Is PrimeFX Scam or Legit Broker?

No, it is not safe to trade with a Forex broker PrimeFX. It claims to be owned and operated by PFXBank and doesn’t seem to be regulated.

The broker doesn’t disclose any information about its location as well as regulation. The contact phone numbers are British and the terms and conditions state that the company is under British jurisdiction, however, PrimeFX is not licensed by the UK’s Financial Conduct Authority.

 

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

What is PrimeFX?

PrimeFX is a broker that offers to trade in Forex, Indices, Commodities & Share CFDs.

However, the broker is not properly regulated, and signing with it might mean risking your investments. Based on our research we have found the following:

  • The broker’s website states that PFXbank operates globally except within the European Economic Area and at the same time the website supports German and Spanish languages which means it has been targeting European clients.
  • There is a warning from Spain’s regulator CNMV against PrimeFX issued in May 2017:

“DGX SYSTEMS LTD (PRIME FX BANK / PFXBANK) www.pfxbank.com/www.pfx-bank.com is not authorised to provide the investment services detailed in Article 140 of the Securities Markets Law, which include investment advice, or to provide the auxiliary services detailed in letters a), b), d), f) and g) of Article 141 of the said Law in relation to the financial instruments detailed in Article 2 of the said Law, including, to those purposes, foreign currency transactions.”

 

PrimeFX Review Conclusion

We advise all investors and traders to avoid PrimeFX and other unregulated brokers. The lack of information about the broker’s regulations, trading conditions, and contact details should be the biggest red flag for those who plan to invest with the entity. Usually, such companies run investment scams. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as FXTM, and AvaTrade.


PrimeFX Update

Based on our findings, PrimeFX 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 there are any proposals. 

No news available.

6 responses to “PrimeFX”

  1. sono stata cliente di primefx dal 2015 al 2016 perdendo un bel po’ di soldi sotto pressione di un consulente che mi fu’ affidato insistente mi faceva aprire posizioni , facendomi perdere soldi allora ero neofida . E adesso scopro che non puo’ operare in europa che non avrei potuto probabilmente prelevare, ecco xche’ ogni volta che ci provavo il consulente mi dissuadeva . Ma oggi volendo fare un’esposto ho una segnalazione a chi la dovrei fare alla Consob qui da me in Italia ? Gli organi di vigilanza lo lasciano fare? xche’ anche adesso si puo’ aprire un conto con prime in Italia e non viene bloccato

  2. Secure prime fx is a fraud. After investing and at the time of cash out, they will remove you from their platform and you cannot be able to log in again. They did this to me.

  3. Secure Prime Forex SPFX is a big scam and fraud. They’re made up gangsters who will pretend to be earning the 2% to fool unsuspecting individual to invest and they will takes your money and shut you out of their saver. The security agencies are looking for them because they have dupe more than two million people. They are Hushpupi group.

  4. secured prime fx person who contacted me a week ago, name : Vanessa Walker

    Mobile +1 (719) 402-5247 , she is pushing me to invest , I have already tried the system in $100 , but after seeing these comments and article, I am rethinking. Thank you

  5. I first made a deposit of R1000 then asked to make a further R3900. Thereafter I was told I hit the jackpot of R125000 I had to make a deposit of 12000 of which I made R8000 and now too withdraw my money they want R32000 for transfer code. I’m sure want to do now they want R10000 to give me my profit. Is this legal.the company is called galaxy primefx

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