Switch Markets vs PU Prime

Switch Markets vs PU Prime Comparison Table 2024
Switch Markets PU Prime
3.3
4.2
United States Flag Traders from US not accepted
United States Flag Traders from US not accepted

Switch Markets is a multi-asset CFD brokerage, regulated by ASIC and SVGFSA. The new brand offers trading on the MT4 platform and leverage up to 1:500. The broker boasts over 180 instruments, with some additional tools including copy trading services and free VPS hosting.

Pacific Union Prime is an FSCA and offshore-regulated multi-asset broker offering competitive fees and direct market access on forex, commodities, stocks, bonds and indices. The broker supports the popular MetaTrader 4 and MetaTrader 5 platforms and a proprietary mobile app. Fees vary by account type with no commission and spreads from 1.9 pips on the Standard account and $7 commission per lot and spreads from 0.4 pips on the Prime account.

Bonus Offer
100% Deposit Bonus $50 No Deposit Bonus
Promotions

PU Prime: Claim A 50% Bonus Up To $10,000

Comment by Reviewer
"Based on my tests, I think Switch Markets could be a good option for both new and experienced day traders, with accessible accounts, zero commissions and spreads from 0 pips. My main complaint is that the selection of 180+ products may be a little light for some traders." "PU Prime will appeal to traders seeking high leverage and low fees in a direct-to-market trading environment."
Pros
  • Switch Markets offers access to a decent range trading tools including a market sentiment heatmap, an economic calendar and a VPS. I particularly appreciate the diverse range of forex calculators
  • I found 14 accessible deposit options and 5 base currencies. The impressive average processing times of 1 minute and 2 seconds should also appeal to active traders
  • I am impressed by the complimentary access to the HowToTrade education resources, community chatroom and market analysis for just a $100 deposit
  • Traders can access copy trading solutions via the MetaTrader Trading Signals tools and duplicate positions of experienced traders in real-time
  • I think the $50 minimum initial deposit for both account types is very competitive compared to some other brands
  • Industry-recognized MT4 and MT5 platforms and mobile apps
  • Good range of assets with nearly 1000 instruments over six asset classes
  • Competitive fees with the Prime account spreads starting at 0.4 with a $7 commission
  • Safeguards clients with segregated funds and negative balance protection
  • PU Social app with copy trading capabilities
  • Demo account with virtual funds
  • Swap-free Islamic account
  • Multilingual customer service
Cons
  • I'm a little concerned that the global entity is regulated offshore by the SVGFSA, a low-tier watchdog with very limited financial protection for clients
  • Spreads are not the most competitive for Standard account holders in my opinion, averaging 1.5 pips on EUR/USD
  • No tier 1 regulatory oversight
  • Relatively high $40 minimum withdrawal and handling fee for withdrawals under $100
  • Standard account spreads are mediocre
Instruments
CFDs, Forex, Stocks, Cryptos, Commodities Forex, Commodities, Cryptocurrencies, Stocks, Indices
Demo Account
Yes Yes
Minimum Deposit
$50 $50
Trading Platforms
  • MT4
  • MT4
  • MT5
Payment Methods
Minimum Trade
$1 0.01 Lots
Regulator
ASIC FSA (Financial Services Authority of Seychelles), FSCA (Financial Sector Conduct Authority), SVGFSA (Financial Services Authority St Vincent & The Grenadines)
Margin Trading
Yes Yes
STP Account
No Yes
ECN Account
No Yes
DMA Account
No No
MAM Account
No No
PAMM Account
No No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
Yes No
Market Maker
Yes No
P2P Trading
No No
Spot Trading
Yes No
Mobile Apps
iOS & Android iOS & Android
Auto Trading
Yes - Equinix
Copy Trading
Yes Yes
Copy Trading Platform
Switch Markets offers copy trading services with low fees via the MetaTrader 4 terminal. PU Social enables clients to mirror the positions and strategies of expert traders. The app is available on iOS and Android devices and features a social investing network with thousands of traders.
Social Trading
Yes Yes
Trade Signals
MT4 None
VPS Hosting
Yes No
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Islamic Account
Yes Yes
Account Currencies
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • NZD
  • CHF
  • SGD
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • NZD
  • JPY
  • HKD
  • SGD
Stock Exchanges
Commodities
CFD Trading
Switch Markets offers 180+ CFD instruments with 1:500 leverage and fast order execution speeds of PU Prime offers CFD trading on hundreds of shares, as well as indices, commodities, bonds and cryptocurrencies. The leverage available varies by asset, and spreads also vary greatly between instruments and account types with the tightest near zero and the widest in the hundreds of pips. Stock, index, commodity and bond CFDs are traded on the leading MT4 platform.
Leverage
1:500 1:500
FTSE Spread
1.2 Not Available
GBPUSD Spread
0.5 From 0.5 pips
Oil Spread
2.0 From 1.6 pips
Stocks Spread
Variable Variable
Forex Trading
I think the range of 60+ major, minor and exotic currency pairs is fairly competitive, especially with spreads from 0 pips in the Pro account. Experienced traders can also access high leverage up to 1:500 in the popular MT4 platform. PU Prime clients can trade 40+ forex pairs via the MT4 and MT5 platforms with dynamic leverage up to 1:500. Spreads start from near zero on Prime accounts, which also charge a $7 commission per lot, and a zero-commission Standard account with wider spreads is also available.
GBPUSD Spread
0.5 From 0.5 pips
EURUSD Spread
0.1 From 0.2 pips
EURGBP Spread
0.6 From 0.4 pips
Assets
60+ 800+
Cryptocurrency
There's only 6 crypto CFDs available at Switch Markets, though I was pleased to see leverage of 1:3 available. I like that you can also benefit from BTC, ETH, XRP, USDT and USDTRC20 deposit options. Pacific Union offers leveraged cryptocurrency trading against the US Dollar. Spreads are tight and updated in real-time. Traders can analyze crypto markets using powerful trading software.
Spread
Variable From 0.7 pips
Coins
  • BTC
  • ETH
  • LTC
  • XRP
  • BTC
  • BCH
  • ETH
  • LTC
  • EOS
  • XLM
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
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