Beware! Primis Elite is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Primis Elite is so average looking that the review could have really ended in one of two way. Either the broker could have been legitimate but painfully normal and boring, or Primis Elite could have ended illicit but still looking the way it does. It’s taken the second route, making itself even less appealing.
PRIMISE ELITE REGULATION AND SAFETY OF FUNDS
Primis Elite is pretty much the typical scam that barely tries to hide its own shady nature by conveying a false sense of legitimacy. It does so in a typical scammer broker fashion.
For one, in the legal documents we are told that the broker is applicable anywhere where it it allowed by local laws. This is a common statement, meant to confuse and mislead the user into thinking one of two things, if not both: that the broker is actually regulated, and that it’s the client’s own responsibility to be permitted by hi or her local laws to access Primis Elite.
Further down in the legal documents, we are told that the broker actually abides by the laws of the UK, making the above reveal redundant. But this statement does not hold any support. The UK’s FCA does not regulate the likes of Primis Elite, nor the broker itlsef. The UK laws statement is a fake and misleading.
Last but not least, in the contact page we are told that the broker can be contacted through an Australian and Danish phone, suggesting the broke to be both licensed ad registered in both Australia and Denmark. Of curse, the case it very far away from this. Another one of Primis Elite’s lies.
The broker is a complete risk to all and a scam. Primis Elite is unregulated and a risk to all. Do not invest here.
Illegal and unregulated brokers spell trouble every single time! They have nothing to offer, unless you count heartache and frustration. These companies are created and run as elaborate scams (not all of them) and they are short-lived as a result of complaints and regulatory actions. But in between the creation of a scam and its downfall many users will lose their money with very little chance of a refund. This money will be redirected to various offshore and untraceable accounts and will serve the scammers to fund their own lavish lifestyles and future scammer projects.
So, really there is no reason to invest or even interact with unlicensed brokers. If you want to experiences the real FX trade, then look no further than any European, UK, US, or Australian-based brokers. These are regulated and fair institutions that treat each customer with care and respect.
PRIMISE ELITE TRADING SOFTWARE
The broker advertises some sort of a platform but there are no links to the platform, and there isn’t a lot to rely on in terms of information. As far as we’re concerned Primis Elite has no trading terminal.
There is no reason to use a broker without a trading software. It completely breaks the entire experience. If you are serious, and wish to trade like a pro, you should look no further than these MT4 and MT5 brokers.
PRIMISE ELITE TRADING CONDITIONS
We were unable to open an account; it seemed to us that the broker picks its own client base. It’s a popular scammer approach.
According to the site, there are 4 separate account types, but we could not chose an account type form the registration process, putting a question on the availability of these accounts.
The leverage here is capped at 1:400, and the only asset type that has been advertised has been crypto based assets. But there aren’t too many details on that, and what we have is not really trustworhty.
The leverage is high enough to be alluring, but the broker is a scam. So, readers should better check these high leverage brokers for the best experience.
PRIMISE ELITE DEPOSIT/WITHDRAW METHDOS AND FEES
According to the website, the available payment methods are credit cards, debit cards, wire, and some e-wallets, and probably crypto wallets. There was no minimum deposit requirement anywhere.
There are withdrawal fees revealed in the legal documents, but the broker does not provide any details on these commissions. The broker says that there is a fees and commissions schedule, but we could not find anything like this. Also, there may be additional fees and other charges none of whihc have been expanded on.
Overall, Primis Elite is a pure scam and completely useless to anyone. All investments will be lost. Speaking of which, if you want to invest less money but still be with a legit broker, then you should definitely check out these minimum deposit brokers.
How does the scam work
For years now the scammer process has been, more or less, based on the same simple principle: that of solicitation. Of course, users can also stumble randomly on a scam but this happens very rarely.
Scammers rely mainly on exaggerated advertisement campaigns and phishing tactics, that is to say cold-calling techniques, to recruit their users. On the ads front, users are lured with very striking online ads about unbelievably lucrative opportunities for investments accompanied by imagery of luxury. The client is prompted to provide a contact email and a phone number.
The contact will be established in either case, and the user will be lied to and manipulated until he or she is lead to invest. If you fail to be succumbed to the broker’s sweet talk at some point the representative will stop calling you. But until then, you will be surprised as to the exhaustive repertoire of deceits and lies these scammer have. Essentially, they will try everything to convert you to their shady cause.
A users who has invested will be prompted to deposit at least one more time, but this time a larger sum with allegedly higher chances of hitting it big on the trade game. Obviously the illicit firm in question is making all these claims up; most of them don’t even have trading software!
The time will eventually come when the client will feel cheated, but by then it is usually too late. The broker will either cut all contact with the user, shut down its site, or simply stall the withdrawal request indefinitely.
What to do when scammed
The safest bet at getting your money back is to file for a charge back with your credit or debit card provider – the chargeback period for MasterCard and VISA is 540 days. However, this can only happen if you have invested via a card, or an e-wallet supporting card payments.
Bank transfers are way harder to trace, and the only hope you have is to call the bank itself and try to figure out a reimbursement strategy. But there is no guarantee that this will work. What we can advise if you fall into this state is to immediately change your bank account password and username.
Then there are the crypto transactions which are untraceable and therefore lost for good. So, whenever you see a crypto based payment method with an unregulated broker make sure to stay clear!
Last but not least, we have the recovery agents or agencies which are total scammer of their own. They promise a full refund in return of a one time payable fee, and no small one at that. As soon as this is paid they will disappear without a trace.
