Primexpulse Ltd. Review
Beware Investors Primexpulse Ltd. – Regarding fraudulent or manipulative practices (insider dealing, market manipulation, misrepresentation of material information, etc.)
Who is Primexpulse Ltd.:
Primexpulse Ltd. is a company that claims to provide online trading platforms for forex, CFDs, commodities, indices, stocks, cryptocurrencies, and more. According to its website, the company is based in St. Vincent and the Grenadines and has offices in London, Dubai, and Hong Kong. However, the company does not disclose its registration number, contact details, or ownership structure.
Regulation of Primexpulse Ltd.:
Primexpulse Ltd. is not licensed or authorised by the Australian Securities and Investments Commission (ASIC) to provide financial services in Australia. ASIC is the national regulator of financial markets, corporations, and consumer credit in Australia, and it oversees the compliance of financial service providers with the laws and regulations that protect investors and consumers.
ASIC has issued a warning to the public about Primexpulse Ltd., stating that it may be a scam or involved in illegal activities. ASIC advises investors to avoid dealing with this broker, as it may not have adequate safeguards in place to protect their money or personal information. ASIC also urges investors to check its website for a list of licensed and registered financial service providers before engaging in any financial transactions.
Location of Primexpulse Ltd.:
Primexpulse Ltd. claims to have its headquarters in St. Vincent and the Grenadines, a Caribbean island nation that is known for its lax regulation of offshore companies and financial services. However, there is no evidence that Primexpulse Ltd. is registered or regulated by any authority in St. Vincent and the Grenadines, or that it has a physical presence there.
The company also claims to have offices in London, Dubai, and Hong Kong, but these locations are not verified or confirmed by any official sources. The company does not provide any address, phone number, or email address for these offices, making it difficult for investors to contact or verify them.
Services offered by Primexpulse Ltd.:
Primexpulse Ltd. offers various financial products and services through its online trading platforms, such as forex, CFDs, commodities, indices, stocks, cryptocurrencies, and more. The company claims to offer competitive spreads, low commissions, fast execution, high leverage, advanced tools, and educational resources.
However, these claims are not backed by any evidence or testimonials from real customers. The company does not provide any information about its trading conditions, fees, risks, or policies on its website. The company also does not disclose how it handles customer funds, whether it segregates them from its funds, or whether it uses reputable third-party custodians or payment processors.
Reviews of Primexpulse Ltd.:
There are very few reviews of Primexpulse Ltd. available online, and most of them are negative or suspicious. Some reviewers claim that they have been scammed by this broker, that they have lost money, or that they have been unable to withdraw their funds or close their accounts. Some reviewers also allege that the broker uses fake reviews, testimonials, and awards to lure unsuspecting investors.
Customer Service of Primexpulse Ltd.:
Primexpulse Ltd. does not provide adequate customer service or support to its clients. The only way to contact the company is through a web form on its website, which does not guarantee a response or resolution. The company does not have a live chat feature, a phone number, or an email address that customers can use to communicate with its representatives.
The company also does not have a FAQ section, a terms and conditions page, or a privacy policy on its website, which are essential for informing customers about their rights and obligations when using its services.
Securing Your Investments Against Unscrupulous Brokers:
If you are looking for a reliable and trustworthy online broker to trade with, you should do your due diligence before signing up with any provider. Here are some tips to help you secure your investments against unscrupulous brokers:
– Check the ASIC website for a list of licensed and registered financial service providers in Australia.
– Avoid dealing with brokers that are based in offshore jurisdictions that have weak or no regulation of financial services.
– Read the reviews and testimonials of other customers who have used the broker’s services.
– Compare the trading conditions, fees, risks, and policies of different brokers before choosing one.
– Read the terms and conditions, privacy policy, and other legal documents of the broker carefully before agreeing to them.
– Use secure payment methods and keep records of your transactions and communications with the broker.
– Monitor your account balance and activity regularly and report any suspicious or unauthorised transactions to the broker and ASIC.
– If you encounter any problems or issues with your broker, try to resolve them directly with the broker first. If that fails, you can contact ASIC or other relevant authorities for assistance or a complaint.
Conclusion:
Primexpulse Ltd. is an unlicensed and unregulated online broker that may be involved in fraudulent or manipulative practices. ASIC warns investors to avoid dealing with this broker, as it may not have adequate safeguards in place to protect their money or personal information. Investors should do their due diligence before engaging in any financial transactions with any online broker, and check the ASIC website for a list of licensed and registered financial service providers in Australia.
