Grand Prime Stock is a foreign exchange broker that supports it’s clients to trade Forex, Indices and Commodities amongst other assets. The broker was established in 2021 and has been running ever since. It is currently located in United Kingdom as it's main base of operations.
Grand Prime Stock Accounts
The account that you use can have a huge effect on the trading conditions that you get to experience. There can be a lot of information available in regards to the accounts that Grand Prime Stock offer. It would be advised to check the website of the broker yourself to gain a better understanding of the different accounts on offer.
The information provided on this page will help you to understand some of the features, but to get a full picture, you will need to check the site yourself. Things like leverage, minimum deposit, spreads and commission can vary, the data on this page is the minimum or maximum available rather than the full range on offer from each broker.
Grand Prime Stock Deposits and Withdrawals
The broker that you choose must accept the deposit method that you require, the following deposit methods are available to use: Credit/Debit Card, Bank Transfer.
Something that a lot of people hate about some brokers is the fact that they charge fees for depositing or withdrawing. Thankfully that is not the case here. There are no fees charged for depositing or withdrawing your funds, just the way it should be.
The majority of forex brokers will process withdrawals around midday or shortly after if the withdrawal request was placed before that time. If placed afterwards then they are often processed the next working day. Be sure to check the times of the method of withdrawal that you used, for instance, PayPal is always a lot quicker than a bank wire transfer.
Grand Prime Stock Trading Conditions
The maximum amount of leverage currently being offered by the forex broker is 200:1. A lot of brokers are starting to aim for amounts in the region of 500:1 and this is what a lot of new traders are looking for. Amounts under this are normally due to the broker not wishing to take on too much risk, or due to their regulatory status. A lot of regulators are starting to reduce the amount of leverage that can be offered in a bid to protect retail clients. These leverages are normally limited to around 30:1 or 50:1.
The minimum trade sizes that you can take is 0.01 lots. Most brokers will offer this at 0.01 lots which is the same as 1,000 base units. Any more than that and it can limit what trades you can make, especially if you have a smaller account or lower amounts of leverage. For new traders, you should always look for a broker offering 0.01 lots as a starting trade size.
Grand Prime Stock Trading Costs
There are several different costs associated with trading. These are mainly the spread, commission and swap charges.
Unfortunately, there does not appear to be any information on the website in regards to what the minimum spreads are or what the general spread amount is. Normally this is advertised when relatively low, so if they are not present, it can sometimes mean that they are quite high.
There is currently no commission charged by this broker, this means that all of their profit is coming from the spread. There are no additional charges for each trade that you make.
Swap fees are charged with this broker. A swap fee is a charge that is put onto your account for holding a trade overnight when the markets change over. To get an accurate swap fee, be sure to check the broker website as they are constantly changing.
Grand Prime Stock Trading Platforms
The trading platform that you use can make a huge difference to your trading. Each forex broker offers different trading platforms. The following trading platforms are available to use: WebTrader.
The forex broker only offers a WebTrader platform. These sorts of platforms are great for those that need to trade on the move, but thy often come with a number of downsides. Their features are generally quite basic, not supporting things like expert advisors and only offering te very basic offunctions. If you need more sophisticated trading features, then you will struggle to only use a WebTrading platform..
Grand Prime Stock Customer Support
There are a number of different ways that you can get in contact with the broker, these include Email, Phone. A broker must be contactable. Issues do happen, so having a reliable way to get in contact is vital. The more methods available the better as it makes getting that help that you need just a little bit easier.
As well as it being important to have methods to get in contact with the support team, it is also important that they are available. The good news is that the broker has its support team available 24 hours a day 7 days a week. This simply means that no matter the time of day, there will be someone available to help you.
Grand Prime Stock Demos and Bonuses
Demo accounts are fantastic, they allow you to test out new strategies or changes to your current one with absolutely no risks to your capital. So it is good news that demo accounts are available from this forex broker. Simply log into your account and open one up. Be sure to use them as much as possible. They can also be used to get an idea of how the trading platform works and how to place trades as well as the sort of trading conditions that you may encounter should you use a real account.
There are bonuses on offer from this forex broker which could help to increase your starting funds or offer other benefits. We would always ask you to take a look at the small print on any bonus that you are thinking of taking. Some brokers use them to lock in your funds, that is not to say that this broker is doing that though. So check the small prints before taking a bonus.
Grand Prime Stock Regulation
At this point in time, the forex broker is not regulated by any authorities.
Regulation is not the be-all and end-all of brokers. The majority of regulators are there to ensure that client’s money is protected. Should the broker go out of business, it will be far easier to reclaim money from the forex brokers accounts. Some regulatory bodies will also oversee the running of some brokers and the way that they operate. While regulation can help to make a broker fairer, it does not fully prevent wrongdoings and non-regulated brokers can be just as trustworthy as regulated ones.