ClimaxPrime is a forex broker that was registered in Saint Lucia on July 21, 2023, primarily offering forex and social trading services to investors. Its headquarters are located in Sofia, Bulgaria. This broker does not provide services to jurisdictions where it might conflict with local laws or regulations, such as the United States, UAE, Turkey, Israel, etc.
Company Registration Information and Regulatory Status:
According to public information on ClimaxPrime's official website, the entity registered in Saint Lucia is CLIMAX PRIME LTD, with the specific registration address at Ground Floor, The Sotheby Building, Rodney Bay, Gros-Islet, Saint Lucia P.O. Box 838, Castries, Saint Lucia. The business registration number is 2023-00320, and the actual operating address is Georgi S. Rakovski Street 140, 1000 Sofia Center, 3rd floor, Sofia, Bulgaria.
Upon verification, an entity named CLIMAX PRIME LTD with registration number 2023-00320 can be found in the Saint Lucia International Business Companies and International Trust Registry (ifc). However, this entity is not found in the Financial Services Regulatory Authority (FSRA) of Saint Lucia, nor in other jurisdiction's official financial regulatory authorities.
According to information obtained from a Whois search, the domain name of this broker's official website was registered on June 29, 2023. Moreover, as of February 17, 2024, this broker has been operational for less than a year.
Opening an Account:
To open an account with ClimaxPrime: Visit the broker's official website, click “Create an account” in the top right corner of the webpage, enter the required personal information such as name, phone number, nationality, email address, and create a password. After submission, the broker will send a verification code to the entered email address. Once the code is filled in, the account registration is successfully completed.
Account Types:
ClimaxPrime offers five different types of real trading accounts: DIAMOND, PRIME, CENT, STANDARD, ECN.
DIAMOND:
- Spread: 0 pips
- Minimum deposit: $20,000
- Overnight interest: Yes
- Maximum trading leverage: 1:300
- Trading commission: $4
- Stop-out level: 50%
PRIME:
- Spread: 0.3 pips
- Minimum deposit: $5,000
- Overnight interest: Yes
- Maximum trading leverage: 1:300
- Trading commission: $5
- Stop-out Level: 50%
CENT:
- Spread: 2.3 pips
- Minimum deposit: $10
- Overnight interest: No
- Maximum trading leverage: 1:300
- Trading commission: None
- Stop-out level: 20%
- Margin call level: 100%
STANDARD:
- Spread: 1.9 pips
- Minimum deposit: $100
- Overnight interest: No
- Maximum trading leverage: 1:300
- Trading commission: $0
- Stop-out level: 30%
- Margin call level: 100%
ECN:
- Spread: 0.6 pips
- Minimum deposit: $500
- Overnight interest: Yes
- Maximum trading leverage: 1:300
- Trading commission: $6
- Stop-out level: 30%
- Margin call level: 100%
Trading Platform:
ClimaxPrime offers the MT5 trading platform to its users. On the MT5 platform, one can only open a demo trading account or connect an existing trading account, not able to open a new real trading account.
Deposits and Withdrawals:
ClimaxPrime has not explicitly disclosed its supported methods, fees, and minimum amounts for deposits and withdrawals on its official website.
Summary:
Traderknows reminds investors that ClimaxPrime is a forex broker without effective regulation. Traderknows advises investors to preferably choose brokers with strong regulation and a good reputation for their investment and trading activities, to avoid unnecessary financial losses.
Currently, this broker is marked as 'Suspected of Scam' on Traderknows.
