Primequity appears to be a fascinating yet contradictory broker, claiming over 9 years in the business, more than 40 awards, 6 offices, and 24,000 active clients. Despite these impressive figures, online reviews are scarce and sometimes the information provided is inconsistent; one section of the website might say one thing, and another something entirely different. The company does not provide any evidence to back up these facts. Additionally, the business model and any licenses are not disclosed. So, what is this organization really about? Can it be trusted? We will delve into this further to find out.
How to Trade
Primequity offers the opportunity to trade CFDs with leverage up to 1:1000, and the minimum deposit required to start is $250. Traders have the option to try out a demo account, a feature mentioned in the FAQ section.
The broker provides 7 different types of accounts, which are divided into two categories:
- Floating/fixed spreads.
- STP/ECN accounts.
With Primequity, traders gain access to a variety of markets, including forex, metals, indices, stocks, commodities, and cryptocurrencies. The platform supports micro-lots starting from 0.01, offers assistance from a dedicated personal manager, a swap-free option, and a dealing department transaction hotline. The better the account type, the lower the spread. Additionally, there is a commission fee for transactions.
The leverage of up to 1:1000 hints at a lack of license, as regulators prohibit brokers from offering such high leverage.
Primequity Vital Info
The firm asserts that it has been in operation for over 9 years, but it has a very fresh domain, registered on August 18, 2023. It raises questions about how Primequity has been providing brokerage services all this time. Furthermore, it is worth noting that no legal documents are uploaded on the website, and online reviews are so sparse that it is genuinely difficult to believe in such a lengthy operational period and the claimed number of active clients.
The exact registration location of the company remains unknown since no legal address is provided. The website mentions 6 offices, but fails to specify their addresses or even the countries they are located in. Licenses are completely disregarded, meaning Primequity operates without regulation. Overall, the organization appears secretive and opaque. Various facts are stated, but there is a lack of proof, and crucial details such as the address and licenses are completely concealed.
Here’s my opinion. It’s better not to take the risk and not to trade with PrimEquity. Why? Firstly, where is the license? I never saw whether there is a license here or not. Apparently, there is not. Secondly, where is the legal address? To independently check the regulator's registers, you need to know where the company is registered and based. This information is also not available. Thirdly, what is the business model? I understand that there are ECN/STP accounts, but liquidity providers are not provided. Information about ECN/STP can easily be fake. Fourthly, if the broker has been operating for more than 9 years, then why are there so few reviews on the Internet, as well as mentions and reviews? And why does the domain exist for only a couple of months? Where is the proof that the broker has existed for 9 years?
These are the questions. In fact, I have a lot of complaints about PrimEquity. This is just a part, the main ones.
Primequity engages in fraudulent and criminal activity!!! All traders must know this, especially beginners!!! Because beginners are the main target of these scammers!!!
Take a look at this shabby website primequity.io and you'll understand everything. The fraudsters have gathered various pieces from different brokerage websites and assembled them all here. They didn't even bother to change the name of the broker from which they stole some of the text. If you visit the calendar section at primequity.io/Calendar.html, you'll see the phrase "Why trade with FxPro" at the bottom. It means that Primequity has stolen part of the text, or perhaps even all of the text, from another company. Consequently, all the merits listed here belong to another firm or firms. It is a very important red flag, clearly indicating that we are dealing with a classic scam, created for one purpose – to engage in fraudulent activities.
If we consider what is written on their website, it appears to be a good brokerage company. At the very least, there are many traders, awards, experience in conducting activities, and offices in various jurisdictions. I only see positive aspects in this. I don't know whether it is a scambroker or a real and safe platform, but it looks good. I haven't traded here and I'm not planning to for now, as I have other goals and tasks. But maybe someday, I'll try. I'm not advocating trading here.
all the advantages, merits, facts, promises they give are fake and lies. their main goal is to lure a person into their forex trap, so that the victim invests money. after that, the goal will be accomplished. the person will not be able to get their money back. that’s all you need to know about this scam.
Fellow traders, I warn you, if you invest money in primequity, you will lose all your money. The withdrawal of funds here does not work. Before us is a classic scam project, operating without registration and without a license. Anonymous scammers have created another website where they swindle people out of money.
made a mistake when I decided to replenish my deposit with PrimeEquity. I wasn’t even bothered by the fact that the minimum deposit here is $250, which is a very high amount. The FAQ mentions a demo account, but in reality, it doesn’t exist. I couldn’t find a way to trade on a demo. I invested $700 here, and I did it using cryptocurrency, which completely killed my chances of any positive outcome for the refund. The fact is that it is a scam broker that doesn’t want to withdraw my money. Withdrawal of funds is impossible. And this problem is not only mine, but also other traders who decided to trade here as well.
Everyone who invested here lost money. I really regret making such a mistake. I didn’t have a person who would advise me to refuse cooperation with that fraudulent company.
I am planning to open a brokerage account here... I liked the trading conditions... primequity offers a choice between floating and fixed spreads, as well as between spread and commission... that is, what is more convenient for the trader to pay? Spread or commission? So the broker gives a choice...
I also want to test the auto-trading service... and in general, I liked the firm... I will not give the maximum rating, because I have not tested primequity in practice yet, but it seems to me that there should be no problems... after all, the broker has been on the market for more than 9 years, and has experience and clients...
Do not believe the reviews that are on the Primequity website; they are fake. Also, do not believe the positive reviews that you can find on the Internet. It is also fake. The whole firm is a complete fake. All data and facts are invented and fabricated. In reality, such an organization does not even exist. Primequity does not have a license; they operate illegally. These are anonymous scammers who did not even register their company, but just created a website, and also a fake platform, and now offer to supposedly trade CFDs. Stay as far away as possible from these fraudsters.
It's impossible to trade here. The platform is very scarce and primitive. Advanced options and capabilities are missing. The terminal is constantly lagging. The trading conditions are just some kind of nonsense. The spreads are huge, and so are the commissions. These are not the values indicated in the table on the website.