PrimeOT Forex Broker Review 2021
PrimeOT is a trading company unlike any other. This is quite clear by the fact that they offer a proprietary platform to their clients, which is cool new innovation in the trading world that not many brands are yet daring to embrace. A proprietary platform also offers new solutions when it comes to the safety and security of all market participants. PrimeOT is focused on providing trading solutions and innovative approaches to the market for all clients who wish to diversify their portfolio and stack up some new knowledge and skills in trading. The first thing we noticed about this broker company is that they offer no less than 6 account types. This shows their efforts at including as many different types of clients as possible into their family of successful traders. PrimeOT is definitely taking their mission seriously, and that is to become the number one trading spot.
When we went to research the company’s origin and details, we found out that it is owned by a private company called Cortofin Ltd. This did not say much, except for the fact that the company is based in St. Vincent and Grenadines. For starters, this part of the world is mainly filled with off-shore brokerages, who do not operate under any type of licencing.
Now, this is a bit discouraging, considering that most of the broker company that does not own a licence tend to be shady. However, PrimeOT is dedicated to breaking this stigma. Though they still do not own a proper licence, they are making sure to include other forms of safety, such as Anti-money laundering policies and other documents that ensure safety and security of all their clients. Still, there are some clients who are sceptical about these kinds of companies. This is why we created this PrimeOT review in the first place – to show you that not all broker companies that do not operate under a licence are not to be trusted.
Tradeable Assets at PrimeOT
The selection of trading assets at PrimeOT is quite encouraging for both beginners and trading pros who have been present on the trading market for quite a while. For starters, the choice of CFDs is particularly attractive to us. Considering that CFDs are not always a popular choice, we were excited to see how PrimeOT will spin this fact around. And we were not disappointed!
Namely, PrimeOT team emphasizes the good sides of trading contracts for differences, and how they benefit your portfolio. First, we should note that CFDs do not carry the same amount of risk as other tradeable assets, since you are not actually owning the security in question. Rather, you are just speculating on its price, which takes a lot of the pressure of off you and your trading strategy.
Next, the digital assets are also a prime spot at the PrimeOT trading platform, to our comfort. The cryptocurrencies which you can find here vary from top-leading names such as Bitcoin to much less popular names who are just building their reputation. Either way, digital currencies are the next big thing, considering that they are quite unpredictable. But still, aren’t all the other assets like this, as well?
PrimeOT Trading Platform Features
Considering that this is an unregulated brand, this also means that there are certain restrictions on the trading platform. Namely, these kinds of companies do not have access to the MT4 or MT5 trading solutions, which is a shame since it takes away a lot of the perks from the users. Then, companies like this are forced to find other solutions in order to give an equally enjoyable experience to their clients. In the case of PrimeOT, their platform is quite close to achieving this goal.
Namely, the trading platform, even though it is web-based, it is also easily adjustable to different devices and operating systems. It also loads instantly, which is crucial in today’s fast-paced trading society. The platform does not have any clutter, which is also important. Overall, the company seems like an open book, and the trading platform is no different. The thing goes as following – on the left, you will find over 200 tradeable assets divided into groups such as stocks, Forex, cryptos and other. Then on the right, there is a selection of different charts, graphs and analytic tools which help you understand the market performance of each asset in real-time. To conclude, there is also a useful tab above this information that shows details such as leverage, margin and other key notes attached to each tradable asset.
Account Types Offered at PrimeOT
The PrimeOT team has conducted thorough research of the entire market, especially when it comes to clients and their types of personalities. As a result, they have created 6 different account types in hopes of satisfying their different tendencies and wishes when it comes to their trading futures.
The first one is the Self Manage account, which offers all the standard services such as full platform access and daily market reviews in your inbox which help you keep up with the latest about the market. Then, there is also the Basic account, which requires a $5.000 minimum deposit. This account type takes you a step further with perks such as extra bonuses on some transactions. The Gold account is dedicated precisely to improving your knowledge and skills, which is why it focusses on the additional educational material.
The Platinum account brings you closer to your account manager, who can help guide you on your trading journey. The Diamond account contributes to your safety even more by offering perks such as financial planning and risk management. Lastly, the Libra account is invitation only, and the possibilities with it are not fully explained, so we will leave that to your imagination.
Withdrawal and Deposit Methods at PrimeOT
The primary payment option for your deposit and withdrawal needs at PrimeOT are the credit and debit cards. Their processing times are a bit different depending on what is your request. Namely, all deposits are processed instantly, while the withdrawals may take a few days to go through.
Also, besides the credit cards, there is also the option of using a bank wire transfer. This option is even slower, which is why it is not always a fan favourite. Lastly, the Bitcoin e-wallet processes all your requests instantly, which is why it is the most used on the entire platform. It is also quite safe since it is based on blockchain technology which is the leader in online banking security.
Does PrimeOT Offer Any Educational Material?
The educational material is quite rich on this platform, which is great news. First, you can enjoy the standard info about the asset index on different securities that are available for trading on the platform. Then, there is also the Glossary, which explains all the latest industry terms to help you find your way around. However, we were pleasantly surprised about other lessons and educational pages we found here, such as the How to Trade page.
Here, you can find the step-by-step guide on all things related to trading all your favourite assets. Also, besides this, there are also tips and tools that can help you determine what kind of a trader you are, and what do you want to achieve with your trading.
Is the PrimeOT Support Team Helpful?
The customer support agents at PrimeOT can be reached through many communications channel, which is quite important. Many trading companies tend to disregard this section entirely, which is a huge loss for their respective clients. Luckily, PrimeOT is different, with more ways to connect than you have ever seen before.
The first and most efficient way to do that is the live chat, which is always available. All you need to do is type in your question and the agent will get back to you within seconds. Then, the telephone option works great as well, while the e-mail addresses take a bit longer to connect you with the available agent. However, the most important thing to note here is that the agents are more than helpful and also knowledgeable at what they do, which is the whole point, isn’t it?
Shall I Trade with PrimeOT?
We can definitely safely recommend this broker company to all the traders who wish to dive into the trading pool without fear of being discouraged too soon. The company is focused on keeping you updated with the innovations in the world of trading, as well as helping you achieve trading success. They do so by implementing many useful tools and benefits – from the wide asset selection to different banking methods and documents that prevent online abuse of your information and funds. Though this company was established just a little over a year ago, it seems that they are already setting trends for the rest of the trading industry to follow.