1. What is CharterPrime?
  2. Awards
  3. Is CharterPrime safe or a scam?
  4. Leverage
  5. Accounts
  6. Fees
  7. Instruments
  8. Deposits and Withdrawals
  9. Trading Platform
  10. Customer Support
  11. Education
  12. 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.

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.

ProsCons
Founded in New ZealandNo 24/7 support
Global industry awardsPoor education
Tight Low Spreads
Standard and ECN trading
Regulated by FSP

CharterPrime website

10 Points Summary
HeadquartersNew Zealand
Regulation and LicenseFSP
PlatformsMT4
InstrumentsCFDs, Forex instruments, Currency Pairs, Commodities, Precious Metals, Index CFDs
CostsSpread only or ECN account with commission per lot
Demo AccountAvailable
Minimum deposit100$
Base currenciesUSD, AUD, NZD
EducationLimited
Customer Support24/5

Awards

Industry awards something good to consider since the broker is checked carefully for its service and proposal it contains. So, 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.

CharterPrime awards

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 also based in Australia, while holding only registration by the governing structure necessary to operate brokerage in Australia legally. 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.

ProsCons
Licensed and Regulated by FSPNot listed in Stock Exchange
Segregated fundsNo Negative Balance Protection
Registered by ASIC

How traders protected?

New Zealand registration also provides necessary safety obligations towards its licensors so there are numerous applied rules on how the a broker is operating. First of all, regulation means 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.

CharterPrime license

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 high risk 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 and major currency pairs available for retail traders

However, recently major and respected authorities worldwide restricted the use of the leverage to much lower levels due to high risk, so it is again another great opportunity from CharterPrime as a benefit for your strategy.

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.

ProsCons
Standard and ECN AccountsNone
Demo Account
Swap-Free Account
MAM

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.

CharterPrime accounts

How to open Account

In order to open an Account at CharterPrime you should follow to sign-in page and process guided steps as following.

  1. Register your account with personal information along with email, phone, full name
  2. Confirm your account through the link in the email with your username and password
  3. Proceed with proof of identity and address upload. Due to regulatory requirements.
  4. Once the account is verified you can make the first deposit and start trading

Fees

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

ProsCons
Options between standard fees based on spread and ECN account with a commissionForex fees on standard account a bit high
ECN trading
Low Commodity fees

Forex Fees

You may see below some of the spread examples while knowing that the Variable account is based only on spread charges and ECN account will trader with raw spreads and adds on 8$ 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 good to compare brokers CharterPrime fees to another popular broker Blueberry Markets for your better understanding of the conditions.

Comparison between CharterPrime fees and similar brokers
Asset/ PairCharterPrime FeesFXTM FeesAvaTrade Fees
EUR USD2 pip1.5 pip1.3 pip
Crude Oil WTI293
Gold3.4940
Inactivity feeYesYesYes
Deposit feeNoNoNo
Fee rankingLowHighAverage

Interest rates

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 swap-free account as defined in specifications.

CharterPrime spread

Trading Instruments

CharterPrime offers vast trading opportunities through the trading of CFDs, Forex instruments, Currency Pairs, 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.

CharterPrime instruments

What Methods of Payment CharterPrime uses?

ProsCons
No Minimum depositNone
Good selection of deposit options
Free of charge deposit and withdrawals

Deposit Options

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
  • UnionPay
  • Bitcoin or Tether cryptocurrencies payments

CharterPrime minimum deposit

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

CharterPrime funding methods

Withdrawals

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.

How long does it take to withdraw money from CharterPrimes?

The broker mentions that withdrawals are seamless and will take 1-2 business days, also according

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.

ProsCons
Customer friendly designNo proprietary platform
Popular MT4 platform
Good range of tools
Clear look

Web Platform

MT4 is loved by the majority of the investors worldwide for its balanced conditions offering both user-friendly interface and availability of sophisticated tools.

Desktop platform

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.

Mobile Platform

Yes, there is a mobile application which is also great with customization features and charting to be selected. There are all basic trading needs that are accessible via phone so you can analyze markets, use research tools, place orders, manage positions and get access to your account management as well.

CharterPrime platform
Customer Support

Customer Support ChartePrime establish with good quality service and a purpose to provide traders with relative answers and quality answers. You can contact the team within working hours through Live Chat, email or contact form, also we remain quite satisfied with overall Customer Support broker provides, which is definitely good.

ProsCons
International languages supportedNo 24/7 service
Live Chat and emails

Education

In terms of education as we found in out CharterPrime review, eventually, the broker provides rather supporting materials than the proposer Forex education. So if you’re very beginner you better look for additional education courses, videos and Webinars that are very essential to start.

At CharterPrime you will find basic research tools included and inbuilt into the platform and that is all that you can count for. However, there are Economic Calendar, Market Insights and News provided so it is a good ongoing trading information which is available.

ProsCons
Economic CalendarNo Education courses, Videos, Webinars
Market Insights
Market News
Research tools available at platform

CharterPrime Market insights

Conclusion

Concluding CharterPrime Review 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.

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