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PrimeMarketCap foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://primemarketcap.com/register, about the company's legal and temporary regulatory information, the company's address First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, VC0100, St. Vincent and the Grenadines.

PrimeMarketCap Forex Broker

Basic Information

Registered Region

Saint Vincent and the Grenadines

Operating Period

Company Name

PrimeMarketCap

Abbreviation

PrimeMarketCap

Company employee

Customer Service Email Address

support@primemarketcap.com

Company Website

https://primemarketcap.com/

Company address

First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, VC0100, St. Vincent and the Grenadines

Keywords

2-5 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

Company profile

Risk Warning Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only. General Information & Regulation Feature Detail Regulation No regulation Market Instrument Currency Pairs, Indices, Metals, Energies, Futures, and Shares Account Type Classic, Silver, Gold, Platinum and Premium Demo Account N/A Maximum Leverage 1:500 Spread (EUR/USD) 22 pips Commission 0 Trading Platform WebTrader, APP for Mobile and Desktop Minimum Deposit no Deposit & Withdrawal Method credit/debit cards (Visa / MasterCard / Maestro), Bank transfers PrimeMarketCap is allegedly a multi-asset broker incorporated in 2022 and registered in Saint Vincent and the Grenadines that claims to provide its clients with various tradable financial instruments with flexible leverage up to 1:500 and floating spreads on WebTrader, APP for Mobile and Desktop trading platforms via five different live account types, as well as 24/7 customer support service. Here is the home page of this brokers official site: As for regulation, it has been verified that PrimeMarketCap currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.15/10. Please be aware of the risk. Note: The screenshot date is January 11, 2023. WikiFX gives dynamic scores, which will update in real time based on the broker's dynamics. So the scores taken at the current time do not represent past and future scores. Market Instruments PrimeMarketCap advertises that it offers access to a wide range of trading instruments in financial markets, including Currency Pairs, Indices, Metals, Energies, Futures, and Shares. Account Types PrimeMarketCap claims to offer five types of real trading accounts, namely Classic, Silver, Gold, Platinum and Premium, with no minimum deposit requirement. Leverage Leverage is adjusted based on the account type and certain assets. Just take forex as an example, clients on the Classic and Silver accounts can experience leverage of 1:100, while the Gold, Platinum and Premium accounts can enjoy a higher leverage of 1:200, 1:400 and 1:500 separately. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you. Spreads & Commissions All spreads with PrimeMarketCap are a floating type and scaled with the accounts offered. Spreads on the Gold account can be reduced by 20%, while the Platinum and Premium account holders can enjoy a reduction of 30% and 50% respectively. However, as we see on their platform, the EUR/USD spread is 22 pips on average. By contrast, the industry average spread is just 1.5 pips. As for the commission, there is no commission charged. Trading Platform Available Instead of the world's most advanced and popularly-used MT4 and MT5 platforms, PrimeMarketCap gives traders WebTrader, APP for Mobile and Desktop. Anyway, you had better choose brokers who offer the leading MT4 and MT5, which are highly praised by traders and brokers alike due to their ease of use and great functionality, offering top-notch charting and flexible customization options. They are especially popular for their automated trading bots, a.k.a. Expert Advisors. Deposit & Withdrawal PrimeMarketCap says to support credit/debit cards (Visa / MasterCard / Maestro), and Bank transfers. The broker charges no deposit or withdrawal fees. Bonuses PrimeMarketCap claims to offer some bonuses for different account types. For example, 10% for the Silver account, 30% for the Gold account, 50% for the Platinum account, and 100% for the Premium account. However, for a $200 bonus, clients should trade 50 lots (5 million USD in turnover) to become eligible for withdrawals. Customer Support PrimeMarketCaps customer support can be reached by email: support@primemarketcap.com, live chat or send messages online to get in touch. Company address: First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, VC0100, St. Vincent and the Grenadines. Pros & Cons Pros Cons • Multiple trading assets and account types • No regulation • No minimum deposit • Uncompetitive spreads Frequently Asked Questions (FAQs) Q 1: Is PrimeMarketCap regulated？ A 1: No. It has been verified that PrimeMarketCap currently has no valid regulation. Q 2: At PrimeMarketCap, are there any regional restrictions for traders？ A 2: Yes. PrimeMarketCap doesnt accept clients from the USA, Israel, Japan and Russian Federation. Q 3: Does PrimeMarketCap offer the industry-standard MT4 & MT5？ A 3: No. Instead, PrimeMarketCap offers WebTrader, APP for Mobile and Desktop. Q 4: What is the minimum deposit for PrimeMarketCap？ A 4: There is no minimum deposit requirement. Q 5: Is PrimeMarketCap a good broker for beginners？ A 5: No. PrimeMarketCap is not a good choice for beginners. Not only because of its unregulated condition, but also because of its uncompetitive trading costs.

PrimeMarketCap broker review

Is PrimeMarketCap safe or scam

Rating Index

PrimeMarketCap Forex Broker - Complete Information Guide

1. Broker Overview

　　PrimeMarketCap is a forex and CFD broker that commenced operations in 2022. The company is registered in Saint Vincent and the Grenadines, a location often associated with offshore financial services. PrimeMarketCap is a privately held entity and claims to cater to a diverse clientele, including retail traders interested in forex trading and other financial instruments.

　　The brokers primary focus is on providing access to a range of trading products, including currency pairs, commodities, and cryptocurrencies. Since its inception, PrimeMarketCap has aimed to establish itself in the competitive forex market, offering various account types and trading services to attract different trader profiles.

　　PrimeMarketCap operates under the parent company GZ Precision LLC, which is also based in Saint Vincent and the Grenadines. The broker's business model is primarily retail-focused, providing trading services to individual clients rather than institutional investors.

2. Regulatory and Compliance Information

　　PrimeMarketCap operates without any regulatory oversight. It is important to note that the broker does not hold a license from any recognized financial authority. The Saint Vincent and the Grenadines does not regulate forex brokers, which raises concerns about the safety of client funds.

　　The absence of regulatory supervision means that PrimeMarketCap does not adhere to standard practices for financial security, such as client fund segregation or participation in investor compensation schemes. Consequently, clients' funds may be at risk, and there is no formal recourse in the event of financial disputes.

　　In terms of compliance, PrimeMarketCap has not provided clear information regarding its Know Your Customer (KYC) and Anti-Money Laundering (AML) policies, which are essential for ensuring the legitimacy of clients and preventing illicit activities.

3. Trading Products and Services

　　PrimeMarketCap offers a variety of trading products primarily focused on the forex market. The broker provides access to numerous currency pairs, including major, minor, and exotic pairs.

　　In addition to forex, PrimeMarketCap also facilitates trading in Contracts for Difference (CFDs) across various asset classes such as:

Indices
Commodities
Stocks
Cryptocurrencies

　　The broker claims to maintain a diverse selection of trading instruments, which allows traders to diversify their portfolios. However, specific details regarding the frequency of product updates and the introduction of new trading instruments are not readily available.

　　PrimeMarketCap's services are tailored to retail traders, with no mention of institutional trading services or white-label solutions. The broker does not appear to offer asset management services, focusing instead on individual trading accounts.

4. Trading Platform and Technology

　　PrimeMarketCap utilizes a proprietary trading platform, which is web-based and accessible via mobile applications for both iOS and Android devices. However, it does not support the widely recognized MetaTrader 4 (MT4) or MetaTrader 5 (MT5) platforms, which are preferred by many traders for their advanced features and functionalities.

　　The web-based trading platform is designed to be user-friendly, allowing traders to execute trades and manage their accounts seamlessly. However, the lack of industry-standard platforms like MT4 and MT5 may limit the trading capabilities available to users.

　　The broker supports various execution modes, but detailed information about the execution types (such as ECN, STP, or Market Making) is not provided. Additionally, there are no specifics regarding the server locations or the technological infrastructure supporting the trading platform.

5. Account Types and Trading Conditions

　　PrimeMarketCap offers several account types, including Classic, Silver, Gold, Platinum, and Premium accounts. Each account type has distinct features and trading conditions:

Minimum Deposit: The minimum deposit requirement is set at $250.
Spreads: The spreads are floating, with the EUR/USD spread averaging 22 pips, which is significantly higher than the industry average.
Commission: The broker does not charge any commissions on trades.
Leverage: Maximum leverage varies by account type, reaching up to 1:500 for premium accounts.
Minimum Trade Size: Information on the minimum trade size is not explicitly stated.

　　PrimeMarketCap does not offer a demo account, which may limit the ability of new traders to practice before trading with real funds. Additionally, there is no mention of overnight fees or swap policies.

6. Fund Management

　　PrimeMarketCap supports several deposit methods, including:

Bank Transfers
Credit/Debit Cards (Visa, Mastercard, Maestro)

　　The broker does not specify a minimum deposit requirement for different account types, which may appeal to new traders. However, the processing time for deposits is not clearly defined.

　　While PrimeMarketCap claims no deposit fees, the specifics regarding withdrawal methods and any associated limitations are not provided. The withdrawal processing time remains ambiguous, which can be a concern for clients wanting timely access to their funds.

7. Customer Support and Educational Resources

　　PrimeMarketCap provides customer support through various channels, including:

Email: support@primemarketcap.com
Live Chat: Available on the website
Social Media: Not specified

　　The support service operates 24/7, but there is no mention of phone support. The broker primarily supports English, which may limit accessibility for non-English speaking clients.

　　In terms of educational resources, PrimeMarketCap offers limited materials. There are no detailed webinars, tutorials, or in-depth market analysis services available for clients. The broker does provide basic market news and analysis, but the lack of comprehensive educational tools could be a disadvantage for novice traders.

8. Regional Coverage and Limitations

　　PrimeMarketCap primarily serves clients from various regions, but it has specific restrictions in place. The broker does not accept clients from:

United States
Israel
Japan
Russian Federation

　　The geographical limitations may impact the broker's ability to attract a broader client base. Additionally, the absence of regional offices further emphasizes the broker's offshore status and raises concerns about its operational transparency.

　　In conclusion, while PrimeMarketCap presents a range of trading products and services, the lack of regulatory oversight and transparency surrounding its operations is a significant concern. Potential clients should exercise caution and conduct thorough research before engaging with this broker.

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