Prime Option Outlay (Imposter) has been flagged by Financial Markets Authority for "Registered/Licensed entity impersonators|Fraud and Other Types of Misconduct". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
If you are reading this considering Prime Option Outlay (Imposter) - run. I wish I had read more negative reviews from a review site like this one. I thought the positive ones were real. Maybe some are. My experience over for just over a year has been so bad I feel obligated to warn others. Do not make my mistake.
Pros: Dividend tracking|API access|Customizable dashboard|Good analytical tools
Cons: Would like more payment methods|No fractional shares
KYC with Prime Option Outlay (Imposter) is a nightmare. I submitted my ID and proof of address. They rejected it and asked for a utility bill. I sent it. They asked for a bank statement. Then they asked for a selfie with the ID. Then they said the selfie did not match. I gave up.
Pros: API access|Excellent charting
Cons: Live chat only during business hours|Minor UI glitches occasionally
I was about to invest with Prime Option Outlay (Imposter) but decided to check their regulatory status first. They claim to be regulated but I could not find them on any official register. Financial Markets Authority has actually issued a warning about this firm. Thank goodness I checked before sending any money.
Cons: Not registered with regulators|Unrealistic promises
My card was charged twice by Prime Option Outlay (Imposter) on the same day. I had to dispute it with my bank. Prime Option Outlay (Imposter) then froze my account and said I had a negative balance because of the chargeback. They created the problem and then punished me for it.
Pros: Quick verification|Fast deposits|Demo account available|Easy withdrawals
Cons: Limited social trading features|Research section could be deeper
Prime Option Outlay (Imposter) advertises low fees but once you dig into the fine print, there are numerous charges that add up quickly. Inactivity fees, withdrawal fees, currency conversion fees - it all eats into your returns. I wish I had read the terms more carefully.
Pros: Segregated accounts|Excellent charting|Regular updates
Cons: Mobile app could be improved|Wait times can be long during peak hours
Prime Option Outlay (Imposter) locked my account without warning and demanded documents I had already submitted. for about eight months later I still do not have access to my funds. Their compliance team does not respond to emails. I am considering legal action.
Pros: Fast support response|Market news feed
Cons: Research section could be deeper|Account statements could be more detailed
The only good thing about Prime Option Outlay (Imposter) is that they remind you why regulation matters. I found them based on a colleague's recommendation. 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: Real-time alerts|Fast execution|Segregated accounts|Quick verification
Cons: No crypto staking
Prime Option Outlay (Imposter) seems more interested in acquiring new customers than taking care of existing ones. The marketing is aggressive but the product is mediocre. Once you are past the honeymoon period, the cracks in their service become very apparent.
Pros: No hidden fees|Multi-device support|Transparent fees
Cons: Limited cryptocurrency options|Wait times can be long during peak hours
After doing some research AFTER the fact (I know, I should have done this first), I discovered that Prime Option Outlay (Imposter) 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: Cannot withdraw funds|Not regulated|Pressure tactics