Prime Group: customer reviews about the company’s performance in 2024
Prime Group is a company that has attracted the attention of financial regulators and other supervisory authorities due to alleged dishonest activities. Often their websites are blocked, but the creators constantly find ways to bypass restrictions and continue to operate. One such questionable intermediary is Prime Group, which we will discuss in our review.
General information about Prime Group
Today, the official website of Prime Group is under a ban, but reviews from real users, overviews, and screenshots of the site can be found on the internet. After our comprehensive analysis, we are ready to present the main facts that will help you make an informed decision about collaborating with this company.
According to statements, more than 52,000 users from different countries use the company’s services, and its trading volume exceeds $97 million. WHOIS data shows that primegroup.global was registered at the end of September 2023 (with a “blocked” status). This is a new project that has only been in existence for a few months but has already caused many problems, as evidenced by reviews from former clients.
The company’s contact information includes a fake email address. Attempts to contact this address are futile. Additionally, the specified address in the USA actually belongs to other organizations. Prime Group exists solely online.
Regulation and Licensing
On the main page of Prime Group, it is stated that the company is regulated by FISEU. This is a non-existent supervisory body that protects scammers. The network is full of negative reviews from deceived traders. Considering the declared location in the USA, Prime Group should have obtained certification and a license there first. However, the database of the American regulator SEC does not contain information about the company. Scammers provide brokerage services without permission and can disappear with your funds at any time.
Collaborating with an illegitimate broker opens the way to financial losses. Such organizations are not afraid of license revocation and prosecution by regulators. The deceived client will have to seek help from professional lawyers and use chargeback services to attempt to recover their money.
Terms of cooperation with Prime Group
Prime Group is a fraudulent company offering CFD trading. The features of their commercial offer include:
- Minimum deposit – $1,000.
- 6 tariff plan options to choose from.
- Use of WebTrader as a trading platform.
- Some tariffs include access to a private channel with an account manager and trading signals.
- Payment methods – credit/debit cards, cash (details of how this option works are not explained).
The company does not specify the size of spreads, leverage levels, the presence of swaps. Also, the platform does not provide information on the execution time of trades, commission expenses, and payout procedures.
Customer reviews
There are many negative reviews about Prime Group online because this suspicious intermediary does not show any intention to conduct honest activities. We recommend studying the feedback to draw your own conclusions.
Fraudulent operating scheme
Scammers individually deceive users. Immediately after registration, a new client is forcibly assigned a mentor who should help with trading but actually pursues completely different goals. He will convince you to invest funds and deplete your budget, using technical malfunctions on the platform or abnormal spreads. The longer the client stays on the site, the more they will lose.
Conclusions
We do not recommend starting trading on the Prime Group platform. This is a second-rate company that has attracted the attention of supervisory authorities and received many negative reviews. For the safety of your funds, we recommend turning to a trusted broker. Otherwise, you risk being left without money.
My experience with Prime Group in 2024 was rather underwhelming. Despite their renowned reputation in the industry, the customer service I received was shockingly poor. Communication with the broker was an uphill battle – they took forever to respond to my queries, and when they eventually did, the responses were vague and confusing. The fees were also higher than initially promised, with various hidden charges appearing without any prior warning. My investment returns were not as high as I was led to believe, making me question their proficiency. Overall, I’m left feeling deceived and disgruntled. A big thumbs down from me.