Reviewing Milton Prime – Amazing trading conditions
Looking for a trustworthy, safe, and secure Forex can be a little tiring. There are many brokers available in the market, and deciding which one is better can be very confusing. Milton Prime is a very famous Forex broker that offers services to traders around the world.
The broker is licensed by two regulatory agencies, one from Seychelles and another from Europe. The European license gives the broker the ability to offer the services to the whole region. The trading conditions of the Forex broker are very competitive. It offers traders very high leverage and tight spreads.
We have reviewed Milton Prime and found out that it is a safe and secure Forex broker that cares about your experience. So, if you want to learn more about the services of the Forex broker, follow our review and start trading today.
Regulatory framework of Milton Prime
In the world of Forex trading, one thing that matters the most is safety and security. There are several things that traders can do to stay safe at all times. The most important thing is to only trust regulated Forex brokers. Milton Prime is licensed by two regulatory agencies, one of them is FSA from Seychelles, which is an offshore regulatory body, another is CySEC, a European regulator.
CySEC is the main regulatory body of Cyprus, and since Cyprus is an EU-member state, the Forex broker has the right to offer its services to the whole region.
There are several requirements that the Forex broker has to follow because of the regulations. It is required to keep the funds of its clients on segregated bank accounts, which is a great advantage and means that your funds will be kept safe.
The Forex broker also has adopted the negative balance protection, which is a very important thing, especially for those who are trading Forex with higher leverage. The Forex broker offers a leverage of 1:1000, however, keep in mind that due to the local regulations in the EU, European traders can’t use leverage higher than 1:30.
Thanks to the negative balance protection, you will not be able to lose more money than you have deposited on your account. This frequently happens to those who are trading with higher leverage, but the negative balance protection is a guarantee that such a thing won’t happen to you.
The trading platform of Milton Prime reviewed
To be able to trade Forex, one of the most important things that you have to do is to learn how to use a trading platform. You will be spending most of the time with the trading platform, thus, understanding how it actually works can be very beneficial for traders.
Our review of Milton Prime shows that this Forex broker offers traders MetaTrader 4, which is one of the best-known Forex trading platforms in the world. It has a very long history of offering traders amazing trading experience. Created in 2005, MetaTrader 4 changed the way people trade Forex forever.
There are several different versions of MT4 offered by the broker. You can download it or use it directly from the browser, as well as download a special mobile version of it on both iOS and Android devices.
What can you trade at Milton Prime?
One of the biggest advantages of this Forex broker is that it offers traders access to numerous trading assets. In addition to regular Forex trading, you can also trade CFDs on the following assets:
- Precious Metals
Trading with CFDs is very popular because of several reasons. First of all, in most cases, CFDs traders can use higher leverage, which gives people the ability to increase profits. However, it should be noted that higher leverage can also increase trading risks and should be used very carefully.
CFDs give you the ability to trade assets without actually holding them. While trading CFDs, you are speculating on the possible price movements in the market.
The broker also offers traders access to more than 50 currency pairs, this includes different types of pairs, such as majors, minors, and exotics.
How to create an account at Milton Prime?
To be able to trade Forex at this broker, you will need to first create a live trading account. For this, you will need to provide the broker with basic information about yourself. In addition, due to the KYC policy, you will also have to provide the broker with a copy of your ID, driver’s license, or passport.
Other than that, you will also have to send the broker a copy of a utility bill from the past three months. After creating the live trading account, you can use it to use the trading platform.
If you feel like you are not ready to use the live trading account, you can go with the demo trading account of the broker. Demo accounts are very popular among beginner traders for many reasons, the biggest one being the fact that you can learn more about Forex trading while using it. You can also try out different types of strategies and see which one works best for you.
Deposit funds on your account
Although the Forex broker does not offer many ways of deposits, it still is very easy to fund your account. There are several options that you have, you can either deposit funds using bank transfers or go with online payment solutions. Sadly, you can’t use credit/debit cards to make payments.
The great thing about the broker is that it does not charge traders any commissions. The only fee that the broker charge is the inactivity fee, which is charged after 60 days of inactivity.
So, is Milton Prime a legit Forex broker?
After reviewing Milton Prime Forex broker and going into details, we were able to find out that it is a legit Forex broker. It offers traders very competitive services such as very tight spreads, no commissions, and hundreds of trading assets. You can trade anything from currency pairs to stocks and indices to traders.
The Forex broker offers traders MetaTrader 4 trading platform, which is very easy to use and is very user-friendly. Because of all the reasons that we have discussed throughout the review, we can easily recommend this Forex broker to our readers.