Detailed review of the FXPrime365 broker: traders’ reviews and scam scheme
Information page “Detailed review of FXPrime365: traders’ opinions and interaction strategies”
Official introduction to FXPrime365
The broker FXPrime365 appeared in the online space on August 21, 2018, however, its journey is not without negative feedback from traders who have encountered issues on the platform fxprime365.com. The company offers clients favorable conditions, but its reputation leaves much to be desired. In this review, we will examine the features of the firm’s operations, read investors’ opinions, and thoroughly study the reasons for negative reviews.
Analysis of the FXPrime365 licensing agreement
Let’s talk about the legal aspect of the CFD broker’s activities. FXPrime365 is registered in the Marshall Islands in the city of Majuro, indicating its offshore status and lack of regulation by legislation.
Examining information about the fxprime365.com platform, it becomes clear that it is part of the company Prime Tech Ltd. However, the connection between them turns out to be not as obvious as it seems.
Detailed review of the official FXPrime365 website
The fxprime365.com website surprises with its user-friendly interface, graphics, and Russian version. However, real user reviews do not always correspond to the broker’s claimed advantages.
The main page lists the company’s advantages, but traders talk about discrepancies between promises and reality.
- Guarantees. FXPrime365 makes promises that are incompatible with the reality of the financial market, raising doubts among experienced investors.
- Mobile number. It is noteworthy that the contact number indicates a connection to the UK, despite the company’s offshore status.
- Account types. The lack of information on account characteristics signals the broker’s dishonesty.
- Deposits and withdrawals. The withdrawal times and other conditions presented on the website may not correspond to reality, misleading traders.
- Marginal trading. The stated leverage is not supported by additional important data, arousing suspicions among professionals.
Investigation of fraudulent schemes
FXPrime365 employs typical fraudulent schemes, convincing traders of non-existent prospects and promises, often leading to capital loss.
- Scheme #1. Consultants persuade the investor to postpone fund withdrawals, offering lucrative deals, and may later demand additional documentation to process the request.
- Scheme #2. After some successful trades, the broker may suggest increasing the deposit, but subsequently impose additional investments, leading to capital loss.
Traders’ reviews of FXPrime365
Negative reviews about the broker FXPrime365 are widespread online, where users complain about difficulties with fund withdrawals and incompetence of customer support.
For example, investor Evgeny talks about issues with fund withdrawals and account blocking. Trader Mikhail expresses dissatisfaction with the broker’s treatment of clients. Andrey describes his negative experience with FXPrime365.
Final assessment of FXPrime365
Summing up all the reviews and analyses, it can be concluded that the company FXPrime365 is an unscrupulous broker that uses fraudulent schemes to attract clients. Despite the promises and statements on the website, the broker does not provide guarantees and does not have a license. Elements of unreliable information and unscrupulous reviews on the site may deter potential clients. The company FXPrime365 raises doubts and is recommended to be avoided in cooperation.
Author: Maimistova Alina
Read also: Review of the Forex broker PaxForex: clients’ opinions on cooperation.