PrimeBanque Review – Stop Trusting Unregulated Brokers For Good

As can be seen, this brokerage is registered in Saint Kitts and Nevis as RRT Line Group LLC. This trading group has been there since January 2024, and that’s a sign to rethink your choice of depositing with them.

However, we know these firms usually use lucrative ads to make traders join them. But to see what else you can expect from them, check out this PrimeBanque review carefully.

Legal info: Is PrimeBanque Legit or a Scam?

Usually, the first sign of a trading scam is missing trading licenses. When a company operates from any offshore country, it should primarily obtain licenses in countries where it offers services. Sadly, with this firm, zero license details are provided, and most likely, the company doesn’t have any.

To be sure, we checked the FCA, ASIC, CFTC, SEC, BaFin, and CySEC registers, which traders trust the most. Sadly, none of these databases hold records of PrimeBanque being regulated.

Who are PrimeBanque’s Victims?

In the absence of PrimeBanque reviews, we have to check the company’s traffic analytics and find out who their customers are. It’s not surprising since their domain was registered in January 2024. Anyway, it appears they are mainly targeting traders from: 

• United Kingdom
• Netherlands
• Austria
• Belgium
• Switzerland

To be fair, all top-tier regulated countries, and it’s just a matter of time before they end up on a warning list. If you want to stay clear from swindlers, read our FCTrading review as well. Also, contact us directly for advice on refunds if needed.

Leverage, Commissions, Spreads, Fees and Taxes

Even though the PrimeBanque broker mentions spreads, fees, and commissions, none of those are fully transparent. Of course, the more money you deposit, the better discounts on fees you can get. 

Nevertheless, the main problem with the company is its leverage of up to 1:1000. Yet, all countries they are targeting allow a maximum of 1:30 for retail traders to be offered.

Bonuses

Bonus funds are a good trick for any unregulated firm to prevent traders from withdrawing any funds. Bonus clauses contain shady requirements, and that’s the key problem. Unfortunately, the PrimeBanque account types don’t reveal if there are any bonus offers available.

PrimeBanque Trading Features

One of the interesting features of this company is dividends. Apparently, these range between €1.000 and 15.000€ depending on the account type. Regarding trading, the company advertises comprehensive analysis tools, but with their platform, we highly doubt those are available.

Trading Platforms Available

At some point, the company mentions they offer MT4 WebTrader. However, once you get into the platform, you realize that’s a lie. 

Instead, traders are offered a proprietary web-trader with charting options imported from TradingView. Trading features available are only mandatory ones, without anything more. Certainly, there’s nothing advanced and sophisticated about this platform.

Available Trading Assets

If you still choose to trade with this firm, the list of tradeable assets will definitely satisfy you. There are all five main categories available and a lot of options, such as: 

• Forex – USD/AUD, EUR/SEK
• CFDs – natural gas, Boeing, CAC40
• Cryptos – ETH, ADA, DOT

Account Types

The key features traders get if they deposit more money are reduced swap fees, higher dividends, managed account sessions, and higher leverage. Even though it seems you need a lot of money to get started, these brokers often accept anything above €250 to sign up. 

Anyway, all options are: 

• Standard – €10.000
• Advanced – €25.000
• Platinum – €100.000
• Expert – €250.000
• VIP – €500.000
• Professional – €2M

Mobile Trading App

A trick the company uses to present the PrimeBanque app is to advertise it as download-free. But that means you have to access it via a browser, and that’s not a good sign. 

If you read our Lux Trading Firm review, you will find out why trusted apps make a big difference.

Demo Account

Generally, the company doesn’t offer advanced features requiring traders to use demo accounts. Still, with hidden costs, it might be necessary. Sadly, it’s not available.

Education

Often seen with unregulated brokers is also a lack of educational programs. The whole education with them usually relies on sessions with their so-called specialists. But keep in mind those are not licensed staff members who can truly help you learn anything.

PrimeBanque Withdrawal

Another detail traders have to worry about is the PrimeBanque withdrawal process. The company doesn’t reveal any details about methods, processing time, or withdrawal fees. Consequently, they have prepared the field to make excuses for not approving withdrawals.

That’s why top-tier licenses are highly important in trading. In any case, if you get a request to pay upfront fees for a withdrawal, be smart and ignore it.

Customer Support

Interesting details can be seen in the company’s phone details. They presented us with a UK phone number, which clearly shows they use VOIP services. After all, they don’t have an office in the UK. 

Besides, traders may try reaching them via e-mail. The usual response should be 24/5.

Key Information To Consider About PrimeBanque

To summarize, there’s nothing traders should believe in this trading firm. In the first place, it is because they are not licensed. On top of that, they are a freshly registered broker with highly suspicious and non-transparent conditions. All those are signs to keep your money away from them.

However, if you fall for some of their tricks, it’s not the end of the world. Simply reach out to our refund consultants and find out how to get your money back. Don’t worry, the first meeting is free. Book it now.

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