PrimusLTD Review: Protect Your Investments From This Scam

If you’re in the market for a trustworthy forex broker, we strongly recommend staying away from Primus Ltd. While their name may present a professional image, and their trading terms may appear nice, Primus Ltd lacks regulation. Also, it operates anonymously and represents a substantial risk to future investors. Keep reading for more details in our PrimusLtd review!

PrimusLTD 101

So, is Primusltd legit? Right from the start, this firm seems to be trying to deceive traders into thinking it’s a legitimate UK company. Yet, after you check, it comes as no surprise that there is no record of Primus Ltd being registered with the Financial Conduct Authority (FCA) in the UK.

This absence of FCA registration is a big sign that the broker is working outside the bounds of the law. We should not rely on it.

On top of that, the Comisión Nacional del Mercado de Valores (CNMV), the government agency responsible for the financial regulation of the securities markets in Spain, has issued a warning, cautioning traders about the company’s unauthorized status. Besides, there are also warnings from FSMA, Bank Negara Malaysia (BNM), CONSOB, FSA Estonia, and ATVP. This multitude of warnings against this firm should be a red flag for any potential investor.

Therefore, we strongly recommend avoiding this broker and seeking out more legitimate options for investing your money. We will discuss the dangers of trading with fake brokers in some detail in the following paragraphs.

Why Regulation Matters

We must prioritize safety when choosing a trading company. Primus Ltd is unregulated, which is a significant concern for investors. 

It’s safe to say that trading with Tier 1 regulated firms (those regulated by ASIC, BAFIN, CySEC, etc.) is a much more secure choice. These regulatory bodies guarantee that brokers stick to strict standards, protecting your assets.

Trading Assets Available

This fake company claims to offer a variety of assets. Let’s take a look: 

• FX
• Stocks
• Cryptocurrencies
• Indices
• Commodities

However, it’s worth noting that they do not provide many examples of these assets. This is extremely bad for transparency.

Remember: Be cautious with your finances by not using unregulated brokers like Starlight Capital.

Trading Platforms They Offer

Despite its claims of offering top-notch software, the platform provided by Primusltd.net is basic. It is nothing more than a basic web-based platform. This limitation adds weight to our advice to avoid this unreliable broker.

Always explore reputable brokers that offer the highly praised MetaTrader platforms. It’s important to mention that while Primus Ltd does offer MT4 and MT5, their reliability is arguable.

With a 4.5-star rating, based on over 403 thousand reviews and well over 10 million downloads on Google Play, MetaTrader 5 is undeniably the most popular platform in the forex industry. 

MetaTrader 4 and 5 are preferred platforms by 80% of retail traders. These include customizable interfaces, support for different strategies, charts, indicators, and other advanced trading features.

Prevailing Trading Environment

Now, what about leverage and spreads? This fake company advertises that its spreads are competitively tight. Yet, no explicit details are mentioned anywhere. We also couldn’t find any specific info regarding the leverage offered by the company.

We must say that leverage can be quite risky, increasing both potential profits and losses. The EU and UK have set a leverage cap of 1:30 for legit brokers to protect retail traders. It’s crucial to avoid high-leverage Forex brokers to avoid the risk of big losses.

So, always choose brokers with Tier 1 regulations to know your investments are safe.

Note: Make sure to avoid fake brokers like FxElite. Keep your money safe and enjoy your trading experience. 

Withdrawal Policy

According to the provided info, Primus Ltd states that withdrawals will get the following fees:

• Wire transfers: 50.00 USD/GBP/EURO
• Credit cards: 25.00 USD/GBP/EURO, plus a processing fee of 10.00 USD/7.00 EUR/5.00 GBP
• ePayments: 25.00 USD/GBP/EURO

There is a 10% fee on withdrawals from accounts with less than 200 in turnover and/or from unverified accounts.

The minimum withdrawal amount for wire transfers is 250.00 USD/GBP/EURO, while for other methods, it’s set at 100.00 USD/GBP/EURO.

Trader Reviews on Trustpilot

Primus Ltd has received suspicious and poor 2.9-star Trustpilot reviews, particularly for their domain http://primus-ltd.net/. This is a clear sign to avoid them. 

When choosing a broker, it’s wise to opt for those with higher ratings and positive feedback from users. Regulated and popular brokers often have ratings of 4.5 stars or higher, giving us a safer trading environment.

Scam Broker and Scam Signal Tactics

Beware of fake broker tactics. Scam brokers are notorious for their corrupt practices, such as excessive fees, fake websites, and social media scams. These tactics can lead to significant financial losses for all. 

Besides, be cautious of scam FX signals and fake EAs (Expert Advisors) that promise unrealistically high returns. Always pick brokers and tools with a proven track record and positive user feedback.

Note: Please protect your funds by avoiding fake brokers such as PrimeMarkets. Stay safe while trading.

Can I Make Money From Online Trading?

Online trading can undoubtedly be prosperous. Still, it requires knowledge and the right trading tools. So, we are here to offer free consultations to help you make wise judgments in your trading journey.

We’ve also developed an AI Analysis Bot designed to assist traders in making better decisions. This bot uses advanced predictions to provide trading advice, offering a practical advantage to traders. You can be among the first to try it with our generous 20-day free trial, which includes 5 FX analysis reports and 5 stock analysis reports per month.

All in all, when it comes to choosing a forex broker, prioritize safety, regulation, and positive reviews. It’s best to avoid unregulated brokers like Primus Ltd and opt for trusted options to protect your assets and achieve success in trading.

FAQs