PriorFX Review 2021

PriorFX Rated 3/5
learn more Learn more about eToro. 71% of retail investor accounts lose money when trading CFDs with this provider.
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PriorFX Guide - Read our In Depth PriorFX Review

This PriorFX review was written by industry experts with over 20 years of financial experience in Forex.
The content in this PriorFX review does not apply to US users.

What is PriorFX?

PriorFX are a global online financial trading platform and multi asset broker founded in 2013

Over 8 years later PriorFX has grown to offering retail investors Forex trading.

PriorFX are a global broker. PriorFX have a head office in Cyprus.

When trading in the financial markets it can be very time consuming to find a broker that meets your needs.

We will dive deep in this PriorFX review and assess how well the PriorFX platform functions in its role as an international multiple financial asset trading platform for traders in 2021.

Often you have to visit and read many broker websites all of which have different uses of language. The wording can be very confusing. Choosing an online broker like PriorFX can be difficult. For a beginner, the first few hurdles can come in the form of what appears to be a complex mobile or online trading platform, hard to understand investment terminology and confusing fee structures. In our review of PriorFX we breakdown the pros and cons. What PriorFX are able to offer, what countries PriorFX are available in. Who PriorFX are regulated by and more.

Having a reliable and capable broker is crucial to your success in online trading. Make sure that your broker is not fake or unreliable to avoid losing your investment. Ensure that your needs fit the profile of your broker as well, in order for you to have a good working profitable relationship.

This is why we have taken the time to review only the best brokerage firms, their practices, their fee structure and all other important aspects. We want you to evaluate and analyse and trust your hard-earned cash with only the safest and best of brokers. We hope you find this PriorFX review useful.

This review of the PriorFX platform is very detailed. If you are interested in trading with PriorFX in any capacity please take the time to read and research the whole PriorFX review.

We have tried to explain the ins and outs of financial trading through the PriorFX platform as plainly as possible so that you the trader are as informed as possible before you start to use the PriorFX trading tools and depositing and withdrawing funds from PriorFX.

Benefits of trading with PriorFX

Open PriorFX's Website

Your capital is at risk

Investing online can be just as risky as any other kind of offline investment. As with any investment, it is important to know and research the company you are dealing with. When trading financial assets with PriorFX like Forex trading. you should have confidence in PriorFX and know that the management of your financial investments on the PriorFX platform is in good hands.

At the bottom of this PriorFX review you can also learn about some pretty good alternatives to PriorFX

With this PriorFX review we hope to help you see if PriorFX is a good fit for you.

It is a common myth that online trading is confusing. It is only difficult for people who have not done the research. In this article, you will learn important information regarding PriorFX that will help you get off to a good start in the world of online trading.

PriorFX Review Table of Contents

PriorFX review
PriorFX is a Multi-Assets Trading Platform with over 100+ Assets

Learn more about PriorFX. PriorFX is a multi asset platform with 100+ tradable Assets. Assets available on PriorFX include Forex.

PriorFX trades in multiple financial asset types. An asset in financial investment, is any security or asset, tangible or intangible, that has a financial value attached. This means that Forex are considered financial assets.

PriorFX review
Features of PriorFX

PriorFX review
What you should know

PriorFX offer one way to trade: Forex.

With PriorFX you will need a minimum deposit of $50. You can sign up for a demo account to acquaint yourself with PriorFX platform.

PriorFX are able to accommodate various levels of traders whether you are experienced or a beginner.

PriorFX review
Are PriorFX safe?

When choosing a broker like PriorFX the administrative body and regulatory status of the broker is very important. Brokers who conduct trades without supervision of a regulatory body do so at their own discretion. Any capital you invest is at risk.

Established in 2013, and in operation for 8 years PriorFX have a head office in Cyprus.

PriorFX is regulated. This means PriorFX are supervised by and is checked for conduct by the Cyprus Securities and Exchange Commission (CySEC) regulatory bodies.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to PriorFX, this will be honored. If PriorFX violate any regulatory rules their regulated status could be stripped.

PriorFX review
Is my money safe with PriorFX?

Any payments funded to PriorFX accounts by traders are held in a segregated bank account.

For added security PriorFX use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

What are Tier 1 banks and why should PriorFX use them?

A Tier 1 bank is considered the safest and most secure regarding client capital. Tier 1 is actually a term describing the financial strength of a bank. A Tier 1 bank has strong core capital reserves and financial regulators utilize tier one banks because they are able to withstand unexpected financial losses.

What does it mean to have your funds in PriorFX deposited in a Tier 1 bank?

Having any money you deposit with PriorFX means that your funds are safe in a bank that has enough capital to accommodate your withdrawal wishes even if PriorFX goes out of business for some reason.

Therefore, we can safely conclude that PriorFX is secure and safe.

That said, please note that you can lose funds when trading in financial assets. Accounts can lose money due to either not putting enough effort into researching the markets, lack of experience or not using the tools provided by the brokerage platform.

While trading in financial investments, losing money rapidly due to trading Forex is not uncommon. Only take the risk of trading when you understand that your invested capital is at risk any time due to market volatility. PriorFX also clearly state on their platform that Your capital is at risk.

Now that we have answered some important questions regrding PriorFX. let us look at the PriorFX features in more detail.

Try creating two accounts when you are working with PriorFX. One is the real account, with your real money and the other is your demo account. The demo account is your experimental account.

Open a demo account Visit PriorFX

Your capital is at risk

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

How PriorFX as a Company Compare Against Other Brokers

Broker PriorFX eToro IC Markets XTB
Year Established 2013 2006 2007 2002
Head Office Cyprus Cyprus, UK Australia Poland
Regulation Cyprus Securities and Exchange Commission (CySEC) Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC) Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG)
Used By 10,000+ PriorFX users 17,000,000+ eToro users 60,000+ IC Markets users 250,000+ XTB users
Negative balance protection Yes Yes Yes Yes
Guaranteed Stop Loss No No No No
Learn More Visit PriorFX Visit eToro Visit IC Markets Visit XTB
Risk Warning Your capital is at risk 71% of retail investor accounts lose money when trading CFDs with this provider. Losses can exceed deposits 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

PriorFX review
PriorFX Pros and Cons

What we like about PriorFX

  • Used by over 10,000 PriorFX users and traders
  • Established in 2013
  • Regulated by Cyprus Securities and Exchange Commission (CySEC)
  • Min. deposit from $50

What we don't like about PriorFX

PriorFX review
PriorFX Regulation and Licensing in more detail

We have checked and PriorFX is regulated and supervised by reputable organisations. You are able to check every PriorFX supervisory and regulatory body given below. Regulation gives you some recourse for those who have issues with PriorFX. Regulatory authorities protect the traders with things like reimbursement schemes that regain the client's investment in the event the broker becomes insolvent.

The brokerage firms have to comply with a variety of rules and criteria determined by the recognized international authority with the intention to provide secure trading and stay licensed. The whole notion of regulation is to protect PriorFX traders and provide a safe trading environment.

PriorFX is governed and supervised by reputable financial regulatory bodies. Regulatory bodies monitor the behavior of the brokers and if things go wrong they will take necessary action. Before trading online with a broker such as PriorFX you should be sure they're legitimate online agent.

PriorFX review
Is PriorFX Global?

Yes, PriorFX is global as PriorFX is available in over 194 countries.

PriorFX is a global trading platform in the sense that it operates in 194 nations including nations in Europe, Asia, Oceania, and Africa. Major countries PriorFX covers include the UK, Germany, Australia, South Africa, Thailand, and China. PriorFX has a total of more than 10,000 users.

PriorFX review
PriorFX Fees Explained

  • PriorFX withdrawal fees varies on payment method
  • PriorFX does not charge a fee for inactive accounts.
  • PriorFX does charge deposit fees.

Brokers offer state of the art online trading platforms, mobile trading apps, financial research tools and educational resources. For a brokerage to maintain these services and earn revenue as a company, brokers may charge clients various fees.

How PriorFX Fees Compare Against Other Brokers

Broker PriorFX eToro IC Markets XTB
Min Deposit 50 200 200 0
Withdrawal Fees Varies Yes No varies
Inactivity Fees No Yes No No
Deposit Fees Varies No Varies No
CFD Commission Fees Yes No Yes Yes

PriorFX review
PriorFX Minimum Deposit

PriorFX require a minimum desposit of 50 GBP/USD when opening an PriorFX trading account.

A minimum deposit is the minimum amount of money required by PriorFX to open a new online brokerage account with them.

Dont be scared off by brokers like PriorFX charging a minimum deposit to open a trading account. Brokers that charge higher minimum deposits often offer additional premium services on there platforms that are not available for free on other platforms.

Brokers that offer lower minimum deposits are generally geared towards a more mainstream audience that do not require some of the more advanced features and research tools.

Brokers that do not charge minimum deposits do so usually to attract new customers. They have to make some way, so transaction commissions and other fees may be higher with a low minimum deposit account.

Brokers that require a larger minimum deposit amount usually offer a greater range of trading features on their platforms. These brokers often have more in depth technical analysis and research tools and better risk management features.

As more and more online trading platforms have entered the market, minimum deposit requirements to open a live trading account have gone down as an increasing number of brokers compete for new clients.

Depending on the type of trading account you opt for some brokers require a minimum deposit as high as 6500 GBP/USD. Some brokers can go as high as 10,000 GBP/USD.

PriorFX review
PriorFX Withdrawal Fees

PriorFX withdrawal fees vary depending on your selected withdrawal payment method.

Each broker has their own specific withdrawal rules on how your funds can be withdrawn from your trading accounts.

This is because each brokerage firm will have different withdrawal methods and each payment provider may have differing transfer processing fees and processing times.

PriorFX for example allow you to withdraw your funds to Credit cards, Bank Transfer, American Express, Neteller, WebMoney, UnionPay, QIWI, Debit cards, Payoneer.

PriorFX review
PriorFX Inactivity Fees

PriorFX does not charge a fee for inactive accounts.

An account inactivity fee is a fee charged to the registered brokerage client.

Brokers may have certain trading activity requirements that under the terms and conditions of the accounts, clients may have to fulfill.

If a clients trading account dues not have any buying and selling over a period of time as dictated by the broker an inactivity fee may be due.

Inactivity fees are not specific to online trading accounts. Many financial service companies may charge inactivity fees. Please check on the brokers website and make sure you are aware of and are happy with all the services and fees you may be charged.

If you are no longer using your trading account close it with the brokers customer support. And make sure you have a confirmation that any remaining fees are not due.

Depending on the type of account you have signed up for you can only be charged an inactivity fee under certain circumstances. As part of a brokers regulation they are required to clearly disclose any inactivity fees.

Some brokerage firms may charge inactivity fees as compensation for maintaining your account on their expensive trading platforms, in an attempt to claw back revenue for the lack of commission fees from your trading.

PriorFX review
PriorFX Desposit Fees

PriorFX does charge deposit fees.

Some brokers may charge a fee when you deposit funds from your payment method to your trading account. This is because the payment method which you use to fund your account may accrue a fee. The fee may be a fixed fee when you deposit a specific fiat currency to your account. For example fees are known to be high when depositing funds from a credit card. This is if your broker accepts funding your account via a credit card.

PriorFX review
PriorFX Commission Fees

PriorFX does charge commission on CFD instruments.

A broker may charge a commission fee as a service charge for facilitating the buying and selling of financial assets through your trading account.

A brokerage may make most of their revenue from charging registered traders a commission fee on client transactions.

Commission fees can differ depending on the trading type, financial asset type and what level of trading account you have.

Broker commissions are charged if the brokerage fulfills an order, cancels an order or modifies and order on your behalf.

If a market order is not fulfilled by your brokerage usually no commission is charged.

Be aware that if your order is modified or canceled, your brokerage may charge a commission fee.

PriorFX review
What can you trade with PriorFX?

Be aware that Different entities under PriorFX Brand offer different trading instruments due to regulatory restrictions. Trading instruments offered may differ based on the country of residence of the Client.

You can trade a wide variety of instruments with PriorFX over 100 instruments infact.

If you are looking at trading currency pairs PriorFX offer over 30 currency pairs.

Compare PriorFX with eToro and IC Markets below.

Your capital is at risk

How PriorFX Trading Options Compare Against Other Brokers

Broker PriorFX eToro IC Markets XTB
Instruments Available 100 2000 232 4000
Platforms MT4, Mac, Web Trader, Tablet & Mobile apps Web Trader, Tablet & Mobile apps MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac MT4, Mirror Trader, Web Trader, Tablet & Mobile apps
FX / Currencies        
Forex pairs offered 30 50 65 50
Major Forex pairs Yes Yes Yes Yes
Minor Forex pairs Yes Yes Yes Yes
Exotic Forex pairs Yes Yes Yes Yes
Cryptocurrencies No Yes Yes Yes
Commodity CFDs        
Commodities Offered 5 31 19 21
Metals Yes Yes Yes Yes
Energies No Yes Yes Yes
Agricultural No Yes Yes Yes
Indiced & Stock CFDs        
Stocks Offered 0 2042 110 1696
UK Shares No Yes No Yes
US Shares No Yes Yes Yes
German Shares Yes Yes Yes Yes
Japanese Shares Yes Yes Yes Yes
Risk Warning Visit PriorFX
Your capital is at risk
Visit eToro
71% of retail investor accounts lose money when trading CFDs with this provider.
Visit IC Markets
Losses can exceed deposits
Visit XTB
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

PriorFX review
Trading on PriorFX web platforms and other applications

PriorFX offer the popular MT4 forex trading platform. To see a list of the top MT4 brokers, see our comparison of MT4 brokers.

An PriorFX IOS or Android native App on your phone or tablet will Work quicker Than the Avatrade Website on the same device

PriorFX also offer mobile apps, for Android and iOS making it easier to keep an eye on and execute your trades while you’re on the move.


See PriorFX's platforms

PriorFX review
Is the PriorFX Trading Platform Secure?

PriorFX safeguards the personal information of its clients through SSL encryption in its PC and mobile platforms. PriorFX also urges its clients through its web platform to always look for the SSL security sign (a lock sign) o the browser while operating PriorFX.

PriorFX review
PriorFX Trading Platform Options

Once you have logged into your PriorFX account you will see the below trading platform options available to you.

  • MetaTrader 4 (MT4)

PriorFX does not offer the MetaTrader 5 (MT5) trading platform. If you are looking for a online platform that does support MT5 click here

PriorFX does not offer the cTrader trading platform. You can find a broker that supports cTrader here

Lets explore each of these trading platforms in detail and what options PriorFX gives you.

PriorFX review
PriorFX MetaTrader 4 (MT4)

PriorFX MetaTrader 4

MetaTrader 4 also known as MT4 is the number one trading platform on the planet and has been in active use on financial markets since 2005. The MetaTrader 4 software delivers a feature-rich, user-friendly interface and an extremely customisable trading environment, designed to ful fill all of your trading needs and boost your trading performance. Charting functionality and advanced order management tools make certain you could monitor your positions quickly and economically.

Understand that the MetaTrader 4 (MT4) trading platform was developed primarily to trade Forex but you can also trade other types of financial instruments through CFDs and Spread Betting. You will not be able to trade Stocks, Indices, Commodities, ETFs, Futures on any MetaTrader 4 (MT4) platform unless they are CFD contracts or Spread bets. You will not own any underlying assets with CFDs or Spread bets as you are speculating on price movements with PriorFX. You can learn more about the MT4 Platform here.

You can start using the MetaTrader 4 platform with PriorFX in multiple formats including through an online web platform, Through a downloadable application for Windows PC's and Apple Macintosh computers. PriorFX MetaTrader 4 is compatible with the latest macOS Mojave. PriorFX allows traders to trade on mobile devices through Android and IOS devices like the iPhone.

Metatrader 4 Webtrader on PriorFX

MetaTrader 4 is the most popular trading platform in the world as most and more traders begin to trade online Metatrader 4 is available as a web based application available through your web browser. MetaTrader 4 web software provides the same easy to use performance as the desktop version using advanced charting, a highly customisable trading environment, easy to access online trading tools and many different indicators. You can enjoy our Raw Pricing trading environment without a Dealing Desk from anywhere in the world.

Trade PriorFX MetaTrader 4 on IOS Devices

You can download the PriorFX app or also trade with PriorFX through the MetaTrader 4 application on the Apple app store.

Download the Metaquotes MetaTrader 4 Program for free of charge from Apple's App Store. IC Markets customers have instant access to this Financial markets, with the ability to completely manage a Portfolio on the go.

Trade PriorFX MetaTrader 4 on Android Devices

Andorid mobile devices and tablets are used by millions of people globally. PriorFX provides its clients access to the MetaTrader 4 platform on Android supported devices so that customers can monitor the financial marketplace and trade directly from their Android-based Smartphones and tablets. The Android PriorFX MetaTrader 4 Android application enable traders to make the most of multiple advanced trading features which enables them to monitor and trade Forex quickly on the go, simply and securely.

Trade PriorFX MetaTrader 4 Trading Central

Trading Centrals Alpha Generation Indicators is a Bundle of three Major indicators including:

  • Analyst Perspectives - A go-to resource for leadership and key levels.
  • Adaptive Candlesticks - Identifies chart patterns which illustrate important changes in demand and supply.
  • Adaptive Divergence Convergence (ADC) - Much like MACD however useful at shorter lengths and provides more timely signs.

PriorFX MetaTrader 4 Advanced Trading Tools

The PriorFX advanced trading tools for MetaTrader 4 are aimed at improving the total trading experience and providing traders with a competitive advantage. PriorFX offers access to 20 exclusive tools which includes feature rich trade execution & management programs, sophisticated notification alarms, messaging facilities, innovative market data & more.

Trade PriorFX MetaTrader 4 MultiTerminal

MetaTrader 4 MultiTerminal provides a intuitive easy to use dashboard where traders can administer and supervise several trading accounts. MultiTerminal will let you manage over 100 Accounts simultaneously allowing you to place market orders, pending orders, view live market prices and track all accounts and equity at real time. All Trading accounts must be in on the same MetaTrader server. MultiTerminal doesn't support Automated Trading scripts like Expert Advisors.

PriorFX MetaTrader 4 AutoChartist

PriorFX Autochartist provides the world's first Market Scanner available for MT4 using a non-trading Expert Advisor script. Scan markets for trading opportunities while viewing all symbols and time intervals from a single graph. Gone are the days of launching a lot of graphs on which you can't remember which currency you're taking a look at. Autochartist offers a simple user interface that can be customized to suite how you like to trade.

PriorFX Trading benefits :

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection

PriorFX Trading Accounts Offered :

  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Zero spread account
  • STP account
  • Managed account
  • Islamic account

Can I try PriorFX before I buy?

PriorFX offer a demo account so you can try before putting down funding payments. Open a practice account & learn to trade

Your capital is at risk

PriorFX withdrawal and funding methods.

Please note that the list of PriorFX payment methods below depend on the PriorFX Entity and the Clients Country of Residence.

All available PriorFX payment methods available to you can be found in your PriorFX members area checked on the PriorFX website.

PriorFX offer the below funding payment methods. learn more about PriorFX

PriorFX Payment Methods

  • PriorFX accepts Credit cards
  • PriorFX accepts Bank Transfer
  • PriorFX accepts American Express
  • PriorFX accepts Neteller
  • PriorFX accepts WebMoney
  • PriorFX accepts UnionPay
  • PriorFX accepts QIWI
  • PriorFX accepts Debit cards
  • PriorFX accepts Payoneer
Broker PriorFX eToro IC Markets XTB
Bank transfer Yes Yes Yes Yes
Credit Cards Yes Yes Yes Yes
Paypal No Yes Yes Yes
Skrill No Yes Yes Yes
Payoneer Yes Yes No Yes
Neteller Yes Yes Yes Yes

*please note available PriorFX and other broker payment methods depend on the clients country of residence.

How can I start trading with PriorFX?

When opening a trading account with PriorFX, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on PriorFX trading platforms here.

Your capital is at risk

Performing trades with PriorFX

PriorFX allow you to execute a minimum of trade of 0.01 Lot. This may vary depending on the account you open. PriorFX allow you to execute a maxium trade of 10,000 Lot. As PriorFX offer STP execution, you can expect tighter spreads with more transparency over the price you‘re paying to execute your trades.

PriorFX are one of very few brokers that claim to have no requotes, so you don't have to worry about slippage (your trades being ordered at a different price to what you executed them at).

As with most brokers, margin requirements do vary depending on the instruments.

PriorFX also offers a number of useful risk management features, such as stop losses (with trailing stops), limit orders, negative balance protection, price alerts, and much more. You can see all of the account features offered by PriorFX here.

Limiting Your Risk When Trading with PriorFX Negative Balance Protection

We should say something about negative balance protection with PriorFX. When trading using leverage an adverse move could result in losing more than your trading account balance at PriorFX. Your PriorFX account could potentially become negative. We recommend you making use of negative balance protection. Using negative balance protection ensures your losses will always be limited to the current balance of the money in your account.

Limit Risk When Trading with PriorFX Stop Loss, PriorFX Stop Limit Orders

A stop-loss order is an order placed with a broker like PriorFX to buy or sell once the stock reaches a certain price. A stop-loss is designed to limit a traders loss on a security position.

Most traders need to use stop losses to protect themselves from huge risk unless the trade is hedged against another trade or the trader is not using leverage. Circumstances differ depending on the trade and the markets.

Education resources at PriorFX

To trade effectively with PriorFX, it's important to get a have a good understanding of the PriorFX trading tools and the markets.

PriorFX offer a good selection of educational resources. Spend some time reading up on how the markets and trading works, making active trades, active trading times, and managing risk.

Having an analytical approach may be a good way to approach trading with PriorFX.

Take time to look around the PriorFX platforms and train yourself to think more systematically and logically about the markets. It's a new skill-set for many, but it is what the market requires of you.

Customer Support at PriorFX

PriorFX support a wide range of languages including English, Russian, German, Hungarian, and Arabic.

PriorFX have a double AA grade support rating because PriorFX offer live chat and email support in multiple languages.

Livechat Support at PriorFX

We tested the PriorFX live chat and it works well. We sent messages to PriorFX livechat through their app and website and recieved a response within 30 seconds.

We tested communicating with PriorFX support in multiple languages in multiple countries. PriorFX where able to quickly resolve our customer issues.

Email Support at PriorFX

PriorFX does not offer Email Support.

Phone Support at PriorFX

We called PriorFX and the call was answered very quickly. The call was answered in less than 5 minutes.

The PriorFX phone support team were able to successfuly answer our questions and issues over the phone. We tested the multilingual PriorFX team by calling in varying languages. PriorFX made an effort to make sure our queries were answered.

Overall great phone support from PriorFX.

See how PriorFX Support Compares Against Other Brokers

Broker PriorFX eToro IC Markets XTB
Support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
Languages English, Russian, German, Hungarian, and Arabic English, German, Spanish, French, Italian English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish
Learn More Visit PriorFX Visit eToro Visit IC Markets Visit XTB
Risk Warning Your capital is at risk 71% of retail investor accounts lose money when trading CFDs with this provider. Losses can exceed deposits 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

What you will need to open an account with PriorFX

As PriorFX is regulated by Cyprus Securities and Exchange Commission (CySEC), every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you'll likely be asked for the following, so it's good to have these handy:

Be aware Please kindly note that the expiration date of Proof of address document for different entities under PriorFX Brand may be different.

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You'll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it's best to put aside at least 3 minutes or so to complete the account opening process.

While you might be able to explore PriorFX's platform straight away, it's important to note that you won't be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with PriorFX you can visit the PriorFX trading platform here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from https://priorfx.com/ on January 15, 2021.

PriorFX review
Is PriorFX A Good Broker?

We spent over 3 months examining PriorFX in depth. Although we found some very useful aspects of the PriorFX platform that would be useful to some traders. Overall our feeling is that you would be better served with an alternative PriorFX broker.

  • PriorFX have a good track record of offering Forex.
  • PriorFX has a history of over 8 years.
  • PriorFX has a reasonable sized customer support of at least 10.
  • PriorFX are regulated by Cyprus Securities and Exchange Commission (CySEC). This means PriorFX fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes.
  • PriorFX have regulation from a Tier 1 reputable country.
  • PriorFX has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.
  • PriorFX have an international presence in multiple countries. This includes local PriorFX seminars and training.
  • PriorFX are able to hire people from various locations in the world who can better communicate in your local language.

PriorFX Risk Disclaimer

Your capital is at risk

PriorFX review
PriorFX not quite right?

If after reading this PriorFX review, PriorFX does not fulfill your needs check out these PriorFX Alternatives.

Click here to view the best PriorFX Alternatives

We have spent years researching the best alternatives to PriorFX. Click the links below to learn more.

If you feel some of the above PriorFX are not quiet what you are looking for or perhaps you would just like to see some alternatives. See our highly rated list of PriorFX alternatives below.

PriorFX review
Related PriorFX Vs Comparisons

We have covered allot in this PriorFX review, If you want to see how PriorFX compares side by side with other brokers check out our PriorFX Vs pages.

If you would like to see how PriorFX stands up against other brokers you can read some of our PriorFX comparisons below. We compare side by side some of our top rated PriorFX versus comparisons. Read our indepth PriorFX VS pages below.

PriorFX review
PRIORFX Frequently Asked Questions

Can I try PriorFX before I buy?

PriorFX offer a demo account so you can try the PriorFX platform before you put down a payment. Learn more here

What funding methods do PriorFX accept?

Please note that the list of payment methods below depend on the PriorFX Entity and the Clients Country of Residence.

PriorFX offer the following funding payment methods Credit cards, Bank Transfer, American Express, Neteller, WebMoney, UnionPay, QIWI, Debit cards, Payoneer, among other payment methods.
Learn more here

Your capital is at risk

Is PriorFX safe?

PriorFX are considered safe as they are regulated by and checked for conduct by the Cyprus Securities and Exchange Commission (CySEC). Any payments funded to PriorFX accounts by traders are held in a segregated bank account. For added security PriorFX use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

Is PriorFX trading good?

PriorFX is considered good and reputable to trade with PriorFX. PriorFX is used by over 10,000 active traders and PriorFX users. PriorFX offers Forex trading. Minimum deposit with PriorFX is 50.

Is PriorFX trading Legit?

PriorFX was founded in Cyprus in 2013. PriorFX has been facilitating trade on the financial markets for over 8 years. PriorFX offers clients Forex trading. All funds deposited to PriorFX are held in segregated tier 1 bank accounts for security. PriorFX is regulated by Cyprus Securities and Exchange Commission (CySEC) so can be considered legit.

Is PriorFX a good broker?

PriorFX is overseen by the top tier financial regulators Cyprus Securities and Exchange Commission (CySEC) so can be considered a good broker. PriorFX allows Forex trading.

Is PriorFX trustworthy broker?

PriorFX can be considered trustworthy. All money funded to PriorFX is placed into a segregated tier 1 bank account. this means your money in not held by PriorFX directly but a tier 1 bank. The broker has no direct access to your funds so cannot misappropriate your money. Also PriorFX is regulated by Cyprus Securities and Exchange Commission (CySEC).

What is the minimum deposit for PriorFX?

The minimum deposit to trade with PriorFX is 50.

How long do PriorFX withdrawals take?

Withdrawing money from PriorFX processing time varies but averages 2-5 days.

Is PriorFX regulated?

PriorFX is regulated by Cyprus Securities and Exchange Commission (CySEC).

Is PriorFX a market maker?

PriorFX is a market maker. Stocks, currency and other commodities and instruments will be purchased by PriorFX even if no buyer is lined up.

How can I start trading with PriorFX?

When opening a trading account with PriorFX, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on PriorFX trading platforms here.

Is my money safe with PriorFX?

PriorFX is regulated by Cyprus Securities and Exchange Commission (CySEC). One of the most important criteria for traders when choosing a broker like PriorFX is the regulatory body and regulatory status of the broker. Brokers who conduct business without regulation do so at their own discretion and pose a direct risk to the security of their clients money.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to PriorFX, this will be honored. If they violate any regulatory rules their regulated status can be stripped.

Is PriorFX a con?

PriorFX is regulated and well established having been in business for over 8 years. PriorFX is definitely not a con.

Can you make money with PriorFX?

Although traders have had great success with PriorFX. Trading on the financial markets with PriorFX is not a get rich scheme. If you educate yourself, practise with a demo account and carefully plan your trading your chance of success will greatly increase. Never trade with money you cannot afford to lose. Your capital is at risk.

Does PriorFX have fees?

PriorFX withdrawal fees varies on payment method. PriorFX doesn't charge inactivity fees. PriorFX does charge deposit fees.

When was PriorFX founded?

PriorFX was founded in 2013.

How many people use PriorFX?

PriorFX is used by over 10,000 registered PriorFX users.

What is PriorFX Headquarters country?

PriorFX has its head quarters office in Cyprus.

Does PriorFX offer negative balance protection?

PriorFX offers negative balance protection. With Negative balance protection means traders cannot lose more money than they have deposited.

Does PriorFX offer guaranteed stop loss?

PriorFX does not offer guaranteed stop loss. With guaranteed stop loss protection risk is managed. Traders are guarenteed to close your trade at your specified price. Stop Loss orders are guaranteed only during market hours and under normal trading conditions.

Does PriorFX allow scalping?

PriorFX offers scalping.

Does PriorFX allow hedging?

PriorFX offers hedging.

Does PriorFX offer CFD trading?

PriorFX does not offer CFD trading.

Does PriorFX offer STP?

PriorFX offers STP trading.

How many people use PriorFX?

PriorFX is used by over 10000 PriorFX users and traders.

Is PriorFX an ECN broker?

PriorFX does not offer ECN trading.

Does PriorFX offer a demo account?

PriorFX offers a demo account.

Does PriorFX offer an Islamic account?

PriorFX offers a Islamic accounts.

What are the funding methods for PriorFX?

Please note that funding methods available with PriorFX can be found in the PriorFX Members area and depend on the PriorFX client’s country of residence. Please check your specific available payment methods on the PriorFX website. PriorFX accept the following funding methods : Credit cards, Bank Transfer, American Express, Neteller, WebMoney, UnionPay, QIWI, Debit cards, Payoneer.

PriorFX review written by Andrew Blumer and Mark Hansen

We hope you found our review of the PriorFX brokerage firm useful.

This article was written by our financial editor Mark Hansen and Andrew Blumer.

Mark was previously of the Kiel Insitute and has worked with financial organisations across Europe, Australia, South East Asia, South Africa and the Middle East. Mark has over 15 years experience in financial analysis, forecasting, financial modeling idenifying new market opportunities in Stocks, CFD's, Forex and Commodities.

Andrew has a well-established career in fintech and came up with comparebrokers.co to make trading on financial markets more transparent and accessible.

Whether you want to trade Forex, Stocks, Commodities or Indices we will help you find the best online broker for you from 400+ brokers for clients based in the UK, Europe, Asia, South Africa and Australia.

PriorFX review written by Mark Hansen of Comparebrokers.co