Is Prime Trade Fx a scam?

By juan, from United States, March 20, 2022 at 10:31 PM

need to know if theyre are scam

Answer: Hi juan,

Prime Trade Fx seems to be White Fx, because all the information on the website is about White Fx, not Prime Trade Fx and that’s the first red flag and first reason why you should avoid this broker. Secondly, despite the US location mentioned on the website, the terms and conditions state the broker is a corporation organized under the laws of St Vincent and the Grenadines.

St. Vincent and the Grenadines is an offshore zone, which does register the financial investment firm, but provides very poor if none requirements to the company operation. That means, the broker is not regulated, not overseen and does not comply with strict international rules that provide protective measures to the traders. Therefore, it became an offshore zone for shady forex brokers. Read more about St. Vincent and the Grenadines regulation by the link.

Considering all the above, we highly recommend to stay away from Prime Trade Fx and select only Regulated brokers. 

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