PrimeCrypto Review

Is PrimeCrypto Scam or Legit Broker?

PrimeCrypto is not a safe broker to trade with. It does not hold a serious license and its offerings might be unsafe to sign. Meaning the broker is suspected of being a fraud company since it was not checked for its compliance before establishment, was never monitored in terms of its safety, and may operate the business in any way it wishes.

What is PrimeCrypto?

PrimeCrypto is the trading name of the financial investment firm Maplewalk Ltd incorporated in Bulgaria. According to Bulgarian law and its status being a part of the EU requires registration by the local authority FSC (Financial Supervision Commission), but this is not the case with the PrimeCrypto as there is no license or regulation.

• Apart from the issue with the registration and its legitimacy to deliver financial services or the trading environment, the company does not clarify clearly its trading offering. The broker states and positions itself as a Cryptocurrencies seller or exchange service, however, it is not possible since the offering includes trading on CFDs only. This means the trader speculated on the price of the underlying asset only, therefore the company misleads investors with wrong explanations.

• Moreover, since the company targets and uses marketing strategies in jurisdictions strictly overseen by the local industry authorities, PrimeCrypto received a warning to deliver its service.

  “This firm is not authorized by us and is targeting people in the UK.  We strongly advise you to only deal with financial firms that are authorized and check the Financial Services Register to ensure they are.”

  FCA, UK. September 2018.

PrimeCrypto Conclusion

We strongly advise all traders and investors to cooperate only with Regulated Forex Brokers that are overseen by reputable authorities, as well as to take it seriously if the company appeared in alert listings. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as FP Markets and TMGM.

PrimeCrypto Update

We found the PrimeCrypto website inactive and unavailable to reach. This means the broker no longer operates. However, it is best to avoid and stay alert if any proposals come.