Looking to read PrimeTrading24 reviews, you are in the right place. Should you trade with PrimeTrading24.com? Read reviews to know about this forex broker whether to use or not.
This content 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 PrimeTrading24?
PrimeTrading24 FX otherwise known as FinansysFx.io is an offshore brokerage operated by Finansysfx.io LTD with a lot of promises for forex traders. The forex company claims registered address in Marshall island.
On the website, the broker offers different account types such as —-
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 PrimeTrading24.com Regulation
First of, the legal documents states that PrimeTrading24 abides by the laws of the Marshal Islands. It is not regulated anywhere. Considering that there are no further legal or registration details, PrimeTrading24.com cannot be considered as anything else but a scam and an unregulated broker.
More so, this broker does not offer money back guarantee which means trading on such platform is clearly putting your funds at a risk of scam.
These are drawbacks for forex traders/ clients to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
PrimeTrading24 Minimum Deposit for Traders
The broker PrimeTrading24 FX has specified $5000 as its minimum deposit based on its account type. In contrast, licensed FX brokers clearly spell out their regulations and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.
There were no payment methods disclosed anywhere on the site.
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!
PrimeTrading24 Provides What Trading Software?
PrimeTrading24 offers a web trading software. The platform comes with some basic tools and custom indicators but nothing more advanced.
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.
With that said, the PrimeTrading24 leverage is fixed at 1:500. 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.
PrimeTrading24 Licensing and Regulation
It is not far from believing that this broker 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 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
PrimeTrading24 located at PrimeTrading24.com appears like a trustworthy 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.
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