PRIMAL-FX TRADING is a forex broker registered on its official website on May 16, 2023, primarily offering financial trading services such as forex and cryptocurrencies to investors. The company's headquarters address is not disclosed, and it does not provide services in jurisdictions where it may violate local laws or regulations.
Company registration information and regulatory status:
The bottom of the PRIMAL-FX TRADING official website page states, "PRIMAL-FX TRADING (www.primalfxtrade.com) is licensed by the Cyprus Securities and Exchange Commission (CySEC) with CIF license number 105/12 and is regulated by the Belize International Financial Services Commission (IFSC) with license numbers IFSC/60/385/TC and IFSC/60/315/AEM. The company is also registered with the US Companies Registration Office with registration number 21216603."
Upon verification, the Cyprus Securities and Exchange Commission (CySEC) cannot find the registered entity with license number 105/12, and the Belize International Financial Services Commission (FSC) also cannot find the registered entity with license numbers IFSC/60/385/TC and IFSC/60/315/AEM. Additionally, since the broker has not disclosed the entity name and registration address for the company with registration number 21216603, the registration and regulatory information for this entity cannot be verified.
Furthermore, the company's claimed registration and regulatory information on its official website is being used by several fraudulent broker platforms, including xtbcryptotrading, BitPrimeOption, Cryptoresol, CrispFinances, cryptorangefxt, Elitesurefinace, mexcinvestment, Trust Income, IBES TRADING FX, CRYPTO BINARY TRADE, Carlcent Metal Investment, BITFX INVESTMENT PLATFORM, PRIZZYBIZ FOREX COMPANY, SMART MIND ASSET, MKUPG ASSETS, among others.
Account Opening:
To open an account with PRIMAL-FX TRADING, visit the broker's official website, click on "GET STARTED" on the homepage, or "REGISTER" in the upper right corner of the webpage to access the account registration page. Fill in the account registration information form and submit it. After submitting the registration form, the account will be successfully registered, and users can log in to the account to start trading.
Account Types:
PRIMAL-FX TRADING offers two different types of trading plans for investors: the BASIC PLAN and the Gold ???? PLAN.
BASIC PLAN: This plan requires a deposit amount ranging from $1,000 to $10,000, with a minimum profit of $1,100 and a maximum of $11,000. Investors can receive a maximum 5% trading bonus, access all platform features, and choose from over 75 different assets for trading. The withdrawal processing time is within 24 hours. The daily return rate is 10%, and the plan duration is 1 day.
Gold ???? PLAN: This plan requires a deposit amount ranging from $2,000 to $5,000, with a minimum profit of $3,600 and a maximum of $9,000. Investors can receive a maximum 5% trading bonus, access all platform features, and choose from over 75 different assets for trading. The withdrawal processing time is within 24 hours. The daily return rate is 20%, and the plan duration is 4 days.
Trading Platform:
The broker's official website does not mention the trading platform it provides to users. It was discovered during the registration process that this broker only offers a proprietary web-based trading platform.
Deposit and Withdrawal of Funds:
PRIMAL-FX TRADING supports deposits using cryptocurrencies. If using other payment methods, users need to contact customer support. Withdrawals can be made through Paypal, Bitcoin wallets, MoneyGram, Western Union, or directly to the user's local bank account.
Conclusion:
Traderknows warns investors that PRIMAL-FX TRADING, along with BitPrimeOption, Cryptoresol, CrispFinances, xtbcryptotrading, mexcinvestment, Elitesurefinace, cryptorangefxt, Trust Income, IBES TRADING FX, CRYPTO BINARY TRADE, Carlcent Metal Investment, BITFX INVESTMENT PLATFORM, PRIZZYBIZ FOREX COMPANY, SMART MIND ASSET, MKUPG ASSETS, and other brokers, are fraudulent broker platforms using the same false company registration information and regulatory details. It is advisable to choose trading platforms with transparency, strong regulation, and a good reputation to avoid unnecessary financial losses. Currently, this broker is marked as a "Ponzi scheme" on Traderknows.
