Prime Asset Trade Review – Honest Analysis And Chargeback Guide
Current ownership of the brand belongs to PrimeAsset Trade B.V. According to their T&Cs, they are registered in the Netherlands, but not US or UK as they primarily show.
But if the broker is licensed anywhere, none of that would matter really. Yet, without it, everything matters. All these irregularities and more details, you can find in this unbiased Prime Asset Trade review.
|Regulated By:||No Regulations|
|Is This Company Safe?||No|
|Have Warnings From:||CNMV, FSMA|
|Registered In:||UK (allegedly)|
|Trading Platforms:||MT4 (allegedly)|
|Deposit Bonus:||Not available|
|Trading Assets:||Cryptos, Currencies, Commodities|
|Free Demo Account:||Not Available|
|How To Withdraw From This Company?||After a warning from CNMV and FSMA, we highly doubt that any withdrawals would be possible with this broker. If any problem during the withdrawal procedure occurs, feel free to contact our chargeback experts for advice.|
Legal Info: Is Prime Asset Trade Legit Or A Scam?
As the company comes from the Netherlands, it should have an AFM license. Yet, their register was empty upon search of this broker. Not a big deal if they have other top-tier licenses. For example, FCA, BaFin or ASIC. However, the results were the same.
But what came up about Prime Asset Trade scam broker is multiple warnings. Primarily from Spanish CNMV which is followed by republishing of Belgium FSMA.
Who Are Prime Asset Trade Clients?
As the analysis shows, the company mainly targets countries with weak regulations. Luckily, they are exposed and it’s a matter of time before they will vanish completely. Anyway, scammed traders mostly come from:
- South Africa
If your country is not on the list, feel free to leave a comment below. But also to contact us directly if you need refund advice.
Investment Costs With Prime Asset Trade
Important to realize is that the Prime Asset Trade broker doesn’t reveal any trading conditions, not even the leverage. Practically, you are gambling with them and without regulations, they can make up any costs they want.
These are just some of the tricks scam brokers are using. More of those can be seen in our Coin2FX review.
At the moment, there is no visible information about the welcome bonus. However, the company offers a 10% referral bonus program. So the more people you make miserable, the more you gain. That’s the whole agenda of this scam broker.
Prime Asset Trade Trading Features
The company claims to offer capital safety and insurance, but also a regulated environment. However, they don’t reveal what software they are using. But instead of third-party options, like cTrader or MetaTrader, you can expect web trader. If there is any trader available at all.
Available Trading Assets
As can be seen, the company promotes only two categories. But the highlight is on highly volatile yet popular cryptos. The whole arsenal available is:
- Commodities – gold, crude oil
- Cryptos – BTC, DASH, DOGE
Prime Asset Trade account types present you with fake investment plans. There are three choices. Of course, with a higher deposit, you get better conditions. But in this case, only the insurance percentage, which is also fake. The options are:
- Starter – $100 / monthly withdrawal / 0.5% avg daily payout
- Basic – $500 / quarterly withdrawal / 0.4% avg daily payout
- Representative – $10.000 / quarterly withdrawal / 0.35% avg daily payout compounded
Mobile Trading App
Same as with the whole software technology, mobile apps are non-existent. Practically, this broker expects you to deposit your hard-earned money based on nothing.
They are not even professional enough to deliver proper trading tools.Note that they are not the only bad broker. You can find more irregularities in our FxActive Broker review.
A demo account with a scam broker is hardly possible. Primarily because scam brokers are hiding their flaws, but also trading conditions. Moreover, the ones that offer a demo are just to delude you to believe they are legit. However, without regulations, everything is just a farce.
Prime Asset Trade Withdrawal
In fact, for withdrawal options, the company only uses crypto transfers. Yet, processing time and fees are not revealed.
But be aware of the different fraudulent schemes these brokers are using. Primarily non-existent AML laws and verification issues. This way they prolong withdrawal requests easily. They can also do so with non-existent fees or taxes which they require you to pay. But don’t be a fool.
According to the company they offer a UK phone line, most likely VOIP service. But also, there is e-mail, live chat and WhatsApp. Yet, we highly doubt they would accept any video calls.
In any case, the company doesn’t have any reviews online. Therefore, it’s hard to determine if their customer service is reliable or not. But after everything seen so far, you can pray for the best.
Key Information To Consider About Prime Asset Trade?
Considering all the downsides mentioned in this Prime Asset Trade Review, we wouldn’t trust this broker. Ultimately the choice is yours. But without regulations, transparent conditions and withdrawal policy, you can’t expect anything positive.
But finally, the thing you were waiting for. The ways to recover your money. Since the company mainly accepts crypto, you might need our CipherTrace technology. Our refund specialists are using it to track down crypto transfers to the original and verified crypto destination. Afterward, you can start the refund process. If you lost money to this broker, book your consultation now!
What Does Prime Asset Trade Do?
Prime Asset Trade pretends to be a legit brokerage that offers commodity and crypto trading services.
Is Prime Asset Trade Trustworthy?
No. The company is not licensed by any trusted authority. On the contrary, there is a warning from Spanish CNMV issued against the broker.
How Does Prime Asset Trade Make Money?
This broker only makes money from your deposits. Try to withdraw money and see. But if you experience any issues, contact our chargeback team immediately.