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Forextimeprime faces a warning from the Financial Conduct Authority. In addition, most investors have lost funds with the platform for various reasons. Please find out more in our exclusive forextimeprime.com review.
Forextimeprime claims to help investors automatically trade on their behalf. Any trading asset, you name it, Forex Time Prime claims to have automatic trading tools. The platform boasts a 98 percent success rate. Sadly, no investor has seen the profit after investing with Forextimeprime.com. Hundreds of investors complained to regulators regarding the platform. The Financial Conduct Authority was the first regulator to issue a warning. Here’s more in our absolute FOREXTIMEPRIME REVIEW.
When it comes to forex trading, experts recommend that you go for unwavering trading tools. These include having reliable and trustworthy trading robots. Also, go for robots that enjoy the backing of experts and the trading community.
As with any other exit scam, Forextimeprime claims to have offices worldwide. Additionally, the platform claims to offer personal engagement when investing. But, again, we see a platform that boasts of having over eight offices.
That said, the platform fails to mention even a single staff member on their homepage. We will expose the various red flags found on the platform. Forex Time Prime targets naïve investors with their over-the-moon profit claims.
You won’t get anywhere with a platform that faces a warning from a reputable regulator. Instead, what we have is a classic example of a runaway platform. The platform intends to get as many users to sign up before closing shop.
We have seen these types of investment platforms before. Most come bearing gifts and empty promises. Before you know it, countless investors sign up, hoping to hit the jackpot. Sadly, none of it materializes as most lose their investment.
It would be best to be extra careful when deciding which investment platform to go for. We recommend doing due diligence before signing up with any platform. Make sure to do some research on the platform before committing any funds.
Acceptable funding methods on Forextimeprime.com
Members deposit funds via bank and wire transfers. On a few occasions, the platform accepts crypto deposits. The platform will ask for crypto deposits before moving to traditional funding methods.
After funding your account, the balance will reflect within one working day. After that, the platform ensures that all is well and you can begin trading. You will even see your account balance rising depending on the profit you make.
When the time comes to click the withdrawal button, that’s when the truth dawns. The platform will give excuses as to why members can’t withdraw funds. It’s the last contact you will have with the platform before your account gets deleted.
Forextimeprime fails to indicate the accounts available on the platform. And this means members are signing up blindly, not knowing the account features. It’s your right to have all the information needed to open an account.
For instance, there’s no acceptable minimum deposit or maximum leverage indication. We believe the platform leaves out this information on purpose. The platform wants to take complete advantage of naïve investors.
After signing up, you receive a call urging you to deposit as much as possible. The caller claims that the more you deposit, the higher your chances of winning. These are false claims as there are regulated platforms that ask for less.
You should know that regulators stepped in to ensure all parties adhere to strict trading regulations. And this means putting a cap on acceptable minimum deposit and leverage. As a result, the acceptable minimum deposit in almost all jurisdictions is $250.
Regarding leverage, regulators put a cap depending on the jurisdiction. In Europe, the maximum leverage is 1:100. Retail traders in the United States enjoy maximum leverage of 1:50.
These are the acceptable trading conditions that investors should keep in mind. Any platform offering leverage more than 1:100 puts your position at risk. Such platforms earn more when you make losing trades.
Available trading assets
There are five classes of trading instruments available on the platform. These include commodities, crypto, forex, indices, and stocks. You get to trade commodities such as coffee, cotton, gas, gold, wheat, sugar, and more.
We didn’t get much information on available crypto assets. However, from the price chart menu at the top of the page, it’s clear what to expect. The platform claims to offer five major currencies. These include Bitcoin, Doge, Ethereum, Litecoin, and Ripple.
Forex trading happens to be at the core of the platform’s activities. You get to trade exotic, major, and minor currency pairs. Moreover, the platform claims to trade on your behalf with their unique trading robots.
You also get to trade indices such as FTSE 100, NASDAQ, S&P 500, and more. These global markets ensure that you earn thanks to day trading. In addition, traders use these markets to predict commodities prices on a global scale.
The last trading asset is one of the most traded assets. You get to trade shares of leading companies. These shares also help day traders earn profit with each trade. That’s why you need to know more about a company before trading its shares.
Information on who owns or runs the platform remains hidden. The people behind this scam don’t want any part of it. No one would want their faces smeared on television with the name SCAM engraved on them.
It also makes Forextimeprime an anonymous investment platform. There’s no way you will get your funds back from an unknown platform. Hiring recovery agents won’t do the trick as these agents are part of the problem.
A recent investigation shows that these agents are part of the crew. You will receive an email from them even without making first contact. These agents will claim to have won a lawsuit against the platform.
All you have to do is pay the legal fees to share the settlement amount. Those who send money end up losing it altogether. These recovery agents don’t have the mandate to freeze bank accounts or share settlement details.
Contact and support
Another glaring issue we spotted on the platform is the communication aspect. You won’t get to contact support. However, support can contact you through their call agents. After opening an account, every member must leave their contact details.
That’s how the agents call you and retrieve email information. However, you will notice that the platform fails to have any live chat support. Instead, the support page leaves an email address and a phone number that rarely goes through.
Avoid platforms that fail to respond promptly to emails and other communication channels. It’s a sign that the platform doesn’t have good intentions for you. Avoid such platforms or avoid making further losses.
Deposit insurance and fund safety
Your funds are far from safe, with a platform facing a warning from the FCA. The platform fails to segregate funds or offer insurance cover. You will likely lose your funds the moment you fund their accounts.
Members are only trading with dummy accounts to try and keep the momentum going. We have to expose such scams and ensure no one else falls for the platform.
Forextimeprime License and Regulation
Forextimeprime is not a valid forex investment platform. Therefore, you need to stay away from the platform or risk losing everything.
Experts recommend that you use trading tools that guarantee safety. It’s your one sure way of earning reasonable profit margins.
Feel free to leave a comment or email us with any queries.