Search
Prestige Forex broker specializes in providing foreign exchange trading services, the company's official website https://www.prestige..., the company's legitimate regulatory information Hong KongHKGXType AA License to enhance the security of the company's address 35th Floor, Block B, Yijing Center, 1 Hung Kwong Road, Kowloon, Hong Kong, China

Prestige Forex Broker

Basic Information

Registered Region
Hong Kong
Operating Period
--
Company Name
Prestige International Limited
Abbreviation
Prestige
Company employee
--
Customer Service Email Address
cs.support@prestigegroup.com.hk
Company address
35th Floor, Block B, Yijing Center, 1 Hung Kwong Road, Kowloon, Hong Kong, China
Keywords
5-10 years
Regulated in Hong Kong
Type AA License
MT4 Full License
Regional Brokers
High potential risk

Company profile

Prestige Review SummaryFounded2010Registered Country/RegionHong KongRegulationCGSEMarket InstrumentsLoco London Gold, Loco London SilverDemo Account/EUR/USD SpreadFloating from 0.15 pipsLeverage/Trading PlatformMT4Min DepositUS$700Customer Support24/7 live chatTel: 400 120 3582 (China area);(852) 3759 6888 (Hong Kong and other regions)Email: cs.support@prestigegroup.com.hkFacebook, WhatsAppRegistered Address: Flat/Rm E, BLK B, 35/F, Billion Centre, 1 Wang Kwong Road, Kowloon Bay, Hong KongRestricted AreaUnited StatesPrestige Information Prestige International Bullion Limited was established in Hong Kong and mainly offers trading services in Loco London gold and silver, with competitive spread from 0.15 pips and minimum deposit requirement of US$700. Traders are executed on the industry-leading MT4 platform. Commission-free structure also benifits clients a lot. Leverage trading is available, but details about leverage have not been disclosed so far. Furthermore, the broker currently operates under decent regulation from CGSE, which to some extent guarantees customer protection and compliance to industry standard set by the institution. Nevertheless, there are 25 pieces of WikiFX exposure to withdrawal issues, fraud and scams, which indicates unpleasant customer experience with this company that you should pay great attentions of.Pros and ConsProsConsCGSE regulatedHigh minimum depositTight spreadsWikiFX exposuresNo commissionsNo services in the United StatesMT4 platformOvernight fees charged24/7 live chat supportIs Prestige Legit? Prestige is currently regulated by CGSE (The Chinese Gold & Silver Exchange Society) in Hong Kong, with a license numbering at 025, which guarantees legitimacy and credibility in a certain level.Regulated CountryRegulatorCurrent StatusRegulated EntityLicense TypeLicense No.CGSERegulated天誉金号有限公司Type AA License025What Can I Trade on Prestige?Tradable InstrumentsSupportedLoco London gold & silver✔Forex❌Commodities❌Indices❌Stocks❌Cryptocurrencies❌Account Type/Fees Prestige requires a minimum deposit of US$700 to start trading with them. Contract size for spot gold is 100 oz/lot and 5000 oz/lot for spot silver. Limit order distance is USD2 for spot gold and USD 0.2 for spot silver. Spreads are floating, with lowest spread at 0.15 pips and average at 0.21 pips up to Dec 14, 2024. Additionally, Prestige does not charge commissions, reducing trading costs for investors significantly.Interest Rate Prestige automatically rolls over all open positions to the next trading day, applying interest charges or credits based on market conditions. For positions held overnight on Wednesdays, a 3-day interest charge or credit applies.ProductBUY (Dr/Cr)/YearSELL (Dr/Cr)/YearSpot Gold (LLG)-4.00%1.00%Spot Silver (LLS)-4.00%1.00%Trading Platform Prestige claims the use of the industry-leading MetaTrader 4 platform through web, Windows and mobile devices including iOS and Android phones, which allows you to trade anytime, anywhere you want, even on the go. The MT4 platform is renowned and recognized worldwidely for their advanced charting tools and robust functionalitiess such automated transaction execution.Trading PlatformSupportedAvailable DevicesSuitable forMT4✔Web, Windows, iOS, AndroidBeginnersMT5❌/Experienced tradersDeposit and Withdrawal Prestige enables deposits via inter-bank/overseas wire transfers, counter remittance, check deposit, ATM deposit and online transfers. It's noteworthy that the broker charges 5% handling fee for online tranfers, but the fee will be absorbed by the company itself if customer complete 1 lot of liquidation for every 700 USD capital injection.

Rating Index

How to login to Prestige?
Prestige Complete Account Guide: Registration, Account Opening, and Login Processes Part One: Account Registration Process How to Register a Prestige Account Creating a new account on the Prestige platform is a straightforward process. Follow these detailed steps to successfully register: Accessing

  

Prestige Forex Broker - Complete Information Guide

  

1. Overview of the Broker

  Prestige is a forex broker that operates under the name Prestige Financial Markets, established in 2015. The broker claims to be headquartered in Tallinn, Estonia. It is a privately held company that primarily targets retail traders in the forex and CFD markets. Prestige offers a range of trading services, including forex trading, contracts for difference (CFDs), and various asset classes such as commodities and indices.

  Despite its claims of being a leading broker in the industry and having received several awards like "Most Promising Forex Broker 2015" and "Best Forex Service Provider 2017," the company has faced significant scrutiny due to its lack of regulatory oversight. The absence of a valid license raises concerns about its operational legitimacy. Prestige's business model primarily focuses on retail forex trading, offering traders access to a wide array of financial instruments.

  The company has made various claims about its services and operational standards, but the lack of verifiable regulatory compliance casts a shadow over its credibility. As a broker, Prestige aims to provide competitive trading conditions and generous bonuses to attract clients. However, the absence of regulatory backing is a critical factor that potential investors should consider.

  

2. Regulatory and Compliance Information

  Prestige Financial Markets operates without any regulatory licenses, which is a significant red flag for potential investors. The broker has been flagged by various regulatory bodies, including the UK's Financial Conduct Authority (FCA), which issued warnings against the broker in August 2018, stating that Prestige Financial Markets is unauthorized and potentially engaging in regulated activities without proper oversight.

  The lack of a regulatory license means that Prestige does not adhere to the stringent standards set by recognized financial authorities. This absence raises concerns about the safety of client funds and the overall reliability of the broker. The company does not participate in any investor compensation schemes, which would typically provide a safety net for clients in case of insolvency.

  Prestige claims to implement Know Your Customer (KYC) and Anti-Money Laundering (AML) measures; however, without regulatory oversight, the effectiveness and enforcement of these policies remain questionable. The absence of a governing body to oversee these practices further emphasizes the risks associated with trading with Prestige.

  

3. Trading Products and Services

  Prestige offers a variety of trading products, including over 25 currency pairs, stocks, indices, commodities, and precious metals. The broker provides access to both forex and CFD markets, allowing traders to diversify their portfolios across different asset classes.

  The range of forex pairs includes major, minor, and exotic currencies, giving traders the flexibility to choose their preferred trading instruments. In addition to traditional forex trading, Prestige also offers CFDs on various assets, which can include commodities like oil and gold, as well as stock indices.

  Prestige periodically updates its product offerings, although the specifics regarding the frequency of these updates and the introduction of new products are not clearly outlined. The broker primarily focuses on retail trading services, catering to individual traders rather than institutional clients. The absence of white-label solutions or asset management services further indicates its focus on the retail sector.

  

4. Trading Platforms and Technology

  Prestige supports the MetaTrader 4 (MT4) trading platform, which is widely recognized in the forex trading community for its user-friendly interface and extensive features. The broker does not appear to offer a proprietary trading platform, relying instead on MT4 to deliver its trading services.

  The web-based trading platform is accessible and allows traders to execute trades directly from their browsers. Additionally, Prestige offers mobile applications for both iOS and Android, enabling traders to manage their accounts and execute trades on the go.

  Prestige operates on an ECN (Electronic Communication Network) model, facilitating direct access to the interbank market. This model is designed to provide faster trade execution and better pricing. The broker's technical infrastructure is reportedly robust, with servers located in strategic locations to ensure minimal latency during trading.

  However, specific details regarding API access and support for automated trading are not explicitly mentioned, which may limit traders looking for advanced trading solutions.

  

5. Account Types and Trading Conditions

  Prestige offers a variety of account types designed to cater to different trading needs. The standard account requires a minimum deposit of $500, with spreads starting at 4 pips. The broker also provides options for premium and VIP accounts, although the specific conditions and benefits of these accounts are not clearly defined.

  For traders looking for specialized accounts, Prestige does not explicitly mention the availability of Islamic accounts or corporate accounts, which may limit options for certain traders. The leverage offered by Prestige is among the highest in the industry, reaching up to 1:100 for various products.

  The minimum trade size is typically 0.01 lots, allowing for flexible trading strategies. Prestige has not provided clear information regarding overnight fees or swap rates, which is crucial for traders who hold positions overnight.

  

6. Fund Management

  Prestige supports a variety of deposit methods, including bank transfers, credit cards, and electronic wallets. The minimum deposit requirement varies depending on the account type, with the standard account requiring at least $500 to open.

  Deposits are processed relatively quickly, usually within a few hours, although specific processing times may vary based on the method used. Prestige does not charge deposit fees, making it easier for traders to fund their accounts without incurring additional costs.

  Withdrawal methods are similar to deposit options, but traders have reported challenges in processing withdrawal requests, which raises concerns about the broker's reliability. The typical processing time for withdrawals can take several days, and there have been complaints regarding delays and unresponsive customer service.

  The fee structure for withdrawals is not clearly outlined, which can lead to confusion among traders attempting to manage their funds. Overall, the lack of transparency in fund management practices is a significant concern for potential clients.

  

7. Customer Support and Educational Resources

  Prestige offers customer support through various channels, including phone, email, online chat, and social media. The support team is reportedly available during business hours, but specific time zones and operational hours have not been disclosed.

  The broker provides support in multiple languages, although the exact languages offered are not specified. This could limit accessibility for non-English speaking clients.

  In terms of educational resources, Prestige offers a range of materials, including webinars, tutorials, and eBooks to help traders improve their skills. Market analysis services are also available, providing traders with daily updates, news, and research reports to aid in their trading decisions.

  Additionally, Prestige offers various trading tools, such as calculators and economic calendars, to assist traders in their market analysis and strategy development.

  

8. Regional Coverage and Restrictions

  Prestige primarily serves clients in Europe and Asia, with a focus on retail traders. The broker has established a presence in these regions, although specific details about regional offices are not provided.

  However, Prestige does not accept clients from certain countries, including the United States and Canada, due to regulatory restrictions. This limitation may affect potential clients looking to engage with the broker from these jurisdictions.

  Overall, the lack of transparency regarding regional operations and restrictions may deter some traders from choosing Prestige as their broker.

  In conclusion, while Prestige offers a range of trading products and services, the absence of regulatory oversight, along with reported issues related to fund withdrawals and customer support, raises significant concerns. Potential clients should carefully consider these factors before deciding to trade with Prestige.

Prestige Similar Brokers

Regulated
CHIEF
Having a license
7.19
Score
Regulated
Shin
Having a license
7.98
Score
Regulated
Allianz
Allianz Forex Broker - Complete Information Guide   1. Broker Overview   Allianz
7.04
Score
Regulated
GMI
GMI Forex Broker - Complete Information Guide   1. Broker Overview   Global Mark
7.50
Score
Regulated
AB
AB Forex Broker - Complete Information Guide   1. Broker Overview   AB Forex, es
7.21
Score
Regulated
Lightyear
Having a license
4.79
Score
Regulated
XM
Having a license
9.10
Score
Regulated
OANDA
Having a license
8.50
Score
Regulated
CF
CF Broker - Complete Information Guide   1. Broker Overview   CF Broker, establi
5.99
Score
Regulated
Solid
Having a license
5.86
Score
Regulated
OTT
OTT Forex Broker - Complete Information Guide   1. Overview of the Broker   OTT
6.06
Score
Regulated
Akatsuki
Having a license
7.98
Score
Regulated
BOOM
Having a license
5.75
Score
Revoked
CENTRAL
No license plate
5.15
Score
Regulated
TG
Having a license
7.21
Score
Revoked
IB
No license plate
8.20
Score
Regulated
AXEL
Axel Forex Broker - Complete Information Guide   1. Broker Overview   Axel Priva
8.34
Score
Regulated
Invesco
Invesco Forex Broker - Complete Information Guide   1. Broker Overview   Invesco
7.75
Score
Regulated
NAGA
Having a license
6.56
Score
Regulated
WWF
Having a license
5.89
Score
Regulated
eToro
Having a license
7.81
Score
Regulated
Deutsche Bank
Deutsche Bank Forex Broker - Complete Information Guide   1. Overview of the Bro
7.15
Score
Over-Operation
CERES
No license plate
5.08
Score
Regulated
WESTERN
Western Forex Broker - Complete Information Guide   1. Broker Overview   Western
7.88
Score
Regulated
HL
Having a license
6.90
Score
Offshore Regulated
FBS
Having a license
8.79
Score
Regulated
IQ Option
Having a license
5.47
Score
Revoked
CLC
No license plate
5.65
Score
Regulated
Capex
Having a license
5.67
Score
Regulated
Vantage
Having a license
8.66
Score
Regulated
Trading
Trading Brokers - Comprehensive Information Guide   1. Broker Overview   Company
7.23
Score
Regulated
IMC
Having a license
7.16
Score
Regulated
Topmax Global
4.53
Score
Regulated
CFE
Having a license
7.05
Score
Regulated
WB
Having a license
6.37
Score

Latest Reviews

FX4201950972

FX4201950972

Hong Kong

On October 23rd, 2024, I opened a trading account with Tianyu Financial Company. On the 24th, I deposited $29,998 and initially suffered losses. However, under the guidance of a mentor, I turned these losses into profits and by mid-December, I withdrew a total of $42,136. On January 8th, 2025, sensing another opportunity in the gold market, I added $20,000 to the account. Despite the initial struggles, I managed to win around $2000. On March 7, under a friend's guidance, I made 6 trades; won 5, lost 1. During the 7th trade, I placed an order with 10 lots, but the order vanished after 2 minutes. The company forcefully closed my trade. Panicked, I reached out to my friend who advised me to stop trading as the company was altering my trades illegally, indicating suspicious trading behavior. On March 10th, I attempted to withdraw my funds but was denied due to "suspicious trading activity". On March 13th, my friend accompanied me to Tianyu's office in Jiulong Bay Yijingxin Building, 35th Floor. Despite identifying myself as a client, the company refused to assist me until the police got involved. They pushed our meeting to March 24th, as the boss was away. On the 24th, we arrived at the Tianyu office on time. I was taken into a room, asked to turn off my phone and scanned with a metal detector. A group of men came in and started discussing IP logs and criticizing me for using both phone and computer for trading - it felt like intimidation. I broke down when they tried to force me to sign an agreement, stating that I would only receive $4979 - clearly unacceptable considering my initial deposit with profits amounted to $34,000. Before signing anything, I walked out of the building and called the police again. Upon police intervention, the company made slight adjustments to the agreement, stating I had to wait for one month while they investigate my trading. 1. As a regular client, I wasn't aware of what constituted "suspicious trading". The company didn't clarify this, yet withheld my withdrawal, including my principal. 2. It seems illegal that they forcefully closed my trade during my last transaction. 3. If the company suspected my trades, why didn't they halt my account earlier? Is it because I was winning? Is this not fraud?

Exposure

04-29

怀旧服给接货

怀旧服给接货

Hong Kong

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.

Exposure

2024-03-01

村头大明白

村头大明白

Nigeria

Prestige has many years’ experience and regulatory license. The MT4 platform they offer is extremely user-friendly and has helped me make informed trading decisions. I have a very good trading experience here and would recommend this broker to anyone looking for a reliable and professional trading partner.

Positive

2023-03-24

Prestige Forex Broker has an overall rating of 6.58, Regulatory Index 7.15, License Index 7.15, Business Index 7.71, Software Index 8.62 Risk Control Index 0.00.