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Euro Prime Review - is it scam or safe?

Euro Prime Review - is europrime.com scam or good forex broker?

RATING: 1.2 / 2 REVIEWS Euro Prime
Euro Prime is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


Trading Accounts & Conditions 

 

Account type Minimum deposit  Maximum leverage Spread
Standard $250 1:400 from 2.5 pips
Silver $2000 1:400 from 2.0 pips
Gold $5000 1:400 from 1.5 pips
Platinum $10,000 1:400 from 1.0 pips
Islamic $20,000 1:400 from 1.0 pips

 

Euro Prime is an offshore broker offering trading in wide range of financial instruments on two trading platforms. As you can see from the table above, it also has various account types. Despite the seeming diversity this broker provides, we don’t recommend doing business with it. Read on to learn why.

 

Euro Prime Advantages

 

Trading on ACTIV8 & MT4

Euro Prime allows you to trade with Leverate’s ACTIV8, as well as with the popular MetaTrader4 (MT4) platform. Those are two solid trading platforms. The MT4 doesn’t need an introductionthis is the most widely used forex trading platform, which is highly praised by the community. This pice of trading software has great charting, numerous analysis tools and is especially popular for its automated trading strategies (Expert Advisors).

 

>> Want to trade with a better MT4 broker? <<

 

ACTIV8, on the other hand, is not as popular as the MT4, but seems nearly as good a platform. Created by the developer of Sirix, Leverate, ACTIV8 offers a fluid synchronization with both MetaQuotes’ platforms (MT4 and MT5). It also has nice charting, ‘Strategies’ category that provides an array of EA/bots, and incorporated external market analysis. The latter includes 3 categories: ‘Market Analysis’, ‘News’, and ‘Calendar’ displayed on the right side of the interface.

 

Many asset classes covered

The assets provided at Euro Prime are: currency pairs, CFDs on commodities, indices, many stocks and several cryptocurrencies (the latter including Bitcoin, Bitcoin Cash, Ethereum, Ripple, and Litecoin). Such a variety of financial instruments will satisfy most traders.

 

If you are keen on trading the cryptocurrency markets, we have drawn up a list of some brokers offering Bitcoin CFDs which are reliable and recommended. Euro Prime is not one of them.

 

 

>> Licensed Bitcoin brokers <<

 

Euro Prime Disadvantages

 

Offshore broker, no financial oversight

Let us first start with the most obvious red flag regarding this brokerage. Euro Prime is allegedly owned by Apsilon ltd., a company registered offshore, in Saint Vincent & the Grenadines (SVG). The company also provides phone numbers in Kuwait and South Africa.

 

Clients of offshore brokers have no guarantee for their accounts, nor they money, as no governmental agency is overseeing these companies. What is worse, large percentage of offshore brokers are running investment scams, so we generally advise investors to avoid them

 

High spreads

It seems that only the top clients who deposit at least $10k get good spreads with Euro Prime. Basic account holders, on the other hand, trade with spreads starting from 2.5 on EUR/USD, which is not a competitive pricing. Most brokers offer spreads of 1.0 – 1.5 pips for this pair, and some go even lower. Besides, many of those companies are regulated and require an initial investment of $100 or even less.

 

 

>>Real-time spread comparison<<

 

 

MT4 not available for download

It seems that one can get access to any of EuroPrime’s platforms only after they receive a phone call from the broker’s representatives. Most brokers offer free demo accounts and the MT4 can be downloaded directly from their websites by only providing an e-mail address.

 

Minimum deposit required is not that low

The minimum deposit for the most basic account of Euro Prime is $250, which is just about the industry average. However, having in mind the major security concerns outlined above, we would not recommend interested traders risk even such a sum with the brokerage. There are other top-notch brokerages who do not even have a minimum deposit. 

 

Conclusion

 

Euro Prime is an unregulated, offshore broker, which doesn't offer a square deal. Although it offers an array of financial instruments on two trading platforms, the spreads provided are only decent for the high-end clients and the initial deposit required is not exactly low.

 

We always reiterate on the importance of financial regulation. Brokers operating under the oversight of respectful governmental agencies such as UK’s Financial Conduct Authority (FCA) or Australia’s ASIC are much more reliable than offshore companies, most of which are scams. So why waste your time and money on unregulated brokers?

 

>> Trade with a FCA-regulated broker <<

 

 

Here are the key strong and weak points of this broker one more time:

 

Pros Cons
Two platforms available, MT4 included Offshore broker, no financial oversight
Solid choice of CFDs High spreads
  MT4 not available for download
  Minimum deposit not low

 

Latest news about Euro Prime
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Traders` reviews for Euro Prime

Spread

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Slippage

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Requotes

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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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Summary

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Euro Prime - I could not believe I had been scammed

They made me believe that my deposit was going to make me more money, the broker i was referred to seemed friendly at first. He showed interest in my country and our culture so i became comfortable with him.I began making money, about $20 a day for 3 days.He started calling me almost everyday. After that the broker called for more money and told me i would lose some if i dont add some more money because of some event coming .I told him i had no money.The next week came, i made no money on forex, i was always on the red-not making any profit.I then decided to withdraw-thats when i made a big mistake. The little i had thought i made over the three days got reduced drastically.The broker called and told me i would only get less than my initial investment and i was shocked because my capital drastically dropped soon after my withdrawal.As i wanted to seek clarity, he just dropped the phone on me-just like that.
He was rude, i could not believe i had been scammed.

Join at your own risk-they promise you the world but once you join they treat you like trash wanting more money and even telling you that they have investors that have invested millions of dollars and your investment is just a drop in the ocean.

Phumelele Maziya-Smith 09/20/2018

Appointed managers to train people are shrewd, use strong language

They lured me into believing $250 is enough to start trading, later they say its not enough I should deposit more $250 to start and I don't have it, meaning I can't trade, I can't be refunded, bonus of $175 is nowhere to be found. What do I do now, m broke and desperate, is there any recourse

Caroline 09/15/2018
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