WikiFX Review: Many investors lost money because of this broker

What is WikiFX？

About 1Prime Options

The introduction section of this broker on its website seems very uninformative. We dont know who owns this company and when this broker was established. But what we know is that 1Prime Options is a recently established online forex trading service provider registered in Saint Vincent and the Grenadines. Saint Vincent and the Grenadines is an attractive place for financial companies to operate through an offshore company. there is no sharp regulation or overseeing of the company operation implemented. The SVG broker can run its activity and accept forex payments through credit cards but is not overseen.

Market Instruments

Investors can trade various stocks, forex currency pairs, indices, crude oil, gold, silver, natural gas, and other commodities and cryptocurrencies through the 1Prime options forex dealer.

Account Types

This broker offers traders only two different accounts to choose from. They are the DEMO account and the REAL account.

(Source: 1Prime Options)

(Source: 1Prime Options)

Leverage

Unfortunately, we can not find the information about the leverage, as well as spreads. 1Prime Options did not make this part clear.

Deposit & Withdrawal

1Prime Options forex only supports deposits and withdrawals via Bitcoin, and the cost of which depends on the variation of Bitcoin.

Regulation: Is 1Prime Options legit？

1Prime Options is not a regulated broker. It does not hold a legitimate license from any regulatory authority. WikiFX has given 1Prime Options a very low score of 1.29/10. A broker with such a low score is very likely to take your funds away fraudulently. We advise you to avoid the risks since no one can hold them accountable afterward.

(Note: Because different regions or countries have different levels of regulatory strictness, the score of the same broker might be slightly varied in other regions or countries. For details, please consult WikiFX customer service.)

(source: WikiFX)

Customer Support

According to its website, 1Prime Options only supports English and Spanish. This broker can be contacted via email and phone. In addition, traders can contact the broker by filling out the contact form on its official website.

(source: 1Prime Options)

Exposure on WikiFX

On WikiFX, the Exposure consists of feedback from traders. A bad track record of brokers can be checked via Exposure. WikiFXs Exposure function helps you get feedback from other traders and remind you of the risks before it starts.

One trader who comes from Argentina claimed that 1PrimeOption is a scam. It has a bad reputation, which does not allow traders to withdraw money.

This trader who is from Mexico complained that he/she lost money when investing in 1Prime Options and did not get a proper solution.

Feedback from Twitter

1Prime Options has a lot of feedback written in Spanish. And some traders connected this broker with another broker: IQ Option.

Conclusion:

WikiFX does not advise you to invest in 1Prime Options since it is unregulated. In addition, this broker has a bad track record of withdrawal refusal. The lack of information about this broker gives you another reason to avoid this broker. After all, there are a lot of better alternatives you can choose in the financial market. If you want to know more information about the reliability of certain brokers, you can open our website (https://www.WikiFX.com/en). Or you can download the WikiFX APP for free through this link(https://www.wikifx.com/en/download.html). Running well in both the Android system and the IOS system, the WikiFX APP offers you the easiest and most convenient way to seek the brokers that you are curious about.

Click on 1Prime Options' WikiFX page for details