de | cn | ru

Prime X Club Review - is it scam or safe?

Prime X Club review - Is primexclub.com scam or good forex broker?

RATING: 1 / 2 REVIEWS ForexBrokerz Prime X Club
Prime X Club is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


Prime X Club or PRC Financials, as it is referred to in the presentation, is a forex and CFD broker offering a wide range of trading instruments on a web based trading platform. Unfortunately we have some serious issues with the broker's legitimacy so, if you consider trading with them be sure to read this review first.

 

Account type Min. deposit Max. leverage Spreads
Standard Account $500 1:200 3.6 pips, floating

 

Prime X Club Advantages:

 

Wide variety of trading instruments

 

This is the only positive aspect we were able to identify about the broker. On their trading platform we found more than 50 forex pairs, including some exotic currencies like Mexican Peso, Polish Zloty, Russian Rubble, Chinese Yuan, Singapore Dollar, Turkish Lira, South African Rand, Honk Kong Dollar, Norwegian Krone, Swedish Krona, Danish Krone, Hungarian Forint and Israeli Shekel.

 

And there are also plenty of CFDs on commodities like sugar, wheat, cocoa, coffee, cotton, orange juice, soybean,  oil and natural gas, spot metals like platinum, palladium, gold and silver, 23 indices, stocks, bonds, ETFs and even crypto coins like Bitcoin Gold, Bitcoin, Bitcoin Cash, Cardano, Zcash, Ripple, Monero, Stellar, Qtum, Tron, NEO, Litecoin, IOTA, Ethereum, Ethereum Classic, EOS and Dash. And as crypto assets are getting more and more popular in the past months, here you may also check our list of brokers, offering Bitcoin CFDs:

 

>>Bitcoin Forex Brokers<<

 

Leverage of up to 200:1

 

Leverage as high as 200:1, as offered by Prime X Club, is perfectly enough to accommodate any trading style. And yet, you should remember that leverage is also associated with higher risk. Note that since the beginning of August the European Securities and Markets Authority (ESMA) restricted the maximum leverage allowed with forex transactions to 1:30, precisely to curb investment risks.

 

Prime X Club Disadvantages:

 

No license

 

Honestly, we are a bit confused as the presentation on the Prime X Club website is all about PRC Financials, which, we may assume, is another name of the same broker or just a mistake.

 

In any case, the broker is said to be owned and operated by ООО "СПЕЦИАЛЬНЫЕ КОМПЬЮТЕРНЫЕ СИСТЕМЫ", a company based in Russia. 

 

Unfortunately, the broker does not say anything about its regulatory status and as proper regulation is the single most important factor for the safety of any investment, this is a major setback.

 

Have in mind that with an unregulated broker the safety of your investment depends solely on the integrity of the people, operating the broker. 

 

On the other hand brokers, regulated by respectable financial watchdogs like the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC) or the Cyprus Securities and Exchange Commission (CySEC) have to follow strict financial and ethical rules, among which to keep all clients money in a segregated, protected from creditors account, to maintain a certain level of operational capital, to report regularly, allowing external audits and in certain cases even to insure traders money.

 

The trading capital with FCA and CySEC regulated brokers, for example, is guaranteed by compensation schemes. With FCA brokers, in case a broker is unable to pay, traders are entitled to a compensation of up to 50 000 GBP. 

 

Similarly, with all CySEC brokers the compensation is up to 20 000 EUR. Besides, here you may check our list of FCA regulated brokers:

 

>>FCA Regulated Forex Brokers<<

 

Uncompetitive spreads

 

When we opened a trading account with Prime X Club the benchmark EURUSD spread was as high as 3,6 pips and that is clearly unacceptable. Have in mind that spreads with a standard account should start  below 1,5 pis in order to be competitive. Besides, here you may check our list of brokers, offering tighter spreads as well:

 

>> Lowest spread forex brokers<<

 

Few payment methods

 

Prime X Club accepts payments only with credit cards like VISA and MasterCard and bank wire. There is no option to pay with popular e-wallets like Neteller and Skrill, nor with Bitcoins. So here you may also check our list of brokers, accepting payments with Bitcoins:

 

>>Forex Brokers Accepting Bitcoin<<

 

MetaTradcer4 not supported

 

Prime X Club says they support MetaTradcer4, but that turned out not to be true. The broker offers just a web based trading platform that lacks many features, standard with MetaTradcer4 - a classic trading solution, preferred by professional and beginner traders alike. 

 

 

For example, with the Prime X Club web based trading platform you do not have the option to run automated trading sessions or to modify your market indicators. Here you may check our list of brokers, supporting the MetaTrader4:

 

>>MT4 Brokers<<

 

No information about the minimum deposit requirement 

 

Unfortunately, there is no information about the minimum deposit requirement on the broker's website. 

Keep in mind that with most brokers you can open a trading account with about 250 USD, while with some big well established players like the FBS and IG you can star trading with just 5 USD or even less.

 

Conclusion:

 

As we already discussed, our main issue with Prime X Club is their regulatory status. The broker does not have a license to provide financial services and that is a major setback. Remember that your investment is secure only with properly regulated brokers.

Latest news about Prime X Club
No news about Prime X Club. Check back later.
Forex
Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
UK FCA MT4, Web,
ForexTrader,
Tradable
$50 Review Website
Australia, Cyprus ASIC, CySEC MT4, MT5, Iress $100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website

Traders` reviews for Prime X Club

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

Обман Воры Мошенники

Гей еси Русы - до коли будем позволять обманывать себя этой Американской Биржевой Торговой системе они уже развели не только каждого в Америке но добрались до всего мира нас с Вами обманывают а Вы надеетесь честно заработанные деньги приумножить таким афферистам как Prime X Club и подобных им компаниям которых в интернете огромное колличество должны быть заблокированы и наказаны согласно закону о обмане Статья 159 УК РФ - мошенничество, хищение чужого имущества путем обмана или злоупотребления доверием, в крупном и особо крупном размерах. Комментарии Федерального Судьи но Вы самые главные судьи не позволяйте себя обмануть зарабатывайти своим Бизнесом и своими талантом и профессиональным умением Я Рус надеюсь на Ваше благоразумие


Translated by Google:

Gay eu Rusa - if we let this American Exchange Trading System fool themselves, they have not just bred everyone in America but got to the whole world deceiving us and you are hoping to earn honestly earned money like Prime X Club and similar companies On the Internet, an enormous amount must be blocked and punished according to the law on deception. Article 159 of the Criminal Code of the Russian Federation - fraud, theft of another's property by deception or abuse of trust, on a large and very large scale. Comments of the Federal Judge, but you are the most important judges do not allow yourself to be deceived by earning your Business and your talent and professional skill. I Rus hope for your prudence

Evlary 06/06/2019

Prime X Club Лохотрон

Не верьте ,они просто разводят людей и ни каких заработков нет,фиктивный счет покажут и типа торговлю ,потом просто блокируют вас и все на сайт уже не зайдешь.Ни денег ,ни заработка

Translated by Google:

Do not believe, they just breed people and there are no earnings, a fictitious account will be shown and the type of trade, then they just block you and you will not enter everything on the site. No money, no earnings

Елена 12/20/2018
de | cn | ru