Primexpulse Ltd. Review

Primexpulse Ltd.

Investors Alert Primexpulse Ltd. – Regarding fraudulent or manipulative practices (insider dealing, market manipulation, misrepresentation of material information, etc.)

Introduction to Primexpulse Ltd.:

Primexpulse Ltd. is a forex broker that operates through the website www.primexpulse.com. According to its website, Primexpulse Ltd. was founded in 2016 and is based in London, UK. The website also claims that Primexpulse Ltd. has over 200,000 clients worldwide and offers access to over 250 trading instruments, including forex, commodities, indices, stocks, and cryptocurrencies. Primexpulse Ltd. claims to provide a user-friendly trading platform, competitive spreads and commissions, fast execution, and professional support.

Products and Services offered by Primexpulse Ltd.:

Primexpulse Ltd. offers three types of trading accounts: Standard, Premium, and VIP. The minimum deposit for the Standard account is $250, for the Premium account is $5,000, and for the VIP account is $20,000. The leverage for all accounts is up to 1:500. The spreads vary depending on the account type and the trading instrument, but they start from 0.1 pips for forex pairs. Primexpulse Ltd. also charges a commission of $6 per lot for forex and $10 per lot for other instruments.

Primexpulse Ltd. provides a web-based trading platform that is compatible with any device and browser. The platform has various features, such as advanced charting tools, indicators, market news, economic calendar, trading signals, and social trading. Primexpulse Ltd. also offers a mobile app for iOS and Android devices that allows traders to access their accounts and trade on the go.

Financial institution & regulatory license of Primexpulse Ltd.:

Primexpulse Ltd. claims to be authorized and regulated by the Financial Conduct Authority (FCA) in the UK, however, a search on the FCA register reveals that there is no such firm with that reference number or name registered with the FCA. Moreover, the FCA has issued a warning against Primexpulse Ltd., stating that it is not licensed or regulated in the UK and that it may be providing financial services or products without authorization.

Additionally, the Australian Securities and Investments Commission (ASIC) has also issued a warning against Primexpulse Ltd., stating that it is not licensed or regulated in Australia and that it may be involved in fraudulent or manipulative practices (insider dealing, market manipulation, misrepresentation of material information, etc.). ASIC advises investors to avoid dealing with Primexpulse Ltd. and to report any suspicious activity to them.

Trader’s Reviews and Customer Service of Primexpulse Ltd.:

Primexpulse Ltd. has received mostly negative reviews from traders who have used its services. Many traders have complained that Primexpulse Ltd. is a scam broker that does not allow them to withdraw their funds or profits, that it uses aggressive marketing tactics and pressure tactics to persuade them to deposit more money, that it manipulates the prices and spreads to cause losses, that it closes their positions without their consent, and that it ignores their calls and emails when they request assistance or complaints.

Primexpulse Ltd.’s customer service is also very poor and unprofessional. The website provides only an email address and a phone number as contact options, but many traders have reported that they never receive a response from the email or that the phone number is always busy or disconnected. Some traders have also claimed that they have been harassed or threatened by Primexpulse Ltd.’s representatives when they tried to withdraw their money or expose their scam.

How to Safeguard Against Fraudulent Brokers:

Forex trading can be a lucrative and rewarding activity if done with a reputable and regulated broker. However, there are many fraudulent brokers in the market that prey on unsuspecting traders and scam them out of their hard-earned money. Therefore, it is important for traders to do their due diligence before choosing a broker and to follow some basic guidelines to protect themselves from fraud.

Some of these guidelines are:

– Check the broker’s license and regulation status with the relevant authorities in your country or region.

– Verify the broker’s contact details and physical address on their website and on the regulator’s website.

– Read the broker’s terms and conditions carefully before signing up or depositing any money.

– Avoid brokers that offer unrealistic returns or guarantees, that promise no risk or losses, or that use high-pressure sales tactics.

– Test the broker’s trading platform and customer service with a demo account before opening a live account.

– Start with a small amount of money and withdraw your profits regularly to test the broker’s withdrawal process and speed.

– Keep a record of all your transactions and communications with the broker and report any suspicious or fraudulent activity to the regulator and the police.

Conclusion:

Primexpulse Ltd. is a forex broker that claims to offer high returns and low risks to its clients. However, it is not licensed or regulated by any authority and has been warned by the FCA and the ASIC for being involved in fraudulent or manipulative practices. Primexpulse Ltd. has also received many negative reviews from traders who have been scammed or mistreated by it. Therefore, we advise traders to avoid Primexpulse Ltd. and to choose a reliable and regulated broker instead.

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