TradesPrime Review

Is TradesPrime Scam or Legit Broker?

TradesPrime is a 100% fraud company. The broker is registered offshore and does not hold any proper license from a well-known reliable financial regulator. It is NOT SAFE to trade with TradesPrime. We never advise trading with an offshore broker, since the financial investment service they deliver is not trustable.

• The reason is simple, the broker may promise the most ever competitive trading conditions or the trading environment, yet the trader has no guarantee from the official entities that oversee the Forex industry. Thus the engagement in trading with such a company means the trader will believe only in the broker’s words, and of course, it is a high risk.

What is TradesPrime?

TradesPrime is a Forex company registered offshore in the Marshall Islands. It is operated by Black Parrot Limited. The Marshall Islands is a popular offshore destination for Forex brokers, as it offers a variety of tax benefits (no income tax, no capital gains tax nor inheritance tax), the registration process is fast and low cost, and capital requirements are also very low, amounting to USD 2000.

• Altough the company is not licensed in Spain, it was targeting Spanish residents and got blacklisted by the Spanish regulator CNMV (The National Securities Market Commission).
• It is recommended to trade with brokers regulated by UK’s FCA or Australia’s ASIC (Check out ASIC regulated Global Prime Review) instead. For example, the license from UK’s Financial Conduct Authority, requires EUR 125,000 of capital for the STP license aside from client deposits.

Overall TradesPrime Ranking 

With our revelations on regulations and safety issues of TradesPrime, we do not rank positively TradesPrime, based on our Expert Opinion with over 10 Years of experience in Forex Trading.

• TradesPrime Overall Ranking is 2 out of 10 based on our testing and compared to 500 other brokers, see Our Ranking below compared to other popular and industry Leading Brokers.

TradesPrime Alternative Brokers

As our research revealed safety issues with TradesPrime, here we offer much better Alternatives to TradesPrime with good regulations and great trading conditions. We select Good Brokers and trustworthy options for your comparison below: 

• Pepperstone – Best Broker for Low Minimum Deposit
• Interactive Brokers – Good for Real Stock Trading
• Plus500 – Good for Futures Trading

Deposits and Withdrawals

TradesPrime enables the traders to make deposits via debit card, wire transfer, eCheck or check.

• The broker does not provide any information on the withdrawal process. 

TradesPrime Review Conclusion

We strongly advise opening a trading account only with the brokers that are regulated by the respected world authorities that comply with the required set of rules and a good reputation through the delivered timeframe of operations. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as Eightcap and BlackBull Markets.

• Overall ranking and experience for TradesPrime is Negative