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FXPrimary Review: A Deceptive Offshore Broker

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FXPrimary Review: A Deceptive Offshore Broker

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A false and misleading claim is what FXPrimary is all about. The broker claims to be the number one Crypto broker. All the broker attempts to do is to attract unsuspecting investors into signing up with them. FX Primary has no legitimacy in the crypto trading world, and the results speak for themselves. After we received an email from Wimberly regarding her experience, we decided to investigate. Learn what we found out in this detailed and eye-opening FXPRIMARY Review for more.

FXPrimary Review

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Analysis of FXPrimary

The broker claims to offer a secure ECN trading environment by providing cutting-edge indicators. We have seen this type of scam before with claims of having the most accurate indicators.

What FX Primary is trying to achieve is create an impression of a professional crypto brokerage outfit. Despite their efforts, the broker makes mistakes which we will expose. We must keep the crypto world safe from these unscrupulous offshore brokers.

According to their about us page, the broker strives to deliver a top-notch trading experience. What they deliver is exactly the opposite. There have been rising complaints regarding how the broker treats members.

Before signing up, the broker almost calls every day trying to get you to invest. Once you make a huge deposit, the broker all of a sudden goes under. Any attempt to reach the broker fails, and later, the broker blocks your account.

Affiliate and IB Program

To find out how their website is deplorable, you should click on their IB tab. The action redirects you to the about us page. From what we have seen, affiliate marketers don’t want to get involved with the platform.

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The reason for this is the fear that the broker won’t pay any commissions. There’s also another reason as victims will vent their anger to these affiliate members. The victims blame affiliate marketers for directing them to a false crypto brokerage platform.

Assets and trading instruments FX Primary

Fxprimary offers four classes of trading instruments to choose from. These include commodities, crypto, FX, and indices. You will find commodities such as copper, crude oil, gas, gold, and silver.

The broker offers CFDs on crypto pairs such as BTC/USD and EDO/USD. You also get to trade using FX crosses and major currencies. Indices found on the platform include AUS200 and GER30.

Becoming a member

Signing up with FX primary won’t take long as the broker requires your address, email, and full names. Once you agree to their terms and condition, you waive all rights to funds deposited. The broker may change the trading conditions as they please.

FX Primary Comments from Members/victims

We do have a huge issue with their verification process. Instead of sending an email link or SMS Code for verification, the broker asks for credit card information. That’s unheard of, and we suspect the broker is harvesting banking information from clients.

Custodian of Fxprimary.com

The disclaimer at the footer of their homepage claims the website is registered under FX Primary Ltd. We could not find the company on any listing in St. Vincent and the Grenadines.

You will also notice that there’s no mention of any professional crypto broker on their team. This means investors are blindly depositing funds to an unknown platform. Anonymity is a risky feature in any online investment platform.

Domain background and online footprint (fxprimary.com review)

Fxprimary.com is 231 days old as we are publishing this review. The exact date the website went live was August 24, 2020. This is a short time for a crypto broker to claim to have the number one spot.

All reliable crypto brokers take time before their platforms get global recognition. These are the false claims we mentioned earlier that the broker tries to use. The IP shows 21 changes over the past 14 years. There’s no doubt in our minds that this is a short-term website.

Encounter with the broker

Ken Wimberly had a rough time trying to withdraw funds from the broker. He even enlisted the help of a recovery agent. These agents will take your money and won’t provide the results. There’s no way they can get hold of the broker or even recover funds.

You should note that these are professional offshore brokers. Trying to refund the victims is next to impossible. Once you deposit funds with the broker, it’s the last you will hear from them.

FXPrimary License and Registration Condition

FXPrimary is an unregulated Crypto broker that doesn’t bother applying for a license. With offshore brokers, we don’t expect them to meet the strict regulatory conditions. The disclaimer at the footer of their homepage shows a registration number.

Offshore brokers use random numbers to act as license details. There’s no broker registered under license number 10077880. FX Primary LLC is not an existing company and is a fraudulent offshore entity.

Whereas legit brokers post copies of their license details, the broker uses random numbers. There’s no way this broker offers any real trading conditions. It’s just a mimic website that the broker is using to try and fool investors.

Ensure you ask for valid documents from a broker before signing up. You can also confirm using the regulator’s official website. Go for brokers with licenses from reliable regulators such as ASIC, CFTC, CySEC, FCA, FINMA, and more.

Hallmarks of FXPrimary

Account details

fxprimary.com account types

FXPrimary offers one primary ECN account with no details of acceptable minimum deposit. This leaves room for the broker to ask for any amount which is against trading regulations. The industry has set $250 as the acceptable minimum deposit.

We also don’t know the trading conditions found under the account. Such valuable information is missing from their homepage. The broker claims to have over 250 trading instruments.

Contact and support

Although the platform has a chat tool, it doesn’t offer an instant response. There’s no other way of contacting the broker. The website fails to have a contact page which is quite worrying. Their chat tab requires you to send your email and wait for a response.

This is another avenue for the broker to harvest personal information. It’s not worth your time, and you should avoid any broker that fails to give direct communication access.

Trading platform

The broker claims to offer an MT4 trading platform. Although the platform does really work, it’s of no use if you won’t withdraw earnings. You can learn a lot using MT4, MT5, and SIRIX trading platforms. Some of the advanced features to find include advanced charting tools and multiple chart indicators.

Safety of funds with FXPrimary

As we have openly revealed the broker’s intent, its clear funds are far from safe. The broker doesn’t segregate accounts and won’t offer insurance cover for deposits.

Anyone who deposits with the broker is at the mercy of this platform. The broker decides whether or not you can withdraw, despite having funds in your account.

Scam or Legit FXPrimary

FXPrimary Trading Instruments

FXPrimary is a scam, and no Crypto broker would avoid direct contact with members. Please stay away from this platform.

Final thought

There’s no way we would recommend the platform. It’s a high-risk platform with no proof of withdrawals.

Stay on the right and safe side of trading by using engaging and user-friendly experts. These experts offer fair and transparent trading conditions for all.

We wish you the very best in your trading venture.

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2 Replies to “FXPrimary Review: A Deceptive Offshore Broker”

  1. This broker is NOT a scam. A lot of these claims are simply untrue. I have traded and made multiple withdraws without any issues. They DO NOT ask for your banking details as this “review” stated and they are 100% true ECN.

    This review is NOT legit at all.

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