Prime Quotes Review – Can You Recognize All Warning Signs?

One of the first things traders can recognize here is that the company doesn’t have a registration form. This tells you they are getting new clients in other ways. In most cases, those are suspicious marketing campaigns on social networks.

However, the main resource is the referral program, where the company would present us with good results to gain our trust. Luckily, this Prime Quotes review reveals all the tricks this brokerage is using.

Legal info: Is Prime Quotes Legit or a Scam?

If the company was operating legitimately, it would be much more transparent in the first place, starting with its legal name, founders, contact details, and addresses. Believe it or not, none of these details are publicly available. With this in mind, nobody can expect them to be regulated. Indeed, they are not, especially not by trusted regulators like FCA, ASIC, CFTC, or BaFin.

Consequently, we can forget about the fund security with this firm. Features like negative balance protection, segregated bank accounts, and compensation schemes should be looked for elsewhere.

Who are Prime Quotes’s Victims?

With registration in 2023, some might think the company had enough time to build its reputation. Yet, with zero Prime Quotes reviews available, it doesn’t seem so. Therefore, to determine their goal, we have to inspect their website.

The results were shocking even for us. This company is targeting some top-notch regulated countries, such as:

• United States
• United Kingdom
• Canada
• Australia

However, without any authorization from their regulatory agencies. That’s why we recommend you withdraw your funds immediately or contact us for refund options if you have trouble with the Prime Quotes broker or Tradematics trading firm.

Leverage, Commissions, Spreads, Fees and Taxes

Even though the Prime Quotes trading firm has transparent costs, that doesn’t mean that’s what you get. But if we trust those, traders can expect leverage of up to 1:400, which is way above the regulated maximum.

In addition to that, trading on basic accounts offers starting spreads from 1.3 pips and no commissions. However, some other accounts include lower spreads, but also higher commissions of $7 per lot.

Bonuses

Currently, this broker doesn’t offer any bonus deals. At least not transparently to the public. However, if you sign up with them and get a bonus offer, be careful. Such offers often contain malicious clauses that can easily prevent you from withdrawing your money.

Prime Quotes Trading Features

With all the Prime Quotes platforms available, traders can enjoy their trading experience to the maximum. This is primarily because of all the advanced options available. These include automated APIs, advanced analytical tools, Expert Advisors, and many more.

Trading Platforms Available

One positive aspect of this company is that platform access is available even before completing the Prime Quotes login procedure, whatever platform you opt for. Sadly, they advertise MT4, but trying to access it shows that the platform is not supported, and you have to contact the broker.

Available Trading Assets

Whatever broker you choose nowadays, you will have similar investment options. With slight differences, of course. 

However, what makes those instruments more attractive is transparency and security. That’s why it’s not the same when you see the same assets with regulated and unregulated brokers. Anyway, once you access the Prime Quotes app, you can trade: 

• Forex – EUR/SEK, AUD/NZD
• Commodities – natural gas, copper
• Shares – Walt Disney, VISA
• Indices – S&P500, NASDAQ
• Cryptos – ETH, XRP

Account Types

Important to realize is that Prime Quotes account types don’t reveal much information related to trading. The leverage for all accounts is the same, and the only difference comes from spreads and commissions. Allegedly, the minimum requirement is $0 for some accounts. 

Anyway, all options are: 

• Standard – $0
• ECN – $0
• VIP – $5.000

Mobile Trading App

Indeed, the company offers mobile apps for MT4 and cTrader. However, the company’s cTrader download rate on PlayStore tells you how many traders are using it. With only a bit over 100 downloads, they can’t be compared to some top-notch trading firms. To learn how to recognize them, read our FXCess review.

Demo Account

A demo account is a standard part of what MetaTrader and cTrader offer. Therefore, you might opt for these options as well. Thus, without all the conditions revealed, you might do that with a more transparent broker.

Education

One huge disadvantage we discovered is a lack of educational programs. Yes, you might get assistance from their market specialists. Or “so-called” ones. Still, those agents are not licensed anywhere to provide advisory services. Therefore, you can only get scammed there.

Prime Quotes Withdrawal

If you still decide to trade here, get ready for Prime Quotes withdrawal problems. In the first place, the company doesn’t reveal any money transfer options, fees, or withdrawal policies. 

Consequently, they can make up any excuse to decline your withdrawal requests. But also, keep in mind that it’s completely irrelevant if the company is not licensed.

Customer Support

In case you are looking for a way to reach out to this company, that will be a hard task. But most likely, this firm has been offering some encrypted contact options like Telegram to their existing users. Definitely not something that would make traders think they are reliable and trusted.

Key Information To Consider About Prime Quotes

With all the warning signs presented, it’s quite clear how trading with the Prime Quotes scam broker ends. It’s just a matter of time before financial regulators start publishing their warnings. Before that happens, we recommend you withdraw all your funds as soon as possible.

In case any problem occurs, you can reach out to our refund experts for advice. After all, our first consultation is free and you can get all the information about the refund you need. Get in touch today!

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