Price Markets was created in 2013 with the purpose of providing its clients with a world-class trading environment. Using its ECN approach, the broker collects the quotations of the major liquidity providers in the financial markets. NeroEx is a proprietary technique that allows for ultra-fast execution times.
It caters to more experienced traders and provides a good assortment of products as well as a reasonable cost structure. The Financial Conduct Authority has also given the firm its approval (FCA).
The broker offers the MetaTrader 4 platform, which includes 30 built-in indicators, 2000 custom indicators, and 700 premium options, and gives a comprehensive trading experience with extensive analytical tools. The platform may be downloaded or accessed via most web browsers on desktop devices.
It’s also accessible as a mobile trading app for iOS and Android phones and tablets. Interactive charts, one-click order execution, and an economic calendar are all included in the program. The mobile app can also be used to make deposits and withdrawals.
The broker offers the following assets:
- 5 commodities including oil and gold
- 35+ currency pairs
- 12 indices
The only notable absence is cryptocurrencies as well as stocks.
Spreads and Commission
On all foreign currency and commodities transactions, the broker imposes a $3.50 per lot retail trading fee. Each party pays a 25-bp fee on the index. Spreads are competitive, but market factors may cause them to vary. Forex spreads begin at 0 pips. GBP/USD has a normal spread of 1.3 pips, while EUR/USD has a spread of 0.3 pips. Indices are available in increments of 0.5 points. For overnight holdings, the broker additionally charges swap rates. The VPS costs $50 per month, while the cloud solution costs $245 per month.
On currency pairings, the business offers up to 1:30 leverage, which is in compliance with ESMA regulations. Up to 1:20 leverage is available on indices and commodities. A margin percentage ranging from 3.33 percent to 10% applies to all retail instruments. These levels strike a fair mix between allowing customers to grow the size of their positions without putting them at danger.
In comparison to other retail brokers, the minimum deposit is substantial, starting at $5,000. Unfortunately, deposits are charged a fee, while Skrill transfers are charged a 4% cost. In addition, there are just three payment options:
- Skrill – Within 30 minutes
- CardPay – Within 30 minutes
- Bank transfer – Within 1 business day
Withdrawals are processed in the same way as deposits and take one business day to complete. Only Skrill withdrawals are subject to the fee, which ranges from 3% to 7% for non-euro payments. Again, this is a pretty limited list, and other brokers provide a larger range of payment choices as well as reduced costs.
Users who wish to test out the MT4 platform can do so using a free demo account provided by the company. You may register directly on the broker’s website with just a few basic contact data. You may try scalping and high-frequency trading methods and get full access to all accessible financial instruments. When you’re ready, you can switch to a genuine account.
Overview of rules
The Financial Conduct Authority of the United Kingdom regulates the broker (FCA). It is a well-respected regulatory agency that adheres to tight guidelines. Segregated accounts, negative balance protection, and restricted retail leverage are all advantages for clients. Third-party audits and a variety of additional licensing requirements are also in place to safeguard traders. This is a positive indication that Price Markets may be relied upon.
The firm also provides a number of useful extra tools and services. Using bespoke C++ smart order routing logic, develop algorithmic trading and auto-execution. The MT4 bridge, which links to over 30 liquidity providers and provides 24/7 assistance, is available for a 30-day trial. After the trial time, the monthly fee is $1,000. Market makers and algorithmic trading organizations can also use more powerful enterprise-level intermediary services.
There are additional cloud hosting options available. A regular VPS costs $50 per month, with individual and corporate services costing up to $2,000 per month. The firm also offers industry-leading FX delivery services, including 24-hour access to the currency markets with margins as low as 1%.
Traders must complete out an online form to create an account. Identification documents and evidence of residency are necessary, as well as information regarding work, education, and financial status. There is just one retail account offered by the broker:
- 30x leverage
- Minimum deposit $5,000
- Negative balance protection
- FSCS protection up to £50,000
- Base currencies
A FIX API Professional Account is also available, which requires a $50,000 minimum deposit and offers 200x leverage with a $8 per million USD fee. Before opening a professional account, traders must demonstrate that they can fulfill several financial requirements and have a trading experience.