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No Regulation
Score
1.54 /10
Danger
Prime Forex
5-10 yearsSuspicious Regulatory License
Suspicious Scope of Business
High potential risk
Influence
C
Add brokers
Comparison
Expose
Exposure
Time Machine
Website
Score
Regulatory Index0.00
Business Index7.25
Risk Management Index0.00
Software Index4.00
License Index0.00
Time Machine
Website
Licenses
No valid regulatory information, please be aware of the risk
VPS Standard
No restriction on the broker account. Support service provided by WikiFX
Single Core
1G
40G
open now
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Warning: Low score, please stay away!
2
Previous Detection :
2025-10-15
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
- The current information shows that this broker does not have a trading software. Please be aware!
WikiFX Verification
| Prime Forex Review Summary | |
| Founded | 2006 |
| Registered Country/Region | India |
| Regulation | No regulation |
| Trading Product | Currencies |
| Demo Account | ❌ |
| Leverage | / |
| Spread | / |
| Trading Platform | / |
| Minimum Deposit | ₹50,000 (for door delivery orders) |
| Customer Support | Phone: 044 2256 6060 |
| Email: support@primeforex.in | |
Prime Forex Information
Prime Forex, an India-based currency trading company, was formed in 2006. It is not regulated by India's main financial regulators, such as the RBI or SEBI. The company offers foreign exchange services to visitors, students, and corporations, primarily from Chennai Airport.
Pros and Cons
| Pros | Cons |
| Long history | No regulation |
| No online trading platform | |
| Demo accounts not available | |
| No info on deposit and withdrawal |
Is Prime Forex Legit?
Prime Forex, which is registered in India, is not subject to any of the country's financial regulatory authorities, such as the Reserve Bank of India (RBI) or the Securities and Exchange Board of India.
According to the WHOIS database, the domain primeforex.in was registered on February 5, 2007, and will expire on February 5, 2026. The domain was last updated on May 31, 2025, and is now protected by the following status flags: clientTransferProhibited, clientUpdateProhibited, clientRenewProhibited, and clientDeleteProhibited.
What Can I Trade on Prime Forex?
| Trading Instruments | Supported |
| Currencies | ✔ |
| Commodities | ❌ |
| Indices | ❌ |
| Stocks | ❌ |
| Cryptocurrencies | ❌ |
| Bonds | ❌ |
| Options | ❌ |
| ETFs | ❌ |
Prime Forex Fees
When it comes to money changers and retail forex services in India, Prime Forex's costs are lower and comparable to the industry standard. The price scheme is easy to understand. There are flat transaction fees and fair delivery fees that depend on the size of the item and how far away it is.
| Fee Type | Amount |
| Forex Transaction Conversion Fee | ₹100 per forex order (flat) |
| Minimum Order for Door Delivery | ₹50,000 |
| Door Delivery Charges | - ₹150 (within 10km, ₹50K–₹1L orders) |
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