Prime-Xchange has been flagged by Financial Markets Authority for "Unregistered/Unlicensed entity offering financial products or services|Fraud ...". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
I had a dispute with Prime-Xchange and went to their complaints process. They have an internal team that just defends the company. Then they said I could go to an ombudsman - but the ombudsman they use is industry-funded and rarely rules for the client. The system is rigged.
Pros: Multi-currency support|Demo account available|Good analytical tools|Competitive fees
Cons: Help articles are sometimes vague
KYC with Prime-Xchange 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: Segregated accounts|API access|Copy trading available|Dividend tracking
Cons: Slow to add new assets
I signed up with Prime-Xchange when my bank disappointed me and I searched for alternatives and the first red flag was the aggressive account manager who would not stop calling. After depositing, the promised support vanished. Withdrawals are delayed with endless excuses. I have reported them to the regulator.
Pros: Dedicated account manager|Easy to use platform
Cons: Email notifications too frequent|No integrated tax optimization
I lost a significant amount because Prime-Xchange did not execute my stop loss during a flash crash. They said the market was illiquid. Other brokers managed to execute. I have no proof they did not trade against me. Avoid.
Pros: Dividend tracking|Social trading features
Cons: No phone support on weekends
After doing some research AFTER the fact (I know, I should have done this first), I discovered that Prime-Xchange 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: No regulatory oversight|Money disappeared|Fake testimonials
I wanted to transfer my portfolio from another broker to Prime-Xchange. 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: Stable platform|Copy trading available
Cons: Withdrawal takes 1-2 business days
I found this company through a friend who recommended it. Before investing, I checked various regulatory databases and found that Prime-Xchange has been flagged as an unauthorized entity. I informed my friend immediately. Please always verify with official sources - a quick search could save you thousands.
Cons: Listed in warning databases|No transparency|Pressure to invest quickly
Where do I even begin with Prime-Xchange? for roughly four months 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: Fast support response|Social trading features|Portfolio tracking tools
Cons: Spreads widen during volatile periods
I gave Prime-Xchange a fair chance. After for about ten months of usage, I can say with confidence that there are far better options available. The interface is clunky, the fees are higher than competitors, and the customer support team seems overwhelmed or understaffed.
Pros: Smooth onboarding|Automated trading options|Tax reports included|Segregated accounts
Cons: Research section could be deeper|Onboarding videos are outdated
Prime-Xchange 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: No hidden fees|API access
Cons: Limited cryptocurrency options