Is PrimeFin a scam or legit broker? Read PrimeFin Review
FSCA warns the public against PrimeFin
PrimeFin, a global cryptocurrency, forex, and CFD broker, launched in July 2020. They are situated at Unit B Lot 49, 1st Floor, Block F Lazenda Warehouse 3 Jalan Ranca-Ranca, 87000 FT Labuan, Malaysia, and are formally owned by Caps Solutions Ltd. The South African phone number to call is +27418800785, and the email address for customer service is Support@PrimeFin.com. Visit the PrimeFin website at https://www.PrimeFin.com.
In the footer of the website, it says that the broker was supposedly formed under Labuan law and is regulated by the Labuan Financial Services Authority. Firstly, Malaysia’s official financial regulator is not the Labuan Financial Services Authority (Labuan FSA). The Securities Commission of Malaysia (SCM) regulates all FX and CFD brokers in the nation.
The Securities Commission of Malaysia does not have a license for PrimeFin, hence, the company is not permitted to offer any financial services there or in any other regulated market.
The broker presents itself as a trustworthy, legally-recognized business. The broker guarantees newcomers training and account maintenance from knowledgeable employees who will guide them in the right direction. The founders of the company promise that honesty and good manners are the foundations of the organization’s success. We do not advise sending money to this broker, as this broker is not safe for handling your money.
Possible scam activities of PrimeFin
Forex trading scams, Binary OPtions trading scams, Cryptocurrency trading scams and other investment trading scams are harder to spot. But there are some signs.
Here are some of the very possible reasons why we have flagged this broker as a scam broker in this PrimeFin review.
- The rules and regulations, Bonus and Withdrawal policies are not legitimate and they are made for defrauding traders.
- The broker makes continuous calls to the traders and urges them to invest higher and higher amounts.
- The broker may have made a number of false claims through its website.
- The broker promises returns that are too good to be true.
- The risk warnings may not be disclosed on their webpage or would be hidden.
- The broker remains operational for some time and suddenly you are not able to contact the broker or the website seems down. The broker also changes the name and website URL without any notice to existing traders.
- The broker may be located in the countries or small islands where there is no proper regulation and registering a company is very easy. Usually, these countries are havens for scam brokers.
- This broker provides you good chances of making profits and when you decide to withdraw your money, they will state their illegitimate rules of withdrawals, and ultimately you are not able to make a withdrawal.
Negative PrimeFin Reviews and Complaints
PrimeFin has got many negative reviews and traders who traded with this broker have raised many complaints against it. ReportScam has investigated a lot about this broker and based on the negative reviews, complaints and other scam features, we have listed this broker in the list of scam brokers 2023.
Example of Negative PrimeFin Review
After Searching internet you will find many negative PrimeFin Reviews. Users have frustrations and feel cheated after trading with this broker. ReportScam does not recommend traders to trade with this broker and your funds may not be safe with this broker and PrimeFin reviews are negative. Instead we recommend looking for regulated and reputed brokers who can really help in growing your investments.
Scammed by PrimeFin? How to get your lost money back from PrimeFin?
The best solution recommended for getting your lost money back from PrimeFin is Report Scam Community
It is one of the few legit recovery assistance organizations which are actually concerned with a victim’s recovery from losses. They are a committed team of Recovery specialists who have already helped hundreds of scam victims in recovering their lost money. Report Scam provides free Consultation and anyone can register by filling a very short complaint form.
PrimeFin Review: Conclusion
To begin with, PrimeFin is a mysterious site that needs validity. It isn’t authorized to offer trading services as it does not hold any valid license and is targeting clients of different nations. So, we advise you to stay away from a such brokers as your money may be at high risk with them.
Also, to prevent yourself from scams like – Forex scams, Binary scams, Romance/Dating scams, Cryptocurrency scams, or any other scams, you should pick a broker or company regulated by some major regulators like FCA, FINMA, SEC, FMA, ASIC, etc. Check the reviews of brokers and also read the policies and terms and conditions. These small details will prevent you to become a victim of broker scams.
To read more about Scam Brokers and their Reviews, Visit Scam Brokers 2023 Page to avoid Cryptocurrency trading scams, Forex trading scams, or other online scams.
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Note: Report Scam Community has conducted many researches before flagging PrimeFin as a possible scam in this PrimeFin Review.Are you planning to trade with PrimeFin and invest your money? Report Scam suggests you to read this PrimeFin Review first.
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