Prime-stocks is another forex broker that plays loose as regards to the information it provides. In the review below, we take an in-depth look at the features prime-stocks.com allegedly offers. This review answers the questions: is prime stocks legit? Is prime-stocks reliable? The review covers aspects of its 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 the prime-stocks.com.
Table of Contents
Prime-stocks Trading Platform
At first glance we discover that this broker doesn’t broker support neither the MT4 nor the MT5 trading platform. They use a web-based platform to offer assets such as Forex (with leverages up to 1:100) CFDs, Indices, Stocks, and Precious metals.
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Prime-stocks 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 how a broker might work.
After checking, we discovered that this broker has three account types.
Prime Stocks 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.
PrimeStocks claims to accept payments via credit cards like VISA and MasterCard, as well as bank wire.
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 to be eligible for withdrawal. They do this to stop traders from making a withdrawal.
Prime-stocks Licensed?
Licensing is another important part because we can trust a regulated broker 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 regulates said brokerage.
Aside from the fact that primestocks doesn’t give any licensing information, we cannot ignore the fact that this Broker resides in the Marshall Islands. Marshall Islands is a place that attracts shady brokers because of their lack of proper licensing laws and a regulatory body.
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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
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Licensed in UK(FCA), Australia(ASIC), Belarus(NBRB) and Canada(IIROC)
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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
In fact checking this broker, we found that many of its claims were false or unverifiable. We can’t confirm their location, and also, there is a lack of transparency in depositing funds and even a foggier and non-explained process of withdrawing. We don’t advise you to invest with this broker, any attempts to do so we lead to loss of your funds.