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Score
Australia
Regulated in Australia
Institution Forex License (STP)
MT4 Full License
Regional Brokers
High potential risk
Benchmark
Add brokers
Comparison
Quantity 9
Exposure
Score
Regulatory Index6.32
Business Index8.00
Risk Management Index0.00
Software Index8.50
License Index5.50
Single Core
1G
40G
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Company Name
Primetime Global Markets Limited
Company Abbreviation
PGM
Platform registered country and region
Australia
Company website
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YouTube
Company summary
Pyramid scheme complaint
Expose
Scam. Account frozen, no withdrawal allowed. Don't be fooled.
This broker accuses customers of violating trading rules whenever they make a profit. When asked to provide data or evidence, they fail to do so. What exactly constitutes a legitimate trade according to them? Even if a customer did violate rules, they should at least pay out principal amount. However, PGM refuses to return the principal; instead, they freeze your MT4 account and prevent you from logging in both on the platform and the backend. They just delay it!
Using this broker for copy trading, on December 30, 2024, my account suddenly executed large volume trades with both the opening and closing times being identical! This led to losses, and currently, the remaining funds are being withheld by the broker who refuses to process withdrawals.
On January 6, 2025, my position of $40,000 in PGM has been frozen. Currently, I am unable to log in to my account and unable to withdraw funds. This is an act of banditry and needs to be exposed.
This is a scam platform where withdrawals are not allowed, and accounts are being disabled.
The broker is extremely dishonest. I copied the trades using the technical party they recommended, but due to issues with the technical party, my account suffered a significant loss. I traded 130 lots at once with $50,000, opening and closing positions at the same time and same price point, resulting in a loss of $18,000, which is absurd. Now, not only are they refusing to compensate, but they are also accusing us of violating rules, freezing the account, and denying withdrawals.
The platform is utterly corrupt! At the same time and at the same price point, my account managed to incur a loss of $18,000. It's outrageous that 50,000 USD could open 136 lots. Not only did they refuse compensation after the fact, but they also froze my account and prevented withdrawals! I demand immediate compensation and the release of my funds from the platform! Otherwise, they should not expect to continue doing business!
We have been trading normally before. A few days ago, you said that there was a team attacking you. Why did you freeze our account because of the attack? This reason is too far-fetched. It's inexplicable that you are not allowing withdrawals. This is a black platform.
PGWReview Summary | |
Founded | 1995 |
Registered Country/Region | Melbourne, Australia |
Regulation | ASIC |
Market Instruments | FuturesCommoditiesPrecious metalsStocks indexForex exchange |
Demo Account | ✅(STP account) |
Leverage | Up to 1:400 |
Spread | As low as 0.5 pips |
Trading Platform | MT4 & MT5 |
Min Deposit | $100 |
Customer Support | Live chat |
Email: cn.support@pgmfx.com | |
Physical Address: INP MELBOURNE, Suite 103, 566 St kilda Road MELBOURNE VIC 3004 |
PGM was incorporated in Australia in 2015. Currently, PGM mainly provides CFD trading services such as foreign exchange, precious metals, energy, index products, and crypto currencies.
PGM supports the use of the MT4 and MT5 platforms and offers three types of accounts for traders to choose from.
Pros | Cons |
Multiple strict regulations | The high minimum deposit of ¥5000 for ECN Account |
More than 10,000 trading products | |
400 times leverage | |
24/7 service | Delayed response |
Dedicated servers for data security | |
Negative Balance Protection | |
Ultra-low spreadsSpread as low as 0.1pips |
It is authorized and regulated by the Australian Securities & Investments Commission (ASIC), Regulation Number (AFSL) 470050.
PGM says it offers 1,0000 + products, Primetime Global Markets allows you to invest in futures, foreign exchange, precious metals, commodities, and stock indices with just one account.
Tradable Instruments | Supported |
Futures | ✔ |
Commodities | ✔ |
Precious metals | ✔ |
Foreign exchange | ✔ |
Stocks | ✔ |
Options | ✔ |
Indices | ✔ |
Bonds | ❌ |
ETF | ❌ |
PGM offers three types of accounts for traders: CENT ACCOUNT, STP ACCOUNT, and ECN ACCOUNT. Minimum deposits range from $100 to $5000, and leverage can be up to 1:400.PGM supports trading 10,000+ CFDs.
When it comes to opening an account, PGM gives clear and easy steps. You may refer to:
PGM offers competitive spreads and commissions across its different account types.
The CENT Account features a minimum spread of 2.2 pips for EUR/USD, making it suitable for beginners with smaller trading volumes and a focus on affordability.
In contrast, the STP Account presents tighter spreads, with a minimum of 1.6 pips for EUR/USD, appealing to traders seeking a balance between cost-effectiveness and functionality.
For experienced traders looking for the lowest spreads, the ECN Account stands out with a minimum spread of 0.5 pips for EUR/USD, albeit requiring a higher minimum deposit.
PGM does not charge any account inactivity fees.
PGM allows traders to trade with both MT4 and MT5 platforms on Windows Desktop, Google Play, Android APK, iOS mobile terminal, as well as the Web page (for MT4 only).
Trading Platform | Supported | Available Devices | Suitable for |
MT4 | ✔ | Windows DesktopGoogle PlayAndroid APKiOS mobile terminalWeb page | Novice Trader |
MT5 | ✔ | Windows DesktopGoogle PlayAndroid APKiOS mobile terminal | Skilled traders |
The minimum deposit requirement varies based on the chosen account type: 100USDfortheCENTAccount,300 for the STP Account, and $5,000 for the ECN Account.
But they didn't disclose the deposit and withdrawal methods on their official website.
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