Risk Warning
Online trading can be risky, and you carry a possibility of losing all of your investment capital. Not all traders and investors are suited for it. Please be aware that the material on this page is just meant to serve as general information, and you should make sure that you are aware of the risks. General Information
What is Pacific Broker？
Pacific Brokers is an unregulated brokerage firm founded in 2010 and based in London, UK. It claims to offer various market instruments such as Forex, futures contracts, options, ETFs and forwards. The company offers trading services through the widely used MT4 platform and offers different account types with different minimum deposit requirements and leverage options.
In the article that follows, we'll look at this broker's qualities from a number of perspectives and provide you with structured, clear information. If you are interested, please read on. We'll also include a brief summary at the end of this paper to assist you rapidly understand the broker's qualifications.
Pros & Cons
Pacific Broker Alternative Brokers
There are many alternative brokers to Pacific Broker depending on the specific needs and preferences of the trader. Some popular options include:
eToro - offers a user-friendly interface and a wide range of trading instruments, a good choice for beginners and those interested in social trading.
Interactive Brokers - With its advanced trading tools, competitive pricing, and extensive range of global markets, Interactive Brokers is recommended for experienced traders who require a robust and customizable trading platform.
TD Ameritrade - Known for its comprehensive research offerings, educational resources, and a user-friendly trading platform, TD Ameritrade is a solid choice for investors seeking a combination of investment guidance and self-directed trading options.
Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.
Is Pacific Broker Safe or Scam？
Pacific Brokerage has years of experience in the industry, which may indicate a level of stability and knowledge, but it is important to note that experience alone does not guarantee the legitimacy or security of a brokerage firm. The lack of effective regulation is a red flag that should not be ignored.
Market Instruments
Users of Pacific Broker have access to a wide variety of market instruments. This includes Forex, which allows trading in the foreign exchange market, providing access to various currency pairs for speculation and investment. Major currency pairs like EUR/USD, GBP/USD, or USD/JPY, as well as minor and exotic currency pairs, are all available for trading.
Clients of Pacific Broker have the opportunity to trade futures contracts, which are agreements to buy or sell assets at a predetermined price and date in the future. Futures contracts can provide investors with the ability to gain exposure to a wide range of assets, manage risk, and potentially generate profits based on their market expectations.
Pacific Broker also offers options trading, which enables clients to enter into contracts granting the right to buy or sell assets at a specified price within a specified time frame.Moreover, Pacific Broker allows clients to trade Exchange Traded Funds(ETFs), which are investment funds traded on a stock exchange and represent a diversified portfolio of assets.
Finally, clients can choose to participate in forward contracts, which are agreements to buy or sell assets at a predetermined price at a specific date in the future.Over 35 instruments, including those for currencies, indexes, metals, and commodities, are available to clients. Take advantage of global market changes at any hour of the day or night.
Accounts
Pacific Broker offers traders a variety of account types to choose from. The Mini account is designed for traders who prefer to start with a lower initial investment. It has a minimum deposit requirement of $1, making it accessible to those with limited capital.
The Standard account is designed for traders who prefer traditional trading conditions. It has a minimum deposit requirement of $10,000 and allows traders to access the full range of trading instruments offered by the broker. The SVIP account is tailored for traders with a higher level of investment. It requires a minimum deposit of $30,000. This account type typically offers premium features and benefits, such as lower spreads, priority customer support, advanced trading tools, and potentially access to exclusive research or analysis.
The EA (Expert Advisor) account is designed specifically for automated trading strategies. It requires a minimum deposit of $100. Traders who utilize automated trading systems or employ trading robots (EAs) can opt for this account to execute their strategies automatically.The SSVIP (Super VIP) account is another high-tier account option with a minimum deposit of $10,000. While specific details may vary, SSVIP accounts typically provide premium services and personalized support to cater to the needs of high net worth individuals or institutional traders.
Leverage
Pacific Broker provides traders with varying levels of leverage depending on the types of accounts. For Mini account, the broker offers leverage up to 1:1000. Leverage allows traders to control larger positions in the market with a smaller amount of capital. A leverage of 1:1000 means that for every $1 of available capital, traders can open a position worth up to $1000.
When it comes to Standard account, Pacific Broker offers leverage up to 1:500. With a leverage of 1:500, traders can control positions that are up to 500 times the size of their account balance.For SVIP account, Pacific Broker provides leverage up to 1:300. Traders with an SVIP account can utilize up to 300 times their account balance in trading volume.
The EA (Expert Advisor) account has a maximum leverage of 1:1000. This allows traders to control a trading position up to 1000 times the size of their account balance when using automated trading strategies.The SSVIP (Super VIP) account provides a maximum leverage of 1:100. Traders with an SSVIP account can leverage their trading positions up to 100 times their account balance.
While leverage might boost prospective profits, it also increases the danger of loss. When using leverage, traders should be cautious and properly control their risk. Before trading with high leverage ratios, it is necessary to have a solid understanding of leverage and its repercussions.
Spreads & Commissions
Pacific Broker offers competitive spreads and commissions to its traders. The spread for the MINI account starts from 0.5 pips. This means that the difference between the bid and ask price for currency pairs, or other tradable instruments, can be as low as 0.5 pips.On the other hand, the spread for the Standard account starts from 0.3 pips. Traders with a Standard account can benefit from tighter spreads compared to the MINI account, potentially leading to lower trading costs.
The spread for the SVIP account starts from 0.1 pips. This account type offers the tightest spreads among the mentioned account options, providing traders with highly competitive pricing on their trades.
Pacific Broker intends to offer VPS (Virtual Private Server) support for EA (Expert Advisor) accounts. VPS support can be beneficial for traders using automated trading strategies, as it provides a stable and reliable connection to the trading platform, allowing EAs to run uninterrupted.Pacific Broker has plans to introduce team support and signal support for SSVIP (Super VIP) accounts. Team support suggests that clients with SSVIP accounts will have access to a dedicated team of professionals who can assist them with various aspects of trading. Signal support indicates that SSVIP account holders may have access to trading signals or recommendations to aid their decision-making.
It's important to note that spread values can vary depending on market conditions, liquidity, and the specific instruments being traded. Traders should also consider other factors such as commissions, slippage, and execution quality when evaluating the overall cost of trading with Pacific Broker.
While these support features may enhance the trading experience for EA account holders and SSVIP account holders, it's important to note that the specific details, availability, and functionality of these features may be subject to change and would need to be confirmed with Pacific Broker directly or by referring to their official announcements or documentation.
Below is a comparison table about spreads and commissions charged by different brokers:
Please keep in mind that spread values can vary depending on market conditions, account type, and other factors. Commission structures may also differ based on the broker's pricing model and the type of account being used. It's important to review the official websites or contact brokers directly for the most accurate and up-to-date information on spreads and commissions.
Trading Platforms
Pacific Broker provides traders with the popular MetaTrader 4 (MT4) trading platform. MT4 is a popular and widely recognized trading platform known for its user-friendly interface and robust features. It provides traders with access to a range of financial instruments, including Forex, indices, commodities, and more. MT4 offers advanced charting capabilities, technical analysis tools, customizable indicators, and the ability to automate trading strategies using Expert Advisors (EAs). Traders can also execute trades, manage orders, and monitor market conditions in real-time using MT4.
See the trading platform comparison table below:
Trading Tools
Pacific Broker provides a variety of trading tools to assist its clients.Pacific Broker offers an Economic Calendar, which provides traders with important information about upcoming economic events, news releases, and key economic indicators. This tool helps traders stay informed about potential market-moving events, allowing them to make more informed trading decisions.
In addition, traders can estimate their possible profit or loss from a deal using the profit calculator provided by Pacific Brokers. A trader is able to assess the potential profitability of a transaction before executing it by entering information such as trade size, entrance price, and exit price.
The Margin Calculator is also a tool provided by Pacific Brokers to help traders determine the margin required to open or maintain a position. By entering information such as the instrument and the size of the trade required, the Margin Calculator calculates the required margin and gives traders an idea of their leverage and risk exposure.
Finally, Pacific Brokerage offers a pip value calculator to assist traders in calculating the pip value of various currency pairs. By entering the trade size and the currency pair being traded, the pip calculator helps traders understand the currency value of each pip move, which is important for risk management and position sizing.
Deposits & Withdrawals
Pacific Broker offers traders a convenient and straightforward process for depositing and withdrawing funds. The broker accepts payments through various methods, including wire transfer, Skrill, OKPAY, Perfect Money, VISA and MasterCard.
The base currencies that Pacific Broker supports include USD, GBP, EUR, AUD, and NZD. This allows traders to select their chosen base currency for their trading accounts, which can help them manage their trading activity and reduce currency conversion costs.
Pacific Broker minimum deposit vs other brokers
The minimum deposit requirement is $1(Mini), allowing traders with different capital levels to start trading.
Customer Service
Pacific Broker offers customer service 24/7 through a phone number, +44 9153758643, and an email address, support@pacific-fx.com, and online messaging. You can also follow this broker on some social networks including Twitter, Facebook, Instagram and YouTube.
Overall, Pacific Brokers customer service is considered reliable and responsive, with various options available for traders to seek assistance.
It's important to note that the pros and cons listed above are based on the information provided and general considerations for customer service. Actual experiences with Pacific Broker's customer service may vary, and it's advisable to reach out to them directly or seek feedback from existing clients for a more accurate assessment of their customer support capabilities.
Conclusion
According to available information, Pacific Brokers is a United Kingdom-based brokerage firm that was established in 2010. While the firm has significant experience in the industry and offers a range of market instruments such as Forex, futures contracts, options, ETFs and forwards, it is important to consider certain factors that the absence of valid regulation may raise concerns. Therefore, it is crucial for potential clients to exercise caution, conduct thorough research, and seek up-to-date information directly from Pacific Broker before making any investment decisions.
Frequently Asked Questions (FAQs)
