Caution Investors Primem4trade – Regarding market intermediaries (investment and trading advisers, collective investment schemes, brokers, dealers, and transfer agents)
Overview:
Primem4trade is a company that claims to offer investment and trading services to customers around the world. However, the company has been flagged by the Dutch Authority for the Financial Markets (AFM) as a suspected boiler room, meaning that it may be involved in fraudulent and deceptive practices. In this blog post, we will review the company’s regulations and compliance, customer reviews, products and services, location, customer service, and conclusion.
Regulation and Compliance:
According to the AFM, Primem4trade does not have a license or a European passport to operate as a market intermediary in the Netherlands or in any other EU member state. This means that the company is not authorized to offer investment or trading advice, collective investment schemes, brokerage, dealing, or transfer agent services to customers in the Netherlands or in the EU. The AFM warns consumers not to respond to any offers from Primem4trade, as they may be exposed to high risks of losing their money or becoming victims of identity theft.
Customer Reviews:
We could not find any positive or neutral customer reviews for Primem4trade online. The only reviews we found were negative and reported similar experiences of being contacted by Primem4trade’s salespeople without solicitation, being pressured to invest in dubious or non-existent shares, and being unable to withdraw their funds or contact the company after making a deposit. Some customers also reported that Primem4trade used fake or stolen identities, forged documents, and spoofed phone numbers to deceive them.
Products and Services:
Primem4trade claims to offer a variety of products and services, such as stocks, commodities, currencies, indices, ETFs, CFDs, options, futures, and cryptocurrencies. However, the company does not provide any details about its trading platforms, fees, spreads, leverage, margin requirements, execution policies, or risk management tools. The company also does not disclose its liquidity providers, clearing firms, or custodians. Moreover, the company does not have any affiliation or partnership with any reputable financial institutions or regulators.
Location:
Primem4trade claims to have its headquarters in Amsterdam, the Netherlands. However, the address provided on its website is fake and does not correspond to any physical location. The company also claims to have offices in London, UK; Zurich, Switzerland; and Hong Kong. However, these claims are also false and cannot be verified. The company’s website domain was registered in September 2023 using a privacy protection service that conceals the identity and location of the owner.
Customer Service:
Primem4trade claims to have a 24/7 customer service team that can be reached by phone, email, or live chat. However, these channels are either non-functional or unresponsive. Customers who have tried to contact Primem4trade for inquiries, complaints, or withdrawals have reported that they either received no reply at all or were met with rude, aggressive, or evasive responses. Some customers also reported that Primem4trade’s salespeople continued to harass them with unsolicited calls and emails even after they requested to stop.
Conclusion:
Based on our review, we conclude that Primem4trade is a scam and a boiler room that should be avoided at all costs. The company has no license or authorization to operate as a market intermediary in the Netherlands or in the EU. The company has also been warned by the AFM as a suspected boiler room that may be involved in fraudulent and deceptive practices. The company has no positive or neutral customer reviews online and has received numerous complaints of being untrustworthy, unprofessional, and unethical. The company’s products and services are vague and unclear and do not comply with any industry standards or regulations. The company’s location is fake and cannot be verified. The company’s customer service is non-existent or hostile and does not respect customers’ rights or interests.
