PrimeNox Review: How PrimeNox Deceives Unsuspecting Traders

Why is PrimeNox such an unreliable and shady Forex brokerage? Is it because of the lack of transparency or because of the ineffective trading platform?

These are just the tip of the iceberg, unfortunately. Read our PrimeNox Review to learn the nasty truth about this broker. Also, find out how you can get your money back from cyber con artists.

Legal Info: Is PrimeNox Regulated?

PrimeNox claims to be a legitimate UK Forex broker. Yet, this anonymous website, like Fantex, has been blacklisted as a scam! The Belgian Financial Services and Markets Authority (FSMA) is the financial regulator that issued a warning against PrimeNox on September 6 this year. 

Therefore, PrimeNox isn’t licensed to offer services. Trading with unregulated brokers is risky, which is why we recommend you invest your hard-earned funds elsewhere. Try finding a licensed provider.  

Make sure your broker legally operates under the watchful eyes of top-tier financial market regulators such as the FCA (UK), CFTC & NFA (US), ASIC (Australia), IIROC (Canada), MAS (Singapore), CySEC (Cyprus), etc. 

If PrimeNox scammed you, we can help you retrieve your money!

Who Are PrimeNox’s Targets?

According to godaddy.com/whois, the primenox.com website domain was created on April 11, 2023, despite the broker claiming that this business has been ongoing since 2009. Since the aforementioned date, the financial swindler has been mainly targeting traders in the following countries:

• United Kingdom;
• Australia;
• Belgium;
• Switzerland.

Fortunately, it did not take the Belgian FSMA long to notice the scam that PrimeNox is running. Please heed the warning from the regulator and avoid the phony platform altogether. 

Trader Reviews – Sharing Experiences

PrimeNox did not receive many reviews. In fact, we found only five – two positive and three negative. You can read the reviews for yourself on trustpilot.com and personal-reviews.com but please do not ignore the complaints.

Traders who claim to have lost money to PrimeNox presented solid arguments and grounds against the anonymous website. As we mentioned, it’s better to avoid unregulated platforms and opt for licensed brokers with great reputations.  

PrimeNox Trading Platform

PrimeNox offers a rudimental and ineffective web-based platform with basic charts, graphs, and indicators. The online trading terminal is suitable for beginners but not for intermediate and advanced traders because it does not offer cutting-edge tools such as automated trading or live market reports.

This platform can be used to trade popular assets such as Forex currency pairs, CFDs on stocks, indices and commodities, and cryptocurrencies. There is no mobile trading app though.

It’s important to stress that web platforms, like the ones offered by PrimeNox and Gfxroyal, can easily be manipulated and rigged so be careful.  

If you’re having issues with the PrimeNox platform, we can help you recover your funds.

PrimeNox Account Types

PrimeNox offers six live trading account types with varying trading conditions and benefits:

The maximum leverage is unknown. As for the trading costs, PrimeNox advertises tight spreads from 0.75 pips, which is pretty competitive but useless if the platform is rigged. 

The company also offers welcome bonuses, ranging from 10% to 50%. Bonuses directly violate the trading rules and regulations in force in the European Economic Area. And rightfully so given that PrimeNox included a shady bonus clause.

Namely, the website says that “bonuses issued to Client by primenox.com may only be withdrawn subject to execution of a minimum trading volume of 25 times the deposit amount plus the bonus issued,” which is an insane volume to achieve. Don’t let the scammer condition you with such requirements.

PrimeNox Demo Account

PrimeNox does not offer a risk-free demo account, despite advertising it. If you’re a beginner trader, you first want to try out the platform with virtual funds instead of risking real money.

Unfortunately, PrimeNox offers no such option, which is yet another reason why you should avoid this broker. Legit providers always include a demo account that can be used for a free trial period.

PrimeNox Withdrawal Process

PrimeNox’s website lists multiple different payment methods for deposits and withdrawals:

• Credit/debit cards (MasterCard, VISA);
• Wire transfers;
• E-wallets (Skrill, Neteller, etc.);
• Cryptocurrencies (BTC, ETH, LTC, etc.).

The minimum deposit requirement is 250 USD. As for the withdrawal fees, PrimeNox charges 50 USD for wires, 25 USD for cards plus a processing fee of 10 USD and 25 USD for e-wallets.

Since some traders complained about not being able to withdraw funds, we will tell you a bit more about the chargeback procedure.

Funds deposited via MasterCard and VISA credit/debit cards can be refunded via a chargeback, which can be requested at the issuing bank within 540 days. Wire transfers can be reversed via a recall but this action can only work for transactions that are not yet complete.

Key Facts To Consider About PrimeNox

PrimeNox is an unlicensed scam broker claiming to operate out of the UK. The main targets of PrimeNox are traders from the United Kingdom, Australia, Switzerland, and Belgium.

The platform is unregulated, non-transparent, and blacklisted by the Belgian FSMA. Many traders had issues with PrimeNox, which is the main reason why we do not recommend this platform.

If you lost money to the PrimeNox scam, please book your free consultation with us and tell us more about your case. If you need professional assistance in recovering your funds, our team will gladly guide you through the chargeback process.

Book your consultation with us today and start the chargeback process.

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