Prime Market Forex Broker provides real users with 1 positive reviews, * neutral reviews and * exposure review!
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I really appreciate Prime Markets' service! Whenever I request for withdraw its come so quick without any hassle and their customer service also excellent. Will use it again in the near future.
Summary: Prime Market, an unregulated broker, has garnered significant negative attention due to its dubious practices and lack of transparency. Users report difficulties with withdrawals and questionable trading conditions. The broker claims to offer a range of trading assets but operates under a cloud of suspicion, making it a risky choice for traders.
Attention: It is crucial to note that Prime Market operates across different regions with various entities, which may lead to confusion regarding its legitimacy. Our review strives for fairness and accuracy by consolidating insights from multiple sources.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 4 |
| Customer Service and Support | 2 |
| Trading Setup (or Experience) | 3 |
| Trustworthiness | 1 |
| User Experience | 2 |
Our ratings are based on comprehensive research, user feedback, and expert opinions regarding each broker's performance and reliability.
Established in 2017, Prime Market claims to operate from the UK, although it lacks proper regulation from any tier-one authorities such as the FCA. The broker offers a version of the popular MT4 trading platform, but its functionality is often questioned. Prime Market claims to provide access to various asset classes, including forex, commodities, indices, shares, and cryptocurrencies, but its operational legitimacy is under scrutiny.
Prime Market is unregulated and has received warnings from multiple financial authorities, including the Italian CONSOB and the UK's FCA. This lack of oversight raises red flags for potential investors.
The broker advertises various funding options, including bank cards, wire transfers, and e-payment solutions like Skrill and Neteller. However, the specifics regarding deposit and withdrawal processes remain vague.
The minimum deposit required to open an account with Prime Market is €250, which is relatively standard for the industry but concerning given the broker's unregulated status.
Prime Market offers deposit bonuses ranging from 10% to 100%, but these promotions often come with complicated terms and conditions that may hinder withdrawal capabilities.
The broker claims to support a wide array of trading instruments, including:
However, the lack of access to their trading platform raises questions about the availability and execution of these assets.
Prime Market claims to offer spreads starting from 0 pips, but the authenticity of this claim is dubious due to the absence of a functioning trading platform for verification. Additionally, while they promote 0% deposit fees, withdrawal fees remain undisclosed.
The broker allows leverage up to 1:400 for experienced traders, which is concerning as it violates ESMA regulations designed to protect retail traders.
Prime Market provides access to the Sirix trading platform, which is less recognized than MT4 or MT5. The platform's limitations, such as the absence of social trading features, further diminish its appeal.
Prime Market primarily targets traders from countries with strict regulations, such as the UK, Italy, and Spain, which raises concerns about its operational legitimacy.
Customer support appears to be lacking, with no clear information on the availability of assistance in multiple languages. Users have reported poor customer service experiences, indicating a lack of support when issues arise.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 4 |
| Customer Service and Support | 2 |
| Trading Setup (or Experience) | 3 |
| Trustworthiness | 1 |
| User Experience | 2 |
In conclusion, the Prime Market review paints a concerning picture of a broker operating without proper regulation, transparency, or adequate customer support. Traders should exercise extreme caution and consider more reputable alternatives before investing their money.
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