Milton Prime Review
Milton Prime is a trading broker that offers a large range of financial instruments across different asset classes for trading online via intuitive and user-friendly trading platforms for multiple devices. Clients can trade Forex and CFD instruments via an individual trading account whilst the broker also offers copy trading services for those who prefer a more hands-off approach. They deliver a convenient and innovative trading environment to help ensure a seamless trading experience, with something for everyone to trade.
Pros / Cons
- Regulated trading broker
- User-friendly yet powerful trading platforms
- Hundreds of trading instruments across different asset classes
- Low spreads & rapid execution speeds
- No commission fees
- Copy trading signals
- Money Managers (PAMM/MAM)
- Vast range of educational resources
- Quick KYC & Onboarding
- Multilingual client support
- $300 minimum deposit
- Could add more funding options
- No USA clients
In this detailed Milton Prime review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
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Milton Prime Overview
Founded in 2015, Milton Prime is a regulated brokerage firm that provides Forex & CFD trading to a global client base. They have easy to use yet powerful trading platforms for desktop, web and mobile devices. Whatever your trading experience level, the broker welcomes clients from all different backgrounds.
They have very competitive trading conditions when compared to other industry leading brokers, this includes low spreads, zero commission fees, quick execution speeds, around the clock support, variable leverage, educational resources and more.
Milton Prime have hundreds of trading instruments to choose from, this includes Forex, Stocks, Indices, Commodities, Cryptocurrencies and CFDs. In addition to individual trading accounts, the broker also offers an investor account where you can copy trades from fellow traders.
Milton Prime Regulation
Milton Prime is a brand owned and operated by Holiway Global Ltd with registered office at CT House, Office 9D, Providence, Mahé, Seychelles, a Securities Dealing Firm fully regulated by the Seychelles Financial Services Authority (FSA) with license number SD040.
Licensed and regulated by the Seychelles Financial Services Authority (FSA), Milton Prime is committed to creating a secure and fair-trading environment.
MFSC HOLDINGS LIMITED, a company incorporated under the laws of Cyprus with incorporation number ΗΕ 406018 and registered address at 30 Tempon, Engomi, 2408, Nicosia, Cyprus, is acting as the Payment Agent of Holiway Global Ltd.
Milton Prime Countries
Whilst the broker welcomes clients from all over the globe, some Milton Prime broker features and products mentioned within this Milton Prime review may not be available to traders from specific countries due to legal restrictions.
Milton Prime Trading Platforms
Milton Prime offer traders the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. These are industry standard platforms that are used by millions of Forex and CFD traders all over the globe. Both platforms are well known for being user-friendly making them a popular choice for beginner traders whilst they also have plenty of advanced trading tools to satisfy the needs of the more experienced traders. They are fully customisable so that you can organise the platform layout and charts to suit your own needs and goals.
The MetaTrader platforms are free to download and available for desktop, web and mobile devices. The MetaTrader web platform runs directly in the web browser so that you do not need to download or install any additional software. The MetaTrader mobile app can be useful for those who need to access their account, analyse the markets, place and manage traders, all whilst on the go.
As of late 2020, Milton Prime is also one of the few brokers that offers native macOS MetaTrader support and Managed Account Trading via PAMM/MAM.
The MetaTrader 4 (MT4) platform is perhaps the more widely used of the MetaTrader platforms. It was developed by MetaQuotes many years ago and has since gone on to become the industry standard platform when it comes to forex trading.
Some of the key features of the Milton Prime MT4 platform include:
- Fully customisable user-friendly interface
- Create and save chart templates
- Analyse markets with technical indicators & drawing tools
- Get real time price quotes for hundreds of symbols
- Place different order types including instant, pending & limit orders
- View different chart types in multiple timeframes
- Set price alert notifications via SMS, email & platform pop-ups
- Create custom indicators, scripts & EAs
- Automated trading with expert advisors (EAs)
- MQL market place to get more trading tools & signals
- Large online community to share ideas with
- Available for desktop, web & mobile
- Free to use
The MetaTrader 5 platform is the follow up to the MT4 platform, with some additional features and functionalities. It has everything that MT4 does but can do more with additional timeframes, extended order types, depth of market pricing (DOM), multi-currency EA strategy tester, implemented economic calendar, extra technical indicators and more.
Milton Prime Trading Tools
Whilst the MetaTrader platforms should have more than enough tools for the average retail trader, Milton Prime do offer some additional tools to assist with daily trading activities, including trading calculators.
There are useful trading calculators for quick and easy calculation of fees, rewards and more.
Milton Prime Education
Milton Prime show that they care about traders making informed trading decisions as they offer them an abundance of educational materials to help them improve their trading skills and knowledge. Most of the educational content is provided free of charge without an account, but opening a Milton Prime account gains you access to some of the premium educational materials.
Milton Prime have a team of professional traders that deliver in-depth market analysis which can be used to help inspire potential trading opportunities. Each of the market insights include a detailed look at the price action along with technical/fundamental analysis and an annotated chart for a visual overview.
The Milton Prime education section has a plethora of trader’s educational resources ranging from trading guides to video tutorials. You will find them covering everything from the very basics of trading online with a trading platform to market analysis, trading strategies, money management and more.
The trading webinars provided by Milton Prime can be useful for improving your market knowledge at a time that works best for you.
Milton Prime Trading Instruments
You will find hundreds of trading instruments available to trade online with Milton Prime. They have a vast number of CFDs across different asset classes. The financial markets that clients can trade includes Forex, Indices, Stocks, Commodities and Cryptocurrencies.
A contract for differences (CFD) is an arrangement made in financial derivatives trading where the differences in the settlement between the open and closing trade prices are cash-settled. There is no delivery of physical goods or securities with CFDs. You can go short or long on hundreds of contracts for difference (CFD) instruments with the broker.
Leverage varies depending on the instrument being traded and is as follows:
- 1:5 for stock CFDs
- 1:500 for forex
- 1:20 for stock index CFDs
Milton Prime Trading Accounts & Fees
There are 3 main account types offered by Milton Prime, the Trader Account, Investor Account and Demo account.
The Milton Prime trade account is for those who want to trade Forex & CFD instruments by themselves. It provides access to all platforms and available instruments. Traders are executed with No Dealing Desk (NDD) intervention, so there shouldn’t be any conflict of interest between broker and trader. The minimum account deposit required is $300 whereas there is leverage of up to 1:500 available, depending on your location and asset class being traded.
If you are looking for a hands-off approach to trading online, the Milton Prime investor account gives you access to signals providers whose traders you can choose to copy and therefore create your own trading portfolio. Any profits are shared with the broker and you can change signals at any time. Of course, keep in mind that there can be no guarantee on the results of signal copying.
Milton Prime provide free demo accounts which let you trade online using virtual funds. This can be a good way to familiarise yourself with the brokers trading platforms and practice your trading strategies risk free.
As broker fees can vary and change, there may be additional fees that are not listed in this Milton Prime review. It is imperative to ensure that you check and understand all of the latest information before you open a Milton Prime broker account for online trading.
Milton Prime Customer Service
You can contact the Milton Prime customer support team view phone, live chat, email and various social media channels. They are available during normal working hours and multi-lingual, speaking Japanese, English, Russian, Spanish & Chinese.
Milton Prime Deposit & Withdrawal
Milton Prime accept credit/debit card deposit and withdrawals. The time taken for funds to reach the account can depend on the method used. They have a minimum deposit requirement of $300. Crypto payment options are also available as is Neteller and Skrill.
Milton Prime Account Opening
It is a quick and easy process to open a trading account with Milton Prime. Just simply click on the Sign-Up button that is located throughout the brokers website. You will need to provide some personal information and answer a questionnaire to ensure that you are suitable for their trading products and services.
To fully verify your account, you will need to submit a proof of identification such as a passport or drivers licenses and proof of address such as a utility bill or bank statement to more than 3 months old.
It is imperative to ensure that when you are going through a broker application, you clearly read all of the brokers terms, conditions and policies. Only proceed if you fully understand and agree to them.
Milton Prime Conclusion
Putting it all together, Milton Prime has a very competitive offering when it comes to trading Forex & CFDs online. There are sophisticated and easy to use trading platforms with hundreds of trading instruments to choose from across different financial markets. There is something for everyone to trade, regardless of their experience level.
In addition to industry leading platforms, Milton Prime also have tight spreads, no commission fees and rapid trade execution speeds. There are plenty of educational materials provided and customer support is on hand to assist as and when needed.
Trading complex instruments can come with a high risk. You should consider whether you understand how investments and trading work and whether you can afford to take the high risk of losing all of your money.