CharterPrime Fees and Spreads
CharterPrime Fees and Spreads
CharterPrime fees and spreads start from $8 with spreads form 0.0 pips.
CharterPrime’s trading fees depend on the type of financial instrument being traded in addition to the account type, with spreads that start from as low as 0.0 pips.
CharterPrime has trading fees which are transparent in a summary of fees along with a comprehensive spread list. The spread provided will depend on the type of account that the trader chooses.
Traders have the option of choosing three different type of accounts, each designed to cater for a variety of traders depending on their trading plan in addition to their trading knowledge, experience, and skill.
The features tied to these plans are:
- Variable Account – minimum deposit of $100, variable spreads depending on the financial instrument, leverage up to 1:500, zero commissions.
- ECN Account – minimum deposit of $100, spreads from 0.0 pips, leverage up to 1:500 and commissions of $8 per lot.
- Swap Free or Islamic Account – minimum deposit of $100, variable spreads depending on the financial instrument, leverage up to 1:500 and commissions of $40 per lot every Wednesday.
Traders should note that certain financial instruments can only be traded during a certain time of the day, especially when considering different time zones, and additional fees may be charged should they hold these positions after they have closed.
Additional Trading Fees
Overnight fees, otherwise known as swap fees or rollover fees, may be charged for positions held open for longer than a day. CharterPrime offers a Swap Free or Islamic account to all its traders regardless of whether they are of Muslim faith.
CharterPrime does not offer traders with spread betting and therefore spread betting fees are not applicable to this broker.
CharterPrime charges both deposit fees and withdrawal fees according to the payment method used when depositing or withdrawing funds, the payment methods on which fees are waived include:
- USDT – deposit fee and withdrawal fee of 5%.
- Bank Wire Transfer – withdrawal fee of $40.
- Skrill – withdrawal fee of 1%.
- Neteller – withdrawal fee of 2%, maximum $30.
CharterPrime does not mention whether an inactivity fee or any other administrative fees are waived for account maintenance and management.
Pros and Cons
|1. Average commissions||1. High withdrawal fees|
|2. Variable spreads starting form 0.0 pips|
|3. Competitive trading conditions|
|4. Provision made for Islamic Account|
How many instruments can I trade with CharterPrime?
You can trade more than 50 financial instruments including:
- Precious Metals
- Index CFDs, and more.
Which platforms are supported by CharterPrime?
CharterPrime provides the following popular trading platforms:
Does CharterPrime offer leverage?
CharterPrime offers a maximum leverage up to 1:500 on all the account options available.
What spreads can I expect with CharterPrime?
Spreads from as little as 0 pips when choosing an ECN Account.
The spreads will be determined by type of live account you choose to register.
Does CharterPrime charge commission?
Commissions are charged when using an ECN Account and a Swap Free Account. Commissions of $8 per lot are charged on the ECN Account and $40 commissions are charged on the Swap Free Account on Wednesdays.
Is CharterPrime regulated?
Yes, CharterPrime is regulated by the highly reputed FSP in New Zealand.
Is CharterPrime a recommended forex trading broker for experts and beginners?
Yes, CharterPrime offers a good trading environment for all types of traders, from beginners to advanced.
What is the overall rating out of 10 for CharterPrime?