EuroPrime Broker Review
One of F1Markets Limited’s man trading brands is called EuroPrime. Additionally, this corporation runs the brokers 24CM, Investous, and Stratton Markets.
Their primary offices are in Cyprus, and as a result, the business is registered with CySEC, the local regulatory body. Even though the broker is registered, there have been numerous regulatory problems.
The First Wave of FCA Bans EuroPrime
The FCA has strict rules governing the trading of CFDs, above anything else. The regulator started taking action against the numerous CySEC-registered brokers in 2020 who did not adhere to its stringent requirements.
Along with Investous and a number of other brokers, EuroPrime and its parent business were among the first brokers the FCA barred from the UK. The brokers’ habit of inventing fictitious celebrity endorsements for their adverts on social media and other platforms prompted this restriction.
Their Own Regulator Has Suspended Them
CySEC temporarily suspended the broker when the FCA made public the bogus celebrity endorsement scheme that EuroPrime and other brokers had engaged in.
All advertising was halted during this period, and taking on new clients was prohibited. The broker had to fulfill a set of requirements established by the regulator in order to have the suspension lifted.
The suspension was lifted on the planned date one month later, suggesting that the broker complied with these requirements.
EuroPrime Trading
In our analysis of EuroPrime, we found that the broker offers a respectable range of tradeable products. They provide CFDs on commodities, equities, indices, and cryptocurrencies in addition to foreign currency pairs.
The main cryptocurrencies are all available, thus their variety of cryptocurrency CFDs is enough. Only the higher account kinds have favorable spreads; the rest have poor spreads.
The spread for the EUR/USD pair typically represents the overall quality of a broker’s spreads. For simple accounts, this broker’s 2.5 pip spread is far too high.
better elsewhere, this broker is still a good choice.
Trading Platforms EuroPrime
The broker offers traders two trading platforms: the regular MetaTrader 4 platform and the Leverate-developed Activ8 platform.
Since MetaTrader 4 is widely used by online brokers, the majority of traders are already aware with it. Activ8 is generally competitive with MetaTrader 4, and it offers several cutting-edge trading capabilities. On the platform, along with news and an economic calendar, are numerous instruments for market analysis.
Users can only download the broker’s platform after signing up; there is no demo account available. The fact that the download only happens following a phone contact from the broker is concerning because internet brokers frequently engage in aggressive upselling during calls.
Is EuroPrime safe to trade?
Numerous regulatory bodies have issued warnings against EuroPrime as a broker. Both the FCA and CySEC have issued alerts on this broker. This broker was registered by CySEC but was found to be out of compliance with the trading regime. This leads us to the conclusion that the broker is not reliable for trading.
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