Primarkets (primarkets.io) has been flagged by ASIC (Australia) for "Unlicensed". https://www.fca.org.uk/news/warnings/primarkets
Phones: 447441901689
Addresses: Muiderstraat 1 1011 PZ Amsterdam Netherlands 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.primarkets.io.
The spread at Primarkets (primarkets.io) is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them after attending a webinar they hosted and initially thought the platform was good - until I started trading seriously.
Pros: Segregated accounts|Professional team|Clean UI|Excellent charting
Cons: Alert system is basic|Website design could be more modern
I had high hopes for Primarkets (primarkets.io) after seeing their ad online, but my experience has been disappointing. Customer support is slow, the platform has frequent issues, and their fee structure is not as transparent as advertised. I am actively looking for alternatives now.
Pros: Reliable uptime|Educational resources|Dedicated account manager
Cons: Account statements could be more detailed
After spending since the beginning of the year trying to make Primarkets (primarkets.io) work for me, I have given up. The platform has too many limitations, the fees are not competitive, and the quality of their market data is questionable. There are much better options available.
Pros: Social trading features|Full transparency|Easy withdrawals
Cons: Some tools only available on higher tiers
The only good thing about Primarkets (primarkets.io) is that they remind you why regulation matters. I found them through my accountant's suggestion. They are regulated in a jurisdiction with weak consumer protection. When things went wrong I had nowhere to turn. Stick to well-regulated brokers.
Pros: No hidden fees|Social trading features|Regular updates
Cons: Minor UI glitches occasionally|None so far
My withdrawal from Primarkets (primarkets.io) was rejected three times for vague reasons. Each time they asked for more documents. When I finally provided everything, they said my account was under review. since early this year of being strung along.
Pros: Reliable uptime|Personal attention|Good analytical tools
Cons: Email notifications too frequent|Some tools only available on higher tiers
The hidden fees at Primarkets (primarkets.io) are the real scandal here. What they advertise and what they actually charge are two different things. By the time I realized how much I was paying in various fees and spreads, I had already lost a meaningful amount.
Pros: Multiple order types|Comprehensive tools|Multi-currency support|Demo account available
Cons: Currency conversion fee exists|Search feature is basic