PCM Brokers Review 2024 Is Legit or Scam
With its state-of-the-art matching engine, EOS is geared to the needs of high-frequency traders, who require ultra-low latency platforms to trade productively and probably. It takes just a few minutes to open a live account with PCM Brokers. PCM Brokers DMCC, doing business as PCM Brokers, is licensed and regulated as a brokerage/clearing house since 2007 by the UAE Securities & Commodities Authority (SCA).
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Paul and Peter stay invested with their (original + returns) amount, while Phil cashes out the profit, leaving only his original investment of $2,500. Suppose one trading term passes (e.g., a month) and Marcus manages to make a cool 30% profit on his pool, which now stands at $19,500 ($15,000 + 30% profit or $4,500). PCM further claims it was established in 2007 and in fact it was incorporated in February 2017, according to the UK Companies House register.
PCM Brokers Review
By comparison, ADS Securities’ typical floating spreads amount to 1.6 pips on EUR/USD. For further information, you may also check out the real-time spreads of 15 major brokers here. Traders are required to deposit $100 in order to open an account with PCM Brokers, which is an average minimum initial amount.
💵 PCM Brokers Minimum Deposit :
- These traders/managers may manage multiple forex trading accounts using their capital and such pooled money, with an aim to generate profits.
- Enter the professional money managers (Marcus and Mathew), who have expertise in trading and managing other people’s money (like a mutual fund manager), along with their individual trading capital.
- What is more, it offers a variety of technical analysis indicators, extensive back-testing environment and advanced charting package.
Thomas J Catalano is a CFP and Registered Investment Adviser with the state of South Carolina, where he launched his own financial advisory firm in 2018. Thomas’ experience gives him expertise in a variety of areas including investments, retirement, insurance, and financial planning. The Xe Rate Alerts will let you fxpcm know when the rate you need is triggered on your selected currency pairs. Create a chart for any currency pair in the world to see their currency history. These currency charts use live mid-market rates, are easy to use, and are very reliable. Live tracking and notifications + flexible delivery and payment options.
Xe Currency Charts
After understanding their desired profit potential and risk aversion, individuals should perform due diligence in selecting a PAMM account broker and money manager. PCM is a UK-based forex and CFD broker that uses the good old MT4 platform https://forexbroker-listing.com/ and claims to offer pure NDD environment. Our main concern with PCM is that it is not licensed by FCA, nor by any other authority. Interested in trading foreign currency exchange markets, but don’t have the time or know-how to trade forex?
PCM Review Conclusion
Like most brokers, this one also supports the MetaTrader 4 (MT4) platform, desktop and mobile versions available. © ForexSQ.com All Rights Reserved – Online Forex Trading, Stock Trading are high risk and losses can exceed your investment. Check live rates, send money securely, set rate alerts, receive notifications and more. We can integrate this tool with other forex Brokers’ MT-4 terminals as well.
For more information about currency trading brokers visit TopForexBrokers.com forex brokers comparison website, Tip ForexSQ.com foreign exchange trading experts please by share this article about PCM Review. While the minimum initial deposit of $100 required by PCM is average, the trading costs on the Learner account type amount to at least 2 pips (2 х $9 + spread of 0.2 pips), which is above the average for the sector. By comparison, Trading212 (holding FCA license) offers spreads averaged 0.9 pips on EUR/USD and charges no commission fees. For further information and comparison, you may check out the real-time spreads of 15 leading brokers here. PCM offers its clients 5 account types, depending on their initial investment amount. All account types provide variable spreads, micro tradeable lots, and NDD environment on the MetaTrader 4 platform.
PCM Tools works in synch with your PCM Trader MT-4 Terminal and provides the market depth of instruments, which is not possible in a normal Meta Trader-4. Additionally, PCM Tools is a combination of three most useful things that will help you in your day to day trading activity tremendously. EOS focuses on the needs of professional traders who require a platform with ultra-fast order execution for the most efficient and profitable trading. PCM Brokers is a registered, licensed, regulated, and authorized brokerage company located in Dubai, UAE (with the registration number 0935 and the licenses and ). The broker has been providing its services to traders since 2007.
Learn more about Xe, our latest money transfer services, and how we became known as the world’s currency data authority. PCM Softech UK presents to you the PCM Tools, the most useful set of forex tools for professional traders and forex Brokerage firms. PCM claims to be fully regulated and licensed by the UK Securities and Exchange Commission in accordance with the Markets in Financial Instruments Directive and by the Cyprus Securities and Exchange Commission. However, as most of you know, the UK forex regulator is the Financial Conduct Authority (FCA), and a check in FCA’s online register revealed that this broker is not regulated.
The company’s headquarters are located on the 32nd floor in one of the buildings of the Jumeirah Lakes Towers. The broker has representative offices in Canada and the UK as well as in Mauritius. CM Brokers is registered at the Dubai Gold & Commodities Exchange (DGCX) and the Bourse Africa.
It also states how much the money (or percentage) the manager will charge as his take for offering this service. The broker offers such trading platforms as EOS Trader and MetaTrader4 (MT4). The investors (say Peter, Paul, and Phil) are interested in reaping profits from forex trading, but they either don’t have time to devote to trading activities or don’t have sufficient knowledge to trade forex. Enter the professional money managers (Marcus and Mathew), who have expertise in trading and managing other people’s money (like a mutual fund manager), along with their individual trading capital.
On the other hand, Mini & Elite account types offer tighter spreads, but require higher initial investment. The forex trading firm signs up Marcus and Mathew as money managers for managing other investors’ money. The investors (Peter, Paul, and Phil) also signup with Limited Power of Attorney (LPOA).
These traders/managers may manage multiple forex trading accounts using their capital and such pooled money, with an aim to generate profits. MT4 is the most popular forex trading platform, because users are able to entirely automate their trades by choosing from a wide range of Expert Advisors (EA) and let the program do all the work. What is more, it offers a variety of technical analysis indicators, extensive back-testing environment and advanced charting package. Typical variable spreads offered by this broker on Micro and 1000 Leverage commission-free account types are around 1.6 pips for EUR/USD, which is not bad, however such spreads are slightly above average. In fact, trading costs on Zero spread account are similar, if we add the commission applicable of $16 per standard lot round turn.
Obviously, this broker makes false claims, and is not supervised by any authority. Instead, we suggest that you select among brokers that are duly regulated by UK’s FCA, CySEC or Australia’s ASIC. PCM Brokers offers Get Cashback of up to 55% of the spreads, which is subject to certain trading volume requirements.
It is easy to use and offers a number of technical analysis indicators, extensive back-testing options, advanced charting package, and wide range of Expert Advisors (EA), allowing clients to automate their trades. Headquartered in Dubai, PCM Brokers offers trading 58 currency pairs, more than 10 CFD instruments and precious metals on several trading platforms. The broker has set no trading restrictions (allows scalping, trading with Expert Advisors, news trading, hedging etc.) and claims to utilize a pure NDD execution model. PCM Brokers is a regulated UAE brokerage with 10 years of experience. It offers wide range of trading accounts and platforms under overall competitive conditions. However, PAMM accounts also carry the risks of capital loss, based on a money manager’s performance.
Investopedia does not provide tax, investment, or financial services and advice. The information is presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Investing involves risk, including the possible loss of principal. PCM Softech UK yet again surpasses your expectation by providing you the most useful set of forex tools that you will ever need for successful trading. To use the PCM Tools, you need to have a Live Trading Account with PCM Brokers.