FXVC
Centralspot Trading Ltd38.3Regulated
United KingdomEst. 2014CySEC
1:3001 licence
Is Prime Markets a scam?
Wikilix independent safety report
0%Scam risk
Insufficient evidenceConfidence: LOW
3.0/5Safety rating 3 out of 5
We cannot say whether this Prime Markets record is a scam, because the website on file for it, primemarkets.net, is not a registered domain and we found no evidence it ever operated as a brokerage. T…
Risk scorecard · each area scored 0 (clean) to 10 (worst)
Regulation5/10 · ModerateIdentity & transparency7/10 · HighWithdrawals & conduct3/10 · LowReputation5/10 · ModerateWebsite claims5/10 · ModerateOperational history7/10 · High
Editorial review
Broker Summary
What Wikilix has recorded about Prime Markets: its history, the licences it holds, its trading conditions and its fees.
Prime Markets is a forex and CFD brand that presented itself as a United Kingdom operation while also describing itself as registered in Saint Vincent and the Grenadines. WIKILIX could find no forex or CFD trading licence for it with any financial regulator, and the brand's own website, primemarkets.net, no longer resolves in DNS at all, so nothing it once published can be read or confirmed today.
Regulation. There is no evidence of authorisation by any statutory financial regulator. A company registration is not a licence, and in this case even the corporate claim does not hold up: the legal entity attributed to the brand, PRIME MARKETS LIMITED, is said to carry UK company number 02818995, and that number returns no result at UK Companies House. A name search on the same register returns no company called PRIME MARKETS LIMITED either.
What was offered. The recorded offering was MetaTrader 4 on Windows, iOS and Android, with three account tiers: a Standard account from a 2,000 USD minimum deposit, an ECN account from 50,000 USD with spreads from 0.2 pips, and a no-cash-deposit account. Leverage was capped at 1:100 across all tiers, base currencies were USD, EUR, GBP, CHF and JPY, and minimum trade size was 0.1 lots on forex or 1 lot on CFDs. Spreads were variable and instrument-dependent, from about 1.4 pips on EUR/USD and 3.8 pips on EUR/AUD, with no commission disclosed. Instruments spanned indices, commodities, precious metals, shares and cryptocurrencies. Funding was by Visa and Mastercard and by e-wallets, with no withdrawal fee stated. None of these terms could be re-checked against a live official website during this review.
Who it suits. Nobody. With no licence, no reachable website and an unverifiable operating company, there is no route for a client to deposit safely or to escalate a dispute to a regulator. A 2,000 USD entry barrier and a 50,000 USD ECN tier put real money behind an operator that cannot be identified.
Caveats. Because the official website is unreachable, the commercial terms above are historic and uncorroborated. Anyone contacted by someone using this brand name today should assume the contact is unrelated to any regulated firm and should not transfer funds.
Regulation check
Regulatory Licenses
We have not confirmed any regulation for Prime Markets. Money deposited with an unregulated broker is protected only by the company itself.
No regulation
Trading with an unregulated broker puts your deposit at risk.
No regulation
We have not confirmed any regulation for Prime Markets. An unregulated broker is not supervised by a financial authority, and money you deposit is protected only by the company itself.
What this means for you
- No compensation scheme covers your funds.
- No regulator to escalate a complaint to.
- No audit of how client money is held.
Trading accounts
Account Types
2 account types on record. Minimum deposit from USD 2,000. Leverage up to 1:100.
2 account types
| Account | Min Deposit | Leverage | Commission |
|---|---|---|---|
| StandardStandard | USD 2,000 | 1:100 | Not recorded |
| ECNECN | USD 50,000 | 1:100 | Not recorded |
Trading software
Trading Platforms
One trading platform on record: MetaTrader 4.
1 platform
- MetaTrader 4WindowsMacWebAndroidiOSDetails
Legal entities
Corporate Network
One legal entity behind the Prime Markets brand.
1 entity
- PRIME MARKETS LIMITEDinactiveUnited KingdomRegistration 02818995 (claimed; no such number exists at UK Companies House)The operating entity attributed to this brand. Company number 02818995 returns no result at UK Companies House, and no company named PRIME MARKETS LIMITED appears on that register, so the entity could not be verified.
Company registry check
Company Registration
Prime Markets names PRIME MARKETS LIMITED as the operating company. We could not confirm that registration on the registry.
Not confirmed on registry
- Legal entity
- PRIME MARKETS LIMITED
- Registration number
- 02818995
- Jurisdiction
- United Kingdom
- Registry
- UK Companies House
Comments
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