Top Reasons Why Prime FX CFD is Not Worth Your Investment

Prime FX CFD is constantly grabbing headlines, but not for the right reasons. It has become an infamous name in the forex market, which, otherwise, has become the reason for many becoming financially independent globally. Investors have been taken for granted as scams keep happening. We have found some red flags with this scam forex broker. In this article, we will let you know about them. Keep reading!

The Red Flags We Wanted to Highlight About Prime FX CFD

No License Makes for a Scary Experience for Investors

The thing that instills confidence among forex traders is the broker being licensed. Surprise, but true, Prime CFX CFD is not licensed by any financial regulatory authority. So, the scams happening here are not a surprise. Unlicensed brokers often escape from disclosing necessary information about their offers, risks and operations to the regulatory authority. This allows them to present their too good to be true forex schemes to innocent investors. So, the first thing you need to do when finding an able forex broker partner is to check its licensing status. Only if the broker is licensed should you go ahead with it.

Non-stop Calls Make it Annoying for Prospective Traders

The officials at Prime FX CFD are busy calling customers rampantly just to get their trading account opened. Despite telling the official to stop calling, the investor receives calls and claims of high returns. But nothing comes. The funds that come to the account are often used by the company for illicit purposes. The screenshot below expresses the pain the customer faced due to incessant calls. Take a look.

Fund Loss is Usual at Prime FX CFD

This scam broker has duped investors using illicit means. Being unlicensed only allows it to carry on with this scamming activity. Check out this customer comment to know the company is not worth your investment.

The Score Assigned to Prime FX CFD

A lack of regulatory license and unfair trade practices prompted us at WikiFX, the go-to app for forex broker regulation inquiry, to assign Prime FX CFD a score of just 1.30 out of 10. It reflects poorly on the Saint Lucia-based forex broker, which has been operating for a reasonable two to five years.

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