What is CharterPrime?
CharterProme is a global financial and Forex broker that was established back in 2012 with embraced philosophy to provide personalized trading conditions and create a trusted trading environment. Indeed, these strives are valuable for any type of investor so CharterPrime took it seriously and is a regulated broker by the New Zealand authority also registered financial provider in Australia since headquarters there.
The broker maintains global offices and constantly improving its already strong position among the market offering, which is also proved by the consistency of the service they provide as well reflects on its value offering.
Is CharterPrime safe or a scam?
As for the legit status, CharterPrime mentions its regulation across several jurisdictions, while the main license its received from the New Zealand FSP.
However, CharterPrime office is also based in Australia, while holding only registration by the governing structure necessary to operate brokerage in Australia legally. Eventually, all Australian brokers should be regulated by the Australian Securities and Investments Commission (‘ASIC’), as a recognized world authority which regulated Forex and trading industry.
How traders protected?
New Zealand registration also provides necessary safety obligations towards its licensors so there are numerous applied rules on how the a broker is operating. First of all, regulation means broker was carefully checked before its authorization, the firm does apply safety measures as well as carefully checked at every step it makes.
So there is a certain level of guarantees towards you money safety, segregation of the accounts as well as participation to the customer protection. Which is all in all with all the safety measures and legit status the most crucial factor to check while choosing a broker.
Leverage
One of the great features of Forex trading is of course available to leverage your positions, meaning a gain of greater exposure to the market with the possibility to make bigger gains. Yet, you should always learn how to use leverage smartly, as with its success potential high risk increasing as well.
Obviously, CharterPrime as an Australia and New Zealand broker together with its obligations to local regulation still allows high leverage.
Ratios up to 1:500 for Forex instruments and major currency pairs available for retail traders
However, recently major and respected authorities worldwide restricted the use of the leverage to much lower levels due to high risk, so it is again another great opportunity from CharterPrime as a benefit for your strategy.
Accounts
As CharterPrime promises in its trading opportunity to offer flexibility for strategies and traders respectively, the broker does define three account types that may suit particular needs.
Therefore, there is a Variable account with a basis of variable spread, ECN Account with raw spreads and commission charges of $8 per lot and a swap-free account.
Also, fund managers can manage multiple trading accounts with CharterPrime specified offering by the use of the percentage allocation methodology known as PAMM accounts or MAM accounts with block trades executions.
How to open Account
In order to open an Account at CharterPrime you should follow to sign-in page and process guided steps as following.
Register your account with personal information along with email, phone, full name
Confirm your account through the link in the email with your username and password
Proceed with proof of identity and address upload. Due to regulatory requirements.
Once the account is verified you can make the first deposit and start trading
Conclusion
Concluding CharterPrime Review we found strong regulatory obligations provided by the New Zealand authority, as well as defined quite competitive trading conditions. What we really like at CharterPrime is a simple and powerful offering that is consistent with the important point for potential trading success. These include powerful execution technology, industry proven software and a choice between the account types with some of the lowest spreads in the industry.