Charterprime Review 2019 | Is Charterprime a Scam or Legit Forex Broker?

Read our Charterprime review to find out if Charterprime is a scam or a reliable forex broker. Unbiased Forex brokers reviews combined with user comments.

Average broker rating

3.5/ 5

Rating breakdown

Protection & Regulations
60% Complete (danger)
3.0/5
Trading platforms
80% Complete (danger)
4.0/5
Tradable Products
100% Complete (danger)
5.0/5
Deposit and withdrawal
100% Complete (danger)
5.0/5
Trading Fees
20% Complete (danger)
1.0/5
Support
60% Complete (danger)
3.0/5
Charterprime
Charterprime Overview

Charterprime is a Forex and CFD broker working on an STP model, that is based in New Zealand and Sydney Australia. They are regulated by ASIC and FSP and offer trading across currencies, precious metals, commodities and CFD indices.

# Broker's Features CHARTERPRIME Availability
# Commissions
# Hedging
# PAMM
# Scalping
# Accepts US traders
# 24 hour trading
# Swaps
# Demo account
# Daily analysis
# Automated trading
# Mobile trading
# Trading by phone
# 1st deposit bonus
# Forex contests competitions
# Bonuses Promotions
# Interest charges on the balance
# Free education
# Expert advisors
# Partnership programs
# Trust management
# 24 hour support

The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at onlineforextrading.net team collected over 50 data points. For this review, we will review Charterprime.

Financial Trading and Investment Services: First of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, CFDs, cryptocurrencies or options. Charterprime offers Online Financial Trading and Investment Services Such as Currencies, Commodities, Indices, Stocks, Futures.

Tradable Products: Offers a modest selection of currency pairs and CFDs across 4 asset classes; currencies, commodities, indices and metals.

Broker Type: Many types of brokers can be found in the most dynamic market in the world. Charterprime is ECN, No dealing desk, STP.

Features: Leverage offered is as high as 1:500. Broker also offers money managers the ability to open multi accounts through MAM.

Minimum Deposit Requirement: To properly understand if a broker is suitable for a certain trader, we will then take a look at how much is required as a basic minimum to open an account. You need to consider how much money you can spare to start off a Forex brokerage. Charterprime recommended minimum capital is $100.

Is the Forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. Charterprime is regulated by ASIC, FSP. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.

Investor Protection & Regulations: Charterprime are registered with the New Zealand Financial Services Providers and Register and regulated by ASIC in Australia to offer a protective environment to traders. Charterprime keeps their funds segregated from clients funds. This is a multi award winning broker since 2016.

Languages Available: Next lets have a look at each broker's different Language options. Charterprime offers Arabic, Chinese, Croatian, Czech, Danish, English,.

Payment methods: Next lets have a look at each broker's payment options. Charterprime offers China UnionPay, Neteller, Skrill, Wire Transfer different payment methods for each account types.

Deposit and withdrawal: Have support for popular payment methods such as Wire transfer, credit cards and e-wallets such as Skrill and Neteller. Charterprime processes transactions within one working day. The broker does not charge for withdrawals.

Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, Charterprime makes MetaTrader 4 available to clients.

Web & Desktop Trading Platforms: Uses the popular and proven MetaTrader 4 platform as its main trading platform.
Mobile Trading Platforms: Free mobile MT4 apps are available on Google Playstore and Apple App Store. You can use these to monitor markets, trade and manage your account.

Other

Trader Education
Lack of trading education resources apart for FAQ and glossary.

Promotions
Lack of bonuses and promotional offers due to regulatory restrictions.

Support
There is limited support channels for communicating with the support staff. The broker claims they respond to all emails within 24 hours. Live chat on Skype (Charterprime Support) and Facebook (Charterprime) are available.

Recup
Unless you have prior online trading experience, Charterprime might not be able to cater for the trading needs of novices. None guidance on this broker’s trading platform as there are no educational materials provided.

Final Thoughts
From our observation, we noted that Charterprime is meant more for experienced traders. While there are limited assets to trade which may not appeal to more experienced traders, beginner traders will find themselves lost without any guidance on this broker’s trading platform as there are no educational materials provided.

Trading Experience
Broker’s services are geared more toward seasoned traders rather than more beginner traders.

People Also Asked

Is Charterprime regulated?
Yes, Charterprime is regulated by top-tier regulators, ASIC, FSP inclusive.
Where is Charterprime based?
Charterprime is based in Australia.
How does Charterprime make money?
Charterprime charges a spread between the bid price and ask price. In some instances it also charges a commission.
How do I deposit in Charterprime account?
With Charterprime you can deposit money via the following means; China UnionPay, Neteller, Skrill, Wire Transfer.
How do I withdrawal in Charterprime account?
Charterprime lets you request a withdrawal of funds from your account via the following means; China UnionPay, Neteller, Skrill, Wire Transfer.
What is the minimum deposit for Charterprime?
Charterprime has $100 minimum deposit.
What are the available account base currencies with Charterprime?
Charterprime trading accounts are offered in N/A. If your country's currency isn't included in the list, you will need to open an account with another currency base.
What is the max leverage in Charterprime?
Charterprime has a maximum leverage is 1:500 for professional traders.
How do I open an account with Charterprime?
Opening an account with Charterprime is a three-step process. First fill out the registration form, second is to send verification details to the verification department and lastly is to fund your account.
Does Charterprime use MetaTrader?
Charterprime platforms: Yes, Charterprime use MetaTrader as well as the following platforms: MetaTrader 4
What type of broker is Charterprime?
Charterprime appears to be a ECN, No dealing desk, STP broker which offers market access to a variety of traders.
Does Charterprime accept US clients?
No
Does Charterprime offers Islamic accounts ?
Yes
What financial instruments can I trade?
You can trade a wide variety of instruments with Charterprime: You can trade a wide variety of instruments with Charterprime: Currencies, Commodities, Indices, Stocks, Futures