On-line since: About company: PrivateFX was founded in 2015. One of the largest investment companies Concorde Capital, which is owned by well-known Ukrainian businessman Igor Mazepa, supported opening and development of the broker. Some of PrivateFX clients came from bankrupted ForexTrend as the broker developed special program 1+1 that allowed to transfer the remaining funds from ForexTrend accounts to PrivateFX. In addition, the broker offers its clients to trade binary options. All you need to do is to choose an asset, predict the trend – up or down – and select the amount of investment. The operation takes 30 seconds. Profit from the successful transaction is up to 80%. The company's website states that PrivateFX is included in the top three companies in the CIS with the biggest PAMM system's capital of over $20,000,000. The company works with more than eight thousand clients, including such celebrities as Pavel Bure. The broker was awarded with the following titles:
PrivateFX clients can trade currency pairs, shares, metals, commodities, CFDs and binary options on the MetaTrader4 platform. Trading account is developed for professional forex traders. The broker provides an opportunity to open an unlimited number of trading accounts if a trader do not have any other similar accounts with zero balance. Minimum deposit: $20 Spreads: floating Leverage: from 1:100 to 1:500 Commission: $10/lot Minimum deal size: 0.01 lot Automated trading is available Hedging is prohibited. PAMM account contains all the main offers of a standard trading account, but also a trader can manage several accounts using own capital and investors’ funds. So, both investors and traders receive additional income. Minimum deposit: $500 Leverage: 1:100 All other conditions are identical to the standard trading account. Active investor is a service developed by PrivateFX. It contains all the functions of the PAMM account, but the holder of the Active investor account can also receive trading signals from other PAMM managers. Minimum deposit: $10,000 All other conditions are the same as for the PAMM account. If you have already worked with PrivateFX, leave your feedback about the broker.
3/10
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PrivateFX service pleased me for a long time and I've found a stable server. I can open an order instantly, which gave me the confidence to make a profitable deal. So I can manage to turn my account balance to $580 within six months. I say my Invest is safe with PrivateFX broker.
In my opinion, I do not recommend PrivateFX because of their poor systems offered to their clients. Their server had many re-quotes during the trading time and placing orders. Thus my trades were delayed in traffic time. Moreover, the trading platform was not good and unstable. Sometimes, it was crashed and froze. It has very slow execution both on entry and exit. Deposits are quick, but withdrawal is extremely slow. I requested a withdrawal request last 2 weeks ago, and I have not received my money. It has been 5 days since my withdrawal request, and still no response from them.
I’ve been using PrivateFX for eight months now and I love how easy it is to navigate their website. The information is placed strategically so as to not confuse the users. Also, their MT4 platform is stable and has no slippage. My order is immediately executed to the position I want. The only thing I didn’t like was the slow response of their support team. I contacted them regarding my withdrawal on Tuesday morning and they replied to me late in the afternoon on Wednesday. Tho, I have no problem with the way they deal with me because they are polite. It’s really just that they took over 24 hours to respond.
I have been trading with PrivateFX for a month. I can say that it's only wasting time trading with them because their system down too often and it takes time to fix -sometimes more than 15 minutes- and of course, that situation really gave me a chance to lose my money. Once I made a withdrawal request, they processed it within a week. That much delays they gave and made me wait with no money. It's really wasting my time. I decided to close my account and stop using this broker for my trading.
I've lost $450 in a standard account with a PrivateFx broker. As my scalping, EA hang and didn't execute any orders due to their floating and high spread. So I am disappointed with the PrivateFX broker and want to leave them. I say they are 3rd class broker I have ever seen in the market.
I don’t recommend Private fX to anyone. In fact, I have been using the services for almost 5 months and experienced bad platform execution. I still remember the amount was a $500. Unfortunately, once I tried to close the position it was totally blocked me out from proceed any execution. Worst case, the MT4 server was down . They just blame. That's very disappointing. They should have looked for a solution. I will leave this broker soon and try another broker.
My experienced in demo account is nothing close to my real account. The platform is not stable and it always disconnect when I place and close position. I trade 7 days ago, and I could see that their execution is fair, slippage rarely happens. But until today I did not get that profit yet, and the platform keep freezing on a computer and can't login in mobile devices. I still don't know why it happened, so I contacted them for explanation. But they don't give me any answer except ask me to wain for 3 days. I hope they give my profit and money back, and I want to find another broker.
PrivateFX can be considered an average Forex broker. I started an account here in August and I think I might be closing my account soon. Overall, the trading experience is quite decent. However, the trading cost is too much for me. Since the spread is variable, there are times when it spikes up to more than 10 pips. In that case, I will no longer profit. I don't think this kind of system is worth the trouble.
All my trading activity here was not good. I joined to trade with Private FX because I was impressed by their promo about 100% bonus. My trading involved currency pairs: EUR/USD, USD/CAD, USD/JPY,USD/CAD. I lost all my funds, $1000 and I closed my account. Immediately, my account was frozen and I received an email saying that I had breached their terms and conditions, and they would cancel my trades and negate all my profits.
My brother is ranting non-stop to me because of what happened in his account at PrivateFX. I already warned him before to be extra careful in depositing his money especially when I found out that this broker is not regulated. But he was hardheaded and insisted that this broker could be trusted. He deposited $1000 and now he is having troubles withdrawing his funds. He said that the company kept delaying it and they don't answer promptly. I advise you to stay away from this broker.
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