Prive Finance Review – A Predator Lying In Wait

How utterly unimpressive of Prive Finance to represent another fully anonymous financial services provider and securities dealer. Naturally, the swindler did make an effort to organize a website that would have an appearance of authenticity. 

However, the prospect was a failure, as it became obvious after a glance that we’re dealing with a fraud. The probably fake UK address only helped us arrive at a conclusion we’ve feared – Prive Finance is totally unregulated. 

Besides the apparent lack of any authorization, Prive Finance could be lacking a trading platform as well. Because they do not allow you to move a finger there until you deposit. As their name suggests, Prive Finance has some things to hide and secrets to keep. We bring you this Prive Finance review as our attempt to expose this criminal.

Is Prive Finance a Scam Trading Company?

Before drawing conclusions, we like to be thorough and completely sure of something. Prive Finance gives a physical address in the UK, where their office is supposedly located. That only means one thing for their regulatory status – FCA would have had to authorize them first. 

Luckily for us and all the traders out there, FCA (Financial Conduct Authority) keeps a regularly updated database of brokers they’ve licensed. Just a simple search through it proved us that no company under the name of Prive Finance exists in their register. 

Our research didn’t end there. We went to comb through other registers for a Tier 1 license that Prive Finance needs. But, to no one’s surprise, it turned out that Prive Finance isn’t known to any leading regulatory institutions. 

By this we mean BaFin, CySEC, ASIC, CONSOB and CNMV. This discovery further solidifies our doubts about this faux broker performing bank transfers and financial services without any certificate or permission. 

The reasons we insist so much on a broker having Tier 1 license are many. Firstly, it ensures the company is led by a competitive team that has ensured its financial stability. Secondly, it means the broker provides the most secure trading environment circumstances you need as a trader. 

This includes segregated bank accounts for separate keeping of deposits, leverage limit to 1:30 and negative balance protection. Moreover, you can expect a reimbursement if your broker fails to pay you as the financial ombudsman protects you.

In the EEA, an independent regulatory body – ESMA has assembled a strong regulatory framework acting through MiFID. It organizes the securities markets in a way that it prevents money laundering and financing terrorism. 

Under such conditions, it’s safe to trade, knowing you have a fair chance to succeed. This isn’t the case with Prive Finance. They’re unregulated and therefore unsafe for investing. 

Traders’ Opinion About Prive Finance 

There’s only a couple reviews about Prive Finance on TrustPilot currently. So we can’t generalize anything based on 12 reviews. Nonetheless, we have to express our concern with the statistics. About half of the reviews left a negative rating and the other half extremely positive. This inevitably evokes suspicion about positive reviews being fake. 

Since the reviews are mostly in Polish and German, it also implies the groups targeted by Prive Finance. These aren’t in English, but they do mention withdrawal problems, high fees and other problems ordinarily happening with scam brokers.  

Where Does the Broker Operate? – Countries of Service

It’s quite terrifying how Prive Finance managed to reach an astonishing number of traders in a period of about six months. That’s how long the website has existed. It only points out the dreadful fact explaining their capability to delude and defraud victims. here is a list of several countries where most of their victims reside:

• Germany
• Poland
• Ukraine 

How Does the Prive Finance Scam work?

First and foremost, a faux broker like this one has to place an offer you can’t refuse. It usually consists of fake promises of fast wealth and overnight recognition, but it only leads to your ultimate financial demise. 

These scam agents don’t just aim to get away with your initial deposit. They will continually extort money through fees and charges until your bank account and credit cards are drained. And they will use any technique to lead you into the trap, including fake advertising and sparking romantic interest in you. 

With time and as they run out of delusions and false hopes to feed you, you will start to realize something is not right. By that moment the scam is already set in motion and your funds are irreversibly lost. So watch out for the crucial warning signs, like malicious bonus clauses, sudden fees and overly attractive conditions at a glance. 

Prive Finance Trading Platform

How do you feel about buying a product you don’t know anything about? Kudos to Prive Finance for a good advertisement of their trading platform. But they need more than a couple of well-arranged attributes in a sentence to sell a fake service or product. 

After registering for an account, you can surely access the client panel. Unfortunately, anything you do there is fruitless because you’re first required to deposit real cash. Only by doing that can you buy entrance to the trading area. 

Otherwise the platform is completely out of reach. DIFC Investment world leads you into a similar trap, so reading our review on this unscrupulous firm too is in your best interest.

If you’re any familiar with regulated brokers worldwide, you’d know you can expect them to offer you platform exploring without an account. The legal obligations pertaining to transparency bind them to be honest about the platform they offer. This isn’t the case with Prive Finance. 

Can I Use a Demo Account?

You can already guess the answer about the Demo account from how we described the trading platform accessibility. Opening an account is only one step of the way. Everything from that point on depends on your will to throw real cash down the drain. Or better just burn it all, because giving it to Prive Finance won’t result in anything better. 

The website pressures you into depositing at least $100 to a USDT wallet before they allow you to even navigate through the user area. If you’re familiar with Premier Options, you know both of the schemes are money-eating, insatiable scam deals.

Is It Possible to Withdraw Profit From My Prive Finance Account?

Prive Finance withdrawal is processed through the client area where you have to send in a request. All the transfers are performed through the crypto wallet, which means the broker keeps you away from finding out who they really are. By preserving their anonymity, they also remain safe from the hand of justice and the legal prosecution. 

On top of that, the con artist expects you to reveal all your personal info by sending in the verification docs. Colorized photos of your ID, passport and credit cards are all a part of that. Because they find it fair to remain incognito while learning everything about you down to your shoe size. Hypocritical, don’t you think?!

Withdrawing funds at Prive Finance is additionally made hard despite already almost impossible conditions. The broker will at some point start charging you fees to extort all the money they can while they still have a chance. It also gives them a reason to reject all your withdrawal requests. What a devious way to profit while harming others gravely.  

What Should I Do If I Have Been Scammed by Prive Finance?

Despite our best effort to reach as much of our audience as we can, scams still happen. There’s a swarm of scammers lurking the Forex world and social networks. It makes it next to impossible not to encounter them at some point during your trading experience. 

Scams are, sadly, a common occurrence. As soul-crushing as it may feel at the moment of realization, please remain calm and try to follow the necessary steps to contact us. 

Through a free consultation, we can point you to your next step and help you plan the whole strategy to restore what’s been groundlessly taken from you. So have no fear and do not let lazy fraudsters profit off your misfortune. Contact us and let’s talk!