MC Prime Forex broker review — Everything you need to know

MC Prime is the company’s trade name and website name, and the broker behind it is an offshore broker that offers trading services globally. It provides access to several trading account types, many assets, and advanced trading platforms.

In this unbiased and compact review of MC Prime, we will assess the broker’s most important features, such as safety, accounts, leverage, commissions, profit withdrawal policies, support, and much more.

MC Prime Overview of the website

The website of MC Prime is modern-looking and simple to navigate. However, it sometimes feels heavy due to many media features like videos and images. The broker does a satisfactory job of offering most of the details about its trading services on the main website, which is crucial in forex trading. There are menus to navigate and find out about account types, platforms, support, extra features, and so on. On the main page, too many things are happening at the same time, which might overload users’ eyes and minds, and make it difficult to search for what is important in trading, like trading events and other crucial details.

The live chat feature is built into the website directly using a plugin, which makes the whole process of support and contact fast and convenient.

The website is also mobile-friendly, which makes it easy to access from mobile devices. This is crucial for traders who prefer to trade on the go.

In the end, the website of MC Prime is satisfactory as it does its job really well. However, the broker needs to make its website faster.

MC Prime Safety and Licenses

MC Prime is an offshore broker that is registered and regulated in Mauritius by the Financial Services Commission (FSC) of Mauritius. The broker is also licensed by the Cyprus Securities & Exchange Commission, “CySEC”. Having two licenses is very crucial for ensuring the broker is reliable and safe. While Mauritius and Cyprus are not very strict jurisdictions, the existence of two licenses still makes the broker a relatively safe option.

As a regulated broker, MC Prime keeps trader funds in segregated bank accounts, which is a critical safety feature.

The broker also provides negative balance protection, preventing traders from going into minus as the account balance is automatically reset to zero. This is a very important policy for beginner traders who can easily abuse the leverage or take excessive risks.

MC Prime Accounts Reviewed

MC Prime offshore broker offers a diverse set of trading account types. There are Standard, Basic, Raw, and US Cent accounts. The availability of both raw and cent accounts is crucial for beginners and scalpers, and makes the broker competitive. Let’s briefly overview each account to see whether the broker offers attractive trading conditions when it comes to spreads, leverage, and commissions.

MC Prime Standard Account

The standard account offers a commission-free trading experience and offers the following trading conditions:

• Minimum deposit – 50 USD
• Maximum leverage – 1:500
• Spreads – From 0.2 pips
• Commissions – 0 USD
• Minimum lot size – 0.01 lots

As we can see, the broker is very competitive on the commission-free standard accounts, offering very low spreads on major pairs.

MC Prime Basic Account

The Basic account is similar to the standard account in many ways, but there are still some minor differences. Here are its specs:

• Minimum deposit – 50 USD
• Maximum leverage – 1:200
• Spreads – From 0.2 pips
• Commissions – 0 USD
• Minimum lot size – 0.01 lots

MC Prime Raw Account

The Raw account offers spreads from 0.0 pips and is designed for scalpers and intraday traders who require the lowest spreads to succeed. Here are the conditions of this account:

• Minimum deposit – 2,000 USD (Limited-time discount)
• Maximum leverage – 1:200
• Spreads – From 0.0 pips
• Commissions – 7 USD per lot per side
• Minimum lot size – 0.01 lots

MC Prime US Cent Account

The cent account is for traders who are trading on a budget and need to operate with extremely low lot sizes. The contract size here is 10,000 per lot, unlike the standard. Here are the main specs:

• Minimum deposit – 50 USD
• Maximum leverage – 1:200
• Spreads – From 0.2 pips
• Commissions – 0 USD
• Minimum lot size – 0.01 lots

Overall, MC Prime is very competitive with its offerings. The only drawback is that a raw spreads account requires a very high minimum deposit of at least 2,000 USD, which makes it unattractive for most scalpers.

Deposit and withdrawal options at MC Prime

Payment options accepted by MC Prime are numerous, including bank cards (Visa and MasterCard), Neteller, Skrill, several other e-wallets, and wire transfers. The broker requires verification before withdrawals are allowed, but does not offer withdrawal processing time details clearly. This is concerning as reputable brokers clearly provide details about fees and withdrawal procedures, together with processing times.

MC Prime Assets — What can you trade?

MC Prime provides traders access to various markets such as Forex, Commodities, Cryptocurrencies, and Indices. There are no stocks offered for trading, which is a minor drawback for this broker. As for the trading costs, spreads are low, and there are no commissions, together with 1:200 leverage, enabling a comfortable and cost-effective trading environment.

Trading platforms of MC Prime

Trading platforms at MC Prime are numerous, including MT4, MT5, and several of the broker’s proprietary trading apps. These platforms enable traders to deploy technical indicators and Expert Advisors, which is advantageous. Mobile trading is possible using MT5 and the broker’s own mobile apps, which are available on both iOS and Android devices, enabling traders to trade seamlessly on the go.

Education at MC Prime

When it comes to educational resources, MC Prime offers very few learning materials. There are no trading courses, webinars, or video content offered for beginners. However, the broker offers a blog that combines market insights and analysis with basic guides about CFD trading. The blog is useful to check for daily technical analysis and insights to increase trading accuracy and avoid missing something important in markets.

MC Prime Customer Support

The customer support, which is an integral part of financial trading, is poor at the MC Prime broker. This is because it only offers an email support option, and there is no live chat offered. The broker is multilingual and its website is available in many different languages, which is advantageous. However, the lack of live chat is a serious issue and challenge.

MC Prime bonuses and promotions

The broker offers a 100% deposit bonus program on the first deposit. This is advantageous for traders who want to start small. However, there are no other types of consistent or scheduled bonuses offered at the moment, which is a minor drawback. There are no other promotional events available right now, which is a minor drawback.

Is MC Prime your broker? Final verdict

MC Prime presents an interesting case. It is a regulated offshore broker with licenses in Mauritius and Cyprus, offering competitive trading account types, low spreads, and popular advanced platforms like MT4 and MT5. While it provides up to 100% deposit bonus and a variety of trading asset classes, drawbacks include limited education, very weak customer support, and unclear withdrawal policies. The broker might be suitable for seasoned traders, but for beginners it is not very recommended due to the abovementioned issues.

FAQs on the MC Prime broker

Where is MC Prime based?

MC Prime is registered in Mauritius and licensed in both Mauritius and Cyprus, and is also regulated in these jurisdictions.

Can you withdraw from MC Prime?

Yes, withdrawals are possible via cards, e-wallets, and bank transfers, but exact details such as processing times and fees are unclear.