PRCBroker Review 2024
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
- $500
- MT4
- MT5
- CySEC
- VFSC
- 2022
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
- $500
- MT4
- MT5
- CySEC
- VFSC
- 2022
Our Evaluation of PRCBroker
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
PRCBroker is a broker with higher-than-average risk and the TU Overall Score of 3.48 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by PRCBroker 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.
PRCBroker’s mission is to furnish favorable conditions for both active traders and market participants with an inclination toward passive income in the financial markets. However, this brokerage is better suited for experienced traders and professionals who can meet the stringent initial deposit requirements, as it may not be the ideal choice for beginners.
Brief Look at PRCBroker
PRCBroker boasts a wealth of experience exceeding two decades within the financial markets, with a primary focus on the Forex market. Their services are accessible to traders across a variety of regions, with limited restrictions on countries. Thanks to an extensive network of offices, traders hailing from the EU, Asia, Oceania, Africa, and South America can engage in trading activities through PRCBroker. This brokerage provides access to Forex, indices, commodities, and precious metals markets via the MetaTrader platform, eliminating the necessity to route trades through global stock exchanges.
- Diverse selection of account types including Standard, ECN, swap free, MAM, and demo;
- Licensed by the Cyprus CySEC commission;
- Member ICF compensation fund, which covers up to 20,000 euros per client;
- MetaTrader 4/5 trading platforms;
- 24/7 technical support services in English;
- Passive income solutions;
- No withdrawal or deposit fees.
- A relatively high minimum deposit requirement across all account types, with $500 for Standard and a substantial $50,000 for ECN. Additionally, cent accounts are not available;
- Comparatively higher spreads when juxtaposed with offerings from its competitors;
- Lack of ongoing bonus programs, partner initiatives for retail clients, educational resources, and professional analysis.
TU Expert Advice
Financial expert and analyst at Traders Union
PRCBroker boasts extensive experience in providing brokerage services, collaborating with leading banks worldwide, and ensuring a comfortable trading environment for its clients in financial markets. This broker's leverage is limited to 1:100 in compliance with regulatory requirements. Trader funds are kept separate from PRCBroker's capital and are not used for settling with other clients or covering this company's expenses.
This broker offers both standard and professional (ECN) accounts, as well as demo modes for MT4 and MT5. An array of investment solutions is available, allowing traders to generate passive income in financial markets. For online trading, PRCBroker provides both desktop platforms and mobile applications, along with access to a dedicated VPS server.
The choice of payment methods is somewhat limited, but clients can deposit euros, USD, British pounds, Swiss francs, or Japanese yen (which will be converted into the account currency at the exchange rate set by the partner bank). Cryptocurrencies like Bitcoin and USDT (TRC20) can also be credited. PRCBroker requires clients to undergo the KYC procedure, meaning they must provide truthful information about themselves and their capital with documentary evidence.
PRCBroker Summary
| 💻 Trading platform: | MT4, MT5 |
|---|---|
| 📊 Accounts: | Demo MT4, Demo MT5, Standard, ECN, Kings Mam (proprietary MAM), swap free |
| 💰 Account currency: | USD |
| 💵 Replenishment / Withdrawal: | Bank transfers, credit/debit cards, cryptocurrency transactions, Moneybookers, Liberty Reserve, local payment systems |
| 🚀 Minimum deposit: | $500 |
| ⚖️ Leverage: | Up to 1:100 |
| 💼 PAMM-accounts: | Yes |
| 📈️ Min Order: | 0,01 |
| 💱 Spread: |
Standard ─ from 1 pips ECN ─ from 0.1 pips |
| 🔧 Instruments: | Currency pairs, CFDs on indices, metals, oil |
| 💹 Margin Call / Stop Out: | Yes/70% |
| 🏛 Liquidity provider: | Institutional liquidity from leading global banks |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | Market and Instant executions |
| ⭐ Trading features: | Scalping and hedging allowed |
| 🎁 Contests and bonuses: | No |
PRCBroker clients have the opportunity to make profits from currency pairs and CFD price movements. To enhance efficiency and trading capacity, this broker provides trading leverage ranging from 1:50 to 1:100, depending on the account type. Trading can commence with a minimum of $500 for a Standard account or $50,000 for an ECN account. Upon the trader's request, this company can convert any trading account into an Islamic account and subsequently back to a swap-free account without specifying the reason for canceling the swap-free option.
PRCBroker Key Parameters Evaluation
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Trading Account Opening
PRCBroker’s user account is only accessible to its active clients. The process of creating an account on this company's website is as follows:
To open the registration form, click on "Customer Service," and then select "Open Trading Account." Links for opening a standard account will appear on the screen. To obtain a registration form for an ECN or MAM account, you need to contact technical support.
In the user account opening form, provide personal information, and enter your email address and phone number. Also, enter your passport/ID card number and taxpayer identification number. Then, you should upload screenshots of your bank card and the aforementioned documents. Additionally, it is mandatory to attach a photo of a utility bill (not older than 6 months) or a bank statement (not older than 3 months). Specify the source of funds, such as a payment receipt, property rental agreement, tax declaration, etc.
In this broker's user account, the following functions are available:
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Displays of transaction history;
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Deposit funds into the trading account and withdrawing funds;
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Select and download a trading platform;
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Contact this broker's customer support;
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Access to the "Trading Products" section with educational and analytical materials.
Regulation and safety
All branches of PRCBroker are licensed and operate in compliance with local regulatory standards. The Cyprus branch, Performance Ronnaru Company Ltd, is overseen by the Cyprus Securities Regulatory Commission (CySEC) under license number 253/14. The division Performance Ronnaru Capital Ltd, which is registered under number 4788, is regulated by the Vanuatu Financial Services Commission (VFSC). Additionally, PRCBroker has local representatives in the British Virgin Islands and Saint Vincent and the Grenadines.
PRCBroker is a member of the Investor Compensation Fund (ICF). In the event that this company is unable to fulfill its financial obligations or faces bankruptcy, the funds of each retail client will be reimbursed from the ICF. The maximum compensation amount is 20,000 euros per trader.
Advantages
- Client funds are deposited into accounts with regulated banks, including HSBC Bank, Barclays, and Deutsche Bank
- This company's assets and client funds are kept separately
- Retail traders are protected by a compensation scheme
Disadvantages
- This company may hold the funds of different clients in a single (consolidated) bank account
- Client funds may be held with an intermediary broker, bank, settlement agent, clearinghouse, or over-the-counter counterparty outside of Vanuatu or the EU
- When opening a trading account, documentation confirming the source of funds must be provided
Commissions and fees
| Account type | Spread (minimum value) | Withdrawal commission |
|---|---|---|
| Standard | From $10 | A payment system fee may apply |
| ECN | From $1 | A payment system fee may apply |
Swap fees or rollover charges are not applied on Islamic or swap-free accounts; while on regular accounts, charges are incurred with each overnight rollover. Without comparing fees, it's impossible to identify a broker in the market with the best trading conditions. For this reason, Traders Union specialists have compared PRCBroker's fees with the fees of RoboForex and Pocket Option companies.
| Broker | Average commission | Level |
|---|---|---|
|
$5.5 | |
|
$1 | |
|
$8.5 |
Account types
PRCBroker provides traders with the flexibility to select their preferred trading model. Traders can access both STP and ECN accounts. Cent accounts are not offered by this broker. To initiate trading on the chosen account type, it's necessary to deposit the specified minimum amount. It's important to uphold a sufficient level of free margin for leveraged transactions.
Accounts types:
You can open a virtual demo account on both the MT4 and MT5 platforms.
PRCBroker is a regulated STP and ECN broker that provides comfortable trading conditions for experienced traders worldwide, ensuring the safety of their funds.
Deposit and Withdrawal
This company processes withdrawals upon receiving a signed form from the client via mail or upon the client's submission of the corresponding request in the user account;
Funds can be withdrawn to a card, bank account, or electronic wallet. The available withdrawal methods are indicated in the client's user account;
PRCBroker does not charge a fee for withdrawals but warns that fees may apply from payment systems. Clients are responsible for covering these fees, and compensation for expenses is not available;
Withdrawals are processed within five business days if the client has undergone verification, and at the time of the payment, the free margin in their account must exceed the amount specified in the request;
Clients can withdraw funds in any currency. In the case of a request in a currency different from the account currency, conversion is performed at PRCBroker's internal exchange rate (determined by the partner bank).
Investment Options
PRCBroker's MetaTrader platforms allow for passive income generation through trade copying and expert advisors (EAs). Additionally, this broker offers its own investment solutions, which will be discussed shortly. Partner rewards are not available to regular retail clients; only Introducing Brokers (IBs) can earn income by referring new clients.
Kings Mam Account | PRCBroker's proprietary MAM account
PRCBroker offers its own MAM (Multi-Account Manager) service, enabling both experienced traders and newcomers to earn from online asset trading. To become a manager within its MAM system and transmit their trades for a specific fee, one needs to open a Kings Mam account. To become an investor, you must select a manager and connect to his account. The Kings Mam service supports the following trade volume distribution methods:
Based on the net asset value coefficient;
According to the available margin ratio;
Using a fixed lot size.
If a trader does not wish to invest money in trading other people's accounts, connect advisors, or use specialized algorithms for algorithmic trading, they can earn by keeping funds in their account wallet. This company pays interest at the applicable rate plus 4% per annum for each day the funds remain in the balance and are not used for trading.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Partnership program of PRCBroker
Partners registered as Introducing Brokers (IBs) gain access to various payout plans. They can receive TU rebates from distribution, trading commissions from referred clients, or a percentage of their deposits. Additionally, IBs can earn a portion of PRCBroker's profits from the trades of new traders who opened accounts through their referral link.
Using a convenient CRM system, Introducing Brokers can track the trading and payment activities of their referees. They have access to information regarding deposit and withdrawal amounts, the volume and number of closed positions, and more.
Customer support
Online chat is available 24 hours a day on weekdays. Phone support in English operates from 9:00 to 17:00 (GMT+11).
Advantages
- Online chat operators use translators, so you can ask questions in many language
- Support on the website is available around the clock from Monday to Friday
Disadvantages
- The website lacks a feedback form
- On weekends, you can only ask questions via email
This broker provides service to traders through the following methods:
Phone (the number is provided in the contact section);
Online chat on the website;
Email.
Chinese language support is also available on Skype and the instant messaging app QQ.
Contacts
| Foundation date | 2022 |
|---|---|
| Registration address | Performance Ronnaru Company Ltd (Cyprus), 7B, Andrea Papakosta Street, Palouriotissa, 1037 Nicosia, Cyprus. |
| Regulation | CySEC, VFSC |
| Official site | https://www.prcmarkets.com/ |
| Contacts |
+357-22-250328
|
Education
Educational materials such as videos, articles, and slides are not available on the PRCBroker website. In the "Trading Products" section, there is introductory information about Forex and the CFD market.
Acquiring practical trading skills is a crucial step in preparing for a career in professional trading. To serve this purpose, a demo account is made available.
Comparison of PRCBroker with other Brokers
| PRCBroker | RoboForex | Exness | TeleTrade | Octa | IC Markets | |
| Trading platform |
MT4, MT5 | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 | MT4, MT5 | MetaTrader4, MetaTrader5, OctaTrader | MT4, cTrader, MT5, TradingView |
| Min deposit | $500 | $10 | $10 | $10 | $25 | $200 |
| Leverage |
From 1:1 to 1:100 |
From 1:1 to 1:2000 |
From 1:1 to 1:2000 |
From 1:1 to 1:500 |
From 1:1 to 1:1000 |
From 1:1 to 1:500 |
| Trust management | No | No | No | No | No | No |
| Accrual of % on the balance | No | No | No | No | No | No |
| Spread | From 1 point | From 0 points | From 1 point | From 0.8 points | From 0.6 points | From 0 points |
| Level of margin call / stop out |
No / 70% | 60% / 40% | 60% / No | 70% / 20% | 25% / 15% | 100% / 50% |
| Execution of orders | Market Execution, Instant Execution | Market Execution, Instant Execution | Market Execution, Instant Execution | Market Execution, Instant Execution | Market Execution | Market Execution |
| No deposit bonus | No | No | No | No | No | No |
| Cent accounts | No | Yes | No | No | No | No |
Detailed review of PRCBroker
The PRCBroker Group comprises four companies that extend brokerage services to both retail and institutional clients across the globe. All these entities strictly adhere to the laws and regulations of their respective jurisdictions, ensuring the security of client funds. PRCBroker facilitates direct access to institutional-grade liquidity from renowned global banks. Their professional support team stands ready to provide round-the-clock, multilingual online assistance to clients.
PRCBroker by the numbers:
4 offices globally;
Over 20 years of experience as a Forex broker;
Over 70 trading instruments.
PRCBroker is a firm for trading with leverage using one's own funds
It offers the opportunity to trade 51 currency pairs, 13 stock indices, precious metals, and two types of oil (XTI and UKO). However, there is a limitation for ECN accounts because index trading is not available on them. Clients must adhere to margin requirements. If this does not happen, this company has the right to partially or completely close open positions. The required margin level is calculated every Friday at 21:00 according to the trading server time or before a market holiday. The margin level for capital of $250,000-$500,000 is 50%, and less than $250,000 is 100%; however, more than $500,000 has no requirements. Margin Call and Stop Out are set at 70%.
PRCBroker provides classic MetaTrader 4 and MetaTrader 5 platforms for trading. Via these platforms, you can open both user and demo accounts, connect EAs for algorithmic trading, and use built-in technical analysis tools. PRCBroker offers versions for both mobile and desktop devices.
Useful functions of PRCBroker:
Economic calendar. This broker's website broadcasts data from the MQL5 website. Important economic events are published in real time and can be sorted by importance, period, country, or currency;
API Interface. Access to it is provided for partners who need to connect to the MT4 server for professional activities;
VPS. Virtual server services are primarily designed for traders engaged in automated trading. VPS also ensures the fastest processing of trades.
Advantages:
This broker allows many strategies, including scalping, hedging, trade automation, and algorithmic trading;
The minimum trading volume is 0.01, allowing participants to enter the global Forex market even without significant funds;
PRCBroker offers trading in stock indices, which are safer than individual stocks, as a financial instrument;
Company clients have access to various methods for depositing and withdrawing funds, including fiat currencies and cryptocurrencies;
Spreads on ECN start from 0.1 pips, allowing advanced traders to trade with minimal commissions;
PRCBroker opens access to margin trading in the Forex and CFD markets, provides comprehensive support for clients and partners, and delivers the best quotes from global providers.
User Satisfaction i