According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- ASIC
- FMA
- 2012
Our Evaluation of Charterprime
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Charterprime is a broker with higher-than-average risk and the TU Overall Score of 4.42 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Charterprime clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable broker with better conditions, as, according to reviews, many clients of this broker are not satisfied with the company’s work.
Brief Look at Charterprime
Charterprime is a secure and trustworthy provider of financial services in the Forex, commodities, and index futures markets. Charterprime is an award-winning brokerage. Charterprime is widely known for its top-level services and innovative solutions offered to every customer. Charterprime conducts business in a number of key regions and regulatory areas, including the ASIC (AFSL #421210) and the New Zealand FSP (reg no. 348606). Therefore, here at Charterprime one can operate with confidence and be sure of the legitimacy of the financial services provided.
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Author, Financial Expert at Traders Union
Charterprime offers a variety of trading services including Forex, commodities, and CFDs on indices via the MT4 platform, supporting Variable, ECN, and Swap Free accounts. Traders can benefit from high leverage up to 1:500 and a competitive EUR/USD spread of 0.1 pips. The broker also facilitates transactions through multiple channels such as Bitcoin and wire transfers with a $100 minimum deposit, all while being regulated by ASIC.
However, Charterprime has certain drawbacks, including above-average Forex trading fees and withdrawal charges. The asset selection is limited, with no options for copy trading or managed accounts. Given these aspects, Charterprime may be more suitable for experienced traders familiar with these constraints, rather than those prioritizing diverse asset offerings or lower costs.
Charterprime Trading Conditions
| 💻 Trading platform: | MT4(Deskop/Mobile) |
|---|---|
| 📊 Accounts: | Variable Account, ECN Account, Swap Free Account |
| 💰 Account currency: | USD |
| 💵 Deposit / Withdrawal: | Bitcoin, China UnionPay, Wire transfer, Skrill, Neteller, Local Gateway |
| 🚀 Minimum deposit: | 100 USD |
| ⚖️ Leverage: | 1:500 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0.01 lots |
| 💱 EUR/USD spread: | 0,1 pips |
| 🔧 Instruments: | Forex, Commodities, Precious Metals, Index CFDs |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Mobile Platforms |
| ➕ Affiliate program: | Yes |
| 📋 Order execution: | Market execution |
| ⭐ Trading features: | No |
| 🎁 Contests and bonuses: | No |
Charterprime Key Parameters Evaluation
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Regulation and safety
Charterprime has a safety score of 4.7/10, which corresponds to a Low security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Is regulated
- Track record over 13 years
- Not tier-1 regulated
- No negative balance protection
Charterprime Regulators and Investor Protection
| Abbreviation | Full Name | Country of regulation | Investor Protection Fund | Regulation Level |
|---|---|---|---|---|
 SVG FSA |
Financial Services Authority of St. Vincent and the Grenadines | St. Vincent and the Grenadines | No specific fund | Tier-3 |
Charterprime Security Factors
| Foundation date | 2012 |
| Negative balance protection | No |
| Verification (KYC) | Yes |
Commissions and fees
The trading and non-trading commissions of broker Charterprime have been analyzed and rated as Medium with a fees score of 7/10. Additionally, these commissions were compared with those of the top two competitors, Eightcap and XM Group, to provide the most comprehensive information.
- Tight EUR/USD market spread
- No inactivity fee
- No deposit fee
- Above-average Forex trading fees
- Withdrawal fee applies
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of Charterprime with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
Standard Account Spread
For Standard accounts, Charterprime’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.
Charterprime Standard spreads
| Charterprime | Eightcap | XM Group | |
| EUR/USD min, pips | 0,3 | 0,4 | 0,7 |
| EUR/USD max, pips | 0,5 | 1,5 | 1,2 |
| GPB/USD min, pips | 0,3 | 0,8 | 0,6 |
| GPB/USD max, pips | 0,7 | 1,5 | 1,2 |
RAW/ECN Account Commission And Spread
The spread on ECN/RAW accounts is market-based and fluctuates, with average values given during active hours. It may vary during volatility spikes. A commission per lot is also charged.
Charterprime RAW/ECN spreads
| Charterprime | Eightcap | XM Group | |
| Commission ($ per lot) | 4 | 3,5 | 3,5 |
| EUR/USD avg spread | 0,1 | 0,1 | 0,2 |
| GBP/USD avg spread | 0,2 | 0,3 | 0,2 |
Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with Charterprime. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
Charterprime Non-Trading Fees
| Charterprime | Eightcap | XM Group | |
| Deposit fee, % | 0 | 0 | 0 |
| Withdrawal fee, % | 0-2 | 0 | 0 |
| Withdrawal fee, USD | 0-40 | 0 | 0 |
| Inactivity fee ($, per month) | 0 | 0 | 10 |
Account types
Charterprime offers accounts for both experienced and novice traders with various execution and commission calculation models. Each client can have up to 5 accounts. The base currencies for the accounts are USD, EUR, and AUD.
Account types:
A unique account type is the Demo account, which allows traders to practice in a simulated environment without risking real funds. Market quotes and trading conditions on Demo accounts are identical to those on Real accounts.
Deposit and withdrawal
Charterprime received a Low score for the efficiency and convenience of its deposit and withdrawal processes.
Charterprime offers limited payment options and accessibility, which may impact its competitiveness.
- BTC available as a base account currency
- Bank wire transfers available
- Minimum deposit below industry average
- USDT (Tether) supported
- Withdrawal fee applies
- Wise not supported
- Limited deposit and withdrawal flexibility, leading to higher costs
What are Charterprime deposit and withdrawal options?
Charterprime offers a limited selection of deposit and withdrawal methods, including Bank Wire, Skrill, Neteller, BTC, USDT. This limitation may restrict flexibility for users, making Charterprime less competitive for those seeking diverse payment options.
Charterprime Deposit and Withdrawal Methods vs Competitors
| Charterprime | Eightcap | XM Group | |
| Bank Wire | Yes | Yes | Yes |
| Bank card | No | Yes | Yes |
| PayPal | No | Yes | No |
| Wise | No | No | No |
| BTC | Yes | Yes | Yes |
What are Charterprime base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs for clients worldwide. Charterprime supports the following base account currencies:
What are Charterprime's minimum deposit and withdrawal amounts?
The minimum deposit on Charterprime is $100, while the minimum withdrawal amount is $30. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact Charterprime’s support team.
Markets and tradable assets
Charterprime offers a limited selection of trading assets compared to the market average. The platform supports 55 assets in total, including 45 Forex pairs.
- 45 supported currency pairs
- Indices trading
- Limited asset selection
- Futures not available
Charterprime Supported markets vs top competitors
We have compared the range of assets and markets supported by Charterprime with its competitors, making it easier for you to find the perfect fit.
| Charterprime | Eightcap | XM Group | |
| Currency pairs | 45 | 40 | 57 |
| Total tradable assets | 55 | 800 | 1400 |
| Stocks | No | Yes | Yes |
| Commodity futures | Yes | Yes | Yes |
| Crypto | No | Yes | No |
| Stock indices | Yes | Yes | Yes |
| Options | No | No | No |
Investment options
We also explored the trading assets and products Charterprime offers for beginner traders and investors who prefer not to engage in active trading.
| Charterprime | Eightcap | XM Group | |
| Bonds | No | No | No |
| ETFs | No | No | No |
| Copy trading | No | No | Yes |
| PAMM investing | No | No | No |
| Managed accounts | No | No | No |
Contacts
| Foundation date | 2012 |
|---|---|
| Registration address | Suite 305, Griffith Corporate Centre P.O. Box 1510, Beachmont Kingstown St. Vincent and the Grenadines |
| Regulation |
ASIC, FMA
Licence number: 421210, 348606 |
| Official site | charterprime.com |
| Contacts |
+61 2 90567412
|
Comparison of Charterprime with other Brokers
| Charterprime | Bybit | Eightcap | XM Group | Markets4you | AMarkets | |
| Trading platform |
MT4, Mobile MT4 | MetaTrader5 | MT4, MT5, TradingView | MT4, MT5, MobileTrading, XM App | MT4, MobileTrading, MT5 | MT4, MT5, AMarkets App |
| Min deposit | $100 | No | $100 | $5 | No | $100 |
| Leverage |
From 1:1 to 1:500 |
From 1:1 to 1:500 |
From 1:30 to 1:500 |
From 1:1 to 1:30 |
From 1:10 to 1:4000 |
From 1:1 to 1:3000 |
| Trust management | No | No | No | No | No | No |
| Accrual of % on the balance | No | No | No | No | No | No |
| Spread | From 0 points | From 0 points | From 0 points | From 0.8 points | From 0.1 points | From 0 points |
| Level of margin call / stop out |
No | No / 50% | 80% / 50% | 100% / 50% | 100% / 20% | 50% / 20% |
| Order Execution | Market Execution | Market Execution | Market Execution | Market Execution | Market Execution, Instant Execution | Market Execution, Instant Execution |
| No deposit bonus | No | No | No | No | No | No |
| Cent accounts | No | No | No | No | Yes | No |
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