Primeinv Review: Why You Should Absolutely Avoid It

This Primein Review, like many unregulated brokers, operates a website that only serves as a facade for its shady and deceitful activities. Upon registering, we were quickly granted access to a typical broker user area that was both limited and suspicious-looking. 

Our investigation revealed a EUR/USD trade cost of 0 pips and a leverage cap of 1:200, along with trading instruments like forex currency pairs, shares, cryptocurrencies, commodities, and indices. 

Despite the seemingly good spread, it may have been manipulated or subject to heavy commissions. In any case, it’s clear that PrimeInv falls short of delivering a favorable spread. Now, let’s dive deeper into this PrimeInv review. 

Furthermore, we highly recommend that you avoid the scam brokers Onyxtraders and LoyalFXMarkets.

Is Primeinv Legit? Regulation and Fund Security

Primeinv is a shady trading services provider that operates completely anonymously. The broker fails to disclose its location, ownership, and regulatory jurisdiction. We searched leading databases of Tier 1 license providers, such as FCA, ASIC, and BaFin. 

However, we found no records of Primeinv being registered. This means that customers are at high risk of being scammed, and they will not be protected by regulators or compensated from any funds in case of any fraudulent activities.

Brokers providing services in countries such as the EU, UK, US, or Australia must operate under legal supervision. However, illegal trading firms like Primeinv have no obligations.

Trading Platform Offered at Primeinv

Primeinv claims to offer the most versatile trading platform for multi-asset trading. However, they only provide a basic WebTrader. This is a common practice among offshore scammers. 

Their platform allows customers to view their assets, deposit money, and check their trading history. Yet, it lacks the necessary features for advanced trading strategies. If you’re serious about trading, look for a broker that offers the more powerful and advanced MT4 or MT5 platforms.

Trading Instruments at Primeinv

Primeinv offers the option to trade currency pairs, indices, shares, and commodities. Unfortunately, the broker does not provide the ability to trade crypto, which is a major disadvantage. 

All in all, beware, as this broker is a scam. You should not trust it. It is crucial to note that the value of these instruments becomes irrelevant when they are offered by a fraudulent broker.

Account Types at Primeinv

The broker in question offers five different types of accounts, which include:

• Standard – with a minimum deposit of 250 EUR
• Premium – with a minimum deposit of 2,500 EUR
• Business – with a minimum deposit of 25,000 EUR
• Gold – with a minimum deposit of 100,000 EUR
• Platinum – with a minimum deposit of 500,000 EUR

According to their promises, each account provides higher leverage and lower spreads. 

Moreover, customers are supposedly granted access to financial experts and various educational materials. However, given the broker’s shady reputation, it’s difficult to trust that these claims hold any truth.

How Do They Initiate The Scam?

Brokers who are running scams use a variety of tactics to trick people into giving them money. They might promise huge profits or use high-pressure sales tactics to get people to invest quickly without thinking. 

They may also offer phony “insider” information or claim to have secret knowledge that they will share for a fee. In some cases, they might even falsify information to make it look like they are legitimate or use fake endorsements to make themselves appear more trustworthy. Once people invest their money, the scammer will often disappear, leaving victims with no way to get their money back.

Note: Before investing money, it’s important to consider the potential risks and take a second thought before making any decisions.

Deposit and Withdrawal Methods

To start trading with this broker, you need to deposit at least 250 EUR. Notably, this is much higher than what most reputable brokers require. 

They claim to accept deposits via debit/credit cards, wire transfers, and e-wallets, but in reality, they push customers to use crypto. Crypto is difficult to trace, making it easier for scammers to remain anonymous.

Note: Reporting a broker scam is incredibly important as it not only helps protect you from further financial losses but also helps prevent other people from falling victim to the same scam. By reporting a scam, you can help bring the scammers to justice and potentially recover some of your lost funds.

Primeinv Summary

PrimeInv, like many unregulated brokers, operates a website that only serves as a facade for its shady and deceitful activities. Upon registering, we were quickly granted access to a typical broker user area that was both limited and suspicious-looking. 

Our investigation revealed a EUR/USD trade cost of 0 pips and a leverage cap of 1:200, along with trading instruments like forex currency pairs, shares, cryptocurrencies, commodities, and indices. Despite the seemingly good spread, it may have been manipulated or subject to heavy commissions. In any case, it’s clear that PrimeInv falls short of delivering a favorable spread.

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