FxPrimeBolt Spreads, leverage, minimum deposit Revealed

WikiFX | 2022-11-14 16:17

Abstract：FxPrimeBolt says to be a crypto currency and Forex trading platform that uses Artificial Intelligence (AI) to generate profit, licensed both in the United Arab Emirates and by the Financial Conduct Authority (FCA) in the UK And FxPrimeBolt also says that they guarantee 90% success of all of your trades and 10% weekly profit. Sounds great？ If you think so, we strongly advice you to read the following review. FxPrimeBolt lies about being regulated, and their website bears all the hallmarks of a scam.FxPrimeBolt is not a legit broker, but a scam website, which falsely claims to be regulated in the UK. As far as we understand from the presentation, FxPrimeBolt is owned and operated by Fxprime liquidity Limited, a company supposedly based in the UK and regulated by the local Financial Conduct Authority (FCA). And they even provides a FCA license number, which when check it was found in the registers of the Authority. As it turned out, the license number – 672683 – belongs to a completely di

　　GENERAL INFORMATION

　　FxPrimeBolt says to be a crypto currency and Forex trading platform that uses Artificial Intelligence (AI) to generate profit, licensed both in the United Arab Emirates and by the Financial Conduct Authority (FCA) in the UK

　　And FxPrimeBolt also says that they guarantee 90% success of all of your trades and 10% weekly profit. Sounds great？ If you think so, we strongly advice you to read the following review. FxPrimeBolt lies about being regulated, and their website bears all the hallmarks of a scam.FxPrimeBolt is not a legit broker, but a scam website, which falsely claims to be regulated in the UK.

　　As far as we understand from the presentation, FxPrimeBolt is owned and operated by Fxprime liquidity Limited, a company supposedly based in the UK and regulated by the local Financial Conduct Authority (FCA). And they even provides a FCA license number, which when check it was found in the registers of the Authority. As it turned out, the license number – 672683 – belongs to a completely different company – Capital Cooling Limited, which has absolutely nothing to do with FxPrimeBolt.

　　This basically means that what we have here is a scam website, illegally using the license details of a legit and regulated FCA company. FxPrimeBolt also says that their so called Artificial Intelligence Robot is developed by Prime Bot Technology Limited, and licensed by the Ministry of Artificial Intelligence of UAE.

　　In any case, for a broker to be legally authorized to offer financial services, both in the UK and the UAE, it should be duly licensed by the respective local financial authorities – be it the British Financial Conduct Authority, or the Central Bank of the United Arab Emirates, and not by the Ministry of Artificial Intelligence, whatever they might be up to.

　　FxPrimeBolt is a scam website and an unregulated broker, so they are not bound by these rules and policies. Any claims regarding the good trading conditions and tight spreads they offer or the safety of clients funds are not guaranteed by any regulatory agency, so we would warn our readers that there might be a risk to their money if invested with this broker.

　　ACCOUNT AND LEVERAGE

　　They offer a choice of five account types on a web based platform, leverage as high as 1:1000, and 120 trading instruments to chose from, including forex pairs, stocks, precious metals, commodities and crypto coins. The minimum deposit requirement at FxPrimeBolt is 300 USD.

　　As for the rest of the account types – the Bolt Two, the Bolt Three, the Bolt Four, and the Bolt Five FxPrimeBolt requires 2000 USD, 5000 USD, 20 000 USD and 50 000 USD respectively. FxPrimeBolt says to offer leverage as high as 1:1000, but since they are an obvious scam, you don't have to worry about that.

　　TRADING INSTRUMENTS

　　FxPrimeBolt is a broker that offers trading in Forex, Stocks, Commodities and Cryptocurrencies

　　TRADING PLATFORM

　　Regarding the trading platforms offered there are more misleading claims. The broker‘s Download and Mobile web pages supposedly have links to get their “world’s leading platform” which is “the industry standard in online forex trading” for different operating systems. All the links, however, simply open the same page in a new tab.The Mobile page also promises “no commissions” and “no hidden fees”, but there are no links to the app stores.

　　We advise our readers to select a broker that offers an established trading platform, such as the MetaTrader 4 (MT4) or the MetaTrader 5 (MT5). MT4 is the worlds number one platform, preferred by more than 80% of users worldwide. It offers an intuitive and user-friendly interface, advanced charting and analysis tools, as well as copy and auto-trade options.

　　DEPOSIT AND WITHDRAWAL METHOD

　　FxPrimeBolt says to accept payments with a great variety of e-wallets, including Perfect Money, WebMoney, Payeer, AirTm, Neteller, Skrill, Payza and PayPal, as well as bank wire transfers, bitcoins, and credit cards likeV ISA and MasterCard. Since there was no option to pay with credit cards however, here you may also check our list of brokers, which do accept VISA and MasterCard. And take our advice and never pay online brokers in crypto coins.

　　CUSTOMER SERVICE

　　FxPrimeBolt has a United Arab Emirates address but no phone number on their Contact page. UAE is one of the most heavily regulated Middle Eastern jurisdictions.