Before you sign up with an online broker, you are highly advised to look into a detailed review so you know what you are getting your hands into. Trading is a great way to make money but only when you partner with the right people. There are great online brokers and then there are some looking for every opportunity to make money from you. You can sign up with experienced and tenured brokers for the trust that they have developed in the market, or you can sign up with a new broker that understands new and modern traders and their requirements better. If you are looking for the latter category, you should consider PRIMECAPITEC.
PRIMECAPITEC is a new and emerging online broker providing stock, forex, and cryptocurrency trading services to traders from around the world. This trading platform has been designed with modern traders in mind and you can tell that from many of the features. However, you can’t expect perfection when you are signing up with online brokers. When a broker is great at doing something, it is definitely weak it doing some other things. What can and cannot afford when signing up with an online broker is going to help you decide which on you should sign up with.
Now, here is a detailed PRIMECAPITEC review that should help you know everything about this broker. We’ll make sure to go into the details of its best features and the ones that need improvement. You can then make your decision about the broker because that’s solely your choice.
Everything You Should Know about PRIMECAPITEC
· Introduction to PRIMECAPITEC
This broker provides you with a trading platform where you can trade a variety of financial instruments and assets. Now, right from this particular feature you can tell that the broker is targeting modern traders. In the past, you could trade in only one financial market at a time. For example, if you wanted to trade in the forex market, you could choose a broker that provided you with stock trading access through its trading platform. The same could have been done if you were looking for a forex trading platform. However, things have changed drastically in the current times. You can now trade your assets in your favorite financial markets from the comfort of home and one platform.
Now, it is important to mention here that the broker will provide you with leveraged trading. What is leveraged trading? If you are new to trading, you definitely need to know about this particular concept because it can make or break things for you in the trading world. So, leveraged trading is when the broker you sign up with contributes money in your trades to help you maximize your profits. Some assets have huge values and the money in your account is not enough to trade them. That’s where your broker jumps in. The broker provides you with the amount that you need to enter the trade.
An important thing that needs your attention here is that the broker will contribute a lot of money. The leverage is always stated on the website of the broker in the form of a ratio. It could be 1:2, 1:5, 1:10, 1:50, 1:100 and even more. When you look at 1:50, it means that your broker is going to contribute 50 dollars for every single dollar that you spend on the trade. You can do some basic calculation here to know the size of your trade if you get 1:50 leverage from the broker and decide to contribute 100 dollars from your side.
However, there is a flip side to leveraged trading i.e. it maximizes your losses as well. You have to make sure that you invest your money in the right asset. Do you proper analysis and evaluation before you invest your money on an asset and make sure that you only maximize your profits, not your losses. So, when you trade with PRIMECAPITEC, you will be able to get some leverages as well. The best thing is that you will be getting this leverage not only on forex and stock trading but cryptocurrency trading as well. In other words, if you do things right, you can make a lot of money with this broker.
PRIMECAPITEC has been created by professionals who have been in trading for many years. Their combined experience has turned them into trading gurus who can guide your investments in the right direction and create a platform that truly benefits the trader. While the broker might not be the oldest on the market, it is definitely one of the fastest emerging new brokers right now. Most importantly, PRIMECAPITEC allows its traders to use its platform from anywhere in the world. So, it does not matter which country you are in when you decide to sign up and trade with PRIMECAPITEC.
· Education on Trading
It is amazing how the online trading world has broken the current status of the old education system and replaced it with something completely new and more practical. In the past, it did not matter where you wanted to work in the world or which company, you had to complete your education from some prestigious university first. This type of education system had made it difficult for people on budget to get education and better jobs eventually. However, online brokers have designed a completely new system in which you don’t have to rely on third parties to get trading education.
If you want to learn trading, you can learn it from the broker you sign up with. Yes, the important thing to consider here is that the broker you sign up with should have some good education on the topic of trading. You will find many online brokers that have only basic education on their website that is based on random collection of ebooks from the internet. In other words, they have not even bothered to work on the educational material on their own. They collect some ebooks from other brokers and put them on their website. What makes matters worse is that they charge you extra money to get access to those ebooks and training material.
However, you will not be faced with a scenario like this when you sign up with PRIMECAPITEC. The broker has provided you with all the basic education necessary for you to start trading right on the website. You don’t see many online brokers doing this. They always keep even the basic side of their education hidden. Why do they do this? Well, they want to make money from you and by telling you that you can sign up with a paid account to access the educational material, they are clear in their intentions. Pay for education or return uneducated. That’s not the mentality of this broker.
If you are looking only some basic information about trading, you will find that on the website. In fact, you might not even require any course to start trading once you have read the basic information on the website of the broker. This basic information tells you all about trading using many different scenarios. In addition to that, it also explains to you the difference between fundamental analysis and technical analysis. These are the two types of analyses that every trader in the world uses when trading. So, once you understand these analyses, you can start trading with confidence. Of course, you will still need some advanced learning, but you can make some small profits with the basic education you get from PRIMECAPITEC.
You will be surprised to know that the broker has explained even risk management on its website. In most cases, online brokers don’t tell you about risk management. In fact, there are some online brokers that won’t allow you to use the hedging technique while trading, which is a technique all about minimizing your risks and losses. On the other hand, you have PRIMECAPITEC that explains what risk management is and gives you examples to explain the idea to you. In addition to that, the broker has also provided you with some great tips on how you can minimize your risks. You can say that this is the sign of a truly dedicated online broker that wants the best for its traders.
· Assets and Financial Markets
When you are a new trader, you should be looking for freedom of choice. You should not narrow down your choices completely because that would make you a trader that cannot take risks. In reality, only the traders who are able to take risks make great money. Trading is all about taking risks, small and big. All the speculation, charting, graph reading, technical analysis, fundamental analysis, etc. is there for traders to minimize their risks. However, despite all these tools and strategies, the trader has to take some risk to enter a trade. Small risks mean small profits on your trades. On the other hand, big risks mean you can make huge profits on your trades.
Now, when you sign up with an online broker, you should look at all the assets that you will be able to trade with the broker. If you don’t have many choices, you would want to look for another broker. Whether you are a new trader or an experienced one, you need to find a broker that provides you with many options in the financial markets. This way, you can pick the assets that go best with your trading style. In addition to that, a large asset index gives experienced traders a great opportunity to distribute their risks across many assets. You will be glad to know that with PRIMECAPITEC, you will be trading in a variety of financial markets at the same time.
You can trade the assets that make the most sense to you. For example, if you like trading currency pairs because they make sense to you, then you have a lot of currency pairs to invest your money in when you sign up with this broker. You can also invest your money in stocks. These stocks come from the biggest and most well-known companies of the world. These companies may be from any industry, so you have a lot of choice. You can find some big companies, such as Microsoft, Google, Amazon, Apple, etc. in stocks when you sign up with this broker. Investing in these large companies can often constitute a safe investment.
Of course, if you like to take risks, you have some other options as well. First of all, you can consider investing your money in exotic currency pairs. These currency pairs show a lot of volatility. However, if you know a little about how they work, you can definitely make a lot of money by trading them.
The best option you have with this broker is of trading cryptocurrencies. Cryptocurrencies are the newest assets in the world. They are so new that a lot of people in the world do not even understand what they are. However, if you have some basic understanding of cryptocurrencies, you can trade them with PRIMECAPITEC. The broker provides you with the access to many different cryptocurrencies in addition to the usual suspects like Ethereum and Bitcoin. What makes things even better is that you can trade these cryptocurrencies with leverages so you can increase the size of your trades and make a lot of money if things go your way.
· The Trading Platform
The trading platform from PRIMECAPITEC is one of the best you can get your hands on when you are trading online. This trading platform gives you access to all the financial markets and assets that you want to trade from the same place. You don’t have to switch to any different applications or modules just because you want to trade cryptocurrencies, forex currency pairs, and stocks at the same time. The same trading platform is good enough for you to trade these assets. You can open multiple orders in these markets at the same time when you have access to this trading platform.
Now, a lot of new traders want their trading platform to be available on their phones and tablets as well. Seeing that PRIMECAPITEC is a broker that has always paid attention to the requirements of modern traders, you could not have expected the broker to lag behind here. The broker has taken care of this challenge by providing you with a web-based trading platform. With this trading platform, you will not require any downloads. You will be able to use the trading platform from any part of the world. The best thing is that you can use this trading platform on any device of your choice.
Why is that possible with a web-based trading platform? Well, a web-based trading platform runs like a website on your device. How do you open a website? You simply open the browser, enter the name of the website, and then use it. You will do the same to open this trading platform. You just access the trading platform through the PRIMECAPITEC website and use it from any device you want. You will not have to worry about any issues with the operating system on your device. Whether you have an iPhone or an Android phone, you should be good to go and use the trading platform without any worries at all.
· The Account Types for Traders
To start trading with an online broker, you first have to open your trading account. A trading account gives you access to the financial markets and assets that you are trying to access. It also gives you access to a detailed training program that turns you into a professional trader in no time. The same will happen when you choose a trading account with PRIMECAPITEC. You will get access to the education center based on the account type you choose. You have five different accounts types available with this broker. Each account requires a different initial deposit for you to activate it. In addition to that, you will get different features with different account types.
The most basic account with this broker is called the silver account. You can open the silver account by depositing 10,000 units of the base currency. As soon as you do that, you will have access to the basic part of the education center. You will also receive training from the professionals from the company in an in-person setting. While you will not be getting trading signals every single day, you will get them twice a month. If you don’t know, trading signals help you decide whether you should buy or sell a particular asset. Every experienced trader in the world uses this tool and you should learn to use it too.
You also have a gold, platinum, and signature account. The gold account will require you to deposit 25,000 units of your base currency to activate the account. You don’t get any account manager with the basic account, but with this one, you will have a personal account manager helping you whenever you need it. The other accounts are meant for advanced and professional traders. If you have been trading for many years and think that you deserve a special treatment, you should definitely choose the VIP account with the broker. The leverage on your trades continues to increase as you go from basic to advanced accounts.
· Customer Support from the Broker
Do you think you will get any help from the broker when you are in need? You don’t want to be relying on the FAQs section, which the new brokers have started to put on their websites as a replacement for contact details. Yes an FAQs section is great but it can never replace a phone call or an email to the broker. When you sign up with PRIMECAPITEC, you will face this particular issue. You have a detailed FAQs section on the website of the broker, but you can access it through phone and email as well. The contact details, registration information, etc. are there on the website. You can also use a web form to get in touch with the customer support, which is there to help you 24/5.
A Few Drawbacks of Trading with PRIMECAPITEC
It is not all amazing and great when you sign up with the broker. There are some weak points and the broker should definitely work on them before traders react. First of all, you don’t have any regulation information on the website, which means the broker is not regulated at all. Regulation is the most important thing for online brokers. They cannot win the trust of their traders if they are not regulated. In fact, if you look into professional online reviews, you will realize that regulation is the first thing that is talked about on all of them. More importantly, an unregulated broker is often seen as a scam, and if PRIMECAPITEC is serious with its business, it should definitely work to get regulated as soon as possible.
Secondly, you have to say that the account types have not been created with great wisdom behind them. Online trading is just as much for beginners as it is for experienced traders. However, when you have your basic account that cannot be opened unless the trader deposits 10,000 units of the base currency, you are not really helping new traders. There are hundreds of brokers that allow traders to start trading with just $100. Some can go down to even $5 to activate the basic account. With such options available on the market, you can’t really call the arrangement of trading accounts from PRIMECAPITEC intelligent.
So, you see that there are some great features that make PRIMECAPITEC one of the best new brokers on the internet. However, there are some other important points that need addressing from the broker. If you are a new trader, every detail matters to you and the broker should understand that. There is no doubt that the trading options, trading platform, and educational material are some great offerings from the broker. However, without proper regulation, traders might not even look at anything that the broker has to offer.