IS Prime Forex Broker provides real users with * positive reviews, 1 neutral reviews and * exposure review!
Business
License
FCA Exceeded 
On one hand, they keep reaching out to me, but on the other hand, their product offerings are incredibly limited. I'm not sure what their goal is, but it's clear that their services don't align with my interests. While I appreciate their persistence, I'd rather work with a trading platform that offers a wider range of options and better caters to my needs as a trader.
In this review, we delve into the various aspects of the forex broker "Is Prime," analyzing user feedback, expert opinions, and factual data from multiple sources. The overall sentiment regarding Is Prime is predominantly negative, with significant concerns about its regulatory status and user experiences. Key findings highlight that Is Prime is unregulated and has been associated with fraudulent practices, raising red flags for potential investors.
Note: It is imperative to understand that there are multiple entities operating under similar names, which can lead to confusion. This review aims to provide a fair and accurate assessment based on available information.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 2 |
| Tools and Resources | 3 |
| Customer Service | 2 |
| Trading Experience | 3 |
| Trustworthiness | 1 |
| User Experience | 2 |
| Regulatory Compliance | 1 |
We evaluate brokers based on user reviews, expert opinions, and factual data.
Established in 2018, Is Prime presents itself as a forex and CFDs broker, claiming affiliation with the ADS Da Hui Group and ADS Securities LLC, which is registered in the UAE. However, it is crucial to note that Is Prime lacks any regulatory oversight from reputable authorities such as the FCA in the UK or ASIC in Australia. The trading platform is not clearly specified in the available information, and there are concerns regarding the types of assets that can be traded.
Is Prime operates in a non-regulated environment, which is a significant concern for potential traders. According to multiple sources, including 55Brokers, the broker has been labeled as a "clone firm," using the credentials of a legitimate entity to mislead traders. The FCA has issued warnings against Is Prime, indicating that it is not authorized or registered, and has been targeting individuals in the UK under false pretenses. This lack of regulatory oversight poses a considerable risk for investors, as there is no governing body to protect their interests.
The review of Is Prime indicates a lack of transparency regarding deposit and withdrawal methods. While specific currencies and cryptocurrencies are not detailed, it is noted that the broker has faced complaints regarding withdrawal difficulties. Reports suggest that users have experienced significant issues when attempting to withdraw funds, raising concerns about the broker's reliability and operational practices.
Is Prime reportedly requires a minimum deposit of around $50, which is relatively low compared to many regulated brokers. However, the low entry barrier does not compensate for the absence of regulatory oversight, which is a critical factor in determining a broker's trustworthiness.
Information regarding bonuses or promotions at Is Prime is scarce, with no clear offerings highlighted in the reviews. This lack of promotional activity could indicate a focus on attracting clients without providing substantial incentives, which is often a tactic employed by less reputable brokers.
The specific asset classes available for trading with Is Prime are not well-documented in the sources reviewed. However, it is indicated that the broker offers forex and CFDs, which are standard offerings in the industry. The absence of detailed information about available trading instruments is concerning and suggests a lack of transparency.
There is limited information regarding the costs associated with trading on Is Prime. The lack of clarity on spreads, fees, and commissions raises additional red flags, as reputable brokers typically provide transparent pricing structures. Without this information, potential traders cannot accurately assess the cost-effectiveness of trading with Is Prime.
The leverage options available through Is Prime have not been explicitly stated in the reviewed sources. This omission is critical, as leverage plays a significant role in forex trading, impacting both potential gains and losses. The absence of this information further adds to the uncertainty surrounding the broker.
Is Prime does not clearly specify the trading platforms it supports. Many brokers offer popular platforms like MT4 or MT5, which are favored by traders for their advanced features and user-friendly interfaces. The lack of information on this front is another indication of the broker's opaqueness.
The geographical restrictions for Is Prime are not well-defined in the available data. However, given its unregulated status, it is likely that the broker operates in a manner that could limit its appeal to traders in certain jurisdictions, particularly those with stringent regulatory environments.
The available information does not specify the languages supported by Is Prime's customer service. This lack of clarity could pose challenges for non-English speaking traders seeking assistance.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 2 |
| Tools and Resources | 3 |
| Customer Service | 2 |
| Trading Experience | 3 |
| Trustworthiness | 1 |
| User Experience | 2 |
| Regulatory Compliance | 1 |
Account Conditions: With a minimum deposit of $50, Is Prime's account conditions appear attractive at first glance, but the lack of regulation significantly diminishes their appeal.
Tools and Resources: The resources available to traders are minimal, with no clear trading platform or tools highlighted.
Customer Service: User feedback indicates poor customer service, with numerous complaints about withdrawal issues and lack of support.
Trading Experience: The absence of detailed information on trading conditions and costs leads to a poor trading experience.
Trustworthiness: The lack of regulation and numerous warnings from financial authorities make Is Prime highly untrustworthy.
User Experience: Overall user experiences have been negative, with many reporting difficulties in accessing their funds and poor support.
In conclusion, the Is Prime review reveals significant concerns regarding its legitimacy and operational practices. Potential traders are strongly advised to exercise caution and consider regulated alternatives to safeguard their investments.
