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Prime Trade Markets (Primetrademarkets.com) is a Forex scam broker to hit the lucrative trading world. PrimeTradeMarkets is purporting to offer CFDs and Forex to anyone interested in signing up. With claims of having low spreads from 0.0 pips and access to accurate free Forex signals, we had to investigate. Read this honest and detailed PRIME TRADE MARKETS Review to find out the whole truth. This is what we found out!
Scammers know for a fact that we all want to make a quick buck or two. That’s why they come up with huge claims and promises to entice newbie traders into signing up. Prime Trade Markets is no different as they even have different welcome bonuses to offer. Once you open an account with this broker, you investors are granted a 60% welcome bonus. That’s not all; promotions come with over 200% dynamic bonuses.
Don’t trust what these scammers say for they do this to entice newbie investors to sign up. All these claims are a ploy to sign up and deposit your own money. They simply want users to imagine depositing a large amount to get a large bonus. There’s more than meets the story with Prime Trade Markets. Here, we will expose all the dirty tricks used by these scammers. Read this entire review to find out more regarding PrimeTradeMarkets.
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According to the disclaimer at the footer of the homepage, this firm is owned by Prime Trade Markets Limited. They claim that this brokerage firm is based in Seychelles which means they are offshore. Offshore brokers are notoriously known for flaunting set industry regulations and rules. Prime Trade Markets is shrouded by anonymity since we don’t know who the actual owners are. Homepage does not disclose this information.
Who is the CEO or CFO of Prime Trade Markets Limited? Lack of this vital information is proof that we are dealing with a professional Forex scam outfit. What these fraudsters want is to sign up as many investors before going under. This is not going to happen as we will expose all their dirty tricks. It means that PrimeTradeMarkets wants to remain anonymous which is a dangerous character trait. Never invest money with an unknown online entity!
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There’s no way that an offshore broker can be properly licensed to conduct Forex transactions. Offshore brokers always look the other way when it comes to their products being vetted by regulatory bodies. They know that they won’t pass the vigorous tests and standards required to set up shop. That’s why they opt to start these pyramid schemes using the good Forex trading name. Where is their licensing number?
A legit broker will easily post details of their registration for all to see. Usually, the licensing number is found at the footer of the homepage for users to verify with regulatory bodies. Prime Trade Markets fails to do this due to lack of proper documentation. Where are their registration certificates and documents? Posting these important documents shows that we are dealing with a real broker. That’s what transparency is about, posting your credentials for users to verify.
According to their platform’s page, this broker uses MT4 trading platform. They claim that their platform can be compatible with Windows, IOS, and Android. To test their platform, we had to download it for ourselves. And this is where our next red flag laid in wait, their platform did not complete download. This means that users are dealing with an unstable platform. An unstable platform is bad news for any user.
Unstable platforms have been the main reason why some traders have lost money. Hackers find unstable platforms easy to gain access and steal credit card information. This wouldn’t be the first time an unstable platform has been the root course of users being defrauded. Hackers also find unstable platforms as easy breeding ground for personal data harvest. They will hack these platforms and steal your personal identity for other online thefts, beware!
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This broker has gone a step further into creating a fake demo account to entice users. They have rigged the demo account in favor of anyone who signs up. One might think that this is a good idea, but it’s not. A fake demo account is meant to make users believe that they are can make real money with this platform. What this means is that we are dealing with a calculating Scam team that wants to create a side show.
Users will make over 90% successful trades with this demo account thanks to these scammers. They do this in the hopes that users will open an account with them. Once investors see that they are making money with a demo account, they will want to open a real account. Sadly, a real account will not make the same winning trades. These scammers are in league with other rogue brokers to share the spoils. Once you deposit with them, that’s their loot to share.
When it comes to funds being safe, an offshore broker will never safely guard your deposit. In fact, the opposite will happen, they will take it all. Have you noticed that with their entire glamour, PrimeTradeMarkets fails to disclose their banking partner? Where do they bank money deposited by investors? Lack of this vital information is proof we are dealing with a Forex scam. Users maybe depositing money straight to the owner’s personal bank account.
Another disturbing detail with security of funds is lack of segregated accounts. What this means is that Prime Trade Markets is pooling funds in one account. In case of bankruptcy or insolvency, funds will be lost since they are held in one account. Compensation is also out of the picture, this broker does not participate in a compensatory scheme. We strongly are against investors opening an account here.
Prime Trade Markets offers three different account types for users to choose from. These accounts include Silver, Gold, and Diamond. A minimum required deposit with these accounts is $50, $200, and $1,000 respectively. This is another proof we are dealing with amateur Forex brokers. According to the set industry regulations and rules, minimum deposit should be $250. They simply want anyone to sign up and deposit money.
Prime Trade Markets is a scam that is waiting to pounce on unsuspecting online investors. From their level of anonymity to being offshore based, this is truly a Forex scam. Make sure to warn your friends and relatives from signing up with this broker. Mark all their emails as Spam and never click on any links sent by them.
Our only option is that we have is to add Prime Trade Markets to our scam blacklist. With this done, we hope that authorities will look into it and shut down their operation. This is the only way to protect Forex investors from signing up with this broker. Ignore all promotional materials asking you to join this broker. They just want your money and that’s the last you will hear from them. Look at all the negative comments and you will get to see a true picture.
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