The Seychelles register puts PU Prime at Office 1A. This PU Prime review starts from that room number, not from a marketing spread. On 9 October 2026 the Financial Services Authority's public list of securities dealers named PU Prime Limited, trade name PU Prime, at CT House, Office 1A, Providence, Mahe, with the phone +248 4373668 and the email info@puprime.com. The list does not print a licence number. The same day, a footer paragraph on puprime.com, hidden unless a script treats the visitor as being in Lithuania or Cyprus, placed Seychelles securities-dealer licence SD050 at CT House, Office 9A. Those are different offices. The regulation cards show SD050 and no street line. A comment in that page's source still says Office 1A, which matches the register. The sentence the script can reveal says Office 9A.
Structured data on the homepage, read the same day, still describes regulated entities in Seychelles, Mauritius, South Africa, Australia and the UAE, and a navigation blurb still lists ASIC beside the FSA, the FSC, the FSCA and a UAE capital-markets authority. The regulation cards skip ASIC. The footer that renders for other countries names two companies: PU Prime Ltd, Mauritius investment-dealer licence GB23202672, Suite 201, Level 2, The Catalyst, Cybercity Ebene, and PU Prime LLC, St Vincent registration 271 LLC 2020, Euro House, Richmond Hill Road, Kingstown. Australia is on the exclusion list in that footer. The legal page draws client-agreement links for the Mauritius company and the St Vincent company. The Seychelles agreement and the South African agreement sit in HTML comments, so a browser does not offer them.
Key facts
- FSA Seychelles list, 9 October 2026: PU Prime Limited, trade name PU Prime, CT House, Office 1A, Providence. No licence number on the card. Mr Christos Avgoustinos is listed as a securities dealer representative accredited with that company. Source: fsaseychelles.sc, 9 October 2026.
- Regulation cards, 9 October 2026: SD050 (FSA Seychelles), GB23202672 (FSC Mauritius), 52218 (FSCA), 20200000388 (the page's UAE CMA figure). Street lines on the cards are HTML comments. Source: puprime.com/company/regulation/, 9 October 2026.
- Account-type page, 9 October 2026: Standard minimum deposit $50, spreads from 1.3 pips, commission $0, leverage up to 1:1000, margin call 50%, stop out 20%. Prime $1,000 and $3.5 per side per lot. ECN $10,000 and $1 per side per lot. Cent $20. Source: puprime.com/account-types/, 9 October 2026.
- Costs-page feed, 9 October 2026: EURUSD standard 2.0 pips, prime 0.2, ECN 0.2. Header "Commissions ($ per lot)" prints 7 on Prime and 2 on ECN. Lowest forex standard on the feed was 1.5 pips (USDTWD). No forex row printed 1.3. Source: puprime.com/spread-and-costs/, 9 October 2026.
- Client-funds page, 9 October 2026: cover up to US$1,000,000 per eligible client on insolvency, no extra charge, no opt-in if the client meets the policy test. Certificate not opened. Source: puprime.com/client-funds-insurance/, 9 October 2026.
- St Vincent FSA page, 9 October 2026: product list names LLCs, virtual-asset providers, international insurance, registered agents, mutual funds, trusts and international banks. No forex or CFD dealer category. Source: fsasvg.com, 9 October 2026.
PU Prime review: the footer most people see
Two paragraphs show by default. One is PU Prime Ltd in Mauritius, licence GB23202672, at The Catalyst in Ebene. The other is PU Prime LLC in Kingstown, registration 271 LLC 2020. The copyright line is "© 2026 PU Prime LLC". Privacy and data-protection links point at the LLC documents.
Seychelles is in the file, then switched off. Class Lithuania_current says PU Prime Ltd, Seychelles, securities dealer, licence SD050, CT House, Office 9A, and CSS hides it unless a geo lookup returns LT. Class condition_current says "PU Prime Limited", same SD050 and Office 9A, plus PU Prime (CY) Limited, HE414308, a payment facilitator whose services do not use trading terminals. That block shows for CY only.
A rendered pass of the account-type page and the insurance page showed Mauritius and St Vincent, not the Seychelles address. The four regulation cards are not geo-gated. Open Regulation and Seychelles is there. Read only the footer and it is not, unless the IP test fires.
The photograph is Maeva Tower in Ebene Cybercity. Signage on the tower reads Banque des Mascareignes. It is not The Catalyst, and it is not the FSC. On 9 October 2026 the FSC online public register returned an Incapsula block, so GB23202672 stays the broker's printed number.
Schema calls the legal name "PU Prime Ltd" and names no country. The footer uses that label for Mauritius. The Lithuania-only paragraph uses it for Seychelles. The register, and the Cyprus-only paragraph, say "PU Prime Limited".
Four numbers on the cards, two agreements on the page
The banner says a regulated broker since 2015, overseen by the FSA, the FSCA, the FSC and the UAE authority it labels CMA. The cards underneath are SD050, with a link to the Seychelles securities-dealer tab; GB23202672, with a link to the Mauritius register; FSCA 52218; and the digits 20200000388, split across two spans, with an outbound query of CP-0001633.
That UAE link now lands on uaecma.gov.ae. The HTML returned did not contain CP-0001633 or 20200000388. The FSCA search was not completed here. Treat 52218 and 20200000388 as numbers the broker prints. The Seychelles list did name the firm. It did not print SD050.
Two blocks on the legal page are real links. PU Prime Ltd points at the Mauritius client agreement. PU Prime LLC points at the LLC agreement, plus an addendum filename dated August 2026. Commented out: the FSA agreement under PU Prime Limited, and the South Africa agreement under PU Prime (Pty) Ltd. The PDFs returned a Cloudflare challenge, so no clause from inside a contract is quoted.
The dealer the FSA list names has no rendered download. The Markets.com review turned on the same point: the brand on the banner is not the name on the contract. Here the banner lists more entities than the contract list offers as files.
What the spread table printed on the day
Standard, on the account page: from 1.3 pips, commission $0, minimum deposit $50. Prime: from 0.0, $3.5 per side per lot, minimum $1,000. ECN: from 0.0, $1 per side per lot, minimum $10,000. Cent: from 1.3, minimum $20, commission "No". Each row also lists leverage up to 1:1000, a 50% margin call and a 20% stop-out. Schema writes Prime as "$3.50 per side per lot".
The costs page says the grid is reference only. On 9 October 2026 the feed's EURUSD row was standard 2.0, prime 0.2 and ECN 0.2. Across 55 forex symbols with a standard figure, the lowest was 1.5 pips, on USDTWD.
Nothing in forex printed 1.3.
On the forex tab the header becomes "Commissions ($ per lot)". EURUSD then shows a dash for Standard, 7 for Prime and 2 for ECN. The account page says $3.5 a side and $1 a side. Twice those amounts is 7 and 2, and the costs page never says round turn.
The bars are not one statistic. PU Prime's 2.0 is a reference quote. RoboForex's 1.3 is an average, beside a "spread per lot" cell of $13.00. Pepperstone's 1 and IC Markets' 0.8 are standard minimums. IG's 0.6 is a minimum in a column headed "pts".
| Broker | Entity on that page | Account | EUR/USD | Figure type | Beside the spread |
|---|---|---|---|---|---|
| PU Prime | Row names no company. Footer: PU Prime Ltd (Mauritius) and PU Prime LLC | Standard | 2.0 pips | Reference quote, 9 Oct 2026 | $0 on the account page. Feed prints a dash |
| PU Prime | Same | Prime / ECN | 0.2 / 0.2 | Reference quote | Account page $3.5 and $1 a side. Feed prints 7 and 2 |
| RoboForex | RoboForex Ltd, FSC licence No. 9759600, Belize City | Pro | 1.3 pips | Average | "Spread per lot, $" prints $13.00 |
| Pepperstone | Pepperstone Markets Limited, Bahamas SIA-F217 | Standard | 1 | Minimum | No commission on standard margin FX. A 1 pip markup is also stated |
| IC Markets | Raw Trading Ltd, Seychelles FSA SD018 | Standard | 0.8 | Minimum. AVG cell of 0.1 sits under it, so it is not used as an average | $0 per lot per side on MetaTrader standard |
| IG | IG Markets Ltd, FCA 195355, London | Forex | 0.6 pts | Minimum | Spread table, not a separate commission schedule |
IC's raw book prints a EURUSD minimum of 0 and an average of 0.01. The same page also says an average of 0.1 pips, and states Raw Spread on MetaTrader at $3.50 per lot per side, $7.00 round turn, on a USD account. Pepperstone's Razor minimum is 0. Its platform line is 3.5 US dollars per standard FX lot per side, and the MT4 Razor block had no plain FX row. RoboForex ECN and Prime print an average of 0 and $0.1 under "spread per lot".
The JustMarkets review is a note on raw commission, and the Plus500 review is a different product. Neither supplies a figure in this table. Each number was read on 9 October 2026 from puprime.com/spread-and-costs/, the RoboForex specifications page, pepperstone.com/en/trading/costs-and-fees, ic.com/en/trading-pricing/spreads and ig.com/uk/charges. The PU Prime grid names no company for the 2.0.
A registration number is not a dealer licence
The footer calls PU Prime LLC "registered and authorised" by the St Vincent and the Grenadines Financial Services Authority, registration 271 LLC 2020. The wording is the broker's. The number looks like an LLC formation number, year included.
Read the same day, the FSA international-financial-services page lists business companies, LLCs, virtual-asset providers, international insurance, registered agents, mutual funds, trusts and international banks. A business company needs a licence before it carries on a licensable activity. The examples are mutual funds, international banking and international insurance. Forex and CFDs are absent from the product list, and the page has no sentence this review can quote as a refusal to license forex brokers.
"Authorised" sits next to a registration. The Seychelles card is a securities-dealer entry. Mauritius is printed as an investment-dealer licence. Only the Seychelles name was checked against a register that listed the firm.
Australia is a claim with no number beside it. Schema mentions an entity there and the navigation blurb says ASIC, but no AFSL is on the cards or in the footer, which also excludes Australian residents. An ASIC search was not completed, so this review does not assert that no AFSL exists. HE414308, shown to Cypriot IPs, is a company registration. The page does not call it a CySEC licence.
Insolvency cover, and the 1:1000 maximum
Lloyd's cover on the insurance page runs to US$1,000,000 per eligible client, at no extra cost and with no opt-in. It activates only if PU Prime becomes insolvent. A losing trade is not the event. The certificate was not opened, so this review has no policy number and no syndicate. The cap is the broker's claim.
Every account type lists leverage up to 1:1000, a 50% margin call and a 20% stop-out. Those are the account page's own definitions.
Heavy losses sustained by retail clients trading in highly leveraged CFDs and ongoing market volatility during the COVID-19 pandemic highlight the need for stronger CFD protections in the product intervention order.
Cathie Armour, ASIC Commissioner, said that in media release 20-254MR, display date 23 October 2020. From 29 March 2021 the order capped retail CFD leverage at 30:1 on a major pair for issuers it covers. A five-week sample in March and April 2020, in that release, put the net loss of retail clients at 13 CFD issuers above $774 million. The sample is not PU Prime.
The new measures on CFDs will, for the first time, ensure that investors cannot lose more money than they put in, restrict the use of leverage and incentives, and provide understandable risk warnings for investors.
Steven Maijoor, Chair of ESMA, said that in the 1 June 2018 press release. Major pairs were limited to 30:1. PU Prime's footer says the site is not aimed at Cyprus, and the Cyprus company is outside the trading terminals. The 1:1000 multiple is what the global account page prints. The account page's 20% stop-out and ESMA's close-out rule, 50% of required margin, are different tests.
Verdict
The score on this review is 3.1 out of 5. It scores how clearly a client can see the counterparty. It is not an instruction to open an account or to walk away. A 3.1 fits a firm that is on a real securities-dealer list, prints a second licence number with a street, and then buries the first firm's contract, mismatches the office, and uses "authorised" for a registration.
What holds is concrete. The Seychelles list has the firm, the trade name, Office 1A, a phone, an email and the website. The Mauritius footer has a licence number and a street a client can read without a geo trick. Deposits, commissions, a margin call and a stop-out are stated. The insurance page states a dollar cap and an insolvency trigger.
What does not hold is the map. Office 9A is not Office 1A. SD050 is not on the register page that lists the dealer. The Seychelles agreement is a comment. South Africa's number has no rendered agreement. The UAE search did not echo the number. ASIC is in the schema and not on the cards. "From 1.3 pips" was not on any forex row in the feed, and $3.5 a side is not the same label as 7 per lot.
On 9 October 2026 the live legal page offered PU Prime Ltd and PU Prime LLC, not PU Prime Limited of Providence. A Lithuania or Cyprus IP sees Office 9A. The orange bar mixes a reference quote with minimums and one average, so it is not a ticket-cost ranking. The US$1,000,000 figure is the broker's insolvency cap, policy unread. If the footer, the register and the agreement name one company at one address, 3.1 is the wrong score. On that date, they did not.
Questions
Is PU Prime on a regulator's list?
PU Prime Limited is on the Seychelles FSA list of securities dealers, at CT House, Office 1A, with the trade name PU Prime. The list did not show a licence number on 9 October 2026. The broker prints SD050 on its own card. Mauritius licence GB23202672 is on the website footer. Incapsula blocked that register, so the number was not confirmed there. FSCA 52218 and UAE 20200000388 are the broker's figures, unchecked on those registers here.
Which company is the client agreeing with?
As a browser renders it, the legal page links a Mauritius client agreement under PU Prime Ltd and an LLC agreement under PU Prime LLC, plus an August 2026 addendum on the LLC. The Seychelles agreement and the South African agreement are HTML comments, not links. The PDF text was not retrieved. The contracting party is the name on the file the client accepts. That file is the document to read. The logo is not.
What EUR/USD spread did the site show?
On 9 October 2026 the feed behind the costs page showed EURUSD at 2.0 pips on the standard account and 0.2 pips on Prime and on ECN. The account page says standard spreads from 1.3 pips. No forex symbol on the feed printed a standard spread of 1.3. The page says the grid is reference only. The chart mixes that quote with other brokers' averages or minimums, and the table says which is which.
Does the US$1,000,000 cover trading losses?
The client-funds page says the Lloyd's cover is up to US$1,000,000 per eligible client and is activated only if PU Prime becomes insolvent. It does not describe the policy as paying a losing trade. Eligibility is referred to the policy. The certificate was not opened in this review, so the cap is the broker's stated figure, not a named syndicate or a schedule of exclusions.
Why are there two Seychelles office numbers?
The FSA list says Office 1A. A comment on the broker's regulation page also says Office 1A. The footer sentence shown to Lithuania and to Cyprus says Office 9A, under licence SD050. The rendered cards do not show a street address at all. Until the firm and the register use one office, 9A is not the registered seat of the dealer the FSA lists.
Is the St Vincent company a forex dealer?
The footer calls PU Prime LLC registered and authorised, and gives registration number 271 LLC 2020. The St Vincent FSA's international-services page lists LLCs, insurance, funds, trusts, virtual assets and banks. It does not list a forex or CFD dealer licence. The page does not contain a one-line denial either. The footer number matches a registration, not the shape of SD050 or GB23202672.
This is analysis of public pages and registers read on 9 October 2026, not a recommendation to open, fund or close an account. CFDs can lose more than the initial margin where the contract allows it. Spreads and commissions move. Capital is at risk.