Prime Market IQ is a cryptocurrency trading platform suspected of fraud. Its official website, primemarketiq.net, was registered on January 27, 2024. The site claims to be one of the most modern companies in the world providing cryptocurrency mining services, offering investors the highest quality, safest, and most reliable cryptocurrency trading platform.
Company Background and Regulatory Status
According to publicly available information on primemarketiq.net, the Prime Market IQ brand is authorized and regulated in multiple jurisdictions.
Prime Market IQ Limited is regulated by the Cyprus Securities and Exchange Commission (CySEC) with CIF license number 185/12. It is also authorized by the Financial Sector Conduct Authority (FSCA) in South Africa with FSP number 46614. Additionally, the company is registered with the Financial Conduct Authority (FCA) in the UK with registration number 600475.
Prime Market IQ UK Limited is authorized and regulated by the FCA, under license number 777911.
Prime Market IQ Global Limited is regulated by the International Financial Services Commission of Belize, with license numbers IFSC/60/345/TS and IFSC/60/345/APM.
Card transactions are handled by Prime Market IQ Global Services, registered under number HE 335426, and is a wholly owned subsidiary of Prime Market IQ. The cardholders' communication address is: backoffice@Prime Market IQ.
Prime Market IQ Global Limited is also a member of the Financial Commission, an international organization focused on resolving disputes in the financial services industry of the forex market. The broker is also registered in Australia with company number ABN: 2018AD947.
Upon verification, most of the regulatory information used on Prime Market IQ’s website has been found to be stolen from the well-known broker FXTM and pertains to content that is no longer valid.
Additionally, the Cypriot Companies and Intellectual Property Registration Office shows that the company registered under number HE 335426 is FT GLOBAL SERVICES LTD, not Prime Market IQ Global Services.
Furthermore, the Financial Commission does not list a registered member named Prime Market IQ Global Limited, and the Australian business registry has no record of a company with ABN number 2018AD947.
Account Opening Process
The steps to open an account with Prime Market IQ are as follows:
- Visit primemarketiq.net and click the “REGISTER” button to access the account application page.
- Fill out the account application form with your name, email address, phone number, and set a password. Once submitted, the account is successfully created.
- After logging in, users must complete the KYC verification process before they can begin trading.
Trading Account Information
The Prime Market IQ website claims to offer five different investment plans: Bronze Plan, Silver Plan, Diamond Plan, Gold Plan, and Optimum Plan.
Bronze Plan
- Investment Range: $200 - $4,999
- Weekly Return: 14%
- Referral Bonus: 10%
- Compounding
Silver Plan
- Investment Range: $5,000 - $19,999
- Weekly Return: 24.5%
- Referral Bonus: 10%
- Compounding
Diamond Plan
- Investment Range: $20,000 - $49,999
- Weekly Return: 31.5%
- Referral Bonus: 10%
- Compounding
Gold Plan
- Investment Range: $50,000 - $79,999
- Weekly Return: 38.5%
- Referral Bonus: 10%
- Compounding
Optimum Plan
- Investment Range: $80,000 - Unlimited
- Referral Bonus: 10%
- Compounding
Trading Platform and Deposits/Withdrawals
Prime Market IQ claims on its website to provide a self-developed trading platform that can only be accessed through the web portal on the official website. The broker does not offer download links for either PC or mobile versions of the trading platform. Additionally, the broker supports deposits and withdrawals via cryptocurrencies.
Conclusion
Traderknows advises investors that Prime Market IQ (primemarketiq.net) is an illegal site without a legitimate corporate entity or proper regulation, and it uses invalid information stolen from other brokers. Investors should exercise caution and choose trading platforms that are regulated and transparent to ensure the safety of their funds and reduce investment risks.
