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Bprimes Review - is it scam or safe?

Bprimes review - Is bprimes.com scam or good forex broker?

RATING: 1 / 3 REVIEWS ForexBrokerz Bprimes
Bprimes is an offshore broker. Your money is not safe.

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Bprimes is a website offering forex and CFD trade, which is not only unregulated, but is basically anonymous. So if you are considering opening an account with them be sure to check this review first.

 

Account type Min. deposit Max. leverage Spreads
Micro Account $5 1:1000 1 pip
Standard Account $500 1:400 n/a
Premium Account $500 1:400 1 pip
VIP Account $20 000 1:300 0,9 pips
 

 

Bprimes Advantages:

 

Leverage as high as 1:1000

 

If there is one sure advantage about Bprimes it is the spectacular leverage – up to 1:1000, which rarely seen on the market after the European Securities and Markets Authority (ESMA) caped the maximum leverage on the European market at 1:30, following similar steps by the regulators in the US and Japan. 

 

In practice that leaves Australia the only regulatory hub that still allows trade with unrestricted leverage. If you are interested into higher risk leverage trading here you may check our list of brokers, regulated in Australia: 

 

>>Brokers regulated in Australia<<

 

Acceptable minimum deposit requirement

 

Bprimes says that you can open a Micro account with just 5 USD and that sounds great. Still, have in mind that some big well established brokers like FBS and IG also do not have a minimum deposit requirement.

 

MetaTrader4 supported

 

And that is another good news. The platform is well known to most traders. It has intuitive interface and features lots of market indicators, advanced charting tools and even customizable trading robots, with which one can run automated trading sessions. Besides, here you may also check our list of brokers supporting MetaTrader4:

 

 >>MT4 Brokers<<

 

Bprimes Disadvantages:

 

Not regulated, anonymous website

 

That is our main issue with Bprimes. The website is said to be run by Fina Holding LTD with a contact address in the Marshall Islands - Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960 – which is basically a post box, used by many other scam brokers that register their companies offshore as a cover up.

 

No need to mention that Bprimes is not regulated and in practice does not have legal right to offer financial services on strictly regulated markets like the EU, the USA, Japan, UK or Australia.

 

Our best advise in such cases is to deal only with properly regulated brokers, for example licensed by the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC) or the Cyprus Securities and Exchange Commission (CySEC), which are completely accountable and follow strict rules, including to offer their clients a negative balance protection, to keep their funds in a segregated, trust account, to maintain a certain minimum operational capital (730 000 EUR with all EU regulated brokers), to allow external audits, to file regular reports and sometimes even to insure traders funds. 

 

For example a clients compensation fund, backed by FCA, guarantees up to 50 000 GBP of your trading account, while with EU regulators like the CySEC the insurance goes up to 20 000 EUR. Besides, here you may check our list of FCA regulated brokers:

 

>>FCA Regulated Forex Brokers<<

 

No demo account available

 

We were not able to open a demo account with Bprimes to verify the trading conditions, and to check their trading instruments, advertised to include over 55 currency pairs and lots of CFDs on indices, stocks, commodities, bonds, ETFs, precious metals and energies. In any case here you may check our list of brokers, offering tighter spreads:

 

>> Lowest spread forex brokers<<

 

Unusual withdraw conditions

 

Bprimes offers trading bonuses, which are connected to some special withdraw conditions. For example you should  trade the amount you have received as a bonus at least 25 times before you will be able to withdraw. 

 

On top of that Bprimes says they reserve the right to change those condition at any time and at their sole discretion, and if for any reason they decide to investigate your account, your withdraw options will be even further restricted. See for yourself:

 

 

Skrill not accepted as payment method

 

Although Bprimes accepts payments with credit cards like VISA and MasterCard, bank wire and some e-wallets or money transfer services like WesternUnion, MoneyGram and Neteller, they do not accept payments with Skrill and that is worth noting as recently Skrill adopted a new anti scam policy, according which only licensed brokers are allowed to use its services. As we noted  Bprimes is not a licensed broker.

 

Conclusion:

 

Bprimes is an anonymous website that claims to be a forex broker, but lacks credibility whatsoever. Have in mind that depositing money with anonymous websites is a recipe to get scammed. And here we will repeat our usual advice – deal only with properly regulated brokers.

Latest news about Bprimes
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Traders` reviews for Bprimes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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estafado por Bprimes

ESTOY TOTALMENTE DE ACUERDO CON LA PUBLICacion esta supuesta empresa de broker es una estafa.
No aconsejo que inviertan ni un euro.

Translated by Google:

scammed by Bprimes
I AM FULLY AGREE WITH THE PUBLICATION this supposed broker company is a scam.
I do not advise you to invest even one euro.

Francisco 05/11/2019

mr

Sono dei truffatori
It's a scam

pietro 03/13/2019
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