May 30, 2023

CFD Prime Reviews Is Cfdprime.com a Scam Broker? Revealed

CFD Prime Reviews

Do you want to trade on CFD Prime Reviews? Here is what you must know about this broker cfdprime.com. See reviews to find all about it.

This post promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.

What is CFD Prime FX?

CFD Prime FX otherwise known as cfdprime.com is an offshore brokerage with a lot of promises for forex traders. The forex company claims to offer crypto investment services to their clients. 

Further, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents a zero spread difference in Buy/Sell.

What We Discovered about Cfdprime.com Regulation

First of, Cfdprime.com claims to be registered in St. Kitts and Nevis. This offshore territory does not regulate forex broker and so, the broker is not licensed nor supervised by the local financial authority.

Furthermore, the broker claims to have several other offices including in South Africa, Cambodia and Cyprus. However, it can’t be the case, since the firm is not regulated in either of these locations. In order to clear the doubt, we searched the registers of the Cyprus Securities and Exchange Commission (CySEC) but no record about CFD Prime was to be found.

Again, the broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.

These are drawbacks for forex traders/ clients to avoid losing money with scam brokers lurking online. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.

Won’t you rather trade with a licensed and legit broker? Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK, ASIC in Australia, NBRB in Belarus, CySEC in Cyprus as well as IIROC in Canada which makes client funds safe. They accept traders worldwide…visit their official website

Does CFD Prime Have Account Types?

CFD Prime does not specify its trading account for clients. According to the website descriptions, the maximum leverage reaches 1:500.

CFD Prime deposit is indicated $50, which appears attractive. However, doing that with an unlicensed broker is a big risk.

CFD Prime specifies no minimum withdrawal amount. The execution time is said to take approximately 30 minutes as well. Also, the broker states that there are no fees.

In contrast, you should better stay with a legitimate broker that clearly spells out its regulation and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.

As for the funding methods, CFD Prime claims to accept deposit through Visa, Mastercard, Skrill, Neteller, wire transfer and Tether. 

Just so you know, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!

CFD Prime Provides What Trading Software?

CFD Prime claims to offer the well-known platform of MetaTrader 4. We managed to open the demo version of MT4 without filling in any login details. Frankly, the demo version looked like it was provided by MetaQuotes, but not by the broker itself.

Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.

Honestly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.

CFD Prime Licensing and Regulation

Like in any corporation, integrity is a key to uphold these days. It doesn’t matter if you make a lot of money but you can’t take it out. That is to say, exactly what is happening with non-licensed companies.

Having said that, it is not far from believing that Cfdprime.com is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.

COMPARE WITH A TRUSTED BROKER

Fortrade

Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website

Concluding Thoughts:

CFD Prime located at Cfdprime.com appears like a genuine trading broker, however, you should not take the words they say and the attractive website layout. By all appearances, we would advise traders to steer clear from unlicensed brokers as they likely a platform run by scammers. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.

Was the information helpful? Please share with us your experience in the comment section below. Thank you!

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