In this section we will analyze the broker Prime FX (owned by PFX Bank, which in turn is part of CRLINK Limited), in some cases it is also called PFX Bank. Is Prime FX a trusted broker? We will not only analyze the broker's website, but also user comments, reviews, and the reputation that the broker has on the internet.
Prime FX is a Forex and CFD broker and owns based in Dominica (also known by its official name "Commonwealth of Dominica"), a small island very close to Puerto Rico and the Dominican Republic. The broker does not mention anything about its regulation which is already a bad sign, we believe that it is an UNREGULATED broker.
Now we will go on to analyze the different types of account that the broker offers. This broker offers 4 different types of account.
We will start by analyzing the Silver account: the minimum initial deposit is $ 2500, the spread is fixed from 1 and variable from 0.5, the maximum leverage is 1: 400.
This type of account is followed by the Gold account: the minimum initial deposit is $ 1000, the spread is fixed from 0.7 and variable from 0.5, the maximum leverage is “on demand”.
This type of account is followed by the Platinum account: the minimum initial deposit is $ 25.000, the spread is fixed from 0.4 and variable from 0.3, the maximum leverage is also on request.
The last type of account is the Islamic account: the minimum initial deposit is $ 2500, the spread is fixed from 1 and variable from 0.5, the maximum leverage in this case is 1: 400.
Notably platforms to operate provided by Prime FX are: Sirix and MT4. Here are more specifications on the types of accounts in case you want to go into more detail:
Now we will go on to analyze the broker's website in search of resources and help for the trader.
Some of the resources are: economic calendar (for some countries it is blocked), graph analysis (for some countries it is blocked), fundamental analysis (although it is in English), technical analysis (also all in English) and a section FAQ (also entirely in English).
PrimeFX and FXC Markets, are they the same company?
In the next series of images, on the left the Prime FX or PFX Bank website and on the right the FXC Markets website (you can read here the review on FXC Markets), we will see similarities that make us believe (thanks to Martin for pointing this out) that it is the same company, or the same people behind the broker:
In this first image, notice the Menu, at the top, it is the same, the sections and their order: "Accounts - Markets - Platforms - Tools & Resources - Partnerships - About PrimeFX / FXC", click here. to see the image in full size:
In this second image we see the section "Fx Trading Conditions" the texts are exactly the same, click here. to see the image in full size
Here, we notice in the "Commodities" section again, the texts are exactly the same, click here. to see the image in full size
In the fourth image the “Risk Disclosure” or Risk Warning, again, the text is exactly the same, click here. to see the image in full size
In the fifth and last image, in the section “Switch to PrimeFX” and “Switch to FXC Markets”, again, the text is exactly the same, click here. to see the image in full size. There are more examples on the website that show what we are aiming for.
Other information about Prime FX
We will leave you some more information in case you want to contact the broker, or see their website for yourself.
Phone number+ 44 7441900076
Email: [email protected]
Ending with this section, in our opinion Prime FX broker, not trustworthy, due to lack of relevant information on its website (such as its regulation) and also due to different comments and emails received from customers.
January 2018 update: Due to numerous negative comments and emails from Prime FX clients expressing that they were unable to withdraw their money, we believe that Prime FX is not a reliable broker, it is also an UNREGULATED broker.
What is your opinion? Have you traded with this broker? We invite you to collaborate with us and vote, you can also leave a comment on our website.
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26 comments on «Prime FX - PFX Bank: Rating and Comments»
I have my account active in PFXBank / Prime FX, I have 113000 Eur of equity, I can trade but, for almost 3 years, I have requested some withdrawal amounts from them and they DO NOT do it, at first they answered me but some time later they no longer answer me Nor do they attend. I deposited 35000 EUR. and I had a profit of 30000 and they no longer return anything, that is, they scammed my money. Can I go to any instance to try to get some of my money back?
Hello Guillermo, thank you very much for sharing your experience with Prime FX - PFXBank, we are really sorry for what you've been through… Can you tell us more about your experience with this company? Do you remember how you came to find them? Do you have names of advisers, emails?
On how to recover, being an unregulated company, it does not have a regulatory body that controls it, you have the regulator of your country, which country are you from?
The man is the owner of this broker. He is in El Salvador. His name is Carlos Espinal. Look for him on Facebook, Twitter, Instagram. He is wanted by the Fbi if they find him, notify the authorities ,,, because there is a reward.
Excusa, ma ho fatto a ricerca sul site dell'FBI ma non ho trovato questo gentiluomo. I don't think if I'm stupid because I want to trace your Facebook or Twitter, I know that it's not just a false name.
do not be so blind internet serves to investigate before putting the money that can be the feeding of your children at least make sure who are stealing it,