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Score
Hong Kong
5-10 yearsRegulated in Hong Kong
Type AA License
High potential risk
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Comparison
Quantity 27
Exposure
Score
Regulatory Index7.15
Business Index7.56
Risk Management Index0.00
Software Index8.62
License Index7.15
Single Core
1G
40G
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Company Name
天誉金号有限公司
Company Abbreviation
Prestige
Platform registered country and region
Hong Kong
Company website
85266723243
Company summary
Pyramid scheme complaint
Expose
It happened today. Somebody should look into this.
Fraud broker. Lose all the money. 1.7 million in total. Background manipulation. Is there anyone like me?
The fake analyst appointed by the company induced clients to open account by pulling them into stock group.He is accustomed to defraud.If the client doesn’t follow,he will cancel the account,even delete the evidence,which is rare.
Investors should pay attention to Prestige fraud platform Prestige is truly a fraud platform.King shore is the No.25 member of Prestige.In the midmonth of July in 2017,the salesman of Prestige induced me to the group with the excuse of talking about stocks,also taught us stocks in broadcasting room.During that time,they said that the stock was not the best choice for operation while gold investment could brought huge profit,with flexible buying up or down through two-way trade.Showing the profiting bills,they induced us to deposit and joined the VIP group one.They assured that we could earn back several times our income with the guidance of teacher Li.Many said they had profited.I was cheated for about 100 thousand yuan totally.Following the order recommendation teacher,I made a loss of more than 20 thousand within a month.In addition,I also witnessed those investors made great loss of several millions.This is totally a fraud platform,full of cheaters.After induction to deposit,they told clients to plunge more money into it and operated with orders.Having profited a little, thy began ordering reverse recommendation and encouraging to buy more,which led to many investors’ great losses.They ignored users’ complaints and continued cheating.I hope you polish your eyes and select platforms carefully.The customer service got rid of the responsibility with excuse of “careful investment ”,refused to handle it and let customers bear themselves.When I complained to the platform, my account was even canceled.Please pay attention to this fraud
Prestige keeping denying its operation and shirking responsibility!
Rubbish platform. There is a data error on the platform, but it will not be resolved in a timely manner. And the customer will be threatened to delete the exposure by controlling the customer's amount.
On September 26, 2023, there was a huge fluctuation in the platform data. I successfully placed an order with full funds. Later, the platform said that the system data error restored the order that was previously closed in the account. The position changed and orders placed due to data errors were not processed. I have been trying to communicate with customer service to no avail.
Investors should pay attention to Prestige fraud platform Prestige is truly a fraud platform.King shore is the No.25 member of Prestige.In the midmonth of July in 2017,the salesman of Prestige induced me to the group with the excuse of talking about stocks,also taught us stocks in broadcasting room.During that time,they said that the stock was not the best choice for operation while gold investment could brought huge profit,with flexible buying up or down through two-way trade.Showing the profiting bills,they induced us to deposit and joined the VIP group one.They assured that we could earn back several times our income with the guidance of teacher Li.Many said they had profited.I was cheated for about 100 thousand yuan totally.Following the order recommendation teacher,I made a loss of more than 20 thousand within a month.In addition,I also witnessed those investors made great loss of several millions.This is totally a fraud platform,full of cheaters.After induction to deposit,they told clients to plunge more money into it and operated with orders.Having profited a little, thy began ordering reverse recommendation and encouraging to buy more,which led to many investors’ great losses.They ignored users’ complaints and continued cheating.I hope you polish your eyes and select platforms carefully.The customer service got rid of the responsibility with excuse of “careful investment ”,refused to handle it and let customers bear themselves.When I complained to the platform, my account was even canceled.Please pay attention to this fraud platform.I hope you avoid being cheated.Remember!!!
This is Prestige’s attitude towards its agent,shielding their unfair operation!
A major data error occurred on the platform, causing customers to change data after placing an order. After restoring the data, orders placed in the wrong data will not be resolved until the account is liquidated.
At the beginning, I was invited into a stock group, where people shared stock advice, and discuss forex and futures from time to time! After the recommendation by the group owner, I joined in the MT4 forex platform, and deposited 20,000 yuan ( standard for getting into the group)! After entering the London gold group, I make orders following the group owner’s strategies. Since losses overweighted profits, some people in the group complained in the group then they were kicked out of the group. And then the group was banned to talk! After entering the London group, there were still one in the stock group who shared an order with profits of thousands of dollars.But not long after, the people who entered the London gold group were kicked out of the stock group! Service fees are very high
Prestige reputation gold salesman in stock and customer to discuss the stock, citing beguiled by their staff to the group, in the studio, shares, said later that the stock is bad operation, fry gold can buy up to buy two-way trade can earn big money on a more flexible, and show golden profit sheet at the same time, to lure us into deposite, and join the VIP a group, and personally take single operation by Mr Li, said can earn at least a few times earnings.Many people in the group said they had made money, and I was cheated into gold 100,000.Following the teacher's order operation, I lost more than 20,000 RMB in less than a month.And I've seen millions of investors who were out of their depth, who put out their orders in groups, and of course more of the people they hired as shillers, and it was a total fraud.Lure investment after opening an account, let the customer increase the amount of gold, and then with a single operation, began small single profit after the next shout anti single, the market is not correct also let add warehouse operation, until the cause of serious losses, leading to a lot of investors so far.Prestige number does not solve user complaints, is still continuing to implement fraud, hope everyone to clear your eyes, carefully choose the platform to do single.Contact with customer service, customer service staff with investment caution four get rid of responsibility, let the customer assume, do not deal with, I later find platform to complain, the result of my account closed door!Do foreign exchange friends must pay attention to, prestige international is a fraud platform, the real fraud platform!The ffaud platform.Hope you are cautious and cautious!Don't fall into a trap again.Remember!!!
Prestige official and agents mutual shirk responsibility, agents for their own violations also quibber
Prestige officially relies on the "for reference only" four-word sophistry! According to their thinking, those who are deceived are willing to be deceived by others, and others have not scammed your money compulsory.
In the middle of July,2019,I was induced into the group by staff of the platform.In the broadcasting room, saying that stock is complicated to operate,while the gold investment is flexible with two-way trading in buying and selling which can bring about big money,he induced me to deposit money and join their VIP group 1,in which teacher Li would instruct us in trading to earn several times of money.Many group members claimed to have earn the money.I was induced to deposit 100,000 yuan in the platform.With the teacher’s instruction, I made a loss of 20,000 yuan within one month.However,in retrospect, they are all pretender and the it definitely is a fraud platform.After making complaints of this platform,my account was canceled by them.I have called the police and appeal you to recover our losses with me and prevent them from continuous fraud! If you are making investments in forex,please be aware of the fraud platform.
Prestige is a real fraud platform. Prestige Gold Trader is the platform’s 25th member. The salesman of Prestige Gold Trader was in the stock trading group. With the cover of inviting clients to discuss stocks, and showing the profitable gold orders, he lured people to open accounts and let the customer increase the deposit amount. Then he gave them order recommendations. At first the investors profited from small orders and then he would give reverse order recommendations. Though the market is not abnormal, he still asked the investors to add positions until they suffered serious losses and forced liquidation. When I contacted with the customer service personnel, they shirked the responsibilities by saying “trade with care”. They let the clients bear the losses and didn’t bother to deal with the problem.That is areal fraud platform! I hope everyone is careful of the scam platform! Prestige Gold Trader does not solve user complaints, and continues to carry out fraud practices. I hope everyone is wise when choosing the platform. In mid-July 2017, I was tricked into the group by their staff, who gave lessons about stocks in a live stream studio. And later they said stocks are not easy to trade, and gold could help you earn a big deal by both buying and selling. They incited us to deposit and joined in a vip group. They said the adviser Mr. Li in the group would give us advice, from which we could earn several times of the capitals. Many people in the group said that they made money. I have been defrauded a total of 100,000 yuan. With the teacher's recommendations, I lost more than RMB20,000 in less than a month. Moreover, I also saw the investors who suffered with a forced liquidation of millions at that time. People who showed profitable orders in the group of course were employee hired by those fraudsters. This is a fraud platform. I later made complain on the platform, but they canceled my account! Friends who are investing forex must pay attention to it. Prestige is a scam platform. Everyone should never be deceived. Remember! ! !
Aspect | Information |
Registered Country/Area | Hong Kong |
Founded year | 5-10 years ago |
Company Name | Prestige |
Regulation | Type AA License regulated by Hong Kong's regulatory agencies |
Minimum Deposit | US$700 |
Spreads | Floating bid-ask spreads |
Trading Platforms | MetaTrader 4 (MT4) for PC and mobile |
Tradable assets | LOCO LONDON GOLD and LOCO LONDON SILVER |
Account Types | Demo Account, Real Account |
Demo Account | Available |
Islamic Account | Not specified |
Customer Support | Customer hotline, fax, email, and 24-hour online service |
Payment Methods | Local deposit, wire transfer, online transfer |
Educational Tools | Market quotes, financial news, Knowledge Base, Encyclopedia |
Overview of Prestige
Overview of Prestige:
Prestige is a licensed institution named 天誉金号有限公司 operating in Hong Kong under a Type AA License regulated by Hong Kong's regulatory agencies. The institution's regulatory status and licensing information indicate that it operates within the regulatory framework established by the authorities. However, caution is advised when dealing with this institution as there have been 24 complaints received by WikiFX in the past 3 months, suggesting a potential risk or scam.
Prestige offers market instruments such as LOCO LONDON GOLD and LOCO LONDON SILVER. These instruments allow investors to engage in trading gold and silver based on prevailing market prices. They provide a platform for investors to buy or sell these commodities. For example, individuals can buy Loco London Gold at a specific price, such as $1926.18, as indicated by the trading data provided.
Prestige offers different account types, including a demo account and a real account. The demo account is a risk-free simulation platform that allows users to practice trading strategies without using real funds. On the other hand, the real account involves actual monetary transactions and carries associated risks. Users deposit real funds and engage in real-time trading activities. The minimum deposit required to open a trading account with Prestige is US$700.
Pros and Cons
Prestige is a licensed institution regulated by Hong Kong's authorities, offering market instruments for gold and silver trading. They provide a demo account for risk-free trading practice and offer multiple deposit methods. The brokerage also provides a comprehensive MetaTrader 4 trading platform and educational resources to enhance precious metals knowledge. Additionally, Prestige offers customer support through a hotline, email, and online message board. However, there have been 24 recent complaints suggesting potential risk or scam associated with Prestige. The reviews of the broker on WikiFX are overwhelmingly negative, accusing fraud and scam. Users have reported high service fees and difficulties in withdrawing funds. There are also allegations of misleading customers with false promises and limited customer support availability. Moreover, Prestige has a high minimum deposit requirement of US$700 and provides limited account types. It is crucial to consider these pros and cons and conduct further research before engaging with Prestige or any financial institution.
Pros | Cons |
Licensed institution regulated by Hong Kong's authorities | 24 recent complaints suggesting potential risk or scam |
Offers market instruments for gold and silver trading | Overwhelmingly negative reviews accusing fraud and scam |
Provides demo account for risk-free trading practice | High service fees reported by users |
Multiple deposit methods available | Difficulties in withdrawing funds reported |
Comprehensive MetaTrader 4 trading platform available | Accusations of misleading customers with false promises |
Educational resources to enhance precious metals knowledge | High minimum deposit of US$700 |
Customer support through hotline, email, and online message board | Limited customer support availability |
Limited account types provided |
Is Prestige Legit?
Prestige, a licensed institution named 天誉金号有限公司 operating under Type AA License regulated by Hong Kong's regulatory agencies, is currently regulated. The institution's regulatory status and licensing information indicate that it operates within the regulatory framework established by the authorities. However, it is worth noting that there have been 24 complaints received by WikiFX regarding this broker in the past 3 months, suggesting a potential risk or scam. Caution is advised when dealing with this institution.
Market Instruments
LOCO LONDON GOLD:
Loco London Gold is a market instrument that holds significant value in the trading industry. Gold, with its rich historical significance, continues to be one of the commodities that witness active trading. Loco London Gold represents the gold traded in the London market, providing investors with the opportunity to engage in gold trading. It serves as a platform for investors to buy or sell gold at prevailing market prices. For instance, individuals can buy Loco London Gold at a specific price, such as $1926.18, as indicated by the trading data provided.
LOCO LONDON SILVER:
Loco London Silver holds immense importance as a market instrument due to its widespread use in various industries. Silver has even been converted into currency in circulation by many countries, further establishing its value as an investment choice. Loco London Silver enables investors to participate in silver trading, allowing them to buy or sell silver based on prevailing market rates. For example, the provided data indicates a buy option for Loco London Silver at a price of $23.09.
Pros and Cons
Pros | Cons |
Provides access to actively traded gold and silver markets | No information on potential risks or limitations |
Represents gold and silver traded in the London market | |
Enables investors to buy or sell gold and silver at prevailing prices |
Account Types
DEMO ACCOUNT: A demo account is a risk-free simulation platform that allows users to practice trading strategies without using real funds or assuming any financial risks. It helps explore the features of a trading platform and learn about market dynamics. Simulated funds are used in a demo account, and it does not support telephone trading systems.
REAL ACCOUNT: In contrast, a real account involves actual monetary transactions and carries associated risks. Users deposit real funds and engage in real-time trading activities, which can result in profits or losses. Real accounts support telephone trading systems. It's important to understand these differences to make informed decisions when engaging in trading or investment activities.
Pros and Cons
Pros | Cons |
Demo account allows risk-free practice of trading strategies | Demo account does not support telephone trading systems |
Real account enables users to engage in actual trading | Real account carries associated risks of monetary transactions |
Real account supports telephone trading systems | The difference between demo and real accounts may be confusing for some users |
How to Open an Account
To open an account with Prestige, follow these steps:
Visit Prestige's website and click on the “Registration” page.
Read and carefully understand all the terms and conditions in the “Customer Agreement” provided. Accept the agreement.
Fill in the required personal information as prompted on the registration form.
Double-check the accuracy of the information you provided and ensure everything is correct.
Click on the “Confirm and Send Information” button to submit your application.
Wait for the account opening review process to be completed.
Once the review is complete, you will receive the result of your account opening application.
Spreads
Prestige offers floating bid-ask spreads, which refer to the difference between the buying (bid) and selling (ask) prices of a trading instrument. The specific numbers for the spreads may vary depending on the market conditions and the trading instrument being traded.
Contract Size
Prestige offers contract sizes for trading instruments such as Spot Gold and Spot Silver. The contract size for Spot Gold is 2 USD, while for Spot Silver, it is 0.2 USD. These specific contract sizes provide traders with a standardized unit for trading these precious metals, allowing them to calculate their positions and manage their risk effectively.
Minimum Deposit
Prestige requires a minimum deposit of US$700 to open a trading account.
Deposit & Withdrawal
Deposit method:
Prestige offers multiple deposit methods to cater to customer preferences. One option is local deposit or wire transfer, which allows customers to remit funds through various channels such as inter-bank transfer, counter remittance, check deposit, ATM deposit, and overseas wire transfer. There are specific beneficiary accounts provided for different banks, including ICBC (Asia) and Bank of China (Hong Kong). Customers are required to include their name and account details on the transaction certificate and submit it via fax or email to the company. Another option is online transfer, which is currently the most popular method. Customers can easily transfer funds through the company's account management system using their bank cards. However, it's important to note that a 5% handling fee applies to online transfer transactions, which can be waived if customers meet certain trading lot requirements.
Withdrawal method:
Prestige strives to provide online withdrawal service in the industry. Customers can apply for withdrawals 24 hours a day through the account management system. The processing time for withdrawals is fast, with funds reaching the customer's account within 1 hour. Additionally, alternative withdrawal methods are available. Customers have the option to fax the completed withdrawal application or email it to the provided contact details. In the case of public holidays, the withdrawal process may be postponed to the next working day. Customers can contact customer service for more information and assistance regarding withdrawals.
Pros and Cons
Pros | Cons |
Multiple deposit methods available, including local deposit and online transfer | 5% handling fee for online transfer transactions, which can be waived under certain conditions |
Fast processing time for withdrawals, with funds reaching the account within 1 hour | Withdrawal process may be postponed to the next working day during public holidays |
Alternative withdrawal methods available, such as faxing or emailing the application | N/A |
Trading Platforms
Prestige offers the MetaTrader 4 (MT4) trading platform for PC, which is a comprehensive system with advanced features. MT4 provides real-time quotes, more than 30 technical indicators, personalized smart strategies (EA), and trading tools, among other functionalities. It is widely recognized as the most popular electronic trading platform due to its cutting-edge technology.
Additionally, Prestige provides a mobile version of MT4, compatible with both Apple and Android systems. Traders can access real-time quotes, execute transactions (including opening, closing, and modifying orders), and stay updated with market news through the mobile platform. MT4 offers easy access to the international precious metal market, enhancing investment opportunities for users.
Pros and Cons
Pros | Cons |
Offers MetaTrader 4 (MT4) trading platform for PC with advanced features | No information provided about the availability of other trading platforms |
Provides real-time quotes and over 30 technical indicators on MT4 | No mention of additional trading tools or features beyond the standard MT4 capabilities |
Mobile version of MT4 available for Apple and Android systems | No details about the specific features or functionalities of the mobile MT4 platform |
Trading Tools
1. MARKET QUOTES:
Prestige provides market quotes for various trading instruments, including precious metals like physical gold. For example, the latest prices of Spot Gold and Spot Silver are available, along with information on price changes and the percentage of change. These quotes are regularly updated to provide traders with the most recent and relevant information for making informed trading decisions.
2. FINANCIAL NEWS:
Prestige offers a range of financial news articles to keep traders informed about the latest developments in the market. The articles cover various topics, such as the analysis and warnings issued by the European Central Bank regarding financial prospects and interest rate changes. Additionally, there are reports on significant events, such as the potential impact of the debt limit crisis and the launch of the Hong Kong Stock Exchange's dual counter trading model. These news updates helps provide traders with valuable insights into market trends and potential trading opportunities.
Educational Resources
Prestige offers educational resources to assist traders in expanding their knowledge and understanding of precious metals investment. One of the resources available is the Knowledge Base, which provides informative articles on various topics. For example, articles discuss what drives the price of gold, highlighting its financial advantages such as fighting inflation and providing stability during political turmoil. There are also articles providing tips for investing in gold, catering to investors seeking stable investments and ways to mitigate risks. Additionally, beginners can utilize the demo account to gain experience in precious metal trading, familiarizing themselves with system operations and learning to set stop losses for adverse price movements.
Prestige also provides an Encyclopedia of precious metals investment knowledge. This resource delves into the two main types of investments: physical and electronic. It explains that physical investment involves buying and selling precious metals based on market optimism. On the other hand, electronic trading involves leveraging market price fluctuations of precious metals, such as gold and silver, to potentially achieve higher returns at a lower cost. The Encyclopedia helps provide introductory knowledge to help investors navigate the precious metals market with confidence.
Customer Support
Prestige offers customer support services to assist traders with their inquiries and concerns. They can be reached through a customer hotline, available from 08:00 to 23:00, with specific numbers for the China area (400 120 9818) and Hong Kong and other regions ((852) 3759 6888). Additionally, there is a fax number ((852) 3759 6800) for communication purposes. Traders can also contact the customer service team via email at cs.support@prestigegroup.com.hk. Furthermore, a 24-hour online service is available through a message board for and accessible support.
Reviews
The reviews of Prestige on WikiFX are overwhelmingly negative, with many users accusing the broker of fraud and scam. Users report losing large sums of money and describe incidents of background manipulation and denial of responsibility. The platform is criticized for misleading customers with false promises and giving reverse order recommendations that result in forced liquidations. There are also complaints about high service fees and difficulties in withdrawing funds. Overall, the reviews paint a picture of Prestige as an untrustworthy and fraudulent broker.
Conclusion
In conclusion, Prestige, operating under Type AA License regulated by Hong Kong's regulatory agencies, appears to be a legitimate institution within the established regulatory framework. However, caution is advised due to the 24 complaints received by WikiFX in the past 3 months, indicating a potential risk or scam. The market instruments offered, such as Loco London Gold and Loco London Silver, provide opportunities for trading in gold and silver. The availability of demo and real accounts allows users to practice and engage in actual trading activities, respectively. Opening an account with Prestige involves a registration process and account review. The spreads offered are floating bid-ask spreads, and the contract sizes for Spot Gold and Spot Silver provide standardized units for effective risk management. The minimum deposit required is US$700, and there are multiple deposit and withdrawal methods available, although a 5% handling fee applies to online transfers. The MetaTrader 4 trading platform, along with its mobile version, offers advanced features and access to the precious metal market. Market quotes, financial news, educational resources, and customer support services are also provided. However, the overwhelmingly negative reviews on WikiFX raise concerns about fraudulent practices, including misleading customers, forced liquidations, high service fees, and difficulties in withdrawing funds. It is important to consider these factors before engaging with Prestige.
FAQs
Q: Is Prestige a legitimate institution?
A: Prestige, operating as 天誉金号有限公司 under Type AA License regulated by Hong Kong's regulatory agencies, is currently regulated. However, there have been 24 complaints received by WikiFX in the past 3 months, suggesting a potential risk or scam. Caution is advised.
Q: What market instruments does Prestige offer?
A: Prestige offers Loco London Gold and Loco London Silver for trading.
Q: What are the different account types offered by Prestige?
A: Prestige offers demo accounts for practice trading and real accounts for actual monetary transactions.
Q: How can I open an account with Prestige?
A: To open an account, visit their website, read and accept the customer agreement, fill in the required personal information, and submit your application for review.
Q: What are the spreads offered by Prestige?
A: Prestige offers floating bid-ask spreads, which vary based on market conditions and the trading instrument.
Q: What is the minimum deposit required by Prestige?
A: Prestige requires a minimum deposit of US$700 to open a trading account.
Q: What deposit and withdrawal methods are available?
A: Prestige offers various deposit methods such as local deposit, wire transfer, and online transfer. Withdrawals can be done online, via fax, or email.
Q: What trading platform does Prestige offer?
A: Prestige offers the MetaTrader 4 (MT4) trading platform for both PC and mobile devices.
Q: What trading tools are available?
A: Prestige provides market quotes and financial news to help traders make informed decisions.
Q: Does Prestige offer educational resources?
A: Yes, Prestige offers a Knowledge Base and an Encyclopedia of precious metals investment knowledge.
Q: How can I contact Prestige's customer support?
A: You can reach Prestige's customer support through their hotline, fax, email, or online message board.
Q: What are the reviews of Prestige?
A: Reviews on WikiFX indicate numerous complaints of fraud and scam, with users reporting financial losses and manipulation by the broker.
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