Pacific Union is a well-known internet broker with more than 200 exchangeable securities. Our trading review will go through the firm’s regulations, account options, fees, and customer service options, among other things. Find out whether you should open a Pacific Union live account immediately now.
Pacific Union offers the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading systems. Both are well-known systems that can be downloaded free of charge on PC and desktop computers. Clients can trade directly through all major web browsers without having to install any software because the broker hosts the Web Trader interface. The pacific union forex is regulated and authorized by Cyprus securities and exchange commissions.
Payments from the Pacific Union
Pacific Union offers traders a number of deposit options as well as a variety of base denominations. No fees are charged by the broker for any account financing sources; however, third-party fees may apply.
A fixed amount of $50 is required, with various upper capabilities. The following are the most popular deposit options:
UnionPay – CNY only, with a legal maximum of 50,000 CNY and a processing time of 30 minutes.
Fasapay – exclusively in USD/IND, with a transaction records limit of $75,000 and quick confirmation.
BTC/USDT is the only cryptocurrencies accepted, with no maximum limit and rapid processing.
Payments made locally – changing denominations and maximum limitations, completed in under an hour
Bank Wire Transfer — Accepts all currencies, has no maximum limitation and takes 2-5 business days to process.
VISA and MasterCard credit/debit cards are accepted in all currencies and are accepted instantly.
Electronic Payments – all currencies, fast processing, Captures
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The bulk of withdrawal options with Pacific Union is free, although some do come with a minor fee. Rather than being determined by the broker, this is an external fee. Neteller, for example, imposes a 2% transaction fee on all withdrawals.
The withdrawal limit amount is $40 for all methods, but the amounts vary by kind. Withdrawals of less than $100 will be assessed a $20 or equivalent currency processing fee. The longest possible period for funds to be withdrawn is two to five business days for bank wire transfers. What is social trade: concept of mirroring and copying other traders’ steps?
Features Not Included
Pacific Union offers a variety of analysis software and educational information, which pleased our reviewers. This includes the daily latest news, market information, and instrument advanced analytics. In addition, market research can be found in new video posts. The drawback of pacific union forex is that brokers are considered the worst brokers in the world.
The teaching is diverse; themes are geared at novices, while sophisticated articles are available for those with more expertise. Trading psychology, risk management, commercialization, and indication understanding are among the topics covered.
Supporting video data is also available, as well as visual lectures on important subjects. It’s also encouraging to discover that online seminars given by industry experts are available, as well as a variety of handy resources like an economic calendar, currency converter, and term glossary.
Pacific Union’s so-called “no deposit bonus” of USD 50 for new clients is a fascinating and rather unique feature to note. To get the USD 50, a new client must have their accounts fully verified with a valid ID, according to the broker. Without the trader having to deposit any of his or her own money, the money will be credited to the client’s account.
Furthermore, while the bonus sum cannot be taken, gains earned from trading using the incentive can be withdrawn, subject to such limits. The biggest difficulty with these restrictions is that only quantities between USD 100 and 200 can be transferred. Profits of less than USD 200 will fall below the threshold, while profits of more than USD 200 will go to the broker.
New clients will be asked to choose between two types of brokerage account offered by Pacific Union: a STP-type Standard Account with no commissions and an ECN-type Prime Account with commissions and tighter spreads, before beginning the sign-up process. The Standard Account, for example, features spreads starting at 1.3 pips and a minimal deposit of USD/EUR 50
However, the Prime Account, which requires at least deposit of USD/EUR 1,000, enables trading with gaps as low as 0 pips, a USD 3.5 charge per side (USD 7 per lot), and a USD 3.5 fee per lot.
Pacific Union merchant accounts can be funded with a credit or debit card, a variety of equations are obtained, or the currencies bitcoin and Tether USD once they’ve been created. Moreover, in Russia, South Korea, Vietnam, Indonesia, Malaysia, and the Philippines, local bank transactions can be conducted promptly and for free.