Price Markets Review
Price Markets is a UK based regulated brokerage firm that has a diverse range of trading services to cater for both retail and institutional client’s needs. They provide a flexible choice of trading solutions including the MetaTrader 4 platform along with FIX API connectivity and PAMM accounts for money managers and investors. Whilst the broker has competitive trading conditions, we found the choice of instruments to be lacking compared to other online brokers who have a broader choice of assets.
Price Markets Review, Pros & Cons
- FCA regulated broker
- Free VPS for Active Traders
- Spreads from 0 pips
- PAMM for Money Managers & investors
- Financial Services Compensation Scheme
- Prime trading solutions for institutional clients
- Screen & API trading
- Segregated client accounts
- Diverse selection of powerful & intuitive trading platforms
- +150 Liquidity Providers
- No USA clients
- Account inactivity fee
- Limited leverage
- Limited range of trading instruments
- Minimum $500 deposit
- No individual stocks
- No cryptocurrencies
In this detailed Price Markets 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.
Price Markets Overview
Price Markets is an award-winning provider of CFD trading and forex prime brokerage services for the professional trading community. Clients can trade a range of instruments across various asset classes including forex, indices, metals, energies and CFDs. Spreads start from just 0 pips on FX currencies whilst flexible leverage of up to 1:100 is available.
Price Markets has liquidity and technology solutions for institutions including low latency FIX API and algorithmic trading solutions. Launched in 2013, they are based in London and regulated by the FCA. The broker states that they never take risk or positions against client orders as a matched principal broker, thus there should be no conflicts of interest.
Price Markets use an Electronic Communications Network (ECN) execution model which connects to numerous venues and liquidity providers in order to achieve the best possible prices for their clients. They implement a proprietary best execution algorithm that sources the most favourable pricing and execution across the brokers custom-built global financial cloud.
As a prime brokerage, Price Markets provide clearing, execution, hardware, software and networking infrastructure to a variety of Price Takers and Price Makers, including some of the world’s leading Broker/Dealers, Hedge Funds and Proprietary Traders. They are a matched principal broker and thus will be the counter-party on all trade transactions via MT4 ECN.
Active traders can gain access to a free VPS whilst there are PAMM accounts for investors and money managers who can manage multiple accounts across forex and CFDs from one master account.
Price Markets Regulation
Based in London, United Kingdom, Price Markets is authorised and regulated by the Financial Conduct Authority (FCA) under firm reference number: 725804. The FCA is one the most widely respected financial regulators that can help to give investors the peace of mind that they are using a reputable brokerage firm who must comply with strict rules and regulations put in place to help protect investors and the integrity of the financial markets as a whole.
In the unlikely event that Price Markets (UK) is no longer able to meet its financial obligations, you can submit a claim to the FSCS (Financial Services Compensation Scheme) in UK. This scheme protects up to £50,000 per eligible person. All client funds are held in segregated client bank accounts with UK banks.
Price Markets Countries
Price Markets can accept clients from all over the globe apart from the USA and some other countries where there are restrictions in place that prevent them from doing so. Some Price Markets broker features and products mentioned within this Price Markets review may not be available to traders from specific countries due to legal restrictions.
Price Markets Platforms
Price Markets have a very good choice of trading platforms and solutions to suit all different trading styles and requirements. There are user-friendly platforms for the average retail trader such as MT4 whilst there are also more complex solutions such as FIX API for institutional clients who require a specific trading environment to flourish in. All platforms run on low-latency proprietary cloud network in London and New York.
- MT4 ECN Terminal and Mobile
- WebTrader (Windows®, Mac®, Linux®)
- MobileTrader (Android™ and iOS)
- MT4 BRIDGE
- price / API (C#)
- price / FIX API 4.4
- Currenex® GUI and API (FIX API and binary)
- HotSpot GUI and API (FIX API and binary)
- FastMatch® API (FIX API and binary)
Price Markets Trading Tools
Price Markets supply retail and institutional clients with sophisticated and powerful trading tools that are capable of delivering an efficient trading environment that will suit various different trading strategies, including some of the most demanding.
Price Markets Education
The brokers website has a range of educational resources that cover different trading topics and specifically how to use the trading platforms provided. There are trading guides, video tutorials and instruction manuals.
Price Markets Instruments
Price Markets have a choice of trading instruments across a variety of asset classes. All markets will be traded as a CFD contract (Contract For Difference). The trading brokers review team found the selection of instruments sparse when compared to many other online brokers, some of whom offer thousands of tradeable instrument.
- Forex ECN: As low as 0 pip spread on EUR/USD and USD/JPY.
- Commodities: Trade Gold, Silver, Oil, Copper and more.
- Indices: US, UK, European and Asia Pacific Stock Indices.
- Bonds: Liquid Bond trading.
Price Markets Accounts & Fees
Price Markets have account types with a minimum deposit from $500 although the minimum initial deposit is $50,000 for a PRIME account. There is leverage of up to 1:100 and a minimum position size of 1,000 units or 0.01 lot. Transaction costs on any trade may include, the commission, the spread, swap charge or credit on each rollover based on the LIBOR/LIBID interest rates of the two traded currencies with a mark-up/mark-down from 1.5%. A commission table is available on the brokers website.
The Personal Trading Account is for Individual Traders and Money Managers trading on behalf of their clients. Such clients are generally classified as Retail. Inactive accounts which have not had any activity for a month will incur a $50 monthly inactivity fee.
Demo accounts are supplied for free if you would like to try out the different platforms, trading conditions and to practice your trading strategies. This can be a good way to familiarise yourself with online trading using virtual funds so that you can prepare yourself for real live trading.
As broker fees can vary and change, there may be additional fees that are not listed in this Price Markets review. It is imperative to ensure that you check and understand all of the latest information before you open a Price Markets broker account for online trading.
Price Markets Support
Price Markets head office is located in the City of London, United Kingdom. Clients get 24/5 support and can reach the support team via live chat, telephone or email. You can connect with them through Google, Facebook, Twitter and LinkedIn. There is also a contact form on the website if you would like to send them a message that way.
Price Markets Deposit & Withdrawal
Clients can manage their money online 24/7 with instant funding through a range of methods for deposits and withdrawals supporting over 12 payment gateways. They only support Bank Wires for PRIME accounts. Please note that some methods may only be available to specific countries and not all are available for both deposit and withdrawal.
Some fees may be charged when using certain payment methods. They don’t charge any fees for deposits and withdrawals above 10,000 USD, GBP or EUR equivalent. Withdrawal requests are processed within the same day or next if outside working hours. The withdrawal time can vary depending on the payment provider and method. Bank transfers may take a few business days to clear whilst some methods can be instant.
Some payment systems may have transaction limits, restrictions, and requirements which are indicated on their respective websites. You may need to verify your account to remove limits on particular methods in some countries. Price Markets strictly does not accept third-party payments. All funds deposited into your trading account must be under the same name as your Price Markets trading account.
Accounts can be opened USD, EUR, GBP, JPY, CHF. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.
Price Markets Account Opening
Accounts are subject to status, but to apply for an account, you will need to complete the brokers online application form. They estimate this takes no more than 5 minutes on average. The broker will then conduct an electronic check to confirm your identity and address. If they are unable to electronically confirm your identity and address, they will require documentation in order to activate your account. If this is the case or if they require any additional information, you will be sent an email with details of what they require. Once your account has been confirmed, you can deposit funds and commence trading online with any of the provided trading platforms.
Price Markets Summary
Price Markets is a regulated and established brokerage firm that can cater to the basic needs of the average retail trade whilst also having the innovative technology and know how to provide advanced services to other brokers, money managers, and financial institutions. The minimum deposit required is $500 which emphasises the type of clientele this broker is geared towards although they do provide demo accounts for those who would like to try out the different trading platforms and conditions. There is a flexible choice of platforms available including the ever popular MetaTrader 4. The broker supports FIX API connectivity and PAMM accounts. They also have competitive spreads and commission fees but they could expand on the amount of trading instruments offered.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. Professional clients can lose more than they deposit. CFD trading involves significant risk.