Comprehensive Review of PU Prime

Can you trust a company based offshore in the Seychelles? Or is it better not to take the risk? Let’s try to figure this out in our PU Prime review and examine all the broker’s trading conditions.

Highlights

Key Trading Features

PU Prime offers 4 types of accounts. Each is designed for different categories of traders, depending on their level of experience, trading capital, and preferences. Let’s break them down in detail.

The Standard account is suitable for most traders as it offers balanced conditions. The minimum deposit is $50, and spreads start at 1.3 pips. This is a versatile account.

The Prime account is aimed at experienced traders and those who trade frequently. The minimum deposit here is higher — $1,000. However, the conditions compensate for this threshold: spreads start at 0.0 pips, minimizing trading costs. The commission per trade is $3.5 per side per lot, which is standard for premium accounts.

The ECN account starts at $10,000, offering access to Tier-1 liquidity, ensuring high execution speed and minimal delays. However, we doubt that this offshore broker genuinely has access to ECN liquidity. It’s likely just a marketing gimmick to attract traders with this supposed “advantage”.

Finally, there’s the Cent account, specifically designed for beginners to test strategies and gain experience in real market conditions. Oh, and there’s also a demo account available.

Overall, it’s a standard set of trading account options. Nothing seems suspicious except for the excessively high leverage. PU Prime offers leverage of up to 1:1000, which poses significant risks for traders. Financial regulators limit leverage to 1:30 for a reason: to protect clients from high-risk scenarios. Does this company lack proper licenses? We’ll address that later.

Overview of Available Trading Instruments

The company offers trading on a typical range of markets for a CFD broker: forex, cryptocurrencies, metals, indices, stocks, and even ETFs. Nothing out of the ordinary here. However, it’s important to remember that these are CFDs, not spot trading or futures.

Trading Platform Analysis

PU Prime has developed its own trading platform and also provides a popular alternative: MetaTrader 4 and 5. There’s no need to go into detail about these platforms, as there are plenty of guides and tutorials online about how to use them and their features.

We’ll briefly touch on the proprietary software. The company has developed mobile applications for Android and iOS. The Android app has over 500,000 downloads. The PU Prime platform supports all the essential features: auto-trading, indicators, technical analysis, and more.

Additional Services

PU Prime also offers various additional features to its clients:

1. Educational Materials. Training courses, webinars, and even video lessons.
2. Social Trading. Copying the trades of other traders through the proprietary terminal.
3. Analytical Tool. ‌An economic calendar, fresh market analysis, news updates, and more.

All these features are standard for any serious broker. In this regard, PU Prime hasn’t done anything surprising or innovative. The company lacks any unique advantage in this area.

Fee Structure

PU Prime applies different commission structures depending on the account type. On the Standard account, there are no trading commissions, but spreads start at 1.3 pips. On the Prime and ECN accounts, spreads begin at 0.0, but a commission is charged: $3.5 per side for Prime and $1 per side for ECN. These are standard terms.

Deposits are generally free, but withdrawals may incur fees charged by payment systems. Additionally, traders should be aware of possible extra fees, such as inactivity charges or currency conversion costs. It’s crucial to clarify all these details before starting to trade to avoid unexpected expenses.

Legitimacy of PU Prime

So far, the company might seem appealing and potentially profitable. However, it’s essential not to rush to conclusions. In this review, our task is to examine its licenses, legal address, and other details to determine whether such a firm can be trusted.

PU Prime is officially registered in the Seychelles and holds licenses from the SFSA and The Financial Commission. Let’s take a closer look at these claims.

When a broker is registered offshore, it should immediately raise concerns. PU Prime operates under an SFSA license, which may sound impressive at first glance. However, in reality, offshore regulators exert minimal oversight. Their main role is to create an illusion of legitimacy. Seychelles is not comparable to regulators like the FCA in the UK or ASIC in Australia, which actively monitor client funds and have the authority to penalize brokers for rule violations. If there’s a withdrawal issue or the broker vanishes with your funds, the chances of recovering your money are slim to none.

Are the licenses genuine? Yes, the company isn’t lying about its regulatory status, as another one Scam broker from Zinzenova review. This can be verified in the official registries of the stated regulators. For example, The Financial Commission does include PU Prime in its list of members.

However, The Financial Commission doesn’t inspire much confidence either. It’s not a government body but a private organization that often prioritizes protecting the broker’s reputation over the rights of traders. While it does offer a compensation fund, the maximum payout is only €20,000 — a mere drop in the ocean for serious traders. If your six-figure sum is “frozen” by the broker, you’re unlikely to recover much, if anything. Essentially, it’s more of a marketing tactic than an actual protection.

The risks are clear. You’re dealing with a broker that can easily avoid accountability. In the case of a dispute, you won’t have a true regulatory authority to defend your rights. Funds held in offshore accounts are always a gamble at your own risk.

Company History

What about the company’s longevity? That’s also an important factor. Based on the domain registration, the platform was launched in 2019. However, other sources claim it has been operating since 2016. Let’s call it an average lifespan for a brokerage firm — not too short, but not particularly long either.

Conclusion

We cannot recommend this brokerage company because the risks are too significant. Yes, the broker has been operating for a few years and holds official registrations and licenses, but these are from offshore and private entities, not robust regulators. PU Prime may be an honest forex dealer today, but it could turn into a scam tomorrow.

Weighing the Pros and Cons

Common Questions