Discuss Prime4x.com

[Administrator]

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otherwise use this thread ("Post Reply" button below) to start a LIVE discussion and get responses from our FPA members.

 

[Pranali]

Dear Traders,

Please be aware of prime4x, cyprus. This broker scammed me by liquidating my positions for no reasons on 2nd june 2009, and when asked for an explanation they gave a stupid reason along with a statement of trade history for the day which shows a difference of 100 pips from the market price at that time.

I had taken positions in usd/jpy currency pair. And to my surprise I found that all my trades are getting liquidated at time 9:22 ( As per their terminal,market watch, chart and as shown in the history statement). Initially, they showed a difference of 300 pips from market, and when I immediately wrote them back seeking explanation, they rectified the statement which showed different time and price.

When I wrote them again asking about the sudden change in the statement, they didn't bother ti reply and kept on changing from time to time.

Finally, they sent one statement which shows a difference of 100 pips from the market price.

When I challenged their statement, they rectified again terminal and over live chat they said, that's the final statement for the day. I asked them to send the final statement by email, but they didn't.

I have saved more than five different history statements on 2nd june 2009, all showing different rates and time. I have taken screen shots and will be publishing here at appropriate time.

This broker doesn't even receive phone calls and when asked over live chat, its representative says that there is no phone service available at accounts department. They don't even provide any information.

On last friday, finally the accountant sent me an e-mail stating that he will investigate and reply soon. Don't know, when they will reply or can't say if they will reply.

I therefore request traders to stay away from this broker and save your money.

Also, I request FPA investigators to look into the matter and help me.

 

[netmec]

Be aware

Prime4x are SCAMERS, be aware people, i opened a new account with them and deposit a small amout to test them, i started to have good gain more than 50 % of the original amount, they cancelled my account and took the money claiming that is fraudulent, their phone not respond , dont work with them, they take your money

 

[chengsmine]

Difference between demo and live

Would anyone share his/her experience in terms of comparing the demo and live trading? Is the difference small?

 

[Undercover]

Yes. It is a confirmed SCAM.

My story:
I opened a live account with them and deposited €120 on 2009-12-11. Today is 2009-12-31 and still cannot see the money on my Prime4x account.
Naturally I contacted them many times. They replied only to my first email, ignoring further ones. Then I was using their chatting system. Four days - three different operators (Hana, Sara, Emma), do not know how many chat operators they hire. The chatting scheme is always the same, no matter if you chat with the same person again. You write you do not see your money, she pretends she talks with someone from accountant department putting you on hold for a few minutes, then she informs you to send a T/T copy to accountant@prime4x.com, you say you have done that 2 weeks ago, then she says they are "checking with our bank". This is always the last stage: "checking with our bank". You ask why they did not check it yesterday, before yesterday, before before yesterday, last week, last last week as promised. The answer: "we are checking with our bank".
Next week I am going to the police station and will inform you about the progress. Poland and Cyprus are members of European Union, in fact being one state from 1st of December 2009. I hope it will help to investigate my case quickly.
I must admit I had a bad luck, because the negative reviews on FPA about problems with deposits appeared just after I had made my own transfer. If I read them before I would not do it.
These are samples from the chat session. They all look the same in fact.

2009-12-28
Hana: Welcome to our live chat service.
Hana: How may I help you today?
Customer: Hi, I made a wire transfer of €120 on 2009/12/11 (17 days ago) and still cannot see it on my account 00000. I sent a few emails to real@prime4x.com, received one response with a promise to check it and then stop responding. Could you help me with it?
Hana: Sure
Hana: Have you send T/T copy to accountant@prime4x.com ?
Customer: What is T/T?
Hana: The transaction telegraph
Customer: I made the wire trasfer by my bank's website. May I take a screenshot of the transaction and send it to accountant@prime4x.com?
Hana: Yes,if you please.
Hana: would you provide me with bank details you send to your money ?
Customer: Ok. I did it and send it to real@prime4x.com with a request to forward appropriate documents to other departments if needed.
Customer: Sure. I can give the details. One moment, please.
Hana: No,your bank details
Hana: I mean the bank you transfer the money to
Customer: I made the transfer from my bank located in Poland (ABank) to your bank (HBank) located in Cyprus.
Customer: I can give the account numbers if you wish
Hana: Yes,please.
Customer: My account number: PL00 0000 0000 0000 0000 0000 0000
Customer: Your bank account: CY00 0000 0000 0000 0000 0000 0000
Hana: I wanted to check that you transferred to the correct bank account number .
Hana: Okay
Hana: I checked we received a screen shot from your deposit details
Hana: I passed it to the accountant department and they informed me that they will check with our bank
Hana: If they received your money or not yet.
Hana: And we will inform you with the updates.
Customer: Ok. Thank you very much for your help.
Hana: You are welcome at anytime
Hana: It's our pleasure to help you.
Customer: I will be awaiting the updates. Thank you once more and good-bye.

2009-12-30
Sara : Welcome to our live chat service.
Sara : Hello. How may I assist you?
Customer: Hi again, I still cannot see the money on my account 71136 and did not received any updates about my case. May I have a question?
Sara : Sure, also I need to know what is your case please?
Customer: I will try to explain.
Sara : Okay take your time
Customer: I made a wire transfer of €120 on 2009/12/11 (19 days ago) and still cannot see it on my account 00000. I sent a few emails, was chatting twice with someone named Hana with no positive results. I am sure the money is on your HB account for at least 10 days.
Sara : So, as I understood you made a deposit since 11-12
Customer: Yes, I made the deposit on 11th of December.
Sara : Would you provide me with the customer name with the bank?
Customer: I made the transfer from my bank located in Poland (ABank) to your bank (HBank) located in Cyprus.
Customer: My account number: PL00 0000 0000 0000 0000 0000 0000
Customer: Your bank account: CY00 0000 0000 0000 0000 0000 0000
Sara : No, your name with the bank please?
Customer: My name: Customer
Sara : Would you send the TT copy to accountant@prime4x.com
Customer: It was done two days ago on Monday by Ms. Hana. Should I do it again? They got it.
Sara : No hold on please
Sara : Thank you for holding
Customer: Yes. I am still here.
Sara : Okay We will check with the bank
Sara : And once we get it
Sara : It will be added immediately to your account
Customer: May I have a quesion?
Sara : sure
Customer: How do you check with the bank?
Sara : The accountant department will check with the details that we have in your TT copy
Sara : With the bank
Sara : And see if you missed a step or something
Customer: I understand, but how? E.g. through a website, you arrange a meeting with a bank officer, etc.
Sara : I can't provide you with this information as I am not allowed to
Customer: Why is that a secret?
Sara : This is from the company private information
Customer: Couldn't you log in to your bank's website and see the history of payments?
Customer: Or if you make a personal meetings with bank officers - did you ask them for such history of payments?
Sara : The accountant department will check with the bank
Customer: May I know when the accountant department will check? Is it possible to do it today?
Sara : I will pass your request for making it within today
Sara : Would you like me to help you with anything else ?
Customer: Yes, please pass my request to the accountant department to check it today. I will try to contact you tommorrow to find out the results.
Sara : Hello
Sara : Okay
Sara : Please contact us at anytime.
Sara : Thank you for chatting. Good-bye.
Customer: I appreciate your time. Good-bye.

2009-12-31
Emma: Welcome to our live chat service.
Emma: Hello. How may I assist you?
Customer: Hi again, I still cannot see the money on my account 71136 and did not receive any updates about my case. May I know why you didn't check with your bank as promised yesterday, on Tuesday, on Monday and last week?
Emma: When did you transfer the money ?
Customer: On 11th of December (20 days ago).
Emma: Please tell me the amount of money
Customer: €120
Emma: Please hold on I will check it for you now
Emma: Thank you for holding
Emma: Please send your TT copy to accountant@prime4x.com
Customer: T/T was sent two times. They got it.
Emma: Okay
Emma: We will check with our bank and reply you via mail
Customer: You promised that yesterday, on Tuesday, on Monday and last week. Checking the history of payments takes seconds. Why does it take for you more than 2 weeks without results?
Emma: Please Let me explain some thing to you
Emma: The delay is not from our company
Emma: We did not receive your money yet
Emma: So The accountant department will check with the details that we have in your TT copy with our bank
Emma: And we will reply you via mail
Emma: And once we receive your money we will add it to your account immediately
Customer: How can that be? They money is on your bank account (HBank) for more than 2 weeks or not?
Emma: Okay
Emma: Our accountant department will check with the bank
Customer: May I know why your accountant department did not check it yet?
Customer: Are you still there?
Emma: Yes , i am with you
Customer: May I know why your accountant department did not check it yet? Or you cannot answer this question?
Customer: If not I got a few more questions if you are able to help me.
Emma: They will check with the bank
Customer: May I know in which country Prime4x is incorporated?
Emma: And if there is any problem they will contact you as soon as possible
Customer: May I know in which country Prime4x is incorporated?
Customer: You are not going to answer for any of my questions?
Emma: Our company is located in Cyprus
Emma: Please calm down
Emma: I understand your point
Emma: But I assure to you that the delay is not from our side
Emma: We did not receive your money
Emma: And I will pass your request to the accountant department
Emma: And they will contact you shortly
Customer: I am calmed down. Believe me. I really am. I just got some more questions. They are not hard to answer, I think. May I ask?
Emma: Sure
Customer: Could you tell me the address of your office?
Emma: Sure
Emma: Suite 401,Fourth Floor,MEGARO Stavrakis Building,Griva Digeni 13,6010 Larnaca,Cyprus.
Customer: Ok. Thank you very much.
Emma: You are welcome
Customer: As I wrote the deposited money is on your bank account for more than 2 weeks. I do not believe you make any "checking" so I decided to let make the further investigation to the Polish police. €120 is not much, but going to the police cost nothing so it is worth to try. You may be surprised but the Polish police works pretty well. Lately they needed only a few days to arrest the thieves and get back Auschwitz "Arbeit macht frei" sign found hundreds kilometers from the theft place. What is more they found more trails in Sweden continuing the investigation there. That lets me
to believe they will get my money back equally fast and find out who is behind the Prime4x company.
I hope you do not mind if I print and present them all my email and chat history with you? I am going to visit the police station on Monday. Is it ok for you? I just want to be fair.
Emma: Please do not worry
Emma: We will check and if there is any problem we will contact immediately
Customer: Ok. Thank you very much. One more thing.
Emma: Sure
Customer: I am going to publish the progress of my case with Forex Peace Army community to let other people being warned about the difficulties. Is it ok for you? May I publish this and the previous chat sessions on Forex Peace Army forum and/or other forex community websites to let other people know how your company operates?
Emma: I assure to you that this delay is not from our company
Emma: We are caring for our clients
Emma: But we did not get the money
Emma: It is banking procedures
Emma: It is not from our company
Emma: We have thousands of clients
Emma: And no one said that before
Customer: No one?
Customer: Took a week to post my first wire deposit they said they needed additional ID verification even though I had already submitted it during the application process. The second wire deposit was made 2 weeks ago. Sent the TT copy to the accountant and no reply sent it to the bank and they didn't even read it. I got a deleted unread reply from them. And considering the number of others that have had the same problem I'd say this is a confirmed SCAM!
Customer: Look here: Prime 4X | Prime4X.com | Prime4X reviews and ratings by Forex Peace Army
Customer: I opened a new account@ Prime4x, a Cyprus based forex broker, 8 weeks ago.The account opening and 1st funding of the acct. via wire ran without any problem. But the 2nd wire of 500 euros is not credited to my acct. since more than 3 weeks. I let my bank do some investigation
and after one week, I got the message that my wire was defenitely received by prime4x bank. The wire information I used the 2nd time was exactly the same like the first one. I send at least 5 emails to Prime4x and did serveral complaints via live chats all without any positive result. Seems that Prime4x
either has a bad working backoffice or problems with their bank. I can only say that the efforts Prime4x is showing to resolve the issues are at the lowest level and have nothing to do with good customer support and professional behavior. I will investigate legal steps as well to get my money
back if the issue is not resolved in the next 10 days.
Customer: Another one
Customer: Ok. I appreciate your time and wish you more honest chatting with your customers in the coming new year. Good-bye.

More information here: https://www.forexpeacearmy.com/forex-forum/scam-alerts-folder/8148-prime4x-scam.html

 

[Gert Pierneef]

In september 2009 I send money via bank wire to the Prime4X company to fund my account. They never arrived. I have emailwed several times. I have chatted live with their support three times. During the chatting I was told to mail to the accountant of accountant of prrime4X which I did several times Until today there is no respons whatsoever. I do not know what is happening with this company but I am afraid my 600 dollars are gone in space.

 

[Sibali]

You should contact your bank and ask them to send swift message to the bank funds were wired. It is much better then asking prime 4x.

 

[Prime4x User]

I had the same problem with Prime4x. Send them email, that they should better post your funds to your account immediately, otherwise you will issue the case to the local police declaring that this is as FRAUD ACT. I'm sure, you'll have your funds booked the same day.
Good luck !!

P.S.: Make sure you have a TT copy of your wire and I also recommend that you let your bank investigate and confirm that Prime4x bank received the wire. Also do not worry to publish your case to the FPA Prime4x broker review with the appropriate rating and send Prime4x the link to your review.

 

[RockSolidFX]

Prime4X is GREAT!!

Well... I surely wouldnt wanna start a fight here... but I feel that the sentiments shared is not shared by all.
I have been with Prime4x for the last year or so... We have +-350 clients who all trade manually and many use our EA's there with great success. When any of our new guys sign up we the entire procedure takes about 5 working days (using the Moneybookers service). From when the account is funded from MB that actually funding takes on average 10 minutes these days.
I would suggest that you guys join via an IB... there definitely is strength in numbers. We dont have hassles with spread widening, withdrawals etc... hell, we even had a situation where Prime4x had returned 100+ pips of EACH of our traders that lost while running our ea on their servers!!! I am confident that Prime4x is NOT a scam.
Criticism and negativity unfortunately go hand in hand... in this instance it is very important to understand that all companies and people alike have run-ins or flaws along the way... yes, some are big and most are really insignificant, but the natural order is for the negatives to step forward and be well and truly exaggerated.
I would like to invite ALL others to share their positive experiences with all... there are many, any people that ARE getting fantastic service all day, everyday from Prime... it would be a crime to not share those experiences with all.

 

[mehdi sobhani]

does'nt do any withdrawal + requote

Hi
I'm from IRAN and have worked about 1 year with this company ,
there are many many problems right now in IRAN with this broker .
the main problem is that in fact this broker does'nt do any withdrawals and just sometimes do it for some special clients and IB s ,

recently it has put very bad reqoutes on some IB's clients and specially these reqoutes happen on positions with volume larger than 1 lots and specially when we want to close the position .

the next problem is that it does not send any daily confirmation email about trades !!!

when chatting with them they just say it will be deposited shortly and . . . but nothing happens .