PRIME FINANCIAL GROUP has been flagged by Financial Conduct Authority for "Unregistered/Unlicensed entity offering financial products or services". 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.primefinancialgroupllc.com.
The only good thing about PRIME FINANCIAL GROUP is that they remind you why regulation matters. I found them after comparing multiple platforms. 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: Good analytical tools|Regular platform improvements
Cons: Email notifications too frequent
Their execution during news is terrible. I had limit orders in place. When the news hit, my orders were not filled at the limit price - they were filled much worse. PRIME FINANCIAL GROUP said it was market conditions. Same news, another broker filled me properly. They are not honest.
Pros: Copy trading available|Regular updates|No hidden fees
Cons: No fractional shares|Withdrawal takes 1-2 business days
The onboarding at PRIME FINANCIAL GROUP was smooth which makes the subsequent experience even more frustrating. Once they have your money, the quality of service drops dramatically. Getting anyone to help you with an actual problem is nearly impossible.
Pros: Two-factor authentication|Low minimum deposit|Comprehensive tools
Cons: Cannot customize dashboard fully|Would like more payment methods
Their two-factor authentication was optional when I joined. I enabled it. Later I lost my phone and could not log in. PRIME FINANCIAL GROUP recovery process took 3 weeks and required notarized documents. By then I had missed important trades. Their security is your inconvenience.
Pros: Easy to use platform|Regular updates|Professional team
Cons: Withdrawal takes 1-2 business days|Account statements could be more detailed
Several red flags with PRIME FINANCIAL GROUP: (1) They promise unrealistically high returns, (2) They're not registered with Financial Conduct Authority, (3) Their contact information is vague, (4) They pressure you to deposit quickly. I recommend everyone do thorough due diligence before investing with any company.
Cons: Unauthorized firm|Found in IOSCO warnings database
Tried to withdraw my funds from PRIME FINANCIAL GROUP and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.
Pros: Initially responsive customer service
Cons: Blocked my account|No legitimate license|Fake returns
Do not use PRIME FINANCIAL GROUP for anything serious. I used them since I retired last year for small trades and it was okay. When I deposited a larger amount and traded more, my account was flagged, my withdrawals were delayed, and I was asked to explain my trading. They treat active traders like criminals.
Pros: Risk management tools|Easy to use platform|Economic calendar
Cons: Some tools only available on higher tiers
The so-called education at PRIME FINANCIAL GROUP is just marketing. Every webinar ends with a push to deposit more. The market analysis is generic and often wrong. If you want real education go elsewhere. I wasted for the past six months thinking they would help me learn.
Pros: Demo account available|Dividend tracking|Full transparency|Great customer service
Cons: Research section could be deeper|None so far
For anyone considering PRIME FINANCIAL GROUP, please be aware that this company has been flagged by Financial Conduct Authority. This does not necessarily mean they are a scam, but it does mean they may not be authorized to operate in certain jurisdictions. I strongly recommend checking the official regulator website before making any investment decisions.
Pros: Information is publicly available for verification
Cons: Flagged by international regulators|Due diligence required
After doing some research AFTER the fact (I know, I should have done this first), I discovered that PRIME FINANCIAL GROUP is not authorized by any legitimate financial regulator. They are operating illegally. The website looks very professional but it's all a facade. Please check the regulatory warnings database before investing with ANY company.
Cons: Withdrawal fees demanded|Communication cut off|Not authorized