||St. Vincent and the Grenadines
||No effective regulation at this time
|Year(s) of establishment
||Currency pairs, metals, energy
|Minimum Initial Deposit
||0.01 pips onwards
||MT4, own platform
|Deposit and withdrawal method
||sure pay, rhb, affinbank, bsn, cimb, ambank, hongleong bank, publicbank
||Email/phone number/address/live chat
|Fraud Complaints Exposure
||No for now
General information and regulations of Hextra Prime
Operating from Kingstown, Saint Vincent and the Grenadines, Hextra Prime is an online retail broker that was launched in 2020. Hextra Prime currently only accepts clients from Asia & the Pacific confederation, specifically from South East Asia. Hextra Prime does not provide services to the American region, Arab states, CIS countries, and European nations. Hextra Prime does not fall under any regulatory agency at this stage.
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on.
At the end of the article, we will also briefly summarize the main advantages and disadvantages so that you can understand the broker's characteristics at a glance.
Currency pairs, metals, energy.... Hextra Prime allows clients to access a series of trading markets. However, we must admit that there are not as many instruments as other forex brokers provide. cryptocurrencies, stocks and indices are currently unavailable.
Spreads and commissions for trading with Hextra Prime
In the case of Hextra Prime, spreads and commissions depend on the instrument and the account. Let's take a raw account as an example. Minimum spreads are about 0.01 pips and commission is $3 - $6 per lot.
Account Types for Hextra Prime
Demo Account: Hextra Prime provides a demo account that allows you to try out the financial markets without the risk of losing money.
Live Account: Hextra Prime offers a total of 4 account types: standard, cashback, bonus and raw. The minimum deposit to open an account is $15, $15, $15 and $100 respectively. The threshold to open an account at Hextra Prime is quite low. However, we should also realize that too little capital not only reduces losses, but also reduces profitability. Therefore, you may find it “unexciting” or unprofitable. In addition, accounts with smaller initial deposits tend to have poorer trading conditions.
Trading platforms offered by Hextra Prime
As for the trading platform, Hextra Prime provides its clients with two options. There is public platform such as MT4 that have served many clients worldwide, also Hextra Prime's own platform. If you didn't want to spend time familiarizing yourself with a new platform, you could choose MT4. But Hextra Prime's own platform provides better compatibility with businesses, as they are specially developed and customized platforms. The choice is yours.
Leverage offered by Hextra Prime
Hextra Prime offers a maximum leverage of up to 1:5000, which is a generous offer and ideal for professional traders and scalpers. However, since leverage can magnify your profits, it can also result in a loss of capital, especially for inexperienced traders. Therefore, traders must choose the right amount according to their risk tolerance.
Deposit and withdrawal methods and fees
As for deposits and withdrawals, the company lists only a few payment options, but does not cover the most important parts, such as additional fees, minimum amounts, time required for procedures, etc. the possible payment methods are: sure pay, rhb, affinbank, bsn, cimb, ambank, hongleong bank, publicbank.
There is no education section on the Hextra Prime website. Many brokers are able to provide a variety of educational resources such as video courses, seminars, e-books, related articles, glossaries that provide some basic knowledge about trading. This is not the case with Hextra Prime.
Customer support of Hextra Prime
Below are the details about the customer service.
Service Hours: 24/5
Address: Hextra Prime LTD. Suite 305, Griffith Corporate Centre, 1510, Beachmont, Kingstown, Saint Vincent and the Grenadines
Users exposures on WikiFX
We have not received any reports of fraudulent activity at this time. However, this does not necessarily mean that this broker is safe and you should remain vigilant to prevent being scammed.
Advantages and disadvantages of Hextra Prime
Low minimum deposit
No effective regulation
Few instruments available
Few information available
Few deposit and withdrawal information
No copy trading
No educational resources
Frequent asked questions about Hextra Prime
Is this broker well regulated？
No, it is currently not effectively regulated and you are advised to be aware of its potential risks.