Charter Prime
Velocity Trade
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Overview
Charter Prime was founded in 2012 and is headquartered in Australia, while Velocity Trade was established in 2007 and is based in Australia. Charter Prime holds licences including Financial Conduct Authority (FCA), while Velocity Trade is regulated by Australian Securities & Investment Commission (ASIC) among others. Charter Prime serves 10,000+ clients worldwide; Velocity Trade has 10,000+. The minimum deposit is $200 at Charter Prime and $1 at Velocity Trade.
| Feature | Charter Prime | Velocity Trade |
|---|---|---|
| Min. Deposit | $200 | $1 |
| Regulation | Financial Conduct Authority (FCA) | Australian Securities & Investment Commission (ASIC), BaFIN (German Federal Financial Services Authority ID: 10159853), Financial Markets Authority (FMA) of New Zealand, Financial Sector Conduct Authority of South Africa (FSCA) FSP No. 43295, Financial Conduct Authority (FCA Registered Number 497263) |
| Founded | 2012 | 2007 |
| Country | Australia | Australia |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Charter Prime and Velocity Trade, directly affecting your bottom line as a trader. Velocity Trade has a lower barrier to entry with a minimum deposit of $1 (vs $200 at Charter Prime). Neither broker charges withdrawal fees. Velocity Trade applies inactivity fees on dormant accounts; Charter Prime does not. Charter Prime charges deposit fees; Velocity Trade does not. Overall, Velocity Trade scores higher on fees in our assessment.
| Feature | Charter Prime | Velocity Trade |
|---|---|---|
| Min. Deposit | $200 | $1 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | Yes |
| Deposit Fees | Yes | No |
| CFD Fees | Yes | No |
Platforms
Charter Prime offers MT4, MT5, cTrader, while Velocity Trade supports MT4. Both brokers provide mobile trading apps for iOS and Android. Charter Prime supports social and copy trading features, which Velocity Trade does not offer. Charter Prime edges ahead on platform breadth and functionality in our scoring.
| Feature | Charter Prime | Velocity Trade |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | No |
| cTrader | Yes | No |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | MetaTrader 4 | MT4, Mobile Apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Charter Prime and Velocity Trade compare. Both brokers run regular live webinars. Both provide video tutorials, including advanced content. Daily market commentary is available from both brokers. Both integrate third-party research tools including Trading Central. Archived webinars are available at both brokers for self-paced learning. The two brokers are evenly matched on educational content.
| Feature | Charter Prime | Velocity Trade |
|---|---|---|
| Forex Education | Yes | Yes |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| Autochartist | Yes | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Charter Prime accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while Velocity Trade supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | Charter Prime | Velocity Trade |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | No |
| Skrill | No | No |
| Neteller | No | No |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both Charter Prime and Velocity Trade offer live chat support. Both provide phone support. Email support is available at both brokers. Both brokers offer support in 2 languages. Both brokers are comparable on support quality.
| Feature | Charter Prime | Velocity Trade |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |