Primaryfxmarkets.com Review: Primary FX Markets is another forex broker that plays fast and loose as regards to the information it provides. In the review below, we take an in-depth look at the features primaryfxmarkets.com allegedly offers. This review basically answer the questions: is primaryfxmarkets legit? Is primaryfxmarkets licensing, its account types, its leverages, its withdrawal and deposit methods. Read through our review to see what we and other experts have to say about primaryfxmarket.
Table of Contents
PrimaryFXmarket Trading Platform
This broker claims that it is owned by a Cypriot licensed company called FP Asset Management Cyprus LTD, with a license number of 317/117.
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It claims to offer CFD and also doubles as an asset management broker that offers a spectrum of trading accounts.
All these claims are a lie, this broker is doing something known as cloning websites to pass off as a legitimate broker
PrimaryFx markets Account Types
In this portion of the review, we aim to explore the account types a broker might have. We check the account with its corresponding deposit and leverage. Doing this gives a clearer idea as to how a broker might work.
After thoroughly checking we discovered that this broker has
PrimaryFX markets Deposit and Withdrawal Methods
Deposit and withdrawals are the two most important transactions for us, because the end goal of trading is making a profit. In this section, we look at these methods to make sure everything is okay with it.
The payment section only provides a bitcoin address for funding. We do not advice you to send any to them as transactions with bitcoin are hard if not impossible to trace or reverse.
Another thing to keep in mind is that there might also be withdrawal conditions concerning accounts that take advantage of the bonus promotion. Some fraudulent brokers stipulate that a trader must achieve a certain trading volume in order to be eligible for withdrawal. This is purposefully done in order to stop traders from making a withdrawal.
Check out our review of another unlicensed broker, SwissMarketindex
Is PrimaryForexMarkets Licensed?
Licensing is another important part, because a regulated broker can be trusted to some extent not to do anything fraudulent. We do this part of the review by first checking the name of the company attached to the broker. Then we run that name through various regulatory bodies to discover if it is actually regulated.
Like earlier mentioned this broker has tried to rip off another legitimate broker’s information to appear like the real deal.
So when we checked the registry of the CySEC in Cyprus,to see that FP Asset Management Cyprus LTD is truly registered and regulated by CySEC, but PrimaryFxMarkets has no affiliation with the above named company
Traders should always ascertain if a broker is licensed before investing in them. They should check regulatory bodies such as the FCA in UK, ASIC in Australia, CySEC in Cyprus, BaFin in Germany, CONSOB in Italy and many others.
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Accounts
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Licensed in UK(FCA), Dubai(DFSA), St Vincent and the Grenadines, Cyprus(Cysec) and Cayman Islands
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
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Licensed in UK(FCA), Australia(ASIC), Belarus(NBRB) and Canada(IIROC)
Accepts Traders Worldwide
Minimum Trade Deposit $100
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Licensed in Australia(ASIC) and Cyprus(Cysec)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
Conclusion
We wouldn’t recommend using the services of this clones website, we are not impressed with the vague and copied information they have provided.
In conclusion, we wouldn’t advise or recommend you to trade with intercryptos.net as they don’t give any valid information concerning if they are a regulated broker.
Primaryfxmarkets.com is likely a platform run by scammers, trading with them would likely result in you losing your money. There is a tremendous risk on any transactions interested traders may conclude with the brokerage and we deeply recommend they look elsewhere for viable trading option.