Prior Capital

Company Information

Established in 2013, and in operation for 7 years Prior Capital have a head office in Cyprus. Specifically, they supply trading solutions and algorithmic systems for Forex, Stock Exchange, Futures, and Crypto. Prior Capital is regulated. This means Prior Capital is supervised by and is checked for conduct by the Cyprus Securities and Exchange Commission (CySEC) regulatory bodies. So, at least it is not a scum. However, we must add that Google regards the website as insecure one. Prior Capital is very specific in its policy of denying its service offerings to residents from the USA, Canada, Sudan, Syria, and North Korea. Apart from these jurisdictions, the broker does officially accept clients from all over the world, but there may be region-specific restrictions in countries that have a strong regulatory structure.

Markets

Prior Capital suggests to its customers over 46 different instruments to trade, including over 30 currency pairs. However, there are only three major asset classes.

Trading accounts

The broker offers three main types of account, namely Standard, Pro and VIP accounts. There is also an opportunity to open an Islamic account option for each account type, as paying an interest is forbidden according to Islam. As such, Islamic trading accounts do not allow the account owner to earn and to pay interests. These accounts are also often referred as swap-free accounts. Let’s compare feature of three accounts.

STANDART

• Spreads – from 1.5 pips
• Max leverage retail clients – 1:30
• Max leverage pro clients – 1:200
• Min lot size – 0.01 lots
• Minimum deposit – 1,000$

PRO

• Spreads – from 0.8 pips
• Max leverage retail clients – 1:30
• Max leverage pro clients – 1:200
• Min lot size – 0.01 lots
• Minimum deposit – 5,000$

VIP

• Spreads – from 0.8 pips
• Max leverage retail clients – 1:30
• Max leverage pro clients – 1:200
• Min lot size – 0.01 lots
• Minimum deposit – 50,000$

Open an account

With Prior Capital you can open a new account through an online application form. It is an easy and very quick process. All you need is to provide basic personal information about yourself and to indicate your trading experience. After the application is approved, traders need to submit a copy of their ID, and proof of residency documents.

Minimum deposit

You can open an account with Prior Capital with a different minimum deposit. Simply put, a Standard account requires $1,000, a Pro account requires – $5,000, and a VIP one – $50,000 accordingly. It is worth mentioning that the first deposit for a Standard account is rather high in comparison with other brokers. Some novices may find this tricky and risky.

Trading Platforms

Prior Capital offers the popular MT4 forex trading platform. If you are willing to find out more about the features of the platform, click here. For your information, the broker also offers mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you are on the move

Our verdict

To sum up, let’s highlight the following facts about this broker. Prior Capital is governed and supervised by reputable financial regulatory bodies. It also segregates its clients’ funds. It has a comparatively long trading experience – 7 years. It offers you to choose among three account types with different conditions. On the other hand, there are several disadvantages as well. It offers a limited range of trading instruments, as well as a limited range of assets. There is only one language available on the website. Besides, the website itself has some issues, as Google regards the site as an insecure one. The minimum deposit may be confusing for a beginner, as it requires $1,000. However, a professional trader may find this absolutely normal. So, we hope we helped you to make your final decision.