PriorFX Review 2019

PriorFX Rated 3/5
PriorFX have a low rating. We recommend you look at one of their alternative brokers.
Plus500 matches your criteria. Visit Plus500 now here.

PriorFX Introduction

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

Often you have to visit and read many broker websites all of which have different uses of language. The wording can be very confusing. In our review of PriorFX we break down 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.

Benefits of trading with PriorFX

  • Regulated by: CySEC
  • Headquarters Country : Cyprus
  • Foundation year 2013
  • Min Deposit : 50
  • Used by over 10,000 traders
  • PriorFX is not available in the following countries : US
Open PriorFX's Website

Your capital is at risk

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

With this 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 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.


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 6 years PriorFX have a head office in Cyprus.

PriorFX is regulated. This means PriorFX are supervised by and is checked for conduct by the 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.

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.

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.

What we like about PriorFX

  • Used by over 10,000 traders
  • Established in 2013
  • Regulated by CySEC
  • Min. deposit from $50

What we don't like about PriorFX

PriorFX General Fees

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

PriorFX Commissions

  • PriorFX does charge commission on CFD shares.

What can you trade with PriorFX?

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 XTB and Plus500 below.

Your capital is at risk

FX / Currencies PriorFX XTB Plus500
Forex pairs offered 30 50 100
Major forex pairs Yes Yes Yes
Minor forex pairs Yes Yes Yes
Exotic forex pairs Yes Yes Yes
Cryptocurrencies No Yes Yes
Commodity CFDs PriorFX XTB Plus500
Commodities offered 5 21 17
Metals Yes Yes Yes
Energies No Yes Yes
Agricultural No Yes Yes
Indiced & Stock CFDs PriorFX XTB Plus500
Stocks offered 0 1696 1816
UK Shares No Yes Yes
US Shares No Yes Yes
German Shares Yes Yes Yes
Japanese Shares Yes Yes Yes
PriorFX
Instruments
XTB
Instruments
Plus500
Instruments

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 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
  • 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

What funding and withdrawl methods do PriorFX accept?

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

  • Credit cards
  • Bank Transfer
  • Payoneer
  • Neteller
  • American Express
  • UnionPay

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.

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.

As a nice bonus, 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 trader, accounts and 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.

Education resources at PriorFX

To trade effectively with PriorFX, it's important to get a have a good understanding of the XTB 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.

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 over three languages, live chat support

What you will need to open an account with PriorFX

As PriorFX is regulated by 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:

  • 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 10 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 their website 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 12th August 2018.

PriorFX not quite right?

Check out these 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.

Related PriorFX Comparisons

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 some indepth PriorFX VS pages below.

PRIORFX Frequently Asked Questions

Can I try PriorFX before I buy?

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

What funding methods do PriorFX accept?

PriorFX offer the following funding payment methods accept Credit cards, Bank Transfers, Payoneer, Neteller, American Express, Wire Transfer, among other payment methods.
Learn more here

Your capital is at risk

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 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.