FMA warns against primefirmtrade.com as unreasonably withholding investor funds

FMA in Zealand is concerned that primefirmtrade.com is involved in a scam.

The firm is withholding client funds unreasonably. Clients are required to make a large sum payment for a “withdrawal code” to withdraw funds from their trading accounts.

There is information that suggests a connection between their website and two other websites - metasmarttrade.live and bitfidel.com. FMA believes that the testimonials on all three websites are fake and made by fictitious individuals.

In addition, FMA mentions that the associated business address 20 Richardson Drive, Saint Petersburg, FL33710 which is listed on their website is not the address of the entity.

Details of the Unregistered Firm - primefirmtrade.com

Entity name: PrimeFirm Trade
Website: primefirmtrade.com
Email: [email protected]
Associated entities: metasmarttrade.live; bitfidel.com

How To Protect Yourself From Scams 

Brokerswatch recommends investing only with brokers that are regulated by reputable authority.

Reputable regulatory authority provides additional protection to investors by ensuring that financial firms apply proper standards and rules. Additionally, if the broker tries to cheat you out of your money, it is the regulator’s job to force the financial firm to compensate you for any wrongdoing.