www.privilegetrading.com has been flagged by AMF (France) for "Unauthorised". Category: Forex 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.privilegetrading.com.
www.privilegetrading.com 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: Easy to use platform|Competitive fees|Helpful community forum|Clear documentation
Cons: Desktop app not available on Linux
After for roughly four months with www.privilegetrading.com, I can only describe the experience as death by a thousand cuts. No single issue was catastrophic, but the constant stream of small problems, slow responses, and missing features wore me down until I finally left.
Pros: No hidden fees|Risk management tools|Competitive fees
Cons: None so far|Search feature is basic
The hidden fees at www.privilegetrading.com 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: Customizable dashboard|Multi-currency support|No hidden fees
Cons: Slow to add new assets|Inactivity fee applies after 12 months
I had a dispute with www.privilegetrading.com 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: Stable platform|Social trading features
Cons: Account statements could be more detailed|Onboarding videos are outdated
Do not believe the bonus offer from www.privilegetrading.com. The turnover requirement is designed so you can never withdraw. I learned the hard way. I deposited when my bank disappointed me and I searched for alternatives and the bonus terms were buried in pages of small print. My fault for not reading but their design is predatory.
Pros: Segregated accounts|Quick verification|Transparent fees|Multi-currency support
Cons: Spreads widen during volatile periods|Help articles are sometimes vague
Customer support at www.privilegetrading.com seems to be run by people who have never used the platform. Every time I call with an issue, I end up explaining how their own system works before they can help me. It would be funny if my money was not involved.
Pros: Fast execution|Intuitive for beginners|No hidden fees|Easy to use platform
Cons: Limited ETF selection|Withdrawal takes 1-2 business days
I found www.privilegetrading.com after a trusted YouTuber reviewed them and the initial impression was positive. But for about eight months later, I have encountered so many issues that I cannot recommend them. Trades failing, charts not loading, and support tickets going unanswered for days at a time.
Pros: Instant funding|Quick verification|Detailed reporting|Real-time alerts
Cons: Would like more payment methods