Thinking of getting into business with PrimaCFD? Here is what you must know about this broker. Carefully read this review to find out if is the trading platform you will want to trade with.

About PrimaCFD Broker

PrimaCFD is an offshore brokerage company with a lot of promises for traders. The broker is incorporated under TradeED Group Ltd, a company located in Saint Vincent and the Grenadines.

PrimaCFD claims to provide advanced charts, trading alerts and 24/5 support. The broker’s account types are Basic, Silver, Gold, Platinum, Diamond and VIP.

In spite the trading instruments PrimaCFD claims to offer, traders must know they are dealing with an unknown broker whose regulation claim is false. Reasons to Avoid This Broker is a platform with no financial authority overseeing its financial services. Its regulation claim is not legit as no financial regulator recognize the brokerage company. This is because the country does not have a forex regulator and all brokers there are unlicensed.

Another red flag we noticed on is that there is no demo account for traders. If traders can’t test PrimaCFD broker on a free account, how then can we know its viability in the forex market.

Since this broker does not offer money back guarantee, trading on any account type is clearly a risk. This is a big warning for forex traders to avoid losing money with this broker. 

Withdrawal and Deposit

Withdrawal process

PrimaCFD does not provide forex traders enough details on the withdrawal process nor deposit it charges. It leaves us with a big a red flag to be doubtful on what this broker is all about.

Minimum Deposit

The minimum deposit of PrimaCFD is indicated $250.

The payment method on are Debit/Credit card and Wire Transfer. You should not consider making any payment with this broker in the first place because it is a risk. So beware!

PrimaCFD Platform

PrimaCFD operates a Web based Trading platform. The refusal to make use of industry standard such as MT4 or MT5 that are widely accepted for trading is one of the reasons you should avoid this broker.

PrimaCFD leverage is 1:1000. It is advisable you don’t consider doing that because you can easily crash your account. In fact, it is against the financial regulatory leverage.

In spite the attractive offers PrimaCFD broker presents, we can’t find a free account for traders to test the platform before considering a deposit.

PrimaCFD Licensing and Regulation

It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation that means your money is at risk. Its licensed and regulation claims are false and must be avoided.

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Conclusion: Is a Reliable Broker?

No, is not a reliable broker for traders and because of that, you are advised to stay away from this broker.

The scam is on the wall for forex traders to avoid crossing path with PrimaCFD because its claimed license and lack of transparency are red flags.

Therefore, we do not recommend this broker for trading.

Kindly share your comment about this broker in the comment section.

By Dan

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