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Primate Trade Review: Primatetrade.com Awful Forex Scam

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Primate Trade Review: Primatetrade.com Awful Forex Scam

Primate Trade (Primatetrade.com) is a ridiculous CFDs, Cryptocurrency, and Forex trading platform offering absurd and unrealistic ROI. PrimeTrade is professing to offer a trusted trade terminal to anyone who signs up. And this is where we start getting false data as more and more victims pop up. Most unsuspecting traders were easily enticed due to the high ROI promised. Read this entire PRIMATE TRADE Review and get the whole story.

Primate Trade Review

About Primate Trade

When it comes to their trading background, much leaves to be desired. No one knows when the platform started trading or who the people behind it are. The platform gives no names of founding members or staff members. Primate Trade is an anonymous trading platform which must be exposed at all means. Anonymous trading platforms offer nothing but scam products and services. Those who expect to get the promised ROI are in for a rough ride. It is better to stay away.

According to their contact page, the platform claims to be located in the UK. We reached out to various brokers and traders and none have heard of this platform. And this makes the platform a hard nut to crack. Anonymous websites are run by offshore brokers who target European investors. They use false location details to try and fool investors. Scam artists will even use Google maps to try and falsify their location. And this is why we must expose these scam artists.

Assets Offered

Primate Trade is offering Bonds, Commodities, Cryptocurrency, Forex, and stocks. The only way to remain safe is to use industry approved and expert backed brokers. With an experience team behind you, traders are guaranteed of a safe trading experience. Get to know how to trade in the hands of real and reliable brokers who have a ton of experience. You can also request to get eBooks and video tutorials from recommended experts. It is your time to learn how to trade with professionals; you just need to stay away from scam platforms.

They claim to offer Bitcoin mining and help traders mine their own coins. These claims may be true but no one has seen any fruits. Digital currency enthusiasts are encouraged to use reliable and reputable Crypto mining companies. With a proven Crypto mining company, you will easily mine your own coins from home. These are the companies successful miners use to get their own coins. Stay ahead of the pack by using genuine and transparent Crypto mining companies at all times.

Domain Details

Primate Trade prides itself for being experienced traders, it seems to be a lie. The creation date was 16th January 2020. Prime Trade is barely a year old and they claim to have a ton of online trading experience. Scam artists will do or say anything to try and make their platforms appear legit. And this is why we expose these scam artists and try to keep the trading name safe. Thanks to our years of investing and trading, we do know how to spot a scam.

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License and Registration with Primate Trade

Since they claim to be located in the UK, we reached out to authorities in this region for confirmation. The regulator claims they have never heard of this trading platform. And this did not come as a surprise as anonymous platforms are never given any trading license. The Financial Conduct Authority has no platform which is licensed under this name. Scam artists will never be able to meet the standards set to get a trading license. Primate Trade is NOT LICESNED OR REGULATED to offer any trading licenses.

The platform is based in Europe and we had to reach out to various online regulators in the region. These included CONSOB, CySEC, FINMA, and others. None of these EU regulators have given Prime Trade the green light. And this is proof we are dealing with a rogue trading platform. Members should never expect any form of compensation should the platform face bankruptcy. The best option is to stay away from this ridiculous trading platform.

Limitations of Primate Trade

Account Packages

Primate Trade Account Packages

Primate Trade is offering four different account types to choose from. Accounts listed include a daily ROI of 125, 150, 175, and 200 percent. The accounts are not listed in any name and users have to choose according to the expected ROI. We have to say that no expert or robot can be able to achieve this fete. The market is volatile and prices change from time to time. And this is why you must stay away from such illicit trading platforms. These are scam artists who are preying on investors who want a quick profit turn around.

All traders should know that any platform offering a guaranteed profit margin is a hoax. Prices change due to unforeseen forces such as boardroom wars and political interference. These are the reasons why we believe Primate Trade is a scam pouncing on unsuspecting investors.

Commissions Offered

There are three referral commission programs available on Primate Trade. They claim you can be able to attract other investors and earn 6 percent of the total commission. First level referrals get 3 percent, second level 2 percent, and third level one percent. The problem with their commission based referral program is no one has been able to get any profit.

Contact and Customer Support

Primate Trade is using a chat box located at the bottom right hand side of their website. A real trading platform will offer live chat agents who will answer all queries with ease. A chat bot will only answer questions which are basic regarding the platform. We also noticed the response time is slow and can take hours. It is best to stick with platforms which offer real live agents.

Payment Options

Some of the listed channels include Bitcoin, Bitcoin Cash, Dash, Payeer, and Perfect money. What we noticed is lack of basic depository channels such as MasterCard, Neteller, Skrill, and Visa. No bank wire is available which means they only want to deal with Crypto currency. The problem with Primate Trade is no one has been able to make withdrawals. It remains the biggest hurdle facing members of this platform.

Trading Platform

The trading platform used in this website remains unknown unless you sign up. A look at the entire website does not give users any information regarding the trading platform. Members have to deposit a minimum of $500 to start trading which is excessive. The industry has set $250 as the acceptable minimum trading requirement. Any platform asking for more is extorting from investors.

Safety of funds with Primate Trade

Primate Trade is not segregating their plans which mean pooling of funds in one account is taking place. Stay away from this illicit platform as no one has been able to withdraw funds. The platform does not participate in a compensatory scheme as dictated by law.

Scam or legit

About Primate Trade

Primate Trade is a scam thanks to the numerous complaints and ridiculous features. A platform that guarantees a daily profit margin is nothing but a scam. Stay away from this platform and never sign up with any of their affiliate programs. Warn your family and friends from giving out their credit card information. Calls from their account managers should be blocked as they are just getting your personal information.

Final thought

Wishing all traders a safe trading experience, continue reading our reviews for more on online trading.

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