Value for Money
Interested in trying out PremiereTrade? PremiereTrade is an AI Forex trading software that includes a wide range of trading signals and services that have many talking. Can PremiereTrade live up to the hype? Read our review of PremiereTrade now and decide for yourself.
PremiereTrade is an all encompassing, AI forex trading software that now provides a wide range of forex trading signals and services to traders around the world. The company was formed in 2002 and is led by James Dicks. Originally founded as a signal provider and introducing broker, they have grown over the years to become a multi-purpose forex tool and platform that now boasts as many as 600,000 users around the world.
As an ever expanding service, PremiereTrade now houses a wide range of features that can facilitate its users in both trading and education across the entire industry.
A Vast Range of Charts and Technical Indicators
Immediately on signing up for PremiereTrade you will note the vast number of charts and technical indicators that are available through their web-based platform. These different sets of charts include standard professional indicators like Fibonacci, and others you may find on the likes of any top standard trading platform. The offer also includes through several sets of charts which display market signals.
These market signals are displayed in a manner which is very easy to follow and has been intentionally designed in this color-coded, intuitive manner by the founder of the service.
The home screen provides you very user-friendly, app-like access to each category of chart as displayed above and the whole process is very fast and efficient.
Social Trading and Challenges
Beyond covering a wide range of indicators and signals across every asset class to help you make the most informed trading decisions, PremiereTrade also brings a social trading element to users. This is done through both their social trading function allowing you to share your own trades and see others, and particularly through their running of regular trading contests. These are run on a monthly basis and allow you to trade with demo money through the fully-functional program as it would be in a live trading scenario, with the most profitable traders for that period winning real prizes for their efforts. This is a rewarding aspect to the service which has no doubt helped them expand the range of their trader base over the years.
Strong Educational Infrastructure
PremiereTrade appears to recognize the value and need to provide dedicated educational support to their traders. They actively do this through their educational video library which provides a catalogue of videos for you to watch when getting started and definitely helps you improve your knowledge and awareness of how the overall system works.
PremiereTrade Pricing and Availability
PremiereTrade availability is extensive. The service appears to be available to traders in most countries around the world and can be connected with a few of the top forex brokers reviewed by our team previously. These include Oanda, Gain Capital, and TD Ameritrade.
The pricing strategy is not made very clear from the outset by PremiereTrade. This is something of a concern we will note later when discussing the area of transparency for traders.
What is clear is that you can open a demo account for free, and you can also sign up for a 10-day free trial of the live account service. Beyond this, there are questions over the costs that some traders say can reach up to $300 per month.
PremiereTrade stops well short of making any bold claims in relation to guaranteeing returns like some of the other trading services we have reviewed. Instead, they let their long standing record in the industry speak for itself. This includes promoting the profile of their founder and media exposure they have received over the years quite heavily.
This does not come across as too pushy to potential traders, and the company does a good job of outlining the depth of the product and services they offer. This is all well backed up when you do sign up for an account and can see the extensive range of options you are presented with.
As with all forms of trading, there is always an inherent risk with any trading activity that you engage in. This makes it difficult to define precise results and the tools and training provided by PremiereTrade are simply meant to enhance your knowledge of market movements and put you in the best possible position to make profitable moves in forex trading.
To that end of providing the most detailed information possible on each market, PremiereTrade performs well. There are a vast range of charts to analyze and the platform is very easy to use. Some traders have complained that the signals provided are too simplistic and this is also something that we could empathize with after review, though the accessibility of the platform and range of services provided seem to emerge as good value. This is something that reviews in recent years from traders, since a widespread upgrading of the service, also support.
Overall, the results will be up to the interpretation of each trader, though Premieretrade appears to do a solid job in providing a strong range of tools to produce positive results.
Trustworthiness and Support
This is any area of key importance with any top forex broker or service. In terms of trust, traders and users of the PremiereTrade service can certainly take comfort in the many years that the software and trading platform has been offered. They started the business in 2002 so this has given them a long time to curate a positive reputation for the business. Their founder James Dicks also appears to be well-trusted in forex trading circles over many years.
The fact that PremiereTrade also has chosen to partner up with some of the top-named forex brokers who are all well-regulated within the sector also speaks highly of the transparency involved. The only negatives in this regard are that the pricing plans are not made clear to traders, and in terms of customer support, the company could do better.
Support is available but only during the set hours of 8am-5pm Eastern time and only through a few designated phone numbers and email contacts. There does not appear to be any live support chat service available.
Who Should Choose PremiereTrade
PremiereTrade is aimed at all levels of trader. First and foremost it would appear most suited to those who are US-based. This is because of the broker partnerships that the service have formed, and also the fact that the support team are US-based, though it is open to anyone.
From a review perspective, we would be inclined to recommend that intermediate-level traders may be best suited to using PremiereTrade. This is due to the fact that some more experienced traders may deem the signals and charts provided to be too simplistic in nature, whilst a true beginner to forex trading may be somewhat over powered or intimidated by the number of options available. With that said, there is a good library of video education material to direct the way for the less experienced traders.
Conclusions For PremiereTrade
PremiereTrade is certainly a service of long standing reputation and one that seems to have improved significantly with its latest updates. These have brought it to a completely web-based environment and also improved mobile accessibility.
There is general positivity around the transparency of the service throughout the industry and through the media coverage they have received and the depth of analysis and charting are impressive.
The lack of customer support is an area that should be addressed, as is clarity in regard to pricing and the fact that more experienced traders in particular could benefit from a more detailed signal service.
Overall, the service appears to have a lot of followers and certainly to be moving in the right direction with recent advancements in particular.
- Excellent depth of technical charts and indicators for traders.
- The movement toward mobile and web-based has been well-received and there is good effort to involve all traders with social trading elements and contests.
- The company is well-publicised and has been in the industry for a lot of years. This can help to greatly improve trust among traders..
- Some traders have commented that the signals and charting provided by the company are too basic and do not really provide them with an edge in the market.
- The company has relatively few major broker partners considering the length of time they have been involved in the industry.
- Availability and accessibility is poor when compared with others in the sector, and information on pricing is not made clear.