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No Regulation
Score
1.50 /10
Danger
Prime Trades
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Comparison
Expose
Exposure
Open Account
Website
Score
Regulatory Index0.00
Business Index6.92
Risk Management Index0.00
Software Index4.00
License Index0.00
Open Account
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
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Warning: Low score, please stay away!
2
Previous Detection :
2024-11-11
- 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
GENERAL INFORMATION AND REGULATION
Prime Trades appears to operate in Europe. They seem to offer a single trading account type with leverage of up to 1:300, and access to the ever popular MetaTrader4 (MT4) platform.
This may sound nice, but there are a number of serious issues about this broker, starting with the fact that their website is virtually anonymous. So, if you are wondering whether it is safe to deposit your funds with them, make sure you read the following lines first.
As we already noted, the Prime Trades website is completely anonymous – nowhere in their presentation do they bother to tell us the name of the company that runs the broker, nor where is it based. There isnt even a contact number.
This means that clients of this broker dont know who is dealing with their money, and have no assurance whatsoever for the security of their funds. Needless to say, they are subjected to all kinds of risks. Most probably, Prime Trades is run by scammers, and there is virtually no way you can file a legal action against them, because they are anonymous.
Despite the anonymity and the obvious lack of a legit license, the broker admits to operate in the European Economic Area. Therefore Dont be fooled by the high spreads or the great platform Prime Trades offers. Obviously, what we are talking about here is an anonymous, unregulated website, which most probably is involved in scam.
MARKET INSTRUMENT
There a good selection of tradable assets at Prime Trades, which is also a potential advantage for its clients. The brokers product portfolio includes many currency pairs, CFDs on indices, commodities, precious metals, stocks and cryptocurrencies like Bitcoin.
ACCOUNT AND LEVERAGE
Prime Trades appears to operate in Europe. They seem to offer a single trading account type with leverage of up to 1:300, and access to the ever popular MetaTrader4 (MT4) platform. But no minimum deposit were disclosed.
TRADER SECURITY
It is not recommended for traders to Use this broker and any other unregulated forex brokers, also another red flag associated with this broker is their website is not working.
TRADING PLATFORM AVAILABLE
In our view, one of the few possible advantages of Prime Trades is that it supports the most popular forex trading platform – the MT4. This trading software provides numerous market indicators, advanced charting tools, user friendly interface and even customizable trading robots, allowing for algorithmic trading sessions.
DEPOSIT AND WITHDRAWAL
No information regarding the acceptable means of deposit and withdrawal provided by this broker, which is a serious issue to always consider when choosing a broker.
CUSTOMER SERVICE
Website not working.
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