After many requests, I decided to do this PrimeCFD review. You may not find yet many PrimeCFD complaints. It is a relatively new binary options broker. However, I did a good online research on several forums, websites, blog comments and I also found very few serious comments.
UPDATE: the Company had decided to suspend trading activity
|Free Demo account||No|
|Regulation & licenses||VFSC|
|Accepted nationalities||All countries except USA|
|Payout (returns)/Refunds||82-88%/ 0%|
|Expiry Times||30 seconds to end of month|
|Assets||33 currency pairs, commodities, indices|
|Account Types||Mini,Silver, Gold, Platinum, Diamond|
|Mobile Application||Android and IOS|
|Deposit and Withdrawal Options||Visa, Master Card, Visa Electron, Maestro UK|
|Withdrawal Time||3 to 5 days|
|24 Hours Support||Yes|
|Customer Support Languages||English and Arabic|
|Phone Number||>359 5291 9520<|
|Email Address||[email protected]|
PrimeCFD complaints across the internet
You can find many complaints about most brokers. You can see that in my other binary options brokers reviews. PrimeCFD is not one of them. The serious complaints were really few. Most of them were these type of complaints that you can understand it is not worth reading it. They are just frustrated traders leaving negative comments everywhere.
Here are the two serious complaints about PrimeCFD I found:
“Hi, I decided to try it, I joined as a rookie, after serious thought I decided to cancel and withdraw my money $250.00. They say they paid $200.00 into my card account on the 4th of November. My bank so far has not received this money and it is now the 19th of November. My bank is asking for a copy of their transaction, we will wait now with bated breath”
However, the trader never updated. Usually, when someone does not get their money, they keep posting. This is what I also did in two cases I never got my withdrawals. So, I assume, she finally got it.
The second complaint:
“Immediately after opening and funding my account, I saw that trades were made on my account. I contacted them immediately and they seemed not to know anything about it.”
It is the first and last time I saw a comment like this about PrimeCFD.
Sources for the comments: forexpeacearmy.com,binaryoptionsblacklist.com,binaryoptionsthatsuck.com,pissedconsumer.com
It was Founded recently in 2017. Yet, PrimeCFD trading is already looking like a Professional CFD and binary options broker. PrimeCFD established their head office in Romania. The broker claims to have branch offices in South Africa, Malaysia, Ukraine, Nigeria, Bulgaria, Netherlands, Finland, and Norway.
VFSC is the regulator of this broker. VFSC stands for Vanuatu Financial Services Commission. It is the financial regulatory authority of Vanuatu. Vanuatu is a is a Pacific island nation located in the South Pacific Ocean.
It offers high returns of up to 81% from a single trade and a varied range of assets to trade in. PrimeCFD also offers the best flexible Web-based trading platform for its clients.
This binary options company has been in service for just about few months only. Yet, it is well recognized by many professional traders for the high-quality services and trust issues. PrimeCFD has received many awards from several organizations. These include iGB Awards, Forex Magnates, UK Forex, EGR, CIOT Expo, and Investing.com
PrimeCFD Trading Platform
PrimeCFD broker has the most ‘traders-friendly’ proprietary trading platform that works. It is carefully designed,simple to use and need 4 clicks of the mouse to make a trading transaction. As other standard brokers, PrimeCFD’s trading platform is fully web-based. There is no need to download any soft through a secure HTTPS panel. This way it protects your data and ensures that no one can get your personal information. You can find the PrimeCFD login or register page here.
This broker accepts all nationalities except for US customers. Click here for the Marketsworld review that accepts US customers.
Prime CFD Demo account
Unfortunately, this binary broker does not offer a Demo account yet.
Binary brokers nowadays generally offer a good amount of fundamental assets. This broker is not exceptional. At PrimeCFD trading, there are about 90 underlying assets in four (4) different types to deal in; Forex, Stock, Commodity, Bonds.
PrimeCFD Payout Ratio
The payout percentages at PrimeCFD vary on the type of trades. The standard return varies from 71% to 81%.
PrimeCFD broker has five different types of trading accounts. The account types are actually based on traders’ experience. If you are a newbie, start with the ‘Mini Account’. If you have long experience in binary trading, you can choose to go with ‘Diamond Account’. Other accounts are Silver, Gold, and Platinum. The payouts vary from 82% to 88% on different account types.
PrimeCFD Withdrawals & Deposit
PrimeCFD offers several payment methods to its traders for easy deposit and withdrawal process. You can make a deposit or withdrawal using your Cards like Visa, MasterCard, and Maestro. You can also use Wire transfer or eWallets option to deposit funds or withdraw your profits with PrimeCFD broker.
Traders have the expediency of quite a few methods of fund transaction. It accepts leading credit Cards like Visa, MasterCard, Maestro cards. Traders also have the options of extra payment systems like eWallets and wire transfer.
All these processes are trustworthy, secure and well organized. A secure HTTPS panel handles all transactions. This way it protects your data and ensures that no one can get your personal information.
If you want to see how a non-reliable broker looks, visit my Binarymate review.
It is newly established broker. I do not expect them to offer customer support or web platform in so many languages. The website, their platform and customer support is available in English and Arabic as well.
Safety of Funds
Along with SSL certified, the broker’s platform is also PSI approved. The broker didn’t make it clear what actually PSI approved is, and I don’t have any idea either. SSL certification actually secures our personal information from any third party or hackers. The broker also claims to maintain segregated bank accounts for trader’s funds. The term ‘segregated account’ indicates that traders and brokers’ money are kept separately from each other. If the broker maintains a segregated account then you can trace your every cent fund any time you wish.
While trading with this broker, I came up with few queries regarding their platform and payouts. I was able to reach their customer support through live chat and phone call. Obviously, they do response through emails too but that takes a day to get any response.
Is PrimeCFD a scam?
Many say it is. PrimeCFD broker does not provide a demo account. This is unfortunate as most new traders will have a strong need for testing their strategy first.
The minimum deposit is a bit high. You can find brokers with lower minimum deposits.
I also do not like the fact that is regulated by Vanuatu commission. It does not sound too reliable.
It sounds like a scam. Maybe it is not. But the many complaints all over the internet suggest to stay away from it. You can visit my Highlow review for the best broker.
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