Climax Prime Forex Broker provides real users with 2 positive reviews, * neutral reviews and * exposure review!
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****** Prime is one of the best forex brokers. They work with various currencies. They have great customer support with personalized service with your account manager. Highly recommended!
As a beginner, I have been trading with ****** Prime for one month, and I did make some profits. I recommend this broker to your guys. Just have a try.
Summary: Climax Prime has garnered a largely negative reputation among traders, primarily due to its unregulated status and numerous complaints regarding withdrawal issues and customer service. Established in 2021, this offshore broker promises a variety of trading opportunities but raises significant concerns about the safety of funds and overall trustworthiness.
Note: It's important to recognize that Climax Prime operates under various entities across different jurisdictions, which complicates its regulatory oversight. This review aims to provide a balanced view based on multiple sources to ensure accuracy and fairness.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 5 |
| Customer Service and Support | 2 |
| Trading Settings | 4 |
| Trustworthiness | 1 |
| User Experience | 3 |
How We Rate Brokers: Our ratings are based on comprehensive research and analysis of user feedback, expert opinions, and factual data.
Climax Prime was established in 2021 and is registered in Saint Vincent and the Grenadines. The broker claims to offer a transparent trading environment with access to multiple financial markets. Climax Prime utilizes the popular MetaTrader 5 platform, providing traders with a user-friendly interface and various trading tools. However, the lack of regulatory oversight raises serious concerns about the safety of client funds and the integrity of trading practices.
Climax Prime operates without any legitimate regulatory oversight, which is a significant red flag for potential investors. The broker is registered in Saint Vincent and the Grenadines, a jurisdiction known for its lax regulatory framework. Multiple sources indicate that the local financial authority does not issue licenses for forex trading, which means that Climax Prime is not regulated by any recognized financial authority. This lack of regulation poses substantial risks to traders, as there is no assurance of fund protection or recourse in case of disputes.
Climax Prime offers a variety of deposit and withdrawal options, including credit/debit cards, bank transfers, and several e-wallets like Skrill and Neteller. Additionally, the broker accepts cryptocurrencies such as Bitcoin and Ethereum. The minimum deposit requirement is relatively low, starting at $10 for a cent account, which can attract novice traders. However, many users have reported difficulties in withdrawing their funds, with complaints about delayed processing times and unresponsive customer service.
The minimum deposit at Climax Prime varies by account type. For the cent account, traders can start with as little as $10, while the standard account requires a minimum of $100. The ECN account, designed for more experienced traders, has a minimum deposit of $500, and the prime account requires $5,000. This tiered structure allows for a wide range of traders, but the low entry point may also attract those who are inexperienced.
Climax Prime reportedly offers various promotions, including trading bonuses. However, the terms surrounding these bonuses are often vague, leading to concerns that they may be used as a tactic to prevent withdrawals. Many users have expressed frustration with the unclear bonus policies, which can create barriers to accessing their funds.
Climax Prime provides access to a diverse range of trading instruments, including over 40 forex pairs, commodities, indices, and precious metals. This variety allows traders to diversify their portfolios and engage in different market strategies. However, the absence of cryptocurrencies as a tradable asset is noted as a downside, especially as the crypto market continues to grow in popularity.
The cost structure at Climax Prime varies across account types. The cent and standard accounts are commission-free but come with higher spreads, starting at 1.2 pips. The ECN account offers lower spreads, beginning at 0.6 pips, but charges a commission of $6 per lot. The prime account has even tighter spreads, starting from 0.1 pips, with a commission of $5 per lot. Overall, while the cost structure is competitive, the high spreads for lower-tier accounts may deter some traders.
Climax Prime offers leverage up to 1:500, which is significantly higher than what is permitted in many regulated jurisdictions. While high leverage can amplify potential gains, it also increases the risk of substantial losses, particularly for inexperienced traders. Experts often recommend using lower leverage levels to mitigate risk.
Climax Prime primarily operates on the MetaTrader 5 platform, which is widely recognized for its advanced trading features and user-friendly design. The platform supports automated trading through Expert Advisors (EAs) and offers various order types. Additionally, the mobile version of MT5 allows traders to manage their accounts on the go, enhancing accessibility.
Climax Prime does not accept clients from certain countries, including the USA, UAE, and Turkey. This restriction may limit its market reach but is common among brokers operating in jurisdictions with strict regulatory environments.
Climax Prime claims to offer customer support in multiple languages, including English, Arabic, Turkish, and Russian. However, user reviews often highlight dissatisfaction with the quality of customer service, citing slow response times and unresolved issues.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 5 |
| Customer Service and Support | 2 |
| Trading Settings | 4 |
| Trustworthiness | 1 |
| User Experience | 3 |
The tiered account structure at Climax Prime offers flexibility but comes with high spreads for lower-tier accounts, which may not be suitable for all traders.
While Climax Prime provides access to MT5 and various educational resources, many users report technical issues that hinder their trading experience.
User feedback indicates that customer service is a significant weakness for Climax Prime, with many complaints about unresponsive support.
The trading environment is marred by reports of manipulation and technical issues, which can impact overall trading performance.
The lack of regulation and numerous negative reviews severely impact Climax Prime's trustworthiness, making it a risky choice for traders.
Overall user experience is mixed, with many traders reporting initial satisfaction that quickly turned into frustration due to withdrawal issues and poor customer service.
In conclusion, Climax Prime presents significant risks for potential traders, primarily due to its unregulated status and numerous negative user experiences. It is advisable for traders to consider more reputable, regulated brokers to ensure the safety of their investments.
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