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The WikiFX Score of this broker is reduced because of too many complaints!

PRCBroker

Cyprus|5-10 years|
Straight Through Processing(STP)|MT4 Full License|Regional Brokers|United Kingdom European Authorized Representative (EEA) Revoked|High potential risk|Offshore Regulated|

https://www.prc-brokers.com/en/

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

Full License

38
Server Name
PRC-Demo MT4
Server Location Japan

Contact

+357 22-250328
support@prcbroker.com
https://www.prc-brokers.com/en/
7B, Andrea Papakosta Street, Palouriotissa, 1037 Nicosia. Cyprus
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

English

+357 22-250328

English

+678 513 1393

Broker Information

More

Company Name

Performance Ronnaru Company Ltd

Company Abbreviation

PRCBroker

Platform registered country and region

Cyprus

Company website

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

WikiFX Risk Alerts 3
Previous Detection : 2024-04-25
  • The number of the complaints received by WikiFX have reached 6 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
  • United KingdomFCA (license number: 731259) The regulatory status is abnormal, the official regulatory status is Revoked. Please be aware of the risk!

WikiFX Verification

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Pyramid scheme complaint
Expose
Unable to Withdraw

Withdrawal does not arrive for a long time

I paid two sums of money on 5.1 and 5.5 but it never arrived, and then I contacted their customer service on 5.10! As a result, the customer service said that he was unable to handle it, and then asked me to find their official email address. On 5.12, I sent an email to their official mailbox, and they replied to me, saying that I had violated the regulations, and I will be required to cooperate with their related investigations later! However, it is now May 22, and there has been no follow-up!

2023-05-22 17:23
Others

The XAUSUD (dollar-denominated gold) system of the PRC foreign exchange platform calculates abnormally and leads to a liquidation, applying for compensation

Hello, during the XAUUSD variety transaction on March 7 (trading system time: 2023.03.07 15:52:06), due to the calculation error of the PRC platform system, the relevant orders of my positions were forced to close, resulting in losses. Follow-up contact The customer service of the platform, their customer service said that the reason is that the order of the position has touched the forced liquidation line, and there is no problem with the forced liquidation. (As shown in the picture) The background data imported from the system shows that during the forced liquidation, the forced liquidation price of gold (buy, 0.55 lots) is $1841.24, and the floating profit is $9970.40. The gold I hold (sell, 0.05×4, a total of 0.20 lots is shorted) ) The forced liquidation price is $1841.46, and the floating loss is $908.05. (Looking at the book profit is nearly 10 times more than the loss). The trading spread is about $0.22. This is not the case of spread slippage and crazy expansion of spreads, the trading system will actually become negative and force liquidation. Dear rights protection platform and traders please review whether it is reasonable, thank you! Now apply for help to claim compensation from the PRC platform, compensate for the relevant loss amount or reply to the relevant orders that were liquidated during this period, thank you!

2023-03-22 12:26

    PRCBroker · Company Summary

    PRCBroker Review Summary
    Years of Establishment 5-10 years
    Registered Country/Region Cyprus
    Regulation CYSEC, VFSC (Offshore)
    Market Instruments Forex, precious metals (gold & silver), crude oil, stocks
    Account Types Standard, ECN, Kings Mam
    Maximum Leverage 1:100
    Spread N/A
    Trading Platforms MT4/5
    Minimum Deposit $500
    Customer Support 24/5 online chat, phone: +357-9623-6568 (Cyprus), +678-513-1393 (Vanuatu), Email: support@prcbroker.com

    What is PRCBroker?

    PRCBroker is a regulated broker that offers a range of financial trading instruments and services to its clients. It provides two types of accounts for trading - Standard and ECN, with different minimum deposit requirements, leverage options, and cater to different types of traders.

    The broker also offers trading opportunities in several markets including Forex, precious metals, crude oil, and stocks. PRCBroker provides access to the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, and a new MAM account management system called KingsMam for fund managers.

    However, specific details about their spreads, commissions, and deposits and withdrawals are not disclosed publicly but can be accessed once you have a PRCBroker account. They offer 24/5 customer support service through multiple channels.

    PRCBroker's home page

    Pros & Cons

    Pros Cons
    • Regulated • Lack of Info on Trading Conditions
    • Diverse Market Instruments • High Minimum Deposit
    • Multiple Account Types • Geographic Restrictions
    • MT4/5 Trading Platforms
    • 24/5 Multi-channel Aupport

    Pros:

    Regulated: PRCBroker is regulated by the Cyprus Securities and Exchange Commission (CYSEC) and offshore regulated by the Vanuatu Financial Services Commission (VFSC), providing an added layer of security for traders.

    Diverse Market Instruments: PRCBroker provides a wide range of market instruments for trading, including Forex, precious metals, crude oil, and stocks, catering to diverse trading needs.

    Multiple Account Types: It offers different types of accounts (Standard, ECN, and Kings Mam), targeting various types of traders from beginners to professionals.

    Trading Platforms: PRCBroker uses MetaTrader 4 and MetaTrader 5 trading platforms that are known for their advanced functionalities and user-friendly interfaces.

    Customer Support: It provides 24/5 customer support via online chat, phone, and email.

    Cons:

    Account Requirement for Information: Specific information related to spreads, commissions, and procedures for deposits and withdrawals is not disclosed publicly and requires a PRCBroker account for access.

    High Minimum Deposit: The minimum deposit for the ECN account is quite high ($50,000), which may not be affordable for all traders.

    Lack of Transparency: Not openly sharing information about fees, deposits, and withdrawals could indicate a lack of transparency from PRCBroker.

    Geographic Restrictions: PRCBroker does not provide services to residents of certain countries such as the USA, Canada, North Korea, etc.

    Is PRCBroker Safe or Scam?

    PRCBroker is a regulated broker, holding valid licenses from prominent financial regulatory bodies. It operates under the supervision of the Cyprus Securities and Exchange Commission (CYSEC) with a Straight Through Processing (STP) license, bearing the number 253/14. This ensures it operates transparently within the regulatory framework of Cyprus, thereby protecting the interests of its traders.

    regulated by CYSEC

    PRCBroker also holds an offshore retail forex license numbered 14788 from the Vanuatu Financial Services Commission (VFSC). This license regulates its operations for traders who are out of Cyprus.

    offshore regulated by VFSC

    Regulated brokers are highly recommended as they are bound by the standards and regulations imposed by these financial authorities, providing an added layer of security for traders.

    Market Instruments

    PRCBroker delivers a diverse range of financial instruments for trading, offering its clients a broad spectrum of opportunities to diversify their trading portfolio. Their offerings span across several markets, including Forex, enabling traders to speculate on the movements of major, minor, and exotic currency pairs.

    forex

    The broker also presents opportunities for trading in precious metals such as gold and silver, allowing traders to capitalize on the volatility of these markets.

    precious metals

    In addition, PRCBroker provides access to the energy market, allowing clients to trade in crude oil products.

    crude oil

    On top of this, the broker also grants the ability to buy or sell shares of various well-established companies, offering considerable exposure to the global stocks market.

    stock index
    stock index

    This wide array of financial instruments underlines PRCBroker's commitment to cater to different trading preferences and styles.

    Account Types

    PRCBroker provides its traders with Standard and ECN accounts. The Standard account, optimal for novices or intermediate traders, necessitates a minimum deposit of 500 USD.

    Alternatively, for seasoned or professional traders, the ECN account is available, although it asks for a significantly higher minimum deposit of 50,000 USD.

    Standard vs ECN

    Additionally, PRC has introduced a fresh account management system known as KingsMam, specifically designed for fund managers. This MAM (Multi Account Manager) system facilitates fund managers to manage multiple accounts efficiently and simultaneously, providing a solution for investors to leverage the expertise of professional traders. It essentially streamlines the process and handles the administrative complexities of multi-account management.

    Kings Mam account

    How to Open a PRCBroker Account?

    Opening an account with PRCBroker usually involves the following steps. However, the exact steps might vary, and you should always refer to the official website for the most accurate information.

    Step 1: Visit the PRCBroker official website and click on the “Login” button.

    click on the Login button

    Step 2: You'll be directed to the account registration page where you'll need to provide personal details. This usually includes your name, nationality, contact information, etc.

    fill in required info

    Step 3: After you've filled out all the necessary fields, you'll have to agree to their terms and conditions and privacy policy. Before agreeing, make sure to read and understand all the policy details, especially those regarding risks and fees.

    Step 4: When your registration form is completed and submitted, the broker typically sends a confirmation email. You should check your email inbox, click the link or button provided in the confirmation email to verify your registration.

    Step 5: After verifying your account, you might be asked to complete a Know Your Client (KYC) process, which involves providing identification documents to verify your identity and address. This usually includes a copy of your passport or other ID and a recent utility bill or bank statement.

    Step 6: Once your account is verified, you can deposit funds into your account. The deposit process varies depending on the broker, so make sure to follow their instructions.

    Step 7: After depositing funds, your account should be ready for trading.

    Remember, it's important to only invest funds you can afford to lose, as trading involves high risk. Also, practice on a demo account, if available, to familiarize yourself with the trading platform before live trading.

    Leverage

    PRCBroker provides different leverage options for its two account types. For the Standard account, traders can avail a leverage of up to 1:100. This means for every dollar of capital they have, they can control up to 100 dollars worth of securities.

    In contrast, the ECN account offers a lower leverage of up to 1:50. Therefore, for every dollar in their account, traders can manage securities worth up to 50 dollars. It's important for traders to understand that while leverage can amplify profits, it can also magnify losses, so it should be used responsibly.

    Spreads & Commissions

    PRCBroker does not disclose specific information about their spreads and commissions on their public platform. Typically, this information helps traders to understand the cost of trading with a broker.

    In this case, I would recommend reaching out directly to PRCBroker via their official website or customer service. They should be able to provide more details about their fee structure including spreads and any applicable commissions.

    Always remember to understand all the fees associated with any broker before starting to trade. It's important to ensure the broker is transparent about their cost structure and that it aligns with your trading goals and strategies.

    Trading Platforms

    PRCBroker offers its clients the use of both MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms. These platforms are well-regarded in the industry for their advanced functionalities, customizability and user-friendly interfaces.

    MT4

    MT4 is known for its robust charting capabilities, wide range of technical indicators, and the ability to use and create Expert Advisors (EAs) for automated trading.

    On the other hand, MT5, as an upgrade of MT4, boasts enhanced features such as additional timeframes, more technical and fundamental analysis tools, and the ability to trade a wider variety of instruments.

    MT5

    By offering both platforms, PRCBroker is catering to a wide spectrum of traders with varying trading needs and strategies.

    MT4/5 mobile

    Deposit & Withdrawal

    PRCBroker does not provide specific public information about their deposit and withdrawal processes. These details, which are critical to the convenience and efficiency of trading, are only available once you have registered and opened a PRCBroker account.

    PRCBroker minimum deposit vs other brokers

    PRCBrokerMerlion Global Most other
    Minimum Deposit $500 $100

    While this may be part of the broker's privacy or security measures, it is advisable to reach out directly to them or consult their customer service to get clarity about their deposit and withdrawal processes and any associated fees. This will help you to better understand their operations and decide if their policies align with your requirements and expectations.

    Customer Service

    PRCBroker is committed to providing support to its clients round the clock and hence, offers customer service 24 hours a day, five days a week. Their customer support team can be reached through several channels.

    For instant communication, there is an online chat option available on their website.

    Alternatively, you could also get in touch with them via phone. For Cyprus-based clients, the contact number is +357-9623-6568 and for those based in Vanuatu, the contact number is +678-513-1393.

    If you prefer communication through email, you can write to them at support@prcbroker.com. This comprehensive support system ensures that all client queries and issues are promptly addressed.

    Cyprus offce Vanuatu office
    Company Performance Ronnaru Company Ltd (Cyprus) Performance Ronnaru Capital Ltd(Vanuatu)
    Tel +357-9623-6568 +678-513-1393 (9am-5pm, GMT+11)
    Address 7B Andrea Papakosta Street 1037 Nicosia, Cyprus Govant Building, BP 1276, Port Villa, Vanuatu

    Frequently Asked Questions (FAQs)

    Q 1: Is PRCBroker regulated well?
    A 1: Yes. It is regulated by CYSEC and offshore regulated by VFSC.
    Q 2: At PRCBroker, are there any regional restrictions for traders?
    A 2: Yes. It does not provide services to residents of the USA, Mauritius, Canada, Haiti, Suriname, North Korea, Puerto Rico, and Hong Kong.
    Q 3: Does PRCBroker offer industry leading MT4 & MT5?
    A 3: Yes. Both MT4 and MT5 are available.
    Q 4: What is the minimum deposit for PRCBroker?
    A 4: $500 for the Standard account, while $50,000 for the ECN account.

    Risk Warning

    Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.

    In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

    News

    PRCBroker | Opportunities: Real, Lira, and Rupee - 2023 Demo Trading Contest Interview Series

    NewsPRCBroker | Opportunities: Real, Lira, and Rupee - 2023 Demo Trading Contest Interview Series

    2023-03-17 18:18

    In this interview WikiFX is pleased to invite PRCBroker, the standard sponsor of Demo Trading Contest, to share the market outlook in 2023.

    WikiFX
    2023-03-17 18:18
    News
    PRCBroker | Opportunities: Real, Lira, and Rupee - 2023 Demo Trading Contest Interview Series

    User Reviews

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    6

    Comments

    Write a review

    FX1638635801
    more than one year
    PRCBroker is a decent broker with a good reputation. However, the leverage they offer is too restrictive for most of my trades. That being said, they are consistent and overall a good broker. They might be better suited for traders with extensive experience.
    2024-03-08 18:51
    Reply
    0
    0
    Streaming
    more than one year
    Been with them for a couple of years and, honestly, I've had a pretty good run. Let me tell you, they've got a smorgasbord of market instruments; forex, precious metals, crude oil, and stocks, you name it. It's like walking into a candy store for traders. Plus, they've got the ever-reliable MT4/MT5 platforms, so thumbs up for that. Also, their customer support? Pretty stellar. No matter what issue I'm dealing with, these guys are always on standby, ready to help out. Few things to consider, though. They've got higher than average minimum account deposits, especially for the ECN accounts. And for some strange reason, you have to open an account to access info on trading conditions - I mean, c'mon, where's the transparency? And don't even get me started on the regional restrictions. But, all in all, PRCBroker ain't a bad choice. They're regulated, which always brings a wave of relief, especially for those of us who've had a run-in with dodgy brokers in the past. Just wish they were a bit more upfront about a few things. So, give them a shot if you're fine with all this. But remember, always double-check all details, terms, and conditions. And, as always, only bet what you can afford to give up. Happy trading!
    2023-09-13 17:51
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    0
    0
    睡不醒3825
    more than one year
    After trading for a period of time, I feel pretty good, there is no slippage, and deposits and withdrawals are also very fast. There is also a return call for withdrawing funds, which is a very reassuring platform.
    2023-04-07 14:31
    Reply
    0
    1
    汇市小韭菜
    more than one year
    Low spreads and high rebates. The deposit and withdrawal are also fast. Not too slippery. I don't know where these bad reviews come from?
    2023-02-01 11:33
    1
    0
    2
    Diego
    more than one year
    Don't trade with PRCBroker! Run cos they would milk you dry and then deny every allegation as they did for me. It is a 100% scam and just stays away as soon as possible!
    2022-12-08 17:40
    Reply
    0
    0
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