The company we are reviewing today might appear reliable at first glance. They reveal their company address in London, UK. However, that address is widely known as the one scammers often use.
But we won’t be jumping to conclusions without proof. Therefore, this analysis brings you all the necessary details to find out if you can trust this investment firm or not. Read this PremiumFunds review carefully.
| Regulated By: | No Regulations |
| Is This Company Safe? | No |
| Known Websites: | https://premiumfunds.com/; |
| Have Warnings From: | FMA Austria, Finanstilsynet, IOSCO, Finansinspektionen, CNMV |
| Registered In: | UK (allegedly) |
| Operating Since: | 2023 |
| Trading Platforms: | WebTrader |
| Maximum Leverage: | N/A |
| Minimum Deposit: | N/A |
| Deposit Bonus: | Available up to 100% |
| Trading Assets: | Cryptos, forex, indices, shares, commodities |
| Free Demo Account: | Not Available |
| How To Withdraw From This Company? | Since the company was found on numerous warning lists, withdrawals are most likely impossible. At least not in a regular way. But there’s always an alternative like chargeback or some similar refund method. For detailed guidance through the procedure, feel free to contact our refund specialists. |
Legal Info: Is PremiumFunds Legit Or Scam?
The best way to find out if the company is trusted or not is to check their licenses. As can be seen, there are two domains this broker is using. Yet, none of those is found in the FCA-regulated entities database. With some hope left, we were checking other tier 1 regulators like ASIC, BaFin, CNVM, and a few others. Yet, the results were just more and more disappointing.
Firstly, the company is not regulated anywhere. Secondly, the company is blacklisted by numerous regulators. Those are FMA Austria, Finanstilsynet, Finansinspektionen, IOSCO and CNMV. Quite a long list for a broker registered in 2023.
Who Are PremiumFunds’s Victims?
If you think at any point that you are safe because you are coming from a strictly regulated country, don’t fool yourself. Swindlers like PremiumFunds brokerage don’t care about anything but money.
As can be seen, since 2023, when they first started, they have been mainly targeting:
- Switzerland
- Austria
- Liechtenstein
But we encourage you to leave your opinion in the comments regardless of your country of residence. Also, feel free to contact us at any time for a refund consultation. Not only if this broker scammed you, but also by CrytFex.
Traders Reviews – What Do Others Think?
If multiple warnings are not enough to keep you away from this firm, at least PremiumFunds reviews should be. In fact, only on Trustpilot we found 35 comments, and almost 80% of those contained complaints. Nothing will be a better sign than this.
As can be seen, on the PremiumFunds trading platform, traders reported numerous irregularities, starting with trading conditions, unexpected trading software bugs, withdrawal issues, and much more. If you are one of those as well, feel free to contact us and get advice about the refund procedure.
Leverage, Commissions, Spreads, Fees and Taxes
One of the key scamming signs about PremiumFunds Forex broker is a lack of transparency, primarily about trading conditions. In fact, none of the relevant ones are revealed, such as leverage, fees, commissions, swaps or spreads.
But to avoid that, you better look for a top-tier licensed firm and avoid surprises. Also, don’t miss out on our detailed ICBroker review.
Bonuses
Understanding the company’s plans is very simple. They design everything to go in their favor. That’s why many details are hidden. Otherwise, they wouldn’t be able to manipulate it. Or would they, since they are not regulated?
Anyway, another thing to watch out for with PremiumFunds broker is the welcome bonus because there’s a clause requiring you to reach one lot for every $1 of the bonus.
PremiumFunds Trading Features
As can be seen, the company doesn’t have anything to brag about since its platform is web-based. Apparently, there are many benefits to traders.
However, those details advertised as benefits are the standard package of any top-notch software, such as cTrader or MetaTrader.
Trading Platforms Available
As mentioned, the company’s platform can only be used via a browser. In general, that’s not the most convenient method for a trader, especially if there are no advanced features like copy and social trading, algo-trading, or EAs available.
Available Trading Assets
Honestly, tradeable instruments should be your last concern with this broker. Any company without a license is not something you should look into. But if they were legit, the offer would be good. Starting with:
- Forex – USD/AUD, EUR/HKD
- Indices – NASDAQ, S&P500
- Shares – Amazon, Airbus
- Commodities – silver, platinum
- Cryptos – XRM, DOGE
Account Types
Important to realize is that this firm is not even revealing the minimum deposit requirements. That tells you they will pitch you on the highest amount possible. In any case, you have options that don’t differ much in terms of benefits: Bronze, Silver, Gold, Premium, and Platinum as standard offers and also VIP and VIP+ as professional offers.
Mobile Trading App
If you are looking for trusted mobile apps, take a look at MT4 or MT5. That’s a definition of it. But that also requires transparency from the broker and the ability to operate legitimately.
Since that’s not the case with PremiumFunds broker, we are not surprised they don’t have any mobile apps developed.
Demo Account
In addition to missing trusted software, there is also a demo account offer missing. But that’s not surprising either. Simply because if they offered it, they would expose all their flaws.
Education
Generally speaking, with missing PremiumFunds regulation, educational programs are quite irrelevant. All this broker can teach you is how to throw money away. That’s why they offer guided trading sessions, basic market education, and personal account managers.
PremiumFunds Withdrawal
Withdrawal procedure with PremiumFunds scam broker can take up to 8 business days in total if everything is right with your account. Very often, traders face issues along the way. Some of those might be that your account is not verified properly, some documentation is missing, or even that you must pay some non-existent taxes. All these are tricks to extend the withdrawal procedure.
Not to mention that withdrawal fees are not disclosed. But at least you can see minimum withdrawal requirements starting at $100 for base currencies (USD, EUR, GBP) and 0.1 ETH, 1.5 LTC, 0.3 DASH, and 0.026 BTC for cryptos.
Customer Support
As can be seen, the company advertises 7-star customer service. Yet, the only contact option is the e-mail. That’s not something that would define a 7-star support.
Also, they are only available during weekdays. And most probably never if you want to withdraw the funds.
Key Information To Consider About PremiumFunds
As can be seen, there are numerous irregularities with this broker. But the main ones are missing regulations, lies about being registered in the UK, and multiple warnings.
All in all, not the best place to put your money in. But if you did for some reason, you can contact us for a refund consultation. Most importantly, the first meeting is free of charge and holds no obligations. Get in touch today and book yours!
FAQ Section
What is PremiumFunds?
PremiumFunds is a broker most likely registered offshore that presents itself fakely as UK-based.
Is PremiumFunds a Legit Broker?
PremiumFunds brokerage is far from legitimate. Primarily because of missing regulations. On top of that, there are many warnings issued against this investment firm.
How to Get Money Back From a Scam Broker?
Getting money back is often tricky. Several things are affecting that possibility. But to find out what are your options, feel free to talk to our refund specialists.
Source:
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