Prime-Coin Review – Choosing The Right Broker For You [Updated]

Prime-Coin

How do you decide if the e-trader you trade with currently is the right one for the job?

Step One: Understanding Your Individual Needs As A Client

What matters most while choosing a broker is where you lie on the investment learning curve and what your individual trading goals are.

Perhaps what matters most to you is learning resources or easy access to a client support team.

However, if you fall in the experienced investor category, you may wish to have access to advanced charting features, derivatives trading, mutual funds and commodities CFDs.

Step Two: Narrow Down Your Choices

Once you have decided your investment preferences, it is time to narrow down your choices of brokers.

Personally, this step is the hardest. With a variety of brokers flooding the e-trade sphere, its next to impossible to choose just the right one for yourself.

Introduction To Prime-Coin

One e-trader we recently came across is Prime-Coin. A global brokerage firm operating in the online financial sphere, Prime-Coin is a veteran in the finance world.

Key Specifics Related To Prime-Coin

SpecificsYes/No
A member of Securities Investor Protection Corporation (SIPC)?Tick
Covered by Federal Deposit Insurance Corporation (FDIC)?Tick
Deposit Protection in event of company failureTick
Customer SatisfactionTick
Two Factor AuthorizationTick
Selling Client data to third partiesClose

Prime-Coin Account Types

The great offering within Prime-Coin is that they offer multitude of user trading accounts. This aims to cater to the ever evolving needs of individual users who step foot on the e-trading market. Most come from middle income backgrounds and require an outlet to invest their savings. The tech revolution has granted access to e-trading markets to everyone regardless of geographical location or income source. 

The types of accounts offered by Prime-Coin are of the following categories:

  1. H3 Basic Account: This account intends to welcome onboard the beginner user who may have zero prior trading experience. An account with a bare minimum deposit requirement, this has just the right tools to get the beginner client started in the e-trading world.
  2. H3 Basic Plus Account: This account intends to cater to those traders who have slight trading experience online but are largely risk averse and don’t wish to risk all their savings in one go. It has a slightly higher minimum deposit requirement but provides the option of leverage. This makes it a safe bet for most clients as they gradually settle into e-trading.
  3. H3 Intermediate Account: This account is for relatively experienced traders who have learned to deal with the market. The provision of charts allow for accurate analysis and well informed trading journeys.
  4. H3 Advanced account: This is for the professionals who know what they’re doing. With options to leverage up to five times their deposit value, this account intends to allow users the most profitable trading experiences.

Commissions And Spreads

A varied commissions and spreads structure is in place depending on the type of account and the value of trading. A great feature is that Prime-Coin charges less spreads and commissions to those who are using the basic and basic plus account. This provides a great trading opportunity to beginners as even if they don’t manage to earn much profit, they get to retain maximum earnings for themselves.

This provides a generous uptake in comparison to most brokers in the market as often the opposite commission structure is in place.

On the whole, the commissions and spreads for intermediate and advanced accounts is also quite reasonable when the comparison ratio is made in relation to value of trade. Prime-Coin intends to provide maximum value while delivering quality trading capabilities.

What Platform Does Prime-Coin Employ?

As an online brokerage firm, Prime-Coin decided to employ their own software to ensure data protection and privacy. Most rivals employ third party software which puts client data at risk of hacking. 

The basic user platform is their web software. It is simple to navigate with minimal bugs.

The intermediate and advanced user platforms comes equipped with the mobile application package. This intends to provide excellence to clients who may have trading on the go needs. 

Overall, both platforms have easy usage and real time synchronization.

Starting Out With Prime-Coin

If you are curious about starting your trade journey or perhaps switching from another broker, we have charted out what you need to do.

  • One: set up an online account
  • Two: get verified when their client support team contacts you by providing a scanned copy of your photo identification
  • Three: fund your account and start trading immediately.

If the above has got you excited to trade with Prime-Coin, contact them at their website. Once their team gets back to you, feel free to discuss your individual needs in depth to set up the right account for you. Enjoy your e-trades!

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