Score
Saint Vincent and the Grenadines
|
2-5 years
| https://primecodex.com/
Website
Rating Index
MT4/5
Full License
PrimeCodex-MT5
Influence
C
Influence index NO.1
Indonesia 2.89
MT4/5 Identification
Full License
United KingdomInfluence
C
Influence index NO.1
Indonesia 2.89
LicensesNo valid regulatory information, please be aware of the risk!
Saint Vincent and the Grenadines
Formal full license MT4/5 traders will have sound system services and follow-up technical support. Generally, their business and technology are relatively mature and their risk control capabilities are strong
primecodex.com Singapore| Prime CodexReview Summary | |
| Founded | 2021 |
| Registered Country/Region | Saint Vincent and the Grenadines |
| Regulation | NFA (unauthorized) |
| Market Instruments | Forex, Metals, and US Stocks |
| Demo Account | ✔ |
| Leverage | Up to 1:500 |
| Spread | From 0 pips (floating) |
| Trading Platform | MT5 |
| Minimum Deposit | $1 |
| Customer Support | Email: support@primecodex.com |
| Phone: +1 603 384 3279 | |
| Social Media: Instagram, Twitter, Facebook | |
| Address: Suite 305, Griffith Center, Beachmont, Kingstown.St, St Vincent and the Grenadines | |
| Live Chat | |
| Regional Restriction | the United States, Japan, Canada, Australia, North Korea, the United Kingdom, Iran, Syria, Sudan, and Cuba. |
Prime Codex, founded on March 12, 2021, is a brokerage firm registered in Saint Vincent and the Grenadines. It offers trading services for Forex, Metals, and US Stocks through its platform, which supports MetaTrader 5 (MT5). The company provides three account types: Standard Account (for beginners), ECN Account (for experienced traders), and US Stock Account (also for beginners). Prime Codex operates with up to 1:500 leverage for Forex and Metals accounts and 1:10 leverage for US Stocks. However, it is important to note that Prime Codex is unregulated, which may pose risks for traders.
| Pros | Cons |
| MT5 available | Unauthorized license |
| Commission free | Limited payment options |
| Live chat support | Regional restrictions |
| Demo account available | |
| Low minimum deposit of $1 |
Prime Codex is an unregulated brokerage firm even if it claims to be regulated. It common financial service license issued by National Futures Association (NFA), with a license number of 0554233, is unauthorized. Traders should take care while engaging with this platform.
Prime Codex offers 3 trading instruments: Forex, Metals, and US Stocks.
| Tradable Instruments | Available |
| Forex | ✔ |
| Metals | ✔ |
| Stocks /Shares | ✔ |
| Indices | ❌ |
| Cryptocurrencies | ❌ |
| Options | ❌ |
| Mutual Funds | ❌ |
| ETFs | ❌ |
Prime Codex provides a demo account where traders can practice trading without losing real funds.
Prime Codex offers 3 types of live accounts: Standard Account, ECN Account, and US Stock Account.
Standard Account: Suitable for beginners, with no commission, spread starting from 1.0, and a minimum deposit of $1.
ECN Account: Suitable for experienced traders, with a commission of $7, spread starting from 0.0, and a minimum deposit of $100. This account offers raw spreads and swap fees enabled.
US Stock Account: Suitable for beginners, with no commission, spread starting from 1.0, and a minimum deposit of $10.
| Account Type | Minimum Deposit | Commission | Spread Start From |
| Standard Account | $1 | $0 | 1.0 pips |
| ECN Account | $100 | $7 | 0.0 pips |
| US Stock Account | $10 | $0 | 1.0 pips |
The maximum leverage offered by Prime Codex is 1:500 for ECN and STP accounts and 1:10 for US stock accounts, providing traders with the opportunity to amplify their positions and potentially maximize their return on investment.
Commissions: Zero commissions for Standard and U.S. stock accounts, and $7 per lot for ECN accounts.
Spread:
Standard Account: The spread starts from 1.0 pips. This means that when you trade using this account, the minimum spread you will encounter is 1.0 pips.
This is a common spread for standard accounts designed for beginners.
ECN Account: The spread starts from 0.0 pips, which indicates raw spreads. Raw spreads mean that the platform does not add any additional markup to the spread; instead, it passes through the actual market spread.
This is beneficial for experienced traders who want to trade with minimal added costs
US Stocks Account: Typically, US stocks have variable spreads depending on the stock's liquidity and volatility. Since no explicit number is provided, we can only infer that the spreads are generally low compared to other financial instruments like forex or commodities.
Swap:
Swap fees are enabled for Standard Accounts and ECN Accounts. U.S. stock accounts do not have swap fees enabled.
Prime Codex supports trading using MT5. MT5 (MetaTrader 5) is a multi-asset financial trading platform developed by MetaQuotes. It supports the trading of many financial products such as forex, stocks, futures, CFDs, and more.
| Trading Platform | Supported | Available Devices | Suitable for |
| MT5 | ✔ | Desktop, Mobile, Web | Experienced traders |
| MT4 | ❌ | / | Beginners |
Prime Codex offers two withdrawal methods: cryptocurrency withdrawal and credit card withdrawal.
The minimum deposit for the Standard Account is just $1, which is very low and could be attractive for beginners. The ECN Account requires a minimum deposit of $100, and the US Stock Account has a $10 minimum deposit. If I were just starting out, I’d likely opt for the Standard Account due to the low deposit requirement.
Prime Codex is an unregulated broker. This is a significant concern for me, as dealing with unregulated platforms can expose me to higher risks. Without regulatory oversight, there’s no assurance that my funds are fully protected, and I would approach this broker with caution.
The spreads vary depending on the account type. The Standard Account has spreads starting from 1.0 pips, the ECN Account has raw spreads starting from 0.0 pips, and the US Stock Account has variable spreads based on the stock's liquidity. For me, the ECN Account is the most appealing because of the raw spreads, although I’d need to account for the additional commission costs.
Prime Codex offers three instruments: Forex, Metals, and US Stocks. While this is a decent selection for some traders, I would have preferred more variety, like indices or cryptocurrencies, to diversify my trading portfolio. For me, this limitation might steer me toward brokers that offer a wider range of assets.
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samaracarson27
Indonesia
The customer support of Prime Codex is excellent! They’re always quick to respond, and I never feel confused or stranded. A true lifesaver when trading gets challenging.
Positive
daveee9866_
Indonesia
The design of Prime Codex is sleek and incredibly user-friendly. Compared to other brokers I've tried, it's truly a breath of fresh air.
Positive
FX2151389702
Indonesia
The registration process at Prime Codex is refreshingly simple, even for beginners. No confusing steps or delays!
Positive
L.H3737
Indonesia
Prime Codex offers a sleek and intuitive interface, making trading effortless even for beginners. For this dashboard also has a comprehensive page and is very easy to use, even on my tablet or phone
Positive
zenzen9772
Indonesia
Prime Codex stands out with its ultra-low spreads, allowing traders to keep more of their profits while minimizing trading costs—perfect for frequent traders.
Positive
Degimaru
Indonesia
I love the user-friendly design of Prime Codex’s platform—everything is easy to find and use.
Positive
ポ福
Turkey
So far so good, the broker is a bit slow in resetting passwords. Reaching out to support mail, they sorted it quickly. Broker has made profits very quickly, trying to do my first withdrawal. Let's see how that goes in a couple of days, will leave an update here again if I get all cashback without having to fight for them.
Positive
1a1b2采
India
User-friendly platform. I first opened a demo account with Prime Codex to understand the look and feel of the platform and to be very honest I am impressed with how easy it is to use.
Positive