Pacific Union is a forex broker located in the Seychelles, regulated by the Seychelles Financial Services Authority (SFSA).
Pacific Union accepts clients from all over the world, excluding USA, Singapore, Australia, Iran, Cuba and some other countries where FX trading is restricted or prohibited.
Forex broker offers the following underlying assets for trading.
|35+ Currency Pairs||Based on major and minor world currencies.|
|6 Crypto Pairs||Based on Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Stellar, EOS.|
|6 Indice CFDs||Based on baskets of different blue-chip stocks.|
|3 Metal CFDs||Based on Gold, Silver and Copper.|
|4 Energy CFDs||Based on Crude Oil (WTI, Brent), Gasoline and Natural Gas.|
|5 Soft CFDs||Based on Cocoa, Coffee Arabica, Cotton, Orange Juice, Sugar Raw.|
|50+ Stock CFDs||Based on shares of most famous US companies.|
An offshore forex broker operating out of the Seychelles, Pacific Union offers trading in nearly all commonly traded assets on the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) desktop or web-based platforms. The broker was set up back in 2015, and is regulated by the Seychelles Financial Services Authority (SFSA).
An interesting and quite unique thing to take note of about Pacific Union is the USD 50 so-called “no deposit bonus” it offers to new clients. According to the broker, all a new client will need to do to receive the USD 50 is to have their accounts fully verified with a valid ID. The money will then be credited to the client’s account, without the trader having to deposit any of his or her own money. And although the bonus amount cannot be withdrawn, profits made from trading with the bonus can be withdrawn, subject to certain restrictions. Among these restrictions, the main issue is that only amounts between USD 100 and 200 can be withdrawn. Any profits less than that will be below the minimum amount, while any profits exceeding USD 200 will accrue to the broker.
Before the sign-up process starts, new clients will be asked to choose between the two types of trading accounts that are offered by Pacific Union; a STP-type Standard Account without commissions and an ECN-type Prime Account with commissions and tighter spreads. Specifically, the Standard Account has spreads that start from 1.3 pips and a minimum deposit of USD/EUR 50. Meanwhile, the Prime Account offers trading with spreads from 0 pips, with a USD 3.5 commission per side (USD 7 per lot), and is available for a minimum deposit of USD/EUR 1,000. Both account types offer up to 1:500 in leverage, which is pretty much in line with the industry standard for offshore-registered forex brokers.
Once opened, trading accounts with Pacific Union can be funded by using either a credit or debit card, a number of popular e-wallets, as well as the cryptocurrencies bitcoin and Tether USD. In addition, local bank transfers can also be made instantly and for free in Canada, South Korea, Vietnam, Indonesia, Malaysia and the Philippines.
When it comes time to withdraw funds, the same payment methods are also largely accepted, and most of them are processed free of charge. Keep in mind, however, that the minimum withdrawal amount is USD/EUR 40, and that a processing fee of USD/EUR 20 will be charged for all withdrawals of less than USD/EUR 100.
Looking at Pacific Union’s customer support, we are happy to see that the broker offers 24/5 service via both phone and email, which is something we believe all brokers really should be doing. Further, the broker’s support team can also be reached via live chat on the website, as well as via the popular Asian messaging apps Kaokao and WeChat.
In summary, we should reemphasize that Pacific Union is an offshore broker, which means that some of the regulatory protections that traders in Europe, Australia and other countries are used to, are not necessarily in place here. And although this for the most part is fine, it could become an issue if a broker for example goes into liquidation. As always, we therefore encourage everyone to do their own research before depositing significant money with a forex & CFD broker based offshore.