PU Prime Review 2026: FCA Warning, Licences and Costs

PU Prime offers leverage of up to 1:1000 and doubles your first deposit with a bonus. A broker authorised by the FCA may not offer either to a retail client trading CFDs in the UK. That is why it is worth checking which company stands behind the brand, which regulator would be responsible if something went wrong, and why the FCA has put PU Prime on its warning list.

For this review I read PU Prime’s client agreements, the regulators’ registers and the warning lists myself. I did not rely on the broker’s marketing pages, and we did not open an account. You will learn which company you would sign a contract with, what the accounts cost and where the risks are. PU Prime does not accept US residents, so this review is written for readers in the UK and other countries. This article follows our editorial policy.

Risk warning: CFDs are complex instruments, and leverage can make you lose money fast. This review is not investment advice.

PU Prime review in 30 seconds

• Offshore broker without UK authorisation: PU Prime is a forex and CFD broker with licences in Mauritius and the Seychelles. It names no company authorised by the FCA or by a regulator in the EU.
• On the FCA warning list since 2023: The FCA lists “PU prime / Pacific Union (Seychelles) Limited” since 10 May 2023. Regulators in Denmark (2023) and Japan (2024) also warned against PU Prime.
• Offshore conditions: Leverage of up to 1:1000 on every account, a minimum deposit of $50 for the Standard account and a 100% deposit bonus of up to $1,000.
• Market maker by contract: The client agreement allows PU Prime to act as your counterparty and to hold positions against its clients.
• Trustpilot has suspended the score: The rating is hidden because of a guideline breach, and Trustpilot says it removed fake reviews.

What is PU Prime?

PU Prime is an international forex and CFD broker that runs several companies under one brand, in Mauritius, the Seychelles and St. Vincent and the Grenadines among others.

The name goes back to the former company name Pacific Union. The warnings of the British and the Danish regulators still name Pacific Union (Seychelles) Limited. Your contracting party is always the company named in your client agreement, not the brand.

PU Prime offers CFDs only. According to the broker, you can trade more than 1,000 instruments on currencies, metals, indices, commodities, shares, ETFs and bonds, plus synthetic indices, which are simulated markets without a real underlying asset. You cannot buy real shares at PU Prime.

Topic	PU Prime at a glance
Trading companies named on the website	PU Prime Ltd (Mauritius), PU Prime LLC (St. Vincent and the Grenadines), PU Prime Limited (Seychelles)
Regulators	FSC Mauritius, FSA Seychelles; no UK or EU regulator
FCA	On the warning list since 10 May 2023
Other warnings	Finanstilsynet (Denmark), Kanto Finance Bureau (Japan)
Leverage	Up to 1:1000
Platforms	MT4, MT5, PU Web Trader, PU Prime App
Copy trading	Yes, in the app
US residents	Not accepted

Which PU Prime company would you contract with?

The website footer names three companies that offer trading and two service companies. Which of them would hold the account of a UK client, we could not verify without opening an account. Before you sign, read the full company name in the client agreement you are offered. The client agreements are on PU Prime’s Legal Documentation page, and they differ in one important point: supervision.

PU Prime Ltd: licensed by the FSC Mauritius

The first company holds a licence from the financial regulator of Mauritius. In the register of the Financial Services Commission, PU Prime Ltd is listed since 19 January 2024 as an Investment Dealer (Full Service Dealer excluding Underwriting), licence number GB23202672. Mauritius has its own regulator, but its rules are not the UK rules for retail CFD clients.

PU Prime LLC: registered, not supervised as a broker

The second company is not supervised as a broker at all. PU Prime LLC is registered in St. Vincent and the Grenadines under number 271 LLC 2020. Its own client agreement states that the local financial authority does not regulate, monitor, supervise or license providers of margin FX and CFDs. The agreement is governed by the law of St. Vincent, and the copyright line of the website names this company.

PU Prime Limited: securities dealer in the Seychelles

The third trading company is a securities dealer in the Seychelles. PU Prime Limited is listed in the register of the FSA Seychelles; PU Prime gives its licence number as SD050. The FCA warning names Pacific Union (Seychelles) Limited, the earlier name of the brand in the Seychelles. PU Prime’s regulation page also names licences in South Africa and the United Arab Emirates, which we did not check in those registers.

Two service companies in the UK and Cyprus

A UK company in the footer does not mean a UK licence. P.U.P Integrated Services Limited is incorporated in the United Kingdom under number 17424116. According to PU Prime’s own footer, it provides services such as payment services and “does not offer regulated financial products or provide trading services”. PU Prime (CY) Limited in Cyprus has the same role. Neither is your broker.

Is PU Prime regulated in the UK?

PU Prime is not authorised by the FCA. None of the companies named on its website is described as FCA-authorised, and the FCA itself has listed the brand as an unauthorised firm since 2023. The footer’s list of restricted regions names the United States, Canada, Australia, Cyprus and others, but did not name the United Kingdom when we checked it on 29 October 2026.

The FCA warning: what it says

The FCA says the firm is not authorised and may be targeting people in the UK. The FCA warning for “PU prime / Pacific Union (Seychelles) Limited” was first published on 10 May 2023 and last updated on 20 April 2026. It lists several websites, among them puprime-uk.com, and advises you to avoid dealing with the firm.

The warning names two consequences for UK clients. If you deal with the firm, you have no access to the Financial Ombudsman Service for complaints. You are also not protected by the Financial Services Compensation Scheme (FSCS) if things go wrong, so the FCA says you are unlikely to get your money back if the firm fails. The warning does not say that PU Prime is a fraud; it says that the firm has no permission in the UK.

Warnings in Denmark and Japan

Two other regulators issued public warnings for the same reason: business without a local licence.

• Finanstilsynet, Denmark: The warning of 30 May 2023 states that PU Prime marketed investment services to Danish clients without a licence and without a notification from another European regulator. According to the regulator, the marketing ran through Danish-speaking finfluencers.
• Kanto Finance Bureau, Japan: The regional bureau of Japan’s Ministry of Finance warned against PU Prime Limited on 26 December 2024 for doing business in Japan without registration.

How safe is your money at PU Prime?

The statutory protection that a UK client of an FCA-authorised broker has does not apply at PU Prime. Instead, PU Prime points to an insurance policy with Lloyd’s of up to $1 million, whose certificate is issued to the Mauritius company, and to the compensation fund of the Financial Commission. The Financial Commission is a private dispute-resolution organisation funded by its member brokers, not a regulator.

Segregated client money has its limits too. The client agreement of PU Prime LLC says itself that segregation does not fully protect your money against loss. Client money can sit in a pooled account, and PU Prime keeps the interest on it.

The table compares the protection for retail CFD clients. The FSCS does not replace trading losses. It can step in when an authorised firm fails and client money is missing, and its scope depends on the claim.

Retail CFD client	FCA broker	PU Prime
Broker fails	FSCS can apply	No FSCS, only private cover
Account below zero	Loss limited to the account	Credit, but no promise
Leverage, major pairs	At most 30:1	Up to 1:1000
Deposit bonus	Not allowed	Up to 100%
Disputes	Financial Ombudsman Service	A private body

The difference on negative balances matters most. For an FCA-authorised firm, COBS 22.5.17R in the FCA Handbook limits a retail client’s loss to the funds in the CFD account. PU Prime’s LLC agreement only promises safeguards under “normal market conditions”. If a price gap pushes your account below zero, PU Prime “at its discretion, may credit” the amount.

Is PU Prime a market maker?

According to its own client agreement, PU Prime may act as a market maker and hold positions against its clients. Clause 14 of the agreement of PU Prime Ltd states that the broker may act as a market maker in forex and CFDs and may hold positions that are contrary to those of its clients. PU Prime itself writes that this can create a conflict of interest.

Whether PU Prime actually keeps its clients’ orders in house cannot be measured from the outside. Traders call that model the B-book. The contract only says it is allowed. The gold addendum of PU Prime LLC also allows hedging in the market, but does not oblige the broker to hedge every client trade on a one-to-one basis. How a market maker earns money and sets your price is explained in a separate guide.

PU Prime account types and costs

PU Prime offers four account types that differ mainly in the minimum deposit and the fee model. In the Standard account the cost sits in the spread; in the Prime and ECN accounts you pay a commission per lot. The figures come from PU Prime’s account types page in German on 29 October 2026; the international site showed a bot check when we tried to open it.

Account	Minimum deposit	Spread and commission
Standard	$50	From 1.3 pips, no commission
Prime	$1,000	From 0.0 pips plus $3.50 per side and lot
ECN	$10,000	From 0.0 pips plus $1 per side and lot
Cent	$20	From 1.3 pips, account in US cents

In the Prime account, one lot costs $7 in commission for the round trip, plus the spread. In the Standard account, 1.3 pips on EUR/USD come to about $13 per lot, and that is the minimum, not the average. GBP is one of the account currencies. According to PU Prime, deposits and withdrawals are free, but you pay your own bank’s charges.

One line in the screenshot stands out: leverage of up to 1:1000 in every account type. The same limit applies in the Cent account, which PU Prime recommends to beginners. The margin call comes at 50%, the stop-out at 20%.

What does 1:1000 leverage mean for your account?

Leverage of 1:1000 means that $1 of margin moves a position worth $1,000. For a UK retail client of an FCA-authorised firm, the initial margin on major currency pairs is at least 3.33% of the position, which is 30:1; on gold, major indices and minor pairs it is 5%, or 20:1 (COBS 22.5.11R). In the EU, the same limits apply under the rules of ESMA. How to size a trade from your stop instead of from the margin is explained in our guide to position sizing.

A simple example shows how fast an account can be gone. With $1,000 in the account and full leverage, you open a position of $1 million on USD/JPY, which is 10 lots. The stop-out comes at a 20% margin level, so at $200 of remaining equity. Simplified, without spread, costs and slippage, a move of about 0.08% against you is enough to reach that level. Closing then starts at the current market price, so the amount left can also be below $200.

The leverage comes from depositing only a fraction of the position value as collateral. It is not a loan paid out to you. Under FCA rules, an authorised firm must close a retail client’s positions once the equity falls to 50% of the required margin (COBS 22.5.13R). At PU Prime the stop-out comes later, at 20%, so more of your deposit can be lost before positions are closed.

PU Prime deposit bonus and other promotions

PU Prime doubles your first deposit up to $1,000 and adds 20% to further deposits, up to $9,000. The broker’s own example shows what the bonus is for: with bonus and 1:1000 leverage, you are meant to trade 14 lots instead of 7.

The bonus mainly makes your positions bigger, not your cushion. PU Prime also advertises cashback of $500 per $1 million of trading volume and a programme called “13% p.a.” growth of funds that is tied to weekly trading targets. An FCA-authorised firm may not offer a retail CFD client any monetary incentive, and the FCA Handbook names account-opening bonuses as an example (COBS 22.5.20R and 22.5.21G).

Platforms and copy trading

You trade on MetaTrader 4, MetaTrader 5, a web trader and the PU Prime App. Expert Advisors, automated trading programmes, run in all account types. Copy trading runs in the app and is available in every account.

Copied positions can be highly leveraged too. According to PU Prime’s copy trading terms, your actual result depends among other things on the capital you allocate, the position size, your account settings and the execution, and it can differ clearly from the signal provider’s result. The terms also say that a fee applies and refer to the fees of the underlying products.

How do PU Prime withdrawals work?

According to its policy, PU Prime generally processes withdrawals within 24 hours. Depending on the method, it takes 1 to 7 business days until the money arrives, and at least 3 to 5 for a bank wire. Your account must be fully verified.

PU Prime pays back to the original payment source. If you deposited by card, the money goes back to the same card up to the amount of the deposit. If that route is no longer available, the policy allows exceptions, preferably a transfer to an account in your own name. PU Prime may ask for proof of the source of funds and may refuse a withdrawal that would leave too little free margin for open positions.

PU Prime reviews: what Trustpilot shows

On Trustpilot, PU Prime’s score is suspended. Instead of a rating, the portal shows a notice that the rating is not available because of a breach of its guidelines. Trustpilot also writes that it detected and removed fake reviews for the company, and it notes regulatory attention.

The remaining votes are split into two camps. Of 1,876 reviews on the Trustpilot profile (as of 29 October 2026), 54.6% give five stars and 39.7% give one star. The ratings in between add up to less than 6%. On its own website, PU Prime advertises an average rating of 4.5.

We did not open an account for this review. So I can neither confirm nor refute what single reviews say about withdrawals. What holds up are the contracts, the registers and the regulators’ warnings, and this review is based on them.

Pros and cons of PU Prime

PU Prime’s strengths are its platforms and the low entry point; its weaknesses are the protection of your money. The two lists sum up what I found in the contracts, the registers and on the website.

Pros

• Platforms: MetaTrader 4, MetaTrader 5, a web trader and its own app
• Low entry: minimum deposit from $50, Cent account from $20
• Copy trading: built into the app, in every account
• Licence: FSC Mauritius since January 2024, confirmed in the register

Cons

• No UK authorisation: not authorised by the FCA, no FSCS, no Financial Ombudsman Service
• Warnings: regulators in the UK, Denmark and Japan
• Leverage and bonus: up to 1:1000 and 100%, both push you towards large positions
• Contract: market maker allowed, negative balances credited only at its discretion
• Trustpilot: rating suspended for a guideline breach

Moneta Markets and PU Prime: the same address

Moneta Markets and PU Prime share a business address in Mauritius. Both give Suite 201 in The Catalyst building in Ebene. Neither broker names a common parent company, and we found no proof of one.

How to check a broker before you open an account

Look up the exact company in your contract, not the brand. In the UK, the FCA’s Financial Services Register shows whether a firm is authorised, and the warning list shows firms the FCA has flagged. An authorised firm has a firm reference number (FRN) that you can check yourself.

For a broker with a UK company under FCA supervision, see our Interactive Brokers review. There, too, what counts is the company that holds your account. With a UK-authorised CFD broker you get the leverage limits, negative balance protection and access to the Financial Ombudsman Service described above.

Conclusion: who PU Prime suits

For UK retail traders, PU Prime is a broker without the UK safety net. The platforms are solid and the entry is cheap. But leverage of 1:1000, the bonus and a contract that allows the broker to be your counterparty are the exact combination that the FCA rules for retail CFD clients have been designed to prevent since 2019.

I have traded since 1980, and position size decides more than any entry. A broker that gives you the same capital again on your deposit, so that you can trade positions twice as large, does not solve that problem; it makes it worse. Anyone who still trades at PU Prime should only use money they can afford to lose completely and limit the leverage themselves.

We have no partnership with PU Prime. This review contains no affiliate link, and PU Prime has not paid for it.

Frequently asked questions about PU Prime

Is PU Prime regulated by the FCA?

No, PU Prime is not authorised by the FCA. The FCA has listed “PU prime / Pacific Union (Seychelles) Limited” on its warning list since 10 May 2023. The broker works with licences from Mauritius and the Seychelles.

Is PU Prime legit or a scam?

There is no proof of fraud, but there are clear warning signs. The FCA, the Danish regulator and a Japanese authority warn against PU Prime because it approached clients there without a licence. Trustpilot has suspended the rating because of a guideline breach.

Am I protected by the FSCS if I trade with PU Prime?

No, the FCA warning says you would not be protected by the FSCS. You would also have no access to the Financial Ombudsman Service. PU Prime points to a private insurance policy with Lloyd’s of up to $1 million and to the fund of the Financial Commission, a private body.

What is the minimum deposit at PU Prime?

The Standard account starts at $50. The Cent account starts at $20, the Prime account at $1,000 and the ECN account at $10,000.

How long does a PU Prime withdrawal take?

PU Prime generally processes withdrawals within 24 hours, according to its policy. Depending on the method, it takes 1 to 7 business days until the money arrives. Withdrawals generally go back to the payment method you used to deposit.

Can US residents open an account with PU Prime?

No, PU Prime’s website says its products are not intended for residents of the United States. The restricted regions also include Canada, Australia, Singapore and Cyprus, among others.

Are PU Prime and Moneta Markets the same company?

Only a shared business address in Mauritius is documented. Both brokers give Suite 201 in The Catalyst building in Ebene. Neither names a common parent company.