Prestige Private Wealth has been flagged by ASIC (Australia) for "Unlicensed (Legacy)". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: www.prestigeprivatewealth.com.
Prestige Private Wealth had an outage that lasted several hours during a major market event. Not only did they fail to prevent it, but they also failed to communicate what was happening. We were left in the dark while our investments were at risk.
Pros: Reliable uptime|High security standards|Fast execution|Great customer service
Cons: Email notifications too frequent
Where do I even begin with Prestige Private Wealth? for over three years of broken promises, unanswered tickets, and a platform that feels like it was built in 2010. They spend more on marketing than on actually improving their service. Stay away from this company.
Pros: Quick verification|Tax reports included|High security standards|Economic calendar
Cons: Nothing significant
I wanted to transfer my portfolio from another broker to Prestige Private Wealth. They said they do not accept in-kind transfers for my asset type. I had to sell, withdraw, deposit, and rebuy - incurring taxes and spread costs. They did not tell me this before I signed up.
Pros: Regular updates|Stable platform
Cons: Withdrawal takes 1-2 business days
I requested my data from Prestige Private Wealth under GDPR. They sent a partial export that was missing months of transactions. When I asked for the rest they said it was a technical issue. Still waiting. They do not take data rights seriously.
Pros: Good analytical tools|Easy to use platform|Clean UI
Cons: None so far|Currency conversion fee exists
The spread at Prestige Private Wealth is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them based on a colleague's recommendation and initially thought the platform was good - until I started trading seriously.
Pros: Low minimum deposit|Easy withdrawals
Cons: Minor UI glitches occasionally|Email notifications too frequent