CharterPrime Review

1. Is CharterPrime safe or a scam?
2. Trading Platform
3. Accounts
4. Spread
5. Leverage
6. Deposits and Withdrawals conditions with a minimum deposit and withdrawal fee
7. Conclusion

What is CharterPrime?

CharterProme is a global financial and Forex broker that was established back in 2012 with embraced philosophy to provide personalized trading conditions and create a trusted trading environment. Indeed, these strives are valuable for any type of investor so CharterPrime took it seriously and is a regulated broker by the New Zealand authority also registered financial provider in Australia since headquarters there.

Trading Instruments

The broker maintains global offices and constantly improving its already strong position among the market offering, which is also proved by the consistency of the service they provide as well reflects on its value offering. CharterPrime offers vast trading opportunities through the trading of CFDs, Forex instruments, Commodities, Precious Metals, Index CFDs all provided with low cost fees and unparalleled execution conditions. CharterPrime also uses the STP system that connects directly orders to liquidity partners broker cooperate with.

Also, over the year of its operation, CharterPrime gained several industry awards recognizing its excellent service and provided conditions, which is always a plus towards the broker’s reputation.

Is CharterPrime safe or a scam?

As for the legit status, CharterPrime mentions its regulation across several jurisdictions, while the main license its received from the New Zealand FSP. However, CharterPrime office is based in Australia, while holding only registration by the governing structure. Eventually, all Australian brokers should be regulated by the Australian Securities and Investments Commission (‘ASIC’), as a recognized world authority which regulated Forex and trading industry.

Yet, New Zealand registration also provides necessary safety obligations towards its licensors so there are numerous applied rules on how the broker is operating. First of all, regulation means a broker was carefully checked before its authorization, the firm does apply safety measures as well as carefully checked at every step it makes.

So there is a certain level of guarantees towards you money safety, segregation of the accounts as well as participation to the customer protection. Which is all in all with all the safety measures and legit status the most crucial factor to check while choosing a broker.

Trading Platforms

The next step in our CharterPrime Review is a software that you will use particularly to execute orders and analyze markets. Eventually, CharterPrime offers powerful and industry-recognized MetaTrader4 which proved its excellency and versatile functionality over the years and thousands of executions performed through its daily. MT4 is loved by the majority of the investors worldwide for its balanced conditions offering both user-friendly interface and availability of sophisticated tools.

MetaTrader4 is especially known for its strong analysis functions, also available in various versions suitable for PC, MAC and mobile devices. Together with its powerful technical performance, you may also successfully deploy automated strategies with the help of known EAs or robots that offer a great solution for trading.

There is no restriction on the use of EAs at CharterPrime, while you may choose already programed EAs from the marketplace and polish it to own perfection, or in case you are a professional to write down your personal code with numerous available features.

Accounts

As CharterPrime promises in its trading opportunity to offer flexibility for strategies and traders respectively, the broker does define three account types that may suit particular needs. Therefore, there is a Variable account with a basis of variable spread, ECN Account with raw spreads and commission charges of $8 per lot and a swap-free account.

Also, fund managers can manage multiple trading accounts with CharterPrime specified offering by the use of the percentage allocation methodology known as PAMM accounts or MAM accounts with block trades executions.

Costs

Since CharterPrime offers accounts with STP and ECN execution respectively, therefore featured variable spread will be defined by the used account type as well.

You may see below some of the spread examples while knowing the Variable account is based only on spread charges and the ECN account adds on commission per lot. Also note, a Swap-free account will define variable spread and also charges a commission of 40$ per lot charged every Wednesday.

As well as compare Blueberry fees to another popular broker Blueberry Markets for your better understanding of the conditions.

Also, always consider overnight fee as a cost also referred to as Rollover rate, an interest for holding positions open overnight and determined by each instrument, as you may also see in the sample above. Of course, unless you trade through the swap-free account as defined in specifications.

Leverage

One of the great features of Forex trading is, of course, available to leverage your positions, meaning a gain of greater exposure to the market with the possibility to make bigger gains. Yet, you should always learn how to use leverage smartly, as with its success potential risks increasing as well.

Obviously, CharterPrime as an Australia and New Zealand broker together with its obligations to local regulation still allows high leverage ratios up to 1:500 for Forex instruments. Recently, major authorities worldwide restricted the use of the leverage to much lower levels, so it is again another great opportunity from CharterPrime as a benefit for your strategy.

What Methods of Payment CharterPrime uses?

The number of payment methods to fund the trading accounts is truly diverse so you will definitely find a suitable solution for money transfers. So with CharterPrime you may use Visa/MasterCard, Skrill, Neteller, Local Gateway, Bank Wire Transfers along with UnionPay and Bitcoin or Tether cryptocurrencies payments.

minimum deposit

The minimum deposit amount requires only 100$ if you apply for a Standard account based on spread only.

withdrawal fee

Charges may always vary according to the bank or the payment provider you use, so you should always consult the entity for detail on the charges. Yet, CharterPrime does not charge fees for deposits or withdrawals from its side, for the majority of the payment methods which is definitely a plus for your easier payment processing.

There are, yet, some methods that will add on some percentage commission due to international policies, alike Tether block-chain wallets will add on 5% for both deposits and withdrawals.

Conclusion

Concluding CharterPrime we see the broker that mainstays on strong regulatory obligations provided by the New Zealand authority, as well as defined quite competitive trading conditions. What we really like at CharterPrime is a simple and powerful offering that is consistent with the important point for potential trading success.

These include powerful execution technology, industry proven software and a choice between the account types with some of the lowest spreads in the industry.

So all in all, CharterPrime worth consideration either you are beginning trader, professional or a fund manager seeking a professional partner.

And of course, we would be glad to know your personal opinion about CharterPrime, share your experience or refer to us for some additional information on the comment area below.