Prime Crypto Review is Primecrypto.io a Scam or Should I Invest

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PrimeCrypto Review – is it scam or safe?

PrimeCrypto is a CFD broker focused on the crypto market, offering a choice of over 60 crypto coins. It seems the broker wants to present itself as crypto exchange, where you can buy or sell actual crypo coins. That, however, is not the case. PrimeCrypto offers only crypto CFDs or “Contracts for Difference”, with which you basically bet on the price of the underlying asset, without actually owning it. If you are thinking about opening an account with them be sure to read this review first.

Account type Min. deposit Max. leverage Spread s
Basic Account $0 1:2 n/a
Bronze Account $2500 1:4 n/a
Silver Account $10 000 1:6 n/a
Gold Account $75 000 1:8 n/a
Diamond Account $150 000 1:10 n/a

PrimeCrypto Advantages:

Over 60 crypto CFDs

In their presentation PrimeCrypto says they are offering more then 800 crypto assets. We counted just 64 crypto CFDs with coins including Bitcoin, Ethereum, Bitcoin Cash, Ripple, Dash, Litecoin, Zcash, Monero, USD Tether, Ethereum Classic, Waves, Steam, OmiseGo, Lisk, Gnosis, Golem, Augur, Otum, NEM, NEO, IOTA, EOS and Stellar, which is still impressive.

The broker, however, does not offer standard forex pairs or CFDs on other assets like commodities, precious metals, indices and stocks. Here you may check our list of brokers, also offering Bitcoin CFDs:

PrimeCrypto is owned and operated by Maplewalk Limited, a company with a contact address in Bulgaria. Under the Bulgarian Law all companies providing financial services on the territory of the country should be registered with the local Financial Supervision Commission (FSC) or another regulatory body from another EU country. Unfortunately it turned out PrimeCrypto is not regulated by (FCS) or any other financial institution in EU. So basically PrimeCrypto does not have a license and its operations in EU are illegal.

We strongly advise all potential traders to invest only with brokers, regulated by well respected financial watchdogs such as the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) or the Australian Securities and Investments Commission (ASIC).

Besides, traders with FCA and CySEC regulated brokers are even entitled to a compensation in the event their broker goes insolvent. In the case of FCA the compensation covers up to 50 000 GBP of the trading capital, while with all CySEC brokers the insured amount is up to 20 000 EUR. Here you may check our list of FCA regulated brokers:

PrimeCrypto is a low credibility, unregulated CFD broker, that poses as a crypto exchange.

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As we already discussed, trading with unregulated brokers is associated with high risk of loosing your money to scammers, so we strongly suggest you to avoid dealing with such entities.

Broker Advantages

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.

Broker Country Regulation Platform Min Deposit Review
US CFTC, NFA MT4, Web,
in-house
$50 Review Website
US NFA, CFTC MT4 $250 Review Website
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Australia, Cyprus ASIC, CySEC MT4, MT5, Iress $100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Australia, Singapore FCA, ASIC, MAS, BaFin MT4, Web,
ProRealTime,
2Dealer
$0 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website

Traders` reviews for PrimeCrypto

Spread

Slippage

Requotes

Price feed

Platform

Deposit/Withdraw

Customer service

Summary

Primecrypto have taken all my savings. AVOID, AVOID, AVOID!
It is a total scam and this has affected my health. I’m in a lonely place now and dont know what to do.
I have all my emails to and from them

The Biggest Scammers there are

They Scammed me of all my money $375000 AUD ,never got a Dollar From them . They stole all my money . Promised me a safe investment but are the Biggest and the Worst of the Worst Scammers that exist and I ever come across . I reported them to The FBI . They will get their share of what they deserve . To make it worse the ones who tried to recover my money knew the scammers and I got scammed 4 times . One of them got arrested and I hope gets 40 years in prison .

Totally corrupt

Prime Crypto totally corrupt a scam do not get involved I have our fraud police and the Bank investigations on.

I can advise you Adam Lawrence you will serve a custodial sentence soon.

they are terrible scam

They are terrible I lost ВЈ2,500.00 they lost all my money you must avoid this company if you want to keep your money at all costs . If they call you! Dont let them talk you around put the phone down on them or you will lose your money .I have kept messages from them to prove how unhelpful they were an how they treated me after they were informed of my mental health issues . Please stay away .

I can’t withdraw my own money –why

I am being persuaded by Jones Benjamin of Prime Crypto Bank -email
to open an account using my VISA card on 2020- May 22nd. They asked for identity document of driving license,
copy of visa card, selfie photo ,utility bill proof of residence.The trading platform is active and my available balance USD 2144.33 as at 2020 June 8th.
Upon several request to withdraw my money it is denied .The senior account manager ischanged to Nicholas Bennett
at No.101 Rose Street,South Lane Edinburgh,UK. Phone:+441823711258.
Several email have sent to heir compliance department but no respond.
Until now it seems no news from this bank.
How am I to get back my money .
They are just scammers suckers cheaters

Bunch of scammers

I traded with primecrypto they kept asking me what I wanted to get from it making you put more money in all the time, then they wanted me to put in more because bitcoins were going to saw in value this I resisted and decided I wanted to close my account and after trying for a couple of weeks suddenly the price crashes to a large minus account value they don’t even call to explain anything or I get the dodgy phone line call. Avoid Avoid Avoid.

Scum of the earth

SCAM . SCAM. SCAM stay away these are crooks and everything you read in this review column is true I’ve had first hand experience and there only goal is to empty your account. They clam to be part of the AAA trader group but i spoke to there main office in Cyprus and they told me they’re nothing to do with them and to be very careful dealing with these guys. I also had an independent company investigate there background and they said they wouldn’t invest a $1 with these CLOWNS IS THEY HAVE NO SOLID BACKGROUND . YOU HAVE BEEN WARNED YOU WILL LOSS YOUR SHIRT.

As for the good reviews there FAKE just google the reviewers name they don’t exist.

Scam – no FCA number

Don’t invest any money with these clowns. they will clear you out in no time they do not have a FCA number and are not regulated.
Please do not put ant money in. YOU HAVE BEEN WARNED.

I have just signed up with PrimeCrypto after reading an article outlining the reasons Jamie Oliver has been selling some restaurants.

Hardsell

Hardsell approach which was topped with a request for the details of my credit card. The net effect was that I got the feeling that not all was right and that there was a risk of it being a scam.

Having read your review, it seems my instinct was not that far from the truth.

Feels like an IRS Scam

I read an article regarding the founder of this business who was Alan Sugars Apprentice winner some years ago and it tickled my interest through customer references indicating large returns very quickly. Not unusual in Crypto currency if you time it right by all accounts but free money does not exist so if you gain someone else is losing.

Anyway I looked at their website and you have to register your email and phone number to access the website properly and look around. Literally within 1 minute of registering a so called account manager called me to get me ‘properly’ set up including a lot of personal detail. They kept me on the phone for 10 minutes as I was stating I wanted to do more research before providing further personal details, credit card details and funding my account!!

20 minutes later a so called broker called me up firmly requesting these details again and I said please do not call me again until I have done more research and if I want to proceed I will call them.

They called the following day and by now I am peeved with them cold calling me and I request they remove my details but guess what the calls continue.

Why does it feel like the infamous Indian IRS scammers, Indian nationals with poor English calling me from an Indian call centre hassling me.

As an aside the FCA (UK) and similar EU bodies state it is not registered, therefore unregulated and should not be used for Financial Services in the UK.

I think Mr Sugar’s old apprentice needs to look hard at his business model as if this is how he wants to pester potential customers in an unregulated way his and this companies brand are going to sink.

Total scam. Avoid at all costs

This company will harass you endlessly, then take your money and try to get you to invest even more through credit cards.
Then when you want to withdraw, they will inform you of closure but never pay your money back.
They will claim to have done “everything possible” but are total liars and tell you do a chargeback through your bank/credit card.
All the above whilst your so called “Account manager” tries to get you to invest more and build a “long term” relationship.
These guys are FRAUDSTERS, CROOKS, CRIMINALS, avoid at all costs as they are worse than the plague.

Primecrypto Reviews

10 • Poor

Write a review

Write a review

Reviews 10

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Be very cautious of where & how you…

Be very cautious of where & how you invest. It’s really hard telling the authenticity of this online platforms only if you’ve had a bad experience with them after trading or doing any form of business with them. You can check my bio to reach out in case you have lost some amount to get it retrieved.

Almost lost all my life investment in…

Almost lost all my life investment in binary option been scammed always but thank God for the help of Mrs sally that help me recover all my fund’s. You can fine her contact by click on my profile for help to get back your lost funds

I came across Mrs Sofia Williams who…

I came across Mrs Sofia Williams who helped me to recover back all my lost funds and also help me to earn $6000 weekly. Click on my profile for her email address

This is a complete scam site

This is a complete scam site. They are targeting people to deposit small amounts of cash and falsely reporting they have multiplied their investment to entice them to put more in. If you are a victim of any scam broker, Charles and his team can help you. check my bio

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Get your money back from this fraud of a company. I was able to get my investments back. check email up to contact funds recovery expert for help.

To not invest with Primecrypto absolute…

To not invest with Primecrypto absolute scam. They have subrious brokers allegedly working for them who convince you to invest money lull you into a sense of false security whilst harassing you to invest more show you live on a trading screen how well your investment is doing then when when you want your funds back tell you they are lost. Despite assuring you that the money has been put in a secure account and that they only trade with a third of your investment. The broker I dealt with doesn’t call back you can’t ring them I doubt if it’s even his real name.
Surely legally these people cannot carry on conning clients out of money then just walking away?
Horrendous experience with a company and brokers with no scruples.

PrimeCrypto Review – 5 things you should know about Primecrypto.io

Beware! PrimeCrypto is an offshore broker! Your investment may be at risk.

Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

PrimeCrypto is CFD forex brokerage based in Bulgaria. Judging from the broker’s website Prime Crypto attempts to mislead traders into thinking it is a crypto exchange. The broker’s trading conditions aren’t very clear as well. We do find out that there is no minimum deposit required for the most basic account and that it provides a leverage of only 1:2. Clients, however, have at their disposal a number of financial instruments, including many CFDs on cryptos.

PrimeCrypto regulation & safety of funds

The brokerage is owned and operated by the company Maplewalk Limited with a registered address in Bulgaria’s capital – Sofia. Even though the government of Bulgaria includes forex trading within its regulatory framework, we could find no mention of any regulatory oversight going through the broker’s website. Furthermore, after checking with the online registries of other regulators in the EU we can confirm that the brokerage is operating illegally. This compels us to state that clients of the brokerage may be open to a number of risks while trading.

Prestigious financial regulators such as the FCA or NFA force a broker to comply with a number of strict rules that lower the possibility of fraud and give assurance for the safety of the clients funds.

One such rule is the segregation of accounts which forces the brokerage to handle the finances of the clients separately from their own and greatly lowers the risk of commingling. Another is the participation in a compensatory scheme by which the client’s losses will be covered in the unlikely case the broker goes bankrupt or attempts to scam traders.

PrimeCrypto deposit/withdrawal methods and fees

Potential clients of the brokerage do have a number of payment methods at their disposal. They may deposit or withdraw via MasterCard, Visa, bank and wire transfer, as well as Skrill and Neteller. Furthermore, going through the Terms and Conditions of the brokerage we came upon a withdrawal fee of 5 per cent as well as nasty conditions for accounts that have accepted bonus. A trader must achieve a staggering turnover in order to retrieve the money in his account. All this is disturbing and we should underline a few things in regards to this. Traders must not trust, especially unregulated brokerages, and act carefully. They must first make sure not to invest more than the minimum required of them, so that they don’t lose a larger-than-necessary sum if the broker turns out to be a scam. Furthermore, they may also try to withdraw a small amount in order to check for any unexpected fees or delays. Scammers will usually have such hidden.

How does the scam work?

Besides judging the brokerage beforehand, a valuable piece of information in the trading world would be precisely how a scam would go about. Here is a description of the typical three steps:

A click-bait ad about fast money will take you to a website like TradeCryptoRobot or Green Tree Profits where registration will require you to give your address, email and phone number. Calls from broker will follow, telling you to invest with them and reap huge profits. After a few minutes on the phone with them, you decide to deposit some $200-250. Little do you know that from that initial deposit the broker on the phone takes a nice fat piece as commission.

The scam, however, continues and what follows is called the “retention”. Senior scammers will now begin addressing you on the phone and explaining all the advantages in further investing with them. After you decide to go for it, you may even win on a few trades and go up by, say, a couple thousand. Naturally, you will begin wanting to close the account and take away your profits.

Closing the account will prove to be a difficult task. The “recovery department” will take you and yet another representative will have some other trading opportunities to share with you. He will attempt to stall you in order not to file a chargeback with your bank right away. That possibility forever closes when six months pass after the initial deposit with the broker.

What to do if scammed?

Unfortunately, much of the forex trading world is overshadowed by the huge numbers of scammers. All a trader may do is be well-informed and, in case he is the subject of a fraud – stay calm and not panic! The chance for panic is greatly reduced if such a situation does not take you by surprise. Here are the available options for scammed traders:

You may contact your bank or credit card provider and file a chargeback, but only within six months of the initial deposit, as was noted above.

If however you have provided the broker with your credit card details, immediately cancel your credit card.

If you have given information regarding your online banking pass – you should change it asap!

So-called “recovery agencies” should not be trusted! Such agencies target scammed and vulnerable traders in an attempt to further swindle them into giving away their money. They will require from you an “up-front payment” in order to get your money back, but no such thing will happen!

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