Prime Brokerz Review
A rather new binary options broker, we are going to review Prime Brokerz. I will tell you all I can find out about this broker, including their history. I will also review their terms and conditions. You will know if they offer a demo account and mobile trading. Finally, I will also tell you if I think Prime Brokerz is a scam.Visit Website
- High payoffs
- Many complaints
- Not licensed or regulated
Deposit & Withdrawal Methods
- Company:Danesi Global Limited
- Incorporated:Marshall Islands
- Minimum Deposit:$250
- Minimum Withdrawal:$100
- Minimum Trade:
- Demo Credits:
- High/Low, Pairs, One Touch, Ladder, Forex
- 30 sec, 60 sec, 90 sec, 2 min, 5 min, 15 min, 30 min, 45 min, 1 hour, End Of Day
- iPhone, iPad, Android
About Prime Brokerz
Owned and operated by Danesi Global Limited in the Marshall Islands, Prime Brokerz provides signals in various assets in binary options, allowing investors to trade in short or long term.
With a minimum investment of $250, traders can begin investing in assets within stocks, currency pairs, indices and commodities. What’s more, Prime Brokerz offers a revolutionary account savings plan in which depositors can earn up to 4% interest.
Prime Brokerz History
Prime Brokerz is a very new binary options broker. They started operations from the Danesi Global Limited headquarters in the Marshall Islands in late 2015.
Prime Brokerz has not been licensed or regulated, and I cannot find where they have even attempted to file for licensing.
Prime Brokerz Terms and Conditions
The best way to understand a binary options broker is to examine their terms and conditions. I decided to take a look at the Prime Brokerz terms. This is a partial list of what I found:
- Prime Brokerz does not accept United States clients
- You must be 18 or older to use Prime Brokerz services
- Prime Brokerz reserves the right to refuse service to anyone for any reason
- Financial information on the site is for information only and should not be construed as financial advice
This is just a small portion of their terms and conditions. I suggest you read them completely before agreeing to open an account.
Prime Brokerz Withdrawal and Bonus Terms
Prime Brokerz will only allow withdrawals after 30 days past the clients last deposit. The minimum withdrawal is $100. If your deposit was less than $500, you will be charged $25 for each withdrawal. If over $500, it will be up to 5% of the deposit.
To withdraw, you must submit a copy of the credit card used, a copy of a utility bill showing your name and address and a copy of your passport or photo id. Withdrawal requests, once all compliance documents are verified, will be processed within 2 to 5 business days.
With bonuses, Prime Brokerz stipulates that the investor must trade a volume of 20 times their deposit plus the bonus before they can withdraw. So, if you deposit $500 and receive a $100 bonus, you must trade a volume of $12,000 before you can withdraw.
This is a good reason to not accept any bonuses. These volumes are quite high.
Prime Brokerz Demo Account
I do not see where Prime Brokerz any type of demo account. They do offer a wide variety of binary options trading educational resources.
Prime Brokerz Mobile
I do not find as of yet, where Prime Brokerz has mobile applications. If I find a change in this, I will let you know. While you may be able to use some of their features on a mobile device, without an application, I doubt you will be able to use all the features.
Prime Brokerz Scam Watch
There is not one thing about Prime Brokerz that impresses me. In their short time of being in operation, I discover that there are a wide variety of complaints roaming the Internet. Most of these are about over zealous account managers who talk small winners into investing more money, and they guarantee absolute winning trades. These guarantees are not good, and the investor usually finds the funds in their account depleted.
While I cannot absolutely say that Prime Brokerz is a scam, there are many signs that they just may be. They are not licensed, and the bonus terms and conditions are completely outrageous.
I suggest you use a binary options broker that is licensed and reliable. I don’t see either of those with Prime Brokerz.
If you have traded through Prime Brokerz, please tell us your experience. We would especially like to know how withdrawals went. You can post that information in the comment section below.