PrimeOT (Primeot.com) is another Forex broker scam who is offering dubious trading services. Prime OT is claiming to offer real market quotes and a wide variety of trading instruments. From the comments we have seen regarding this broker, investors should trade with caution. Members are crying foul over what they term as unfair treatment. We had to conduct an investigation. Read this honest PRIMEOT review and know the whole truth.
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After receiving dozens of emails from members of this PrimeOT, we knew trouble was brewing. Why would over twenty members be complaining of the same problem? As it turns out, withdrawing funds with this broker is not an easy task. In fact, most members have been blocked from accessing their funds. Only scam artists are known to block and close accounts without issuing warnings. Why do investors sign up with rogue platforms to begin with? Read this thorough review to find out more.
What these scam artists have done is create a visually compelling website to lure investors to sign up. Why are these scam artists targeting unsuspecting investors. They know very well investors sign up without doing proper research. By using over the moon claims and promises, they are guaranteed to trap investors. Scam artists are known to promise high and quick returns to anyone willing to deposit funds with them. Thanks to our years of trading experience we know how to spot scams from a mile away.
Cortofin Ltd is the company which claims to own this rogue platform. According to the disclaimer at the footer of their homepage, they are registered in St. Vincent and the Grenadines. As you well know, this is a hub spot for rogue brokers. Offshore brokers cannot be trusted with funds for various reasons. They can run away with your funds without issuing proper notice. Another problem with offshore brokers is they tend to be anonymous and out of reach. PrimeOT is another anonymous broker.
Why have they failed to give us the actual names of founding members? Who are the people running this website behind the curtain? These are some of the telling signs we are dealing with a scam. Anonymity is a dangerous vine as trying to recover funds becomes next to impossible. Stay away from any anonymous broker especially those based in St. Vincent and the Grenadines. These are professionals who will do or say anything to make sure you get their funds. What are you waiting for?
Being based offshore, we can strongly state they lack proper licensing credentials. What these scam artists have done is claim to be registered in St. Vincent and the Grenadines. They have even posted their registration number at the footer of their homepage. As we said earlier, scam artists will do or say anything to have recognition. What we did was contact the registrar of companies to confirm their status. Their company is not in the list of registered companies. These scammers are posting fake registration details.
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Why have they failed to post copies of their registration certificate? If they had posted copies of their registration, it would be easier to verify. These are telling signs we are dealing with a broker who doesn’t want to be recognized. They simply lack the transparency to show investors they are duly licensed. A good way to stay away from these scam artists is to always check with known authorities. Be checking for registration with ASIC, COSNOB, CySEC, FCA, FSA, and NFA.
PrimeOT is furnishing users with six different account types to choose from. These accounts are named Self-managed, Basic, Silver, Gold, Platinum, Diamond, VIP. What we noticed weird is how similar some of these accounts are? Why would investors deposit $10,000 and get same trading results as one who deposits $50,000. Stay away from these accounts as they are just well places tricks. Users will jump in and deposit funds without looking at the features included in these accounts.
Another problem we spotted with these accounts is the private analyst session. These analysts also double up as account managers. They will demand you deposit more funds so you can have a higher income margin. Remember what we said about promising high returns in a short time? These are scam artists who will disappear when you deposit more funds. Who do these analysts make wrong trades when more deposits are made? They are in league with other brokers to share the spoils, your deposits.
When it comes to funding accounts, users can choose MasterCard or Visa. What we are afraid is the transaction process. PrimeOT is lacking proper a security features on their website. Lack of SSL encryption and DDoS protection layer is proof we are dealing with a rogue platform. Stay away from these brokers who don’t offer a safe funding process. Hackers will take advantage of this loophole and gain access to your bank account. Stay away from this platform or become their next victim.
No member has been able to withdraw funds with this broker. As it turns out, these are scam artists whose intent is to steal from anyone who deposits. Marie Ford is still hoping she will withdraw her $2,000 after months of trying to contact these scam artists. Her emails have gone unanswered and she doesn’t know what to do. These are scam artist who only care about investors depositing funds with them.
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How can funds be safe from a broker who fails to have proper licensing details? Safety of funds is not guaranteed by offshore brokers who remain anonymous. Why have they failed to inform users how they handle funds? Which banking institution do they use to bank money deposited by members? These are mere scam artists who have nothing else to do but scam investors. Did you know members could be depositing funds straight to owner’s bank account? Now you know the scales of this scam.
Another unsettling issue we discovered pertains to segregation of accounts. As it turns out, PrimeOT is pooling funds in one account. These are unacceptable trading practices which are putting funds at jeopardy. These are scam artists who will lose your funds when bankruptcy sets in. Insolvency can also occur and no member should expect any compensation. PrimeOT is not insuring funds as dictated by trading laws.
PrimeOT is a scam as most members will testify to this statement. From lack of proper licensing to having no credibility, Prime OT is a scam. Stay away and resist any calls to join their affiliate programs.
Adding this broker to our scam blacklist will protect anyone reading this review. Stay away and don’t click on any links sent by their email marketing team.
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Wishing all traders a lucrative and successful trading experience.
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