Breitling Prime Review: The Broker’s Website Is Currently Down

Yes, the website is down as we are writing our Breitling Prime Review. Odd, considering that it was created relatively recently, i.e. in late March this year. Nevertheless, we still managed to gather sufficient evidence of fraud that we will present against Breitling Prime.

This broker is not as “clean” and legit as it claims to be, which is why you must read our review to learn how these cyber scams work. In case you have fallen victim to unscrupulous online schemes such as Breitling Prime or EuroPrime, we can help you recover your funds. 

Legal Info: Is the BreitlingPrime Legit?

Breitling Prime’s legal background is pretty confusing and misleading. The broker uses this chaos to fool potential users into believing that the business is licensed and regulated when, in reality, it is not. Allow us to explain.

Breitling Prime LTD is based in London, UK (gov.uk). However, this branch is not regulated because the entity is missing from the register of the UK’s Financial Conduct Authority (FCA), the local regulator. Moving on, there is also a certain Breitling Prime PTY LTD registered in Australia (asic.gov.au) with the Australian Securities and Investments Commission (ASIC).

As ASIC unambiguously states on the website, “Anyone who sells you a financial or investment product or gives you financial advice must have an Australian financial services (AFS) licence.” If you check the ASF register, you won’t find Breitling Prime, meaning the broker doesn’t possess this license.

Last but not least, we have to discuss Breitling Prime’s Money Service Business (MSB) registration with the US Financial Crimes Enforcement Network (FinCEN). Firstly, FinCEN is not among the main financial markets regulators in the US. 

The institution itself sort of diminished the credibility of the MSB license by saying that the “inclusion of a business on the MSB Registrant Search Web page is not a recommendation, certification of legitimacy, or endorsement of the business by any government agency.” It’s an anti-money laundering mechanism but not a real trading license.

If you want to check whether a company is a properly registered financial services provider in the US, you have to look it up in the database of the National Futures Association (NFA). Unsurprisingly, Breitling Prime is not an NFA member (nfa.futures.org).  

To sum everything up, Breitling Prime is not a regulated brokerage company. This means that the platform is unlicensed to offer services but still does so regardless. Trading on such platforms can be dangerous.

In order to avoid potential issues, we recommend you avoid investing in uncertain brokers such as Breitling Prime or RightFX and instead opt for providers that legally operate under the watchful eyes of Tier 1 regulators such as the FCA (UK), CFTC & NFA (US), ASIC (Australia), IIROC (Canada), MAS (Singapore), etc. 

Who Are Breitling Prime’s Targets?

According to godaddy.com/whois, the Breitlingprime.com website domain was created on March 29, 2023, a few days before the company got registered with ASIC and FinCEN. Since then, the financial swindler has been offering illicit services mainly to traders in the following countries:

• United States;
• Canada;
• China;
• Japan;
• Cambodia.

It seems that Breitling Prime is primarily been targeting large North American and Asian markets. We’ve already disproved Breitling Prime’s claims of being licensed under a reputable regulator. All these jurisdictions on the list feature different regulations, which must not be neglected. 

For instance, the legal leverage cap for retail clients is 1:50 in North America whereas unregulated brokers such as Breitling Prime allow up to 1:1000.

If you’re experiencing issues with Breitling Prime, we are willing to help you recover your funds.

Trader Reviews – Sharing Experiences

We managed to find several complaints against this broker on wikifx.com. The reviews we found can also be perceived as evidence against Breitling Prime. Japanese traders were the victims here. Each of them provided proof that their withdrawal requests were not fulfilled.

Breitling prime was a scam. I was told that I could withdraw as soon as the settlement of accounts at the end of June, but I was told that I could not withdraw unless I paid 20% of operating fee. I asked for money to be deducted from my profit, but I was told that it was not possible.

– WikiFX user, July 3, 2023.

They claim to be a hotshot forex broker, but man, their lack of transparency is a major buzzkill. They don’t even mention the minimum deposit or provide info on deposit and withdrawal methods. And seriously, who doesn’t have a demo account these days?

– WikiFX user, June 25, 2023.

Breitling Prime Fx Trading Conditions

When it comes to the Breitling Prime Leverage, the broker offers a considerably high leverage cap of 1:1000. The concept of leverage represents borrowing money from the broker to increase the trading position size, allowing the trader to maintain a larger position with a smaller amount of capital. 

The higher the leverage, the higher the potential profits but also the potential losses. High leverage often tilts toward the losing end, hence the lower but safer regulatory caps in Europe (1:30) and North America (1:50).

As for the Breitling Prime Spread for Forex trading, the broker did not disclose any specific numbers regarding the buy/sell difference. The Breitling Prime Commission charged per trading lot is also a mystery. 

Breitling Prime Account Types

Breitling Prime offers a single live account type. It’s the so-called Standard account, available for both retail and professional clients. The specifications and properties of this account are unknown. All we were able to find out is that the leverage can be set as high as 1:1000.

On the other hand, Breitling Prime does not offer a risk-free demo account on the website. It means that you cannot try out the platform for a free trial period. You instead have to invest real money right off the bat and risk getting scammed. Legit brokers always offer a demo account.

Breitling Prime Trading Platform

Breitling Prime offers two trading platforms for traders to access and execute their trades:

• Desktop Trader – Designed for traders who prefer to trade on their computers. It provides access to over 250 trading instruments, expert advisors for automated trading, and fast trade execution, according to Breitling Prime.
• Mobile Trader: The Breitling Prime App enables mobile trading on iOS and Android devices. This platform is ideal for traders who want to monitor and manage their trades on the go. The mobile trader offers real-time pricing and execution, the ability to open and close positions, place orders, view trading history, etc.

Unfortunately, we couldn’t verify the legitimacy and effectiveness of these platforms since the broker’s website was unavailable. But the big disadvantage is that Breitling Prime doesn’t support proper software such as MT4 or MT5.

Having withdrawal issues with Breitling Prime? We can help you recover your funds.

Breitling Prime Trading Assets

Here’s a quick overview of the trading assets that the Breitling Prime platform offers:

• Forex currency pairs;
• Indices;
• Commodities; 
• Stocks;
• Crypto.

Breitling Prime Price – Deposits and Withdrawals

Breitling Prime did not reveal any available payment methods. The minimum deposit requirement, as well as deposit and withdrawal fees, is a mystery too. In such cases, you should anticipate hidden fees. Since the broker is unlikely to respect the refund policy and fulfill any withdrawal request, 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, which can only work for transactions that are not yet complete.

Key Facts To Consider About Breitling Prime

Breitling Prime is an unregulated broker with offices in the UK, US, and Australia. The main targets of the Breitling Prime scam are traders from the US, Canada, Japan, China, and Cambodia.

The platform is unregulated, which is the main reason why we do not recommend it. Also, the lack of transparency is alarming. Trading conditions and fees are unknown so please avoid Breitling Prime. 

If you lost money to Breitling Prime, please book your free consultation with our team 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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