Priectw is a contract-for-difference broker established on July 17, 2024, primarily providing investors with trading services in forex, precious metals, commodities, and indices. This broker does not offer services to residents of the United States, Iran, and North Korea, or to jurisdictions where it might violate local laws or regulations.
Corporate Registration Information and Regulatory Status
According to publicly available information on Priectw's official website (www.priectw.com), its company entity is Priectw Limited, registered with the U.S. Financial Crimes Enforcement Network (FinCEN) with MSB number 31000276858271. The broker also claims to be authorized and regulated by the Vanuatu Financial Services Commission (VFSC) and a member of the Financial Commission.
Upon verification, the FinCEN website confirms the registration of a company named Priectw with MSB number 31000276858271. However, FinCEN's primary mission is to protect the financial system from illegal activities and combat money laundering and other financial crimes, and it does not directly regulate the financial derivatives market. In the United States, the primary regulatory bodies for financial derivatives markets are the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC).
Moreover, the VFSC's list of licensed financial dealers does not include a company named Priectw, and the Financial Commission's member list also lacks any registration information for the company. Additionally, the legal documents on the "Terms & Conditions" page of the broker's website are merely icons without any actual documents behind them.
Therefore, Priectw (www.priectw.com) is essentially an unregulated scam broker website.
Trading Products:
Priectw offers customers a variety of trading products, including forex, indices, commodities, stocks, and cryptocurrencies.
- Forex: Forex trading involves the exchange of different currencies, known for high liquidity, allowing traders to profit from exchange rate fluctuations.
- Precious Metals: Precious metals trading markets typically include spot, futures, and options markets. Due to their hedging function and value preservation properties, they attract significant investor attention.
- Indices: Index trading allows speculation on the performance of the overall market or specific sectors without trading individual stocks. By exploring popular indices, one can uncover diverse trading opportunities and leverage high margins for potential gains.
- Commodities: Commodity trading covers key resources in global markets, allowing traders to buy and sell various raw materials, including metals, energy, and agricultural products.
Account Opening Process
When attempting to open an account on Priectw’s official website, the "Open Account" page shows no valid registration form and keeps refreshing continuously, preventing normal registration.
Trading Account Types
Priectw offers two different types of trading accounts: Standard Account and ECN Account.
Standard Account:
- Trading Platform: Priectw
- Execution Type: Instant Execution
- Trading Instruments: Over 250 currency pairs, indices, commodities, and stock CFDs
- Maximum Leverage: 1:500
- Minimum Spread: From 1 pip
- Commission: None
- Minimum Deposit: $200
ECN Account:
- Trading Platform: Priectw
- Execution Type: Instant Execution
- Trading Instruments: Over 250 currency pairs, indices, commodities, and stock CFDs
- Maximum Leverage: 1:500
- Minimum Spread: From 0.0 pips
- Commission: $6 per round trip
- Minimum Deposit: $200
Trading Platform
Priectw claims its proprietary trading platform is MetaTrader 4, highly customizable, allowing users to tailor charting methods to their trading needs. However, MetaTrader 4 is a classic financial market trading tool developed by MetaQuotes Software Corporation and has no connection with Priectw. Moreover, MetaTrader 4 does not list Priectw as a broker, and the download links provided by Priectw either do not work or lead to non-existent pages.
Deposits and Withdrawals
Priectw supports deposits and withdrawals via Mastercard, VISA, NETELLER, Skrill, and bank transfers.
Conclusion:
Traderknows warns investors that Priectw is a scam broker website with numerous flaws and no effective regulation. The site also provides no contact information. Investors are advised to choose brokers with transparent information, strong regulation, and a good reputation to avoid unnecessary financial losses.
Currently, this broker is marked as "Suspected Fraud" on Traderknows.
