PrimeGainFX Review: Beware of this Forex Platform

A platform using false CySEC and LFSA registration, PrimeGainFX is one forex investment you need to avoid. Both regulators have vehemently denied registering this bogus platform. Nevertheless, your investment is at risk if and when you decide to invest in Primegainfx.com. We hope that authorities will soon issue an official warning on the platform. With several complaints lodged against prime gain FX, there’s every reason to be cautious. Here’s the clear and detailed PRIMEGAINFX Review, which exposes this ruthless platform.

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A Brief Overview of PrimeGainFX

Once you land on their homepage, you get to notice how they manage to fool investors. With the naked eye, you can’t possibly see the red flags raised all over the website. But, thanks to years of investing and trading, we can spot these red flags from a mile away.

PrimeGainFX starts by claiming to be safe, transparent, and trustworthy. Of course, these are the qualities you are looking for in an investment platform. But, when it comes to their sales pitch, we have to give it to them.

That’s not all; they have come up with an engaging website that mimics a real forex investment platform. Even navigating through the website is easy, and all information can be found on the homepage.

On their about us page, they claim to dedicate themselves to advancing technology in investing. Their vision is to become an industry leader, with their goal being delivering superior services. All the boxes check as the platform boasts of being the best in the business.

One mistake they make is claiming to be licensed by CySEC and LFSA. A claim they don’t back up with facts.

Account types PrimeGainFX

There are four account types to choose from with this platform. They include Standard, Advanced, ECN, and Pro, and all share the same leverage and lot range. Only a few specs separate the accounts.

Let’s take a closer look at each account

PG-Standard account

It comes with a minimum deposit of $500 which is double the industry-accepted deposit of $250. There are no commissions with this account, and the spread is as low as 2.0 floating spreads. There are over 30 major forex pairs to trade with.

PG-Advanced account

Members have to deposit $1,550 to start trading with this platform. It comes with floating spreads as low as 1.5. There’s a margin call of 50 percent, and stop-out is set at 25 percent. Scalping and hedging are allowed on this account.

PG-ECN account

The minimum allowed deposit is $2,000, and the account comes with a commission of $6 per lot. It comes with floating spreads as low as 0.0, with overnight trade possible. The account also allows hedging and scalping.

PG-Pro account

There’s a deposit cap of $5,000 for those who want to use this account. It comes with a $4 commission per lot with floating spreads as low as 0.0. There are six crypto assets with four stocks to trade with. Hedging and scalping are allowed with no upfront fee required to start trading.

All these accounts share almost the same features except deposit amount and floating spreads. In addition, order execution in all accounts is the same with all trading tools available with each account.

Chat support services / Contact details

There’s a chat tab that claims agents are live. It didn’t take long for one to respond to our queries. The staff member by the name of Allen Smith was our assistant. On their contact page, they have several contact points.

We did see the platform offering support on various social media platforms such as Whatsapp. You can also reach out via Skype and phone numbers. Sadly, our phone numbers didn’t go through.

The platform offers a fast chat support system, one of the platform’s working pages. You should expect this from any investment platform, but most take time before responding.

Deposit and withdrawals

There are tons of ways to deposit funds with PrimeGainFX. These include Bank transfers, credit debit cards, and E-wallets. Depositing is instant unless you use Global Transfer, which takes 3-5 working days.

Before committing any funds, you should know the risks that come with this platform. There’s a high chance you won’t get to withdraw your earnings. That’s the reason this platform was on our radar.

Complaints have reached our help desk from members who couldn’t withdraw funds. This is despite having sufficient balances on their accounts. As far as withdrawing goes, there’s a big question mark on this platform.

Features of PrimeGainFX

PAMM/MAM account brokers

With their PAMM/MAM accounts, users get customizable trading conditions. These include EA support, flexible, customizable commission schemes, trade on micro-lots, and others. The platform also claims to offer fast execution on multiple sub-accounts.

Allocation methods available on PAMM/MAM accounts include equity percent allocation and allocation by equal risk. These accounts also have real-time allocation methods; we can only take their word for it.

Trading platforms

Prime Gain FX is using the MT4 trading platform, which experts highly recommend. The platform, alongside MT5 and SIRIX, are some of the best in the world. These platforms offer cutting-edge and user-friendly features and access to all major instruments.

Other features include multi-language and currency support and automated trading. All these amount to nothing if the platform you use blocks withdrawals. And this is what even experienced traders are facing with Prime GainFX.

VPS Subscriptions

The platform also offers VPS subscriptions starting at $19.90. In addition, members also get 100 percent rebates for PIPS VPS subscriptions. VPS accounts entitled for rebates include Bronze, Silver, and Gold. Lot sizes are shared for the three accounts, 10-19.99 for bronze, 20-20.44 for silver, and 25 and above for Gold.

How PrimeGainFX works

It all starts with the illusion that this is an active forex investment platform. They have everything, including VPS services. So we get why some investors have signed up, and it’s not their fault.

Most of them were under the illusion this is a real investment platform. Sadly, none of them confirmed the registration claim with regulators. That’s the only green light you need to invest with a platform.

PrimeGainFX License and Registration

CySEC and LFSA have all washed their hands and plan to issue a warning on the platform. Allen, who was our representative, claims they do have a license. However, when we pressed her for more details, our communication was cut.

The platform should be willing to share its license documents. After all, it’s just a link pointing investors to their CySEC or LFSA page. Without the approval of regulators, your investment is at risk.

Safety of funds with PrimeGainFX

Since the platform refuses to admit they are not licensed, security of funds is out of the question. In addition, the platform does not offer a safety net to investors. Once you deposit, there’s no insurance coverage for your investment.

Final thoughts

As long as they don’t have a license from any regulator, we have to blacklist Prime Gain FX.

Use credible forex trading robots backed by the forex community. You stand a better chance of profiting by using transparent robots.

Feel free to leave a comment or email us with any queries. We would be happy to respond.