WikiFX Scam Alert: Plz keep clear of Prime Coin!!!

Investors who are still trading forex at Prime Coin had better quit trading ASAP!!! Investors who have been deceived by this broker please contact WikiFX to help you recover your funds!!!

Let us start with the most important – the recent warning on August 19th against Prime Coin (Prime-coin.live) issued by the Financial Conduct Authority (FCA) in the UK. You may check the warning on the screenshot below.

Source: https://www.fca.org.uk/news/warnings/prime-coin

FCA believes that Prime Coin may be providing financial services or products in the UK without its authorization. Prime-coin.live is not authorized by FCA and is targeting people in the UK. Clients will not have access to the Financial Ombudsman Service or be protected by the Financial Services Compensation Scheme (FSCS), so you are unlikely to get your money back if things go wrong!

Also be aware that Prime Coin may give out other details or change its contact details over time to new email addresses, telephone numbers or physical addresses!

WikiFX also paid a visit to the brokers official website to learn more. Prime Coin offers a web based platform, which you may check on the screenshot below. And although it features some standard functionalities like live quotes, market and pending orders, and basic charts, it obviously lacks more advanced options, readily available with professional trading platforms like MetaTrader4 and MetaTarder5. For example we definitely miss the option to run automated trading sessions – something you can easily do with your MT5 or MT4.

The spreads the broker offers are also not impressive – as much as 3 pips on EURUSD. Keep in mind that something around 1.5 pips could be considered average – anything higher would lead to you paying quite a lot of money to the broker just to be able to trade, and that would simply eat away your profits.

Furthermore, Prime-coin.live asks for at least $250 in order to open a trading account – which is actually quite a lot. Many great brokers would open an account for much less – even for as little as $10 on some occasions.

Whats more, Prime Coin charges huge withdrawal fees, as you can see from the screenshot below. There is an additional fee for accounts that have not reached a certain turnover and have not been verified – which is absurd. No legitimate broker would ask you to reach a turnover before you can withdraw – but this is one way for the scammers to delay your withdrawals.

There is also the offer of bonuses – but to withdraw those, you would have to reach a turnover of 25 times the deposit plus the bonus.

Such scammers often change their Terms and Conditions so the trading volume will probably only keep growing – and the clause might also start including your own profits and deposits. This is just another trick meant to prevent you from getting access to your own money.

Now let's search “Prime Coin” on WikiFX APP to find out more about this broker. WikiFX is an authoritative global inquiry platform providing basic information inquiry and regulatory license inquiry. WikiFX can evaluate the safety and reliability of more than 36,000 global forex brokers. WikiFX gives you a huge advantage while seeking the best forex brokers.

As you can see, based on information given on WikiFX (https://www.wikifx.com/en/dealer/4318141292.html), Prime Coincurrently has no valid regulatory license and the score is rather negative - only 1.03/10! WikiFX gives brokers a score from 0 to 10. The higher the score is, the more reliable the broker is.

Investors are advised to search relevant information on WikiFX APP about the broker you are inclined to trade with before finally deciding whether to make investment or not. Compared with official financial regulators which might lag behind, WikiFX is better at monitoring risks related to certain brokers - the WikiFX compliance and audit team gives a quantitative assessment of the level of broker regulatory through regulatory grading standards, regulatory actual values, regulatory utility models, and regulatory abnormality prediction models. If investors use WikiFX APP before investing in any broker, you will be more likely to avoid unnecessary trouble and thus be prevented from losing money! The importance of being cautious and prudent can never be stressed enough.

In a nutshell, it's not wise to invest in Prime Coin. WikiFX reminds you that forex scam is everywhere, you'd better check the broker's information and user reviews on WikiFX before investing.

You can also expose forex scams on WikiFX. WikiFX will do everything in its power to help you and expose scams, warn others not to be scammed. In addition, scam victims are advised to seek help directly from the local police or a lawyer.

WikiFX keeps track of developments, providing instant updates on individual traders and helping investors avoid unscrupulous brokers. If you want to know whether a broker is safe or not, be sure to open WikiFXs official website (https://www.WikiFX.com/en) or download the WikiFX APP through this link (https://www.wikifx.com/en/download.html) to evaluate the safety and reliability of this broker!