PU Prime – Broker Review

PU Prime

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PU Prime

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Investors beware PU Prime – Warnings Have been issued by several securities commissions

Introduction:

PU Prime, previously known as Pacific Union, is a multi-asset broker that offers trading on forex, commodities, stocks, bonds, and indices. The broker supports the popular MetaTrader 4 and MetaTrader 5 platforms and a proprietary mobile app. PU Prime is regulated by the Seychelles FSA, as well as the FSCA and SVGFSA[4]. In this review, we will discuss the regulation and compliance of PU Prime, customer reviews, products and services, location, and customer service.

Regulation and Compliance:

PU Prime operates under full regulation from the Seychelles FSA, as well as the FSCA and SVGFSA[4]. Although the chosen regulatory authority isn’t as well regarded in the financial industry, PU offers negative balance protection and segregated client funds[4]. However, several securities commissions have issued warnings against PU Prime, including the ASC, FCA, Securities Commissions Malaysia, and DFSA[2][3][4]. These warnings suggest that PU Prime may be providing financial services or products without proper authorization and that investors should avoid dealing with the firm and beware of potential scams.

Customer Reviews:

Customer reviews of PU Prime are mixed. Some traders have praised the broker’s range of instruments and research materials, as well as its low trading costs and robust platforms[6]. However, other traders have reported issues with withdrawals and customer service[4][5]. It is important to note that customer reviews should be taken with a grain of salt, as they may not be representative of the overall quality of the broker.

Products and Services:

PU Prime offers several live account types with direct-to-market execution, including Standard and Prime accounts[4]. The broker also offers a Cent account with just a $20 minimum deposit, making it beginner-friendly[6]. PU Prime supports trading on forex, commodities, stocks, bonds, and indices, and offers competitive spreads and multiple account types to suit different trading styles[5][6].

Location:

PU Prime is based offshore in the Seychelles[4]. While this may be a cause for concern for some traders, it is important to note that the broker is regulated by the Seychelles FSA, as well as the FSCA and SVGFSA[4].

Customer Service:

PU Prime offers reliable support via live chat and email[6]. However, some traders have reported issues with customer service, so it is important to keep this in mind when choosing a broker.

Conclusion:

In conclusion, PU Prime is a multi-asset broker that offers trading on forex, commodities, stocks, bonds, and indices. The broker is regulated by the Seychelles FSA, as well as the FSCA and SVGFSA, and offers negative balance protection and segregated client funds. While customer reviews of PU Prime are mixed, the broker offers a range of account types and competitive spreads, making it a viable option for traders. However, it is important to keep in mind the warnings issued by several securities commissions and to exercise caution when dealing with the broker.

Citations:

[1] https://puprime.com

[2] https://www.asc.ca/en/Enforcement/Investment-Caution-List

[3] https://www.fca.org.uk/news/warnings/pu-prime-pacific-union-seychelles-limited

[4] https://www.daytrading.com/pu-prime

[5] https://www.wikifx.com/en/dealer/3361482328.html

[6] https://www.fxempire.com/brokers/puprime