Zurich Prime review
About the company:
Zurich Prime positions itself as an NDD broker.
About company. Security of funds
Zurich Prime is a forex broker headquartered in Romania and owned by the U-Nix Solutions. It is registered in the offshore zone of the Marshall Islands. This broker is not regulated. Moreover, the British FCA (in 2015) and the Ontario Securities Commission (OSC) (in 2016) warned traders that Zurich Prime operated in their jurisdictions without appropriate licenses. Most often, such warnings indicate that the specified company is a fraud.
Zurich Prime offers a wide range of live trading accounts including an Islamic account without swaps. Nevertheless, there is no demo account.
The broker also provides its customers with a wide choice of trading assets such as currency pairs, CFD on various instruments, indexes, commodities, and stocks.
The minimum deposit is $ 500. Taking into consideration the fact that the broker does not have any licence, such amount of money is rather large to start trading. Traders should be aware that their investments are not protected.
Spreads and commissions
The size of the spreads depends on the type of account that traders open and their initial payment: the higher the deposit amount, the lower the spread. So, the owners of the Platinum account that requires the highest deposit ($50,000) are offered a spread of 1 pip. Those who have opened the Standard account ($500) can choose spreads that start from 2.3 pips.The broker does not charge fees: Zurich Prime earns on spreads and commissions per night.
The maximum leverage offered by the broker is 1:400. Traders should always remember that leverage increases not only profits but also losses. Therefore, many regulators start limiting controlled brokers with the leverage of up to 1:30 or 1:50.
Zurich Prime offers the Sirix trading platform for desktop, web, and mobile devices. It was developed a few years ago by Leverate. Its functions are similar to those of Metatrader. Additionally, the broker provides traders with the opportunity to copy transactions of other users of the platform.
Social trading with Sirix. The social trading platform helps traders make money by copying trade deals. This function is good for beginners or those who do not want to spend time on trading.
A client can receive a bonus of up to 100% of the deposit. Yet it is not clear how the size of a bonus is defined and whether there are any additional bonuses.
The customer service is based in Romania. Customers can contact a Zurich Prime representative by phone from 9:00 to 21:00 local time from Monday to Friday or by e-mail.
Zurich Prime offers several ways to make a deposit. Apart from credit cards and wire transfers, the broker also accepts deposits via Neteller, Ukash, Qiwi, WebMoney, WesternUnion, and MoneyGram.
We have checked Zurich Prime's Facebook page and found out messages from clients who called the broker a scam and complained that their money had disappeared from their accounts or they were unable to withdraw their funds. There are also many complaints in the review section of the broker's trading app for Android on Google Play. Many clients warn that this broker is a scam.
Traders should take these comments into account and think twice before investing in Zurich Prime. There are many other regulated brokers that offer similar or better trading conditions.
Zurich Prime 0/10 (votes 2238)