Is PrimeFX legit?
PrimeFX is an unverified crypto broker with a website full of false information. If you have deposited money with PrimeFX and you suspect that they are not being honest with you, you are most likely being scammed. We’ll be explaining the PrimeFX scam in the coming paragraphs and if you can get your money back.
Many regulated brokers, unregulated companies and investment firms have been found to be scams. Under many circumstances there are avenues in place that are there to protect individuals and help them to get their money back. If the broker is acting in a suspect manner and claims to be regulated make sure you read this.
We can let you know if and how it’s possible to recover your money.
Use a regulated broker like Fortrade. Investing is risky, make sure you are protected.
Is PrimeFX a scam?
Despite what any PrimeFX review has told you, PrimeFX is a suspected scam. We don’t recommend trading with them. If you are already trading with PrimeFX we recommend you immediately cease depositing any amount of funds with them, in particular if they are asking for a fee to withdraw your money. DO NOT PAY IT.
The PrimeFX Team
The PrimeFX executive team as depicted on the PrimeFX website is made up of a CEO, CFO and CMO. While it’s a bit strange to list the names of a company’s executive management team and no other members of the company, it’s even stranger when these individuals don’t actually exist. To be clear, Sir James Dyson, who is listed as the CEO of the company is a real person, however the 74 year old inventor billionaire has absolutely nothing to do with this scammy fly by night crypto scheme and surely would not act as its CEO. The name PrimeFX has never and will never be associated with the likes of the famed vacuum inventor Sir James Dyson. If it wasn’t so nefarious it would seem comical to associate the two.
The PrimeFX website suggests that it is “a technology company focused on research, development and deployment in leading-edge technologies”. Despite the obvious ambiguities in that description and the lack of actual product or project descriptions on its website at all, the website boldly contains images of robots and the term AI Trading Bot.
The PrimeFX Scam
PrimeFX is an unlicensed company and has no accountability.
As more and more reports become confirmed, it will become abundantly clear if PrimeFX is a full blown crypto trading scam. In our experience if the broker is unlicensed and unregulated and it’s made it’s way onto this list, the broker is 99% a scam.
224 Wallace St, Glasgow, G5 8AE
Phone: +44 7880 224735
Is PrimeFX a regulated broker?
Looking for a trustworthy broker who’s actually regulated? Check out our Fortrade Review to see if they’re right for you.
Should I trust an Offshore Broker?
As a matter of practice, one should not trust offshore brokers. Practically all offshore brokers are either Forex scams or Crypto trading scams. In the event that there is an offshore broker that is honest would be the exception that proves the rule. The reason for this is because reliable regulatory bodies such as the FCA and ASIC will not give regulation to these companies. Offshore brokers therefor do not have anyone to hold them accountable. In most cases this is the reason that the company decided to register offshore in the first place.
Looking for a regulated broker? Check out our Fortrade Review to see if they’re right for you.
If PrimeFX has done anything similar to the below items, you are most likely being scammed by PrimeFX.
Legal Signs of a Scam
- The company or broker is not regulated.
- The company or broker is regulated by a foreign regulatory body that is not trustworthy.
- The company is regulated by CySEC. (this is not a sure sign that the company is a scam however many CySec regulated companies turned out to be scams)
- The company has had its license suspended.
Contact us by submitting your information in the form on the page. We’ll let you know as soon as possible how you can get your money back.
Behavioral Signs of a Scam
- The broker has been overly pushy in getting you to deposit your money.
- The broker does not react positively when you ask for a withdrawal.
- The broker does not allow you to withdraw your money.
- The broker has offered you or pushed you to take a bonus.
- The broker has logged into your personal computer.
- The broker is charging you to withdraw your funds.
- Trades have been placed without your consent.
- The company withdrew funds from your account or charged your credit card without permission
- The broker asked for a picture of the front and back of your credit card to be sent by email.
- The broker asked for your government form of ID to be sent in an email or on the website.
- The broker told you to place a trade and then you immediately after lost all or most of your money.
Locations that scam brokers are often found in.
If the broker that you’re dealing with is located in any of the below locations it is reason for concern, as these areas are notorious for hosting Forex scams as well as Crypto and Binary Options scams.
Let us know right away if any of the following is true about your broker.
- The broker is located in Saint Vincent and the Grenadines
- The broker is located in Belize.
- The broker is located in the Commonwealth of Dominica
- The broker is located in the Cook Islands.
- The broker is located in The Marshall Islands.
- The broker is located in Mauritius.
- The broker is located in Seychelles
- The broker is located in Vanuatu.
Know your rights and get your money back. By filling out your information, we’ll be able to advise you right away.
If you are looking for a broker that you can trade with and feel safe with because of regulatory protection, check out our latest review of Fortrade.
Fortrade is regulated by the FCA, ASIC and the IIROC in Canada.
Disclaimer: It is not always possible to recover lost funds. Many cases of recovery scams have been reported where the victim is guaranteed to get their money back. We can assess your case and advise you right away if it’s possible to recover your money. If it is possible we can make a recommendation as to how to go about the process.