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Prestige.FM Review: Prestige.fm Forex Scam Revealed

Prestige.FM Review: Prestige.fm Forex Scam Revealed

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Prestige.FM (Prestige.fm) is another crude CFDs and Forex trading scam targeting unsuspecting investors. Prestige FM is professing to be a market leader who has helped traders makes exceptional profit margins. Prestige Financial Markets is the full name of this platform which claims to hail from the UK. With members crying foul with this platform, we decided to expose their rot. Read this genuine and honest PRESTIGE.FM Review for more details.

Prestige.FM Review

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Prestige.FM Review

With complaints coming in from all parts of the world, Prestige.FM is clearly a rogue online platform. Many of the victims are angry with the fact that they can’t gain access to their funds. Some of them still have a huge balance reflecting in their accounts and can’t make withdrawals. And this is where we draw the line as this is a crude way to steal from willing investors. With platforms such as this one, the Cryptocurrency trading world will get crippled. And this is why we must expose it.

Professional scam artists will use any trick in the book to make investors sign up. And this is what Prestige.FM is doing with their cloned website. Apart from using so-called account managers, these crooks have copies information from real websites. Cloned website makes it easy for investors to believe the platform without even conducting a research. And this is why you must use credible review sites to know more about a certain platform. Stay away from Prestige FM as it is a crude platform.

About Prestige.FM

Not much information is given to us regarding the history of this trading platform. Looking at their company page, no information is given regarding the credibility of this platform. What they have done is use promotional messages to make it look like this is a real trading platform. And this is where we draw the line as the platform is another online scam. No company or broker has come out and claimed association with this platform. Company register in the UK does not have any institution registered under this name.

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Anonymity is another problem we noticed with this platform. No investor should sign up with anonymous online investment platforms. Trying to get a hold of these people is next to impossible. And this is why scam artists prefer being anonymous for a reason. Stay away from this platform and never sign up with any of their affiliate programs. No one knows the names of the founding members of this platform. And this is why we must expose this scam to protect online investors.

Is Prestige.FM licensed or registered?

Prestige.FM License and Registration

Since the platform claims to hail from the UK, we contacted official regulator of Forex entities. The Financial Conduct Authority does not have any information regarding this platform. And this is concrete proof we are dealing with a rogue platform. When the official regulatory body in the UK does not recognize a platform, it is best to stay away. The platform will most likely be a fraud which has not passed regulatory standards. Now you know why you should stay away from it.

Another disturbing feature with this platform is lack of proper information regarding license number. The entire website has no details regarding license or registration number. You would expect the platform to have posted copies of their license certificates for all to see. The reason they don’t have them is because no regulatory has given the green light. Deposits made to this platform are as good as gone once users hit the deposit button. Stay safe and ignore unregulated platforms.

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Advantages of Prestige.FM

No ADVANTAGE was found on their entire website as users complaints rise. The platform is stealing from anyone who deposits more than $5000 which is sad. Make sure to stay away from it as they don’t even secure their website. Lack of proper security features is a huge problem as the website lacks basic protection. How do you expect the broker to secure your funds when their website lacks the basic security features? Attacks from third parties can happen at any time, stay away.

Disadvantages of Prestige.FM

Account types

Prestige.FM Account Types

Prestige.FM is furnishing users with three different account types to choose from. Accounts are listed as Basic, Advanced, Expert, and Prestige. What we noticed weird with these account types is the high minimum required deposit. Users are supposed to deposit $5,000 to start trading with this platform. The industry set minimum required deposit is at $250. Benefits listed as account features are another trap to entice users to deposit more funds. Stay away from this rotten online scam.

Deposit and withdrawal

When it comes to account funding, Prestige.FM is already covered with available channels. Investors can deposit using Bank transfer, Maestro, MasterCard, and Visa. A warning to investors, this is not a call for anyone to deposit funds with this platform. Withdrawing still remains to be the hugest challenge with this illicit platform. No member has been able to show any proof of ever withdrawing a dime with PRESTIGE FM. And this is why you must stay away.

Trading Platform

Prestige.FM is using a web based platform which is bad news for investors. The problem with their platform is lack of any security feature installed to protect users. No DDoS or SSL protection software has been installed making their platform highly unstable. HACKERS can easily take over this platform and steal vital information such as credit card details. You should ensure you trade with a secure platform, preferably MT4 or MT5.

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Safety of funds with Prestige.FM

How can funds be safe with the number of complaints rising by the day? Without segregation of accounts, Prestige.FM is pooling funds in one account. Users are depositing funds straight to owner’s bank account. With no security features, this is another rotten platform which will jeopardize user experience. Stay away from this platform or else become their next victim. Most members are crying foul after their contact details from platforms such as Whatsapp get blocked.

Scam or legit

Prestige.FM Trading Platform

With evidence as clear as day, Prestige.FM is a scam which must be exposed at all times. Make sure to mark their emails as spam and never click on any links sent. Never share your personal details with this platform. To be perfectly safe, simply don’t sign up with them.

Final thought

We will be adding this platform to our scam blacklist to ensure our readers stay in the know.

Forex brokers are another safe alternative for traders. Sign up with top rated brokers who come recommended by trading experts. Make the bold step and sign up with reliable brokers who will keep you safe at all times.

Wishing you all the best in your Forex trading.

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