FXprime claims to be an industry leader in the Forex and CFD markets. Trading at FXprime allows its clients to benefit from tight spreads and low commission. It provides a web-based platform and a leverage of up to 1:200. 

Is FXprime  a scam or legit broker?

No, it is not safe to trade with FXprime as it is an offshore broker. FXprime is owned and operated by Royal Gates LTD, registered in St. Vincent and the Grenadines.

St. Vincent and the Grenadines is notorious for its practically absent requirements and regulations. Due to the setup cost is low and it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as FTE FX, PrimeXBT and more. You can read our detailed article about the risk of trading with brokers from St. Vincent and the Grenadines.

The broker doesn’t provide any information about its regulation as well as its location. It provides the contact phone numbers with UK’s country codes, however, FXprime is not regulated in the UK or any other country. 

In addition, the broker has gotten in the warning list of the Belgian regulator FSMA

“During the last weeks, the FSMA continued to receive complaints from consumers concerning new fraudulent online trading platforms that are operating in the Belgian market. The FSMA therefore strongly advises against responding to any offers of financial services made by the following trading platform: FX prime (www.fxprime.io)”

We advise all investors and traders to avoid FXprime  and other offshore brokers. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as FXTM and XM.com.

You can also share your trading experience with FXprime by commenting on this review.

No news available.

Leave a Reply

Your email address will not be published. Required fields are marked *

* code