Is Prime Scam or Legit Broker?

Prime has been suspected as a scam broker. According to the website, the broker is a part of the ADS Dahui Group as a part of ADS Securities LLC. ADSS is a limited liability company registered under the laws of the UAE (Check out Forex Brokers in UAE) and licensed by the Central Bank of the United Arab Emirates and the Financial Conduct Authority in the United Kingdom. All the information about ADSS is correct and the company is legal, however, Prime broker has nothing to do with the regulated entity.

About Prime
🗺️ Registered inNo Registration
🗺️ Type of LicenseNo License
🛡️ Is Prime safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerGO Markets - licensed by ASIC in Australia

What is Prime?

Prime is a Forex and CFDs broker. It turned out the broker has been using the details of the ADSS in order to delude the traders.

  • It is called a ‘clone firm’; and fraudsters usually use this tactic when contacting people out of the blue, so investors should be especially wary if they have been cold-called. They may use the name of the genuine firm, the ‘firm reference number (FRN) that was given to the authorized firm, or other details. The Prime broker is just one of these “clone firms”, so it definitely should be avoided.
  • Moreover, the FCA in the UK has issued a warning against Prime by ADS Securities (a clone of FCA authorized firm):
    “This firm (Prime) is not authorized or registered by us but has been targeting people in the UK, claiming to be an authorized firm. Fraudsters are using or giving out the following details as part of their tactics to scam people in the UK. This FCA-authorised firm (ADS Securities) that fraudsters are claiming to work for has no association with the ‘clone firm’. It is authorized to offer, promote or sell services or products in the UK.”

Prime - official website

Prime Review Conclusion

FCA warns about suspicious brokers and urges investors to consult its website prior to investing with any forex broker that claims to be regulated in the UK. Prime is evidently a scam that should be avoided to trade with. We highly recommend only dealing with regulated forex brokers, authorized by reputable regulatory institutions like CySEC, FCA, or ASIC, and brokers such as FBS and BlackBull Markets 

Prime Update

We found that the Prime website is inactive. This means the broker has muted its trading offering and does not operate. However, we recommend avoiding and staying alert in case of any proposals. 

No news available.

2 responses to “Prime”

  1. They took 19usd from my account and IVE NEVER once given them access to anything. CHARGEBACKED AND THEY ARE A SCAM. FUCKERS. banks been changed bitches. go fuck yourself sideways “Prime”

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