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Looking for big charts? Here comes a trading platform that offers some promising features including big chars. Prestige Financial Markets is a relatively new platform but it has attracted thousands of traders in a shorter period of time…
Prestige Financial Markets allows you switch time frames. The platform also offers some impressive technical indicators to help its clients. In addition, you can trade Bitcoin and there are 9 pairs involving cryptocurrency.
27 currency pairs, 4 commodities, 34 stocks, and 8 indices are available and there is something unusual as well, i.e. Alibaba/Amazon pair. This will be interesting. But do these offers make it a potentially profitable platform? We really have to consider the legitimacy and see if there are serious Prestige Financial Markets scam alerts. As usual, let’s begin with the introductory part of our review.
Prestige Financial Markets Review Summary
Recommended: No (See Our Top Ranked Legit Program Here)
Summary: At a glance it may be easy to believe that Prestige Financial Markets is licensed but a closer look reveals that the entity they’re licensed with is just a private entity NOT a government body, so in reality they are not official licensed & we would NEVER recommend trading with an unlicensed broker. On top of that they have an alarming number of complaints so we advise steering clear of them altogether. Keep reading though if you already lost money to see how you can get it back.
To make things easier for you rather than having to read our full in-depth Prestige Financial Markets review you can simply use the links below to quickly navigate straight to the information you came here looking for:
- Prestige Financial Markets Background
- Is Prestige Financial Markets Regulated?
- Prestige Financial Markets Complaints
- Prestige Financial Markets Withdrawal
- Is Prestige Financial Markets a Scam?
- Our Verdict on Prestige Financial Markets
- Scammed By Prestige Financial Markets? What To Do
- Our Recommended Place For Making Good Money
Prestige Financial Markets Background
Euro Wealth OU owns and operates Prestige Financial Markets. The platform was introduced in 2016.
- Broker: Prestige Financial Markets
- Year Established: 2016
- Owner: Euro Wealth OU (Company # 14183116)
- Address: Harju Maakond, Tallinn, Kesklinna Linnaosa, Roosikrantsi, tn 2-K 006, 10119, The Republic of Estonia.
- Platform: Trade Smarter
There is nothing that elevates this platform higher than the competitors. This is just another addition to the herd. Prestige Financial Markets uses the web-based Trade Smarter so you don’t have to download anything.
The good thing is that PFM is a simple platform so it doesn’t make things complex for the beginners. The downside is that the best features are limited to the Pro Version, i.e. Big Charts and technical analysis tools.
The account structure is not that good though. You need to deposit 500 currency units to get started with the lowest tier that is Bronze account. We have witnessed that the lowest deposit has come down to 100 and even 50 currency units with even some of the CySEC regulated brokers. 250 currency units is the convention but 500 currency units is way above the trend.
Basic training videos are only available to Silver and higher tier. 5000 currency units is the deposit requirement for the Silver account. Things are really getting steeper and here we come to the VIP account that requires 50k currency units. We are sceptical about these numbers. The thing is that most of the reliable brokers offer training videos and market reviews without restricting them to the higher tier. So the cost is becoming a big issue in this case. Why would you pay so much to avail the features that are not restricted anywhere else?
Here is a fun fact! The website says that 250 currency units is the minimum deposit but the account structure clearly shows that it is actually 500 currency units. Does it make sense?
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Is Prestige Financial Markets Regulated?
Prestige Financial Markets is NOT regulated by a governmental regulatory authority. The platform is actually registered with a private entity named the Private Investor Protection for Securities and Exchange (PIPSEC).
It is again disappointing because the pricing and the account structure is such that we thought it to be a highly transparent platform and that is why the team is confident of attracting the clients even with such high rates. We don’t know why should one prefer this platform over any CySEC regulated broker offering its services at favourable terms?
Prestige Financial Markets Complaints
The numbers are much higher. Even the ordinary features are restricted to the higher tier. And on top of that, Prestige Financial Markets is NOT regulated by a reliable authority.
With such high numbers, the platform has to earn extraordinary reputation to attract traders. We think that they’ll have to revise their policy and terms. It is not really going to work for long.
Prestige Financial Markets Withdrawal
According to the content of the website, Prestige Financial Markets needs 3 working days to process a withdrawal. The maximum time is 5 working days and it depends on the bank of the trader. In addition to the wire transfer, eWallets and Debit/Credit cards are also facilitated for the withdrawal. The problem is that the withdrawal policy doesn’t talk much about the fee structure and minimum withdrawals. It doesn’t even tell if the bonus and turnover have to play any role in this regard.
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Is Prestige Financial Markets a Scam?
There are no serious Prestige Financial Markets scam alerts. But it doesn’t make a transparent. It has been around for just a couple of years. It is not regulated. Not too many traders are aware of it and we definitely have to wait for a year or so to see if the scam complaints trigger in the near future.
Update: The FCA (UK regulatory body) have now issued a warning against Prestige Financial Markets!
Our Verdict on Prestige Financial Markets
We DO NOT recommend Prestige Financial Markets because the minimum deposit is much higher, the best features are restricted, and no governmental authority regulates this platform. It doesn’t offer any extraordinary feature to justify the account structure.
There is simply no way we would EVER recommend trading with an unrelated broker as by doing so you are just essentially asking for trouble. Literally ever single unlicensed broker we’ve come across to date has turned out to be scamming members by either just taking their cash & disappearing or by blocking their withdrawals using various trickery.
Scammed By Prestige Financial Markets? What To Do
Since publishing this review of Prestige Financial Markets it has come to our attention that there have been a lot of scam reports about them on other websites, but if you too feel you have fallen victim to the Prestige Financial Markets scam then you have landed in the right place.
Here at Stopping Scammers we have put together a free money reclaim guide which shows you step-by-step exactly how you can get your money back from binary options scammers and to date it has already helped thousands of people to find success in retrieving their funds.
So like we mentioned above if you feel you have been scammed by Prestige Financial Markets then you should definitely check out our guide as it’s completely free & we know it will help you. You can get access to it right now by clicking here.
Our Recommended Place For Making Good Money
Honestly here at Stopping Scammers we really dislike trading (even with legitimate brokers) and if you’ve read any of our other blog posts you’ll probably already have realized that by now. In our opinion it’s just WAY too risky and there are much better means of making good money online.
But what are the other means of making money you ask? Well whilst carrying out our investigations into various make-money programs we have certainly come across a lot of scams but we have also came across a lot of really great opportunities too.
Out of all of the opportunities we’ve came across though there has been 1 in particular which has stood out from all of the rest & as a result we have given it the name of our number 1 recommendation for working from home.
So if you’re still looking to make extra money then we highly recommend you check it out & you can do so for free by clicking the link below: