissions.
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Author of PriorFx: Viea | Date 2021-08-12
Thanks to the recommendation of my friend, I am now enjoying the services of PriorFX. I wanted to trade for a while but I did not know which broker to deal with. Thankfully, my friend got in touch and was able to share his trading experiences.
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Author of PriorFx: Collin | Date 2020-09-04
I matched their offer perfectly, their minimum deposit for both accounts is $250, the maximum leverage is 1:200. This month I have earned almost $200 profits and I can also withdrawal my money swiftly by Neteller. I have no any problem so far. So I am satisfied with Prior Fx service.
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Author of PriorFx: Devazier | Date 2020-06-22
I've satisfied with the trade PriorFX platform. As I've found the fixed spread and better execution on their desktop or web-based platform, it is user-friendly and builtin with a lot of tradings tools. So I can use them for better results. recently month I've gained almost $430 and able to withdrawal all of my profit through my Neteller account. Really I am pleased with PriorFX.
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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.
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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.
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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.
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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.
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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.
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