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Limit Prime Review: Limitprime.com Hazy Forex Scam

Limit Prime Review: Limitprime.com Hazy Forex Scam

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Limit Prime (Limitprime.com) is another doubtful CFDs, Cryptocurrency and Forex scam to hit the trading world. LimitPrime is professing to offer modern investment advice thanks to a team of qualified experts. Once you visit their website, it is easy to be carried away by the vivid design. With skyscrapers of Dubai in display, investors have fallen for this online scam. Read this genuine and honest LIMIT PRIME Review for more.

Limit Prime Review

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Limit Prime Review

Just with most online scams, trouble will erupt once members discover the platform is a sham. Members of Limit Prime are up in arms after the platform failed to live up to its hype. These scam artists have created a mess that most investors will never get out of. Some victims had deposited over 160,000 Euros and cannot get any compensation. This is the thanks you get after trading with an unregulated online trading platform. It is best you read this entire review and get to know the facts regarding Limit Prime.

Professional scam artists will do or say anything to try and make their platforms appear legit. Once you visit the page, you will notice the sheer brilliance of their homepage. And this is what these scam artists are after. To entice investors into believing this platform is based in the rich Dubai state. Far from it, these scam artists are merely offshore brokers out to commit some serious online fraud.

About Limit Prime

According to their about us page, Limit Prime Securities was founded in 2017. The problem with this statement is that no broker seems to be associated with the platform. Another disturbing feature we noticed is how this platform has managed to evade regulatory bodies. Yes, the website was registered 9th November 2017 and is active till today. This means the platform has been stealing from investors for over two years.

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Another disturbing feature with this platform is the fact that they have not given out their actual identity. No one knows the founding members of this platform which makes it hard to locate them. It is also hard to trace the CEO or CFO of an unregistered company. Members of the trading world should be wary of such illicit trading platforms. Ensure you stay away from this platform and never associate with any of their account managers.

Is Limit Prime licensed or registered?

Details posted show that the platform claims to be located in Montenegro. They claim to be situated in the capital city Podgorica. This means that they should be under European regulatory compliance. The problem with this platform is that they are not registered by any regulatory bodies. Some of the regulatory bodies we contacted include CONSOB, CySEC, FCA, FMA, and others.

None of the above regulatory bodies has ever licensed this platform. The German regulatory body BaFIN has issued an alert concerning this platform. It is clear that we are dealing with an unlicensed and unregulated online trading platform. Anyone who signs up with them will face serious consequences. To be clear, funds are never safe with an unregulated platform. Stay away from this platform and never associate with any of their account managers. Once you ask for a trading license, they will block your contact details.

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Advantages of Limit Prime

After going through their entire website, we could not find any advantage of dealing with this platform. The number of complaints is increasing by the day which means more and more investors are losing. Stay away from this platform and never associate yourself with any of their promotional materials. Stay away and never accept their affiliate programs.

Disadvantages of Limit Prime

Account types

Limit Prime Account Types

Limit Prime is furnishing users with four account types to choose from. The accounts named include Real, Mam, Scalper, and Swap free accounts. A huge problem with these accounts is in regards to information. Information on features of these accounts is missing such as leverage and spreads. We also don’t know the acceptable minimum deposit with each account. It has come to our attention that members are being asked to deposit over $5,000 to start trading. This is an insane depository requirement as the industry has set $250 to be the minimum.

Customer and Support

When it comes to contacting the platform, Limit Prime is ensuring contact is next to impossible. A call is made when the account manager wants you to deposit more funds. It is a classic pyramid scheme.

Demo Account

Lack of a demo account is another feature we must highlight. Smart investors know the importance of a demo account. A demo account gives users an idea of what to expect with a certain platform. You get to know the advanced tools available as well as the speed of executing trades. These scam artists have clearly failed to offer a demo account for a reason. They don’t want users to notice how awful their platform has become. Stay away from this trading platform and never commit to a broker without testing a demo account.

Trading platform

The homepage suggests Limit Prime is using MT5 trading platform. It is a lie as the website is using a custom made web based trading platform. You will be vulnerable as these platforms fail to secure the platform with necessary software. Lack of DDoS and SSL encryption is proof we are dealing with a lousy platform. You can tell as the website does not have the most basic of security features to protect itself.

Safety of funds with Limit Prime

When it comes to safety of funds with this platform, you should forget it. Without segregation of accounts taking place, Limit Prime is pooling funds in one account. Members are actually depositing funds straight to owner’s bank account. You are enriching the pockets of scam artist when you decide to deposit with them. The best option is to stay away and never give them your money and time.

Scam or legit

Limit Prime Features

With concrete evidence already displaced, we are sure Limit Prime is a scam. Make sure to mark their emails as spam and never click on any links sent by their email marketing team. Warn your family and friends from signing up with any of their affiliate programs. Online authorities will soon investigate and shut this whole website.

Verdict

We will add this platform to our scam blacklist and ensure our readers are kept safe from it.

You should partner with brokers who are accountable and with a proven track record. Sign up with authentic and top rated brokers for a safe trading experience. What are you waiting for? Sign up with recommended and proven online brokers.

Wishing all investors a safe trading experience.

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