PriMarkets is a new online trading platform that claims to give the most extensive range of instruments to the retail crowd. They apparently support cryptocurrencies as well. Their website itself is primitive in terms of transparency and there isn’t much to talk about functionality either.
Automated forms of trading are likely not supported and compared to mainstream brokers, they are a few generations behind. As far as their regulatory status goes, they are not listed under any regulatory authority and that alone is a big red flag. To know whether they are even worth your time, continue reading.
PriMarkets Overview
This platform is nothing more than an online brokerage. However, the key concern about them is their regulatory status and the initial capital requirement. Also, the available trading assets depend upon your account type which can be annoying for few people. Note that they offer only a web based trading interface.
After carefully going over all of their offerings, they don’t have a single distinguishing factor that makes them stand out. Given the fact that there are plenty of reputable solutions, it is better to stick with regulated brokers with a few years of history.
Account Types and Trading Conditions
5 account types are offered by them. Basically, to unlock more features and trading assets, clients are asked to commit more funds. On the higher end, to unlock everything they have to offer, clients have to deposit over 250,000 USD which is ridiculous. As we mentioned before, they don’t support automated trading bots or software.
Plus, the web based interface is always a step behind compared to solutions like MT4 or MT5. Spreads and other associated fees are also a mystery.
Support
We found only one email address and phone number on their platform. There are no guarantees about the response time though.
- Email – support@primarkets.io
- Phone – +447441901689
PriMarkets Review Conclusion
Platforms like PriMarkets are always like a ticking time bomb. Their motives and agendas are not client oriented and that’s the main reason as to why you need to avoid them.
In case you have already suffered financial damages, get in touch with us to know about the steps you can take to start tracking them down.
