PrimeCFDs Review

PrimeCFDs Broker Logo

PrimeCFDs is an unlicensed Forex CFD broker that opened in April 2017, and they are owned by Orion Service EOOD. Prime CFD’s is located at: 39 Aleko Konstantinov Street, Sofia, Bulgaria. Their phone number in Bulgaria is: +359 5291 9520, and contact email is support@primecfds.com.

Complaints about brokers can be found here.

PrimeCFDs Broker Review

PrimeCFDs is using the TraderSoft trading platform for Binary Options, CFD and Forex trading. Available for trading are hundreds of underlying assets in the markets of Forex, Stocks, Commodities and Market Indices. They are offering 5 account types with the returns on binary options ranging from 82% – 88% depending on account type.

They make no mention of a minimum deposit for new accounts, but we assume it is the industry standard of $250. You have a choice of using either the web based desktop trading platform, or you can download their mobile trading app for Android or iOS.

PrimeCFDs Trading Platform
PrimeCFDs Trading Platform

PrimeCFDs License & Regulation

Whenever the Scam Broker Investigator reviews a new broker, the best way to know if they are a legitimate broker is by checking for a license. Many Forex brokers are licensed by a local regulator like ASIC in Australia or the FCA in the United Kingdom.

This broker is not licensed. 

Smart traders always verify that the broker is also licensed in their local country. You can find a list of all the popular Forex brokers here.

Compare PrimeCFDs

With hundreds of brokers to choose from, traders usually choose one of the best brokers, see here.

Plus500 is the largest Forex broker that is licensed in both Australia and South Africa. Get a live account for only $100, or try the demo at: Plus500.com.

CM Trading is a popular Forex broker that is licensed by the FSB in South Africa. They have a Copy Trading feature you can see here.

Best Forex Brokers

What was your trading experience with PrimeCFDs like? Please leave your review in the comments below.



PrimeCFDs Review

PrimeCFDs Broker Logo

PrimeCFDs is an unlicensed Forex CFD broker that opened in April 2017, and they are owned by Orion Service EOOD. Prime CFD’s is located at: 39 Aleko Konstantinov Street, Sofia, Bulgaria. Their phone number in Bulgaria is: +359 5291 9520, and contact email is support@primecfds.com.

Complaints about brokers can be found here.

PrimeCFDs Broker Review

PrimeCFDs is using the TraderSoft trading platform for Binary Options, CFD and Forex trading. Available for trading are hundreds of underlying assets in the markets of Forex, Stocks, Commodities and Market Indices. They are offering 5 account types with the returns on binary options ranging from 82% – 88% depending on account type.

They make no mention of a minimum deposit for new accounts, but we assume it is the industry standard of $250. You have a choice of using either the web based desktop trading platform, or you can download their mobile trading app for Android or iOS.

PrimeCFDs Trading Platform
PrimeCFDs Trading Platform

PrimeCFDs License & Regulation

Whenever the Scam Broker Investigator reviews a new broker, the best way to know if they are a legitimate broker is by checking for a license. Many Forex brokers are licensed by a local regulator like ASIC in Australia or the FCA in the United Kingdom.

This broker is not licensed. 

Smart traders always verify that the broker is also licensed in their local country. You can find a list of all the popular Forex brokers here.

Compare PrimeCFDs

With hundreds of brokers to choose from, traders usually choose one of the best brokers, see here.

Plus500 is the largest Forex broker that is licensed in both Australia and South Africa. Get a live account for only $100, or try the demo at: Plus500.com.

CM Trading is a popular Forex broker that is licensed by the FSB in South Africa. They have a Copy Trading feature you can see here.

Best Forex Brokers

What was your trading experience with PrimeCFDs like? Please leave your review in the comments below.



Reviewed by Scam Broker Reviews
  • Kevon Mason

    I believe i have been extremely foolish and gone against my previous instincts to guard my money. I will share my stupidity with you all.
    I have almost all of my funds with Primecfds, initially placed with WMOptions. You can see their website as http://www.primecfds.com.
    I also allowed myself to be convinced to accept a credit equal to the amount I deposited. My account manger was Ethan Stark. Ethan assured me that the credit would be liquidated within 6 months. He also assured me that i could withdraw funds whenever i wished. He placed most of my FX trades on my behalf, and my account does show great returns. If my account and trading platform is real, it appears my account has grown 71%.
    However the education training promised has been almost non existent, and contact with my account manager has been extremely difficult.
    The only way to contact Ethan directly was via Skype or his email address. When that failed or took to long for a response my only means was to contact their support staff, who would not transfer my call, but take a message to have Ethan get back to me. Ethan refused to give his direct line with some excuses as to why. Even though their website says a client would have direct contact via phone, email or skype etc.
    I informed Ethan that soon i would like to make some small monthly withdrawals from my account, to which he welcomed.
    The trading activity from Ethan recently dropped off. And after it died completely I discovered from their support team that Ethan was no longer my account manager and that a new person Mark Spencer is my account manger.
    I have made contact with Mark Spencer, who said Ethan had a new contract within Primecfds.
    I informed Mark of all the above information, which he replied that i could not make any withdrawals until I had traded a certain trading volume. This trading volume is large, and at my current trading history would take about 11 years to liquidate my account.
    He said the only way I could shorten this time is to trade higher volume each day, and showed me several examples of daily trading volumes to achieve a more acceptable timeframe to liquidate my account, and would also allow me to withdraw a small sum each month until I reached the trading volume required to liquidate my account.
    However all options required me to make further deposits into my account, which reduced the Credit, and the multiplier applied to to credit.
    I considered the option that required the least deposit and allowed a withdrawal of cash each month.
    Although Mark informed me that I did not have to do anything different that the current situation, when i wanted time to consider the options, Mark then became very persuasive and applied pressure for me to make a deposit, using a timeframe as a reason and to get trading with his assistance underway.
    I made a Debit card deposit.
    In short my bank sent me a SMS to contact them immediately. Their Fraudulent representative informed me that ASIC (Australian Securities and Investments Commision) do not have Primecfds registered, and have Primecfds on their list of companies not to deal with as they are operated in countries who are not regulated by Cysec or ASIC, therefore are a big risk. Apparently Australians lost over $300M just in 2016 due to many of these companies fraudulent activities.
    Many of these companies are apparently operating under scam operations tied back to head quarters in Israel, who set up call centers in countries, who operated as investment companies with a website as a facade.

    It is probably too late for me, now but i wished I backed my first suspicions about entering into this.

    However, i still have the trading platform, and it shows a healthy balance, so I am going to continue to trade it with Mark Spencer’s assistance, i hope. I think he may also drop off communicating with me once he realises I am not going to make any further deposit.
    He did say I could do nothing, and he would as my accoutn manager give me support to trade through this. Well lets see if he does continue to support me. That will spell out a scam wont it?
    Regardless, i am going to attempt to trade my way to achieve the volume required to liquidate my account. Then once that volume has been achieved, the truth about with drawing my funds will be revealed 100%.

    Some information about the company behind PrimeCfds.
    They are owned and operated by:
    Omni global Solutions SLR,
    Romania, Bucharest,

    17 Baba Novac Str, Ground floor,
    B1 GL3, Sc.2 Ap 15 Bucharest,
    Romania

    Has anyone else had similar dealings with this company, or when they were operating as WMOptions, i would love to hear about it.

  • David MacKenzie

    WM Option changed their name to PrimeCFD’s in April 2017 and after reading the comments above, it would seem they were written by PrimeCFD’s themselves.
    In my experience, which has not been good from the beginning, i have found the allocated Account Managers of which i have had 3 plus a temporary one, to be forceful and bullying with their unethical tatics in getting an additional deposit especially their Finance Manager!!!!!!!.whcih i also have proof of.
    They also say there is not a problem in withdrawing funds – wrong – as i found it totally impossible, not only trying to withdraw but also requesting a refund and left messages on the website plus sent numerous e-mails which were all replied to by the support administration staff whom i found to be ill advised and totally incompetent.
    In summary i have lost a considerable amount of money (in my view) with all the losses attributable to bad advice.
    a;so when an account manager guides you through an investment(s) which loose i didn’t hear from them again.

    • Kevon Mason

      David, I have experienced the same as you it seems, however i foolishly got sucked into going onto their VIP platform back in january 2017 which was supposed to provide some advantages, as well as personal trading assistance, education, and a faster trading platform etc. I informed them at the very beginning i a novice trader, and require support.
      Be aware anyone reading this, that this so called VIP or any similar account is not visible on the PRIMEcfds or formally WMoptions website, and if you ask the support team about your account they do not have any information about this VIP platform. They actually told me that they saw i had nothing in my account, when i in fact had my entire retirement funds deposited. They then said i would need to discuss this with my account manager.
      This really unnerved me at this point. All the useless support staff can see is any money deposited into the Primecfds (WMOptions) website which has a web based trading platform and anyone who has an account can see their balance and click onto a withdrawal button.
      I actually have a few thousand dollars sitting in that account (i have not used for anything), which i clicked the withdrawal button to begin the process of withdrawal over 2 weeks ago. This is where it ended, because a message will pop up telling you that the account manager will contact you about the withdrawal soon. In short after countless calls and Skype messages to the Support staff to release the withdrawal, nothing has happened.
      Please any one reading this, do not deposit any money with this company!!!!
      After some extremely great trade results put on by Ethan Stark my account manger, and some pressure to increase my portfolio balance i put almost all of my retirement money onto their platform, on the understanding i would be able to easily make monthly withdrawals. Once they had all my money, the contact from my account manager disappeared. After contacting their incompetent support staff who could not do anything but pass on messages, and will not transfer any phone calls, they eventually told me i had a new account manager, Mark Spencer. Mark informed me that i could not make withdrawals and that the bonus they gave me, meant it would take about 11 years years of trading based on my current trading. That floored me. I told him that is completely different to what Ethan Stark my previous account manager told me. He did not care about any of that. All he wanted was more money to help reduce to time to liquidate my account. He applied a lot of pressure. He got very pushy and aggressive.
      David i am not sure where to go from here, except if you can tell me of any other forums and websites that i can hit with this warning to others.
      Have you heard of Mychargeback.com they are based in Chicago USA, They claim to be able to recover some of your money. They have told me that they believe Primecfds are linked back to a major fraud centre based in Isreal. What do you think?

    • Krystal Saaf

      Agree with David. I have had the same experience. PrimeCfds are cheats. You can never reach Account managers unless they contact you. They don’t process withdrawal. The messages, email or even phone call to the help desk do not help. I have the calls recorded where the account manager says he cannot release my money.

  • JENNIE

    Totally agree with David Mackenzie.The manager said the company gave me a bonus, at a time when I was about to open a trade. He hurried me to sign the bonus application saying we have to make the trade fast. I was so unsuspecting and stupid. Now I can’t make any withdrawal until I have done a number of trade volume, which they won’t tell me how much. They keep avoiding it whenever I ask. the contract is not valid if the details are not clear, but no use because they are playing by their own rules. Yes, the managers are forceful, pushy and bullies!!! They just keep pushing you to put in more money. Customer support is useless. Everything is controlled by those managers! I am scared I will never get my money back. This company is really not regulated. Who is in charge of this company? Where can I make a complaint against this company?

    • Alan Moore

      I have to agree that the online chat support is useless as they refer everything to the account manager to contact you. This is my experience. Anyway, I have lost everything which I put in, my fault really for stupid trades. As a novice I feel better advice on where things can go badly wrong could have been given.

      • Alex

        Alan Moore.
        Not really your fault.
        You never made any real investment with them.
        You were playing against the house.
        They would never allow you to make any profits.

        • Alan Moore

          Thanks Alex, have to admit I have been beating myself up with what else I could have done with the money I have lost, blaming myself that I should have done things differently

  • Kevon Mason

    I would like to know why this site is still supporting PRIMEcfds with such a glowing review? Especially now that very unfavourable reports are rolling in about this PRIMEcfds scam.

    • What about this review is glowing? The fact that they are unlicensed?

      • Kevon Mason

        my apologies, i should have read it again complete.

  • David Lim

    Thanks for post review of PrimeCFDs, they are definitely a scam organisation!

  • Francois Pienaar

    Prime CFDs is a company that is focused on theft of money from prospective investors. Stay away.

  • Alan Moore

    do not go near this site, promises of help and one-one trading from a specialist. Promises of turning 250K into a million within 6 months. Whilst possible the 1-1 never happens and you are left to lose the lot. Never was able to withdraw funds so cant comment on whether thats an impossibility or not. Do your research people and choose trustworthy sites for trading

  • Marija Dimova

    NEVER trade with unlicensed broker. I’ve made that mistake before and I got burned bad! Since switching to a trustworthy broker (CMTrading) I enjoy great earning stream and hopefully I am going to maintain it!

  • Deborah Bain

    This was a nightmarish situation from the start. I tried to cancel out and withdraw my monies but I got a call from a man who I assume goes by a fictitious name, Adam Louis. He convinced me not to cancel out but give him a chance to work with me…Even worse idea! Needless to say, I lost the majority of my money and now I’m getting the Royal Run around! I have been trying to withdraw remaining funds from Primecfds for weeks now. I have written emails and communicated with their Live Chat service on numerous occasions only to be given the empty promise EVERY time that Mr. Adam Louis or his manager will contact me because they have to speak with me before releasing any funds. I have yet to hear from anyone.
    I have also made many attempts to call PrimeCFDs via 2 different phone numbers including the one listed on their site and I receive a recording that the numbers are out of service. What is going on???? I only need my monies back..that’s all. PLEASE HELP ME.

    • Reg

      Hi Deborah,
      My story is exactly the same as yours. Sucks eh? Maybe someone hear can tell us what we can do about it.
      Regards
      Reg Price

    • Helena Grech

      Did you manage in the end?

  • MANNY

    hi i am in the same situation as Alan and although i have traded with success and a positive account. withdrawing from this guys if next to impossible.
    did any one who had positive funds get any money from primecfds? i like to know how please

    • jeft

      Hi, i just put in USD250 to prime cfd. I regret and want to withdraw my money after knowing it is scam company. Unfortunately, i failed to withdraw the money. They asked me to submit info of credit card and ID so that they process my account. I am scared the infomation given will be missed for other purposes. The broker keeps calling me but i don’t pick up the phone. Could someone advise me how to handle this situation. Thanks

      Jeft

      • Matt Donnelly

        Call the bank’s number of the back of your credit card and report the transaction as fraud.

  • Johny

    I deposited $250 into this broker as well. I am as fearful as you all. BTW there is no binary options anymore when I open the account. This broker charges monstrous spreads and on top of it they charge hidden “clearing fee”. Clearing fee??! And yes, the so called account managers are VERY aggressive and I stayed firm not to add in more deposit. Thank god I have very small positive gains up to now and wishes to withdraw soon. Let you guys know if I manage to withdraw.

  • JENNIE

    Their “specialist” only takes clients with VIP accounts. He has organised a group, promising to turn 250k into a million by year end. In his webinars, he shows his account with over 3 million in it. Those could be fake ….could be a show to lure people. I must admit they were very convincing. I have thought about wanting to be his client but decided against it because I still haven’t been able to withdraw my money. I don’t want to end up with more money stuck inside. I am trading by myself and waiting to get enough points to release my bonus. Even then, I don’t know if I can withdraw. I don’t answer their calls now. Useless…because they are always asking me to deposit more funds. I have told them many times I can’t afford it! They said they can’t help me then, that all the other clients have executed the trades and I am the only one who is not making money.
    Well, when I have gotten the points needed, will let you guys know about my withdrawal.

  • Helena Grech

    Do you guys know of anybody who has gotten their money back without any issue? Does literally everybody who invests struggle to withdraw their money? And have PRIME encountered any legal challenges for the way it is run?

  • Tahera Fazal

    My story is exactly the same as yours. Primecfds.com is scam aand thugs. Now neither they asnwering phones nor skype not event replying email. Maybe someone can tell us what we can do about it. They must be some ways this to be stopped. They intimidated me by saying that the company isnot regulated in UK, hence I can not do anything against them. Please I need help………
    Regards

  • D0WN3D

    Stop talking shit. You can’t withdraw your money because you need to send some documents. Also you can’t withdraw because you accepted to get a bonus. Get your shit straight.

  • Emerson Pereira

    Prime CFDs = JUNK + JUNK.

  • Read how to get your money back here: http://scambroker.com/complaints/

  • Yuvarajah
  • Wei Xian Ang

    100% TRYING TO SCAM COMPANY. Keep forcing trader to trade, after a small investment, the would advise you invest more or buy sort of INSURANCE. In the end, you will want to close the account because you feel like you cannot continue more. Then, they started not calling you (my case; more than 10 business days already and my account hasn’t been closed yet because they aren’t calling me, usually they keep calling you for a trading frequently). You would wonder why they need to call you for verbal approval for closing an account, BECAUSE they want to advise you not to close and invest MORE! During these ten business days and longer, everyday, I came to Prime CFDs live chat telling them my issue. Guess what, all of them reply you the same useless thing, they are basically useless. Until this moment, my account still hasn’t closed yet. I will share my experience to this kind of website as many as possible. Can’t stand this company trying to scam more people!