Hello
Do you have experience with the PriceMarkets broker from the UK?
https://pricemarkets.com/
There is little information about this broker.
Have you traded with this broker or do you have information about it?
Are deposits / withdrawals fast and hassle free?
Hi Nitay,
I think you have just answered your own question. There are thousands of brokers out there. Why ask questions about one you have not heard of before? That sounds to me like you are asking for trouble. Learn How to Trade the Markets there is stuff on here about choosing a broker. First you need to decide what kind of broker would be most suitable for you not for every one else on a forum you don’t know.
The most important thing for me is whether the broker is honest.
Does the broker withdraw without problems?
There are not many opinions about this broker, so I am asking.
IMO, this broker is trustworthy and properly regulated, although you need $5,000 starting capital on a live account.
Thanks Steve369
That’s why I became interested in this broker because it has FCA regulations.
I am looking for practical traders’ opinions before investing the minimum $ 5,000 required.
Have you had a live account with Price Markets or heard from someone who traded with them?
My only live market broker is advertising on this site, i.e. IC markets. I have found no fault with their monetary transactions to and from my account, executed on same day, as all client money is held separately in major AUD banks. They cannot access your capital. And you get a daily e-mail showing your trades outcomes and updates of funds available. My only gripe is that there is often a long holdup if you need to use their chat line, but when linked up, the person is very competent unlike some other broker reps.
If PM demand heaps of identification documents from you to open an account, I would suggest they’re kosher regulated - and they have been in business for many years.
What brought you to this broker specifically? There are many FCA regulated brokers out there, many much bigger and more well known.
I was looking for a broker to trade in commodities, oil and gas.
This week in the evening PriceMarkets expanded the spreads on gas from 5 to 1,300 points !!! so now I have a lot of doubts whether to deposit.
I wrote an email to them why they had set such a huge spread and what about their clients’ open positions in this situation, but so far I have not received an answer.
Did you check market news, or the spreads of any other broker? Spreads widen when risk rises.
I checked, of course.
Other brokers - normal spread, as always at night, approx. 15 to 30 points.
At the same time, PriceMarkets spread 1300 points !!!
This is a very huge spread.
Today I got an email from PriceMarkets, luckily I didn’t make a deposit and trades:
"
Hello,
Dear clients,
We regretfully confirm that your retail account with Price Markets UK Ltd. will be terminated with effect from 05/11/2020. This is due to internal restructuring rand closing our retail business operations.
Please close current positions and withdraw the deposit due course. If we do not hear from you by then - your open positions will be closed by our tech department and deposit will be sent to your bank account listed with us.
"
Since the broker is out now, for FCA better go with brokers who are multi regulated and trusted like ICM, Fxview or Pepper.