PrimeOT is an unlicensed / offshore Crypto Currency & Forex trading broker, that open in June 2019. Our check on March 22nd 2022 shows their website is no longer available.
If you lost money with this broker, learn why.
PrimeOT Broker Review
During our review of the brokers PrimeOT, we see that they are offering investors their inhouse proprietary trading platform. The trading platform is very basic, an easy to use for a newbie investors. They do not have the option of using MetaTrader5, and they also do not have a mobile trading app.
Assets available for trading includes; Popular Forex pairs, Crypto Currency, Commodities and Stocks. This broker requires a minimum deposit of 250 Euro. There are five account types to choose from based on the size of your deposit. The only difference between the different accounts is the leverage rates, which go as high as 500:1. Using high leverage is the best way to quickly lose your money.
We noticed during our test of their spreads, that BTCUSD had a huge $250 spread between the bid and the ask price. Leverage on Bitcoin was only 5:1. Compare the large crypto brokers, see here.
New Algorithm Trading Apps
Each week we get an email about a new trading software which will make thousands of dollars a week. Most of these systems are proven scams, and promoted by Fake News, read this article.
You can play around with some of the free trading robots listed here.
Does PrimeOT Have a License?
No, PrimeOT is not a licensed or regulated broker. PrimeOT is owned by Cortofin Ltd, and located at: Trust House, 112 Bonadie Street, Kingstown, St. Vincent and the Grenadines. Contact phone number is: +442039663647, and their email address is [email protected]. The brokers official website is: https://primeot.com/.
The way that the Scam Broker Investigator reviews a new Crypto or Forex CFD broker to decide if they are a scam or legitimate broker, is by checking for a licensed from ASIC. Legitimate brokers will always have a license from either the FCA in England, FSCA South Africa or BaFIN Germany.
Using a regulated broker means that if there is a problem, the government regulator will help you get your money back.
If you have a complaint or problem withdrawing your money, go here.
Compare Licensed Brokers
Investors and day traders of Crypto Currencies can find many licensed and regulated brokers, look here.
If you are currently investing with this broker, please share your thoughts in the comment section below.